Newspaper Page Text
Page 6
Griffin Daily News Monday, April 12,1976
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WASHINGTON—Carrying palm leaves, President and
Mrs. Ford leave St. Johns Episcopal Church after
attending Palm Sunday services. The President returned
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Palm Sunday worship
to the White House to catch up on paperwork and relax
after two days of campaigning In Texas. (UPI)
Lockheed
rift report
denied
BURBANK, Calif. (UPI) -
The chairman of beleaguered
Lockheed Aircraft says a
financial restructuring
program to be presented next
summer will not recommend
either a merger or a dissolution
of member companies.
Robert Haack complained
Sunday reports suggesting such
moves were “unwarranted and
unjustified.”
He also denied reports of a rift
in the company’s consortium of
24 lending banks and said there
is no question of the firm’s
viability.
“We have absolutely no
intention of seeking any form of
financial restructuring which
would be predicated upon
piecemeal dissolution of the
Lockheed family of companies,
nor are we engaged in any
merger discussions,” Haack
said.
Haack said the company
expects to reach an agreement
with the Securities and Ex
change Commission “within a
few days” on a consent
judgment concerning Lock
heed’s alleged payment of $22
million in bribes to government
officials in 15 foreign counties.
news
Boy drowns in pool
VALDOSTA, Ga. (UPI) — Authorities said a three
year old boy drowned Sunday in his grandparents’
swimming pool.
Officials said Michael Dell Thomas, who was staying
with his grandparents, Mr. and Mrs. Lawrence Fountain,
was noticed missing around 7 p.m. His body was found in
the pool about 45 minutes later.
Larsen to run
DUBLIN, Ga. (UPI) — State Rep. W. W. “Wash”
Larsen Jr., D-Dublin, will run for the Bth congressional
District seat being vacated by retiring U.S. Rep. W. S,
“Bill” Stuckey, it was reported today.
Larsen, a three-term member of the Georgia House,
said he “will make an official announcement in a few
days.”
Stuckey, who served in Congress for 10 years, an
nounced Friday that he would not seek reelection.
The Bth District includes 26 counties and stretches from
Macon southeast to the Florida line.
Students favor Carter
ATHENS, Ga. (UPI) — University of Georgia students
taking part in a straw poll have indicated wide support for
former Gov. Jimmy Carter’s presidential candidacy.
Carter received 50 per cent of the vote last week in a poll
of 1,800 students, about one third of the student body.
President Ford was second with 23 per cent, former
Gov. Ronald Reagan of California was third with 8 per
cent and Rep. Morris Udall was fourth with 7 per cent.
Sen. Henry Jackson took fifth place with 3.3. per cent,
Alabama Gov. George Wallace was sixth with 2.5 per cent
and former Oklahoma Sen. Fred Harris was seventh with
1.7 per cent.
Colonial sales increase
ATLANTA (UPI) — Colonial Stores Inc. reported a net
income of $2,659,271, or 70 cents a share, for the first
quarter ended March 27, down 4.6 per cent from $2,787,461,
or 73 cents per share, in the same period a year ago.
Sales for the quarter totaled $223,896,455, an increase
over last -year’s $214,937,061.
Ernest F. Boyce, chairman of the Atlanta-based firm,
said the earnings decline was “largely the result of an
increase in the provision for income taxes during the
period as compared with that of the first quarter a year
ago when the company had significant investment tax
credits.”
Boyce also cited “unusually sharp competitive pricing
throughout our areas of operation” as a factor in the profit
decline.
Bank’s income down
ATLANTA (UPI) — The Trust Company of Georgia,
holding company for Trust Company Bank in Atlanta,
reported a first quarter net income of $2,306,000, down 21.6
per cent from $2,941,000 in the same period a year ago.
Per share profits dropped from 68 cents to 53 cents.
A. H. Sterne, chairman of the firm, said the earnings
BUTTER
HR UP
Here’s an example of the kind of And it paid off. Butter fat was
diing that can happen when you ask a increased to 3.7 percent, raising his milk
Gold Kist farm hand for help with income 30% per hundred pounds. Which
farming problems. It concerns a patron adds up to an average gain of $32.94 per
who was having problems with his dairy day or just over $ 1,000 a month,
herd. Among 244 head of cattle, the butter There are a lot of other ways we
fat content was averaging a low 3.3 percent, can lend you a helping hand. And our
His cows were getting formula feed, no services are free through any Farmers
hay, no silage and very little grazing. Mutual- Exchange.
His farm hand recommended that So when you want to see more
he increase his herd’s fiber intake by cream rising to the top, come to Gold
feeding hay, Gold Kist 18% KOW Bower Kist, where you’ll find good things for
and free choice minerals. , the farm and from the farm,
FARMERS MUTUAL EXCHANGED
decline “resulted primarily from a reduction in loan
volume and an increase in the amount of non-earning
assets, including loans and properties acquired through
foreclosure.”
Sterne said, “other items of income and expense were
generally favorable during the first quarter of 1976.”
Economy improves
ATLANTA (UPI) — The Atlanta Federal Reserve Bank
reports an overall improvement in the economy but says
the non-manufacturing sector has lost momentum.
In its May Monthly Review, the bank said “despite
pauses in some sectors” the economy in the South
continues to improve.
It said Manufacturing incomes rose in February and
unemployment decreased.
“There were large job gains in machinery, metal, and
textiles, with offsetting losses in food and apparel,” the
reserve said in its publication. “The non-manufacturing
sector lost momentum; only trade, transportation and
public utilities showed job gains.”
The Sixth Federal Reserve district includes Alabama,
Florida, Georgia and parts of Louisiana, Mississippi and
Tennessee.
Parkers
owe New York
$32-million
TRENTON, N.J (UPI) — It’D
be tough for New York City
police to track down the 160,000
parking ticket scofflaws from
New Jersey, who owe the fcity
$32 million. A lot of them
reportedly gave false addresses
and are untraceable.
The Newark Star-Ledger re
ported Sunday eight of the 10
leading New Jersey scofflaws
apparently gave false
addresses when they received
their summonses.
The newspaper, which
checked the top scofflaws on the
basis of their automobile
registrations, said many “king
pins” of the New Jersey’s
scofflaw list do not live at the
addresses they gave au
thorities.
Richard Hendricks, who
ranks on the “Top 10” 'list of
Jersey scofflaws, has ac
cumulated $15,005 in parking
fines on 321 summonses since
1973.
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