The Michigan gaily-Tuesday, November 1, 1977-Page 3
" O SEE W S AWPM C, LLZ->LY
Chomp
In the old days, Dracula used to sneak into your bedchamber by.
night and bite your neck. Now it's all done by machine, and not a par-
ticularly flashy or romantic machine at that. But you can still be part
of another Halloween legend-the Red Cross blood drive-today
through Friday. Today the drive will be centered in the South Pit of
Markley from, 3-9 p.m.; tomorrow through Friday the mechanical
vampires move to the Union ballroom from 11 a.m. to 5 p.m.
Britai:
LONDON-(AP)-Britain freed the
pound sterling from its weakening
dollar anchor yesterday and let it float
up to its own value on world money
markets. The move immediately raised
living- costs for Americans and other
" foreigners in Britain, but it promised
less inflation for Britons.
The value of the British currency
quickly rose by about 3.5 per cent
against the dollar, from Friday's rate
of $1.77 for one pound to $1.84.
THE RISING POUND reflected
growing international optimism about
Britain's economic future. A year ago,
while the pound hovered below $1.60 the
outlook appeared extremely bleak.
Many in the financial world had con-
sidered the pound undervalued. This
sets
pound afloat
belief grew stronger in recent months
as revenues from North Sea oil and gas
began flowing in and the British balan-
ce of payments improved. For the first
time in years Britain was earning more
abroad than it was spending.
The strengthening pound does not
necessarily mean abrupt changes in
prices for goods or services. But it will
mean that an American tourist, for
example, is getting fewer pounds for his
dollars.
A HOTEL ROOM that cost 20 pounds
a night last week may still cost 20 poun-
ds, but the American will be paying
$36.80, instead of $35.40 at the bank ex-
change rate. Tourists exchanging small
amounts of currency usually find that
they have to pay slightly more than the
official exchange rates.
This revaluation brightened the
outlook for the average British family,
though it may take months for the ef-
fect to filter down to the neighborhood
shop.
The cost of imports, whether raw
materials or consumer goods, will
fall because a stronger pound will buy
more. One business group predicted
that a 5 per cent rise in the pound would
mean a one per cent price decline over
six to nine months.
ABOUT THE only Britons benefitting
immediately were vacationers abroad
who suddenly found their pounds worth
more in the local currency.
But British industry could be hurt
because British exports wi-Il be more
expensive, and therefore less com-
petitive, on the world market.
"The further loss in competitiveness
of a rising pound will not be welcome to
industry," said John Methven, head of
the Confederation of British Industry.
BECAUSE OF these fears, prices of
some leading British firms tumbled on
the London stockmawket. Companies
with a big stake in the export market
lost millions of pounds on paper
because dealers foresaw a tougher fight
for orders against Germany, Japanese
and U.S.competitors.
The upward revaluation was the
result of a decision, reportedly made
only. reluctantly by Prime Minister
James Callaghan's Labor government,
to stop intervening in money markets to
hold down the pound's value. The Bank
of England had accomplished this by
mass selling of pounds and buying of
other currencies.
The pound has long been allied to the
dollar because of the close trade'ties of
the two countries. As the dollar
declined in value against most major
currencies in recent months, the Bank
of England bought heavily into the
American currency.
Government officials said the bank
simply could not continue to sustain this
dollar buying, believed to amount to
more than $15 billion this year. They
said Britain also had to act against a
looming inflationary "money exc-
plosion" resulting from an influx of
foreign funds attracted by the cheap
pound.
Besides rising against the. dollar, the
pound hit 12-month highs against other
European currencies. To avoid a
destabilizing runaway rise, the Bank of
England moved in to buy some less-
wanted currencies.
Hitler's
son alive but
ill, historian claims
Happenings.. .
... get down to brass attacks with a brass quintet concert at noon in
the Union's Pendleton Center... Gerald Rosberg speaks on "U.S.
Immigration Law and the Right of the Aliens" in the International
Center, 603 E. Madison, at noon ... Donald Griffin of Rockefeller
University speaks on "Prospects for a Cognitive Ethology" in 1057
MHRI at 12:30... vegetables annoving you? Chickens insult you at
the dinner table? Buddy, you _got "Food Problems". Environ-
mental Studies Prof. B. Burkhalter will speak on that very topic in 1528
C.C. Little at 3 p.m.... Chuck Volverton of the Michigan bNR speaks
on "Great Lakes Wetland Values" at 4 in 165 Chrysler Center...
