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Show ... Serials Order Department of Utah University 84112 ... City UHIVERSnY 0P ' UBRAWi v VOLUME 17, NUMBER 183 Economic Periscope SALT LAKE CITY, UTAH Supreme Court Decisions By Lee Ruwftch Miami Review MOST AMERICANS still believe, mistakenly, that' Social Security is a dole exclusively for the aged. Ten million Americans under the age of 60 (and averaging a mere 30) are now collecting Social Security. These non-ol- d WEDNESDAY, OCTOBER 3, 1973 40 Out of 100 U.S. Wives Now - Whether (UPI) by economic necessity or a greater desire to pursue their own careers, many more wives hold jobs now than in the 1950s, the U.S. Census Bureau's chief has testified. WASHINGTON (See details page 4) VWs, Chevvies Are Prime Auto Theft Targets Judge Orders Files Released DALLAS (UPI)-U- .S. District Judge William M. Taylor has ordered the confidential release of White House information files to office holders Waggoner Carr and John Osorio, under indictment for stock fraud and former Texas SPRINGFIELD, ILL. and Chevrolet owners have most to fear from car thieves, according to the man in charge of conspiracy.authorized release of the Taylor remains undistributed in U.S. this years midwest motor vehicle files, prepared by the Justice Treasury vaults simply because no theft conference to brief police on Department, to afford the defenanti-theone steps forward to claim it; techniques. and their attorneys an opdants BANKERS INTERNATIONAL "Among the U.S. models, the to prepare for hearings on now ask: What are to be the chips Chevrolet is most frequently portunity in the new monetary game? Once stolen," said Robert Sattler of the dismissal'of the charges. Carr, former Texas attorney the dollar was the main chip. And National Auto Theft Bureau. Sattler, with it, gold. But, the dollar is no from Florissant, Mo., helped the general, and Osorio, former Texas insurance commission chairman, longer convertible into other Illinois State Police set up the 10th contend the government sought to currencies at a fixed price. Its trade-i- n annual conference. value is now left to the market"This is in part because there are embarrass the states Democrats by to convicted more Chevvies than anything else granting immunity place." in of Nations will not part with gold at around, Sattler said. "But the pro swindler Frank Sharp Houston for his1 testimony against $42 an ounce when it sells in the open really loves the Chevy because of the exchange them. market in London, Paris and Zurich market. They claim the federal inat $124 an ounce. "Stealing cars is an eat em up Sattler explained. "Drag dictments against them were Now, there is no urgency to reform game, the monetary system. But when the racers especially need motors and returned before the 1972 general election and timed to discredit the pain of inflation increases, nations transmissions for their cars all the time because they eat em up on the Texas Democratic Party effort. may be motivated. The files are said to contain When will the boomy economy track. facts about prosecution sensitive slow down and gradually shift to a "If you price these parts, youll in the Texas stock fraud tactics more sustainable growth rate? Or find they dont come cheap. But if scandal. must we suffer the painful conyou go to one of these midnight On Aug. 9, Taylor ordered U.S. a auctions, they dont cost so much," sequences of a hard landing Attorney Robert Mahoney to severe recession? Some economic Sattler said. the file for his inspection. As to foreign makes, Sattler said, produce forecasters predict an economic The court, after an in camera' recession sometime in 1974 as the VW's are the most attractive lure to result of restrictive monetary and thieves. This is partly because there inspection. . .has turned over to Carr and Osorio) certain documents to be fiscal policy now in play. are so many of them. for their hearing Prices are rising sharply "But it's also because theyre so used in preparation on worldwide so efforts are directed to small," Sattler said. "That little on their motions to dismiss measures. The bug two guys can pick it up and grounds of selective prosecution," Taylors order read. present runaway boom foreshadows cart it away." an equally pronounced deflation but the longevity of the current worldwide upswing is unpredictable. TRENDS IN THE CANADIAN economy closely parallel those in the of Canada's total U.S. Over one-hal- f domestic production is exported and The ment which would declare "The WASHINGTON (UPI) 70 per cent of all exports are American Legion has urged a Senate right of persons lawfully assembled directed to the U.S. subcommittee ' to approve a in any public building to participate HIGH MULTIPLE STOCKS that proposed constitutional amendment in voluntary prayer." It was inhave held up well since the market to permit voluntary prayer in public troduced Richard Sen. by started going down in January are schools. and has some 48 Schweiker, overdue for a correction. As the Charles E. Mattingly, the Legion's cosponsors. market erodes, their position deputy director, told the conAlso endorsing proposals lor a subbecomes increasingly perilous. In stitutional amendments prayer amendment was the Rev. a have we the meantime, may committee that the 3.7 million Robert G. Howes, coordinator for a temporary recovery in the market. member organization could not group known as Citizens for Iublic support "any public authority Prayer. the form or content of Howes, a Roman Catholic priest prescribing Prisoners Taking to a any prayer, but endorses the right of from Worcester, Mass., referred decision 1962 Supreme Court against any person to voluntarily participate College Courses said: and school in prayer." prayers prescribed MO. KOLIA (UPI) It is almost unbelievable that Eighty "We believe the First Amendment inmates of the Missouri State. Prison was adopted to protect the American still today. 