Banner Graphic, Volume 10, Number 115, Greencastle, Putnam County, 18 January 1980 — Page 2
A2
The Putnam County Banner Graphic, January 18,1980
Even sentiment can have its price
Gold rush has Americans sifting through valuables
WASHINGTON (AP) Granddad’s broken gold pocketwatch and great Aunt Tilly’s gold jewelry may not look like a rainbow. But dust . them off anyway There may be a pot of cash at t he bot tom of your jewel box As the price of gold broke SBOO Thursday and i' an ounce of silver exceeded S4B, Americans all over the country were sifting through their valubles. weighing sentimental value against the soaring price of precious metals. Many are finding that even sentiment has its price: They’re cashing in old coins, gold watches, silverware, candlesticks, silver bowls and almost anything else that shines. Washington jewelry store owner Jim Rosenheim paid SBOO for a small gold box and SIOO for a gaudy silver plate with “Northeastern University” engraved on the rim In Cincinnati, coin store owner Randy Sandler paid SI,BOO for three silver bowls. At the Coin Pocket stores in Denver, salesman Kenny Mclntyre said a three-tooth . gold bridge with gold fillings brings sl6 while I silver dimes, dated 1964 or before, get $1.45 or . more. “A lot of w'hat we’re buying is stuff people didn’t think was valuable broken bracelets, . old bridge work and other things they had hid- ' den away because they didn’t know what to do with them." Mclntyre said. Even crusty old gold fillings are considered an investment. "See this little bag?” said jewelry store owner Jac King, holding up a small Manila envelope filled with gold fillings he bought from a dentist. “It’s worth S6OO, S7OO, and the guy just had it hanging around his office. “Last October, a guy dressed like a bum - came in with his gold bridgework. I got a hammer. banged out the teeth and gave him $100." Other people are more willing to bargain. As King talked, a gray-haired woman
Banner-Graphic "It Waves For All" (USPSI42-020) Consolidation of The Daily Banner Established 1850 The Herald The Daily Graphic Established 1883 Telephone 653-5151 Published twice each day except Sundays and Holidays by LuMar Newspapers, Inc. at 100 North Jackson St., Greencastle, Indiana 46i35. Entered in the Post Office at Greencastle, Indiana, as 2nd class mail matter under Act of March 7,1878. Subscription Rates Per Week, by carrier $.85 Per Month, by motor route $3.70 Mail Subscription Rates R.R. in Rest of Rest of Putnam Co. Indiana U.S.A. 3 Months $10.25 $11.25 $13.75 6 Months 20.25 22.50 27.25 1 Year 40.25 44.00 54.45 Mail subscriptions payable in advance . . . not accepted in town and where motor route service is available. Member of the Associated Press The Associated Press is entitled exclusively to the use for republication of all the local news printed in this newspaper.
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APPETIZERS & SOUPS ONION SOUP (Topped With Luscious Melted Cheese) MUSHROOMS (Fried or Sauteed) BOILED SHRIMP (By The Dozen) FRENCH FRIES
MAIN STREET SPECIALTIES MOUTH WATERING BOILED OR FRENCH STEAKS FRIED SHRIMP (Broiled Over Charcoal) (Gulf Coast Elegance) SANDWICHES Tenderloins, Roast Burgers, Ham, Turkey, Cheese, Club and Steak (on French bread or toasted bun with chips and condiments) THE ANNEX AT OLD TOPPER TAVERN 717-727 S. MAIN ST. PATTI AND TONY HARMLESS, PROPRIETORS
world
S4OO million in aid ridiculed as 'peanuts'
By The Associated Press Pakistan’s president derided the reported U.S. offer of S4OO million in aid as “peanuts.” Meanwhile, American reporters were leaving Afghanistan today, and regulars were reported replacing reservists in the Soviet occupation army. “That is peanuts,” President Mohammed Zia ul-Haq told American reporters in Rawalpindi Thursday when asked his opinion of President Carter’s reported offer of S2OO million in military equipment and S2OO million in economic aid over the next two years to offset the
TRY SOMETHING SPECIAL AT THE ANNEX
