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.' UNUSUAL IMPI AND DOMESTI SANDALS, & HANDBI EXCE UAL DE I ORTEDI C TOTS, CLOGS, CGS PTIONAL ITY AND .SIGN AT ONABLE RICES a REAS PF "r".. ".".a;r{ : ;fir:!: ; ONE WEEK ONLY WI > 522 EAST .>. r-r . YTT 7 ' V " .. A l _TA T E_6653 f79 i ; ; a *fr--.4