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Daily Court Review (Newspaper) - March 22, 1972, Houston, Texas 82 225 HARRIS TEXAS WEDNESDAY AFTERNOON MARCH 1972 FEATURING REAL PROFESSIONAL AND GENERAL NEWS SINGLE COPY Thirty five Cento Auto Industry A Fickle Sweetheart By Vance Bell In the eyes of the steel the auto industry is act ing like a fickle sweetheart reluctant to declare demanding and carrying on an affair away from The automotve field is cur rently thesteel industrys big gest customer and its biggest While most other areas of steel demand are re covering orders from the auto industry remain below Tight Rein on Orders The carmakers continue t o keep a tight rein on ordering from domestic mills even though once high strikehedge inventor ies of steel have virtually disap peared and February sales of new built cars set a record for the The steel mills had hoped bus iness from the auto industry would return to normal this Now it looks as if even April will fall One reason is that auto production this year is running percent behind early 1971 when volume was in flated by high production follow ingthe strike against General Motors Other reasons are the disincli Events In the Charles pastor of the First Methodist will be one of the main speakers at the 76th annual National Associa tion of Credit Mens Congress meeting here May 2125 Main Bank has named John as assistant vice president the installment loan department Bryant will soon open a real estate office in Pasadena The Contempo rary Art 5216 formerly opened Sunday The law firm of Barlow Lacy announce that their offices will moved the first week of April from 16726 El Camino Real to 17044 El Camino Firm will occupy 4100 square feet of office space Partners are Joe Dee Bar low and Donald Also associated with the firm is Billy They are engaged in general civil practice The Southwest Regional Conference of the Harvard Business School will be held at the Astroworld Hotel March 25 Marga ret Cheshire fwas recently named cashier at Mjedical Center Bank The first draft call for 500 to600 young Texans under a new uniform national procedure has been received for April and May by the Texas Selective Service headquarters Bank of the Southwest has named Bill Thomas as trust John Gasson as assistant trust of ficer and Jack Hopkins as loan officer The Texas Com merce Bank will construct a new International Banking Center in new quarters on Travis at Rusk the Citizens National Bank has received tentative approval for a hew downtown bank at 507 Continued on Page 8 tiade Winds Business And Banking Executives Expect Tax Boost After Elections By Lou Schneider Business and banking execu tives admit off the record that income tax increases are need ed to meet the costs of the Fed eral budget Stock Mart Prices Drop Off Sharply By Upham March 1972 Tuesdays stock market sold off increasing the likeli hood of an intermediate correc Toward the news vvjas released that Congress had clear ed the way for passage of Presi dent Nixons devaluation With his signature the value of gold will increase by per This effective devaluation completes Americas obligation to the foreign nations who met at the Smithsonian Conference last December to resolve the interna tional monetary On a very nearterm basis this news could spark a slight possibly taking the Dow Indus trials to the 940945 but we feel that any shortterm rallies should be used to lighten up long trading positions as we now per ceive an eventual target in the Intermediate to longerterm in vestors are urged to make com mitments on weakness as we do not envision any major This as we view is necessary and would be en couraging as it should eventually set the stage for the resumption of a major move early this The best of matched with those of Administration in is that the income tax increases will be legislated soon after the elections early in In the 1960s there was only one year that the realized Federal budget was in The defi cits in the other nine years totaled more than The present Administration is already well on the way toward topping that record in three The actual deficits for fis cal fiscal 1972 and projected one for fiscal 1973 show a cum ulative deficit of Budget Shultz admits that the fiscal 1973 posed budget is only barely in control and doesnt make allow ances for the usual election year inflationary nation of automakers to build in ventories again and their inclina tion to shop for price Price consciousness is evident in the rising interest of the auto companies in lower priced fore ign for this year will buy percent or around net of its steel from foreign buy from Japan will be tons double last years We cant overlook the price and cost advantages this foreign steel provides for GMs Richard