Prices Rise 1% in July the Recent Hike in the Discount and Federal Funds Rate to Help the Analysis of Inflation That Directly All Year
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Third Soviet Dancer ThaVs Entertainment Dairy Queen Triumphs Message to Feds Clear: Defects to America The American Dream In Softball Tournament Mind Your Own Business Page 11 Page 14 Page 2 Page 7 ilanrliPBtfr C lo u d y, H u m id; Sh ow e rs Lik e ly DaUII* on pago 2 The Economy • A Family NEWSp aper Since 1861 • 20$ Single Copy • 15t Home Delivered Vol. XCVIII, No. 276 — Manchester. Conn., Friday, August 24, 1979 >rK York: A study released Thursday has shown most cor- porate finance officials think the growing role of banks, insurance companies and other institutions in the stock market is unhealthy. » H York: Europeans think Prices Rise 1% in July the recent hike in the discount and federal funds rate to help the analysis of inflation that directly all year. But if inflation finishes the year at • Food and beverages edged up- WASHINGTON (UPI) - The administration has predicted its current level, it would be the ward by only 0.1 percent following a dollar are "window dressing" and Americans got no relief from op- affects the wallets of all Americans. they're not buying the idea, says a The pump price of gasoline has inflation will finish the year at about worst dose of rising prices since the similar 0.2 percent increase in June. pressive inflation last month as con- 11 percent. But most economists say end of World War II. • Transporation costs jumped 1.8 top investment adviser. sumer prices shot up another 1 gone up a whopping 42 percent in the »w York: A beef price past 12 months, the department said. even that gloomy projection is con- The Labor Department said its percent, mainly due to higher prices percent.the government reported servative unless improvement begins price index for all urban consumers for gasoline and new cars. That in- decline and price rollbacks by two today. Once again, energy and The overall 1 percent boost was fast-food giants — McDonald's identical to the June increase and soon. stood at 218.9 in July. That means dex, which has now posted nine housing costs registered large gains Three days ago. President Carter goods and services which cost 8100 in straight months of large increases, I and the Marriott Corp. — is in July but shoppers benefitted from meant that inflation at the consumer fueling speculation there is a level has now climbed at an annual told an Iowa radio audience he 1967 w ere priced a t 8218.90 las t has risen by 16 percent over the past moderating food prices. thought Americans would see "the month. year. I hamburger price war in the Gasoline prices at the pump soared rate of 13.1 percent during the first making. seven months of 1979. inflation rate turning around and Here is a rundown of consumer • Housing costs rose 1.2 percent, by 5 percent while fuel oil costs ad- start going down again” by the end of prices in various categories during the sixth straight double-digit ad- New York: The stock market's vanced 6.2 percent, the Labor Monthly gains have ranged the year. July: vance. I summer rally stalled for the third Department said in its monthly between 0.9 percent and 1.2 percent I consecutive day Thursday with I the Dow Jones Industrial average skidding 5.46 points to 880.38 in ac- tive trading. Apartment Complex CIrvrIand: Cleveland is teetering on the brink of its se- cond default in nine months. The City Council refused Thursday for the second time in two days to refinance short-term notes held To Go Condominium by the city's waterworks con- Most Beechwood residents were to build a house but if he hadn't, he stniction fund. By LANEY ZUBOFF taken by surprise at the tenants said, he and his wife would have Drlroii: Rep. John Dingell, D- Herald Reporter bought the condominium. “They're Mich, chairman of the House Sub- meetings. But. though some' find the MANCHESTER - For the first decision an inconvenience there is lit- bending over backward to help comittee on Energy, said he felt tenants get mortgages,” said Shillo. Chrysler Corp. would need time in Manchester housing history tle evidence that any tenants are an apartment complex will be con- very angered. He said as far as he knew none of the between $1 billion to 83 billion in other tenants were particularly upset various subsidies, far more than v ert^ into condominiums, following One Beechwood resident said after a state-wide trend, which forces she had sold her house, "I never about the change. the 8500,000 in loan guarantees the Paulette Dekie said “I'm definate- government appears to favor. renters to take one of two options; wanted to buy again.” Carol Malken- buy or move out, son