Wednesday, October 29, 1975 THE MfCY'GAN DAILY Pae Three Wednesday, October 29, 1975 THE M!CH~GAN DAILY , ,,.. ,. y> .w. n .. ... New York projects November default, awaits Ford statement THE MICHIGAN DAILY . Volume LXXXVI, No. 48 Wednesday, October 29, 1975 is edited and managed by students at the University of Michigan. News pione 764-0562. Second class postage pdid at Ann Arbor, Michigan 48106; IPuiblished d a i1I y Tuesday through Sunday -norning during the Univer- sity year at 420 Maynard Street, Ann Arbor, Michigan 48104. Subscription g ates: $12 Sept. thru April (2 senhes- ters); $13 by mail outside Ann Ar- NEW YORK (A)-New York City's fiscal rescue agency saidl yesterday "the money is notf there" to -stave. off default beyond Nov. 14, but expressedl belief funds would become avail- able. At the same time, Sen. James Buckley (R-Con.-N.Y.) s a i d President Ford would submit legislation to deal with the city's crisis to Congress today.' A SPOKESMAN for a leadingI bank called the city's financial position "di'e" after the Muni-; cipal Assistance Corp. said suf- ficient funds were not now avail- able to prevent the city -from defaulting on its debts.] Buckley said President Ford did not disclose his proposals,, but one high administration of- ficial said his legislative pack- age would deal with revision of federal bankruptcy laws. The official said current laws do not address themselves to< the problems of municipal bank- ruptcies. Ford's proposals pre- sumably would set priorities fort municipal spending in the events of default', permitting cities to continue essential service andt pay off other debts under a plan that would require the approval "The President did express a state and private loans totalin vital concern for the people of $750 million. of a judge, hie said. New York and he is well aware summlier session published Trues- of the problems of civil nirest THE OVERALL plan calls for day through Saturday morning. I j Subscription rates: $6.50 in. Ann FORD does not believe New that could develop in case of $2.3 billion and the Emergency Abofr; $7.50 by mail outside Ann York City's default is inevitable, default," the union representa- Financial Control Board, a state Arour. the official said. tive said. agency set up to oversee city Ford's plans will be spelled spending, says $6 billion in fed- out when he addresses a Nation- AT THE same time, New York eral guarantees is needed anove O.J. Simpson of the Buffalo al Press Club luncheon at noon Gov. Hugh Carey asked the gov- that. Bills has averaged 30 yards per today. But one administration ernors of the other 49 states The $2.3 billion was predicated carry on returning 33 kickoffs official warned "don't expect to urge their congressional dele- upon the state selling $750 mil- during his six pro football cam- any bombshells," adding the gations to vote to help New York lion worth of notes the proceeds; address would be an overview City- of which would then be used to paigns. of the financial plight facing "The taxpayers of your state buy Big Mac bonds. Big Mac - Iew York City. may very well end tip haying proceeds are allocated to the Buckley made his comments New York City's police, firemen city. after he and representatives of and welfare recipients if the city The state, however, found no THIS YEAR 11 New York City public safety is allowed to default," Carey market for the notes and so far WE GOTTA unions met for more than an said in letters to the governors. has had to tap pension funds hour with Ford in the White; The date of default, unless for the money to buy the bonds. GET ORGANIZED House. some sort of federal aid appear- S t a t e Comptroller Arthur ed, previously was given as Dec. Levitt has so far not provided MODULAR RECORD RACKS, THEY URGED Ford to make 1. This, however, was contin- the remaining $150 million and desianed for Heller to hold up certain essential services be gent on a complicated system of this has led to the new crisis. to 28 records. Interlocking, in continued in the city in the event - white: vellow, red, black. of default. A representative for New York firemen said union leaders eclpse ZZ pIresents came away from the meeting with hope Ford would not permit such basic services as fire and police protection to end. M~lcOY AP Photo Map of time Celebrating what she thinks is her 117 birthday, Genovera Gutierrez still makes it to church and the grocery store afoot near her home in San Marcos, Texas. But as for the more questionable pleasures of life, Genoveva is sworn off them - she doesn't smoke or use al- cohol. Formerbunadvocate testifies before Senate U.S. maintains trade surplus in Sept. WASHINGTON (P) - A lead- ing sociologist joined Kentucky political leaders yesterday in calling for an end to compul- sory busing as a means of achieving school desegration. Sociologist James Coleman of the University of Chicago, an early backer of cross-busing of school children, told the Senate Judiciary Committee he now believes that busing has ham- pered more than helped the cause of school integration. CLAIMING BUSING raises "a spectre of a country of black cities and white suburbs," Coleman said he supports a moratorium on all busing and the creation of " a presidential commission to study the impact of busing across the nation. But Coleman disagreed with Kentucky Gov. Julian Carroll and Kentucky senators and con- gressmen who urged that the Constitution be amended to bar court-ordered busing plans' like those now in effect in Louisville and Boston. The Judiciary Committee is holding hearings on four pro-j ing of students beyond the near-j est school. COMMITTEE CHAIR- MAN James Eastland, (D- Miss.), said the two days . of hearings are centering on the Louisville - Jefferson County busing plan' as a "test-case" study of a community "marred by strife" because of court-or- dered busing. A report by Coleman in' 1966 for the U. S. Office of Educa- tion supported busing to achieve desegration. The report found that children from disadvantag- ed backgrounds performed somewhat better when they at- tended school with children from more affluent homes. Coleman testified that when he conducted that study, he nev- er envisioned massive court-or- dered busing of students or the impact it would have on U. S. cities. THE RESULTS of such orders have been counterproductive, he said, increasing racial tensions and contributing to the flight of whites from cities to surround- ing suburbs. to go about ending busing. "I don't see the Constitution as an instrument that should be used for a matter of this sort," he testified. Instead, he said he hopes that the federal courts get the mes- sage that busing hasn't worked and cease issuing busing or- ders. He said he remains puz- zled over why the Supreme Court hasn't already handed' down ahmajor antibusingdeci- sion., IN THE MEANTIME, Cole- man said a presidential com- mission to study busing - with a moratorium on busing plans while the commission does its work - would be "a very use- ful thing for this country." WASHINGTON (P)-The na- tion's trade surplus totaled $976 million in September despite an upswing in oil imports, the gov- ernment said yesterday. The September balance was the. lowest since the United States registered a $557 million trade surplus in April. The August trade balance was $1.04 billion. THE SURPLUS marked the eighth straight month that the value of exports has exceeded the value of imports. The trade balance so far this year is $8.4 billion in the black, compared to a $1.8 billion deficit during the first nine months of 1974. The government also reported that investments by foreigners in the United States totaled $103.7 billion in 1974, much higher than previously esti- mated. However, the Commerce and T r e a s u r y departments said Middle East oil-producing na- tions accounted for only a very small part of the total foreign investment. THE largest investors were from the United Kingdom, Can- ada, the Netherlands and Swit- zerland, along with substantial investment from G e r m a n y, France, Belgium, Luxembourg and Japan, the department said. Petroleum is expected to ac- count for about a quarter of the value of U.S. imports this year and has become a crucial factor in determining whether the na- tion runs a surplus or a deficit in its trade accounts. 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