Oklahoma City Times (Oklahoma City, Okla.), Vol. 88, No. 216, Ed. 1 Monday, October 31, 1977 Page: 1 of 56
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British currejicy jumps up in hectic trading
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Great Britain takes lid off value of pound
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The upward revaluation of the
87 blacks killed
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African battles
in
U.N. panel
readies vote
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to rock ticket sales
on censures
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Bell unaware of any
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Church’s financial records in balance
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Myriad Garden#
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The value of the British currency
shot up from *1.77 to about 11.84 in •
early hectic trading on the London
exchange. Later it dropped to
*1.827, then returned to *1.832 as
dealers tried to cope with a flood of
orders
By Jim Jubasuu
Conservative priest R R. Press-
ley today declared in Oklahoma
County District Court that he was
wrongfully forbidden to continue his
priesthood at St. David's Episcopal
Church by the Rt. Rev Gerald N.
McAllister, bishop of Oklahoma
“The further loss of competitive-
ness of a rising pound will not be
welcome to industry," said John
Methven, director-general of the
Confederation of British Industry.
The revaluation was a blow to the
pocketbooks of foreign tourists here
and an overnight windfall for Brit-
ish travelers abroad.
A prediction of the government's
action in a Sunday London newspa-
per triggered similar increases on
exchanges in the Far East, which
open some hours before the London
The pound also rose against other
key European currencies in early
trading today — from 4.02 German
marks to 4.13, and from 8.61 French
francs to 8.85.
Tricky spooks
getting a treat
With a promise of no tricks, the
weatherman had a treat in store fo<
Oklahomans for Halloween
market because of the time differ-
ences.
The government announced that
beginning today, the Bank of Eng-
land would no longer try to keep the
value of the pound down by purchas-
ing dollars and other foreign cur-
rencies.
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Spooks night out
Halloween la not when Jest the ghosts sad goblins sad
black cats and Jack-u-laateras come out — but also the
speoktaeolar team of photographer J. Den Cook and
csrtooaist Hank MeCInre, who stltehed together their
talents to bring life to this vision of the creepiest night
Weekend rains scampered east-
ward out of the state this morning
promising only slightly cooler tem-
peratures and partly cloudy skies.
Showers which accompanied a
cool front moving across the state
Sunday produced only light rain in
the Oklahoma City area.
Generous rains fell in some parts
of the state with Lenapah leading
the parade with 2 OS inches. Barties
ville had 1.38; Claremore. 1.25; Hol-
low. 1.22; Chelsea. 1.34; Vinita. 1.32
and Wann, 1.S4.
High tempeatures Tuesday should
be near 70 after overnight lows near
40 in the northwest to the mid 50s in
the southeast.
"The only notic<
the press '
He later expam
ment, saying he I
The purpose of the national
bank's intervention had been to help
make British exports more competi-
tive in price. But growing belief
abroad that the pound was under-
valued resulted in a flood of foreign
The South African government
said its troops killed SI guerrillas
and lost five of its own soldiers in a
36-hour battle last week along the
border between South-West Africa
and Angola. It was the heaviest
fighting reported in the 10-year-old
bush war for the independence of
the former German territory now
administered by South Africa.
A communique said government
troops engaged an 80-man force of
the South-West Africa People's Or-
ganization (SWAPO) on Thursday
and battled back and forth across
the border. It said the South Afri-
cans reached the guerrillaa' "most
northern base" in Angola before
retreating Saturday.
The announcement did not say
(See AFRICA -Page 8)
The newly-appointed director of
the Myriad Gardens Authority said
Gov. David Boren, Mayor Patience
Latting. trustees of the authority
and others involved in creating the
downtown cultural magnet will be
present for the noon ceremony.
currency Into London to buy pounds
and hold them for profitable resale
after the expected revaluation. The
influx threatened to send the Infla-
tion rate up again.
The Treasury statement announc-
ing the change in policy said: “The
government believes that general
stablity in the external value of
sterling benefits the economy and
has been generally welcomed.
