European Stars And Stripes (Newspaper) - August 19, 1978, Darmstadt, Hesse August 1978 the stars and stripes Page 27 Economy inflation worsens Washington a economic growth was stronger during the Spring than previously but inflation was the government said in report ing revised figures the Commerce department said the nations economic output grew by 8 percent in the second Quarter if the figures Are averaged Over an entire that Wax a stronger performance than the percent discount rate to be raised on monday Washington up the Federal Reserve Board Friday announced it is in creasing the discount rate charged to member Banks from 7v percent to 714 per cent effective the rate is the interest charged the Banks in the Federal Reserve system and was the fourth increase this the Board of governors said it took the action in View of recent disorderly conditions in foreign Exchange markets As Well the continuing serious Domestic inflationary action by the Federal Reserve Board had been Treasury Secretary Michael Blumen Thal said late shortly after pres ident Carters news that he and Federal Reserve Board chairman William Miller Are giving urgent Atten Tion to proposals in a number of areas and would expect a series of continuing a ions to be announced As the United states Las been under International pressure to Ake action to curb the slide of the aides to Blumenthal said earlier in the reek the Only would intervene on be half of the Dollar if disorderly Market auditions existed in currency the Federal Reserve wednesday tightened in Erest rates in an Effort to provide support for the it increased its target rates Tor Federal funds from 7 percent to 8 per cent in an unusual move in response to International rather than Domestic economic soviet general Dies Moscow a Ivan Vlad Mirovich soviet army general who commanded troops on the Southern and trans caucasian fronts during world War died after a Long the soviet press he was increase for the same Quarter in the first estimate a month the inflation rate was per cent in the second the highest rate since the Winter of when it also was the inflation rate for the Sec Ond Quarter previously had been estimated at the Carter administration is expecting the Economy to grow at a slower rate of about percent to 4 percent for the rest of the it usually takes a growth rate of about 4 percent to keep unemployment from getting the government also expects an improvement in food prices to bring inflation Down in the second government economists said higher costs for buildings and houses forced them to increase the inflation figures for the Sec from eight cities Ual will seek of for China air routes Chicago a United airlines announced Friday it will ask the civil aeronautics Board to approve routes that for the first time would link eight american cities to Marc regional Publio relations said he does not know of any other airlines that have hied for permission to schedule regular flights to Canton and the Only Chi Nese cities with airports which can acco Iodate Large commercial he said United filed for the China routes in 1971 but the regulatory Agency has not acted on that in addition to the China United also will apply tuesday for permission to Fly to Toyko and Osaka in and to Hong the flights would link the Ori former German my gets life for world War ii crimes Berlin a a former German Mil itary policeman charged with killing 30 so Viet citizens during world War ii has been sentenced to life imprisonment by an East German Herbert of the East German City of had been charged with War crimes and crimes against according to the East German party newspaper Neues Paland headed a unit of the Field a world War ii German military police which was stationed in German occupied soviet territory from the summer of 1941 to the summer of he was accused of personally killing 30 including women and of helping Send at least 96 others off to forced labor programs and of torturing and mistreating soviet co scr president moves against Vesco ent with new and the West coast cities of Seattle Taco Washington Oregon san Francisco and los Michaelson said he does not expect a decision from the cab before he said he could not estimate the the application will be considered As part of a transpacific Low fare route investigation initiated by the Michael son the investigation will consider whether several airlines can provide Low fare service from any Point in the to Hong South Singa the sri Lanka and United does not know if chinese officials would approve the if the cab authorized the both countries would have to sign an agreement before service could such negotiations Are directed by the state Michaelson several carriers such As pan Amer ican world Continental and Northwest air lines Fly to Points in the Ori no airlines operate scheduled flights to Mainland 2 die in Illinois blast Chicago a an explosion ripped through a chemical Plant where 100 employees were on killing two men and injuring four authorities the blast at the stauffer chemical on the East Side of this City 35 Miles South of Chicago was Felt throughout the and Mack smoke clouded the 1 5 most Active new Yor Kupi Yorn Stock a Mojiu inon Tut r Redavi in own n 8tt san Cosu Rica a presi Dent Rodrigo Carazo told a government panel it must express the will of the Costa bean people by rejecting american Finan Cier Robert Vescoso application for citizen a a note to the supreme tribunal of Carazo said since it is an elected it must reflect the will of the pm Teand once and for All end Vescoso to win Vescoso application was made i March to toe civil which recommended journalist Dies a John Oliver Emmerich an award winning it who was editor and publisher of the Mccomb has died at the age of that it be he is wanted in the charges of looting s224 million from investors overseas Mutual fund be he has been also been charged with illegally contributing to for Mer president Nixon reelection Cam so so is co moved to Costa Rica in 1972 and invested heavily in the he applied for citizenship to escape extradition after Carazo won the presidential car Ato had made his close financial relations with former president Jose the country leading politician for nearly 30 a major Campaign Issue and vowed to drive him from the who was a character witness in Vescoso citizenship admitted receiving a business loan from he is believed to be in the Bahamas amex 1 0 most Active new York up to w Matt acum met ill Slack Exchange trading at t Lurt int Niesyt in Vernl track bum v my h Geom numb in i my sub in i in Dow Jones averages new Iurii cum Ragat pm Cotaa Imga mj9 Tuu and the government revises its figures on economic growth once a economic or the Gross National had dropped at an annual rate of percent in the first three months of before rising i percent in the second Quad the department that was the strongest Quarter since a percent gain in the Winter of economists have attributed the sudden increase to recovery from severe Winter which forced factories to and the end of the Coal if the strike and weather effects Are set the Economy would have grown at a rate of about 3 percent each the Commerce department the main reason for the upward revision was a Large increase in business mending for construction and that was encouraging to economists because it Means a future investment in economic larger increases in personal spending for household goods and other prod ecu and in exports also contributed to the the total output of the nations goods and services for the second Quarter was valued at go 2 Hurt in Baum Holder training mishap Germany a training exercise Accident took the life of an 8th inf div Soldier thursday and left another in very serious condition in the 2nd general Hosp in an army spokesman said the which took place at happened when the m113 a Mored personnel Carrier pc in which the men were Riding Sank in a Small Pond during training in water Bome three soldiers in the 2nd 28th inf were aboard the pc when the Accident of according to the Joseph 2nd 28th escaped the pc shortly after it he was treated for Back injuries and re leased from the Baum older medical Clin the pc containing the remaining two soldiers was removed from the Pond by a recovery the spokesman Rescue efforts by seven soldiers who attempted to open the hatches observers emergency resuscitation efforts were initiated on the Ponds Bank and continued As the two soldiers were evacuated by medical helicopter to the army spokesman names of two Millers Are being with held pending notification of next an investigation is being conducted to deter mine the cause of the conversion rate London fridays closing rates of the Dollar to european figures Are expressed in dollars to the British other local currencies to Smitm Pound util Duttko Wimda Imp Gnad Nahma to twi Iota these Are commercial rates and can be related Only to the of foreign currency by forces Tor official sales of German Marks to personnel for personal use will be at the rate of on we Koa is based on Price fixing at midday Sod allows for Standard handling