Gersten Were trying to com pete with these countries in auto Weve got to compete in cost as Order Backlogs Growing Despite the lack of strong or dering from the automobile in steel companies generally report business continues to im prove at a good back logs exceeding shipments for the first time since last At start of steel stockpiles at manufacturing plants were down to million net a nearnormal At the start of last August after strike hedge stockpiles were swollen to million tons Like the other steel users are keeping current inventories low and requiring quick the business magazine pointed As a raw steel produc Continued on Page 8 Court Speaks Austin Constitutionality of the death penalty has been up held by the Texas Court of Crim inal Judge Truman Roberts con cluded i n t h e divided opinion that execution for a crime is not cruel or unusual punishment for bidden by The issue is now before the Supreme Texas Supreme Court blocked a last effort by the University of Texas at Austin to obtain an Aus tin house deeded to it by a late Lower courts found undue influence had used by UT officials on the aged pro fessor to get his The Supreme Court refused to hear an appeal of an insurance company from a lower court that an Hidalgo County mans suit to recover for loss of a carat diamond ring must be tried on its THE H FAMILY LAWYER i If the anticipated 9 to 10 per cent capital spending increase this year comes it will soon become If it means corporations will once again be heavy seekers of That will add impetus to an up ward move in loan interest Banking opinion is that the present low prime rates are the end of the down David vicepresident in charge of money operations at the New York Manufacturers Hanover Continued on Page 8 By Will Bernard Spicy Testimony To sensation seekers at the this was the big A local politician was on trial for and the victim a 16yearold schoolgirl was scheduled to take the witness stand and tell her But the girl became so nervous about testifying in public that the judge ordered everyone ex cept relatives and newspaper re porters out of the Later found the defen dant appealed on the ground that he had not had a public Whats the Law The Case of the Fighting Peaceniks Turn Inside Todays Cop of the Daily Court Review the Docket of Domestic Relations By Jack Calvin owned and operated a television station and had views that predated the when a group of antiwar protesters wanted to buy advertising time on his station to express antiVietnam senti Calvin turned a deaf ear to their Determined to fight for the aijtiwar group started a court battle to compel Calvin to sell them the advertising time Its my argued Cal and no one can compel me to get involved with one way or the After propaganda is seldom It may be his was the but he still hasnt got any right to prevent us from expressing our views on Hes got an obligation to sell advertis ing time to anyone whos got something to say of public inter as the voice of this coun trys we expect to have a telling If you were the would you compel Calvin to sell air time on his station to the pro testers This is how the judge ruled Yes The judge held that the air waves are a limited and val ued part of the public domain leased out temporarily by the Federal Government which re tains ultimate control of concluded the a television station is obligated to sell advertising time to those iriemibers of the public who wish to speak out on a controversial particularly where the sta tion accepts other kinds of paid using its discretion to balance time availability for different points of Based upon a 0971 United States Court of Appeals his appeal was de The court said clearing the courtroom was justified if that was the only way to get the girls Courts generally agree that judge may exclude spectators if the modesty of a witness makes that But suppose the purpose is not to protect the wit ness but to protect the May a judge exclude spectators because he thinks the testimony might corrupt their morals Unless local law authorizes judges ordinarily do not have that power no matter how lurid the testimony may Thus In a rape the judge ex cluded spectators on the theory that their only motive was to satisfy their m6rbid But an appellate court ruled that the judge had exceeded his The court said the defendants1 right to a public trial is too fun damental to be cast aside so on Page 8 Inside the Court ITEM PAGE Abstract of Assignment of Assumed Birth Building Civil Cases on Trial Court Domestic Relations Docket of Civil Federal Tax Harris County Land Transaction 6 Wine Beer Permits 8 Marriage MaterialmanMechanic Liens 3 Plumbing Public 8 Suits Filed in Civil Courts 2 Trustee Sales for April 1972 8
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