The Daily Banner, Greencastle, Putnam County, 21 March 1968 — Page 3

Thursday, March 21.1968

The Daily Banner, Greencastle, Indiana

LBJ wants $500 million

Page 3

A Galaxy of Merryment

WASHINGTON (UPI)—President Johnson, repeating his call for a tax increase, asked Congress Wednesday to earmark $500 million to help increase U.S. exports and strengthen the U.S. dollar. The President’s request to the House and Senate came as Senate Democratic leader Mike Mansfield promised that Johnson would “cooperate” with Congress in cutting spending as its price for approving his

requested 10 per cent income tax surcharge. Johnson asked that Congress allocate $500 million of the Export. Import bank’s existing $13.5 billion authority as a special fund to help finance a broad program for selling U.S. goods overseas. The money would be used to assist U.S. firms who now sell only within the United States to expand their markets to foreign countries, and supply export

financing to make U.S. firms more competitive with foreign exporters. Johnson, whose plan is aimed at reducing the balance of payments deficit, also asked for prompt approval of the $2.4 million appropriation he submitted March 1 to enable the commerce department “to launch a five-year program to promote American exports.” Mansfield said Johnson would cooperate with congressional

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demands that spending be reduced before taxes are increased, but avoided confirming reports that the President was ready to recommend cutting $10 billion from his fiscal 1969 appropriation requests. Other sources, however, said this was discussed when Johnson met with Democratic congressional leaders at the White House Tuesday night. “I do know the President is very anxious for his 10 per cent surtax,” Mansfield told newsmen. “He would like to see Congress take the initiative and reduce whatever appropriations and expenditures it thinks advisable and in the amounts it thinks advisable. The President will cooperate. The amount would be left to Congress.” In his letter Wednesday, Johnson called the proposed tax increase “the anti-inflation tax — the most critical measure of all. This tax—one penny on every dollar earned— is the best investment Americans can make for fiscal responsibility at home and for a strong economic position abroad.”

DPU girls lead male students For the 24th consecutive year females at DePauw University have outsmarted their male counterparts. The university’s neuter computer showed today that the coeds’ Leap Year performance once again left the men in the academic dust. Statistics for the first semester showed that the school’s 1,200 women earned a combined average of 2.78, slightly under the all-time mark of 2.79 set last year. The all-university average produced a 2.68 mark. The alluniversity record of 2.69 was set two years ago. DePauw is on a 4.0 (A) system. Grades for individual fraternities, computed independently by the Inter-fraternity Council, showed Phi Kappa Psi at the top of the list with a 2.84 house average. The next four listed were Lambda Chi Alpha (2.71), Alpha Tau Omega (2.67), Sigma Chi (2.666), and Phi Gamma Delta (2.663). Sorority averages are not computed for publication. Astronaut training A DePauw University professor whose son is in astronaut training will be among 22 persons from the university visiting Cape Kennedy March 21-23. The group of 19 Air Force ROTC cadets and three faculty staff members leaves via C-130 Thursday morning, arriving at Patrick Air Force Base Thursday afternoon. Among the faculty members will be economics Professor J. P. Allen. His son, Dr. Joseph Allen, last summer was one of 11 civilian scientists selected for astronaut training by NASA. The three-day tour arranged by the Air Force and NASA WILL INCLUDE INSPECTION OF man and Titan 11 launching sites, the Range Control Center, NASA facilities and the Space Museum. Members of the group flying to the Cape are Cadets Bill Alexander, Greg Boyer, Neil Budelsky, Robert Diehl, Philip Burroughs, Van Goodin, Joseph Haythorn, John Hill, Alan Hux, John Meyer 111, Robert Moore, Raymond Owens 111, Jim Putnam, Bill Scaife, Paul Stanley, Ralph Swank, Jr., Paul Tatham, Vernon Zink and Richard Benson. Faculty-staff members making the trip in addition to Allen include Patrick Aikman, news bureau director, and Major Elton Weston, assistant professor of aerospace studies. Color Accent NEW YORK (UPI) — The newest entry to educational “play” — foreign language coloring books. The children can color in French. Spanish, German and Hebrew. Insects vs. Insects FILLMORE, Calif. (UPI) — Millions of tiny insects, some no larger than the period at the end of this paragraph, are being raised by three groups of citrus growers in this Southern California farming town to dc. a job worth more than a million dollars a year. The job of the purposelygrown insects is to kill other insects which infest citrus groves. Different species of insects are raised in insectaries or “bug factories” and then released to follow their natural instincts and knock off their unwanted cousins. The killer insects are foreigners to these shores and were imported from such places as South Africa. Australia, India and Pakistan.

# •

Stock market trading is dull for second session

NEW YORK (UPI)—Stock prices drifted lower in dull trading Wednesday for the second consecutive session after a modest mid-session rally failed to attract support. The United Press International stock market indicator lost 0.31 per cent to 106.75 and the New York Stock Exchange index reflected a dip of 4 cents in the price of an average common share. The Dow Jones industrial average finished off 2.14 at 830.85 but the rail component continued to buck the trend, adding 0.56 to 219.90. Of the 1,462 issues crossing the tape, 720 declined, 481 advanced and 261 remained unchanged; 38 issues reached new 1967-68 lows and 10 climbed to highs. Volume melted to 7,390,000 shares from the lackluster 7,410,000 shares which changed hands Tuesday. It was the slowest full session since the end of last August.

