Ease Federal Spending to Lower Interest Rogers Starts Tour of African
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BOCA RATON NEWS Vol. 15, No. 45 Sunday, Feb. 8, 1970 34 Pages 10 Cents Four still in council race City runoff gathering steam ByPETEPEPINSKY questions, give short speeches and authorizing the bonds in the City estimates that the interest rate will be the same in each of the precincts, because the people decided that one coming on the strongest in the west year ago. I favored the sewer As the runoff City Council race respond to queries from the floor. Council, wait-out a 30-day period after the neighborhood of 7 per cent, but this The voters will not be concerned the court decision for possible appeals, could change with market fluc- central area of town. treatment plant expansion but I just gathers steam, the four remaining "I didn't have the money that two of planned to go along with the people," candidates show a joint concern: each with the bond referendum issues, since and then take three or four weeks for tuations. their passage Feb. 3 was final. Right printing and delivery to the New York Wallin, Honchell, Moore and Sloane the candidates had to spend," Sloane he explained. wants to see a greater voter turn-out stated. "People were just grasping for for the Feb. 17 balloting. now, the city is awaiting the April 24 bond market. finished one through four in the Some of Sloane's main concerns are "primary" voting . Out of the names and pictures. I'm going to have the approval of the Milo Smith Plan, A t least one local group has planned Circuit Court validation hearing and The bonds will be sold on a bidding decision. system which differs proeedurally eight city precincts, Honchell was high to get up some money to get my issues for the benefit of homeowners and a runoff forum for candidates Tore across," he added. developers, aerial fire equipment, and Wallin, Pat Honchell, Bill Moore and The bonds will not actually be sold from the regular city purchasing bids. vote-getter in four, Wallin in three, and until July or August of this year, The buyer who offers the lowest in- Moore in one. Sloane mentioned that his platform another fire station in the vicinity of Earl Sloane. The Boca Raton Jaycees has not changed since the passage of 51st Street to lower insurance rates have tentatively set this Thursday because the city must set up bids for a terest rate for repayment of the bond Earl Sloane, 69, a member of the bond attorney and financial con- debt will be offered the purchase. Planning and Zoning Bord, who polled the two bond issues. and provide adequate protection to night as the date for a gathering of the "I never talked about the outfall candidates to answer prepared sultant, draw up an ordinance City Finance Director Tom Mullen 1,071 votes, feels that he fared about (Continued on Page 7A) Burns says YOUR DAY A 97D FEBRUARY 197O Ease federal M T W T 23 4 5 S 7 ] 9 10 11 12 13 14 > 16 17 18 19 20 21 22 23 24 25 26 27 28 spending to Son of Chico lower interest WASHINGTON (UPI)—The new crease the money available for chairman of the Federal Reserve mortgages. Board said today that holding Although Burns said it would be returns government spending in check will proper to permit banks to use mor- clear the way for relaxation of the tgage paper as collateral for regular "tight money" policy which has loans from the Federal Reserve Father and son will square off pushed interest rates to record levels. system, he opposed legislation against each other in polo here Dr. Arthur F. Burns also said the requiring the Central Bank to advance Sunday afternoon at 3 o'clock. Federal Reserve is studying new ways money directly to mortgage lenders. Harold Barry, one of the top- to relieve the pressure of credit Burns also urged the 21 states and ranked players in the nation, will restrictions on housing "without im- the District of Columbia that impose be riding on the Milwaukee team. pairing the use of monetary policy in ceilings of 8 per cent or less on home His son, Joe, will ride for Boca achieving national economic ob- mortgages either to raise or eliminate Raton. Rated at six goals, Joe jectives." the restrictions. can hold his own in any company. But "::«> nog,! -'• A direct loans from "Although these limitations were President Nixon sends Secretary of State Rogers on a ten-cation tour of Africa Saturday morning. (UPI Telephoto) IBM will be honored with about the nation's Central Bank to the originally designed to protect 2,000 employes expected to turn mortgage market. borrowers, we shorn recognize that out for