High Point Enterprise Newspaper Archives Oct 29 1974, Page 1

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High Point Enterprise (Newspaper) - October 29, 1974, High Point, North Carolina Weather scattered showers Mort data on Page 3a 90th year a no. 301 the High Point Enterprise Cau us circulation ms-171 High Point n. C., tuesday afternoon october 29, 1974 34 pages classified ads Mi-2177 other depts. Ms-wi1 daily 10c, sunday sic Ford says economic plan sound Washington api president Ford declared today that his present economic programs Are sound and should Deal with both inflation and recession a but added i will be open to suggestions if they Don t cure the current economic slump. Ford holding his first Impromptu news conference in the White House press Center was asked a on a Day when the Federal governments measure of leading economic indicators showed the sharpest one month plunge in 23 years a if he still insisted the country was not in a recession a whether it s a recession or not a recession Quot Ford said Quot we have he indicated he did not want to argue the semantics of the matter. The president s first questioner pointed to the plunge in leading indicators and asked if this and other economic data might prompt Ford to change the emphasis of his economic policies to fighting recession rather than focusing largely on inflation Ford responded that his economic blueprint unveiled earlier this month was a finely tuned Quot and was designed to a Deal with both those but he added that if new economic data came to Light that would indicate a steeper economic setback than anticipated a i will be open to the chief executive on other matters said a if voluntary efforts do not Cut Oil imports by one million barrels a Day he will a of course Quot move toward mandatory measures including a possible Iron Clad limit on imports a John c. Sawhill was removed by Ford As Federal Energy administrator. Ford said Quot i Admire Quot Sawhill and he will get another administration Job. The president made Clear that sawmills resignation was desired by Interior Secretary Rogers c. B. Morton. Whom the president named three weeks ago to coordinate the Federal government s Energy policies ��2��11 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 one on parole or not q. When a person is on parole does the parole officer have the right to put him Back in prison or does he have to wait for word from the Board of paroles in Raleigh mrs. H. A. The answer is yes and no according to the parole commission chairman when an inmate is granted parole he must agree to abide by certain conditions such As maintain regular work not drink to excess Etc. Of the parole officer determines that the parolee is not obeying hese conditions of parole he then requests the parole commission to Issue a warrant. The parolee then is taken into custody and Given a preliminary revocation hearing if at this hearing probable cause is found and the parolee wishes to Appeal to the parole commission a final revocation hearing is held in Raleigh. While the commission itself has final authority on revocation the parole officer must make the initial decision to seek revocation lowering the tracks cd. Please print in the paper where went ail the Earth they look out of the excavation for the Southern railroads lowered tracks in 1935. Five of us were living then and can t even Tell where they trucked the Earth. R. A and friends. A f. J. Blythe jr., whose Charlotte company was the prime contractor contacted the project Engineer w. J. Stribling. Now retired we Are indebted to or. Striding for providing the following Brief history of the project which began in 1936 and was completed in 1939. The project consisted of lowering the main tracks of the Southern railway company through the City of High Point and building Street level Bridges Over the lowered tracks and building a new freight Yard and freight depot. A fall work had to be done without interruption to railway train traffic and detours to Street traffic providing minimum inconvenience to the Public this required partial removal of the existing tracks grading Down to a new level installing a new Low level track with new drainage and new utilities. When railway traffic was established on the new single Low level track Bridges were built at Street level Over the Railroad tracks then additional grading and tracks were installed and stairs built to Street level. A approximately one million cubic Yards of Earth material was removed from cuts near the old railway passenger station and hauled to a Low area which was previously the site of tenant houses and is now the location of the Southern railway freight depot. Through the City the railway tracks were lowered about 35 feet below Street level. Ground water was encountered at about 25 feet Down and it was necessary to install a comprehensive underground drainage system before grading could be completed that system is still operating the nature of the soil was such that during construction two men were killed by slides and a Large water main was rup tured flooding the area. There were Many other difficulties and Many construction headaches but Alt problems were solved and the project completed on off since i was the first pacemaker in the High Point memorial Hospital i wonder if it be a Good idea to Start a pacemaker club and have All the people that have one to Call me and we can share our experience it Cetera. It might be beneficial in helping other heart patients and this is just a thought and i would like to take a part in it if it could be arranged. Thank you very much Bob Fink. 454-4304 vein partially closed Nixon has surgery condition is stable John Sawhill Sawhill removed from Post Washington a president Ford announced today a major shake up in the Federal Energy Hierarchy removing John Sawhill As administrator and replacing him with former asst. Commerce Secretary Andrew e. Gibson Ford made the disclosure during an Impromptu White House press conference he also announced that former air Force Secretary and Nasa