High Point Enterprise Newspaper Archives Dec 28 1973, Page 1

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High Point Enterprise (Newspaper) - December 28, 1973, High Point, North Carolina The weather possible showers More data on Page 3a 89th year no. 361 the High Point Enterprise Call us circulation. 882-1719 classified ads.885-2177 Aii other departments 885-2161 High Point n. C., Friday afternoon december 28,1973 22 pages daily 10c, sunday 25c Oil fired Home heating Cut 6 degree fuel regulations effective Jan. 15 by Stan Benjamin associated press writer Washington a Energy chief William e. Simon ordered during the night a six degree Cut in Oil fired Home heating and put service stations last in line for gasoline starting Jan. 15. Differing fundamentally from previous appeals Simon a order to lower thermostats now places a direct Legal obligation on the Householder or property owner to comply. If he does no the a will run out of Oil. For a consumer that is the Only Legal penalty. Fines run up to $5,000 for any violation by his supplier. Commercial buildings heated with Oil must drop their thermostats to degrees. The temperature reductions must be made below the thermostat settings used in the corresponding month of 1972. Buildings heated with Gas electricity or Coal Are not included in this order. The Federal Energy office said it was making Jan. 15 a the implementation Date for All provisions a regardless of varying dates of Legal effectiveness because of substantial revisions that made it a impractical to expect instantaneous the administration has had mandatory allocation programs in effect for propane since last oct. 2 and for Middle distillate oils including Home heating Oil and diesel fuel since nov. I. But they Are relatively crude systems assigning priorities to certain classes of users but without the detailed quantities percentages and thermostat reductions imposed by the new regulations. Rules for gasoline butane Gas Home heating Oil and diesel fuel take effect Jan. La replacing existing programs in effect until then. The other regulations Are now effective and All of them Are to be fully applied beginning Jan 15. The official regulations included Many revisions since they were proposed last dec. 12. But the gasoline allocation system was virtually unchanged. It assigned top priority to essential services purchasing gasoline in bulk second priority to other businesses purchasing in bulk and the leftovers to All others including the service stations. The regulations left unspecified just How much gasoline would be made available but remarks by Simon earlier thursday appeared to indicate that. The previously proposed reduction in gasoline production to a level 5 per cent lower than in 1972 probably would be adopted. While the original proposal spelled that out the version i Howard indicted Las vegas Nev. A Howard Hughes the much travelled and much hidden billionaire is under Federal indictment for Stock manipulation in his 1970 Purchase of a Western regional airline. Spokesmen for Hughes who now is believed sequestered in a hotel in the Bahamas said today they would have no comment on the indictment until they receive copies of it later today. Richard Hannah who is based in los Angeles declined to say whether he had been in Contact with the 68-year-old Hughes who faces criminal charges for the first time in his much publicized life. A former top Hughes aide and three others were named in the nine count indictment returned thursday by a Federal grand jury. In it Hughes and three of his co defendants Are accused of conspiring to pressure directors of air West airlines to sell out to Hughes by depressing the value of the airlines Stock and then threatening lawsuits against the directors. The indictment came one week after Hughes secretly left London. Nally adopted left it up to Simon s Federal Energy office to set the reduction and revise it Quinerly. Simon told newsmen thursday gasoline allocations must be Cut some 900,000 barrels per Day a the amount which was the basis for the original proposal. Other key provisions of the new regulations included a adoption of earlier proposals for allocating Home heating Oil. Diesel fuel and other a Middle distillates a requiring heating reductions of 6 degrees in Homes and to degrees in other buildings. A revised rules for the heavy fuel Oil called requiring the 6-and Hwe Gree heating reductions instead of previously proposed percentage fuel reductions and adding safeguards on fuel cutbacks to electric utilities to avoid Power blackouts. A revised rules for aviation fuel assigning major airlines 95 per cent of the fuel they used in 1972 instead of 85 per cent As previously proposed. Regional airlines and air taxis Vin get All of their 1972 fuel supplies instead of Only 90 per cent. A rules to assure that petrochemical plants will get All the raw material