2
Tuesday, February 4, 1975
University Dally Kansan
Market trading heavy
NEW YORK—The stock market paused briefly Monday and then pulled ahead in heavy trading spirits by the continuing decline of interest rates and by its own technical strength. The Dow Jones average of 40 items dropped to 71.44 from 711.44. Since the first of the year, the index has climbed 95.20 points.
Trading volume on the New York Stock Exchange totaled 25.4 million shares, heavy by usual standards but below last week's record-setting race. Gaines led losers, 1,158 to 372 among 1,867 issues traded on the Big Board. President Gerald R. Ford's budget message to Congress calls such a move an deficit during fiscal 1978, that little appears impact on the market. A number of banks lowered their prime rates and that aided the market.
income tax cut approved
WASHINGTON - A proposed $8.4 billion tax cut for individuals this year was approved by the House Ways and Means Committee Monday night, 21 to 14, as the panel worked on an economic emergency tax reduction bill. Meanwhile, the committee rejected, 20 to 15, a proposal backed by Republicans for an $11.1 billion individual tax rebate for 1974. The committee will return to the tax rebate issue Tuesday.
The committee agreed that if it accepts some kind of rebate of last year's taxes, it will be done through a single payment instead of the two-installment approach proposed by President Ford. Ford recommended a $12.2 billion, 12 per cent rebate for individuals' 1974 taxes, with a maximum refund of $1,000. An alternative to Ford's proposal, Rep. Al Ullman, D-Ore., the committee chairman, recommended a $6.9 billion refund of last year's taxes, making the rebate 10 per cent and fixing a $300 maximum amount.
Committee approves Levi
WASHINGTON-Without a dissenting vote, the Senate Judiciary Committee approved the nomination Monday of Edward H. Levi to be attorney general. President Gerald R. Ford nominated Levi to succeed him in the Cabinet post. Sauber was sworn in earlier Monday as ambassador to India.
Bennett to check KCC
TOPEKA-Gov. Robert F. Bennett will personally investigate the use of telephone company credit cards by the three members of the Kansas Corporation Commission. Bennett said he would meet Wednesday morning with the three commissioners. "Obviously, I would have much preferred they hadn't accepted the cards," Bennett said at his daily news conference. The practice was discontinued Jan. 1, when the state's new conflict of interest law went into effect and the commissioners' commissioners would be told I consider the facts," when asked if it might demand the resignations of the three commissioners. Commission Chairman Dale E. Saffles said southwestern Bell had provided the credit cards to commissioners for many years.
Quick release backfires
WASHINGTON—The White House press office took action Monday on reports of a leaked document detailing publishing details of briefs provided by Gerald R. Ford's fundraiser before the noon meeting.
Press Secretary Ron Nessen said a reporter for the paper will drop from the list of those scheduled to ask questions at a Tuesday news conference in Atlanta. The newspaper also won't receive an advance copy of Ford's economic message to be released today. Reporters for the Star-News also will be barred from an advance briefing on the economic message, Nessen said. Star-News Editor James Bellows termed Nessen's actions "childish". Bellows said the embargo was broken because Ford himself had released key figures in the budget on Saturday.
Americans got another rebate offer Monday as General Electric Co. joined the list of firms who will give money back to buvers of certain company products.
Rebates offered to bait customers
Banks, boat makers and builders are among those who have followed the auto industry's lead in offering rebates in an attempt to spur sales.
By The Associated Press
GE said it would offer rebates of $2 to $5 to people who would buy any one of 39 small toy electric vehicles between March 21 and May 14, and produce a warranty to the company's housewives division.
Industry rebates on consumer products are intended to help the nation's sagging
economy by encouraging individual spending. Banks are lowering their prime interest rates to encourage corporate spending.
The auto industry has been among the hardest hit by inflation. Slumping sales of new cars prompt manufacturers to manufacture models from $200 to $300 to buysers of 1975 models.
American Motors Corp., the last of the auto makers to join the rebate parade, announced that it lost money in the first quarter of fiscal 1975.
General Motors Corp. announced that earnings in 1974 dropped 60 per cent from
U.S. to propose floor on imported oil price
WASHINGTON (AP)—The United States will propose establishing a minimum price for imported oil to insure that prices never fall low enough to threaten development of new energy sources, Secretary of State Henry A. Kissinger said Monday.
Pointing to production cuts and price drops already ordered by some oil-producing nations, Kissinger said the need for a floor under the cost of petroleum products would be acute in the next few years.
He told a National Press Club luncheon that the United States would propose a price support system when the international Energy Agency (IEA) meets Wednesday in
The idea already has been discussed with 2A members, Kissinger said and their response was positive.
The current posted price of imported oil is about $11 a barrel. Before the oil crisis broke in the summer of 1973 the price was about $3 a barrel.
Enrollment ...
From Page One
Arabia have greatly increased their numbers of students, he said.
"Because of new emphasis in scholarship programs within their countries," Coan said, "they've been the ones that have expanded the most."
Figures on foreign students' major fields of study during fall 1974 indicate that 20 per cent were in engineering, 15 per cent in science and mathematics, 11 per cent in social sciences, 7 per cent in education and 6 per cent in business.
The figures indicate there was only one student in petroleum management.
Coan said engineering was perhaps the field with the greatest diversity of foreign students. Many students from Iran, Latin America and Kong, are enrolled in engineering, he said.
A large number of students from India are in science and mathematics, and many Japanese are in business. Lybian, Sudi Kanata and another student students are concentrated in education.
