2
Wednesday. February 12, 1975
University Daily Kansan
Alert force reduced
WASHINGTON - Secretary of Defense R. Schlesinger said Tuesday that he was reducing the number of U.S. strategic bombers held by full-time alert because of the unlikelihood of a surprise nuclear attack on the Soviet Union. Schlesinger said 39 per cent instead of 40 per cent the American fleet of 415 B52 bombers would remain of no interest, so that the time any enemy missiles could hit Strategic Air Command bases.
Schlesinger said. Soviet surprise attack "out of the blue" was "quite unlikely under the current circumstances." Schlesinger emphasized that the Soviets continue to go ahead full speed with the development of intercontinental missiles. He said another reason for the cutback in BS2s on alert is the increase in the U.S. force of strategic missiles. There was no immediate estimate of cost savings.
Malaqasy president shot
TANANARIVE, Malagasy Republic—President Richard Ratsimandrava was shot by assassins Tuesday and the state radio said he died of his wounds later. He been Malagasy's head of state only six days. Malagasy is an island 240 miles southeast of the African coast. Reports said Ratsimandrava was shot as he was being driven from the presidential offices to his private residence. Commanders of the armed forces declared martial law after the attack and placed the entire nation under curfew.
U.S. to aid railroad
PHIADLA-PHIA. The bankrupt Penn Central railroad abruptly canceled Tuesday's plans to hail all its trains after it was promised swift government help to meet an end-of-the-month payroll. Penn Central said in a statement that the bank had been "because of the pleas of congressmen, railroad union leaders, and shippers."
Penn Central said it needed $14 million to meet a Feb. 25 payroll. Last week, Penn Central startled the House Committee by announcing it would refuse to accept new freight shipments next Tuesday and summoned altogether Feb. 25—a threat one congressman called "blackmail."
Oil testimony continues
TRENTON, M.J.-An Environmental Protection Agency (EPA) of fiscal recommended Tuesday that oil companies explore offshore areas for oil and gas under contract for the federal government without leaves entailing them to proceed with development. That recommendation was made by Gerald M. Hansler, EPA regional administrator for New York and New Jersey, in public hearings on offshore leasing.
Hansler spoke after other witnesses disagreed and said they were angry with the Interior Department's rush to open new offshore areas for petroleum development. Gov. Brendan T. Byrne of New Jersey, the first witness, told department officials he would file a court challenge to the Interior Department's invitation for nominations of specific areas to be leased off New Jersey, Delaware, Maryland and Virginia.
Small loss on market
NEW YORK—The stock market, hit by an early loss, scratched its way back to nearly every Tuesday in another relatively quiet session. The Dow Jones average of 30 industries, down by six points at its low point after the opening, finished with a negligible .79 loss at 707.60. Analysts attributed most of the early sale to concern that the sharp downtrend of late interest rates might be near an end.
But investors got some reassurance on that score at mid-morning when the Federal Reserve's operations in the short term money markets seemed to show that it was continuing to encourage a decline in rate-although perhaps at a slower rate now than recently.
WASHINGTON (AP)—A top Treasury Department official said Tuesday that foreign investment in the United States had slowed down and lending to other nations had increased as a result of lower U.S. interest rates.
Interest rates dissuade investment
Treasury Undersecretary Jack Bennett said the lower interest rates had also led to a drop in the value of the U.S. dollar on world money markets since September. However, he said, the over-all value of the dollar has remained strong.
"The main reason for the change since September is the decline in interest rates. Banks are becoming more aggressive."
"There had been a pickup in foreign
between the slowdown in foreign invest-
ment here."
But Bennett argued for maintaining present government policies that are contributing to the reduction of inflection rate meant a stronger dollar in the long run.
The value of the dollar this week was about 17.2 per cent below the trade-weighted value of the currencies of the nation's major trading partners in the Organization for Economic Cooperation and Development (OECD), as compared with its value in May 1970. The lower value included the two official dollar devaluations of 1971 and 1973.
But last September, the dollar was only 13.8 per cent less than the OECD currencies. The dollar was at its low point in June 1973 at 16.9 per cent below the other currencies.
A decline in the value of the dollar compared to other currencies means the cost of goods that the United States imports increases, while the price of U.S. exports decreases.
When interest rates decline, investors often can get a better return on their money by investing in other countries where interest rates are higher.
Some of the oil-producing nations, especially Kuwait, have expressed concern that the lower value of the dollar meant oil receipts would buy less, since they currently are selling oil at a relatively fixed dollar price.
Bennett said he svympathized with these
First woman to head British party
LONDON (AP) - Margaret Thatcher, a grocer's daughter with the reputation of a political battle, was elected leader of Britain's Conservative party Tuesday. Women from both the Conservative and Labor parties hailed it as a historic victory.
"To me it is like a dream that the next name on the list after Sir Winston Churchill, Harold Macmillan, Sir Alec Douglas-Home and Edward Heath is Margaret Thatcher," she said after beating male candidates in voting by Tories in the House of Commons.
The men she named were her
servants, party leader, and all served
a grime police.
With national elections possible at any time before 1979, Thatchner would become Britain's first woman prime minister if her husband, the Minister Harold Wilson's Labor party.
That would give Britain both a woman head of government and a woman monarch, Queen Elizabeth II, as head of state. As such she would not be the principal adviser to Queen Elizabeth.
