Northwest Arkansas Times from Fayetteville, Arkansas on October 10, 1974 · Page 12
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Northwest Arkansas Times from Fayetteville, Arkansas · Page 12

Fayetteville, Arkansas
Issue Date:
Thursday, October 10, 1974
Page 12
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Page 12 article text (OCR)

12 · Nerthwett Arkansas W,K, Thun., Oct. 10, 1974 PAYITTIVILLE, ARKANSAS lynch-Hardin Study Shows Cash Outflow .'LITTLE ROCK (AP) - A study says Arkansas banks ex ported an estimated $282,8 million between June 1 1 and micl- Angust because a! the stale's 10 per cent constitutional limit on interest rates. e ,.The study says the constitutional limit dictated thai the money could be employed more profitably in other states. The study \vns conducted by Dr. Gene C. Lynch and Dr. William F. Haidin Jr., faculty members at the University of Arkansas at Fayetleville. The study was prepared foi submission to the Credit Re search Center at Purdue Uni versity. There is a good chance tfiough, that the study may be used as part of the campaigr for proposed constitutiona Amendment 57. which would re move the 10 per cent ceiling on interest rales. ·A spokesman for the Ar kansas Credit Requiremcn Committee, which supports the proposed admendment, said his organization did not commis sion Ihe study but was ncgolial ing for copies for possible in 7 Ihe campaign. The oulflow of $282.8 millioi fro'm Arkansas banks was esli mjaled on the basis of a mai survey sent to 207 banks. Despite the heavy outflow during Ihe period, Ihe two men reported that lolal deposils o banks in Ihe stale grew from $2.02 billion to $2.06 billion for a gain of about $40 million. · The two men cautioned against assuming that tin growth: in total bank deposit: was an indication that mone; Was not ; "leaving the stale. -·"Deposit lolals do not revea where banks actually are cm ploying their funds," they said. Southmen Roll But WFL Rocks BT THE ASSOCIATED PRESS " The Memphis Southmen am ths Birmingham Americans continue to roll while the World football League continues It rock. Memphis and Birmingham tlie:struggling league's two-bes teams, ignored the latest round 6t.' WFL woes and posted vie to'rtes Wednesday night, the Southmen edging the Charlotte Horneis 27-23 and the Ameri cai]'s thumping the Portlant gtprm 30-8. ·The Hawaiians beat the Philadelphia Bell 25-22 and th Florida Blazers downed thi Chicago J'ire 45-17 in othei games. r :Meanwhile. WFL ofticial: continued the struggle to keep tl)e league afloat despite Commissioner Gary Davidson's dec laration that, "I think the fac tor for success today is bette than it was two months ago " .-The Detroit Wheels and trv Jacksonville Sharks both wen under due to financial in adequacies earlier in the weel and WFL vice president Do Andersen said Wednesday nigh thaj. the players will be divide up among the remaining team at a . d r a f t Friday, unless som new owners turn up befor then. Player limits on eac team would be expanded by a least five and perhaps eigh players per team. "; Memphis 27, Charlotte 23 Uanny White threw toucl down passes of 13 and 19 yard to i-d Marshall in the fourt quarter as the Soulhmen, 13-2 posted their loth straight victo ry and spoiled the Hornets Charlotte debut. Willie Spencc and J.J. Jennings ran for 10 yards apiece for Memphis · A sellout crowd of 2513 turned out for the game Birmingham 30, Portland George JVIira tossed a pair o scoring passes for the Amer cans, a seven-yarder to Denm Homan and a I3-yarder to Ji Bishop, and Charley Harrawa and Joe Profit scored on shor runs. Birmingham is 12-3 on [h was 25,621 -- the lowest in ciaf hoje games for the Amer . Hawaiians 25, Bell 22 AI Davis scored three touch down,, fo , he Hawiians, th third coming on an pass f ronl Norrj , The game was played befor ?nn ? st '" 1uate( ' crowd of only I 500 in Philadelphia ' -· Florida 45, Chicago 17 s e u p his running tw Walter Perrin Hired EVANSTON, III. (AP) . Wafler Perrin, a former North ern-Illinois basketball star, wa named as assistant coach a N o r t h w e s t e r n Universit Wednesday. "Pprrin, 24, Eyanston, will re place Dai Davis, who accepte coaching duties last month a Chicago's Kennedy-King Junio College. 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