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ilanrljpatpr lEuptiing U m lJi MANCHESTER, CONN., MONDAY, JANUARY 27, 1975 — VOL. XCIV, No. 99 Manchester—A City of Village Charm EIGHTEEN PAGES PKK i;: 1 11'n;i;,N c i ;m s Balance of Trade Deficit Blamed on Oil Imports r ( . WASHINGTON (UPI) - Expensive billion barrels, down from 2.307 billion in generating machinery. such as food more expensive for foreign oil pushed the U.S. balance of 1973. The trade deficit of $3,065 billion in 1974 Americans. trade $3,065 billion into deficit in 1974, the Imports Increase was the second largest on record this cen­ ’The devalued dollar, however, turned second worst year on record this century, Overall, the United States imported $101 tury, Commerce said. The previous worse the trade deficit into surplus in 1973 which the Commerce Department said today. billion in 1974, a 45 per cent increase over trade showing was a $6.4 billion deficit in ordinarily would indicate good times for Commerce said the United States im­ 1973 imports of $69.5 billion. Exports for 1972. Americans in 1974. But the unexpected and ported less oil in 1974, but the cost soared 1974 were valued at $97.9 billion, up 38 per Third in Four Years unprecedented surge in petroleum prices from $7.8 billion in 1973 to $24.6 billion in cent from the 1973 total of $70.8 billion. The 1974 deficit was the third in four wiped out the gains made through the 1974. The balance of trade for December was years. dollar devaluations. Without the $16.8 billion surge in oil $606 million in deficit, largely because of Trade deficits in 1971 and 1972 led to Commerce said the merchandise trade pieces, the United States would have declining export values of coal, wheat, dollar devaluations, which spurred deficit in the fourth quarter of 1974 was es­ enjoyed one of its largest trade surpluses soybeans, electrical computers and power domestic inflation and made many goods timated at $1.5 billion, down sharply from in history. Oil imports for 1974 were 2.228 the record $2.6 billion in the third quarter. Deficit Narrowed Although trade was still in the red in the fourth quarter. Commerce said higher Wildcat Strikes Disrupt Trains prices for U.S farm products helped to narrow the deficit from the previous CHICAGO (UPI) — A wildcat strike ear­ headquarters. Burlington officials Brotherhood of Railway Carmen of the quarter. ly today by four shop unions against the predicted normal operations by midmor­ U.S. and Canada; International Another reason for the improving trade Burlin^n Northern Railroad temporarily ning. Brotherhood of Electrical Workers; the picture in the fourth quarter was a 50 per disrupted traffic on the nation’s largest “ Good news,” Burlington spokesman Brotherhood of Boilermakers, Ironship cent increase in the value of civilian air­ rail system. Peter Briggs said in Chicago. "The Builders, Blacksmiths, Forgers and craft sold abroad. The narrowing trade A court order restored some commuter pickets are down at Aurora (111.). We’re Helpers, and the International deficit in the fourth quarter of 1974 is an service in the Chicago area. But the strike resuming suburban operations this morn­ Brotherhood of Firemen and Oilers, indication that international trade deficits spread to two other railroads, the ing.” Helpers, Roundhouse and Railway Shop may decline considerably in 1975. Ciiesapeake and Ohio and the Louisville Laborers. and Nashville lines. A C&O spokesman Hastily Called said the wildcat strike threatened to shut The strike, which apparently resulted down service in Michigan and an L&N from a breakoff of talks between one of ^ \ spokesman said 2,800 members of the four the unions and Burlington officials in St. unions were out and even clerks were not Paul, Minn., had threatened rail service crossing picket lines. along Burlington’s lines, the longest in Oil Exporting Nations mileage in the nation. Pickets Withdraw ’The strike, hastily called Sunday night Union pickets began withdrawing in the by angry union officials, inconvenienced Agree to Energy Talks Chicago area after the court order was many of the railroad’s 23,000 commuters signed in the home of U.S. District Court in 12 Chicago suburbs, and threatened to — would raise the possibility of a clash Anniversary Judge Joseph Sam Perry. The order disrupt the operation of the railroad’s 45,- ALGIERS (UPI) — The oil-exporting ‘Peace’ nations have agreed to take part in energy with the industrialized West. restrained workers from striking until 6 000 employes and the movement of talks with industrial and developing coun­ a.m. Feb. 5 and set a hearing Feb. 3. passengers and freight in 19 states and two Direct Confrontation Two years ago, Secretary of State Henry Kissinger surveyed the quarter- tries, setting the stage for a possible con­ A similar