High Point Enterprise Newspaper Archives Apr 28 1974, Page 1

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High Point Enterprise (Newspaper) - April 28, 1974, High Point, North Carolina Weather mild weather to continued through monday 90th year a no. 118 the High Point Enterprise Call us circulation 882-1711 High Point n. C., sunday morning april 28, 1974 176 pages classified ads 885-2177 other depts. 885-2161 daily 10c, sunday 25c end of month Gas crisis appears Over by Louise Cook associated press writer motorists looking for gasoline this weekend found plenty of fuel and officials said it looked like the end of the month crunches that plagued the country were Over. But they warned that the Long lines could be Back. Quot the panic is gone Quot said Harold p. Murphy or. Of Springfield mass., president of the Bay state gasoline retailers association. Quot people Are Able to get Murphy and others stressed however that unless people continue conservation measures the Long lines closed stations and Short supplies would reappear. They said the end of the Arab Oil embargo did not mean an end to the gasoline shortage and expressed concern Over Drivers who have gone Back to pre crisis motoring habits. The automobile association in Utah checked 50 gasoline stations and found that All planned to stay open until saturday evening. Thirty nine of the stations reported they would be open on sunday. Quot none Are limiting their said Woody Dunn manager of the Utah Branch of the aaa. He also said prices seem to have stabilized a 52 cents a gallon for regular gasoline on the average and 57 cents for Premium. Quot there definitely is an improvement a said Dunn. Quot sunday was a difficult Day to travel during the Winter. Presently there is no gasoline stations stopped pumping Gas on sundays last december partly in response to a presidential request for conservation partly because they simply did t have the fuel to sell. Motorists got used to stocking up ahead of time if they wanted to drive during the weekend or facing the possibility of running out of gasoline. Lines of several blocks formed at the few stations that were open on Sun Day and there were numerous reports of Price gouging. The end of the Oil embargo and increased allocations for March and april brought an easing of the situation an aaa spokesman in Florida said a Check of 263 stations showed More were opening on sunday this weekend than previously. Quot there s plenty of Gas and no end of the month crunch Quot he said Jim Campbell president of the California service stations association said Quot in Northern California the lines have diminished and there s been a reduction in panic buying. We re getting More supplies from the Oil companies but it s still less than the projected growth rate from 1972. Quot i think people Are Correct in assuming there s More Gas around than earlier this he said Quot but if we went Back to driving like in 1973 with no care and no concern then i d think we d have some serious problems some areas mainly in the mid Atlantic states said they already had problems new Jersey officials were talking about reinstating the Odd even rationing system. Jerry Ferrara executive director of the new Jersey gasoline retailers association said the situation Wasny to nearly so bad As in december and january but. Added Quot we re in a Little tighter position than at the end of last month. Of the weekend turns out to be a big drive one. There could be a Short Supply for a few the president of the Penn Syliama Delaware gasoline service station dealers association said the situation in the two states was a reaching the critical stage and Alfred Kleinfeld. Head of the new York office of the Federal Energy office said Quot it looks like there a a distinct possibility of lines and or shortages the last two Days of this month. Coned shocks experts by suspending payouts ii by Chet Currier a business writer new York a the financial Side effects of the nations Energy problems hit some 300,000 americans from a new direction this past week. The news caught even the financial experts by Surprise consolidated Edison of new York. One of the nation s largest electric utilities said it would t pay a dividend in the current Quarter after 89 years of uninterrupted payouts. Coned gave three interrelated reasons for its decision soaring fuel prices reduced revenues because of Energy conservation measures and trouble collecting payment from customers on their rising electric Bills. The decision had a chilling Impact throughout the financial Community. Utility stocks by Long standing tradition have been a Safe Refuge for conservative for answers to questions or help with a problem Call or write action line in care of the Enterprise. Every request is considered but please understand that the volume makes it impossible to answer or even acknowledge every picker q. Is there any place i can get guitar lessons As i have been trying to get guitar lessons since Christmas and have not been Able to please hurry. Thank you. A. Look under Quot instructions no. 5 in the classified ads. Guitar teachers frequently More junk q. I was wondering Why at Avenue there is a junk car that Bas been sitting on the Street for about a year and also a junk truck sitting in the Yard. The police have been notified about the car and the City has been notified about the junk truck and nothing has been done about it. The car is right on a Hill and it is very dangerous for people going Down the Hill because they have to move to the Middle of the Street. Anon. A. The persons responsible for the vehicles were notified to remove them by april 15. The truck in the Yard has been moved and the Auto now has current License plates according to the chief building inspector Freeman dry Dock q. How do they get big ships into a dry Dock a. There Are two kinds of dry docks graving docks and