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High Point Enterprise Newspaper Archives Dec 11 1973, Page 3

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High Point Enterprise (Newspaper) - December 11, 1973, High Point, North Carolina Committee advises end Home mortgage ceilings business notes Raleigh apr the 1974 North Carolina general Assembly will receive a recommendation for a one year removal of the state s interest ceiling on Home mortgages. The recommendation was big profits prevention requested Charlotte apr the North Carolina state Al Cio executive Board wants Congress Quot to protect the american Public against Large Windfall profits by corporations Quot during the Energy crisis. The Board issued a statement monday advocating a a prohibitive excess profits tax on Windfall profits made during the Energy Quot we Call upon Congress to make firm guarantees that United states workers do not Bear the Brunt of an Energy Cut while employers and Gas and Power companies boost their profits higher and higher Quot the Board said. It added Quot our experience leads us to believe that big business and Industry influence May Well be used to increase their profits while the american people sacrifice their Comfort convenience jobs health and Environ mental the Board also urged that Congress a a appoint citizens with no conflict of interest to administer whatever programs they find necessary to control the present Energy crisis. Energy administrators must not have any connection with the Gas Oil Coal or Utility made monday by a legislative committee studying the state s usury Laws. The proposal was offered by sen Bobby l. Barker. A Wake. The general Assembly will also be asked to establish an interim committee to further study the states colonial to make refunds Greensboro . A it a the internal Revenue service today said one of the nation s largest grocery store chains colonial stores inc., will refund $22,724 to customers in North Carolina and Virginia by March 23.1974. The irs said the refunds Are the result of an investigation that showed colonial s Raleigh. N c. Division which includes 74 stores in North Carolina and Virginia was not in compliance with the economic stabilization act during the period july 19 to sept. 9, 1973. . Spearman vice president of the Raleigh division said the problem was caused by confusion Over regulations during the Early Days of phase in. Quot overcharges if any a he said Quot were unintentional and due to a misunderstanding of the regulations through confusion during the change from phase Iii to stage a of phase the refunds will be passed along As reductions in the Price of grocery meat and produce items below the Levels permitted under phase in regulations. The division has already returned $3,090 to the Public the irs said leaving a balance of $19,634 to be refunded. The weather s Osu turn ratio Fri. My of min Ifa Whf Hoa a Uto a 0t comm Mac o \ forecast ?>#.��?� Mhz i to mama us a a a a a a a a Ltd a a a a my i a a a a a uni a Ltd a a a a not As cold wednesday for mostly sunny skies and not quite As cold with the probability of precipitation near Zero. Wednesdays High should be in the mid to upper 40s. The Outlook for thursday is for warmer temperatures with a Chance of showers. Today a High was expected to be near 40. Snow made roads hazardous in the North Carolina mountains today. The Snow was caused by cold Arctic air spreading eastward across the state. Brisk Northwest winds ushered in the cold air. For the High Point area the Friendship Weatherman predicts Clear skies and cold tonight with the probability of any precipitation near Zero. Tonight slow is expected to be near 20. Last night s Low was 25. Wednesday s forecast Calls forecast North Carolina. A few Snow flurries Over North portion ending this morning followed by Clearing today. Mostly sunny elsewhere. Windy and cold with highs in the 30s West to 40s East portion to near 50 along the coast. Clear and cold tonight with lows in the teens mountains around 20 Inland to upper 20s and Low 30s coast. Mostly sunny and not so cold wednesday with highs in the upper 40s and Low 50s. South Carolina mostly sunny and cooler today. Fair and cold tonight. Wednesday mostly sunny and warmer. Highs today around 50, lows tonight around 30 and highs wednesday in the 50s. Lending Laws. The action was taken Over Strong objections of consumer advocates. Mrs. Lillian woo president of the North Carolina Consumers Council was one of three consumer advocates on the 21-member committee to vote against the proposal. At present mortgages from state chartered lending institutions Are limited to an 8 per cent interest on Home Loans below $50,000 and to 9 per cent on Home Loans above $50,000. Loan Industry representatives have argued that free Market Competition and not a fixed ceiling should set the states Home loan interest rates. Quot i Don t think Competition will Lead to lower interest rates Quot said mrs. Woo. Quot its just not that kind of stabilizing Force. I m