► Page 12/The Battalion/Friday, October 14 1983
f
•■to'.'
Livestock will eat less corn
United Press International
WASHINGTON — Drought-
induced high prices for livestock
feed mean that feeding of corn
to U.S. livestock in the 1983-84
season will be at the lowest level
in §ix years, the government
predicted Thursday.
The Agriculture Department
reduced its estimate of use of
corn for feed to 4 billion bushels,
down 50 million bushels from
last month and down 11 percent
from the season just ended.
“The further tightening of
feed supplies will add to the
ressure on feeding margins for
ivestock and poultry producers
who already are contending
with recent sharp gains in feed
prices and with currently heavy
supplies of meat,” the depart
ment said in its world agricultu
ral supply and demand report.
The department reiterated
its prediction that total meat
production this fall will remain 4
to 5 percent higher than a year
ago, but meat production will
decline by 1 to 2 percent in 1984.
With smaller meat supplies
flati
next year is expected to rise to
between 4 to 7 percent, com
pared to less than 3 percent this
year.
to the smallest level in this cen
tury.
ter of the total on hand at the
beginning of this year’s harvest.
The latest predictions on feed
use followed an updated crop
report, in which the government
said the 1983 corn crop would be
4.26 billion bushels, 49 percent
less than last year and 3 percent
less than last month’s forecast.
The reduction in use of corn
for feed caused economists to
reduce their estimate of total
corn demand by 1 percent below
last month’s prediction. Export
demand estimates were un
changed at 1.9 billion bushels.
and higher prices, food inflation ram that reduced corn acreage
The reduction was caused by
the worst drought in a half cen
tury and the government’s prog-
du
The department reduced its
estimate of stocks of corn on
hand just before next year’s har
vest by 81 million bushels to 819
million bushels, less than a quar-
Corn stocks will bejust 12 per
cent of total use, the lowest ratio
in seven years and well below the
1982-83 ratio of 47 percent. In
spite of the reduction in sup
plies, the stocks-to-use ratio will
exceed the 7.5 percent average
of 1973-75 when grain supplies
were especially tight.
The department said that the
reduction in stocks-to-use ratio
would make prices more vola
tile.
Bankers hear economic forecasts
United Press International
HONOLULU — American
bankers ended their annual in
dustry convention Wednesday
amid forecasts of continued eco
nomic recovery over the next
year followed by a period of ris
ing interest rates and the threat
of another recession.
Economists told the Amer
ican Bankers Association the
prospect of $200 billion federal
budget deficits poses the danger
that interest rates will not come
down far enough to sustain
strong economic growth and will
eventually abort the recovery.
“It means this recovery,
which is going so well, is going to
be snuffed out prematurely,”
said Wall Street economist
David M. Jones.
Jerry L. Jordan, a former
member of the Council of Eco
nomic Advisors, said there was
good reason to be concerned ab
out the prospects of inflation
and interest rates given the huge
federal budget deficit and the
rapid growth in the nation’s
money supply.
“There are still good reasons
for thinking that the rates of in
flation and level of interest rate
recorded in 1980 will not be ex
ceeded any time in the next few
years,” he said.
But he cautioned that “de
ficits do matter” and that “the
prospect of large deficits in the
federal budget for many years
into the future and uncertainty
about the implications for in
Wed., October 19, 8 p.m.
G. Rollie White
Tickets: 6 50 ,6 ## , 5 50
MSC Box Office 845-1234
terest rates are factors one can
not avoid when thinking about
the outlook for the U.S. eco
nomy for the next few years.”
Jordan, who is now a profes
sor at the University of New
Mexico in Albuquerque, also
said the Federal Reserve has
adopted “very rapid monetary
growth targets for all of 1983-
Shuttle launch
date in doubt
United Press International
WASHINGTON — The
date for the next space shuttle
flight, carrying Europe’s in
strument-packed Spacelab,
was in doubt Thursday with
engineers trying to find the
cause of severe damage to a
rocket nozzle during the last
shuttle launch.
NASA spokesman David
Garrett said it may be several
days before project officials
decide whether the Oct. 28
laurlch date can be met, or
whether a delay to late
November or February is re
quired.
At the Kennedy Space
Center in Florida, engineers
proceeded with preparations
for launch in two weeks. The
crew for the mission partici
pated in the closing hours of a
60-hour mission simulation as
a final overall rehearsal for
flight.