carrying a plastic shopping bag entered his store, located in Washingon’s fashionable Georgetown section. She produced a gold charm bracelet and a gold watch. "At my age, near retirement, these things are less important to me,” said Lucille Hawkins, a secretary who works for the Veterans Administration "It’s time to get rid of these things. And with inflation. I need the money." King weighed the jewelry and offered her S9O for the watchband and S2OO for the bracelet. Miss Haw'kins refused to sell. King offered $.175 for the bracelet. Again Miss Hawkins refused. “I’ll bet I can get more for them at a not heist ore,” she said and walked out. Across town, Mary Jenkins, a 50-year-old housekeeper, walked into a posh shop specializing in old coins and opened a blue scarf filled with silver coins with a face value of $36.50. The owner ottered her $513 for the coins, almost pure silver because they were minted before 1964. Mrs. Jenkins didn’t sell. “I’ll sell them when I can get $1,500 to $2,000,” said Mrs. Hawkins, who has eight children. “They were my father’s coins, and I hate to part with them. But I’d like the money to help further my children’s education.” Nancy Jordan, a gold specialist for Southeast Banking Corp. in said there is no logic to the wild selling and that has her worried. “There’s just no sense to it,” she said. “These people are running scared. But I’m scared, too. I just know that when it comes down, and it will, a lot of people are going to sell and (theprice) will fall mighty fast.” Harry Finn, president of a Boston gold and silver jewelry business called E.B. Horn, said that in his 35 years with the company, he’s never seen anything like it “The big item is silver flatware,” Finn said.
Soviet intervention in Afghanistan. “If this is true I have not heard it officially this is terribly disappointing,” Zia continued. “Pakistan will not buy its security with S4OO million. (That sum) will buy far greater animosity from the Soviet Union, which is now more influential in this region than the United States.” He refused to say how much aid would satisfy him. But he said he needs warplanes, antiaircraft missiles, anti-tank weapons and communications systems to strengthen defenses
GREENS OLD TOPPER SALADS (With Luscious Homemade Dressings) AMBROSIA CARROT CAKE & FUDGE PIE (Sinfully Rich, But Too Good To Miss)
Sacrificed
Shah blames oil companies for his downfall
NEW YORK (AP) - The deposed Shah of Iran says he has not renounced his claim to Iran’s Peacock Throne and that the greed of U S. oil companies brought about his downfall one year ago. “Abdicating in the vocabulary of a king does not exist unless it’s very, very special circumstances,” Shah Mohammad Reza Pahlavi said Thursday in a televised interview with British journalist David Frost. “Does a king have to agree...to abdicate?” Frast asked “Yes. Unless he is decapitated,” replied the 60-year-old shah, who is under a death sentence from a revolutionary court in Iran
Longshoremen asked to abandon Soviet boycott
WASHINGTON (AP) - President Carter is urging longshoremen to abandon their boycott and load 3 million tons of grain destined for the Soviet Union to relieve a backlog he says is clogging the nation’s transportation system The action is calculated not to help the Soviets, but to relieve pressure on American farmers. The administration continues to press forward on other fronts for punitive measures against the Soviet Union in reprisal for that country’s military intervention in Afghanistan. A high administration official said Thursday, for example, that the United States and its European allies may try to have the Moscow Olympic Games postponed, shifted or broken into parts in retaliation for the Soviet action.
along Pakistan’s 1,200-mile western border with Afghanistan. Zia also urged upgrading the 1959 U.S.-Pakistan agreement which calls for consultations in case of attack from a commu-nist-ruled country. In Washington, Pentagon sources said Thursday the Soviet command is starting to send regular army soldiers into Afghanistan to replace reservists who made up a significant part of the intervention force. They said the regulars were being brought in from Eu-
Hijacked plane heads for Iran
BEIRUT, Lebanon (AP) A lijacker today commandeered i Lebanese jetliner carrying 72 nassengers on a flight to Cyprus md ordered it to turn around md head for Iran, Beirut airoort officials reported. The Midlie East Airlines plane first was naking a refueling stop in Beirut.