sure Well be hitting the highs As much As the Public can Barker s proposal also Calls for elimination of the 2 per cent pre payment penalty on Loans repaid within three years. According to the proposal once the year Long Experiment is Over interest rates would revert to their present Levels. Sen. Jack Stevens a Bun Combe said the measure Quot does no to stand a Chanee a of passage without an interest limit. He said Quot there s just no Way with the Way Economy and interest rates Are going these former rep. Richard Clark of Monroe joined mrs. Woo and mrs. Ruth Cooke a representative for the n. C. Committee for social legislation in opposing the measure. Stevens abstained from voting while the other members voted for it. Rush promoted Winston Salem Gaylord r. Rush has been promoted to treasurer and chief financial officer of Salem carpet Mills inc., headquartered in win Ston Salem by a Jai a native of it Chi 111 h 1 h 1 of Irp Rush attended High Point College and was formerly divisional accounting manager for the j. P. Stevens k co., inc., Hickory and controller and chief financial officer for pargo. Inc., Charlotte before going to Salem carpet As controller in april of this year. The son of mrs. Robert Rush or. Of High Point and the late or. Rush he is married to the former Brenda Mcdaniel also of High Point. They have two sons Gregory. 6, and Todd 3. The family lives in Kernersville. Zirkel cited Carl j. Zirkel of Jamestown has earned recognition As a member of the bituminous insurance 20-year club. Zirkel joined the staff of bituminous Branch office in Rock Island 111. June 8, 1953, where he worked As an adjuster. In 1954 he was transferred to Raleigh As resident adjuster. He became resident claim adjuster in Jamestown in october 1960 he and 15 other members of the bituminous staff from throughout the nation were honoured recently in ceremonies at the companies Home offices in Rock Island Iii. Bituminous insurance companies wholly owned subsidiaries of Bitch corporation has offices in Jamestown. One six year term for . President three Day forecast North Carolina extended Outlook thursday through saturday a Chance of showers thursday night and Friday fair saturday. Warmer thursday turning cooler Friday and saturday. Highs thursday 50s and Low 60s. Cooling to near 50s West and in the 53s East portion by saturday. Overnight lows mostly in the 30s, with some Low 40s in the East. Temperatures by the associated press 24 hours ending 7 a m. Est station h l or Asheville Clear 46 16 to. Augusta Clear 56 28 Charleston Clear 58 33 Charlotte Clear 51 25 to. Columbia Clear 58 30 Greensboro p c. 49 25 .03 Greenville so. Clr 51 19 Raleigh p c. 55 29 to. Savannah Clear 57 29 Wilmington p c. 63 35 to. By Linda Deutsch associated press writer Santa Barbara. Calif. Api a the Senate watergate committee s Deputy chief counsel says the panel s final report is Likely to propose major changes in the United states government. Among the changes Rufus Edmisten says the committee will probably recommend is a one term six year limitation on the presidency. He also said during an interview monday that the committee will also Likely suggest that the department of Justice be removed from the executive Branch of government Edmisten said that although the committee has been unable to Contact Recluse billionaire Howard Hughes for an appearance before the committee when it resumes hearings in january three of Hughes colleagues will be subpoenaed to testify. He said Hughes aides Robert Maheu and Richard Danner and Hughes attorney Chester Davis would be asked about a $100,000 Hughes contribution to president Nixon a Campaign fund. Quot if we could find Howard Hughes and subpoena him. We certainly would a Edmisten said. Edmisten also said Nixon a close personal Friend c. G. Quot Bebel Rebozo will be asked to testify. Edmisten said the watergate committee will Tell the . Attorney for the District of Columbia which witnesses it believes lied under oath at the hearings but will neither urge nor discourage prosecution. Edmisten was Here to attend a conference of scholars at the Center for the study of democratic institutions. The conference is seeking to evaluate the Constitution As it relates to watergate. Do this of u n ext false Teeth drop at the wrong time afraid Fain Teeth will drop at Tho wrong time a denture adhesive ran help. A stealth Tower fives denture a longer firmer header hold. W by be embarrassed for More a purity and Comfort use fas tace the denture adhesive powder. Dentures that fit Are essential to health. See your dentist regularly. Want a Nice Christmas w a v y a t a. W ask for these Beautiful mags new from Western wheels for pintos vegas Toyota amp Dat Sun a Ali u Cakry each Ott the tire Mart 124 s. Elm Street Mph. 885-2944 r t it i of beware at Christmas time of that innocent Little word Quot wholesale Quot hire is what the dictionary says about the word Quot who Esaie Quot Quot the sol of goods in Large bulk or quantify of opposed to retail Selling. Hence or