European Stars and Stripes (Newspaper) - November 17, 1973, Darmstadt, Hesse                              Saturday november 17, 1973 the stars and stripes d 74 doldrums Page 27 professors say inflation Energy shortage and less big spending will Hurt Economy Ann Arbor Mich. A two economists predicted Friday that the Economy will become sluggish in 1974 because of inflation the Energy Pinch and less spending on big items such As cars an Homes. They said productivity will remain Al most unchanged while unemployment rises. However no recession was foreseen by University of Michigan professors Saul h. Hymans and Harold t. Shapiro in their report prepared for the opening of the University s 21st annual conference on the economic Outlook. . Economy still expanding at a rapid Pace Washington a new figures on the country s Industrial production Indi Cate the nation s Economy is continuing to expand at a rapid Pace a development that could pose problems for government economic planners. The government s Industrial production Index for october showed that Industrial output increased by six tenths of one per cent during the month which is about the same rate of growth that has prevailed during the last 12 months of economic  Federal Reserve Board which re leased the Index thursday said the largest gains were in production of consumer goods and business equipment. One Treasury department economist said the growth could be regarded Asun comfortably Large especially since the administration has been predicting slower economic growth after months of rapid and Vance. But the october increase was Large than the 0.5 per cent growth in september. The Treasury economist noted that in creased output was general throughout the Economy in durable goods As Well As non durable goods. Combined with other recent statistics showing a Large drop in unemployment and a renewal of the upward pressure on interest rates the production Index May indicate that present measures designed to slow the Economy Are not working sufficiently he said. In another economic development the Commerce department said that govern ment receipts exceeded expenditures at an annual rate of $4.3 billion in the third Quarter. The lower growth performance will be accompanied by a minuscule 1 per cent increase in productivity and an unemployment rate averaging 5.2 per cent for the year As a whole and rising during the year. The Over All rate of inflation is forecast at5.6 per cent they said. Growth next year will be held to 2.3 percent compared to 6 per cent for 1973, Hymans and Shapiro said. The growth rat refers to the Gross National product Gnu which is the volume of goods and service produced in a year in the nation. The Gnu is expected to reach $1.391 tril lion in 1974, compared to $1.288 trillion this year. An upturn is predicted starting in the second half of 1974, and they said the first half of 1975 would bring a 4.5 per cent an Nual rate of growth. A significant improvement in con Sumer sentiment any time within the next six months could Lead to a substantially lower saving rate and correspondingly sharper rebound in the Economy during the second half of 1974 and Early 1975,"they said. A decline in Home building and in con Sumer buying of durable items such As cars and furniture was the main reason forthe slowdown in growth expected in 1974. Americans Are expected to pay $56.52billion for automobiles and parts next year compared to a record $59.06 billion in1973. Spending for construction of new Home swill reach an estimated $52.55 billion in 1974, Down from $58.63 billion this year. Total consumer spending is expected to reach $866 billion in 1974, compared with $804 billion in 1973. The increases will be mainly in nondurable goods such As food and clothing and on services. House gop whip Arends will retire in 75 Washington up rep. Lesliec. Arends r-i11., assistant Republican Leader in the House has told Congre she will retire after the current session ends