Cedar Rapids Gazette, July 3, 1974, Page 10

Cedar Rapids Gazette

July 03, 1974

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Issue date: Wednesday, July 3, 1974

Pages available: 76

Previous edition: Tuesday, July 2, 1974

Next edition: Thursday, July 4, 1974

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Publication name: Cedar Rapids Gazette

Location: Cedar Rapids, Iowa

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All text in the Cedar Rapids Gazette July 3, 1974, Page 10.

Cedar Rapids Gazette (Newspaper) - July 3, 1974, Cedar Rapids, Iowa \\Recessionary” Economy Possible for Iowa Bv Randy Mlnkoff DES MOINES (I PI) With lower farm prices predicted in upcoming months, state of ficials fear the1 state’s total economic picture will continue downward compared with the rate set a year ago. Iowa Development Commis sion Director Del Van Horn, whose agency makes a monthly study of all facets of the state's economy, said the trend in the state’s key sector •— agriculture —* could force the economy to slip even further the rest of the year. The state’s economy jumped ll percent in January over 1973 and was still about 8 percent over a year ago in March when the effects of lower farm prices began to be felt. May, 1973 Latest estimates show the state is slightly behind the economic level set in May, 1973. “And ifs my guess the trend vs ill be downward because of the price situation,” Van Horn said. He also speculated the state could be involved in a “recessionary'’ economy based on the national effect of lower farm prices, but added it is too early to determine if Iowa and the nation can experience a recession this year. Another factor that has hurt the economy, according to Van Horn, is the 45-day con- Hughes To Donate Personal Papers DES MOINES (AP) - Sen. Harold Hughes ID-Iowa) plans to donate to the public his personal papers covering his last 12 years in public office, an aide said. Hughes’ administrative aide. Park Hinard, has been in Iowa looking at three possible facilities tor housing the papers, and said Tuesday he expects Hughes to decide ‘‘fairly soon” where the papers should go. Under consideration are the state historical building in Des Moines and the Centennial building in Iowa City, both South Tama Board Considers Federal Director TAMA — The possible hiring of a director of federal programs for the South Tama school system has been discussed and debated at two recent meetings of the school board and tabled both times. However, the board has authorized Supt. Jerry Nichols to obtain information and financial data concerning employment of a director who would take the responsibility of applying for government funds, accounting, evaluation of programs and making reports. According to Nichols, the South Tama district is receiving approximately $400,000 per year in federal funds for programs to provide for special needs in education of the district’s children. Rex Cobet, board chairman. part of the slate historical department, and the University of Iowa library, also in Iowa City. Hinard said the papers include Hughes’ correspondence w i t h Presidents, including those expressing opposition to President Lyndon Johnson’s Vietnam war policy when Hughes was governor. Also included would be speeches and investigations made by Hughes as a senator, such as his probes into unauthorized defense department bomhmg and falsifying of records in Vietnam. Hughes served three terms as governor of Iowa prior to being elected to the U. S. senate ir. 1968. Rinard said he will make a recommendation to Hughes on which facility can best process the papers and make them accessible to the public, but declined to say what that recommendation would be. Donation of the papers is no longer tax deductible and Hughes would not take such a deduction if it were still legal. Rinard said. Bills, Money Post Problem For Tipton TIPTON — The city council here shared the wage-earners'; pangs of too many bills and too little money Monday night. Council members attempted to iron out a solution to a tempo r a r y financial problem been appropriated and it won t be turned back. If we don’t use it, someone else will. The work load here is heavy and if we a budget them. Nichols explained a certain percentage of each federal fund is allowed for administrative expense. This would be used for the salary of a federal projects director. The director’s salary would not be paid by the South Tama district, hut rather from federal funds. Duties of administration and details of the programs up to now have been divided among several members of the administrative staff with some lack of coordination. Nichols James feels that with so many projects Bluffs. Mulqueen Elected by Beer, Liquor Council DES MOINES (IDPA) Mulqueen, Council! has been elected chair-and funds, one person should be man of the state beer and liquor responsible. “The system becomes more complex each year and expertise is needed to run it efficiently and keep everything in order. Someone with a Master's degree in curriculum rather than administration is preferable, with possibly a salary of between $12,000 and $15.IMH) per year.’’ Nichols said. On Dean's List DAVENPORT — James Erick, Williamsburg, has Ix'cn named to the dean’s list at St. Ambrose college her*1 tor maintaining at least a 3.2 gradepoin average. control council, effective July I. Ile succeeds Harlan Lowe, Tole-) do, The council has also elected Joan Ballantvne. Cherokee, as vicechairman, and Don Bell. New London, as secretary. oltr lfednr i'npuU COujfflf r stanltshed In URI bv T hf OaitOr Co on,, published doily find Sunday ut SOO Third ave SI . Cedar Rapids, lawn S?406 Second (lost postage paid at Coder Rapids Iowa. Swbff rlption i nt-% by car riff OS < ents a werk By moil: Night Edition and Sunday ti f.sues SI /S a month VIV OO a year AC ♦ernoon fcditions and Sunday 7 issues S I RS a month S40 OO a year Othei states and ll s lr r t dories SAO OO a vent No Mail Subscriptions accepted In areas having tiPieHe tarrier service. The Associated Pies* Is entitled exclusively to the use tor republication gt all the local news printed In this newspaper as well as all AP news dispatches struct ion strike which crippled development in Des Moines and Sioux City. Through Summer The construction indicators were well below that of a year ago and the effects of the strike were likely to keep the rate behind 1973 through the summer. In addition, the manufacturing, transportation, services and government indicators all were experiencing «i<* clines from a year ago in the latest report by the HK’. Finance and insurance, retail trade and agriculture were up from May of 1973. Van Horn said that despite the lower farm prices experi enced recently, the agrieul ture seer tor is still ahead of one year ago. However, he noted, it was not until the last quarter of 1973 that the agriculture economy shot upward so quickly. Large Effect “You can tell in the lab! few months of last year that the agriculture boom had a large effect on spurring the state’s economy ’ Van Horn said “But. agriculture has such a strong effect on the Iowa economy that it can compensate for the declines in other sectors. It s still up, but the boom has ended because of the lower farm prices.” Van Horn said it is “unu sual” for the state to rxpcri once such large “peaks and valleys” in the economic picture, but attributed part of the cause to the prices on the cat tie and hog markets. A Difference “I/wk at the prices we arc having for hogs and cattle and you’ll see a difference,” he said. After dipping to nearly $25 per hundredweight, hog prices jumped as high as $40 in the middle of last week only to drop off several dollars at the end of the week. Further complicating the ability to predict a trend in economy nationwide and in Iowa is the unemployment picture, which in the state has been optimistic in recent months. Latest figures from the Iowa employment security commission showed unemployment in Iowa declined for the fourth straight month in May. “That pretty well shows we have a strong industrial hast1, hut that’s about it ” Van Horn said. Economic Sectors Van Horn said represent alives ol all eight economic sectors make their projections regarding Iowa economy on a monthly basis, taking into consideration income mfla lion. cash receipts and other factors. “We talk with persons in the retail trade and find out what kind of sales are going on in department stores and grocery stores,” he explained “In finance and insurance. we cheek bank deposes and life insurance sales, and discuses tourism factors arid inventories as well.'' The economic rates are figured on a base year of 1967, as tho means for comparison with all sectors considered before figuring out the composite evaluation of the total economy. Latest Rate The latest rate for the Iowa composite of total economy is 132 5, or as Van Horn said, 32.5 percent over the base year of 1967. In May of 1973, the rate was 32.7, or 32.7 percent over the base year of 1967. • The May fgiures, as well as those in April and March, are estimates, hut they should hold up,” he said. Other May figures with their 1973 figures in parenthe-s e s ; Manufacturing 139.2 (139 4) Transportation, utili-t i e s. Communication 134.2 ( 13 4.3) Construction 82.4 ( 12 9,7) Agriculture 135.0 (123.0) Services 134.8 (135.0) Finance and Insurance 143.2 (140.1) Retail Trade 122.4 (117.9) Government (147.2). 142 4 •j    „    brought on by inopportune tunsaid, The federa money has .    ”    **.    •    *    ,    * ’    J    rag in the arriva of severa large bills. For one thing, the communis ty’s new    fire    truck arrived    — ,    .    .    ahead of    schedule —    bringing continue the    federal    programs,    wjfh u g    ^    thp council had j we need mole help to run eXpected to pay later out of a reserve fund and Nichols said    that    if    South    transfer. Tama didn’t get federal funds. Payment of $27,987.33 also many programs which benefit was due on a portion of the the children couldn't be offered water main extension project. Also awaiting payment is a bill for sewer cleaning. That. however, will be paid with money the commuity expects to be refunded by the U S. government as its share of the payment for an ambulance. ♦ * * In other action, the couneil approved rezoning from single-: family to multiple-family a lot owned bv Frank Lovell. ■* I - f ! • • ?* •’ ■ V' ; : ' t *, ‘ • . ■ - ■ i • ISI & TRUCKLOAD PAINT SALE-THREE DAYS ONLY-SHOP JULY 4th IO AM TILL 4 PM FRIDAY 9:30 TILL 9 PM GUARANTEED one-coat coverage. RESISTS mildew and blistering. 66 smashing colors. •mn**'** ext* GUARANTEE Thu paint it guaranteed to cover any color painted surface with one coat (except rough wood shingles, shakes and stucco) when applied according to lobel directions at a rate not to exceed 400 sq. ft. per qallon. lf this porn! fails to cover as stated here, bring the label of this point to your nearest Wards branch and we will furnish enough paint to insure coverage or, at your option, will refund the complete purchase price. 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