GOLD STANDARD: NEW YELLOW PERIL See editorial page C, r Sir igau ~IAit6F SULNY Hligh-55 Low--34 Rain and cloudy; clearing in afternoon. Vol. LXXVIII, No. 139 Ann Arbor, Michigan, Saturday, March 16, 1968 Seven Cents Gold Prices Rise as Uncertainty Plagues Mi Ten Pages irkets * * * * * * * * * * * Can Cha mA pointed To Succeed Director Crisler as ' Athletic British OfficialQuits Over Crisis Policies By The Associated Press PARIS-With most major bullion markets closed in the West's money crisis, the price of gold broke loose yesterday in Paris. It rocketed to a record high of $44.36 an ounce, $9.36 above the official price. In a wild day of trading, gold also set a new record of $40.71 an ounce in the Hong Kong market but weakened and the price closed at $38.36. In London, Britain's foreign secretary and deputy prime minister George Alfred Brown resigned last night in deep dis- agreement with Prime Minister Harold Wilson's way of run- ning the Laborite government. The gold crisis and Brown's absence from urgent Wash- ington-London consultations on it Thursday night were con- tributing factors. Brown felt he was left out of high policy determinations and Wilson said Brown couldn't be found to take part in the Thursday night talks "at a * Track Coach Chosen Over Seven Others By HOWARD KOHN Executive Sports Editor and DOUG HELLER Associate Sports Editor Don Canham, Michigan track coach, was appointed to the position of Director of Athletics and Physical Education yesterday by the Regents. He will succeed the outgoing athletic director H. 0. (Fritz) Crisler who retires on June 30. The appointment climaxed months of speculation. Uni- versity President Robben Fleming recommended Canham from an original list of eight candidates nominated by a presidential advisory committee. As track coach Canham, 49, won 12 Big Ten Titles in 19 years as head of, the Wolverines, with a dual meet winning critical phase." ' nnnn- 1- ' ' percentage of .800. Besides an impressive coaching record, he - founded a multi-million dol- lar retail business which man- ufactures and sells athletic equipment and teaching-aid products. R each Pact Currently president-owner of the business, Don Canham Enter- I D e o prises, Canham has agreed to turn j ?tr011 it over to a trust body before he takes his position. Two associate athletic directors,j DETROIT (!)-Striking Team- one for intercollegiate athletics sters at the Detroit News voted and one for physical education, yesterday to accept a new three will be. named later on Canham's year contract offer which might recommendation.1 be a key to settlement of the The Regents restructured the city's 121 day old newspaper athletic department in February. strike. The vote was 336 to 194 creating the two associate posi- and came after the. Teamsters tions and eliminating the current had twice rejected a virtually j post of assistant athletic director! similar offer from the Det'roit now held by Bert Katzenmeyer. News. /Head football coach Bump Elliott Don Cui 1 It. 0. 'Fritz' Crisler Several times previously in his .-JV"1L lkL stormy cabinet career Brown has threatened to resign. Brown'sa sometimes outspoken manner of- ten embarrassed the Labor gov- ernment, but Wilson kept him on. ' V G old R un Brown's successor in the topB y G l R u cabinet post under the prime d minister is a quiet, mild man- By JENNY STILLER nered ex-school teacher, Michael Economists at the University Stewart, who was also Brown's say .the current gold crisis is no predecessor as foreign secretary. cause for alarm. but express pes- Brown is 53, Stewart is 61. simism over what they see as Gold Market Closed likely government attempts to a1- London's bellwether gold mar- leviate the balance of payments ket was closed yesterday in an problem. attempt to cool the feverish stain- A statement released yesterday pede to gold and away from paper by five economics professors ex- currency. Zurich, the only other plains "Despite the analogies that major West European market be- have been made between the fin- side London and Paris, followed ancial panic of 1929 and the pre- suit. sent speculative run on gold, The United States made the re- these two situations are quite quest to close the big London dissimilar." rnarket in an attempt to check It continues: "Gold speculation the gold rush while the central has nothing to do with the bankers of the international gold strength of the United States pool meet in Washington at one economy or the