they need a and completely revised rules for propane and butane Gas replacing a Complex priority system with a simpler three stage distribution first to petrochemical and synthetic rubber production then to a a traditional markets for liquid Petroleum Gas including Industrial fuel and finally if any is left to gasoline blending. In gasoline allocations top priority is assigned to bulk purchasers engaged in Energy production agriculture Public transportation and emergency services to receive All they need Energy producers and Public transportation Are to receive All the a Middle distillate Quot oils they need a primarily diesel fuel. Emergency services Are to get As much As they got in the corresponding month of 1972. Users of Light heating oils Are to get enough to maintain temperatures at the required 6-and 10-degree reductions once the needs of those users Are served agriculture Industry freight and mail hauling Are to get up to to per cent More Middle distillate Oil than in 1972 and others would get As much As in 1972. The defense department previously assigned fuel to meet a Aioo per cent of its current requirements Quot lost that guarantee in the final regulations which Promise Only that allocations to defense a will be based on Quot current requirements subject to presidential review. The regulations also added a new provision permitting refiners and importers to divert up to 5 per cent of the available fuel from one state or Region to another to ease unpredictable imbalances without prior approval from the Federal Energy office. Earlier thursday Simon ordered creation of a standby system for rationing gasoline including the printing of a three month Supply of ration coupons but he postponed for at least six weeks the decision see fuel on 2a vow Quot to two mrw v rn�ipw1 we Quot props planned for Economy of it falters Sample design of Gas rationing col Pon measures 1�?~i by 3 inches Gas rationing coupons can be bought and sold by Harry f. Rosenthal associated press writer Washington a it looks like a shrunken Dollar Bill but it could become More valuable than the real thing if the government rations gasoline. The ration coupons being readied for that doleful Day Bear the picture of George Washington and the inscription one unit of gasoline. There is a place for your state your License plate Howard Hughes he reportedly flew immediately to the Bahamas and took up residence on the top two floors of a hotel owned by another publicity shy billionaire. His arrival in the Bahamas if it occurred came Only weeks after fugitive financier Robert l. Vesco was successful there in avoiding extradition proceedings to the United states to face criminal charges. So a Howard on 2a number and your name. If you Are age 18 or Over and a licensed Driver you la get a months Supply of coupons for $1. You can sell the coupons for whatever you can get if you done to need them. You can buy them at the going rate if you need More. That in essence is How it will work. A Coupon might be Worth five Gallons one month six Gallons the next. Energy chief William e. Simon estimates that the monthly average per Driver will be 32-35 Gallons. But How Many coupons you will get for your initial Dollar will vary depending on whether you live in a densely populated area or not on How much mass transportation is available and other factors. Come March i. The earliest the program could be put in effect this is what might happen you a receive an authorization card in the mail prepared by your states Drivers License computer. In the two week period before rationing starts you take the card to a Bank or Post office a that decision Hasni to been made a for one months Supply of coupons. It will Cost $1, to defray the $1,4 billion annual Bill for the rationing machinery. The coupons will be printed in a different color each month but Are spendable Over a 60-Day period. There will be announcements of How Many Gallons you can buy with them and changes could be made month by month. Your service station will collect the right number of coupons and turn them in to a Bank to account for the number of Gallons he a sold. The government won t have any part in the private horse trading Over coupons. They can be sold by anyone who a got them and the Price will depend on Supply and demand. Simon predicts the so called White Market will quickly level out and there la be a going rate. He estimates that gasoline will Cost 70-75 cents a gallon with a combination of White Market tickets and pump Price. The Driver who can make his ration last will be paying Only the pump Price plus the 2 cents or so a gallon that he paid for the coupons initially. The free Market system is designed to do away with the Large bureaucracy needed to make rationing work in world War ii. Then there were 60,000 paid employees and 270,000 volunteers to administer the program. This time the government expects to pay for 50 employees in each state. 