| OCR Text |
Show Ferialb Ord:r fcurtinnt University of Ut-i- h Fait LQkecity Utah SALT LAKE CITY, UTAH VOLUME 16, NUMBER 182 AAA Says Its Record Not Anti-Consu- Impeachment Group Suffers Injunction NEW YORK (ACCN) for Nonexistent Nader and other critics want the motorist to pay more money to save him from himself." Bachman the auto clubs unyielding oppostion to the diversion of state or federal gasoline uses. taxes for If we take money from the trust fund for purposes, we to have obviously are going transportation for the great majority of our citizenry," he said. The alternative is to increase gas taxes so the motorist not only pays for highways, but also for nearly anything else that may come non-highw- non-highw- ay ay ate under a general garbage can heading of transportation." Nader announced in July, 1971, that he planned to investigate the Ttie ImNational Committee peachment a group which has been trying To stir up support for this mode of retiring President Nixon has been blocked at least temporarily from soliciting or spending money for its purposes. Judge Sylvester J. Ryan of the U.S. District Court for the Southern District of New .York granted a preliminary injunction against the Committee, September 5. The court order halts the group from raising or paying out funds for political pur-- , poses until it complies with U.S. election statutes. The Justice Department had charged that the committee had e violated the law by sponsoring a advertisement in the New York Times last May calling for President adThe Nixons removal. vertisement, Judge Ryan said, established that the group functioned as a political committee and was required by law to file reports on its contributions and expenditures with the office of federal I - Capsule - mer By Richard Hughes DETROIT (UPI) The President of the American Automobile Association (AAA) has defended the organization against criticism from those who purport to wear the mantle of the motorists friend." William B. Bachman, president of AAA, told the the 70th annual meeting Associations here that consumer critic Ralph it should not be a simply service organization for its members, but should take an aggressive role in supporting consumer causes in the auto field. He also criticized AAA for supporting the highway lobbys campaign to prevent the $4 billion highway trust fond from being used for any other purpose than highway building. According, to Nader, the reason the AAA has not taken a militant consumer stand is that its top executives do not want to rock a very profitable boat for them. A spokesman for AAA denied the is but oriented, acknowledged that its and board is organization 108-memb-er j I i elections. ! two-pag- ; i : ( T . . . .1 i" a all-whi- te e. The AAA strongly supports all efforts to build a strong, viable, balanced urban transporation system, Bachman said in his speech to the more than 1,000 delegates to the national meeting. This is official policy. What we do object to are the many proposals to divert trust fond monies to other than highway uses," he said. Bachman said 99 per cent of all trips made in urban areas are made by either passenger cars or buses and surveys show more than $5 billion is needed to modernize Election Campaign) Act. Hie advertisement plainly stated that the committee solicited contributions and funds ty be used on behalf of candidates for the House of Representatives, in both party primary and election contests. It named eight present members of Congress for whose election it I 72 See details page 4 . Plaintiff counsel: Vernon B. Romney David Irvine Defendant counsel: Brian R. Florence 818 26 St, Ogden Economic Periscope By Lee Ruwitch Miami Review John Connallys Democrats for Nixon" organization is hurting George McGovern. Disenchanted Democrats will vote for Nixon in increased numbers this year. It appears like Nixon will get 58 percent of the popular vote, McGovern 42 percent. the FTC to attack consumer credit practices that exceed public values" of fairness. Some credit companies file default suits in a court convenient to the company but far from the debtors home. Look for Corporate earnings are bright and business is enjoying prosperous times. Advance indicators are in a strong upward trend. However, the Federal Reserve has recently acknowledged that it will be taking a less liberal approach in monetary expansion to avoid refueling the inflation. In addition the Fed is convinced that we are on the way back to a very solid controls economy. The wage-pric- e to help appear dampen the inflationary pressure. In summary, we still feel that the stock market is poised to resume its primary uptrend and recapture its vigor. Agriculture Dept. Charges Market Raid Wheat Crop Needs 71 Store WASHINGTON (UP- I- Nine companies and eight individuals have been named in an Agricultrual To Fill Demand them with attempt to manipulate potato fotures last year on the Chicago Mercantile Exchange. - sought fonds." The WASHINGTON (UPI) Judge Ryan noted that papers of size of the filed with the comptroller general governments estimate 1 cent showed the cost of the ad- the 1972 wheat crop rose per harvest the vertisement to have surpassed during August, lifting estimate as of Sept. 1 to 1,559,501,000 $17,000. He denied a motion brought pro se bushels, the Agriculture Department has announced. by Randolph Phillips, identified as Massive wheat sales to Russia, the chairman of the Committee for at about 400 million Impeachment in his affidavit, to reported bushels, already have made it apdismiss the action. some 300 The motion was grounded upon the parent the 1972 crop will be to fill too small bushels million alleged facts that U.S. Attorney domestic and overall export Whitney North Seymour, Jr., of the 1972-7- 3 in the demands marketing Southern District did not read the winch began July 1. The gap complaint as filed or affix his year will filled by pulling older wheat be signature thereto in compliance with out of a "carryover stockpile which the applicable civil rules." stood at 867 million bushels on July Judge Ryan called the motion sham and frivolous." 