Newspaper Page Text
Study shows some firms
reaping bloated profits
By WILLIAM B. MEAD
I WASHINGTON (UPI)—A con
fidential government study of
■()() leading industries estimates
shat lack of competition causes
■lie firms involved to reap
floated profits and waste
fillions of dollars a year
fhrough inefficient operation.
I The Federal Trade Commis
sion (FTC) study has been
Sited frequently by presidential
f opeful Sen. George S. Mc
flovern, D-S.D., who said the
■Price Commission should freeze
fall prices until the study is
Snade public.
| But G. Meyer, the
■FTC official who directed the
Study, told UPI McGovern
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misused the statistics by
interpreting from them that
prices are inflated by more
than sls billion a year.
“The figures can’t be used
the way he is using them,”
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BRISBANE, Australia-John Fairfax and girl friend Sylvia Cook, relax in department store after
selecting some new clothes at the store’s expense. The couple landed on the resort island of
Hayman off the central Queenland coast after rowing 8,000 miles across the Pacific Ocean.
Meyer said. The FTC’s figures
on excess profits and waste, he
said, were only “rough esti
mates,” far too inaccurate to
be translated into realistic
estimates to excess pricing.
Judges study
jammed dockets
SAVANNAH, Ga. (UPI)-
Chief Judge John Brown of the
U. S. sth Circuit says that
“lack of finality” in criminal
convictions has become a mat
ter of great public concern.
Brown, of Houston, said judg
es of the circuit, meeting here
for their annual judicial confer
ence, are studying the ways of
improving the court system.
“Criminal cases concern 40
per cent of the business of the
courts,” Brown said Monday as
the 93 appeals court and feder
al district judges opened their
week-long meeting. Some dis
trict attorneys also are attend
ing the sessions.
Brown said the federal court
dockets had quadrupled in re
cent years from an average of
600 to 2,600 cases annually.
The first two days of the
meeting will be closed as the
judges ponder policy matters
relating to the administration
and operation of the courts.
But sessions starting Wednes
day will be open and Brown
said the appeals court would
consider some cases en banc
Meyer declined to provide a
copy of the study, but UPI
obtained one from other sour
ces. The study did not make the
excess price estimates cited by
McGovern, but it did provide
with all the judges sitting in.
Those will be cases requiring
no oral arguments.
The sth Circuit includes Ala
bama, Georgia, Florida, Louisi
ana, Mississippi and Texas.
Fulfills desire
NANTES, France (UPI)-
Two cops were on their beat
March 9 when suddenly Roland
Garnier, 19, walked up and
demanded to see their identity
papers.
The police hustled him off to
jail.
The judge fined Gamier $32
Monday despite his explanation,
“It was a secret desire I
always had. Usually it’s the
police who demand to see
identity cards.”
ROME—Spain’s Prince Alfonso de Bordon-Dampierre and
his bride, the former Maria Carmen Martinez Bordiu-
Franco, granddaughter of Spanish Chief-of-state
Generalissimo Francisco Franco, arrive in Rome for a two
day honeymoon visit. The couple has scheduled an audience
with Pope Paul VI. (UPI)
Soviet fleet granted
facilities by Egypt
CAIRO (UPl)—Egypt ack
nowledged for the first time
Monday it has granted facilities
to the Soviet Fleet in the
Mediterranean. It said it
notified the United States in
advance of its decision.
President Anwar Sadat made
the announcement at a meeting
with journalists and political
leaders before his departure
later this week to the Soviet
Union, where he is expected to
seek more hardware for the
Egyptian war machine.
Sadat said previously that
Egypt has granted facilities
“that serve our interests” to
the Soviets. But he specified the
nature of those facilities for the
first time Monday and revealed
that Washington was notified in
advance.
“When I sent word to
data on estimated excess
profits and waste from which
the South Dakota senator
computed his estimates.
The study concluded that
concentrated industries—ones
controlled by a few firms—not
only waste more money and
make more, but also adopt the
“deception” of hiding some
excess profits through book
keeping ploys.
“We expect both waste and
deception to be relatively more
serious the higher the concen
tration,” the study said. “When
concentration is very low, the
industry is competitive.
“As concentration increases,
the opportunities for waste and
the motivation toward decep
tion both increase, since the
true profit margin increases.”
In Ulster
Baby carriage used
to haul explosives
BELFAST, Northern Ireland
(UPl)—Gunmen using a baby
carriage filled with gelignite
bombed Northern Ireland’s
main telephone exchange dur
ing the night then opened fire
on British troops trying to
evacuate 70 telephone operators
and other persons from the
building.
Snipers fired at troops when
they arrived to try to clear
persons from the telephone
exchange in case there were
more blasts. The soldiers fired
back and hit one sniper.
The building was cleared but
operators later returned to
their switchboards. Seconds
before the explosion, the
operators and other workers
dashed into rear rooms.
“It seemed only a few
seconds later that all the
windows blew in and the whole
room and all our equipment
was covered in dust,” said
Ralph Adams, manager of the
telephone exchange.
“There was no panic although
glass was flying across the
switchboard room.”
A British soldier shot through
the throat by a sniper Friday
died today, with his wife and
father at his bedside.