500 at the Federal level and for one 5-Man rationing Board in each county. Where More people Are required the state would pay. What s inside amusements. .10a Bridge. So classified ads. 6-1 in comics. .12b crossword. So editorials. Financial. Obituaries. .2b sports. .3-5b television. Women a news .6-8a weather. .3 a by Jeffrey Mills associated press writer Washington a president Nixon s top economic adviser predicts the Economy will continue to grow in 1974. But he says the documents promised by Laird by Randolph e. Schmid associated press writer Washington a White House aide Melvin Laird said today the White House is planning to release documents dealing with president Nixon a role in the itt antitrust Case and political contributions by milk producers. Laird said the documents Are ready and disclosure is awaiting Only a briefing with Republican congressional leaders. Laird was asked at a news conference whether the administration s Effort to answer watergate related charges involving Nixon had come to a halt. A the decision has been made to release material dealing with the itt and milk fund cases and i know of no decision to rescind Laird said. Laird said a briefing with the Republican leaders had been scheduled for last week but that the press of business in the adjournment bound Congress prevented it. Laird who emphasized he was speaking for himself said he was concerned about any Broad release of White House documents and particularly tapes or summaries of them in View of the recent incident w Hen a White House tape was played at a cocktail party. He said he would advise that Nixon and his aides give great thought before agreeing to any wholesale release of such information. Earlier sources said the White House has decided not to release summaries and transcripts of key presidential conversations because of the Senate watergate committee s Effort to gain Broad Access to presidential files. The committee issued a subpoena for some 500 tapes and scores of documents and key aides decided that release of material then in preparation could Hurt the presidents fight against the committee sub see documents on 2a administration will propose measures to support the Economy if the Energy shortage or other factors imperil growth. Chairman Herbert Stein of the presidents Council of economic advisers on thursday predicted real economic growth of Between i and 2 per cent during 1974. However he said the administration Quot would be prepared with measures to support the Economy if either the Oil shortage or the other factors seriously threatened to depress it below an orderly path to stability and Stein said the administration was Quot looking at what might be a More stimulative fiscal a hint of a deliberate budget deficit. He also said the administration was considering some measures to Spur specific sectors of the Economy such As a housing. He added that government policy will be directed at keeping unemployment Low. Some private economists have predicted a recession in 1974. Stein said that inflation will continue at a High rate in the first half of the new year but should level off to about 4 5 per cent in the second part of the year. At a yearned news briefing. Stein declined to forecast the rate of inflation during the first half of 1974. Although he said administration projections Are not far off private economic forecasts. Many private forecasts envision a rate of inflation of about 8 per cent next year. Meanwhile government Trade figures revealed the third consecutive monthly Trade surplus. However the november surplus was reduced by higher costs of imported Petroleum and other fuels. The november surplus of exports Over imports totalled $85.7 million which put the surplus for the first la months of the year at $765.9 million unless there is a Sharp setback in Trade in december the United states should finish 1973 disengagement principles set at peace talks by Marcus Eliason associated press writer Geneva Switzerland apr israeli and egyptian negotiators agreed today on some of the principles to govern separation of their armies along the Suez canal the United nations announced. A meeting lasting two hours and to minutes produced a consensus on some of the principles of disengagement a said the announcement. A there was a further Frank Exchange of views on other principles clarifications were sought by both sides regarding details of these the announcement gave no clue to the Points on which the israelis and egyptians agreed and those Over which they disagreed. The negotiators agreed to meet again on Jan 2. Two Days after the israeli elections. Some observers considered this a sign that the negotiators May have reached a major stage in their Parley. Maj. Gen. Mordechai cur of Israel and Brig. Taha Al mag Doob made no statement to newsmen As they entered the