Florence Morning News Newspaper Archives Nov 21 1973, Page 1

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Florence Morning News (Newspaper) - November 21, 1973, Florence, South CarolinaGood morning it s wednesday november 21, 1973 our Soth year no. 325 Florence s. C. Daily 10s sunday 15 us. Urged to retaliate against arabs Cambridge mass. Api Arab Oil is not important enough for the United states to give in to Oil blackmail four Nobel prize winning economists said tuesday. Even if the United states presses the israelis to withdraw from occupied lands As the arabs Are demanding the policy change will Only Lead to new Arab requirements the economists said. The statement was issued by nod laureates Paul a. Samuelson of Massachusetts Institute of technology and Kenneth Arrow Simon Kuznets and Wassily Leone if All of Harvard. Our foreign policy should not be deflected in the slightest by the illusion that giving in to Oil blackmail will in fact gain us they said. However they suggested that nations affected by the embargo should consider starting a similar embargo them selves. It would be More productive for consuming nations to Confer on such countermeasures As withholding food and manufactured goods than to outdo each other in subservience which profits them the economists said. Because the United Stales has been Able to bring in Oil from other foreign sources the Over All loss because of the embargo is about 12 per cell of inc nation s total Supply they said. The Scarcity of gasoline and Home heating Oil is due primarily to a shortage of american refining capacity which is not expected to be made up before about 1977." the Oil shortage is not simply the result of the Arab Oil embargo but also Gross mis management on the part of our private Oil Industry abetted by our Leontie said. In i hair statement the economists warned giving in to blackmail on one Issue in one part of the world invites blackmail on every Issue in every part of the world. We nope our policy makers and our Public will remember his and not be dazzled by the Hope of some grand settlement which wraps up Oil and politics in a neat looking package which will soon Start to unravel and Lead to endless Stock Market continuing rapid decline v Floyd Wallace and his gasoline making machine ten Garlins of Gas Tor every 700 of trash you pwt the garbage in. And get the gasoline out Bage in Al the top and get the gasoline out of the says Floyd Wai lace a bout the Oil refinery he built in his Back Yard. Wallace says he feeds leaves grass clip pings table scraps Coal and other garbage into a Furnace and withdraws High octane gasoline. Anybody can build said of his refinery. All it lakes is a vat a Bonfire coiled tubes a a Little Wallace said it Cost him to build his gasoline machine 12 years ago Long before the Energy crisis. He s been distilling his own gasoline Ever since he said and claimed a fuel specialist dropped by last week and found his product has a higher octane than aviation Gas. Wallace said he uses his personal brew in his car. His motorcycle and his Lawnmower. Fie May have an Edge on most of inc rest of us however As he is a Forn scr chemistry teacher. But he claims it s easy. A i m doing is what nature has done for millions of he lust apply a the heal and pressure to organic materials and you get crude Oil much like the stuff that comes out of the ground. Then i Fractionate it. And i can get methane propane Axle grease kerosene diesel fuel or gasoline. I control the octane by Wallace said nobody showed any interest in his gasoline machine until a few weeks ago. University of Michigan prof. David Chynoweth. A hydrocarbon fuel expert said Wallace s technique is called pyrolysis and is fairly Well known. Chynoweth said the Only hitch is a question of whether it can produce gasoline As cheaply As drilling. Wallace meanwhile claims to get 10 Gallons of Gas from 700 pounds of garbage and does t have to worry if the sanitation truck misses his Slop new York a fears that an could have disastrous effects on the Economy drove Stock Market prices dramatically lower tues Day for the second consecutive Day analysts said. Both watched Dow Jones average of 30 industrials and the broader based new York Stock Exchange Index of some common stocks hit their lowest Levels since nov. The indicator fell to and the new Stock Exchange Index dropped 1.16-to" 52.60. On Mon Day fell 28.67 Points its biggest single session loss since May 1962, and inc nose Index dropped 1.72, its greatest single Day loss since its inception in 1966. Since oct. 