Compared to last semester's 140 students in the Intensive English Center, only 135 students have completed the course.
students was social welfare with four,
followed by fine arts with 13 students.
Last fall the foreign community at KU represented 80 countries, including such countries as Nepal, Gabon, Khmer Republic, and Fiji Islands, Sri Lanka, Oman and Yemen.
Most students interviewed liked the KU campus and the people they had met.
“It’s beautiful,” Aharon Shashar, Jerusalem graduate student, said. “It’s a matter of fact that I had a chance of traveling through the U.S. I went to several campuses and I found this campus very attractive.
"People are very nice and understanding but they aren't aware of the physical and emotional obstacles that foreign students go through when they come to a new place."
The field with the least number of foreign
Most of the students said they were self-supporting and had selected KU because of advice from relatives, friends or governors in charge of financing the student abroad.
Said Kasdelel, Tehran, Iran, freshman,
said "Some of my friends were studying at
a good university. I think it's a good
university, it's big, beautiful and
academically, it's very good."
Kansasans were in 1870 on a liquor-by-the-drink amendment without a local option provision. it failed by 11,000 votes out of 681,000 cast.
If the effort fails in the Senate, that will end consideration of the resolution for this session. Rogers and House Speaker Peeter MGill, R-Winfield, have said since before the session opened that the liquor resolution would be considered in just one house.
Liquor bill today faces watery grave
ELECT JOE SWEENEY
SENATOR
OLIVER COLLEGE
Paid for by JOE SWEENEY
However, most senators and observers agreed it appeared the proposition would fall about two votes shy of the two-thirds majority.
The resolution will face an uncertain fate in the Senate. Proponents remained hopeful late Monday that two or three senators would support the majority would have a change of heart.
Senate President Richard D. Rogers, R-Manhattan, made the liquor amendment the No. 1 item on the Senate's debate calendar after the Senate Judiciary voted Monday morning to recommend that the Senate approve the resolution.
TOPEKA, Kan. (AP)—The state Senate will debate a resolution this afternoon which, if approved by two-thirds of the members in both houses, will submit to the voters in 1976 a liquor-by-the-drink constitutional amendment.
"We estimate a rate of inflation between December of 1974 and December of 1975 of a little more than 9 per cent," Ford said. "While these projected figures present no rosy picture, they forecast the real improvement we expect in the coming months."
The General Electric rebates are intended to convince retailers to stock up on electricity, so consumers have been strong, but retailers are reluctant to build inventory because they fear the nation's economic troubles might cause them to be stuck with unsold
President Ford, asking Congress to approve a $394.1 billion budget with a record peacetime deficit of $52 billion, said projected figures showed a gloomy economic picture for the year ahead. Ford would improve before the end of 1975, however.
The GE plan covers a wide range of appliances, including mixers, coffeemakers, irons, toaster ovens, digital clocks and hair dryers.
An organ bank in Cleveland is offering $100 back to purchasers. The First Pennsylvania Bank of Philadelphia is offering cash rebates of $50 to $100 to people who buy a new, American-made car and finance it through that bank.
A manufacturer of a porcelain product owes its employee cent cash rebate to the employer per purchase.
WGR Homebuilding Co. of Cleveland, WGR has offered from $200 to $850 to buyers of homes in the Greater New York area.
From Page One
The Goodyear Tire & Rubber Co. of Akron, Ohio, offered a $100 bonus to any car that will participate in the United States who buy a 1975 American car. The company set up a sidewalk showroom of cars at its corporate headquarters, banner that read: "Get America Rolling."
Candidates ...
An Associated Press spot check showed other rebates be offered by a wide range of retailers.
"Hopefully, students will not consider my
me as a teacher," she said. "They will
consider my experience."
O'Brien, the only female running for president, won't consider her sex or asset or a bank loan.
The Ouchita Marine and Industrial Corp.
Arkadelphia, Ark., is giving rebates of up to
$20,000 per employee.
She said she wouldn't use her sex as a campaign issue.
Liquor proponents contend that the electorate has changed by about 50 per cent since that vote. Opponents say the only people clamoring for another vote on it are those who benefit financially from it, principally hotel and motel operators and restaurants.
"I am running for student body president," she said. "It should make no difference whether I am a man or a woman."
increased student representation on the athletic board, on which three students present sit, because, McMurray said, the students run the board, rather than the students runs the board.
Tuesday, February 4, 7:30
Jayhawk Room,
Kansas Union
Agenda includes:
O'Brien said she and McMurry would support student representation on the Board of Regents and the creation of a student advisory council, proposed during the 1974 gubernatorial campaign by Gov. Robert F. Bennett.
The resolution contains the local option provision. This provision would put the burden for getting an election on the "wet" forces if state votes were to approve the resolution. In other words, the state would remain dry even after the amendment was passed and up to cities and counties to hold elections to determine if they wanted to go "wet."
However, McMurray said, small organization that is not part of a community should be funded.
The team's platform specifies that Senate allocation of funds to sports programs be made on the number of each sex participating in a sports program. In addition, the team allocates funds would only be allocated to organizations that attracted student involvement.
The Senate Judiciary Committee approved the measure 12- with only Sen. Dan Hampton voting in favor.
ATTENTION ALL GRADUATE STUDENTS:
Meeting of the Graduate Student Council
Agenda includes:
Nomination of officers for GSC
Funding guidelines
Student Senate elections
Policy, gripos, ideas, etc.
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