International Minerals and Chemical was the most actively traded stock, holding unchanged at 20 5 /8 on sales of 186,100 shares, including a block of 156,000 at 20 1 /4 . Peabody Coal closed in second place, jumping l 7 /8 to 45%. It traded 159,100 shares, including a block of 31,700 shares at 45V2 . Kennecott Copper said it would complete its purchase of Peabody by the end of the month. Kennecott dipped Vs. Occidental Petroleum moved into third place, losing % to 35 on volume of 123,700 shares. Steels moved in a narrow range. Cerro Corp. fell 3% after Bethlehem Steel cancelled their merger plans because of Justice Department opposition. Bethlehem added Vs. Motors and chemicals tended fractions lower. Pennzoil rose IV4 in the oils but Superior eased 1%. Shell oil also improved.

Circusdom’s hilarious ambassadors of merryment will be on hand when the giant Murat Shrine Circus pitches its big top in the vast State Fairground’s Coliseum in Indianapolis, April 24 thru April 28. The 23rd annual affair will feature 50 thrilling and spectacular acts, over 200 performers and animals galore. The huge 5 ring extravaganza is the largest circus in the world. Many of the acts are appearing for the first time in the United States. A total of 12 performances have been scheduled during the 5 day period, with an expected throng of more than 120,000, making the Murat Shrine Circus the greatest entertainment attraction of its type in Central Indiana each year. Box office sales will open April 8th. Map contract goals

By RICHARD F. FONTANA ATLANCIT CITY, N.J. (UPI) — The United Steelworkers Union (USW), financially fighting fit, mapped contract goals today for negotiations that begin with the steel and aluminum industries next month. A special convention of the USW tapped its 1.2 million members for a $25 million strike fund assessment Wednesday and raised dues in a long, noisy, and often bitter debate. The proposals were the major items in a 17-point amendment to the union constitution. The assessment will be $5 per man per month from April through August to start the strike fund effective Sept. 1. Dues will be changed from $5 a month to the equivalent of two hours salary per month with a $5 to $10 range. Today, an estimated 700 representatives to the unions basic steel industry conference and aluminum industry confer, ence met to draw up final demands to be made in contract negotiations.

The USW represents 480,000 workers in basic steel. Their contract expires Aug. 1. There are 35,000 USW members in aluminum. That pact terminates in June. Wage increases and a guaranteed annual income are expect, ed to be two of the major items. The convention, attended by 3,689 delegates from the union’s 3,300 locals, got off to a noisy start and ended the same way. Union President I.W. Abel gaveled down a half dozen speakers for overzealous and occasionally intemperate remarks. The delegates themselves hooted a number of speakers, all opponents to the dues and strike fund proposals. The dissenters, a small minority, were led by Donald Rarick of Irwin, Pa., a candidate for union president in next February’s election. Abel told the convention passage of the proposals was vital to the union’s survival. Secretary Treasurer Walter Burke said the USW had operated at a net loss of $6 million since last July.

EXECUTOR'S SALE OF REAL ESTATE DR FREDERICK WRIGHT ESTATE TRACT No. 1: Part of the E«i of SW \\ of Section 11 Twp. 13 North, Range 2 West—North of 1-70. 21.66 ACRES. TR \CT No. 2: Part of the EMs of SWV4 of Section 11, Twp. 13 North, Range 8 West—South of I-79. 49.42 ACRES. TRACT No. 3: SEU of NE’i; SW 1 * of NEVU W 1 ! SE>4 of NE'4, in Section 22, Township 13 North. Range 2 West. Total of Kin ACRES. In Adams Township in the Little Point and Crown Center area, Morgan County. Indiana. The Farmers Stale Bank. Eminnece, Indiana, as executor, will receive and accept written bids for the purchase of the above real estate until MARCH 23,1968, at 2:00 P.M. at which time, providing a satisfactory bid is received, this propertv will be sold to the highest and best bidder. Bids will be limited to those who have submitted written bids and those submittinb such bids will be allowed to raise said bids at time of sale in multiples of $100.00 each until each particulary tract is sold. TERMS: The read estate will be sold for cash, subject to the approval of the Hendricks County Superior Court with a down payment by the successful bidder of five (5) per cent of the sales price payable at the date of sale with balanc of purchase price to be paid in full upon delivery of title Insurance policy to guarantee ttiel in said Executor, subject to taxes for the year 1968. payable in 1969. Executor reserves the right to refuse any and all bids. FOR INFORMATION CALL: John Swift, The Farmers State Bank, Eminence, Indiana, 528-2205 John Kendall, Law Office, Danville, Indiana, 745-4408. Sam Blue, Law Office, Martinsville, Indiana, 342-3318 or 831-0477.

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