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Devaluation
Wilson Offers ‘Dose’
To Prevent Bankruptcy
By JOSEPH W. GRIGG
LONDON (UPI) — British
Prime Minister Harold Wilson
today staked his Labor govern
ment on forcing Parliament to
swallow a massive dose of
Federal Reserve
Hikes Interest
By JOHN PIERSON
WASHINGTON (UPI) — The
U.S. government had its de
fenses ready today to guard the
stability of the dollar from the
pressures generated by Bri
tain’s devaluation of the pound
sterling.
The Federal Reserve Board
raised its discount rate Sunday
from 4 to 4.5 per cent to
prevent a massive outflow of
funds from New York to
London. The discount rate is the
rate of Interest banks have to
pay when they borrow from the
central bank.
An Increase in the discount
rate usually means increases in
other Interests rates. So, while
the FED’s move may keep “hot
money” in the United States, it
could also result in higher
borrowing costs for U.S. consu
mers and businessmen.
Meantime, moving to calm
financial markets everywhere,
Treasury Secretary Henry H.
Fowler said the United States
stood “firmly committed” to
joining with other countries in
maintaining a sound world
monetary system.
Fowler noted that “an over
whelming majority” of major
countries had not been panicked
into matching the British move
with devaluations of their own.
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money devaluation and austeri
ty to save Britain from
bankruptcy.
Wilson was expected to win a
vote of confidence at the end of
a three-day debate in the House
He reaffirmed the U.S.
commitment to keep buying and
selling gold at the existing price
of $35 an ounce. President
Johnson made the same state
ment, which means no devalua
tion of the dollar, shortly after
Britain devalued Saturday.
Fowler said that events of the
weekend had demonstrated "the
spirit of monetary cooperation"
created in the free world since
World War 11.
He noted that the internation
al monetary fund planned to
lend Britain *1.4 billion in a few
days and that a number of
central banks had pledged
Britain another *1.6 billion.
"The United States, with all
of its productive strength,
stands firmly committed to
joining with others in the
international task of maintain
ing a sound world monetary
system,” Fowler said.
But a Republican congress
man Charged that France and
the United States were in part
to blame for the crisis. Rep.
Thomas B. Curtis, R-Mo., said
the French wanted to under
mine the dollar by weakening
the pound, and that higher
interest rates in the United
States had threatened to pull
funds from Britain in recent
weeks.
of Commons over his cutting
the value of the pound sterling
from *2.80 to *2.40. The debate
was being opened with Wilson
making a major speech later
today.
The opposition conservative
party is bitterly opposed to the
devaluation. They blamed it on
Wilson’s socialism. "Disas
trous," said Edward Heath,
Conservative leader. But Con
servatives lack the xotes to
tumble Wilson.
Leftwingers and others in
Wilson’s Labor party opposed
Saturday’s announcement of
devaluation. Their Labor union
backers and others faced a
long, hard winter of higher
prices. But others were not
expected to rebel. Such a split
during the great depression
shattered the Labor party in
1931 for a decade.
Wilson was counting on this
and the traditional British stiff
upper lip to tide him over the
pound crisis and give him time
to usher in some prosperity
before the next general election
in 1970 or 1971.
Sir Winston Churchill offered
blood, sweat and tears in
rallying Britons in World War
11. Wilson in a national
television and radio speech
Sunday made a similar plea to
conquer the economic dangers
threatening Britain.
"This is a proud nation. We
have the chance now to break
out from the straitjacket on
these past years.
"We’re on our own now. It
means putting Britain first.
“Any who fails through
laziness or selfseeking, any who
frustrate the work of others by
unofficial strikes will Imperil
the right of all our people to
work, the right to work not only
for themselves but for the
nation,” said Wilson.
Wildcat strikes crippled much
British export trade recently. It
was the fact that Britain was
importing too much and export
ing too little that ate up British
money reserves, cut into world
confidence in the pound and
brought on the devaluation.
Wilson designed his order to
lower price tags on British
export products and thereby
give the nation an in-the-black
balance of trade.
Experts said a loaf of bread
would go up one or two cents
from 15 cents. A quart of milk
was expected to rise from a
dime to 11 or 12 cents. A gallon
of gasoline was expected to rise
to 70 cents from 67 cents. Meat
and butter prices were predict
ed to rise. The cost of all
imported goods would rise.
A
.’■<
Chlorine Drain
Under Way At
Newton, Ala.
By RANDOLPH PENDLETON
NEWTON, Ala. (UPl)—This
small town remained deserted
today while a special railroad
team prepared to drain chlorine
from a potentially explosive,
derailed tank car.
Seaboard Coast Line authori
ties termed the operation
"critical."
About 3,000 residents of a
three square mile area of
Newton were evacuated Satur
day night after 51 cars of a 116-
car freight train derailed at a
trestle over the Chocktahatchee
River.
Several tankcars containing
anhydrous ammonia caught fire
and fumes from the gas
overcame at least five persons.
They were not seriously hurt.
National Guardsmen, soldiers
and firemen had to wear gas
masks to fight the brushfires
around the track.
The train, en route from
Montgomery to Dothan, derailed
Saturday night as it moved over
a 75-foot high trestle and
approached a crossing.
Authorities said residents
would not be allowed back into
the area until today’s righting
of the derailed chlorine car and
draining off the liquid.
The Miami-to-Chicago stream
liner "South Wind” was due at
Newton several hours after the
derailment but a flurry of radio
messages stopped the passenger
train 40 miles from the burning
wreckage. After a delay, the
"South Wind" was rerouted
from Bainbridge, Ga., to
Montgomery. Seaboard officials
said Sunday it would take 32
hours to repair the tom track.
