Poge. Two THE MICHIGAN DAILY Friday, April 20; 1973 Page Two THE MICHIGAN DAILY Inflation soars to six pe WASHINGTON ) - Inflation soared to an annual rate of 6 per cent and the country's economy spurted to near-record levels dur- ing the first quarter of the year, the government reported yester- day. Economists warned that there are signs the economy is over- heating and will have to be slowed down. The gross national product - the total value of the country's out- put of goods and services - in- creased a record $40 billion from January through March to an an- nual growth rate of 14.3 per cent. The GNP is increasing at a sea- sonally adjusted annual rate of $1.235 trillion, the report said, com- pared to $1.164 trillion at the end of 1972. Consumers were both buying more and paying more, the figures showed; and a top government economist said the United States was experiencing inflation under conditions of very strong demand. The economist, Chairman Her- bert Stein of the President's Coun- cil of Economic Advisers, called restraining inflation, and it could the first-quarter inflation rate ex- bring additional pressure to tight- traordinary. en wage-price controls. Inflation, accounting for 6 per One government economist in- cent of the increase in GNP, scor- dicated, however, that the pres- ed the biggest quarterly jump since sure can't get much greater than a 6.3 per cent inflation in the it already is. fourth quarter of 1970. It was more The increase of 14.3 per cent in than double the rate of 2.8 per the GNP was the biggest in 20 cent in the fourth quarter of 1972. years. It equaled the rise in the The rate of inflation for all of last first-quarter of 1971 when the econ- year was 3 per cent. omy was recovering from a reces- If the 6 per cent inflation is sion and a General Motors strike. maintained throughout the year, it T would mean that consumers would The real growth in the economy, be paying $1.06 at the end of the excluding inflation,was7.9 per year for each $1 of purchases at cent, down .1 per cent from the the beginning of the year. last quarter of 1972, but still high- The government's goal for infla- er than some economists think is tion this year is 2.5 per cent, and healthy under present circum- economists still are saying a slow- stances. down to this rate later in the year: Stein said that while the big in- is feasible. Their optimism of two crease in output, employment and months ago however, fias been real income is a "source of gra- waning. tification," it nevertheless points The first - quarter GNP report up "a difficult transition ahead of showed that the Nixon administra- us." tion has not yet been successful inI "Real output cannot go on rising r cent at an annual rate of 8 per cent," he said. "There isn't enough labor or productive capacity to sustain that for very long."j He said a rate of increase of about 4.5 per cent would be about right for a full-employment econ- omy. The United States with 5 per cent unemployment is not yet at the full-employment stage. Highway bill passes tWASHINGTON ) - The House in highway funds on the construc- yesterday passed a $25.6 billion tion or purchase of bus and rail federal highway bill after defeating rapid transit lines. an administration - backed effort Congressional sources said the to tap part of the highway trust House vote "gravely reduces" the fund for mass transit. chances that the Senate-passed The measure now goes to con- amendment will survive the con- ference with the Senate, which has ference in its present formt approved a provision for using Tt funds for mass transit. The effort to open up the fund Final House passage of the three ,had been endorsed by - President Finl Hus pasag o th theeNixon. But there were major de- year program came on voice vote. Nixon. BnttheRerubmijan da-k The House rejected, 215 to 190, fections in the Republican ranks an amendment that would have as the vote broke along urban- allowed cities to spend $700 million rural rather than party lines. t >oc=> <=;ts<;> t<=>o><>c<=>to<= >c>0< AN EASTER VIGIL AND 0 o FESTIVAL EUCHARIST 0 ti will be celebrated at ST. ANDREW'S CHURCH Saturday night, April 21st at 10:30 p.m. by CANTERBURY HOUSE D DONUT WHOLE 900 S. STATE (State & Packard) WELCOMES YOU TO ENJOY * fresh donuts * superb ice cream * refreshing liquids Pick up fresh donuts for your morning coffee clutch The Michigan Daily, edited and man- aged by students at the University of Michigan. News phone: 764-0562, Second Class postage paid at Ann Arbor, Mich- igan. 420 Maynard Street, Ann Arbor, Michigan 48104, Published daily Tues- day through Sunday morning Univer- sity year.aSubscription rates: $10 by carrier (campus area); $11 local mail (in Mich, or Ohio); $13 non-local mail (other states and foreign). Summer Session published Tuesday through Saturday morning. Subscrip- tion rates: $5.50 by carrier (campus area) ; $6.50 local mall (in Mich. or Ohio); $7.50 non-local mail (other states and foreign). FILMS FOR FINAL WEEK Fri., Apr. 20 BELLE DE JOUR Dir. Luis Bunuel, 1966. (French, subtitles). With Bunuel (Tristana