official Robert Seamans would become head of the new Energy research and development Agency and that former astronaut Bill Anders would head the now nuclear regulatory Agency. Dixy Lee Ray now head of the atomic Energy commission will become assistant Secretary of state for International environmental and scientific matters. Ford said As the new appointees flanked him at the podium. The president made Clear that Sawhill a resignation was desired by Interior Secretary Rogers c b. Morton. Whom he named three weeks ago to coordinate the Federal government s Energy policies the president said there were no major policy differences Quot with Sawhill although there were perhaps a differences in approach and technique Quot he said he decided that Morton a a ought to have a right with my approval Quot to make changes in the ranks of Federal Energy officials and that Sawhill Quot will be offered a first class assignment elsewhere in hts administration. After making the announcements at the beginning of the news conference Ford said the shake up places a a new team in charge of the Energy program which we will see moving ahead under Rogers Morton a stewardship Quot referring to the appointees surrounding Hun at the podium. Ford called them Quot new faces. A Good group and told newsmen they la do a first class Job a a As the news conference ended the White House released an Exchange of letters Between Sawhill and Ford Sawhill a letter dated oct 25, said the goals he had set for himself and the Federal Energy administration when he took the Post several months ago a Are Complete Long Beach Calif. Apr former president Richard m Nixon s surgeon said today that Quot or. Nixon is doing Well Quot following an operation to Stop a blood clot in his left leg from travelling any further toward his heart or lungs or. Eldon Hickmann who performed the hour Long operation said Nixon a condition was a stable a a he said Nixon returned to his room on the top of memorial Hospital medical Center of Long Beach for recovery Nixon s personal physician had said the operation was required because the clots in Nixon a leg posed a threat to his life a with the threat the clot could become a pulmonary embolus we placed a mild clip. Partially occluding but not completely occluding the vein Quot Hickman said. He said the dip was permanent. He said the operation was uneventful and that the former president was Quot recovering in the Normal the doctor said he had the usual postoperative effects of being sleepy and was confined to bed. British nationalize industries London a Queen Elizabeth la announced today that the labor government plans to nationalize Britain s shipbuilding and aircraft industries and extend government ownership in other sectors of Industry the Queen $ speech from the throne opening the 4bth parliament also announced a series of measures to strengthen and overhaul the rusting welfare system. The speech written by members of prime minister Harold Wilson a government said a National Enterprise Board will be set up to extend government participation in private Industry and to nationalize the ailing shipbuilding and aircraft industries the Queen gave no timetable for the nationalization program. Wilson a government could hold on for a five year term unless the two vote majority in the House of commons which it won on oct. To is not Sui to cent to prevent tis defeat on a major Issue despite the threat of terrorist bombings and a blast monday night outside the Birmingham Home of sports minister dents Howell the Queen took the traditional slow ceremonial ride Down the mall from Buckingham Palace in a. Horse drawn Carriage. The operation began at 5 30 a in. Post. None of Nixon a family was present at the Hospital but officials said his wife. Pat was expected at the Hospital later in the Day. Hickman said Nixon will probably be hospitalized for a another week Quot then the re covery would take four to six weeks at Home. He said he did not anticipate any further surgery or. John c. Lungren Nix Nixon last appeared publicly As he left Hospital oct. 4 with him at far right is his wife and at right his daughter Tricia one Day without car each week requested san Francisco it a it employers throughout the City Start asking san Francisco a 500.000 commuters today to give up their cars one Day each week. The object save fuel by breaking the car commuting habit. Thirteen major corporations already have agreed to urge All their employees a from top executives Down to clerks a to use Public transit instead of private autos once a week. Mayor Joseph l. Alioto who announced the Carless Day plan monday urged employers to ask their workers to go along with the program he said could Cut fuel usage 20 per cent and reduce the dependence on Arab Oil. The Only realistic Way to beat the sheiks is to get out of our Alioto said san Francisco s streets Are fed by Only three commute arteries a the Golden Gate Bridge san Francisco Bay Bridge and Highway links to the san Francisco Peninsula on the South. Available mass transit includes the Bay area rapid transit system buses and trains the motto of Alioto s plan the great crash of 29 Stock Market today vastly different new York a Wall Street today Marks its gloomiest anniversary 45 years after the Stock Market began its Dizz Iest fall in history on get 28 29, 1929 hut even with numerous current troubles including inflation tight Money and a slumping Economy traders can take heart that the Bear Market of 1974 and the great crash of 1929 Are As different As night and Day Many analysts agree. For one thing speculators in the �?T20s had free Rem untouched by any sort of governmental regulation since 1933, the Federal Reserve and the securities and Exchange commission have acted to keep the Speculator in Bounds and usually have protected traders from outright Market fraud. The Market also enjoys a degree of stability now compared with 1929 just from sheer size there were about 15 million people in the Market in 1929 now there Are about 30 million of nothing else panic would have further