Star Tribune from Minneapolis, Minnesota • Page 41

5C THI MINNEAPOLIS TlllUNI Oct. 4, 1970 Wheat Continued From Page One Saint Paul Port Authority Conventions This Week The Minneapolis Chamber JF2 TTTT fri A of Commerce lists the fol io i conventions and meetings: Minnesota Retail Federation. annual meeting, today and Mon-. day, RadiNson South, 400 persons expected. N.W.

Buyers and Jobber, lodav- Wednesday, Dyckman Hotel. 500. Pretresscd Concrete Institute, today-Friday, Leaniincton Hotel, Argentina, arviher important competitor, was hit by drought and has a crop of about five million tons, down 40 percent from seven million tons last year. Argentina may even be in the market this year to meet domestic demand and earlier export commitments. France, which has moved into a number of traditional U.S.

export markets, including the key Japanese market, began the crop year with a carryover of less than two million tons, one-third of its 1969 total. France, therefore, is not expected to be as aggressive a competitor as it was in 1969-70. Russia, which is capable of being a strong force in the market, is expected to have a good crop. Nevertheless, despite the obvious needs of East European satellites, it has not been exporting so far this year, and Halow thinks the reason is that Russia is cdmmitted to holding onto its grain in an effort to boost livestock output. Canada's wheat crop is down 51 percent from a year ago, but past surplus production has given it a two-year supply with which to move aggressively into the export market.

Nevertheless, Canada's logistical limitations are expected to leave a strong market for U.S. wheats. 800. International Festivals Association, Monday-Wednesday, Kadis-son South, 60. Technical Association of the Pulp and Paper Industry, Second ary Fibers, Monday-Thursday, Pick-Nicollet Hotel, 300.

Dairy Processors, Tuesday and Wednesday, Holiday Inn Central. 750. Twin City Purchasing Man agement Products Show, "Busi ness Scene '71," Tuesday-Thursday, Auditorium. MtnnACnt a f'Aiinll in llnmur. ried Parents.

Fridav. Pick-Nicollet Hotel, 600. 184th Infantry Division, Friday-next Sunday, Ambassador Motel, 150. Consultlna Engineers Council Eliminates "tight money" problems Provides a plant designed to your specifications of the United States, Friday-Oct. 13, Kadisson Hotel, 400.

2 Upper Midwest Allied Gifts Association, Saturday and next Rochester Continued I mm Pane One Ralph Slovens, jeweler, is too, although he is hopeful (hat (lie departure of Dayton's will not do him permanent harm. Stevens has two jewelry shops, both known as Blickles Jewelers. One of them, he said, depends largely on transient trade and shouldn't be affected by Dayton's. The other one "will probably be hurt temporarily," he said. lie believes the downtown area will benefit if Dayton's expands its trade territory after opening its larger store, lie also said that shoppers eventually may begin drifting back downtown after the novelty of shopping-center retailing wears thin.

However, said Stevens, "the downtown merchant is going to have to really promote." The movement of retail business from downtown to the city fringes is hardly unique to Rochester, as Darryl A. Lee, executive vice-president of the Rochester Chamber of 1 Commerce, pointed out. But with assets like Mayo Clinic, Tee said, "You'd think if any com- munity could retain a strong down-l town, it would be Rochester." He said he's convinced that the 1 departure of Dayton's will create a vacuum that somebody is bound to fill with another department store. That kind of optimism, however, is rare in Rochester these days as the retail business flourishes in seven shopping centers on the edge of the city. i More shopping facilities are being planned in outlying areas, and there is even some talk here that Rochester is "over-retailed." Dayton's will build its store at Apache Mall, a gleaming edifice on the south side of town that was opened about a year ago.

Ward's and Penny's are already occupants of Apache, which, after Dayton's completes its move, will be the third largest shopping center in the state. Dayton's isn't anxious to leave downtown Rochester, but according to store manager James Klatke, there is no alternative. Dayton's feels it has to expand, he said, and the only economical way to do so is to move. If the downtown urban renewal plan had been approved, it is "very likely that Dayton's would have stayed downtown," said Carl Erick-son, board chairman of the Minnea-plis-based department-store operation. "But it might have been the wrong decision," he added.

'The impact of Dayton's move is magnified by the fact that the firm actually occupies five buildings downtown, including three that are attached to the main structure. The firm plans to begin building its new store by the middle of next year and hopes to complete it by late 1972. The new structure will be two stories high and will have square feet of space, compared with 1 15,000 in the present store. Sunday, Midwest Merchandise Mart, 1,000. National Indian Communication Action Program Directors Con ference, Monday-Thursday, Rad- On prime industrial sites near downtown Saint Paul isson Hotel.

700. The St. Paul Chamber of Commerce lists the follow ing meetings: 4-H 1970 Tractor Contest, to day-Tuesday, Lowry Hotel, 75. Contact the Saint Paul Port Authority at 612224-5688 for complete details or mail coupon below takes roughly 50 percent of the nation's total crop. Halow last week listed a number of factors behind the present world wheat situation, including: Importers In addition to the big, stable export markets, such as Japan, a number of'othcr countries have moved this year from a self-sufficiency to an import situation.

Eastern Europe is one such area. Rumania, which was not an exporter in recent years, has purchased a half-million tons of wheat from the United States, including 300,000 tons last week. FlooGing cut Rumanian wheat production drastically this year. Yugoslavia, self-sufficient last year, also is in the market, and Poland and Czechoslovakia are expected to be importers this year. In addition, the Mediterranean area appears to be grain-deficient this year, including several countries that were self-sufficient last year.