restraining order was ob­ Canadian provinces. “It will be a direct confrontation century of conflict in Vietnam and said: "peace is at hand,” but peace is as tained at the company’s St. Paul, Minn., frontation between the West and the Third between the have and the have-nots with elusive as ever on the second anniversary of the Jan. 27,1973 cease-fire agree­ The striking unions were the World. OPEC championing the ’Third World,” one ment. Here, a young wife mourns at the grave of her soldier husband, killed ’The Organization of Petroleum Expor­ Western diplomat said. during recent Communist offensive, as some of his fighting buddies look on. ting Countries ended a three-day meeting The oil, finance and foreign ministers of (UPI photo) Resolution to Request in Algeria Sunday by rejecting a U.S. call the OPEC nations also attacked Western for limiting the oil talks to the producing “threats” and “propaganda” against the nations and the industrial powers. petroleum nations. The 13 OPEC nations issued a com­ The OPEC states — Abu Dhabi, Algeria, Rev-Share Allocation munique endorsing a French proposal for Ecuador, Gabon, Indonesia, Iran, Iraq, Vietnam War a broad international energy conference Kuwait, Libya, Nigeria, Qatar, Saudia Continues By SOL R. COHEN dividual towns to help citizens over a dif­ involving the oil states, industrial nations Arabia and Venezuela — said the world The m in o rity R e p u b lic a n s on ficult economic period. and developing countries. economic crisis “ constitutes a growing Despite Paris Manchester’s Board of Directors are “ This is especially true in Manchester The communique said OPEC nations threat to world peace and stability.” Accords proposing a resolution, which urges Gov. where both the mayor and town manager “ intend to participate in an international But the communique condemn^ “ the Ella Grasso to “ grant the towns and cities have predicted a six- to seven-mill tax in­ conference, such as the one proposed by propaganda campaign placing on OPEC’s the country’s secondary roads and en- of the state their fair share of the an­ crease in the upcoming town budget.” France, which would treat problems of member countries the responsibility for SAIGON (UPI) — Two years ago. ngered a second province. ticipated $25 million in federal revenue­ Said Thompson, “ I think what is being raw materials and development.” this crisis as well as threats directed at Secretary of State Henry Kissinger sur­ The fighting has closed in on Saigon, sharing funds.” requested is, at least on the surface, Western diplomats said the admission of these countries which create confusion veyed the quarter-century of conflict in threatening the city’s defense line at one ’The proposed action follows a statement astute politics. It is a call to a Democratic the Third World — the developing nations and lead to confrontation.” Vietnam and said: “ Peace is at hand.” time. North Vietnamese troops seized last week by Gov. Grasso, saying she candidate to hold to her campaign Common Front Meets Set ’The U.S. diplomat, who won a Nobel three bases 25 miles north of the capital. plans to hold back those funds because of a promises — and I think that’s fair. The OPEC nations, which provide 85 per Peace Prize for his efforts to end the war, The Saigon military command has pending state deficit. One of her campaign “ At the same time, I believe Gov. cent of the world’s oil exports, also ap­ wasn’t much of a prophet. Peace is as reported more than 111,(X)0 Communist promises was to release the $25 million to elusive as ever on the second anniversary Grasso has made it clear to the state’s proved plans for a summit meeting of oil- soldiers and nearly 29,(KX) government the towns and cities. mayors, at a meeting I attended, in her INSIDE producing heads of state between Feb. 21 of the Jan. 27,1973, cease-fire agreement. troops killed in combat during the past two Mayor John Thompson, who has been Frustration and death have marked the judgment the financial situation of the and March 8 to prepare a common front years. Another 115,000 government asked to place the resolution on the state at this time is far more serious than 24 months since the secretary of state and TODAY for the conference. soldiers have been wounded. board’s Feb. 4 agenda, said he will do so. the previous administration reported. North Vietnamese negotiator Le Due Tho Jamshid Amouzegar, Iran’s chief The “ postwar” fighting has claimed the Thompson, a Democrat, said he will vote “ (Consequently, she didn’t believe it delegate to the Algiers meeting, predicted worked out the accord in Paris. lives of more than 6,000 civilians and for the resolution and believes most local possible to release these funds as a pass­ Forum of the A rts...................

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