in 1975. Arends recently made an Effort to get the House gop Leader Post which would be vacated if Gerald r. Ford i confirmed As the next vice president. Arends withdrew after it became apparent that rep. John j. Rhodes r ariz., had locked up the Job. Arends 78, said he had decided to yield to the urgings of my family an shall not be a candidate next  he announced his decision to his colleagues thursday on the House floor after a 15-minute session with other Illinois republicans and received a standing ovation. Arends will have completed 40 Yearsin Congress representing a Large District Southwest of Chicago. For 30 years Arends has been Republican whip in the House second in command of Hegop members. The duties of All members of con Gress and particularly those in leadership posts have become More de manding and time consuming in recent years Arends said in a statement. Mrs. Arends and i have now decide the time has come to do As a family Many of the things my official duties have forced us to postpone in the  3 suspects in Munich Kidnap in custody Munich a police said Friday they had taken three suspects into custody and recovered about $885,000 of More than $1 million the owne of Europe s larg est restaurant Chain pain Tor the release of his abducted 22-year-old  worker Johann Mitter Meier 24, was taken into custody in Bay Reuth Friday 200 Miles North of , police arrested Rudolf meierhof Berlin ethnic expo opens by Bert Lindler staff writer Berlin is when being Black is added to being a woman a double barrel effect results a Black member of the women s army corps told a Large Crow attending the first Day of Berlin s ethnic  of All ethnic groups face the same problem they Are discriminate against simply because they Are women said it. Col. Ellen Willis Karlsruhe equal Opportunity  addition Black women Are discriminated against because of their race said col. Willis who is one of five Black Lieuten ant colonels in the wac. Stocks closing . Stock Price through the Courtesy of Frankhaus Bachhand co. Nov 9 nov 16 address graph Allied chem aids cd Alcoa Arda Hess am air Flor am airlines am brands Abc am can co am Cement am by named am Al. Per am Home am motors am Nat Gas att Ampex Ashland of at Rich Avon Back & w Bell & How Bendix Beth steel Boeing Borden Brunswick Burrough celanese Chase Mann Ches & Ohio Chrysler Clark equip 13.2 43.5 11.2 71 36 19.2 12.1 36.4 24.1 28.2 4.7 23.2 24.6 42.4 8.4 32.7 48.2 4.5 28.2 106 89.3 31.2 30.2 32 32.3 18.1 20.6 20.6 241.3 32.7 53.5 51.3 20.3 49.7 12.7 45.5 11 63.2 36.2 17 10.4 35.4 23.2 28 4.5 22.6 24.5 42.3 8.2 31.5 47.5 4.4 27.1 102.6 7.2 33.1 27 29.6 30.6 16.5 19.6 17.2 241.6 32.4 54.4 49.6 20.1 47.4 nov 9 nov 16 Cluett pea coca cola cold Palm Collin Rad lbs Conw de con Edison cont can cont data pc int Deere co Disney Dow chem Dupont Eastern air Elk fair Cam Firestone first Nat c Fluor Ford Gen Dyn Gen elec Gen foods Gen  Gen motors Gen pub u Gen tire Gillette Goodrich Goodyear Grace Grumman Gulf Oil 7.5 143.6 31 24.6 31.6 28.4 21.3 24.4 42 31.7 56.5 60 55.7 170.4 8 127.6 64.4 18.5 47.5 51 48 27 66.1 26.3 17.5 59 19 17 44.2 20 19.1 26.6 11.4 23 7.7 141.5 32.4 24.6 29 28.1 20.6 23.2 38.7 29.1 54 53.7 57.2 164.4 7.3 126.3 64.6 16.5 47.7 47 45.5 28.4 64.6 26.3 17.2 57.3 18.1 16.3 41.4 18.6 17.2 25.1 10.6 23 nov 9 nov 16 Gulf Western Hilton Honeywell ism int chem n int Nickel int paper itt item corp John in Vale Jones 8. Lau Kaiser Alu Kennicott Kraft co lobby owe Long Temco Litton Lockheed Macy Marathon Martin mar May depart Mcdonnell d Mem Mem Mobil Oil Monsanto Nat Gypsum Natoma nor corp Ohio Edison Olin corp Owens Iii pan am air 28.6 20.6 99 287.3 9.6 35.4 48.6 33.5 24.5 20.1 19.6 21.4 37.2 42.7 32.3 11.5 9 6 26 47.6 16 29.7 17.4 16.6 84.7 56.7 58.5 13.3 67 42 21 15.1 40.1 ,1 26.7 17.1 91.2 284.4 9.4 35.2 47.2 32.5 24.2 18.1 18.4 18.3 36 41.1 31 11 8.4 5.1 22.2 51.3 16.1 27.7 18 14.1 82.4 56.4 59.2 13.1 61.4 37.4 20.1 14.1 38.7 5.7 nov 9 nov 16 Penn Cen Pepsico Pfizer Phil Morris Polaroid proc 8, Gam Raythelon Ria re pub steel Revlon Royal dutch St Regis p Sears Shell Oil Sperry Rand std of cat Exxon Swift co. Tel Edyne Texas inst. Texas it Lytwa travellers Union carb Union of Union Pac in Royal unit All us steel West Nuhse Woolworth Xerox Zenith 3.2 82.4 44.5 111.7 88 101.2 32.4 23 26.2 68.7 39.4 48 90.7 56.4 50.4 65.7 93 25.1 12.5 115.7 26.2 19.4 32.6 38 46.4 87 10 24.4 35.6 30.6 20.6 144.2 33.3 3 81 46.6 117.5 94.1 102.2 31.4 20.6 23.7 65.7 38.6 43.4 87.2 61.? 