said now that she is cornered into ly thinking about buying. Rents are 'i William Peck, trustee, Gladys a decision"! have no intention of so high that a mortgage isn't that Energy Update Peck and Margery Gussak made up moving. I like the place, what are much higher. There's nothing we can do about it. They're not kicking \4a«hingion: Harold Denton, Romar Associates and formed the you going to do?” joint ownership of the 32-unit Ms. Malkenson said the thing she is anyone out,” she said. the unflappable Nuclear One woman, who wanted to remain Regulatory Commission trouble- Beechwood housing complex, located most disturbed about is the high shooter at Three Mile Island, was on Highland Street, which, until mortgage interest rates. forced Thursday to withdraw his recently has existed as apartment Another resident, Carl Shillo, said See Page Ten plan to resume licensing reviews rentals. he had already made a committment for new atomic reacton. The units, which were built if) 1972, Surry,Va.: Nuclear are now condominiums for sale, with Regulato^ Commission officials the paperwork and necessary say they are reviewing a private documents on field at town hall since EPA Halts 1-84, firm's claim that there would be August 21. Tenants were notified the “no significant problem" even if a same day, though they had expected defective, radioactive 220-ton it, having been told at a tenants generator breaks in half or falls meeting a month ago. Pollution Likely overboard during shipment. Why would the owners decide to Orono, Maine: Energy make the conversion to become the HARTFORD (UPI) - A proposed spills; increasing road runoff, in- Beechwood Condominium 8160 million interstate highway cluding de-icing chemicals; stress experts say there is enough peat in the United States to produce Association? between Hartford and Providence, from development along the highway the energy generated by 240 Keeping Them Laughing “There's a financiai benefit,” said R.L, could pollute a major resevoir corridor, and siltation during con- billion barrels of oil. David Gussak, the association's at- which supplies water to half the struction. Hartford's Mayor George Athanson, along with most of torney and husband of Margery residents of Rhode Island, a U.S. En- “I must express my opposition to I- Expulsion OK those in attendance, were kept in stitches as Muhammad AH Gussak. vironmental Protection Agency of- 84 or any other major highway con- arrived in town for a two-day visit. The former heavyweight The association stands to collect a ficial warns. struction in the proposed northern healthy profit. The 32 units will be ALEXANDRIA, Va. (UPI) - boxing champion was given a hero’s welcome by Hartford’s William R. Adams Jr., EPA's New corridor through the watershed. This priced between the mid-840,(XX) range opposition extends to any Connec- U.S. District Judge Oren Lewis black community but a stop at Connecticut’s Veteran’s Home England regional administrator, said ruled Thursday that Alek Lee to the lower 850,(XX) range. Thursday he wiil recommend to the ticut portion of 1-84 which, if im- Bledsoe, a fundamentalist Baptist was canceled because he refused to be drafted a decade ago. "My experi'ence shows this (apart- federal Council on Environmental plemented, would significantly in- preacher and principal of Story on page 2. (UPI photo)' ment conversion) is a very hot trend Quality that construction of the 50- crease the number of vehicles, es- Marumsco Christian School, had in real estate. I hear rumors that this mile stretch of roadway be halted un- pecially trucks carrying hazardous the constitutional right to expel will not be the last conversion in til "an environmentally sound materials through the Scituate Melissa Feidler, 14, because of his Manchester," said Gussak. solution” can be found to protect the watershed,” the letter said. suspicions she was romantically Each existing tenant will have the Scituate Reservoir in central Rhode Adams said many New England Labor Day Gas first change to purchase their proper- drinking water supplies had been involved with a black youth Island. Rufus Bostic III, also 14. ty, as the state statute requires, He said the potential health contaminated by spills, dumps and Lewis, at 76, one of the most within a specified time fram. hazards posed by the present route urbanization and it was his duty to controversial federal judges, said The Beechwood tenants have 30 outweigh whatever benefits the do as much as I possibly can to guard in his ruling, "The door of the free Easier to Get days to make their decisions and 60 highway would mean for motorists against the potential of these threats, exercise ciause of the First days to move out if they decide not to and the area's economy.