26, the Dow has dropped 142 Points As a result of investor concern Over the Energy shortage. Although the Index drops were not As dramatic tuesday As the previous Day volume on c worst Day in 11 years showed losses while Only 161 made gains. The pessimism is beginning o Breed on itself in the Board room and on the Exchange said Ralph Acampora of Harris adding to. The sell off said were margin Calls. In margin buying in yes tors up. Only a. Percentage of the Stock Price in Cash. If the Price of a Slock. Drops investors have to. Put up More Cash or sell them s been a of Selling because of margin said Larry Wachtel of Bache 8 co. Institutions Banks insurance companies and Mutual funds which dominate the Market added to the Selling tuesday an . On monday Many institutions had remained on the sidelines neither buying nor Selling amid the uncertainties they noted. On the american Stock sex pared to 16.70 million monday. Analysts noted that another change the Market value Index indicator of the Broad and dra dropped to 95.39, its lowest the Exchange was much heavier malic declines tuesday was level since its inception this 23.96 million shares com that 1.454 big Board issues past september. Patrolman of the year Ronald n. Alford award presented by i gov. Earle Morris Florence patrolman named state s Best Columbia c. Kinald x. Alford of tuesday was. Named South Carolina Highway of the year. A native of Mui Livis the of flyer old Alford sixth stale Cooper to receive the award by the South. Council lie has been with he Highway patrol since 1967 and serves As an instructor in use of the breathalyzer test and inc Vascar mechanical Speed checking device. As patrolman of the year he received a plaque. 5200 Cash a week s free vacation at Hilton i Lead Island and inc use of a new automobile during the vacation. The patrolman of the year was selected by a panel of judges from each of the seven Highway patrol districts in he slate. The award was presented to Alford at a luncheon by . Morris. Morris called for increased retirement acne fils for Law enforcement officers. It is obvious that our present program is not adequate in View of the increasing demands and hazards of those who Morri said. Nixon takes Case to governors Holland Verene win Beach Runoff Baker apparent Darlington Victor by Terry , morning news surf writer Darlington housewife belly Baker apparently upset incumbent City councilman r. B. Myrtle reach col candidate Anco Telephone Campaign. The Fred Holland and Arthur tuesday election brought out Vereen were also apparently elected in a four Way Runoff for to cily Council seals. Uno vote counting had Holland u25, Vereen with candidates j. Brislow in tuesday s Runoff and election by an unofficial three 6h and Bob vote margin 607 to 604. To a Jook 175. The first woman Council member Ever elected in Hal approximately 163 More voters Ihan on nov. 6. Mrs. Baker wife of attorney Kenneth Raker lagged behind her opponent in the first race by More than 30 votes. Kle Clion officials Are expected to certify the Darlington election wednesday morning Memphis Tenn. Apr president Nixon fold the nation s Republican governors tuesday he knew of no further embarrassing revelations which could come out of the watergate scandals and said he was sorry for the problems he had caused them. Nixon huddled for almost two hours with the governors at their Winter conference and several governors said later the president promised them full revelations about watergate. The president looked at us around the room and said i m sorry if 1 have added to your Tennessee gov. Win Field Dunn said. Dunn also said Nixon assured them he knew of no More pain Ful facts about the watergate still to come to Light. He said if there Are he is not aware of Dunn told a news conference. If Here s anything waiting yet to be revealed he s not aware of Deputy White House press Secretary Gerald l. Warren said Nixon Felt it was a very Good session in was very Warren said is Ixon told the governors he would cooperate with the courts and with the special prosecutor that he was determined to make the facts however Warren said he had no further details on precisely How the facts will by presented saying those decisions will be made known soon As we Dunn said Nixon answered the governors questions Exten sively and gave the strongest which have teen Dunn said. Dunn newly installed chair Man of the Republican Gover nors association said Nixon mentioned his personal finances the itt Case and the indication yet that full Dis closure on All aspects of the . Various