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Cedar Rapids Gazette Newspaper Archive: September 11, 1974 - Page 9

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Publication: Cedar Rapids Gazette

Location: Cedar Rapids, Iowa

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   Cedar Rapids Gazette (Newspaper) - September 11, 1974, Cedar Rapids, Iowa                                10A {-'filar Kapids Gazette: Wed., Sept. II, 1971 By John Cunniff NKW YOKK (AP) Americans aren't saving enough finance the nation's future and the consequences eould be absolutely appalling, "literally ac- cording to Hie findings of a study just released. It could lead to further urban congestion and decay, say the researchers who put the study together. II could mean failures of small- and businesses, the encouragement of industrial oligarchy, and more power shortages. The dismal tale gels grimmer. 11 could very well mean that ecological and en- vironmental programs will he aborted for lack of funds. 11 could mea.i high unem- ployment. It might mean chronically depressed stock prices. Pensions Drained Millions of Americans dependent upon private pen- sion plans might find their resources drained away. Health and educational serv- ices might have to be curtailed. Living standards might fall. These, says the New York Slock Exchange, arc some of the implications nf a develop- ing capital shortage, a short- age (hat already is forcing business lo curtail expansion. In fact, all these con- sequences are to some extent already with us. "A capital shortage is no longer merely a threat for the future but a fact of the said .lames Neodham, chairman of the Big Board, where prices of slocks are at their lowest in four years. This is how the situation stacks up between now and 1985. say the economists and researchers at the exchange: -Sources of funds: Business savings, trillion, .per- sonal savings, trillion, for a total capital resource of ROSi trillion. Uses of funds: dross private domestic investment, consist- ing mainly nf spending for in- dustrial plan! and equipment, and residential construction. S4.503 trillion; federal deficit financing, billion; state and local government financing. billion: federal credit agency biirrnwing. billion. A quick calculation shows a need for trillion of capi- tal and a likely availability, under present attitudes and By Oswald James Jaeoby In the first Cnlbertson sys- tems the jump raise In three of partner's suit was nol quite forcing. Oswald Jaeoby was mil1 of a group of young experts who decided lo play il as forc- ing. Culbcrlson followed along and today Hie jump raise is forcing in standard American. The experts have gone back lo using il as almost forcing and Ihe chances are thai within a few years Ihe standard bidders will have changed back also. Today's hand decided an im- portant team match in a mosl unusual way. The bidding in the box is that of the losing team. South The bidding has been: 11 West Xorlh East Smith Pass 24 Pass 2 X.T. Pass Pass Pass You, .South, hold: K II-1 3 2 Q87 Whal do you do mm1? hid three nolrump. Your partner must have a bal- anced inininiuin with three spades lo the jack or less. TODAY'S QUESTION Yum- piiiluci Dominoes lo lour clubs. Whal do you do now? Answer Tomorrow NOUTII I A A 8 li 2 V K J 8 6 5 4-2 WEST EAST 6 Q 10 9 5 i 3 4 K ,1 V 9 V T.t v a V y 1 u 7 4 10 8 75 3 SOUTH (ID A 7 9 A Q 8 6 4 2 A K 2 A 64 Neither vulnerable West North Has! Smith Pass 3V Pass 5t Pass 1'ass Pass Pass Pas.s Opening lead 4 N'T. 3 .NT lit decided lo use Dlackw.....I and settled for six when North showed just one king. Six is Ihe right contract and Smith made il. At the other table. Sonlli went into a scries of complicated bids after the throe-heart response. Kvon- tnally he landed in seven. South won the club load; ruffed a club; led a (rump: ruffed his last club and ran all his Irimips In wind up with one spade and three diamonds while dummy hung on lo the ace of spadi's and three diamonds. West had never i In-own a diamond and Kasl came In Ihe mistaken conclusion lhal Smith had started with Iwo spades and the ace-king of diamonds. He unguarded his of diamonds and lltr grand slam made. Shop Thursday 9 'til 9 Come See all the Window Shade ways to Sleep Better at Smulekoff's come in a variety of colors Sec our entire selection of window shades by I Joanna Western. Starting as low ;is In i our Drapery Dept., now located on our newlv j remodeled 5th floor TERMS TO FIT YOUR BUDGET laws, of only trillion, or a shortage of SMIi billion. And dial's conservative, the exchange mainlains. ICxrhuncr Offensive detailed report, which was the basis of a speech Needham prepared for the F.conomic t'lub of Detroit, is (he in an exchange of- fensive to defeat the capital shortage problem. As Needham said in his prepared remarks, have become literally obsessed by the need for identifying the scope and implications of this problem before it becomes too late