Cedar Rapids Gazette, April 3, 1974, Page 8

Publication: Cedar Rapids Gazette April 3, 1974

Cedar Rapids Gazette (Newspaper) - April 3, 1974, Cedar Rapids, Iowa 8A The Cedar Rapids Gazette: Wed.. April 1974 Student House-Building Project May Be Expanded South Africans Get British Snub are ruled by fascist The Cedar Rapids student ing to LONDON (AP) — Britain’s!consider j new Labor government has can-1 regimes, jceled a visit by the royal yacht1 The 5,769-ton a   v ______„,....... Britannia    had .    i    prepare    plans    which    I    Britannia    to    a    South African been scheduled to fuel at the house-building project, wh.ch might be used on construction of nava| base> ,he forcjgn „mce South African nava| b.1se at may be expanded to include pa- a house during the next schooljannounced Tuesday.    c Town on its way home foetal students next year, is at- year."    u    waJ    Labor.s    ,hjrd suc|) snub from ferryjng Que£n E|jzabctb trading attention from other Dave Rosenberg is the project t0 a right-wing government i n ar0und the South Pacific. The since it came to power last schoolmen around the state. leader, meeting with the stu-Donald Menning, coordinator dents for actual construction Gazette Photo by John Mclvor CHATTING before the 100th anniversary Tuesday luncheon for Lamson Brothers at the Roosevelt hotel are, from left: Russell Wiley, manager of the Lamson office in Cedar Rapids; George Chadima, president of Norand Corp. in Cedar Rapids; William Diener, general partner for Lamson, and Richard Withrow, managing partner. Both Diener and Withrow are from the Chicago office. Broker Sees Business Boom By Phyllis Fleming “We’re on the edge of a very substantial economic expansion with a lot of problems. but basically up.” That was the way William Diener, general partner of Lamson Brothers, ended his speech at a luncheon here Tuesday which noted the 100th anniversary of the brokerage firm. Lamson has had a Cedar Rapids office for 71 years. On his way to making that optimistic prediction. Diener discussed and discounted many current economic worries. Regarding oil and the balance of payments. Diener made it clear he thinks price should be and “is the key item that regulates everything.’’ “Not Permanent” He doesn't think the price of oil will ever drop back to earlier lows but neither does he think today's high prices are permanent. He thinks the higher prices have done two things that may eventually bring prices down:    Increased production and curtailed consumption. The increased production will come from areas not currently big in the oil production picture: the North Sea. Nigeria, Venezuela and recoverable oil in the U.S. This increased production should cause the Arabs to take a new look at their pricing policies, he said. New Power Bloc He thinks the Arabs are a new power bloc that must be reckoned with but he isn t worried about them taking over. He also noted that other underprivileged countries now producing raw materials for wealthier countries have seen what the Arabs have done and “they like it.” . “Topped Out” Moving to inflation, Diener said he thinks the surprises which have been the major impact of inflation have “just about peaked.” Among the surprises he included the an-chovie shortage in Peru which affected the demand for soy beans, the oil embargo, bad weather in various parts of the globe which affected crops, etc. looking to the future and predictions for good crops in the U.S., he said he thinks food prices have topped out and are heading lower. He terms energy demands as the other big “item we’ve had to come to grips with.” He sees higher prices for gasoline. His remarks clearly pointed out the interconnection between economic problems. The fact that the Arabs can no longer be dictated to on oil prices affects inflation; so does a demand by people of various countries for higher standards of living; so does the fact that the changing population picture in the U.S. has created a group of 15 million men and women in their early 20s who probably won’t be willing to get by on less and who will therefore put a high degree of pressure en limited supplies of materials. Sees Boom As to predictions of a recession or depression, Diener completely disagrees. Instead. he secs the makings of an cx-traordinarv business boom Hikers Escape Snowstorm on N.M. Mountain ALBUQUERQUE. N. M. (UPI) stranded in freezing tempera-! Miss Scott said the four never — A young Texas girl stranded tures and snow whipped by were lost in the mountains but in knee-deep snow in New Mex-; winds gusting to 60 miles nf“'- uere hampered ico’s rugged Sandia mountains!hour. gusting to 60 miles per! "v,*t    bv    too    much snow. “The snow was up to our said she and her three com- Miss Wessel and Fort were knees. The wind was blowing so panions never had doubts abouts hospitalized for frostbite. The hard.” she said. “I don’t think being rescued.    Scott children apparently es- i ve ever seen it that cold be- “We tried not to think about caped the ordeal unharmed. fore.” not getting down and we really; Miss Wessel said the other-- didn t doubt that we would.” I three hikers had boots but she said Linda Wessel, 20. “All we wore only tennis shoes when thought about was getting off j they began the hike Sunday, a the mountain.”    