Altoona Mirror, January 18, 1980

Altoona Mirror

January 18, 1980

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Issue date: Friday, January 18, 1980

Pages available: 64

Previous edition: Thursday, January 17, 1980

Next edition: Saturday, January 19, 1980 - Used by the World's Finest Libraries and Institutions
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Publication name: Altoona Mirror

Location: Altoona, Pennsylvania

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All text in the Altoona Mirror January 18, 1980, Page 1.

Altoona Mirror (Newspaper) - January 18, 1980, Altoona, Pennsylvania Hltoona SKttror VOL. 1M KHONE Altoona, Friday Evening, Jan. 18, 1980 Founded June 13, 1874 2 Or a COPY Economy Shows Strength, Defies Recession Forecasts WASHINGTON (UP1) The nation's economy defied predictions of a recession by expanding at an annual rale of percent during ISfiS's final quarter, Hie' government reported today. For the entire year, economic growth was 2.3 percent ahead of 1978, after adjustment for inflation, the Commerce Department suul. Willingness on the part of consumers to spend money in Ihe face of rapid price increases was the main reason for the unexpected economic strength, govern- ment analyists said. Most economists, however, still be- lieve the economy will fall into a recession during the first half of 1980 and unemploy- ment will surge upward. As many as 1.5 million workers could be laid ott by year- end as the economy slows, analysts have predicted. The Gross National Product, which is ihe value of all goods and services pro- duced in the United Slates, totaled trillion last year a rise of or 11.3 percent, from the 1978 level. Alter taking into account the effects of inflation, "real" output was 2.3 percent. Inflation Jast year, as measured by ihe Commerce Department's implicit price deflator, was percent compared with percent in 1978, the report said. The implicit price deflator measures cost changes at all levels of the economy, not just for consumers, and is considered to be a more accurate inflation barometer than the Labor Department's more widely publicized Consumer Price For Ihe fourth quarter, economic growth after inflation was gauged at 1.4 percent. Although the October-Dec ember in- crease was less than the third quarter's 3.1 percent increase, it was still far better thdn previous forecasts. The economy grew by I.I percent during lasi year's first quarter and then sagged 2.3 percent during the second quarter. Total GNP for Ihe fourth quarter was a gain of billion over the third quarter. The Commerce Department said final sales during the fourth quarter increased by 567.6 billion compared with an billion third quarter rise. Personal consumption expenditures and government purchases rose while fixed business investment and net exports fell. Personal consumption spending rose billion in the fourth quarter, slightly below the billion third quarter in- crease, the Commerce Department said. Purchases of durable goods increased by billion, less than half of the third quarter rate.. But the slack was made up in non- durable goods, which increased billion compared with a billion rise during the July-September period. After-tax personal income increased billion while personal outlays in- creased billion. That indicates Americans cut back on their personal savings to finance purchases. Personal savings lolaJed billion, a decline of billion from the third quarter rate. The savings rate as a percentage of disposal income fell from 4.3 percent in the third quarter to an historic low of 3.3 percent in the fourth. The Commerce Department had pre- viously announced thai the 1979 personal savings rates was the lowest in 30 years. {See ECONOMY, Page 3) Tehran to Protest Russian Presence In Border Region Trucker Killed At Area Quarry PhotD by Virgie Werner Glenn E. Murray, 48, of Warriors Mark RD 1 was killed Thursday morning when his dump truck backed over the edge of a 70-foot stone pile at the Narehood Limestone Inc. quarry near Tyrone. A passenger in the truck, Charles B. 34, of Fallentlmber was admitted to Tyrone Hospital, where he was reported In fair condition. Firemen from Tyrone's three companies assisted at the accident scene. Story on Page 4. Price of Gold Soars to Ounce By United Press International Gold fever spread across the world's financial markets today with the price per ounce shooting over the 5900 mark in London, Zurich, Hong Kong and'New York. The price rose to J825.50 at the London morning gold fixing. "Trading is rather hectic as speculators from all over cover their position (or ihe a bullion dealer for Sharps Pixley said. The price of gold shot up over- night in Zurich from to open at an ounce. In London, the price jumped to open at an ounce and within minutes the market was trading at an ounce. It climbed lo a new all-lime closing high ot 5817 an ounce in Hong Kong, taking the lead from New York where it sur- passed the mark Thursday. The price of gold, triggered by the crises in Iran and Afghanistan and the renewed East-West cold war, has doubled in two months and tripled within a year. Panic buying set in Tuesday and Wednesday, but the markets, were rela- tively calm Thursday. guess yesterday was Ihe calm before the storm." one Zurich gold dealer said. "The relatively quiet day Thursday seems to have triggered a new wave of buying and the market was also partly influenced by the fact Hong Kong closed at over The price of gold opened on Hong Kong's Chinese gold and silver exchange at an ounce in hectic trading, up a thumping from the previous day's close. Within minutes, it reached an ounce, finally closing at The buying binge in the United Stales, following early profit-taking, stampeded the price on the New York market from a low of an ounce to a high of during trading before closing at a new record. It had closed Wednesday at Gold closed Thursday in Zurich at an ounce, down from Wednesday's (See COLD, Page 3) United Press International Iranian Foreign Minister Sadeq Chotbzadeh said today Iran will protest strongly to the Soviet Union over the presence of Soviet troops in Afghan areas near the Iranian border. "We cannot remain