to do anything about it." Two options are available to the nation, ,the exchange researchers stale. One, a policy of benign neglect could be followed, but that would mean a downward adjustment of the economy, with all the negative results mentioned. Two, savings and productive investments, including those from abroad, could be en- couraged while simultaneously discouraging excessive current consumption. The first step in any active program to accomplish this, the report stales, is fur government to bring inflation under control through federal spending cutbacks. To encourage savings, a "sweeping reform of U. S. tax law is essential." Corporate lax rales, il states, should be adjusted to permit greater ac- cumulation ofjunds for further investing. Capital gains taxes should be lowered. In regard lo the latter, Ihe exchange recommends among other things "allowing for complete tax exemption for reasonable amounts of capital gains." It also advocates a bigger dividend exclusion from federal income (axes. "It is fully recognized that these tax changes may reduce the revenues available lo the .ederal government in the short the report concludes, but il claims Hie al- ternatives are far worse. And if Ihcse. and other tech- niques for raising capital work as projected, then Ihe economy will be bigger and tax revenues greater, the exchange con- cludes. John Cunniff Genealogical Group Sponsors Workshop IOWA CITY-The Iowa Cily Genealogical society will sponsor an all day workshop in genealogy Saturday in the Illinois room of Ihe Iowa Memorial Union from 9 a.m. lo p.m. A registration fee will he charged. Reservations may he made lo Ihe Iowa City Ge- nealogical society, P.O. i'oralville. Collector Takes License With Antique Car Plates KKKKPOUT, III. (Al'> Itobert could see a glis- tening Rolls Koyco and not even notice it. He's more interested in its license plates. A retired farmer, Lamm, has collected more than plates in eight years. He buys them, trades them, looks for them in out-of-the-way places and receives I hem from friends. He has plates from every slate, all Canadian provinces and many foreign countries. Some arc as old as 1907, a time in Illinois when drivers were issued identification tags for the dashboard and had tn make their own plates. Lamm keeps abreast of the market and arranges trades or sales through a worldwide newsletter sent every Iwo months to members of Ihe Automobile License Plate Collectors Assn. Lamm said antique shop owners are prone lo overcharge for old plates, asking as much as A more reasonable price is 10 cents per year, he said. "The mosl I ever paid was fora Illinois he said. Lamm has plates from the metal-shortage years of World war II made from a soybean base fiberboard material. "There were a lot of complaints that goats ate them off the Lamm said with a chuckle. 2'A acroi of uverything for ths home Third Avenue at First Street SE In Downtown Cedar Rapids We're proud of our new, beautiful carpet showroom First floor, south. Have you seen it? If not, come now, see and browse. You'll find the newest fall carpets in captivating colors that will spread a magic change throughout your home. We have all top quality carpeting, well-known brands, at reasonable prices. For WaSi-to-Wal! Luxury Choose Your Price Budget Saving Values Now Here's three great Wunda Weve carpets. Give your home new many years of wear from Wunda Weve's top quality rfylon carpet, luxury, comfort and beauty at a budget savings price. If you are Come to Smulekoff's now, and see and feel the difference. All interested in fine quality carpeting, then you'll like one of Wunda three of these wonderful Wunda Weve carpets ore on display for Weve's beautiful carpets. You will not be choosing only design, your test. Shop Smulekoff's Monday and Thursday 9 a.m. until color and texture in mind, but durability also you will get 9 p.m., other weekdays 9 a.m. to 5 p.m. Wunda Weve's Cotillion is a subtly carved pattern, 100% Cadon nylon pile. Its beautiful tip sheared texture is styled for long wear and easy maintenance. Select from four new exciting colors gold, lime mint, avocado and blue. Now is your chance to buy a quality carpet at a savings price. Specially Priced at Smulekoff's Square Yard Wunda Weve's luxurious plush shag carpet is 100% heat-set lylon pile. Spots and spills clean up easily because the moisture absorbency is low. The stunning moresque colors hide the soil. Choose from gold, fire red, sand, sapphire, lime, burnt orange colo-s. It's a top quality carpet at a budget price. Specially Priced at Smulekoff's Square Yard It's Wunda Weve's new high luster nylon pile. Shaggy highs and Priced at Smulekoff's For our customers, plome use our cus- lorriL'f parking lot, south end of store, or pnrk and shop pian. Open A Budget Account Take Months To Pay Square Yard Open Thursday 9 a.m. 'til 9 a.m. Carpet Showroom First Floor, South   

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