Thursday, March 1 3, 1969
THE MICHIGAN DAILY
Congress investigates mergers
by The A octed P~rss and College Press Ser ice
THE UNIVERSITY OF MICHIGAN
Gilbert & Sullivan Society
W. S. Gilbert & Arthur Sullivan
MARCH 19, 20, 21, 22
Box Office open 10 A.M. weekdays and Saturday,
Phone 764-5 387
featuring "The Six of Spades"
League Snack Bar
Friday, March 14
NEW YORK VP) - Almost
every day, it seems, the con-
flicts of business with the so-
ciety in which it operates are
magnified and broadcast by
activities that take place in
hearing rooms and courts and
During the soaring sixties, as
this decade is sometimes called,
the uproar has been almost con-
tinuous, ironically at the very
time that business has been
making great financial contribu-
tions to millions of pocketbooks.
Judging from the nature of
the complaints, some critics as-
sert, the answer seems to lie in
the changing relationship of so-
ciety and business.
Since old roles no longer have
meaning, they argue, the rules
too must change, just as they do
in sports or in international af-
fairs or in politics or in federal-
state relations or education.
In testimony this week in
Washington, for example, the
new head of the Securities and
Exchange Commission told a
House subcommittee that feder-
al tax laws may be encouraging
the recent spate of mergers and
These mergers, said Chair-
man Hamer Budge, often are
accomplished through use of
borrowed money, the ,interest
on which may be deducted for
income tax purposes.
And so some congressmen are
suggesting that the tax laws be
changed to discourage more
The new obligations of the
stock markets to the rest of
American life illustrates this
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changing relationship. Stocks
once were the play things of
the wealthy, now they are the
tickets to wealth for an aspiring
In the 1960s alone the number
of shareholders has nearly dou-
bled to more than 26 million,
which indicates that business
methods and regulations geared
to another age may have become
During this same period the
number and assets of institu-
tions-funds and endowments,
for example-have grown many
times over, and some reliable
authorities estimate that 50 per
cent of all stock trading is by
Aware that the rules of the
game are as outdated as Abner
Doubleday's regulations f o r
baseball, exchange officials and
federal regulators are now forc-
ing sweeping changes in meth-
ods designed to protect those 26
The changing nature of retail
markets has called for more up-
dating of regulations than any
other area of enterprise during
the 1960s. The old personal as-
sociation that bred trust between
storekeeper and buyer are gone
In its place are the imperson-
al supermarket and the mam-
moth department store. More
than 8,000 items line many
supermarket shelves. How does
the consumer choose among
them? Who can help him? Who
protects him from deceptive
Even more fundamental in
this changing relationship is the
use of credit as a way of life.
A study completed in 1967 by.
the National Industrial Confer-
ence Board, for example, show-
ed that in 1946 only 4 per cent
of take-home pay went to pay
installment loans. In 1966 the
percentage was 14, excluding
Partly as a result, changes-
during the 1960s in consumer af-
fairs, in the laws governing in-
terest, in packaging, in pricing
and so on, have been especially
numerous, and indications are
that more changes may come.
Spanish students charge
unjustified' suapp ressions
By ANDRE GARREGOS
MADRID, Spain (SIPE-CPS)
- The situation in Spain in
January may not have been
such as to justify the suppres-
sion of the fundamental c i v i 1
liberties in Gen. Franco's de-
claration of a state of martial
Various versions are given of
the real reason for the "state
of emergency" due to last until
April 24. Most students think
that the student strikes-which
the government puts forward as
the only reason for the mea-
sures taken-were not that ser-
They were certainly lesser
strikes than that in France last
spring and the revolt at
The events of January 17
(when a commando unit of
about 100 tried to throw t h e
Rector of Barcelona University
out of his window) seem almost
a small event used as a pretext
for a reaction from military of-
ficers who had been preparing
a retaliation for some time.
The government in fact ex-
ploited the attempt, inviting
journalists into the Rectorate
to film staged scenes of t h e
They succeeded in building a
national scandal around t h i s
"act of vandalism," and e v e n
had non-government newspap-
ers demanding "the strongest
measures against this minority
of agitators " who operate on
The Rector of Barcelona, Al-
badalejo, was caught in the
middle of the fires.
He had in previous months
been trying to effect liberal yni-
versal reforms. He gave am-
nesty to students and profes-
sors who had been condemned
by the regime for anti-govern-
ment speeches or books. He al-
lowed rallies and assemblies
which had previously been ban-
ned, and condoned the posting
of anti-government signs and
Conservatives in the govern-
"IT HAS A CHEEKY, NOW ATTITUDE ABOUT IT, AND
SOME GENUINELY IRREVERENT CHUNKS OF TOPICAL
HUMOR. IT IS RIGHT ON TARGET WITH SOME KEEN POT
SHOTS AT PERTINENT AND IMPERTINENT SUBJECTS-
VIETNAM, SMUT PEDDLING, NYMPHOMANIA, UNDER-
GROUND NEWSPAPERS, POP -ART AND SEX AND THE
HOT-BLOODED SINGLE YOUNG MAN. A funny film,/ with
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time comedies can make that same claim?"
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"AN IMPERTINENT, DELICIOUS LITTLE SATIRE.
There is an enormous amount of raw vitality.
Wonderful performances by a cast of fresh and
inventive young actors. Few big budget movies
contain as much wit and purpose!
I 'VERY MUCH ADMIRED 'GREETINGS'!"
