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October 03, 1975 - Image 3

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Publication:
Michigan Daily, 1975-10-03

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Fridoy, October 3, 1975

THE MICHIGAN DAILY

Page Three

Friday, October 3, 1975 THE MICHIGAN DAILY Page Three

WHOLESALE GOODS:

o Sept.
WASHINGTON (AP) - Prices
:of foods,fuels and metals in-
creased sharply at the whole-
sale level in September, the gov-
ernment reported yesterday,
signaling a probable new round
of price increases for consum-
I ers.
The Labor Department said
over-all wholesale prices in Sep-
tember increased six-tenths of
one per cent, down from a gain
of eight-tenths of one per cent
in August.
WHOLESALE prices were 6.3
per cent higher in September
than a year earlier, but the an-

0

-1

I

prices snow t
nual rate of increase for the last BUT economists were most
three months was 11.1 per cent. concerned Thursday over a sev-
Chairman Arthur Burns of the en-tenths of one per cent in-
Federal Reserve oBard told the crease in prices of industrial
House Budget Committee yes- commodities, the biggest month-
terday there is concern at the ly increase since last November.
Fed that "a fresh dose of double- Crude materials prices, a part
digit inflation" may appear. of the industrial commodities
The Labor Department said category, increased 2.7 per cent,
higher prices for vegetables, largely because of higher prices
meat and dairy products pushed for natural gas and scrap
wholesale farm prices 4.3 per metals, the Labor Department
cent higher in September, com- said.
pared with a decline of 1.5 per "That represents a rather
cent in August. Higher farm sharp ncrease at a very early
prices almost always are pushed stage of the production process
along to consumers. 1. . . My guess is that we will

hike

have some more pass-through
effect probably coming to the
Consumer Price Index," said
James Pate, assistant com-
merce secretary, for economic
affairs.
STEEL producers have an-
nounced that new price in-
creases for some steel products
will take effect in October,
which could push industrial
commodities prices even higher.
Pate said he is concerned over
the "pervasiveness" of the in-
crease in industrial commodities
prices.

THE MARX BROTHERS
COCON UTS
AT
Bursley Hall West Cafeteria
Saturday, Oct. 4-8:30 p.m.
Student ID's Required
ADMISSION-$1.00
BHE

Bankrupt W.T. Grant chain
files reorganization papers
NEW YORK (P) - W. T. to reach a suitable agreement have lent the company $640 mil-
Grant Co., the nationwide re- with creditors. lion in short-term and long-term
tatil chain which was hit with IN ITS court affidavit, Grant credits. Three of the nation's
a losses of $111.5 million in the said it currently operates 537 biggest banks - New York's
first six months of this year, Grant stores and 533 Grant City Chase Manhattan, First Nation-
yesterday filed for reorganiza- stores in 40 states and has more al City and Morgan Guaranty
tion under the nation's bank- than 62,000 employes. Trust Co. - have each lent
ruptcy laws, becoming the larg- It listed assets as of Sept. 4 Grant $97 million.
est retailing failure in U.S. his- at $1.016 billion and liabilities at I In court papers, the banks

U. S. POSTAL SERVICE
STATEMENT OF OWNERSHIP, MANAGEMENT AND CIRCULATION
(Act of August 12, 1970: Section 3685. Title 39. United States Code

1. TITLE OF PUBLICATION

The Michigan Daily

2. OATE OF FILING
Oct. 1, 19'75

3. F REQUENCY OF ISSUE Daily exceptgMondaytregular scho1 ANNUAL SULBSCRITION PRICE
4. LOCATION OF KNOWN OFFICEOF PU LCATIOM {Sheet, ity, county, state and ZIPcode) (Not printers)
420 Maynard, Ann Arbor, MI. 48104
5. LOCATION OF THE HEADQUARTERS OR GENERAL BUSINESSOFFICES OFTHEPUBLISHERS (Not printers)
420 Maynazd, An= Arbors I 48104l
6. . NAMES AND ADDRESSES OF PUBLISHER, ,DITORANOMANAGING EDITOR
PUBLISHER (Narle and address)
a forStudent Publica os, 420 Maynard, Ann Arbor, I..48104
EDIO nme anadM
Ms. e. 30 Packard, Ann ArborsMI. 48104
Q on thesf aHl5.X*AlQQ1 sO . Ann .Arbor,: I.480

MANAGING EDITOR (Name and add"s
a. Arans n 3q- IvIuion, Ann Arbor, MI. 48104

AP Photo

tory.