done in a Large so Don t be fooled by the word Quot wholesale. Quot remember Nash saves you Cash Quot Nash jewelry amp loan co. 127 n. Main k Umi a v in to t a ii h p \ 4 i v k Fri a a . Tries to Patch nato ties by Anthony Collings associated press writer Brussels. Belgium apr Secretary of state Henry a. Kissinger today reaffirmed the United states government s support for its european allies. He said he will meet soon with the foreign ministers of the nine common Market countries for More a Frank exchanges about the Atlantic relationship. A we owe our european allies respect for their sensibilities so they Don t feel they be become objects of policy a Kissinger told a news conference at the end of a two Day meeting of the foreign ministers of the North Atlantic treaty organization. Kissinger and French foreign minister Michel Jobert clashed sharply at the opening of the two Day meeting monday. Hut they had breakfast together today. And a French spokesman said Kissinger at the final nato session paid tribute to Jobert for his contribution to the new Atlantic declaration of principles now being drawn up by the allies permanent representatives at nato Headquarters in Brussels. The French spokesman said the ministers agreed the declaration which Kissinger proposed last Spring to put new life into the Alliance would be published on natos 2>th anniversary next Spring. The 15 foreign ministers in their communique summing up the meeting said the new declaration was needed in View of Quot the profound changes taking place in the world. They said it should Quot serve to guide the Alliance in its vital tasks of maintaining peace improving East West relations and promoting greater Security and Well being a Kissinger was to Fly to London later today for a major speech wednesday night on . Policy. . Officials in Brussels refused to discuss a report in the Baltimore Sun that a foreign intelligence or police Agency had warned of a plot to assassinate Kissinger. Chi High Point Enterprise tuesday december la 1973 3a diplomats wary of soviet role in Mideast situation iv-., i an a news analysis by Arthur l. Gashon associated press writer Brussels Belgium apr Secretary of state Henry a. Kissinger and other key foreign ministers of the North Atlantic a 111 a Nee Are suspicious of what the russians Are doing behind the screen of East West detente. Max Van Der Stoel of the Netherlands voiced the underlying mood when he told the nato Council of foreign ministers Quot we have to ask ourselves if Quick Okay for Saxbe indicated Washington a president Nixon has formally submitted the nomination of sen. William b. Saxbe As attorney general to a Senate Likely to approve him overwhelmingly. Hearings on the nomination of the 57-year-old Ohio Republican May begin As Early As this afternoon before the Senate judiciary committee. Senate leaders Hope to Complete action on the Saxbe nomination before Congress ends its current session late next week. Majority Leader Mike mans Licud. D-mont., said the hearings would be thorough. The likelihood of overwhelming Senate approval of Saxbe was indicated nov. 27 when the Senate voted 75 to 16 for a Bill that lowered the attorney general s pay from $60,000 to $35,000 to permit Saxbe to serve. The legislation was designed to get around a constitutional Barrier that existed because the attorney general s pay had been raised during Saxbe s Senate term. The Constitution bars members of Congress from being named to Federal posts whose salary or other benefits have been increased during their terms. Alcohol a problem investigate tile soviets did not perhaps put the arabs up to using the weapon of Oil to undercut the economies of the industrialized West. Indeed we in nato have to find out if the soviets perhaps did not instigate the Arab attack on the dutch ministers comment might be attributable to the fact that the Netherlands is the victim of a total Arab Oil Boycott for its pro israeli policy. But the experienced diplomats of Britain. France and the United states also cast doubt on the Kremlin s purposes. And experts of the nato secretariat reported the soviets despite preaching peace still Are building up their military Power at an alarming rate foreign Secretary sir Alec Douglas Home of Britain new in returned from talks in Flowers for All occasions High Point t leading floret Grace Flower shop be t a n a a 4mm� in 401$ Fin til Mil t Moscow came out flatly against the idea of a Summit conference to sign a new Security treaty a a longtime soviet goal. He said there has been no tangible Progress at the 34-na-Tion Geneva talks or european Security and cooperation which the soviets want to raise to the Summit level in the next round of negotiations. Foreign minister Michel to Bart of France went further. He said the americans by entering into their private arrangements with Moscow were weakening nato and exposing Western Europe to attack. Ford a i Grubb s Ford 1-40 s. Hwy. 66 Kernersville . 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