the game. In testimony prepared for the House economic conditions change and that Banking Committee, Burns, who was interest rate ceilings that are below appointed by President Nixon, said: the market operate and practice to Rogers starts tour "It will be vital to preserve the taut discriminate against borrowers by fiscal position outlined in the ad- denying them access to sources of Quick facts ministration's budget." credit available at going market Nixon's $200.8 billion spending, rates," he said. proposal for the next fiscal year shows Weather: Cloudy and mild of African countries a projected surplus of $1.3 billion. through Sunday Sixty per cent Nixon said last week the ad- One lost chance of rain Saturday, ministration was determined to keep dropping to thirty per cent WASHINGTON (UPI) -Secretary people and the 43 countries—to the Ethiopia and headquarters of the the budget in the black to permit the Sunday. High Friday was XX, of State William P. Rogers flew to future of the world, its peace, its Organization for African Unity. Federal Reserve to ease its monetary low Saturday morning XX. Morocco today for the beginning of a prosperity," Nixon said. restrictions. There has been almost no in crash A High Sunday 70, low Saturday location African tour to gather in- Rogers and his party left Andrews Rogers has scheduled only 24 hours growth in the nation's overall money night 60. Noon Saturday XX, formation for a new Nixon adminis- AFB at 9:10 a.m. EST. He is scheduled in troubled Nigeria, whose federal supply since the middle of last year Boating: Seas 5-6 feet, large tration policy on Africa. to reach Rabat this evening ( 4 p.m. government has just quelled a lengthy and Nixon said that if the policy is not of plane ground swells offshore. President Nixon said during a brief EST). Biafra revolt and is under some eased soon, there is danger of a Inland waters will have a White House sendoff ceremony that criticism for the manner in which it recession. Rogers' visit, the first of a secretary of In addition to Morocco, Rogers will has handled international relief Burns agreed thai homebuilding WEST PALM BEACH, Fla. (UPI) — light to moderate chop, in- visit Tunisia, Ethiopia, Kenya, A plane headed for Palm Beach from creasing Saturday afternoon. state to "black Africa," demonstrates shipments. suffered more than most of the the "enormous importance" this Zambia, the Congo, Cameroon, Rogers is due back in Washington economy under last year's extremely the Bahamas fell 20 miles short of its Winds NNE 10-18 mph. Small Nigeria, Ghana and Liberia. destination Friday and only three of craft should exercise caution. country places on Africa. Feb. 23 after an overnight rest stop at tight credit conditions. He said he Rogers is to report to the President Accompanying him are Mrs. Aruba, just off the Venezuelan coast. would favor new approaches to in- the four aboard were rescued from the High tide Saturday 9:12 p.m., Rogers, State Department officials ocean. low tide 3:06 p.m. High tides and the National Security Council on his return. His report will be the basis and a dozen American newsmen, three Names of the three survivors and the Sunday 9:36 a.m. and 10:06 of them representing black victim were not known. p.m. Low Tides Sunday 3:24 for a statement of U.S. policy in Africa that Nixon will make in March. publications in the United States. Cigaret tax shows The Coast Guard said the plane was a.m. and 3:54 p.m. on a return flight from Nassau to Fishing: It's generally agreed In a brief statement before leaving, "Black Africa" is the region south of Rogers said one purpose of the trip was Cedar Rapids, Iowa, when it dived into that the salt water fishing is the Sahara Desert in which a large the ocean about nine miles east of pretty miserable, but if you to show the interest of the United number of newly independent nations States in Africa. He said he was increase over '69 Delray Beach. can get over to Okeechobee, are struggling with a variety of A helicopter picked up two of the the bass are really going for anxious to hear from the African economic and political problems. leaders how the United States might Boca Raton will receive a whopping large however, when compared to the survivors who were in a life raft and worms and weedless spoons. later—after battling darkness and Television: "The Train" with better its relations with them. The tour is expected to be the usual $37,020.34 cigarette tax refund from statewide collection total of "On my return I will report to the "low-keyed" Rogers operation, in the state this month of February.