to spread in 1974 another difference though less comforting is How fast and tar stocks fell in 1929 As against 1973-74. The crash of 29 was sudden almost totally unexpected and horribly severe. In Only two weeks from oct. 28 to nov. 13, the Dow Jones Industrial average shrank by 50 6 per cent to 198 69 on oct. 28, 1929, traders watched the a automated ticker struggle to keep up with a 12 million share turnover then unheard of. The Dow fell a still unsurpassed 38 33 Points. The next Day even worse in terms of the spreading panic and the volume figure a a staggering 16 million a the Dow Slid another 30 57 the Market crashed at a time when almost everyone was bullish it just came out of the Blue Quot recalls analyst Loc ten Hooper then of the firm of Frazier Jelke it co and now of Thomson a Mckinnon Auchin Doss Quot an awful lot of people were in the Market on very thin margin a maybe Only to or 20 per cent. When he Market started Drifting Down around labor Day it set off an Avalanche of margin Calls Quot Eldon Grimm of birr Wilson it co. Says. The Bear Market of 1973-74 also has fallen about 50 per cent. The Dow from a High of 1,061 on Jan. La 1973, has been As Low As 584, on oct. 4, 1974, the paper value of Lisle nose issues has gone in that period from $871.54 billion to about $450 billion now. The 50 per cent drop the Market has suffered since 1973 has taken almost two years. The great crash did the same thing in two weeks. And the autumn crash in 1929 was Only the beginning. In july 8. 1932, the value of big Hoard stocks had gone from a High of $87 billion set sept 3, 1929, to a depth of $15 6 billion. And the Dow which stood at 381.17 before the great crash Sank to 41 22 in 1932, that meant that in 1929, unlike now drops of 50 to 60 Points in an individual Stock were common. Issues Worth hundreds of dollars in the 1920�?Ts Bull Market were Worth pennies in 1932 is Quot once a week to win whip inflation now Quot its prime target is the suburban commuter. Monday would be Carless tor employees of Banks Stock brokerages and other financial institutions tuesday for the corporations wednesday for employees in City state and Federal government thursday for the City a two major utilities Pacific Telephone and Pacific Gas and electric co. And Friday for anyone not already covered the rotating no car Days would be coordinated with a program of staggered work hours in certain businesses to stretch out the Peak commuter periods and avoid overloading Public transportation. The plan was prompted by president Fords request to major cities to do something to Cut Auto usage and save fuel. Sylvia Porter chairman of the presidents citizen s action committee to fight inflation praised Alioto for the move a the people of san Francisco have a unique Opportunity to show the Way to other cities across the nation Quot she said in a wire to him. On s personal physician said he had consulted with Nixon a wife. Pat and daughters Julie and Tricia by Telephone monday night. Lungren was an observer at the surgery. Both Hickman and Lungren noted that Nixon will be prohibited from eating a regular diet initially and will be fed intravenously today. Lungren. Who had warned that bleeding might be a problem during surgery because of anti coagulation therapy said there was no excessive bleeding during the operation. Nixon was Given no extra doses of Vitamin k to prevent excessive bleeding during the surgery. Doctors said he would continue to receive heparin As he had before the operation to prevent further clotting. Lungren described the operation saying that a Metal clip was placed on the effected vein in the left Groin area a this will Cut off any clots of any magnitude. The clots of their own nature will eventually dissolve or you will develop new circulatory he said but he stressed that he anticipated no new problems for Nixon and said he would describe the operation As a Success. Hospital spokesman Norman r. Nager said More tests will be conducted pm Nixon to insure there Are no complications. Hickman was assisted by two other surgeons during Nixon s operation. They were not identified by the Hospital. There was also an Anes theologis a Nixon was under a general Anastesia a and nurses the decision to operate was made late monday after a medical team determined that tests showed a worsening blood clot condition from the phlebitis Nixon suffers in his leg. Nixon s youngest daughter Julie Nixon Eisenhower said surgeons at memorial Hospital medical Center had wanted to operate monday night but a the was too weak he a exhausted Quot Nixon who entered the Hospital reluctantly last wednesday for a second time since he resigned As president aug. 9, agreed to undergo the surgery recommended by his own physician and consultants economic indicators plunge Washington a the governments Index of future trends in the Economy plunged last month at the steepest rate in 23 years the government reported today. The Commerce department said its Index of leading indicators dropped 2 5 per cent in september. It was the second sizeable monthly drop in a Row. Making the two month fall 4 1 per cent. Since inflation tends to make the Index appear Overly optimistic the indication apparently is for a serious deterioration in the Economy in the months ahead. Such a deterioration would be in line with the recent projection of a Sharp but Short recession by economist Paul Mccracken administration officials have also said they. ,. I expect Little evidence of a what $ inside i recovery until next Spring. Amusements12b the latest projection from bridge12b the Index of leading in classified ads ____6 i i dictators. Which is composed comics8a of a dozen separate economic crossword12b fluctuations was for sharply editorials. 4a higher unemployment financial. 2a decreased spending on obituaries 2b durable goods lower returns sports. .3-5b for raw material producer television. 5b and an even slower activity. Women s news. ,$-7a in the already depressed weather. A construction Industry

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