I    warm sunny day at the base of Miss Wessel and Richard the mountains east of Albuquer-Fort, 22, both of the Dallas que suburb of Garland, and Diane; Scott, 15, and her brother. Phil- knees down,” she said. “I lost nationwide lip, 14, of Albuquerque, were‘my tennis shoes when it got for May rescued Monday.    I    dark and we decided to cornel cost of Independent Truckers’ Strike Set for May 13 LOS ANGELES (AP) - More than 90,000 independent truckers “My legs are frostbit from the arc expected to take part in a shutdown planned 13 to protest the high1 fuel, Mike Palmhurst, They had planned to climb the. down the way we went up. I d publisher of Overdrive maga-Scenic La Luz trail up the never been in any mountains zine, says. mountain's east side and return before and if I’d known what it--- by a tram from the Sandia peak was going to be like I’d have Looking for a specific item? they became been more prepared.”    quick.    Dial    398-8234. ski area. But f> ■>. '< <    '. '■, A-J ''• '»• Bx $•    ''4,    ■'    *    -■ ■ ■ it&ti    '*■    X .    .X    V*    \ I a tmii#. ■ ; H I' J *. -f    •    •    r'    •. a MW*. • K' Ancient Age Bourbon. The one drink so smooth it perfects the perfect sour Ancient £ge Bourbon STRIGHT KENTUCKY BOURBON WHISKEY • 86 PROOF • ©1974 ANCIENT AGF OISTHUNG CO . FRANKFORT. KY “Most industry is operating at capacity. My image of a recession isn't when you can’t get stuff, it’s when you’ve got stuff you can’t sell.” He sees higher prices when the controls come off, but he thinks those prices will trigger a boom in capital spending. As might be expected from a broker, he thinks now is a good time to buy securities. He predicts a very substantial rise in security prices over the next three or five years. “Uninflated Asset” Diener calls securities today’s only uninflated asset and added “stock prices are depressed and cheap.” They are depressed because the “market is assuming an earnings recession or depression.” He    believes the    fact    that prices will rise should prevent corporation earnings from being off. He called for more realistic pricing of stocks. Also speaking Tuesday was Richard M. Withrow, managing partner, who gave some historical background on Lamson Brothers. * * * Some 4ft persons attended the luncheon, “ one of a series being given in various cities where Lamson branches are located. The firm is headquartered    in Chicago    and    both Diener and Withrow are    in the Chicago office. The Cedar Rapids branch is located in the IE Tower. Russell Wiley is manager. of vocational and practical arts! for the Cedar Rapids public schools, said Wednesday the most recent visitors have been educators from Des Moines, Davenport and Iowa City. The project, which is a joint undertaking of the Cedar Rapids Board of Realtors and the board of education, involves the complete construction of a house by students. The Realtors underwrite the land and construction costs so that no tax funds are used. Sixteen students from Jefferson, Kennedy and Washington are working on the house, located at 3938 Red Bud road NE. “The project is unusual in the state and has attracted considerable attention in the vocational education field,” Menning said. “We understand that other cities, notably Iowa City, are planning to organize a program along the same guidelines developed here.” Robert Eaton, chairman of the Board of Realtors committee for the project, said the house will be placed on the market sometime next month. Any proceeds from the sale will go toward scholarships for young people interested in pursuing a career in vocational education. The Realtors, who sell the house without compensation, awarded eight scholarships last year, which was the first year for the project. The Board of Realtors already has purchased a lot for next year and Menning said it is planned to open the project to applications from LaSalle and Regis high schools. “The project’s educational value extends beyond the students who are actually building the house,” Menning pointed out. For example, the home economics department at Kennedy is planning the interior decorating. including light fixtures and, carpeting. The plans for the house are used in mathematics classes in applying the metric system. “Many classes, ranging from industrial arts to social studies.' have visited the house,” Men-ning said. “Students in architect tural drafting also are undcrtak- work every weekday morning from 9 to ll a.m. r ,.    ..    uh aft I government ordered it to get its month. Earlier, it called off!6    .    . ,    ,    . Royal navy visits to Chile and fuel    ^ie Atlantic island o S Greece, which the Laborites Helena instead. 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  • Dave Rosenberg
  • George Chadima
  • John Mclvor
  • Linda Wessel
  • Mike Palmhurst
  • Phyllis Fleming
  • Richard M. Withrow
  • Richard Withrow
  • Robert Eaton
  • Russell Wiley
  • William Diener

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Publication: Cedar Rapids Gazette

Location: Cedar Rapids, Iowa

Issue Date: April 3, 1974

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