floating docks. The term Quot graving was used in Days of wooden ships and meant cleaning a Bottom of the vessel and coating it with tar. This kind looks like a huge Concrete Bath tub sunk into the ground with one end open onto the Harbor or waterway. When a ship enters the Dock a floating or sliding Gate or Caisson is placed against the open end. Pumps suck the water out and the ship slowly sinks. The keel comes to rest on wooden blocks on the floor of the Dock while spars or Long pieces of Wood Are wedged Between the ship and sides of the Dock to help support it. After repairs Are made the Dock is flooded until the water level reaches that of the water outside the Gate. Floating docks Are either self propelled or towed from place to place. It looks like a giant shoe Box with the top and ends removed. The Hull Bottom and win Walls sides contain compartments. When water enters the compartments the Dock sinks Low enough for the ship to enter. Then pumps suck the water out and the Dock rises lifting the ship out of the water while blocks and spars support it. When repairs Are made the compartments Are flooded again unti the Dock sinks enough to allow the ship to off please put in action line As soon As possible any girls who want to get together on a soft Ball team in the Allen Jay area or elsewhere please Call me at this number 431-7534. Mrs. off the american Assn. Of University women is Bolding their annual used Book Sale on saturday at the College Village shopping Center. Hours Are to . To 5 30 . A kinds of books will be available novels children s books text books paperbacks and religious books of anyone is cleaning out their Book twelves and would like to donate books for this Sale please Call 885-8356 or 869-5538 and arrangements will be made to pick them up. Investors because of the assumed reliability of their dividends. The Small investor wary of More volatile stocks still could turn to them for income. Of con eds approximately 308.000 shareholders the company says More than 90 per cent Are individuals. The dividend suspension announced tuesday morning sent the Price of the company a Stock plunging from $18 to $12.25 that Day. As of fridays close it stood at $12.37. Wall Street analysts said the psychological Impact of the news contributed to declines in the Stock Market generally particularly in the shares of other utilities. The news was Quot a real shocker a in the words of one Wall Street analyst. Sally Mencken a new York widow in her 60s, agreed. Mrs. Mencken says she built Quot a Nice nest egg Quot in stocks Over the years and owns a Good sized chunk of coned shares. Quot i live on that she says. Quot when i bought coned at $34 a while Back i thought i was being smart and making a Good investment. Now ifs Down to $12 and i feel pretty the average Holder of con eds 61.5 million common shares owns about 200 of them. Over the past several years that has been Good for a $90 dividend Check every three months. F or a number of years including last year those dividends have been considered to be a Quot return of capital a and therefore not taxable a a fact which clearly added to their Appeal. That comfortable return now has Given Way to an uncomfortable series of questions. Does this mean other utilities dividends Are in jeopardy and what about the future for investors Riding out the current storm in con eds Stock Wally French a recognized expert on the Industry who runs the Utility scope program at Wall Street s Argus research corp., says that before the coned action he saw no reason to expect a dividend Cut by any of the other 49 largest electric utilities in the country. Now that the ice has been broken he says some negative dividend action by some other major Power company Quot is a possibility a but we re predicting it won t happen. Nobody else faces the same situation that coned March proceeds Nixon impeachment rally a wire photo rally crowd urges impeachment syrian artillery kills 8 israelis by the associated press syrian hellfire killed eight israelis on the Golan Heights War front saturday and six More died in a helicopter crash while evacuating wounded from the Battle the Tel Aviv command said. It was israelis biggest casualty toll for one Day since the october War the israeli command said. It was the second helicopter mishap for the israelis in eight Days. An in Quiry committee was investigating the collision of two choppers Only a few Hundred Yards from an Airport control Tower near the Galilee town of Rosh Pina. Israel says it has lost 40 dead and 99 wounded on the Golan front since the october War. Despite saturdays toll israeli officers said the fighting on the front has de escalated slightly since the beginning of the week when syrian and israeli jets flew bombing and strafing mis Sions across the truce line. The israelis and syrians have been battling for weeks on the strategic slopes of it. Hermon which has a 9,200-foot Summit overlooking the entire Golan Heights front from Israel proper to Damascus and beyond. In Cairo president Anwar Sadat replied to soviet communist party chief Leonid i. Brezhnev Scall for an egyptian soviet Summit but details were not Given Egypt a official Middle East news Agency said. Sadat called for the meeting last week to avoid further a misunderstandings Quot which he said apparently led to soviet reluctance to Supply arms Egypt had requested. In the same speech Sadat said he was breaking an 18-year Reliance on soviet weaponry and turning to other sources. Brezhnev then invited Sadat to visit Moscow for talks. By Donald Sanders associated press writer Washington apr a crowd officially estimated at 8,000 to 10,000 staged a March and rally on the mall in front of the Capitol saturday to urge that Congress impeach and convict president Nixon. The crowd mostly Young and predominantly White was orderly and Good Humoured. They paid Little