White House scandals will be forthcoming. Lie indicated a number of will be issued clearly responding to the questions milk Case As potential subjects Nixon making Bis third Southern appearance in four plays spoke before he meeting see Nixon Page 12ai . Purchase of Sinai urged j Lon few api lawmakers of Britain s three main Par ties urged the United nations on tuesday to buy ther Sinai Peninsula As the base Lor a world police Force. A motion presented in the House of commons and signed by 42 members of parliament proposed turning the Sinai into District Buffer zone. 1 it said the British govern ment should ask the United nations to buy the desert Peninsula or take out a Long tease on it for one by a world constabulary As a Laboratory for Large scale irrigation through desalination of sea water and As a permanent settlement area for work refugees. V 9 Darlington voters were target of an intensive personal contact., after a Vole recount. Tobacco committee i meets in Florence a congressional committee up two Days of tobacco hearings in Florence Page 1b. The Florence Jet fuel allotment been Cut lower Speed limits Are expected and the mayor s Energy committee drafts a conservation plan. Page 3a. The Francis Marion patriots defeat North Carolina a Toyan weather Thunder Aho wars Likely. Low 70s lows mid Mads Page 5a. Panel okays boost for social Security Washington a the Bill includes a work Bonus plan Senate finance committee to give million of govern gave final approval tuesday to ment payments annually to a Bill increasing social Security poor Heads of families who have benefits 11 per cent into Steps jobs. This revises the social Over the . Service program for the poor to a 7 per cent boost would be give the slates More flexibility effective on enactment of the in spending Federal funds in his legislation with an additional 4 area percent raise taking effect next Atso Are increased june. Payments to the aged Blind and the House has passed a Sim persons on welfare Ilar Bill but in that version the a new supplemental 7 per cell boost would Lake of Security income program feet next March. Starting in january and a Bolh measures would boost lightening of child support Laws social Security taxes by raising designed to help catch fathers the maximum amount of earn Jjo fuse to make payments Ings subject to the payroll Levy to their Fame pcs on the welfare to in 1974, compared ious the Woric Bonus plan spec by Energy Czar paints gloomy picture Memphis term. A John a. Love. President Nixon s Energy adviser told re publican governors tuesday the current Oil shortage is the worst problem we have faced other than Rogers . Morton Secretary of the Interior who appeared on the Energy panel with love said Public Comfort and pleasure will suffer the most regardless if the ultimate step is gasoline rationing or voluntary cutbacks. Thai s where the real bite is going to Morton said. Moth Morton and love said rationing should be kept on inc Back Burner for use Only if present fuel allocations and voluntary cutbacks Don t work. Senate ready for Ford vote Washington api the nomination of Gerald r. Ford to be vice president cleared its first congressional hurdle tues Day and headed for an Early confirmation vote in the Senate. All nine members of the sen ate rules committee voted to recommend approval of the nomination to the Senate where a vote is set for next week. Of 5 85 chairman Russell b. Long the action followed weeks of etch worker and would be financed by eliminate investigations and hearings into Syer Sun ing the right of taxpayers to de Ford s personal political and employer re duct gasoline taxes in figuring financial background Hal be thl finance committee s their taxable income. Gan after president Nixon named him to replace former vice president Spiro t. Agnew who resigned oct. 10. Rules committee chairman Howard w. Cannon d-nev., said the panel conducted an inquiry of historic proportions on Ford a Michigan Congress Man and House Republican Leader. Reporting the nomination to the Senate floor he said the five democrats and four re publicans acted with the very real possibility that the Nomi Nee could become president of the United hearings on inc Ford Nomi nation continue in the House judiciary committee with a vote expected there sometime next week. A House vote is scheduled for nolaterthandec.6, i Gannon said the rules com Mitten voted after discussing three final Fri checks on mat lers related to the financing of Ford s campaigns for his House Seal

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