11 years beyond the first are taking college courses in people from the establishment of a prayer ban decision, not only is freedom of religion denied in the sociology, history, mathematics and state or national religion and was English. The courses, funded never intended to rule God out ol any public classroom hut Congress has failed to permit the nation to decide through the Law Enforcement facet of American life." Mattingly Assistance Council, are taught by testified. this matter through the conof the members faculty University The subcommittee has begun stitutional process of amendment of Missouri at Rolla. ratification." hearings on the proposed amend (UPI)-Volksw- agen ft . ol working teams increased sharply during the period, so did joint-incom- In Texas Case In Work Force Director Vincent P. Barabba did not speculate on the reasons, but said that figures compiled from the last national census in 1972 showed 40 out of every 100 wives were in the labor force. This compared to 25 out of 100 in 1950. Among women with children, 30 out of 100 were working last year compared to only 12 in 1950. While the proportion of husband-wif- e pre-scho- age pensioners receive $13 billion annually, and both thdir number and the amounts of money they collect are bound to increase in years ahead. So generous has Social Security for younger Americans become, in fact, that it amounts to Free Money. The biggest problem in connection as the with Social Security to is admit itself first government is giving the money away. That is, the publics woeful ignorance of the availability of funds has prevented its full distribution. Over one billion dollars, according to experts, H Barabba said the e. median husband-wif- e income in 1972 was $13,900 compared to $4,900 a couple decades earlier. Some other Barabba statistics, given to a Senate subcommittee conducting hearings bn trends and pressures affecting family life; ember 24: . The median age in 1972 for first marriages was 23 for men and 21 for women, nearly one year older than Sept the mid-1950'- s. The average number of children born today is 2.4 per married, compared to 3.3 in 1960. The average family size is 3.5 persons compared to 3.7 in I960. Forty of every 100 families either had no children or all their children had left home. Citys Theater Blue Law Invalid A 19th pending a final decision. (UPI) James T. Folejy, U.S. District local law century authorizing the Court of toclose theater judge, said the law does not mayor Albany any which he feels is showing lewd or provide for a public hearing and immoral programs was ruled violates due process of law. The 1884 unconstitutional by a federal judge measure also fails to define "lewd" or "immoral," Foley added. September 12. The law was used by Mayor Hie owners of the controversial Erastus Corning II recently in an movie house, Pvetit Cine 1 and 2. attempt to shut down a new theater asked Foley to declare the law movie. Ah apshowing an peal was filed in the courts and the unconstitutional, after Corning said movie, "The Devil in Miss Jones," he was using it s the basis for was allowed to continue being shown revoking the theater's license. ALBANY, N.Y. ed H -- anti-inflationa- ry School Prayer Amendment Has Legion Support - R-P- - . Log pchneJo GE IS PREDICTING GROWTH RECESSION NEW YORK All kinds of business predictions for 1974 are craning from economists. But that from General Electric is attracting most attention because of the phrase "growth recession." A recession is no business progress, and often a decline, for a period of at least six months. Thats the twist in the GE phrase growth recession." When boiled down, the GEers are saying there is ahead a period of slower economic growth fra the remainder of 1973, and an economy on a slightly rising plateau fra most of 1974." Reasoning: Slackened demand and increased farm supplies, coupled with Phase 4 price controls, will reduce the inflation pace and help to avoid a protracted decline on a broad front. Investment managers are interested in the GE background of the "growth recession" prognostication. Capital spending for plant and equipment will rise in 1974 but only 10 per cent against 15 per cent for 1973; and industrial prices will rise only 4V4 per cent against 15 per cent for 1973. The Federal Reserve will keep credit tight (meaning continued high interest rates), housing starts will decline an ad ditional 15 percent in 1974 on top of a drop of 4 per cent in 1973, anc there will be a slower growth in consumer income. To top it all, the GE figures say automobile sales will dip 10 per cent from the ll1, million-un- it volume of 1973 to 10.3 million which is still a declining good year compared with other sales years. ; look-ahe- ad . In a nutshell, what the GE economists are predicting is a more healthy economy in 1974 than the overheated inflationary a slower growth blit periods witnessed in the past three years just barely not a decline. Says a bank "think tank" member: Should a "growth recession" become a reality, there are bad days ahead for speculators on the commodities exchanges, and tougher times for traders who mess round with the o growth' stocks. go-g- high-multip- le |