Cedar Rapids Gazette, July 15, 1974, Page 22

Publication: Cedar Rapids Gazette July 15, 1974

Cedar Rapids Gazette (Newspaper) - July 15, 1974, Cedar Rapids, Iowa (the Ct eelier l\n pieta ©ii)C++c Derby Day Gazette photos bv Duane Crock I he Fifteenth street hill near Kingston stadium was the scene of the 1974 Jaycee-sponsored Soap Box Derby Sunday afternoon. Ross Thompson, 14, son of Mr. and Mrs. Harold VV. Thompson, 1624 Twenty-third street NVY, pictured polishing his ear prior to one of the races, didn't win the championship but finished third in the finals. Not in Race Americans like cars, and Karen Jean Morrison, the I' S. candidate in the forthcoming Miss Universe pageant, is no exception Pictured Sunday at the wheel of a grand prix racing car near Manila, the St. Charles, III., beauty will compete in the July 21 contest in the Philippine capital. She did not, however, compete in the road race. The Winner Winner of this year's derby was Mark Brown. 13. son of Mr. and Mrs. Willard Brown, 17IMI Sierra drive NE, pictured with Lowell Phelps, 424 Eighth avenue SW. flagman for the day. There Are Not Enough Arab Shirks Spread The W ealth Around B> Art Buchu ald PARIS — ' There s your problem," said Francois as an Arab sheik walked by the bar at the Hotel George V. We were talking about the economy in Europe, and F'ran-eois was trying to explain it to me. “You mean there are too many Arab sheiks?” I asked him. “No, I mean there are not enough sheiks — oil sheiks to be s|M*cific. This shortage of Arab potentates is killing everyone." "How’s that?” "It’s called recycling. When you Americans once had money, you came by the millions to Europe and spent it here. When you ran out of money and the Japanese had it all, they came here to spend it. We always complained aiwan tourists, but it was one of the best ways tit keep the money in circulation. "Now." said Francois sadly, "the Arabs have all the money and there are not enough of them to spread it around ."    suchwalo "I thought there were a lot of Arabs iii the world,” I said “There are,” replied Francois, "but they are not the right kind. Only a few of them have any of the oil money. The king of Saudi Arabia, for example, who must have made $21 billion on oil this year, has about 132 sons and nephews. That means each son or nephew would have to spend $1H0 million for the ri>st of us to get even " "That would be tough to do." I admitted. M/«c I on mu tapitim Most of the oil sheiks leave their wives at home, so you don t get any business at Dior, Balenciaga or Givenchy. They don’t buy any art, and they’re not known for their wine consumption What can they spend their money on?" “Post cards?’’ Exactly Even if they ate at Maxim s twice a day, they wouldn't be able to use up all the money that’s rolling in The other oil sheikdoms are no better. I would say at the maximum there are about I.IKM) Arab families who are responsible for recycling $40 billion a year There is no way they can do it." AP Wirephoto Hostages Deputy I S. Marshal Calvin Mouton holds up an elevator key that was used to free himself and six other hostages from two armed convicts that had been holding them prisoner inside C S. district court in Washington AH hostages escaped unharmed Finish Mark Brown finishes the final race undefeated in the day s activity. He is now eligible to compete in the national derby at Akron. Ohio. Aug. 17. AP Wirephoto Heads Up Passerby, left, takes note of young man walking on stilts Sunday in New York’s Central park Seasonal hot temperatures and sunny skies drove many New Yorkers to the park for an afternoon's fun Mirth E.in/oN/ori Mill “What s the answer, Francois?" I he oil kingdoms have to produce more Arabs. We have to start a population explosion program iii Saudi Arabia, Abu Dhabi, Bahrain and Kuwait so the royal families will give birth to more princes." Francois whispered to me. "You see what I mean? How can you recycle a $21 billion oil lull when all they buy is I <« ;» I ’olus?" CopvrHlSt IV/4, I os Angeles limes I ;

  • Abu Dhabi
  • Calvin Mouton
  • Harold Vv
  • Karen Jean Morrison
  • Lowell Phelps
  • Mark Brown
  • Ross Thompson
  • Willard Brown

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Publication: Cedar Rapids Gazette

Location: Cedar Rapids, Iowa

Issue Date: July 15, 1974

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