THE GOLD RUSH IS ON Now buying any scrap gold or silver. Bring in what you have for a FREE PRICE QUOTE. MASON'S DORTHEA HAROLD STEVE Fine jewelry A--18 West Washington M (.rrem astir Phono b"> 1 ">{) 1 1
Kl; s'* ■gig IMo abdication The hour long interview on the ABC’ newsmagazine “20-20” was the shah’s most extensive public statement since he left
The top two officials of the U S Olympic Committee were scheduled to meet at the White House later today with Carter aides. The grain the president wants loaded is not part of the 17 million metric tons Carter has ordered embargoed from the Soviet Union, but is a portion of some 8 million tons the Soviets are to be shipped under previous agreements. Thomas Gleason, president of the International Longshoremen’s Association, said Thursday he would check with his * union and report back to the president. He did not promise that the 80,000 ILA members would end their nine-day refusal to load grain on ships bound for the Soviet Union. An administration official.
ropean Russia and elsewhere to replace the reservists, who were on 90-day duty and came from Central Asian republics near Afghanistan. The Pentagon now estimates the Soviet occupation force at 72,000 men, but other estimates run as high as 100,000. The Pentagon sources said the regulars were being brought in to offset desertions from the Afghan army in the northeast part of the country, where Afghan regulars were reported defecting to the Moslem guerrillas in significant numbers. They said the Afghan army is
The hijacker, who claimed to nave a hand grenade, was demanding to know the whereabouts of a missing Shiite Moslem leader from Beirut, said Voice of Lebanon, the radio of the rightist Lebanese Phalangist Party. The clergyman, Imam Musa Sadr, disappeared mysteriously
Iran for exile one year ago Wednesday. He charged his regime had been sacrificed by profit-hun-gry American oil companies and rejected as “preposterous” claims by the regime of Ayatollah Ruhollah Khomeini that he was responsible for the massacre of tens of thousands of Iranians during his reign. He labeled the United Nations, which has been proposed as a forum for airing grievances against his monarchy, “impotent” except in its dealings with “defenseless individuals. ” ABU paid Frost an undisclosed sum for the interview, part of a 10 hour conversation Frost had with the shah last week at the shah’s refuge on an
who declined to be named, said Thursday that Carter, “speaking as president and command-er-in-chief,” said “that the abrupt stoppage of all grain shipments was contrary to our national interests, that it was clogging the pipeline, interfering with normal commerce and was unfair to the farmer.” Administration officials said the ILA boycott, affecting ports on the East and Gulf coasts, has resulted in barges, railroad cars and grain elevators being chock-full. On the Olympic question, a ranking administration official declared that detente with the Soviets is “wounded and bleeding,” and said Deputy Secretary of State Warren Christopher found “an increasing tide of opinion” against holding the summer Games in Moscow
down to about half its former estimated strength of 100,000 men. They also said the rebels had captured large amounts of arms, ammunition and military equipment, but there was no evidence they had received arms from outside Afghanistan. The 50 or 60 American journalists in the Afghan capital of Kabul packed their bags at the Intercontinental Hotel after the new communist government accused them of biased reporting and “interference in the country’s internal affairs” and ordered them to leave Afghanistan today.