Bite inn

I

The 70-story Peachtree Center Plaza Hotel in Atlanta, Ga.,
has just wrested the title of world's tallest hotel from the i
Ukraine Hotel in Moscow. Standing 723 feet tall, the Peachtreet
rises head and shoulders above any other building in Dixie. 1
White House pomp
greets Hirohito in 4
welcome ceremony
WASHINGTON (P) - Presi- Full military honors were ren-
dent Ford stood on a red-car- dered for the Emperor, who, ac-
peted platform just a few feet companied by his wife, Empress
from the Japanese Emperor Nagako, arrived here after a
whose forces he fought against two-day private rest stop in
30 years ago, but all the talk Willamsburg, Va.

The New York-based chain,
which started in 1906, filed pa-
pers in federal court here seek-
ing rearrangement under Chap-
ter 11 of the federal bankruptcy
laws, which would allow it to
continue to operate while trying

$1.03 billion.
The company's sales last year
of $1.76 billion made it the coun-
try's sixth largest general mer-
chandise chain and 17th largest
retailer, including food chains.
THE CHAIN's largest credit-
ors are a group of 27 banks, who

said they have agreed in prin-
ciple to let Grant use the pro-
ceeds pledged to them for their
loans, subject to cost-cutting ef-
fortts. This support, Grant said,
should give it the cash and cash
flow necessary to get through its
fiscal year ending Jan. 30.

7. OWNER (If towned by a corporation, Its name and address must be stated and also immediately thereunder the names and addresses of
stochholders owning or holding 1 percent or more of total amount of stock. If not owned by a corporation, the names and addresses of the
individual owners must be given. If owned by a partnership or other unincorporated firm. its name and address, as welt as that of each
individual must be given.)
NAME . ADDRESS
'oar3d for Student Publiations 420 Maynard, Ann Arbor. MI. 48104
8. KNOWN BONDHOLDERS, MORTGAGEES, AND OTHER SECURITY HOLDERS OWNING OR HOLDING 1 PERCENT OR MORE OF
TOTAL AMOUNT OF BONDS MORTGAGES OR OTHER SECURITIES (If there are none so state)
NAME ADDRESS

W
J1
F-
W
W

R ENT M E
$7 ADAY 1Oc AMILE
NEW VW SUPER BEETLES
R .RENTABEETLE
.26PACKARDRD.
ANN ARBO
994-9300
-IL

ml'
Z

9. FOR OPTIONAL COMPLETION BY PUBLISHERS MAILING AT THE REGULAR RATES (Section 132.121, Postal Service Manual)
3J U. S. C. 3626 provides in pertinent part: "No person who would her been entitled to mail matter under former section 4359 of this title
shall mail such matter at the rates provided under this subsection unless he files annually with the Postel Service aswritten request for
permission to meil matter at such rates."
In accordance with the provisions of this statute, I hereby request permission to mal the publication named in Item 1at the reduced postage
rates presently authorized by 39 U.S. C. 3626.