meeting room in the Palace of nations. The officers began negotiating wednesday to arrange a a a separation and disengagement of forces along the truce line established after the october War. The disengagement is called for by the cease fire pact Between Egypt and Israel which Secretary of state Henry a. Kislinger negotiated in Early november. Previous negotiations on the Suez front deadlocked in late november. The idea is to straighten the military lines and bolster the cease fire by pulling the opposing armies apart. On wednesday. Israelis chief of staff it. Gen David Elazar said no agreement could be reached before mid january or Early february. He did not explain the delay but observers assume his government is reluctant to take such decisions until after the dec. 31 election and the formation of a new government which could take weeks. Soviet sincerity at stake Kissinger Washington a Secretary of state Henry a. Kissinger says the soviet Union appears to be ready to contribute to stability in the Middle East after years of inflaming the arabs against the United states. At a news conference thursday he signalled . Willingness to work w Ith Moscow for peace in the Region and said that with Israel Egypt and Jordan a now talking from a common based there is a Good possibility of Progress toward a settlement Kissinger credited the soviets with contributing to a positive atmosphere at the Geneva peace conference. And he noted foreign minister Andrei a. Gromyko met with Abba Eban the israeli foreign minister. A so As of now judging the soviet Union by its actions we Are willing to cooperate. Should soviet behaviour change we can always reexamine our policy a Kissinger said. At the same time the Secre tary said the United states will make no Deal at the expense of traditional friends an obvious reference to Israel. He also said the United states would not impose a settlement made together with the soviet Union. Kissinger described the Middle East As a test of soviet intentions and of the . Policy of detente toward Moscow. A it is obvious that it is not possible for a country to exacerbate tensions in one area and to seek relaxation in another Quot he said. A therefore obviously we would have to judge the soviet sincerity in seeking across the Board relaxation of tensions by its behaviour in All the negotiations in which we Are engaged with it including that of the Middle in another area Europe Kissinger said the United states stands by its offer to work out a new relationship to common problems with its allies. Herbert Stein with its first Trade surplus in three years United states Trade with other countries has been sharply improved since two devaluations of the Dollar made goods cheaper overseas former Ama head enters guilty plea Winston Salem apr the former chairman of the american medical association and four other prominent North Carolina businessmen pleaded guilty today to two counts each in a Case involving misappropriation of funds of the old North state Bank of Burlington. They Are or John Robert Kernodle of Burlington the former Ama official Norman Graham Smith Houston p. Sharpe and Charles m. Mcmillan All of Burlington and Marshall Stewartjr. Of Raleigh. They entered their pleas this morning in . District court Here evidence was being heard Early this afternoon with sentencing expected later in the Day. The men face maximum sentences of five years in prison and a $5,000 Fine for each count. Kernodle who resigned his Ama Post this fall shortly after the indictments were handed Down said his successor or. James Sammons would speak on his behalf before the sentencing a in three indictments handed Down in september by a grand jury the five men and h Galloway Pollard of Burlington were charged with conspiracy and misusing almost $1.8 million from the North state Bank the Bank subsequently merged with the Bank of North Carolina Kernodle was the chairman of the Board of the Bank at the time of the misappropriation. Pollard and Sharpe Are also former Bank officials. The grand jury handed Down the indictments after hearing a presentation of the charges from Fri agent Thomas Brereton. Who investigated the Case for More than a year. The indictments contained a total of 173 counts against the men Kernodle was chafed with 30 counts Smith 55, Pollard 19. Stewart 19, Sharpe 25. And Mcmillan 25 the courtroom was full of spectators this morning As each of the men Rose to answer the formal questions put by judge Hiram Ward. The pleas were offered As part of an agreement with outgoing . Atty. William l Osteen. It was understood that the other charges would be dropped after sentencing. The agreement was reached a week ago according to Osteen. The first indictment charged Kernodle and Smith with one count of conspiring to obtain a unsound indirect Loans for see former on 2a

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