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About The Battalion. (College Station, Tex.) 1893-current | View Entire Issue (April 16, 1975)
Economy Page 10 THE BATTALION WEDNESDAY, APRIL 16,1975 Industry output saw sixth month of decline WASHINGTON (AP) — The output of the nation’s industry fell 1 per cent in March, the sixth straight month of decline but the smallest drop since last October, the gov ernment reported Tuesday. “This may very well be the be ginning of the end of the decline, said Henry Wallieh, a member of the Federal Reserve Board, which prepared the report. Wallieh told newsmen that the March figures on industrial output show the economy may be starting the turnaround expected by midyear from the current recession. The 1 per cent decline in indus trial production in March compared with a drop of 2.6 per cent in Feb ruary and was the smallest decline since a drop of six-tenths of 1 per cent in October. The Federal Reserve Board said output of consumer goods rose for WE State helps ciwe alcoholics the first time in March since last summer, largely because of a big increase in automobile production during the months But the one per cent decline in over-all output by the nation’s fac tories, mines and utilities meant the nation’s industry was producing 12.1 per cent less in March than it was a year earlier. The nation’s industrial produc tion index in March stood at 109.6 per cent of the 1967 average of 100, down from the record production levels of 125.8 in June of last year. The March decrease was the smallest since a six-tenths of one per cent decline in October, when the current six-month slide in produc tion began. The reduced rate of decline ap peared largely due to an increase in auto assemblies during March, which increased 24 per cent to an annual rate of 5.6 million units. The rate in February was 4.6 million units. The board said that although total sales of new domestic autos de clined following the end to the industry-wide auto rebate program in February, sales nevertheless ex ceeded output in March and deal ers’ stocks were reduced even further from February'. Output of other durable goods. such as appliances and furniture, was little changed in March follow ing steep declines in previous months. Production of nondurable goods, such as food and clothing, also showed little change. But production of business equipment and industrial materials continued to decline, with produc tion of metals, equipment parts, paper and chemical materials all dropping. The March decline in over-all output, following February s drop of 2.6 per cent and January’s decline of 3.4 per cent, put the annual rate of production decline during the first three months of 1975 at 33 per cent, compared to a rate of decline in the fourth quarter of 1974 of 13.1 per cent. Government economists have predicted that the worst of the re cession may have occurred in the first three months of 1975 and that the recession will end in the current quarter, with a turnaround in the economy beginning about midyear. However, the nation’s unemp loyment rate is expected to rise higher than the 8.7 per cent level for March and industry will not begin hiring back workers until several months after the economic recovery has started. In other major economic news: —President Ford is expected to invoke emergency action to block a national strike threatened Friday against the railroad's by the Brotherhood of Railway and Airline Clerks. —A circuit court in Omaha, Neb., ruled that the Agriculture Department will have to wait at least 45 days before it can imple ment new beef grading standards. —Senate and House conferees approved a new farm bill raising dairy price supports and the price floors for cotton, wheat and corn. —Three of the nation’s major au tomakers reported April car sales sharply below those of a year ago. They are General Motors, Chrysler and Ford. —The stock market kept its latest upsurge going with a solid advance in heavy trading. —A presidential spokesman said the Ford administration opposes a House-passed bill aimed at protect ing the unemployed from losing their homes