The Daily Banner, Greencastle, Putnam County, 27 September 1967 — Page 6

Pag* 6

Th* Daily Bannar, Graeneastla, Indiana

Wednesday, September 27, 1967

/ V lONTGOMEBY WARD

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No Payment Till Feb.'68 Committee proposes loans

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18 S. Indiana Open Mon., Tues., Wed., Thurs. & Sat. 9*5, Fri. 9-8:30

construction

INDIANAPOLIS UPI — A proposal that unused state money now deposited in banks at low interest rates be loaned to school corporations for construction emerged from the first meeting of the Indiana School Finance Study Committee Tuesday. The suggestion came from state school Supt. Richard Wells who appointed the committee composed of representatives from nearly all organizations concerned with school financing. No agreement was reached nor is complete agreement expected, Wells said. He said he would be happy with a majority vote on any proposal the committee may adopt on recommendations to the 1969 Legislature. Wells said he believes the switch of state funds investment “may make the banks unhappy but the kids will be happy.” Robert Wyatt, executive secretary of the Indiana State Teachers Association, said he believes the present formula for equalizing educational costs throughout the state is sound “but doesn’t go far enough.” He said the formula whose aim he described as “to shoot the honey around where the

kids are” has been somewhat ( He suggested “the typical cutive secretary of the Indiana bypassed by appropriations set voter doesn’t know about Taxpayers Association, said out in the formula. school finances—he is more in- “the average voter is interested Wells said the percentage of terested in Vietnam, Lynda in the fact taxes go up.”

money appropriated by recent Bird’s wedding and the price of

legislatures outside the formu- milk.”

la is growing. . However, Walter Horn, exe-

Horn said he felt there should be an overall limit on property taxes.

Phone OL 3-5191

MISERY—Sitting atop an AMTRAC during an operation at Cua Viet, South Vietnam, near the demilitarized zone, a U.S. Marine shields himself from monsoon rains with a blanket

Asks extension of protection

WASHINGTON UPI — The authorizaton for the Secret Service to protect Mrs. John F. Kennedy is about to expire, and Treasury Secretary Henry Fowler asked Congress Tuesday to extend it 15 months. Fowler said that because Mrs. Kennedy and her children still are widely publicized “they are sought out and subjected to annoyance by the idly curious” and also remain possible targets for the mentally deranged. He noted that temporary authority for the Secret Service to protect them expires on Nov.

23, fourth anniversary of the

assassination of the late Presi-1 lion in new special funds for

LBJ wants $200 million for Asian development WASHINGTON UPI —Pres-1 such Asian projects as schools ident Johnson asked Congress and roads which do not yield Tuesday to authorize a U.S. immediate financial returns, contribution of up to $200 mil-j U.S. participation In the

dent. Fowler suggested that the Asian Development Bank,

Congress extend it to March 1, 1969, for possible further review

at that time.

over a four-year period.

The bank now has subscriptions of $1 billion from 31 na-

Cost of the protection service tions in so _ called ordinary cap i. for Mrs. Kennedy and her chil- i ta , whlch la used for Asian de . dren, Caroline and John, was vel nt jects vvith a rela . not stated but Fowler noted ti and direct return

that the protection afforded her had been limited, at her request. He said the cost is less than that of the security provided, under permanent law, for former Presidents Eisenhower

and Truman.

Asian Development Bank, proposed by President Johnson in 1965, was authorized by Congress in the spring of 1966. The bill provided $100 million In U.S. funds, to be spread over five years, and allowed U.S. loans of another $100 million. Johnson said the authorization for special funds was a desirable step away from bilater-

The special funds, the Presi- al foreign aid programs and todent explained in a message to ward multilateral, cooperative the House and Senate, are need-' efforts in which wealthier naed for longer-term loans at tions of the world would Join In lower Interest rates to finance [ helping developing countries.

on investment.

mfm 18 S. Indiana

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