48.7 64.3 96.5 24.4 12 115.7 23.5 17.7 33.6 37.2 47.4 81 9.4 22.7 34.3 34.2 20.1 143 31.5 she said that when she joined the wac inthe Early 50s, the army was still separa Ting the races. Blacks were read official documents about the customs in the South she  was always amazed by the backing these programs received she  now i m hoping that our equal Opportunity programs get the same Back  than 1,500 persons attended the opening Day of the three Day ethnic Export Harnack House to hear the speakers and View six ethnic expositions containing materials gathered from museums and private collections across the Globe. State railway workers go on strike in Thailand Bangkok Thailand a thousands of state railway workers struck Friday halting rail traffic across Thailand. It was the first rail strike in thai history. The Railroad workers demanding higher pay and other benefits put barriers across tracks to keep trains from running. 15 most Active stocks new York up the 15 most Active stocks traded on the new York Stock Exchange thursday. Sales close chg. British pet 527,300 15 a Kresge 307,500 32v4 % coasts tags 254,800 13 % Chrysler 239,600 18% it Penn Central 238,200 3 a -1 Gen motors 227,900 55% i at Topf a 203,900 49 -1 am airlines 202,600 10% i  185,700 33 i i Sony corp 178,900 29m� a Ford 173,800 43% % Ria 163,100 20 h at to 160,900 47 /2 % Monsanto 140,600 55% 2% fed mtg 140,300 19% w Sterling drug 140,300 30% be Dow Jones new York up Dow Jones closing averages Friday close change 30 industrials891.33 16.78 20 transport 175.68 1.43 15 utilities 93.27 0.38 65 stocks 274.30 3.87 Fer a plumber from Landshut just South of Munich. And on thursday about 24hours after Evelyn Jahn was released unharmed for 3 million Marks Ransom Peter Knapp a 27-year-old heating Engi Neer from near Augsburg was taken into  Jahn who runs four Munich discotheques in her father s  Chicken Empire was kidnapped at the Gate to her apartment s garage tues Day  kidnappers exchanged her about 30 hours later for a Ransom that miss Jahn brother in Law handed to two of the men in a red Bow Sedan Early  were hiding about 30 Yards away. They opened fire when miss Jahn was Safe forcing the men to abandon the car. The damaged car s License plate and an accurate description of her kidnappers by miss Jahn gave police vital clues after the two had eluded their pursuers. Retiring general honoured Worms Germany is Brig. Gen. Tom m. Nicholson Bascom Deputy Cifor area support was awarded the distinguished service medal at a retirement ceremony Here Friday. Nicholson assigned Here since Decem Ber 1970, will retire at the end of the Mont with More than 30 years service. He will be replaced by Brig. Gen. James Temple Man who will arrive from his present assignment As Deputy cd army electronics come it. Monmouth n.j., in january. Conversion rate Brussels up Friday s official rate of the . Dollar to european Curren cies. Figures Are expressed in dollars tothe British Pound other local currencies to dollars currency nov. 15 British Pound 2.3875 German Mark 2.587 French franc 4.425 Swiss franc 3.164 italian lira 591.90 belgian franc 38.85 dutch Guilder 2.68 swedish Krona 4.35 norwegian Krone danish Krone 5.98 finnish Mark 3.727 austrian Schilling 19.05 Spanish peseta 57.26 military banking facilities will sell Marks to . Personnel monday at 2.58. The rate at finance offices will be 2.59. Nov. 14 2.3865 2.5990 4.43 3.1770 592.6 38.96 2.694 4.36 5.22 6.02 3.737 19.05 57.3