“Until July nubility meant in
practice a steady U.8. dollar-ster-
ling rate, but since the U.S. dollar
began to show leas stability relative
to other currencies in mid-summer,
it has been more appropriate to pay
regard to the stablity of sterling's
effective exchange rate index
against the currencies of our main
trading partners as a group.
"For this reason the sterllng-dql-
lar rate has tended to appreciate <e
the dollar became less strong
against currencies generally.**
A year ago the pound sterling was
one of Europe's sickest currencies.
(Bee POUND-Page 2)
' 'I
/1
Combination subscribers re-
ceiving The Daily Oklahoman.
Oklahoma City Times and The
Sunday Oklahoman will pay
*1.35 per week or *5.85 per
month
Subscribers who receive
The Sunday Oklahoman only,
delivered to their homes, will
pay an increased price. •
All Oklahoman and Times
representatives will receive
an increase in earnings.
By The Asseeiated Press
The South African and Rhodesian
governments reported killing 87
black guerrillas in two border bat-
tles as the U.N. Security Council
prepared to vote today on four Afri-
can resolutions censuring South
Africa.
Rhodesia also announced a 22-
hour exchange of fire with Zambian
troops Saturday and Sunday, and
said intermittent Zambian shelling
continued today. The Rhodesia Her-
ald newspaper said the weekend
bombardment was the heaviest ever
against Rhodesia from Zambia,
which supports guerrillas fighting
the white minority government.
Meanwhile, about 87,000 students
in the black South African township
of Soweto continued their school
boycott despite a warning from offi-
cials that they would have to repeat
the academic year if they missed
examinations starting today. The
students are among 300,000 South
African blacks protesting a sepa-
rate educational system they con-
sider inferior to that provided tor
whites.
Enough money is now available to
begin work on the botannical gar-
dens, lake, three plazas, open space
and and general landscaping. Cook
said *4.6 million is set aside for the
first phase. Federal funds provide
the bulk of "start money," he said.
The funds are being provided by the
Department of Housing snd Urban
Development and the Economic De-
velopment Administration.
Another *2.2 million is available
to plan and provide seed money to
locate such cultural programs as
the Oklahoma Art Center, Arts
Council of Oklahoma City, a state
historical museum, library and
VAMth sctiviHes hullrttno
Aettoa Use
Bridge
Business News
Classified Beetles
('•■lea
Cryptoquote
Deaths
Oar Times
Sports
TV Log
Vital Statistics
Women’s News
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Fairground site problems listed
Fair leaders object
Ship sinks; 10 die
BREST, France (AP) — A Greek
cargo ship buffeted by 50-knot
winds sank in an Atlantic storm to-
day and at least 10 sailors drowned
in 20-foot waves, French maritime
authorities said.
Five other members of the 21-man
crew were picked out of the sea by
the Moroccan-registered freighter
--y
NOTICE OF PRICE CHANGE
Effective Nov. 1, 1877. sin
gle copy prices for The Daily
Oklahoman and Oklahoma
• City Times will be reduced
from 15 cents to 10 cents and
The Sunday Oklahoman will be
increased from 35 cents to 50
cents.
Times and Sunday sub-
scribers and Oklahoman and
Sunday subscribers will pay
the same price as before.
Times only snd Oklahoman
only subscribers will pay less.
40 PAGES
VOL. LXXXVIII, NO. 210
S873M
tap, spokesman says
By Dwayne Cox
that the Illegal taps were disoow
ered nine or 10 years ago.
Hervey's testimony came during
his deposition by Silkwood attorney
Daniel Sheehan in connection with a
*100,000 suit against the Kerr-
McGee Corp., two FBI agents and an
alleged FBI informant.
Sheehan today told Hervey the de-
position was prompted by Informs-
(Bee MLKWOOD—Page *j';
By Boe Hale
beautiful, he said,"why make this
park a dumping ground?.”
Officials also said the fair will not
receive any of the revenue from the
rock concerts which are booked at
Myriad Convention Center or Civic
Center Music Hall.