8.0. High, Seaboard’s trans
portation expert, said the cause
of the derailment was not
known immediately. Many of
the cars tumbled down a steep
embankment. At least two of
the tankers ruptured and burst
into flames. Other cars spewed
fertilizer across the cross ties
as added fuel.
Chalky white smoke boiled
from the fire and drifted south
where it could be seen Sunday
over the Florida panhandle, 30
miles away. Officials sent
helicopters into the smoke
Sunday in a continuing check
for chlorine fumes.
OLIVE GROVES DAMAGED
ATHENS (UPl)— a hurricane
swept through the olive groves
of Kalamata in southern Greeve,
uprooting or heavily damaging
10,000 of them and destroying
an estimated 40 per cent of the
region’s olive oil production, the
Greek news agency reported
Tuesday.
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Others Beckoned
Death Came
Unannounced
By RICHARR DILUCIANO
AKRON, Ohio (UPl)—Lights
beckoned honeymooners, trave
lers and convention delegates to
the plush Yankee Clipper Inn.
Death came unannounced.
Odorless carbon monoxide
fumes crept into Bruce and
Joan Flagman’s room, killing
him and leaving her uncon
scious on the first night of their
marriage.
Two sisters, Mary and Betty
Bishop of Elyria, Ohio, who
were taking a weekend holiday,
died as they slept.
Only quick action by police
prevented other deaths as the
fumes, emanating from a
defective swimming pool heater,
seeped into 100 rooms of the
200-unit structure early Sunday.
Fifty-Seven Hospitalized
Os the 57 victims taken to
hospitals, four remained today,
along with two deputy sheriffs
who became ill while adminis-
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Use Your Crouch’s Account
Crouch’s will be closed Wednesday afternoon and all day Thursday and Thanksgiving.
Motherhood
is a rnany-creatured thing, as these denizens of a
Miami seaquarium demonstrate. The paper nautilus,
or Argonaut, at left is at a very early stage of the
game—a lacy festoon of eggs emerging from her
I shell. Pride in offspring, as we know it, may not be a
factor here, but it appears to be below, where a smug
mama porpoise, Bebe, and baby daughter Gena look
I very happy for the camera.
■- ■HBHbKmsBRmkHMHSksSmK ' . ■ - j -'
tering mouth-to-mouth resusci
tation.
One of the patients was 21-
year-old Joan Flagman. She and
Bruce, 22, were married Satur
day morning in Cleveland, then
held a breakfast and a small
reception for friends and
neighbors.
Flagman had been discharged
from the Army a week ago.
Marine Cpl. Robert Heldlnger,
20, and his bride, Sue, 20, also
had been married Saturday
morning in Cleveland and then
drove to the inn.
Police awakened them Sunday
and ordered them to open
windows. "I went to the window
but couldn’t figure out how to
open it,” Mrs. Heldlnger said.
"The next thing I knew, I fell
down.”
She was released from the
hospital after oxygen treatment.
The Heldlngers checked out of
the inn.
Police chief Wallace Boers of
nearby Boston Heights ordered
the rooms evacuated and police
and motel employes began
knocking on doors, finding three
dead, some unconscious and
others ill.
Keeled Over
"They Just started coming
into the lobby and keeling
over,” Boers said.
In all, 200 guests, most of
them in pajamas and wrapped
in sheets were evacuated.
Deputy sheriff Sobert Metker
and Sargeant Robert Zarle were
admitted to St. Thomas when
they became, ill during the
rescue operations.
Motel spokesmen said the
heater for the round outdoor
swimming pool had been
checked earlier Saturday. They
said the heater, which was
located inside the building, was
still in use because guests
continued to swim in the pool.
Griffin Daily News
Monday, Nov. 20, 1967
Death Toll
Reaches Eight
In Georgia
By United Press International
An Atlanta youth was killed
when the car he was riding in
plunged off one expressway on
to another Sunday night, bring
ing the state’s accident death
toll to eight fatalities over the
weekend.
Wayne M. Mathis, 19, died
when the car driven by John
Leonard Tramell, 24, also of At
lanta, went out of control on
Interstate 20 and Jumped the
bridge guard rail over Inter
state 75. Tramell, who was se
riously injured, was charged
with manslaughter by Atlant*
police.
Mrs. Amelia Jackson, 67, was
struck and killed by a car when
she stepped onto U. S. 82 Sun
day night. The state patrol said
the Sylvester woman was killed
on the highway four miles west
of her home.
Johnny Brawnlee, 16, of Law
renceville died early Sunday
when his ear struck a utility
pole and careened Into a tree.
Authorities said the youth’s car
was travelling at a high rate of
speed when it went out of con
trol in Lawrenceville.
A two-car headon crash near
Canton on Ga. 5 took the life
of Earl Stanley Poole of Can
ton. Two others were Injured
seriously in the crash early
Sunday. Shortly afterwards,
Glenn Franklin Conley, 31, of
Milan was killed on Ga. 132
west of Mcßae. Authorities said
the car went out of control after
failing to make a curve.
Frank Morgan, 25, of Bowden
was killed on Ga. 166 near
Bowden when a car in which
he was riding attempted to pass
a car and struck another head
on. Three others were injured
in the mishap Sunday morning.
Nola Annette Hesters, 2, of
Valdosta, was struck and killed
while playing on Ga. 31 just out
side of Valdosta.
A Colquitt woman, Mrs. Car
la Powell Humphrey, 65, burned
to death in her car after being
struck from the rear by anoth
er car. The state patrol said
the woman was trapped after
her car caught fire Saturday
night on Cooktown - Bainbridge
Road.
The temperature has hovered in
the 50s and 60s here in recent
weeks.
16