attention when nine streakers a two of them Young women and the rest men a dashed through their ranks Midway in the program of speeches. One speaker rep Parren j. Mitchell d-md., a member of a congressional Black caucus told a cheering crowd a a the danger to America is that a dangerous duplicitous deceitful Man is in the White House. We must get rid of him before he destroys this Mitchell said Quot we shall indeed impeach Richard Nixon and we shall indeed i Hope convict him in the Senate Quot but he added that there must be grassroots supports for the drive. Special buses brought people to the Washington rally from new York Massachusetts Pennsylvania Maryland and other states. The demonstrators assembled near the reflecting Pool Between the Lincoln memorial and the Washington Monument and then marched toward the Capitol. Congress had taken elaborate precautions to Avert any trouble and the Capitol was ringed with police. At the rally site itself National Park police were less evident. The crowd estimate of 8,-000 to 10.000 was made by the metropolitan police who escorted the marchers to the rally. Some reporters thought the estimate was somewhat High. Police did not interfere when the streakers appeared wearing Nixon masks and shouting Quot no More some of them carried flags emblazoned with a marijuana Leaf. Many in the crowd carried banners with such legends As Quot exorcise Nixon a Quot jail to the chief Quot Quot impeach the tax dodger a impeach the tape doctor a and Quot pick out your drapes mrs. Ford. A sponsors of the rally included a number of activist and Antiwar groups and such individuals As or. Benjamin spook former atty. Gen Ramsey Clark Jane Fonda and reps Bella Abzug. D-n.y., and Ron Dellums a Calif. Mitchell however was the Only member of Congress to speak. Landslides Bury peruvian villages Lima Peru a a Strong Earth tremor Shook a Large Section of Southern Peru Early saturday As massive landslides High in the Andes buried two villages and floods submerged a third. The slides also blocked a River and destroyed a Road. Persistent Rains prevented helicopters from reaching the area of the slides and Overland Rescue teams were blocked by mired roads and smaller mudslides. No casualties were reported in the tremor which hit the mountainous province of Arequipa 750 Miles South of Lima. But police said at least 21 persons were missing and presumed dead in the landslides 350 Miles Southeast of the capital. A peruvian television station quoted Highway crewmen As saying the victims numbered about 200 in All but this could not be confirmed. First word of the landslides was brought by american Larry Allen general manager of Cen Tromin Peru. Russian Airliner crashes Moscow a a soviet Airliner crashed in a Ball of flame two minutes after taking off from the Leningrad Airport saturday night. Western travellers reported they said an airline employee told them too persons were feared dead. Initial reports did not say whether any foreigners were aboard the Ilyushin 18 four engine Turboprop. It was on a Domestic flight to Krasnodar in Southern Russia in keeping with soviet policy the crash was not reported by soviet officials. The russians rarely reveal aviation disasters especially those not involving foreigners. The Ilyushin 18 was introduced in 1959 and can carry up to 122 passengers. The travellers said they were told by Airport ground personnel that one of the planets engines caught fire shortly after Takeoff and the Aeroflot Airliner plummeted to the ground. The crash was the first reported in the soviet Union this year. The Domo Medovo Airport near Moscow was the site of a crash last december in which 13 persons died and another in october in which 28 persons were reported killed. Income tax Cut support lagging Washington a Calls by nationally known democratic senators for a personal income tax Cut have drawn Little initial support in the House which has the main responsibility for Revenue legislation. A sampling of opinion among members of the tax writing ways and Means committee brought comments ranging from outright opposition to guarded willingness to consider tax reduction if the Economy continues in the doldrums. Chairman Wilbur d. Mills dark. Said consideration of tax reduction would be premature until about july when More information about the Economy will be available. He has said Congress might have to consider selective tax adjustments to encourage production by key industries. As a practical political matter he has said any tax Aid to business would have to be accompanied by some easing of individual burdens the senior Republican member of the committee inside Reading help for the aged. Page id Cates cries blues. Page 2a alaskan adventure Page 2d classified. Pages 7-24d editorial Page 4a women s news. Section b sports. Section c television Page 4d entertainment pages 3-4-5d obituaries. Page 7d rep. Herman t Schneebeli of Pennsylvania shrugged off As a pure political Ballyhoo Quot the statements of democratic senators such As Edward m. Kennedy of Massachusetts and Walter f. Mondale and Hubert h. Humphrey of Minnesota that a Quick tax Cut is needed Quot you done to hear anybody on this House Side talking like that do you a Schneebeli asked. Quot it would be absurd to Cut taxes during the kind of inflation we Are having a two members of what is generally considered the Liberal democratic Wing of the committee were unenthusiastic. A the kind of tax Cut they re talking about might mean $50 or so to the average Guy a said rep. Charles a. Vanik of Ohio. Quot i d rather see the Money used directly on programs to stimulate rep. Sam Gibbons of Florida said tax reductions Are slow to translate into economic pickup. Any now contemplated he said would have to be for the lowest income groups a Many of whom pay no income tax in any Case

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