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Show w western i tnt i'.ob:rt fchmi? of 11. of l' ll ' Or UTf MAR 1 '( 1972 SALT LAKE CITY, UTAH VOLUME 16, NUMBER 51 Economist Sees ces Utah Supreme Court Decisions Capsule h'sIing h No Felonious Intent Claimed CONVICTION AFFIRMED State v. Christensen Vernon B. Romney, David S. Young, Larry V. Hunt Defendant counsel: Margaret S. Taylor, S.L Legal Defender Association, 231 E. 4 South See details page 3. State counsel: Hoover Warn s Oh Use of Hostages By Robbers WASHINGTON (ACCN) - More and more banking institutions are using security devices, such as cameras, and bank robbers are aware of this, FBI Director, J. Edgar Hoover has warned in his March bulletin to law enforcement officials. Consequently, more and more robbers resort to techniques to circumbent technical these safeguards, Hoover said. One of their most dangerous ploys, he emphasized, is the seizing of hostages to force bank officials to open bank vaults while the facilities are closed and give the money to them, thus minimizing exposure to secutity devices. Obviously, the hostage bank robbery is more than a crime against property; it is a growing menace to banking officials and their families, Hoover declared. The specter of the armed criminal follows the banking official from his home to his office and back, he , notes. The FBI director said that just as there are no absolute means of . preventing bank robberies, if Michigan Ruling Leaves Possible Drug Law Hiatus - (UPI) The Michigan Supreme Court, declaring the states stringent laws against marijuana violators unconstitutional, left up in the air the question of whether offenders can be prosecuted between now and April l, when a new drug LANSING law will take effect. "We dont think theres any law against marijuana right now," said radical leader John Sinclair, whose conviction for possession was one of two marijuana convictions reversed by the high court, March 9. People should have a marijuana festival wherever they might be." The State Supreme Court struck down two provisions of Michigans current drug law by reversing the convictions of Sinclair, a founder of the defunct White Panther Party, and Eric Lorentzen, an auto worker from Rochester. In his concurring opinion, Justice John B. Swains on said the ruling does not mean that persons arrested for sale or possession of marijuana cannot be prosecuted under the laws of the State of Michigan." He said prosecution was still possible under the states dangerous drug laws. banking institutions are to continue to provide prompt, efficient service to the public, there appears to be no positive way of avoiding the hostage robbery. Thus, all possible efforts must be made to reduce the risk, and a significant degree of this responsibility falls on banking officials. First, all organizational securtiy plans should be periodically reviewed for full effectiveness, and all bank employees should conform to these regulations. The daily routines of banking officials should be flexible and should be varied sufficiently to eliminate habitual patterns which bank robbers look for. Bank officials should fluctuate their travel, as to time and routes, to and from the office. Adequate and workable safety measures for their homes and families should be followed. Further, Hoover added, consideration should be given to establishing simple, effective signal systems which, when activated, would alert other bank employees that a hostage-typ- e robbery is in A quick or has occurred. progress and dependable method of notifying appropriate law enforcement authorities is also necessary. Above all, the prime factor of any plans or actions is the safety and welfare of the hostages. Hie hostage bank robbery is not a condition that an open, free society can live with. This dangerous crime merits the grave concern of every banking institution, law enforcement agency, and community in the Nation. A campaign of con- -' tinuous, coordinated effort is needed to make the odds against success so great that hostage bank robberies will cease, Hoover .er ohasized. Lawyer In Vote Machine Case Wins Dismissal - A PHILADELPHIA (UPI) federal judge has granted a motion of acquittal to one of four Florida men on trial in a mail case involving an alleged 3748,000 voting machine swindle. John A. R Grimaldi, 38, a Tampa, Fla., attorney was acquitted by U.S. District Judge Daniel H. Huyett on the seventh day of the trial. The judge also dismissed Count Four of an indictment returned last July against four others and a Florida sales firm. The count dealt with the mailing of checks to a Tampa post office box. fraud-conspira- cy - Chair(UPI) Council of of the Stein man Herbert Economic Advisers said here March 10, that wholesale and retail prices would probably increase through March, but that he was still "optimistic" about meeting the administrations goal of slowing price increases to two to three percent by WASHINGTON GRAND LARCENY the end of the year. Stein singled out price increases in meats, lumber, hides and metals for special concern, and said White House economists were watching these areas closely. He indicated that the government might have to intervene if the nice performance in these areas is to improve. High Court Wont Hear Publisher In Libel Case firecracker Action Bulls Still Abound . . . TC T By Daniel K. Cunningham Daily Record Columnist Theres LAKE CITY as in a bear heavy sight yet hardly in Utah the continues trading market. "Trading will be hotter than a firecracker for a few days, then cool off a session, commented Boyd Corbett, account executive SALT over-the-coun- ter with Park-Jack-s- on Co., Salt Lake City. "I personally think it will continue for a while, in particularly Mr. Cmnlnglumi natural resources," Mr. Corbett added. He said trading three such issues has been quite strong. se He cited Stansbury, a gold and silver issue; Piute Oil & Mining, and Untie Mountain, the latter not WASHINGTON (ACCN) The to be confused with a Tintic stock U.S. Supreme Court has refused to on the Salt Lake Stock Exchange. hear an appeal from publisher Prices have continued to trend upEugene Pulliam, who was ordered to ward in these and other issues. In the higher priced issues, Car-d- k pay 3485,000 to a former Arizona libel