through mortgage foreclosures. —The Department of Housing and Urban Development said the administration has taken so long launching a new program of housing assistance for the poor that about 160,000 families have lost their chance to take part. xwi r/ '., AUSTIN (AP) — Senators tenta tively voted Monday to spend mill- ions of dollars treating alcoholics, ■|UK after being told that drinking prob- Jems drain the Texas economy., IBB iff IE The Senate also took the next-to- last step in submitting a proposed new constitution to the people, with a special committee recommend ing, 7-0, that the Senate accept House changes. Tire full Senate will vote Tuesday. Sen. Bob Gammange’s proposal to treat alcoholics was approved 20-6, but another vote is still needed. The Houston Democrat said “it is a good, ecjuitable, humane effort to solve a problem that is dragging our society down.” The program would cost an esti mated $17,392,199. “It will put both parents back in the home, take families off welfare and keep them (alcoholics) from squandering hard-earned grocery money in booze,’’ said Gammage. He said alcoholics cost the $1.25 billion each year when such things as job absence and medical care are considered. Under the bill, a person could be committed involutary, after a court hearing, for as long as 235 days. Local ordinances to fine or jail a public drunk would be repealed in favor of the state law. we welcome} FOOD STAMP SHOPPERS /ii an re/KH m THE SIGN OF SERVICE : THESE SAVIN6S nff* rgs* * s pne* .AT-':::: 1 ' Wh^n we ere forced ti ncrease a price demt • •iV::’:;'*’ ^ our rfeirer maried a' a lower pnee wdl be told * w f™* M Bb ••jm ...When we 'educe a pnee "v on ‘he tboies be reduced and told at tbe lower pnee R V M When a can or package content more than one ^ ^ _ P and WIN El jC l C I JP UT 4 FINf STORES TO SERVE YOU MfE * 4900 TEXAS AVE. ^g||p * 9516 TEXAS AVE. ■™ * 200 E. 24A ST. It *9 Redmond Terrace (COLLEGE STATION A WE BRVAN TEXAS oik Quantity Rights Re tewed THESE PRICES GOOD THURS,FRI,SAT, APRIL 17,18,19, 1975 SUCED BACON [19 Piggly Wiggly Hew Vac Pack 1 lb. pkg. T BONE STEAK 49 RUMP ROASTsT-fr. 1« PIKES PEAK Swift Proten .. boneless lb U.S.D.A. FRYERS whole BEEF TEMPERS 1 WRAP..™ 11 -- Heuhoff Boneless 4 to 6 lb. avg. Heavy Beef 10IN STRIP STEAKw^T*?’ ROUND STEAK CHOPPED SIRLOIN. CALF LIVER ./*, BEEF CUTLETS/" Swift SIRLOIN STEAK 79 m HOSTESS HAMS LINK SAUSAGE^ GIVE NeuhofTs WRANGLERS. “ /*. OLD WORLD .Beloena.iinrleaf L?- I” LUNCH MEAT iV; 5 r OLD WORLD 'TODAY AMERICAN SOCIETY OF LANDSCAPE ARCHITECTS meets at 7:30 p. m. in the Bar celona party room. AMERICAN INSTITUTE OF ARCHITECTS will elect officers at 7 p.m. in the Architecture Au ditorium. THE LIBRARY presents W. R. Downs to speak on die space program at 7 p.m. in rm. 226 of the Library. ENGINEERING TECHNOLOGY will present Wil liam Henning to speak on the SIDA at 3 p.m. in Fermier rm. 305. THURSDAY CEPHEID VARIABLES meet in the conference room of the MSG Student Programs Office at 6:30 p. m. SAN ANGELO HOMETOWN CLUB meets at 7:30 p.m. in Rudder rm. 604. BRAZOS ORNITHOLOGICAL SOCIETY will pre sent a program on photographing birds at 7:30 p.m. in rm. 112 of the Oceanography bldg. BRYAN COUNCIL OF STUTTERERS meets at 8:15 p.m. at the Brazos Valley Rehabilitation Center. PRE-LAW SOCIETY meets at 7:30 p.m. in room 607 of the Rudder Tower to elect officers. MICROBIOLOGY SOCIETY sponsors a symposium on cancer from 9 a.m. till 9 p.m. in the MSC and on the 3rd floor of the Rudder Tower. WHEELMEN bike ride starts at 5:30 p.m. from the MSC fountain. THURSDAY HORSEMAN S ASSOCIATION will elect officers at 7:30 p.m. in Animal Industries rm. 215. WOMEN’S AWARENESS meets at 8p.m. in Rudder rm. 607. A&M/COLLEGE STATION AMERICAN LEGION meets at 7 p.m. in the lobby of the Bank of A&M for officer elections. FRIDAY BASEMENT will present a concert beside the MSC fountain between 11 a.m. and 4 p.m. NUCLEAR ENGINEERING will have a presenta tion on fusion reactors at 1 p.m in 203 Zachry. WILDLIFE SCIENCE will present O. T. Hayward speaking on urban geology at 3 p.m in 103 Zac hry. 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