Wednesday, July 23, 1975
(Continued from Page 8)
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READ and USE
THE MICHIGAN DAILY
President Ford chats with Arthur Ashe, left, and Billie Jean King, center, during their visit to the White House yesterday. Ashe
and King are fresh from victories at Wimbledon.
Consumer Price Index
up 8 per cent
WASHINGTON OP) - Pushed by higher said his company's increases
prices for food, gasoline and used cars, con- per cent were fully justified.
sumer prices increased eight-tenths of one The eight-tenths of one perc
per cent in June, the biggest monthly rise in in the wholesale price index in
inflation this year, the Labor Department highest since last December wl
said yesterday. increased by the same amoun
Food prices increased 1.5 per cent, the FOR THE 12-month period en
biggest jump since a 1.6 per cent rise last consumer prices increased 9.3
September, and gasoline prices rose 3 per if the June rate were contint
cent. The major push in the food index was month period, the rate of infla
from meat prices, which increased 6.- slightly more than ten per ce
per cent during the month. The administration has predi
TREASURY Secretary William S i m o n er prices will increase about
called the June increase in consumer prices during 1975. The forecast for
an "ip trend" that shows that inflationary per cent, which would be aboc
pressures remain a serious and continuing
"The figires will bounce around a good
deal in coming months," Simon predicted in
The June rise, which was double the. May
increase of four-tenths of one per cent,
could raise new questions about the cost
of President Ford's energy program.
THE ADMINISTRATION has predicted TAMPA, Fla. 0P) - "It is a c
the energy price increases resulting from pre and simple political- powe
lifting of most price controls on the petro- prosecuting attorney told jurors
leum and natural gas industries would add closing arguments began in the
about 2 per cent to the Consumer Price spiracy trial of ex-Sen. Edwari
Index, three other men.
The Labor Department said the over-all Asst. U.S. Atty. Harvey Schlt
Consumer Price Index stood at 160.6 in ed the 2-week-long trial prov
June, compared with the 1967 average of glimpse" into the nation's pol
100, meaning .that the average cost of the GURNEY, a 61-year-old Re
same qiantity of goods increased from $100 aide Joseph Bastien and for
in 1967 to $t60.60 last month. Housing Administration officia
In another report, the Labor Department Swiger and Ralph Koontz are
said real spendable earnings of workers conspiring to raise an illegal
declined four-tenths of one per cent in tical slush fund by peddling
June, on a seasonally adjusted basis. The fluence to builders seeking FF
June decline followed a 4.7 per cent increase Gurney, who gained national
in May that had resulted almost entirely former President tixon's chief
from reductions in federal taxes. the Senate Watergate Commi
HIGHER wholesale prices in months ahead charged with bribery, accept
for aluminum seemed certain. Executives of compensation and lying to a f
major aluminum companies indicated at a jury. Bastien also is accused
public hearing before the Council on Wage unlawful compensation.
and Price Stability that they will follow "What we have seen in this
through on announced price increase next a rare glimpse of how politicsg
month. relationship between political
"We intend to go ahead with the increas- political parties in raising p
es," said Chairman W. H. Krome George in this country," sad Schlesing
of the Aluminum Company of America, who of a five-man prosecution team
averaging 2.3 1973 increase of 12.2 per cent.
The price of meat has increased a total
cent increase - of 10.5 per cent in May and June com-
June was the bined. Higher prices also were reported in
lhen the index June for fruits and vegetables, which were
it. up'2.4 per cent.
iding in June, THE FIGURES were adjusted for season-
per cent and al variations. Without taking isto account
ued for a 12- seasonal factors, beef prices were up 6.1
tion would be per cent, pork prices were up 7 per cent
ent. and fresh vegetables were up 10.3 per cent,
cted consum- the Labor Department said.
7.8 per cent Prices declined for most other categories
r 1976 is 6.4 of food, including dairy products, cereal and
ut half of the bakery products and sugar and sweets.
draws to close
ase of power,
er," the chief
e bribery con-
d Gurney and
ided a "rare
ls K. Wayne
I attention as
I defender on
ittee, also is
goes on - the
ger, the head
CLOSING arguments were expected to
last at least until today.
There is nothing wrong in fund raising,
or in being a politician, Schlesinger said,
"but this is a case of whether the defend-
ants violated the law in raising campaign
funds to expend on field offices and put
a cash hoard away for the 1974 re-election."
Former Gurney fund raiser Larry Wil-
liams, one of 105 witnesses to testify in the
case, said he collected nearly $400,000 in
Gurney's name between 1971 and 1973 by
shaking down builders for as much as $30,-
"YOU don't give sums like that away in
return for nothing," Schlesinger told a 12-
member jury and four alternates.
"Why charge a conspiracy? Why lump
everybody together?" Schlesinger asked.
"Because it's impossible for a single in-
dividual like Larry Williams to go out in the
State of Florida and do what he did with-
out the help and assistance of other peo-
ple . ."
Williams was hired as fund raiser in Jan-
uary 1971 because he was "sharp, aggres-
sive and they knew he could do the job -
raise as much cash as possible in the short-
est period of time," Schlesinger charged.