Radcliffe Squires (no relation to Harvard Squares) will give a poetry
reading in the Pendleton Room of the Union at 4:10.. .Fran Willis,
assistant legal advisor to the State Dept., will speak on "Recent Ad-
vances in Negotiations With Cuba" in the Law Club Lounge at 7
p.m.... a two-day conference on energy conservation kicks off at 7 in
the Residential College... the MSA steering committee meets at 7 in
room 3909 of the Union ... following which, the rest of the MSA (the
steered) enter the room for a regular MSA meeting at 7:30. . . if you
think you've been maldistributed, or just have something relevant to
say about LSA distribution requirements, show up at an open hearing
on the subject at 7:30 in 2203 Angell ... a program on "The Class
Nature of the Soviet Union" will be presented at 7:30 in 220 Tyler, East
Quad. . . the Domestic Violence Project will show Battered Women:
Behind Closed Doors in 2013 Angell at 8 p.m... . be chic at a free
showing of the Rudolph Valentino film Son of the Sheik at 8 in the Old
Architeoture Aud... . and Peter Starka's frantic fingers will fondle
the frets of a guitar "around 9:30" in East Quad's Halfway Inn. ,
On the outside.;..
The best that can be said of today is that it won't snow. It'll be
cloudy, with southeast winds and light rain all day. The high will con-
tinue at 600; the overnight low will dip to 470. The showers will continue
through the night and end tomorrow, when the high will be in the 50's.
LONDON (AP)-A German historian
claims he has found a son of Adolph
Hitler living in the north of France, the
London Sunday Times reports. .
The newspaper quoted Dr. Werner
Maser, 55, a respected historian of the
Nazi era, saying that Hitler's son is a
59-year-old Frenchman named Jean
Lorret.
MASER CLAIMS to have known for
12 years that Hitler had a son, the paper
said. He was quoted as saying he
located the son two years ago and has
been working to authenticate the claim
since.
The paper said Lorret is desperately
ill and willing to talk about his paren-
tage.
The Sunday Times gave the following
account:
Hitler. is supposed to have met
Lorret's mother in 1918 while serving in
World War I. The boy was born and
Daily Official Bulletin
The Daily Official Bulletin is an official publication
of the University of Michigan. Notices should he sent
in TYPFWRITT N FORM to 409 E;. Jefferson, be-
fore Sp.m. of the day preceeding publication and by 2
p.m. Friday for Saturday. Sunday, and Monday.
Items appear once only. Stutlent organization notices
are not accepted for publication. For more informa-
tion, phone 764-9270.
November Iu 1977
given his mother's name. He was not
told of his father's identity until 1952,
when his mother, on her deathbed, told
him his father was Hitler.
Maser cites a number of sources to
support his claim, among them a trip
said to have been taken by Hitler and
his valet, Heinz Linge, to look for a
house in northern France in 1941. They
found the house, but not the mother or
child.
!i("
('CAINDAR
C Starting Your Own Business. 328-330
Thompson, 9a m.
rWUOM: Crossroads, "Future of Affirmative Ac-
tion,"in depth look at affirmative action policies and
implications of Allen Bakke Supreme Court Case,
10:0)0 am.
Physics/Astronomy: . Yalsoviev, Lebedev Insti-
tute, "Properties of Cosmic Ray Interactions Above
I0 TeV from TienShan," 2 pm.; J. Rose Cornell .U'
,'The Born Approximation, Ultrasound, and Non-De
structive Testing," 2038 Randall Lab., 4 p.m.
Evnironmental Studies: B. Burkhalter, "Food
Problems," 1528 CCLittle, 3 p.m.
'a
THE MICHIGAN DAILY
Volume LXXXVIII, No.47
Tuesday, November 1. 1977
is edited and managed by students at the University
of Michigan. News phone 764-0562. Second class
postage paid at Ann Arbor, Michigan 48109. Pub-
lished daily Tuesday through Sunday morning dur-.
ing the University year at 420 Maynard Street,
Ann Arbor, Michigan 48109. Subscription rates:
$12 September through April (2 semesters); $13 by
mail outside Ann Arbor.
Summer session.published Tuesday through Satur-
day morning. Subscription rates: $6.50 in Ann Arbor;
$7.50 by mail outside Ann Arbor. .
STEVE'S LUNCH
1313 SO. UNIVERSITY
HOME COOKING IS OUR SPECIAL TY
Breakfast All Day
3 Eggs, Hash Browns,
Toast & Jelly-$1.55
Ham or Bacon or Sausage
with 3 Eggs, Hash Browns,
Toast & Jelly-$2.15
3 Eggs, Rib Eye Steak,
Hash Browns, Toast &
Jelly-$2.45
Egg Rolls
W SA
EVERYDAY SPECIALS
Home-made Soups, Beef
Barley, Clam, Chowder, etc.
Home-made Chill
Vegetable Tempuro
(served after-2 pm)
Hamburger Steak Dinner
Fresh Sauteed Vegetables
with Brown Rice
Baked Flounder Dinner
Delicious Korean Bar-b-q Beef
(Bul-ko-gee) on Kaiser Roll
Fried Fresh Bean Sprouts
Kim)Chee
TUESDAY-FRIDAY 8-7
SATURDAY 9-7
SUNDAY 10-7
MONDAY 8-3
769-2288
1313 So. University
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