However, her title now becomes Leader of
the Queen. She will have a formal contact with the queen.
Already Thatatcher holds more elective power than any woman in the history of British politics. She was a revolutionary leader, conservatives, always the party of tradition.
"I shall take on the work with humility and dedication," she told a news conference. "There is much to do. I hope to do it thoughtfully and well."
Thatcher, a 49-year-old research chemist
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"The great danger is a stalemate—that Congress will do nothing." Pearson said. He was on hand to greet Ford when the cars arrived Tuesday morning from Houston.
Pearson said the debate between the White House and Capitol Hill was "not a really bad confrontation. It causes an interchange of programs back and forth.
Renee Short, another Laborite, said,
"There is a lot of prejudice against women
in this place and she has shown just what
can be done."
servative party," said Laborite Shirley Williams, like thatatcher a product of Oxford's Somerville College. "I can't help admitting being pleased to see that in the Tory party, of all parties, a woman has broken through."
TOPEKA (AP)—A stalemate between President Gerald R. Ford and Congress is the biggest danger in working out solutions to this nation's energy and economic problems. Sen. James B. Pearson, R-Kan., said Tuesday.
"Congress is to go adopt an economic energy program but it won't look much like the President's program," said Pearson, an integral in getting Ford to come to Topeka.
Pearson said in an interview that he believed that both sides were serious about arriving at some solution through compromise.
Ford remains adamant that he wants to try curtailing U.S. consumption of gasoline through steep price increases. Pearson said Ford's advisers viewed that as the only alternative to some system of stamp rationing of gasoline.
"The President has something he is willing to fight for, but another he is also."
Pearson says stalemate may slow reform
Elect JOE SWEENEY
SENATOR
Oliver College
Paid for by Joe Sweeney
Whiteleaf, who had been the betting favorite to win until the last hours of the race, said, "i congratulate her. I am sure the party will unite behind her."
and tax lawyer was educated at Oxford. She served in the 1970-74
integrative government in England.
She said she had telephoned her oil executive husband, Denis Thatcher, with the news only to find he knew it already from news reports.
In the first step of the Tory leadership race last week, she toped Heath. This time she defeated four others, receiving 146 votes against 79 for her closest rival, William Whiteclaw. She thus captured an outright victory in the 76-member Tory caucus in the Commons.
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--worries because “the dollar means goods and goods had been greatly staked the past two years before pretty stable the past year.
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VISTA can't offer much money and the other tangible benefits aren't much to write home about. The community you intend to serve won't welcome you with a big brass band and there will be certain people who won't want you at all. And, when you've left one or two years later, you'll carry around the nagging suspicion that your contribution created not the smallest ripple in the cosmic sea.
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But throughout the U.S. there are poor communities that need your skills in business or education or health or planning or architecture or law or any of the liberal arts and sciences. Talk with a recruiter this week about opportunities in 1975
Ten years ago VISTA was born without much fanfare. Not many people noticed—of those who did, not many cared.
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VISTA
(Volunteers In Service To America)
February 17-19
Union & Placement Offices
NOTICE
--worries because “the dollar means goods and goods had been greatly staked the past two years before pretty stable the past year.
Call 864-3746 for information.
The Student Senate is accepting budget requests for the allocation of student activity fees. Organizations requesting funding for the fiscal year 1976 (July 1, 1975-June 30, 1976) can obtain request forms from the Student Senate Treasurer's office, 109B in the Kansas Union.
All Requests Due Before 4:00 p.m. Friday, February 28, 1975
Absolutely No Late Requests Will Be Considered
Financed with Student Activity Fees
re said the dollar had actually gained in value recently compared to the Japanese yen and the Canadian dollar, the currencies of America's two major trading partners. The major decline has been against the West German mark and the Swiss franc, where the dollar's value is only about 20 percent of what it was in mid-1947, Bennett said.
He indicated some oil-producing nations may be investing in Swiss francs in an effort to diversify their investments, noting it takes only a small amount of activity to cause major changes in the value of the Swiss currency.
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Becky Powell
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The Treasury Department reported in January that there was a slowdown in investments in the United States from the oil-producing nations that are members of the Organization of Petroleum Exporting Countries.
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plc ground air law
What Is PLC?
It is many things—some of which are:
1. Financial aid of $2700 during college;
U. S. MARINES
2. A summer job opportunity;
3. A leadership/management executive position at a starting salar,
$9,500.00 to $11,500.00 per year after graduation from college;
4. And more . . .
The Marine Corps Platoon Leaders Class (PLC) offers qualified college men all of the above, and better yet, it does not require a commitment on your part. You may give PLC a try and if you don't like it you may disenroll on request.
A student in the PLC program does not attend drill sessions or special classes during the school year, nor is he required to wear a uniform on campus. If you decide to remain in the PLC program, you may be commissioned as a Second Lieutenant in the United States Marine Corps the day you earn your Bachelor's Degree.
If you would like more information, please feel free to stop by our display while we're on campus. If you miss us and are interested, just call our office collect at the following number: 816-374-3031/3616.
The United States Marine Corps Officer Selection Team will be visiting your campus on the following dates: February 11, 12, 13, 1975 from 9:00 to 4:00. The location of the visit will be the Main Lobby, Kansas Union.