The carriage exploded in a
sheet of flames shortly before
midnight Monday outside the
President Nixon that 1 will give
facilities to the Soviets in the
Mediterranean,” Sadat said,
“he wrote back, saying ‘I am
not seeking your friendship at
the expense of others and I
know full well that you are an
independent country and no
power has the right to interfere
in your affairs.’”
The Kremlin visit, to begin
Wednesday or Thursday and
expected to last two or three
days, is necessary to review the
Arab-Israeli conflict with Soviet
leaders prior to Nixon’s Mos
cow visit next May, Sadat said.
He said he was making the
Moscow visit prior to the U.S.-
Soviet summit conference “be
cause the Middle East issue
will, of course, be the subject
of discussion between Soviet
leaders and Nixon.”
■-— r
THE VIEW IS SPECTACULAR everywhere in Hong Kong, but nowhere more so
than high above the high-rise city of Victoria. Pictured is the water-oriented city’s
newest means of transportation, a helicopter ferry from Hong Kong island to Kai
Tak Airport on the mainland.
Belfast telephone exchange,
injuring two British soldiers
and a civilian and toppling part
of a wall of the seven-story
brown brick building.
An army spokesman said the
two soldiers sustained leg and
arm injuries when the blast
hurled them several yards into
the road as they were
hammering on the building’s
oak doors in an attempt to
warn those inside of the bomb.
The injured civilian was a
telephone engineer on duty
inside the building, which
stands near the city hall and
(he Roman Catholic Markets
area, where troops killed Joe
McCann, an Irish Republican
Armyn(lßA) leader, a week
ago.
The spokesman said more
injuries were apparently avoid
ed by quick-thinking soldiers on
a patrol.
When troops in an armored
patrol car spotted the baby
carriage abandoned near the
entrance to the telephone
exchange, they drove onto the
pavement and used their
| Quirks |
NO SNACKS PLEASE
SANTA CRUZ, Calif. (UPI)—
Inmates at the Santa Cruz
County jail can use a pay
telephone every day, but they
can’t count on ordering evening
snacks.
A pizza parlor called the jail
Sunday night to verify an order
for delivery of three large
pizzas for jail tank number
three.
THAT’S A NO-NO
DONCATER, England (UPI)
—Judges at a local cat show
claim housewife Betty Beach
doctored her Siamese cat’s eye
with mascara before entering
the animal in the show.
Show officials said clipping
from around the cat’s eye have
been sent to a laboratory for
analysis. Mrs. Beach declined
to comment.
PUBLIC AUTO AUCTION
To Be Held By Griffin Police Department on Impounded Vehicles. Sale to start 10:00
A.M. Friday April 28,1972, these vehicles offered for sale to junk dealers only.
Place: City Garage located at Camp Northern.
Vehicles can be seen from 10:00 A.M. to 4:00 P.M. Monday April 24, 1972, thru Thursday
April 27, 1972.
ALL SALES CASH, Vehicles sold to highest bidder.
Description as follows*,
1.1962 Mercury Comet 2 Dr. Tan
2. 1957 Chevrolet 2 Dr. Green
3. 1959 Mercury 4 Dr. Yellow
4. 1957 Ford 2 Dr. Cr. & Tan
5. 1964 Ford 4 Dr. White
6. 1959 Ford 2 Dr. Black
7. 1965 Ford 4 Dr. White
8. 1960 Chevrolet 2 Dr. Blue
9. 1963 Ford 2 Dr. Tan
10. 1963 Chevrolet 4 Dr. Gr.-White
11. 1951 Chevrolet 2 Dr. Blue
12. 1962 Station Wagon 4 Dr. White
13. 1956 Mercury Blk.-White
14. 1965 International Van White
15. 1962 Chevrolet Nova 2 Dr. Red
17. 1957 Chevrolet 4 Dr. Black
18. 1962 Chevrolet 2 Dr. White
19. 1953 Ford 4 Dr. Green
20. 1966 Pontiac GTO 2 Dr. White
21. 1959 Ford 2 Dr. Tan
22. 1961 Ford 4 Dr. Gn.-White
23. 1956 Chevrolet 4 Dr. Blue
Griffin Daily News Tuesday/ April 25, 1972
Page 9
vehicle to push the carriage
away from the door.
Then two soldiers jumped
from the vehicle and began
pounding on the bolted doors to
the exchange, shouting “bomb!
bomb!” The gelignite, explod
ed three minutes later. The
spokesman said there was no
time to evacuate the building
but those inside were able to
take cover before the blast.
The army said it was the
first time gunmen have at
tempted to bomb the building,
which controls most telephone
communications within North
ern Ireland. The blast caused
little damage to equipment
inside the building and tele
phone services within the
province continued to work
normally.
In other scattered violence
Monday, British troops ex
changed fire with snipers who
opened up on an army post
near the Catholic Bogside
district of Londonderry. A land
mine exploded in the Foyle
Road area of Londonderry
Monday night, injuring two
British soldiers.
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Crushed shoes
SANTA CRUZ, Canary Is
lands (UPl)—The inhabitants of
a house which collapsed es
caped unhurt, police reported,
but 3,000 pairs of shoes stored
in the basement were crushed.
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