Rex Reed.Women's Wear Da ly
"AN OVERGROUND SEX-PROTEST FILM!"
Archer Winsten, New York Post
NO UNDERGROUND MOVIES THIS WEEK
Special 11:15 showing of "Greetings"
Friday and Saturday
ment and the military turned
against him-all the more when
he promised to "close the uni-
versity before I will allow t h e
police to enter it." And radical
students hated him because he
was not really changing, but
only softening and therefore,,
prolonging, a totalitarian state.
The two major universities, in
Barcelona and Madrid, have
been closed since January 18.
They enroll about 65 per cent of
Spain's students between them.
At the University of Navarre,
Spain's only private higher edu-
cational institution, at least sev-
en students have been arrested.
Most student radical leaders
fled the cities as the state of
emergency was proclaimed;
their place .of refuge is not
known. Without them, students
did not dare risk reprisals by
protesting against the declara-
tion, so little reaction was heard
on the campuses.
At the smaller universities in
Saragossa and Deusto, w h e r e
.- students held rallies to protest,
more students were arrested as
At least twelve professors
from the Faculty. of Law and
Economics in Madrid have been
Iplaced undery"house arrest" far
from the city. Another profes-
sor, who called the police to in-
quire about two of his assistants
who had been arrested, was told
not to persist with his inquiries
Iif he did not wish to suffer the
Such a dearth of resistance to
Franco and the generals makes
plausible the propriecy of one
intellectual: "The regime has
begun to be a consequence' of
itself; it has put political evolu-
tion into reverse, and will not
again make the mistake of
opening up the road to free-
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PRESIDENT NIXON yesterday named Notre Dame
president Theodore Hesberg to chair the U.S. Civil Rights
Hesberg reportedly won Nixon's favor last month when
the educator declared that any students or outsiders who at-
tempted to disrupt his campus or who failed to "cease and
desist after a brief period of meditation" would be suspended
Hesberg has served on the commission for the last ten
years, and on the U.S. Advisory Commission on International,
Educational and Cultural Affairs.
As commission chairman, Hesberg will succeed Michigan
State University president John Hannah, who resigned the
post to become director of the Agency for Interiational De-
FINAL DECISION on the construction of an anti-
ballistic missile system will be annognced at a presiden-
tial news conference tomorrow.
The decision will determine whether or not construction
of the controversial $5.5 billion Sentinel "thin line shield"
which includes nuclear warheads placed around major U.S.
cities will be resumed. Nixon last month halted construction
of the system for further consideration.
The announcement will follow a final set of meetings
with congressional leaders of both parties and a conference
with Defense Secretary Melvin Laird who has just completed
an inspection tour of South Vietnam.
Whatever Nixon's decision, however, most congressional
leaders are doubtful that further funds for the project will be
appropriated by Congress this year.
U.S. GENERAL Andrew Jackson Goodpaster will as-
sume leadership of U.S. and NATO forces in Europe start-
ing next July.
Goodpaster, who was recalled from Vietnam last Decem-
ber to serve as Nixon's advisor on National Security Council
procedures, has been instrumental in advising Nixon on how
he should develop new relationships with European allies.
The former deputy U.S. commander in Vietnam will suc-
ceed U.S. General Lyman L. Lemnitzer who has served as head
of NATO forces for the last six years.
The appointment to head NATO's European forces is ex-
pected to remove Goodpaster from contention for chairman
of the Joint Chiefs of Staff - a position which will become
available next July.
* . 0
VIET CONG FORCES yesterday shifted the emphasis
of their attacks from Saigon to the Mekong delta.
The slackening of fighting along the invasion routes to
Saigon and the lull in the bombings of the surrounding
towns appeared to signal a slowdown of the Viet Cong's 18-
day-old.offensive against Saigon.
U.S. military men were skeptical, however, because they
claimed the Viet Cong still held positions north of Saigon
from which they could strike the city at any time.
The same officials stressed that next weekend will be
critical in determining whether or not the Viet Cong will con-
tinue their efforts to invade the capital city.
THE SENATE FOREIGN Relations Committee yester-
day declared that Congress must have a voice in all
future military commitments.
The resolution, which was passed over the objections of
the administration, was similar to one submitted last year by
committee chairman J. W. Fulbright. That motion was de-
feated because it implied criticism of the Johnson adminis-
tration's Vietnam policies.
Though it is uncertain when the resolution will be called
up before the entire' Senate, it is expected to touch off a
lengthy debate concerning the role of the legislative branch
in determining military policy.
The State Department reportedly filed a memorandum
with the committee last Tuesday declaring that the resolu-
tion was "inappropriate."
* . .
ISRAELI OCCUPATION UNITS were called on to sup-
press rioting Arab students in occupied territories twice
Stone throwing Arab students protesting Israeli occupa-
tion north of Jerusalem and in the Gaza strip on the Medi-
terranean were driven from the streets by the troops.
Meanwhile, exchanges of small arms fire erupted in the
Jordan River valley and continued along the S u e z Canal
where the most recent and most 'violent Arab-Israeli clashes
have taken place.
The Egyptians admitted they started the Suez skirmish-
es and said they were adopting an Israeli policy of "active de-
fense" because of the presence of Israeli missiles near their
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MARCH 11-16, 1969
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SCREENINGS at 7:00, 9:00 and 11:00 P.M. (excluding Saturday)
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Mar. 13, Thurs.-8 & 10 P.M:
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