soundness of the p.m. today to study the interna- American banking system. The tional money crisis. f e d e r a l government possesses France, technically still a mem- fmpl e r o g ove t posesse, der of the pool although it ceased ample power to protect depositors, gold contributions, was not invited a power which it did not posses to the Washington talks, a de- in 1929. cision which French officials Commitment thought was a mistake. At the "Furthermore, the government meeting willbe themcentral bank- is officially committed to the ers of the United States, Britain, maintenance of purchasing power Switzerland. Italy, West Ger- and employment and is well many, Belgium and the Nether- aware of the measures necessary lands. to implement these objectives." Regen s Veto Required Forums, Ask Joint Study of Vehicle Rules Teamsters at the Detroit Free Press, who were not on strike but claimed they had been locked out, accepted the offer- last month. Publishers of the Detroit News and Detroit Free Press said in a joint statement: "Publication could and should be resumed quickly despite the fact that four other unions just recently struck the newspapers.E To this end, the newspapers are working out a schedule of meet- ings with the newspaper unions for the purpose of negotiating new contracts which are satisfac- tory to all parties." The Teamsters' strike closed the afternoon News on Nov. 16, 19671 and the Free Press shut down the and Katzenmeyer have been men- tioned as possible associates. Canham will remain as track coach for the remainder of this season. Fleming has said that any coach named as an associate r 1 I ; 1. By STEVE NISSEN The Regents took action in four controversial areas yesterday at their regular monthly meeting. They voted unanimously to: * "Express opposition to a policy which would require em- ployer participation in public forums as a condition of recruit- ing on campus." would remain in nis old positionIvt th Ciyo An WUIUI'II~di1Li L1~UI IO~Ln1 0 "Invite the City of Arnn through next fall.!Arbor to join with the University One of the founders of the Unit- in establishing a joint commit- ed States Track and Field Federa- tee" to study problems with res- tion (USTFF) in 1962, Canham pect to student operation of is now executive director of Unit- motor vehicles. ed States Track Coaches Associa- tion. In 1965 he organized the first' NCAA Indoor Track and Field Championships, now being held in? Detroit's Cobo Hall, and has been meet director ever since. He is also on the arbitration panel me-, diating the NCAA-AAU dispute. next day, saying it negotiated' Contacted in Detroit at the some of its union contracts joint- NCAA Indoor Meet, Canham said, ly with the News. 'I am extremely happy to have Since the strike began, con- been appointed. I think that one t tracts with 12 other unions ex- of the main jobs will be finding pired, and two of them, the press- a way to fill the football stadium men and the printers have struck and the Events Building. Dave1 both papers, while the photoen- Martin. the assistant track coach,1 gravers and the paper and plate should be considered a prime can-1 handlers have struck only the didate to be the new track coach."' News. See CANHAM, Page 9 * Authorize the sale of up to four acres of University North Campus land to the city for con- struction of public housing for low income familieg. * Approve the conversion of Alice Lloyd and Mosher-Jordan residence halls for coeducational occupancy, and the temporary conversion of Lloyd and Winchell houses of West Quadrangle into academic offices. Campus recruiting and Uni- versity driving regulations were both the subjects of open hear- ings Thursday. On the recruitment issue, the Regents approved a resolution which asked University placement; offices "to invite employers in urged caution in dealing with the whose policies there appears to vehicle situation. be student and/or faculty interest Regent Gertrude Huebner sup- to participate voluntarily" in the ported the traffic resolution but public forums. said she thinks "all restrictions In explaining the Regents' op- should be lifted, not gradually position to any mandatory open but all at once." forum, Regent Robert Briggs said However she said such a move "freedom of speech also involves should not be a "unilateral de-' the right not to speak." cision by the University. That With respect to student vehicle would not be fair." regulations the Regents branded The approval of the sale