1- i PRETENSES AFFIRMED Utah . Paul Victor Smith non-consum- er find and conclude that irreparable damage will be done to the integrity of our federal elections unless the relief sought is granted," Judge Ryan said. e His decision held that: The existing highways, roads and on advertisement published streets. May 31, 1972, by the defendants in Ron Landsmah, representing the New York Times establishes a said neither Nader nor his Nader, substantial prima facie showing that has taken a postion on the defendants were and are func- organization diversion of gasoline taxes for nontioning as a political committee uses. under section 301(D) of the (Federal highway I 'S ; all-mal- Corporation OBTAINING MONEY UNDER FALSE AAA, claiming two-pag- t Utah Supreme Court Decisions - Department complaint charging THURSDAY, SEPT. 21, 1972 New Investors Look For Socially Conscious Firms NEW YORK (ACCN) Virtue may prove to be more than its own reward. Morality's stock appears to be going up. Growing numbers of a new breed of socially concerned investors are scouring American business to find companies that can both do good and do well in the nations pragmatic money markets. Universities, church groups and foundations are, of course, among such investors. But Wall are not alone. Hard-nose- d Street investors have also got the Barney & Co. First Spectrum promises not only to invest its present assets of $250,000 in socially message and are exploring what lately has become known as socially responsible investing. Over the past year, the financial world debuts of a group of social responsibility funds has underscored that message. The morality market" is spotlighted in the current issue of Saturday Review The Society. Harvey Shapiro, writer and consultant who recently completed a study, of the soical responsibility funds" for a national foundation, reports on this investment trend. Social responsibility funds" are set up as mutual funds. When making investment decisions, the new funds analysts first seek to determine which companies are discriminating in hiring, damaging the ecology, or violating consumer trust with faulty products. Only from among those corporations behaving acting from the analysts point of view in the public interest do the funds then choose investments that they hope will be profitable. At present, four funds are committed to this novel approach. The bluest chip among them is Third Century Fund, launched last spring by Dreyfus Corporation, the chain. Those bullish on the concept of the funds say investment on the basis of corporate good deeds or bad deeds" can be uniquely effective in promotion of enlightened changes in giant money-manageme- nt responsible companies but also to involve itself actively responsibjji development porate attitudes.!..: a fiad an chain, signed supermarket agreement with Operation Breadbasket to hire and promote more . blacks, First Spectrin ftOngftt Bohack shares aina prepared and distributed . urging the public to patronize the grocery V-leafl- Buying (reward) or selling (punishment) of stock is the kind of language businessmen understand. Also, such , advocates, contend, the more of impulses responsible" reinforced executives will be by the prospect of luring such investments. Conversely, tough, public-be- damned businesses might think twice about a practice that might lead such funds to shun andor dump their stocks. As one major brokerage house research director sums it up: Were watching to see how the funds do, and if social responsibility is what people want to buy, you can be sure thats what were going to be selling." Senate Approves Crime Victims Compensation - The WASHINGTON (UPI) Senate has voted to compensate will seek companies doing "breakthrough work in medicine, mine safety, and other fields likely to affect the quality of life in the next victims of violent crime with payments of up to $50,000 for their injuries. Despite the oppostion of the Nixon Administration, the legislation was September 18, and approved 61-sent to the House. With Congress hoping to adjourn in early October, final approval decade. The $250,000 Pax World Fund, launched last fall by two staff members of the Board of Christian t behavior. corporate firm. Officials stressed in an announcement that the complaint brought under the federal Commodity Exchange Act does not constitute proof that a violation actually occurred. A public hearing to air evidence and defense statements in the case will be scheduled later in Chicago, the Department said. The complaint contends that a number of large long" traders, acting together, tried to raise the price of the May, 1971, Idaho potato responsibility. foture. Oldest perhaps most unortLong" traders, in commodity trading, profit when prices hodox of the new groups is First rise. Spectrum Fund, set up last fall by The complaint also alleges that two former brokers from the Wall one large short" trader tried to Street investment firm of Smith hold the price down. cor- After Bohack Corporation, Third Century already had a money pool of nearly $25 million from its shareholders before sales to the general public began late in June. It Social Concern of the United Methodist Church, has an ecumenical board of directors. Its main aim is to provide religious groups with an investment vehicle that will enable them to avoid holdings in firms that profit from the Vietnam war. It hopes to put 10 per cent of its assets into investments in developing countries. ' Social Dimensions Fund, a joint venture of Louis K. Polk, former president of MGM and of General Mills, and Ralph Quinter, a mutual fund manager, is the most recent. It probably will not emerge from its registration process with the Securities & Exchange Commission and begin selling shares to the public for at least another month. The fund already has contracted to use research services of the Council on Economic Priorities, a Ralph Naderesque research group that performs industrywide studies on questions involving corporate the in. of 8, from the House is considered unlikely. Compensation would be extended into victims, or their as act killed criminal a or by jured to well as persons who try prevent a Good crime the next-of-ki- n, . so-call- ed Samaritans. An independent board would make the compensation distribution. Compensation for victims of crime on federal property would be full compensation with federal funds while the government would finance 75 per cent of the state programs. authorization would The first-yebe $5 million for the direct state program and $10 million for the state ar . grants. an The Senate also ratified, 69-international agreement providing a three-fol- d approach for preventing illicit traffic in narcotics drugs. The agreement strengthens control machinery for cutting down on the cultivation of the opium poppy; expands existing bilateral extradition treaties, and establishes guidelines for avoiding drug abuse and for the treatment of individuals. 0, V |