Vir- diana) having just won the National Society of Film Critic's Directoriol Award and about to receive the Academy Award for The Discreet Charm of the Bourgeoise, we thought we'd bring back Bunuel's finest film. Cath- erine Deneve plays a frigid wife who turns to prostitution in the afternoon to conquer her sexual fears. Many surrealistic freudian dream sequences filled with ships, masochism, sadism, fantasies-which are dreamt'and which are real? Sat. & Sun., Apr. 21, 22 TH E SI L ENCE Dir. Ingmar Bergman, 1964. (Swedish, subtitles). Stars Ingrid Thulin and Gunuel Lindblom. Inability to communicate is one of Bergman's favorite themes. Two sisters arrive in a large city in which a strange language is spoken. They choose different ways to express their sexuality. Choices: promiscuity, masturbation, incest, lesbianism, reproduction. Wed., Apri. 25 PAMELA AND IAN. Dir, David Greene, 1971. Ann Arbor made film about a bisexual love tri- angle. Well received when we showed it here a couple of years ago. Thur. & Fri., Apr. 26,27 SHADOW OF DOUBT Dir. Alfred Hitchcock, 1943. Stars Joseph Cotton, Teresa Wright, Hume Cronyn. Screenplay by Thorton Wilder. Hitchcock's personal favorite among his films, although rarely seen in Ann Arbor. Study of a teenager's attach- ment to her Merry Widow Killer Uncle-one of Hitchcock's most terrifying films. Short: Betty Boop, M.D. Sat. & Sun., Apr. 28, 29 NIGHT AT THE OPERA Dir. Sam Wood, 1935. The Marx Brothers get into the Opera business- with Margaret Dumont as the patron of the arts. Unforgettable sea cruising crowded cabin scene. Produced by Irving G. Thalberg for MGM. Short: T.V. Goofs. 7 and 9:05 ARCHITECTURE AUDITORIUM $1.00 +, ie I k .A I ,7I Open 7:30 a.m.-10 p.m. Tuesdays-Sundays Phone: 761-5161 ME F Project Community & Rainbow Multi-Media present RAY CHARLESsHW,'73. cHARLESMINGUS LIGHTNIN' HOPKINS - ORNETTE COLEMAN - LUTHER ALLISON - The JOHNNY OTIS Showla". t< LEON THOMAS - HOUND DOG TAYLOR - YUSEF LATEEF N SNRA - J.B. HUTTO & the HAWKS - ROOSEVELT SYKES MORE ARTISTS TO BE ANNOUNCEI) Jacobson's Open Thursday and Friday Until 9:00 P.M. A Get your tickets now Series tickets are available during April for students who will be out of town for the summer. SERIES TICKETS ONLY ($16.00) available at the Michigan Union ticket desk, World Headquarters Records (330 Maynard) in Ann Arbor, and Ned's Bookstore in Ypsilanti. MAIL ORDER - certified check or money order only to ANN ARBOR BLUES & JAZZ FESTIVAL 1973. Box 381, Ann Arbor, MI. 48107. Please include stampeO, self-addressed envelope with your order for speedy processing. (SAYE THIS SCHEDULE) TONIGHT!!! (Friday 20) THE THIN MAN W.S. Van Dyke 1924. Based on Dashiell Hammett's "hard boiled" novel. WIL- LIAM POWELL, MYRNA LOY. "An excellent combination of comedy and excitement"- (N.Y. Times). Nick Char- les throws a concluding banquet and the criminal is unmasked. SATURDAY 21 April RANCHO NOTORIOUS Fritz Lang 1952. MARLENE DIETRICH, ARTHUR KENNEDY A brash tale of western banditry with Dietrich as the mistress of a Texas hideout. "Hungry looking actors swagger and snarl." SUNDAY 22 April DESTRY RIDES AGAIN G. Marshall 1939. JAMES STEWART, MARLENE DIETRICH Dietrich as Frenchy, cabaret girl of the Bloody Gulch Saloon. Stewart as the new sheriff. Magnificent fight between Dietrich and "Mrs. Callahan"-with "no holds barred and full access to chairs, tables, glasses, bottles, water sockets." MONDAY 23 April TO HAVE AND HAVE NOT Howard Hawk 1944. BOGART, BACALL, AND BRENNAN Screenplay by Faulkner from Hemingway's novel. A tough and tight-lipped tale of a pro sports fisherman drawn into international intrigue in the Caribbean. Ba- call's first film. NEXT WEEKEND FRIDAY 27 April THE HORSE'S MOUTH Ronald Mearne 1958. ALEC GUINNES, KAY WALSH Guinness displays "amazing clarity and zest . . . a truly incredible cast of well: night-flawless British players assist Mr. Guinness in giving form to one of the most incisive pictures of an artist ever made."- (N.Y. T i m e s). A haunting'portrait emerges from a disarmingly comical film. * SATURDAY 28, SUNDAY 29 April THE ROARING TWENTIES Raoul Walsh 1939. JAMES CAGNEY, HUMPHREY BOGART i .. 4 i HOW THE WEST WAS CIVILIZED! * THE TRUE FACTS! * THE STORY THE OLD-TIMERS TOLD LATER! * THE MYTHS LATER GENERATIONS MADE UPI ITT~ I - I STACY KEACH (Original Bad Bob) (The Watch Bear) ALL ROLLED INTO TWO HOURS OF PURE ENJOYMENT! Enjoy it When You See it-Discuss it Afterwards if You Wish IN THE LIFE AND TIMES OF 4TH NO SHORTS! HIT/ "JUDGE BEAN"~ I ! PROMPTLY AT WEEK this 1 P.M.-3 P.M.- story 5:05-7:05-9:10 ain't '_ 231 south state true shoula T' TE been.f5: e ***'Ph*ne 642-6261 I 11 I Miss J is enthusiastic about jacket dressing . . . plain contrasts with plaid as easy carer polyester/cotton navy seersucker plaid and solid navy sailcloth coordinates work together in ® wardrobe of ways. From Patty Woodward, sizes 5 to 13. A. Plaid blazer, $24. Solid cuffed pants, $16. Long sleeve nylon turtleneck top in navy or white. S-M-L, $11. B. Top-stitched solid bicycle jacket, $19. Plaid cuffed pants, $19. .A TAIL '.71fr .+.'...._. .. 4lfj + 0 i I