The pilots, John Young
and Brewster Shaw, worked in
a shuttle trainer in Houston
and the four mission scientists
— Owen Garriott.Robeni
ker, Byron Lichtenberj,
Ulf Merbold — usedaSi
lab trainer at the Mai
Space Flight Center in
sville, Ala.
If engineers decidet( | .
place one of the boosterr
ets on the shuttle Coliit
now at the Cape Can# a.
launch pad, theshipwill
to be moved backtoitsas I |
'
bly building, delaying
shuttle launch until Not,;
later.
Ur
BA1
The next favorable bj"he
period begins Nov, 21,
launch then would means
of the 72 experimentsab he tir
over, t
n<
Spacelab would notaoj
acceptable data becans
seasonal changes. A lanni g am
February would solve
problem, but would cot
cate the shuttle schedule
add significant extra
the European Space A[
which has a stake in diet ompl
sion. ousn
JTf
doc, I
n
re she
any.
Me
Lawyers sure
sextapes exisf
on, t
tarn
3ru/
am s
linth-i
United Preaa Intematioaal
LOS ANGELES — Two more
lawyers are convinced the Vicki
Morgan “sex tapes” existed and
say the longtime mistress of
Alfred Bioomingdale may have
been murdered because of
them.
la
Arthur Barens and Charles
Mathews, who represent the
man accused of murdering Miss
Morgan, said Wednesday they
will produce three reliable wit
nesses to testify about the con
tents of the tapes at the trial of
Marvin Pancoast, who is
charged with murdering her.
They said the witnesses have
told them they watched
videotapes showing government
officials, Bioomingdale, the late
presidental confidant, and Miss
Me
Pancoast, 33, a forme;ioti fri
tal patient, has pleadeduiH in
and innocent by reasonofiiats C
ity to charges he beat MisslSi at
gan, 30, to death withabwnp
bat July 7 in the NorthiBre.
wood apartment they skB’hc
He is scheduled to stance: pi
Dec. 5. :asor
iotmt
Despite Pancoast’s staie'inirs
to police that he killed MiaBwi
gan, Barens says his diem ith tk
nocent and believes Mis at .(
gan was killed by someone ieni|>'
mg for the tapes. |But
dnlv i
“I believe that VickiMLc
was killed over those u^r tl
Barens said. ie 0
Attorney Robert Ste forld
who spoke to Pancoastifee
shortly after his arrest,crewit
national sensation July II Ijn t
organ in sexual activities.
‘tr
he claimed he and twoothtBen
er
"We now have reason to be
lieve the tapes existed," Barens
told UPI. “I don’t know if they
exist now but they certainly ex
isted at the time Vicki Morgan
was killed.”
Barens said the witnesses told
him the names of government
officials in the tapes but he re
fused to divulge them. He also
said he has subpoenaed the CIA,
FBI and Treasury Department
“for anything concerning mate
rials on Vicki Morgan, Eel Meese
or any other cabinet members or
officials, concerning anything
involving Alfred Bioomingdale
or anything involving taped
material.”
Barens said it was "an arbit
rary decision” to name Meese,
saying the presidential counse
lor was “the first name that came
to mind.”
identified people hadseeniered
videotapes showing top goWge
ment officials at “sex pathittc
with Bioomingdale andy
Morgan. “
The day after announci®;
had the tapes and wouldip®
them to President Re®
Steinberg said they ha
stolen from his Beverl)!
office. He was indictedl
county grand jury for fit®
false police report, pleadtil
nocent to the misdealt^*
charge and is schedule!
appear in court Friday to®
trial date.
Barens said he becameP
vinced the tapes existedaftfl
terviewing three “indepenB
witnesses — not including'
berg — who are afraid to®
forward now but will tesip
detail at Pancoast’s trial. [
“The statements that Iff
close questioning were idtl
so far as the alleged compol J;
of the tapes, who was on*
what they saw and their tin*
Barens said.
Serving
Luncheon Buffet
Sandwich and
Soup Bar |;
Mezzanine Floor
Sunday through Friday |
11 a.m. to 1:30 p.m. 1
*■
h
Delicious Food
^ Beautiful View
Open to the Public
t “Quality First”
l