They said if the city receives the
revenue, if should also have to put
up with problems caused by crowds
during advance ticket sales.
The city has control of the Fair-
grounds for 10 months of the year.
The Fair Board exclusively controls
the grounds one month and shares
control with the city during remain-
ing months.
The decision to attempt to lease
(See Tickets-Page 8) .
whOTSNSoe
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By Jen Dentes
Groundbreaking for Myriad Gar-
dens will be held Nov. 17, Edward
Cook said today.
weafheR
Loeal: Fair to partly cloudy
and mild through Tuesday
Northerly winds 5 to 15 m.p.b.
tonight. Lows tonight near 50;
highs Tuesday mid-70«.'
(Details, Page 18.)
,4
“We'll put in a shovel
someplace. "Cook said of the ground
breaking site. By mid-1880, he pre-
dicted. the urban renewal site
should be fully landscaped and at-
tractive to the eye.
1 f***
State Fair officials said today
they are opposed to the Oklahoam
City Council's proposal to lease tick-
et agency office space at the Fair-
grounds.
The Council authorised public
events officals to negotiate a con-
tract with Bench-Carson Attrac-
tions. a ticket agency which handles
rock concerts, after residents near
the agency's present office com-
plained of nuisances caused by
large crowds.
"Whatever is offensive at the
present location will be Just as of-
fensive in State Fair Park," a fair
spokesman said today.
Maintenance crews spend many
hours trying to keep the grounds
LONDON (AP) - The British gov
ernment took the lid off the pound
sterling today, suspending efforts to
hold down Its value and allowing it
to float freely in the world’s money
markets.
Southwestern Bell Telephone Co.
has no information about alleged
wiretapping of Karen Silkwood, but
wiretapping by several means could
have occurred without the compa-
ny's knowledge, Bell's Oklahoma se-
curity chief said today.
James Hervey, director of
Southwestern Bell’s telephone
security, said he knows of four or
five legal wiretaps by the federal
government in Oklahoma during the
past 13 yesrs, and said his office
has encountered two illegal wire-
taps during that period.
Hervey said, however, that none
of the tape was related to the Kerr-
McGee Corp., and refused to specify
other details about the taps except
ef all. Halloween wit beet a mean-looking cat clinging
atop a meaner-looking pumpkin wosM be like a night
without the fill moon shining. Tonight goblins will be
roaming to get tbelr treats. An explanation of how this
picture was made Is on Page 8.
pound, which many financial ob-
servers had considered under-
valued, was aimed primarily at
heading off new inflation by making
imports cheaper
But at the same time it will make
British goods more expensive and
less competitive on the world mar-
ket.
ing before Dint. Jack R. Parr and
was about to leave the witness stand
when he asked permission to make a
voluntary statement.
“I had not abandoned the com-
munion of the church," he said.
♦Al had had'was in
nied on his state-
h^i been consider-
(See PRIEST-Page 8)
Priest says inhibition unlawful
Pressley was the final witness in a
hearing in which the break away St.
David's church was trying to recov-
er its business books, which it has
alleged have been retained by a for-
mer church official who remained
loyal to the bishop.
The priest had concluded testify
OKLAHOMA CITY Tf/Vf FS^
Monday evening--------------------October 31, 1977 -*• loibst stocks
Selma, added a spokesman at Radio
Conquet. a governtnont-run rescue
and radio monitoring post.
Russian, Dutch and Danish ships
were participating along with the
Moroccan craft in a search for six
sailors still missing after some 12
hours of rescue operations, he add-
ed.
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Standard, Jim. Oklahoma City Times (Oklahoma City, Okla.), Vol. 88, No. 216, Ed. 1 Monday, October 31, 1977, newspaper, October 31, 1977; Oklahoma City, Oklahoma. (https://gateway.okhistory.org/ark:/67531/metadc1798307/m1/1/?rotate=270: accessed July 16, 2024), The Gateway to Oklahoma History, https://gateway.okhistory.org; crediting Oklahoma Historical Society.