more than a year ago on a trip to Libya. It was unclear why the hijacker wanted to go to Tehran. Sadr, an Iranian, was considered a potential rival to the religious leadership of Ayatollah Ruhollah Khomeini. The rightist radio identified the hijacker as Fuad Hamade, a Shiite Moslem
island off Panama. ABC said the shah was not paid. Frost said the shah conceded “errors of his own making” encouraged his overthrow, but that the conversation with the ailing monarch had a “continuing theme of either betrayal 0r... conspiracy.” Two years before the revolution, the shah said, “we heard from two different sources connected with the oil companies that the regime within Iran will change... “...If just in imagination, we believed that there was a plan that there must be less oil offered to the world market in order to make the price of oil go up. one country should have
Arc of instability Military options for the United States
WASHINGTON (AP) The Soviet move into Afghanistan raises worries about possible bold new Russian military adventures in a vital region where U.S. alliances have crumbled and local defense forces are weak. Months ago, several of President Carter’s advisers, notably Zbigniew Brzezinski, started talking about a need to prepare for possible Soviet adventurism in the 1980 s when, for a time, the Russians will enjoy an edge over the United States in strategic nuclear power. That view provided the impetus for Carter’s $lO-billion plan to equip a “rapid deployment” military force of Marines and soldiers for movement into the Persian Gulf or other world troublespots. But the transport planes and depot ships essential to such a force will not be ready at least for several years, assuming Congress votes the required funds. Meanwhile, geography works against the United States in trying to safeguard U.S. interests in the Persian Gulf-Ara-bian Sea region. The area lies about 12,000 miles from the U.S. East Coast. In contrast, geography is on the side of the Russians Afghanistan is next door to the Soviet Union, as is Iran. Supply and reinforcement of Russian forces occupying Afghanistan present no serious logistal problems, certainly ; nothing comparable to the difficulties that will be faced by ; the United States in landing and supporting a major military force sent from the United States to the Middle .East. In occupying Afghanistan, Soviet troops are in position to threaten Pakistan. With a major base in Pakistan, U.S. strategists say, the Russian navy would be able to clamp a grip on the West’s jugular, the oil tanker routes leading to and from the Persian Gulf. Thus, Pakistan now finds itself in a vice between its traditional rival in Afghanistan. President Carter has indicated the United States will offer Pakistan the sort of military aid which was recently denied them, but Pakistan may not be prepared to resume a close relationship with this country. Instead, U.S. officials believe the Pakistanis may forge a close cooperation with China, which supplied Pakistan with arms while India got support from the Soviet Union. India, in the American view, remains the dominant country in the whole region and the experts believe that New Delhi is concerned about heavy-handed Soviet moves such as the Afghan invasion, but will not join in any international moves to censure the Soviets. Even without intervention in Pakistan or a closer alliance with India, the Soviet Navy already has access to bases in South Yemen and Ethiopia, from which it could choke off oil shipments through the Red Sea and the Gulf of Aden. Soon after the Soviet intervention, a team of Pentagon officials was dispatched to speak with authorities in Oman, Somalia and Kenya to determine whether American military units might be allowed to use their bases more than for occassional rest stops and port calls, as now. Prospects look good, U.S. officials say. And last week, the Carter administration moved to build up Naval capability on Diego Gracia while it was disclosed that the U.S. and Egyptian air forces conducted joint exercises recently to test the capability of U.S. warplanes to deploy out of Egyptian airfields It adds up to quick effort to expand U.S. defense capabilities in the Middle East. For decades, U.S. strategic planning for the Persian Gulf area centered on an assurance that Iran and its Americanequipped forces would be a reliable bulwark in containing Russian aspirations. However, this strategy had to be scrapped last winter after the Iranian revolution. The focus of U.S. planning then shifted to Saudi Arabia, one of the wealthiest and most conservative of the oil-producing countries in the Persian Gulf and an ally of the United States. The Saudis have bought more than $25 billion in American arms and U.S. technicians are helping train Saudi forces into first-class fighting units. Still, the Saudis shy away from allowing any permanent U.S. forces to be established within their borders. Iraq, which considers itself a national socialist republic, rates the strongest military force in the Persian Gulf region. In the past, Iraq has closely associated with Russia, but in recent years the Iraqis have disengaged from the Soviets as much as possible, using their rising oil income to buy military equipment from the French and other Western countries. Iraq and Saudi Arabia have lived uneasily side by side without fundamental ideological differences escalating into warfare. However, Saudi officials remain nervous that the much bigger and well-equiped Iraqi army of about 200,000 men might some day move toward the rich Saudi Arabia oilfields, and Iraqi border skirmishes with Iran frequently threaten to erupt. NEXT: Part IV "Economic Perils"
been the one chosen for this - sacrifice ” Iran was producing 5.6 itiillion barrels per day. the shahsaid, but in the final year before his ouster, the consortium of oil - companies that bought Iranian' oil did not seriously "talk about ’ placing an order to buy our oil. 1 so it seems that chosen country to drop its production of oil " would have been mine.” The shah did not name the two companies, but said they'.,, were both American. Iran’s consortium included Gulf Oil, Mobil. Exxon, Standard Oil California and Texaco “I’m flabbergasted.” said" Nancy Arvay. spokeswoman-fbi* Socal. “Certainly there was ho* conspiracy