(Signature and title of editor, publisher, business manager, or owner)

10. FOR COMPLETION BY NONPROFIT ORGANIZATIONS AUTHORIZED TO MAIL AT SPECIAL RATES (Section 132.122 Postal Service
Manual) (Check one)

was of peace.
Hailing the full restoration of
Japanese-American friendship
after the "tragic interlude" of
World War II, Emperor Hiro-
hito began a state visit yester-
day amid elaborate ceremonial
trappings.
ON AN overcast day, with
about 2,000 persons witnessing
the welcoming ceremonies on
the White House lawn the frail,
74-year-old monarch said:
"Our peoples withstood the
challenges of one tragic inter-
lude, when the Pacific Ocean,
symbol of tranquility, was in-,
stead a rough and stormy sea,
and haverbuilt today unchanging
ties of friendship and good will.
"I feel immeasurably grati-
fied by this happier development
and look forward with great an-
ticipation to the future of our
relationship."
PRESIDENT Ford, who
served in the U.S. Navy, made
no reference to the war, dwell-
ing instead on the current era
of peace and friendship between
the two countries.
"At a time when the benefits
of cooperation are mutually ac-
claimed, your Majesty's visit
symbolizes and strengthens the
ties between our two peoples,"
Ford said.
THE MICHIGAN DAILY
Volume LXXXVI, No. 26
Friday, October 3, 1975
is edited and managed by students
at the University of Michigan. News
phone 764-0562. Second class postage
paid at Ann Arbor, Michigan 48106.
Published d a 11 y Tuesday through
Sunday morning during the Univer-
sity year at 420 Maynard Street, Ann
Arbor, Michigan 48104. Subscription
rates: $12 Sept. thru April (2 semes-
ters); $13 by mail outside Ann Ar-
bor.
Summer session published Tues-
day through Saturday morning.
Subscription rates:, $6.50 in Ann
Arbor; $7.50 by mail outside Ann
Arbor.
ThereIS a
difference!"'
PREARE FOR:
Mo C~hAT Over 35 years "
* 111DM Uof experience
S BA and success
" ~Small classesr
LDAT
Voluminous home
GRE study materials
0 ~ Courses that are
" ATOSB constantly updatedco h
" NICAM Tape facilities for
" ~reviews of class
SeCPAT lessons and for use
. FLEX materials
Make-ups for
ECFMG missed lessons
NAT'L MED DOS ;
" writesor call-
" (313) 354-0085 "
0 21711 W. Ten Mile Rd. j

HIROHITO is the first Japan-
ese monarch to set foot on the
American mainland.
Ford met the Emperor last
November when he became the
first incumbent President ever
to visit Japan.
The Emperor and Empress
will visit five other major Amer-
ican cities and several smaller
ones during their two weeks:
visit. They leave for New York
City tomorrow.

I-
z
DC

m

The purpose, function, and nonprofit status of this Have not changed Have changed during
organization and the exempt status for Federal during preceding d preceding 12 months
income tax purposes 12 months

AVERAGE NO. COPIES ACTUAL NUMBER OF COPIES OF.
i1. EXTENT AND NATURE OF CIRCULATION EACH ISSUE DURING SINGLE ISSUE PUBLISHED NEAR-
A.TTA O.CPIS.PRECEDING 12 MONTHS EST TO FILING DATE
A, TOTALNO.COPIESPRINTED (Net Press Run)**6000700
S. PAID CIRCULATION
. SALES THROUGH DEALERS AND CARRIERS,STREET 4111
VENDORS AND COUNTER SALES ______________
2. MAIL SUBSCRIPTIONS 1689 1734
C. TOTALPAID CIRCULATION 580018 W
D. FREE DISTRIBUTION BY MAIL, CARRIER OR OTHER MEANS
SAMPLES,COMPLIMENTARY,AND OTHER FREE COPIESA100
E. TOTAL DISTRIBUTION (Sum of C and D) 5900 6900
F. CtMIESaCT D1r"titFlED
1. OGFICE 6, LEFT-OVER, UIACCOUNTED.,SPOILED 1aM 10
AFRTER PRPFEVMT7N______ _ ___ ____________
2. RETURNS FROM NEWSAGENTS 52 66
G. TOTAL (Sum of E & F-'hould equal net press run shown in A)'6000f700
SIGNATURE OF EDITOR,PUBLISHERANAGER,
I certify that the statements made by me above are correct
and complete.f :

(If changed, publisher must
submit explanation of change
with this statement)

I

PS Form 3526 (Page 1)
Jan. 1975,

(See instructions on reverse)

Business Secty.'

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