indifferent to the increase in Soviet military presence on our border and we are sensitive to this and will strongly protest against Gholbzadeh said, according to a Tehran radio broadcast monitored in London and Washington. The Tehran Radio also quoted Ghotbzadeh as accusing the United States OS blocking U.N. efforts to solve the crisis between Washington and Tehran. Ghptbzadeh was referring to reports that U.N. Secretary General Kuct Waldheim was attempting to set up a commission to investigate Iran's com- plaints regarding the shah. Washington says all hostages must be released first. The broadcast came as government- banished American reporters packed their bags for theirexodus today from Iran, leaving behind the 50'American hostages who on their 76th day of captivity had scant hope of going anywhere. The expulsion of all reporters working Tor American news organizations left the official Tehran Radio as one of the prima- ry sources of information from Iran, as the Iranian authorities apparently wanted it. The radio said hundreds of thousands of Iranians marched through Tehran and other cities Thursday, mixing a religious commemoration with a massive protest denouncing both the United States and the Soviet Union. Sneaking at a news conference in Tehran. Ghotbzadeh also denied that the SO hostages held in the U.S. embassy since N'ov. 4 were living En "very difficult" conditions. He was specifically denying claims ol bad treatment made in a letter from one of the American hostages that was published in the Washington Post. A reporter asked him for the govern- ment reaction (o reports of Soviet troop concentrations in Afghanistan's Herat province, which flante ihe northern part of Afghanistan's long border with Iran. "We are investigating this and. natu- rally, we cannot remain mdillerent to an increase in the Soviet military presence on our Gholbzadeh said. "We are sensitive to this and will strongly protest against it." In the Mirror Home Ruined Tough Life A log house belonging to a 70-year- old Roaring Spring woman was de- stroyed by fire Thursday night leav- ing her homeless. The woman suf- fered only singed hair when she ran from her bedroom through flames to escape the blaze...........Page 29. Super Laugher? Joe Canu'celli, UPl's executive sports editor, feels Sunday's Super Bowl between Pittsburgh and Los Angeles will be a laugher. The Steelers, dominant team of the 1970s, will coast be says, be- cause of tJieir explosive offense and awesome defense..............Pace a. Yesterday's ClradaUM: "Hoboing is a tough life, day in and day says Mtoona's "Keystone Kid." "It takes a lot of gun to to what I did. Looking back, I can hardly believe it myself some- times." His story's on.......Paje II. INDEX Accidents......14 CUMlfled.-M-Jl Crime...........II Movies..........II N.Y. Slocks....J Obituaries.......4 Opinion..........J Spcrti......Jl-M TV WEATHER TONIGHT: Rain ot drizzle, low in the upper 2te. TOMORROW. Partly cloudy, braezy and olid, with a olgft in the Xte. Dtuib......................Pap a. Two strollers walk across Ihe barren lot thai will become a railroad museum display area Christmas Replies Received From Hostages Hostage's letter Reveals Need for Medical Attention Page The foreign minister's statement fol- lowed strong criticism of Soviet policy by Finance Minister Abolhassan Bani-Sadr at a news conference Wednesday in the Iranian oil port of Abadan. Bani Sadr's remarks were reported later by Iran's stafe-run Pars news agency. Referring to the Russians, Bimi-Sadr said: "They waul us lo he divided rather (hart united, so that they can capture the divided parts, as they did with Afghan- istan, and reach the waters of the Indian Ocean." the statements by the two ministers marked an apparent toughening ot official Iranian attitudes to the Soviet invasion of neighboring Afghanistan, At the United hopes dimmed (or an initiative by 50 American, hostages the oldest of the captives described as a "an ordeal" and "terrible situation" in a letter just received in the United States. Letters from some of the hostages to friends, relatives and well-wishers began arriving this week for the first time in the United States. The letters, written with the per- mission of their Moslem captors in answer to hundreds of thousands of Christmas cards they received, indicated the Ameri- cans, in their 76th day of captivity, were trying to maintain high spirits. But they also depicted the harsh conditions of their captivity. the exiled shah, in an interview broad- cast late Thursday on ABC-TV, denied claims against him by his countrymen of mass murder and torture and vowed he would not abdicate his throne, "Abdicate that does not exist in our Shah Mohammad Reza Pahlavi said in a interview with British journalist David Frost. The shah bitterly denied Iranian charges he was responsible for the deaths of Iranians during his reign and said that it was the Islamic regime who should stand trial, not him. He also hinted his downfall was the result of a conspiracy by oil companies, including American firms, to dirive the (See IRAN, Page 3) Railroad Museum Plans Expanded; Needed By TOM GIBB Staff Writer Plans for the local Railroaders Memorial Museum have been expanded, and trie museum fund drive has been put into high gear to pay for the changes. According to the museum director, Rob- ert Emerson, it has been decided to make the railroad museum's display yard more ex- tensive, and trie cost of the changes is expected to run around "Our plans are more extensive than before, and we're incorporating a much larger display he said. "We're getting more cooperation as far as getting rolling stock is concerned, and we'll need more track, which costs about a foot." museum, located adjacent to Station Mall, was originally estimated to cost about With Ihe almost the museum committee has secured in pledges and anoth- er in a special railroaders memorial fund, the committee has passed the original cost projection. But with the expansion in Ihe works. Ihe committee wants lo raise an additional and will be making a return trip to local businesses which haven't pledged any money yet, the museum director said. (See MUSEUM, 31 ;