of relaxation of rules as "detri- land to the city for public housing! mental to the health and safety was made despite letter from a of members of the community," law firm 'representing property They stipulated that the joint committee on the problem should( report recommendations by June! 1, and "pending such report the present regulations remain in ef- fect." T Ken Mogill, '69, chairman of the Student Traffic Court called; the Regents' resolution a "tra-; By ROB BEATTIE vesty" and said "students will not Residents of Mosher-Jordan sit passively by. It demonstrates Hall are protesting the decision again how totally fu.Ale it is to to convert the hall to a coeduca- work within the system and ex- 'tional residence. The residents are pect justice," he said. "Students I requesting that the change, which have just as much right to drive was approved by the Regents yes- on public streets as anyone else," terday, be delayed for at least one Mogill added. year, Regent Robert Brown said he A letter outlining the objections feels the University "has a res- to the plan was sent to the Re- ponsibility to the health and gents yesterday. Representatives safety of its constituents" and from the hall also appeared before 'otest Plan ;oed Hall i the Board of Governors of Resi-I dence Halls on Wednesday to re-I quest a change in the policy. The women object to the shortj notice which they were given con- cerning the change. They point out that many current residents were not informed until after spring break that they would not be allowed to return. owners in the area, which asked the University to delay the de- cision. The site is located at Green and Baxter Roads at the eastern edge of the North Campus area. The city plans to erect 24 mult- iple units for the purpose of low income housing. In other action the Regents ap- proved the creation of a new de- partment of urban planning in the College of Architecture and Design and appointed Prof. Ger- ald E. Crane its chairman. French Market Despite the shutdowns in Lon- don and Zurich, the French Fi- nance Ministry ordered normal trading on the gold market, the stock exchange and other ex- changes. On the Paris bourse, the dollar fell off from Thursday's year high of 4.935 francs. It was i I' quoted at 4.85 francs. Maintain Price President Charles de Gaulle First, it could maintain the $35 held an emergency meeting with an ounce price of gold and "take his finance minister and the steps to convince the world we governor of the Bank of France. will straighten out our balance Later Finance Minister Michel of payments and that there is Debre informed reporters: "The therefore no use for 'speculation." French position is well known. A second possibility, he says, There will be no official state- is that the United States would ment." stop supporting the price of gold. Stock Market "This is' my own personal In New York, the stock market preference," he adds. "Leaving weathered the newest develop- the gold exchange standard would ments in the international mone- allow the price of gold to go up tary crisis in strong fashion yes- and down, just as the price of terday. lead does. Such a move would It rang up a substantial gain avoid trying the monetary mech- after early shakiness. anism of the world to some silly Trh di~n Came. in the first nhfr rti : The statement was issued by Professors Robert Holbrook, Ber- nard Munk, William Palmer, Harold Shapiro and Mary Shul- man. Shapiro sees three chief pos- sibilities for action the federal government might take to meet the crisis. TO ENTER PRIMARIES Kennedy To Announce Candi dacyToday WASHINGTON (IP)--Sen. Rob- ert F. Kennedy has decided to run for President. He will announce' today an all out attempt to wrest the Democratic nomination from President Johnson. Kennedy plans to battle for the nomination in at least two pri- :naries-Oregon and California- and may enter Indiana. At the same time, the New York Democrat's organization will at- tempt to gather delegate votes prior to the Democratic National Convention in August. It is understood that he has made no arrangement with Sen. Eugene J. McCarthy (D-Minn) thet other aspirant for Johnson's crown, for a possible poo'in_ of announcement will be that he is going to run. A pre-election contest pitting, Kennedy against McCarthy for the anti-administration and anti-Viet- nam vote was seen by some politic- al observers as a boon to John- son's chances for renomination. In Washington, President