General in suit. a Dynamics, a California firm, Attorney A front page editorial in the has put on a dazzling disolav for Arizona Republic on May 11, 1959, market watchers, according to John account executive with said Wade Church, then attorney Strong, Prince-Cove& Co. general, had advanced a "left wing Soared To $9.50 idea" by proposing the Labor unions This comnanv reportedly has a in Arizona set up a "People's device which detects heart attacks. Council" to counter the effect of It was trading in the $1 to business lobbyists in the state legislature. Mr. Churchs peoples council" idea comes straight from the CAB writings of Karl Marx, the god of scientific socialism, and the prophet of the of the international Communist movement," said the editorial written by Republic staff member Michael Padev. Church sued in Maricopa County WASHINGTON (UPI) The Civil Court and subsequently won the libel Board Aeronautics has proposed award from a jury. new credit restrictions for political candidates who want to fly now and pay the airlines after election day. In past elections, political candidates from both parties have run up large bills with the airlines for chartered planes, sometimes not making payment for four years or NEW YORK (ACCN) Net more. Some Democratic bills from shipments of aluminum sheet and the 1968 Presidential campaign are plate for 1971, at an estimated 3, still unpaid. 997.946.000 pounds, increased 8.4 per In its proposals, required to be cent from 1970 shipments of made under the election campaign 3.688.630.000 pounds, it was anact signed into law last month, the nounced today by S. L. Goldsmith, CAB offered for public comment five Jr., executive vice president, the alternative approaches to credit Aluminum Association. control: During the fourth quarter, sheet A against providing and plate shipments totaled an charterprohibition aircraft unless there is full estimated 918,419,000 pounds, 7.4 per in advance. cent higher than the shipments of payment Aircraft may not be provided 855.441.00 pounds for the same unless a candidate has paid previous period in 1970. airline bills on a regularly scheduled Foil shipments for the fourth basis of at least "semimonthly, with quarter totaled an estimated full payment remitted within 14 days 144.836.000 pounds. This was 3.0 per after billing." cent higher than fourth quarter 1970 Authority for airlines to refuse shipments of 140,657,000 pounds. service if not paid in advance, or if Decembers shipments of sheet full security is not put up in advance. and plate, at an estimated Authorization of an airline to 318.543.000 pounds, were 7.2 per cent extend credit "on such reasonable higher than December 1970 ship- terms" as it deems appropriate so ments of 297,155,000 pounds and 5.5 long as the same terms apply per cent higher than Novembers uniformly to all candidates." shipments of 301,858,000 pounds. Airlines would be required to Shipments of foil in December, at file special reports with the CAB on an estimated 48,587,000 pounds, the amount of credit given to canincreased 4.9 per cent from the didates. shipments of 46,303,000 pounds for The board indicated it would the same month in 1970 and promulgate the credit reporting decreased 2.6 per cent from proposal regardless of what, if any, Novembers shipments of 49,889,000 credit restrictions are - y 31-2- Proposes Tighter Credit For Candidates - 1971 Aluminum Shipment Totals Gain Over 1970 - pounds. adopted. 5 range a few months ago, then soared to as high as 39.50 asked. Most rerentlv it was bark down to around 36.62. to a nuarter higher. is Mr. Strong said Prince-Cove- y presentlv underwriting a new issue called Central Alarm International, Salt Lake City, which has an "intrusion orotection silent alarm system." The company has no earnings history, Mr. Strong replied to questioning, but the company has had success with a local pilot program. May Continue Mr. Strong agreed with Mr. Corbett that the relatively high volume and strong prices may continue for some time. It is Mr. Strongs opinion that the local penny friarket, broadly speaking, lags behind the Big Board some three 'to four weeks. "If you see real bullish or bearish trend on the New York Stock Exchange, it tends to be reflected in the local OTC market within that time." In other trading, Mr. Strong noted that Mountain States Resources, mentioned in a previous issue of The Dally Record, had climbed to as high as 90 cents bid, 95 cents asked, quite a change from two years ago when it was trading for a dime. The stock has weakened cent range. ' slightly to the 80-8-5 Hlko BeU Hikes Another active performer has been Hiko Bell, presently changing hands between 25 to 30 cents. Last Friday it peaked at 38 cents bid, 43 asked. A few weeks ago it was pegged between 10 to 16 pennies a share. Meanwhile, Skyline Oil Co., is back down around the 36.50 a share level, after trading for a dollar more a few weeks ago. In the stock moved upward and a Prince-Cove- y account executive (not Mr. Strong) commented that Skyline "is a stock that moves on fundamentals, not rumors. Apparently the fundamentals have changed about 16 percent Nationally and locally, the present continues to be a good time for new issues. The diversity and number of new issues is starting to reflect the bullish Many stock brokers are exercising caution however because the Securities and Exchange Commission is continuing its investigations g into why some OTC issues underwent such drastic price changes a few years ago. The result is expected to be more stringent policing of underwritings. (Neither Mr. Cunningham nor the publisher have an investment position in OTC stocks mentioned above.) mid-Februa- ry mid-1960- s. high-flyin- School Plan Passes Muster By Carl A. Vines KNOXVILLE, TENN. (UPI) -The neighborhood school concept won a victory, when U.S. District Judge Robert L. Taylor held that Knoxvilles school system was in compliance with desegregation rulings of federal courts. Taylor would not order busing to achieve racial balance or further integration of Knoxville. He also upheld school board actions which have integrated faculties, tightened transfer requirements and redrawn some school zone lines to achieve maximum integration within the framework of the neighborhood concept. |