South Africa also is expected to be an importer this year. Exporters Australia, a consistently strong export competitor, had lower plantings and was hit by drought. The result: a crop of about eight million tons, down 35 perceht from 10.8 million tons last year. Foundation Continued From Page One corporation last year supported such things as: United Fund, including united campaigns in various cities where Dayton Hudson operates, $593,906. The National Alliance of Businessmen, a job-finding agency for the poor, $10,000.

The Minneapolis Police Department, $500 to conduct a course for policemen on social change. The Minnesota Orchestral Association, $270,000, which was part of a five-year, to support the development of a regional orchestra. The Twin Cities Opportunities Industrialization Center, which provides vocational training for disadvantaged persons, $25,000. Tamarac Youth Center, a training center for Minneapolis youths in northwestern Minnesota, $25,000, with $150,000 pledged over a three-year period. Gifts of the foundation, which are funded by its investment income and by the totaled about $1.16 million last year.

The Dayton Hudson Foundation, established 52 years ago, is one of the largest corporate foundations in the Twin Cities area, MacGregor said. "The two broad areas where we feel most competent and able to contribute effectively are in the support of local cultural institutions and the solving of social problems," the Dayton Hudson report said. An area that will receive "special emphasis" will be the "housing crisis," MacGregor said. Dayton Hudson is supporting the Greater Minneapolis Metropolitan Housing a recently formed non-profit group that will attempt to improve the housing supply for low and moderate-income persons. Dayton Hudson plans to contribute up to $250,000 to the effort.

While Dayton Hudson supports charities in various communities where it operates, the company feels the Minneapolis area is its prime obligation, MacGregor said. Dayton Hudson, like many companies, has experienced a decline in earnings recently, and MacGregor acknowledged that this could result in a reduction in contributions. "We are going to try to find a way to maintain our level of giving," he said, but he added that "a decision hasn't been reached." Coordinated Aerospace Supplier Evaluation Association. Tuesday-Thursday, Hilton Hotel, 150. Minnesota League of Credit Unions, Thursday-next Sunday, Hilton Hotel, 1,100.

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Kennedy added that if other countries did not want to take U.S. dollars, they could have any reserve they wanted. This remark evoked cynical comment from the Europeans. They see the United States as clutching its gold but at the same time owning a nice money machine, since the dollars it prints can be used to finance U.S. deficits abroad.

The same dollars, they say, also enable American companies to buy up large amounts of European industry. American takeovers of European companies and the implantation of U.S. banking and business subsidiaries in their territory may well be the most critical grievance of the European capitalists against the Americans. Because tight money and strained liquidity at home forced many U.S. banks and businesses to increase their takings of Euro-dollars at a time when demand for them by borrowers in the rest of the world was rising strongly, interest rates were pushed up in Europe to stratospheric levels.

The Europeans feel that all these money miseries are being forced on them by U.S. foreign-policy blunders, especially the Vietnam War. They feel that they have been, compelled to underwrite that war, which they basically oppose, by absorbing the dollar outflow that results both directly from war-induced deficits in the U.S. balance of payments and indirectly from war-aggravated inflation. Both the Japanese and Europeans are afraid that if the United States does not check its inflation, it will continue to undermine its balance of payments and be forced to resort to a highly protectionist trade policy, which would damage world trade.

Some Europeans see the U.S. drive for more flexible exchange rates as a means by which the U.S. is seeking to avoid dealing with the problems of an overvalued dolar and chronic payments deficits. Since the United States has no intention of devaluing the dollar, they think Washington is trying to force others to revalue their money upward. The French clearly regard the U.S.

push for exchange-rate flexibility as a move to prevent the evolution of a common European money, which would liberate them from the sway of the dollar. The United States likes flexibility for everyone but itself. However, this is an academic issue, because the Europeans would almost certainly not let the United States devalue the dollar in relation to their currencies, but only in relation to gold, which the United States has no intention of doing. The Europeans would not give the Americans the trading advantage that would stem from a devaluation of the dollar relative to their own currencies. If the United States devalued, so would they.

Yet they want to be free of dollar domination. And, as in some unhappy marriages, the specific issues under dispute are less important than that general desire to break away. So the Europeans are moving to set up separate living arrangements. Right in the midst of the IMF meeting in Copenhagen, representatives of the European Common Market and its six member-governments held a meeting and issued an announcement that they were ready to take their first step toward full monetary integration. In identical words, all of the six declared that they had decided to create "an economic and monetary union." England has promised to do the same if it is admitted to the Common Market.

Over the next 10 years, the six plan to go all the way to a common currency, divorced from the dollar. They would have their own federal reserve board and pooled reserves. The United States is still hoping to prove that it can go straight and avoid a foolish and unnecessary divorce. However, it is willing to concede that somewhat freer and more independent arrangements might oven work out better for both parities, provided they stayed friendly. thi new near downtown convenience address MODERN HOMES In Roswell 'i most attractive residential sections ar offered by Fsdertl Housing Administration, a department of HUD.

HUD properties art offered for sale to qualified purchasers without regard to the prospective purchaser's religion or rational origin. Priced from $10,000, many require no down payment. You can buy regardless of age. HENNEPIN SQUARE ROSWELL RETIREMENT SERVICE (Non-Profit corp.) Box 2146, Roswell, Hew Mexico 88201 RUSH COMPLETE INFORMATION ABOUT ROSWELL TO: 1 NAME 1 ADDRESS CITY. 2021 EAST HENNEPIN.

MINNEAPOLIS HIWAYS 280 1-94 36 35W NEARBY 5 MINUTES TO ROSEDALE, MIDWAY, AND OF 20 MINUTES TO THE AIRPORT CENTRALLY LOCATED 10 MINUTES TO MPLS. ST. PAUL LOOPS FULLY CARPETED, ZONED CLIMATE CONTROL PRIVATE EXECUTIVE GARAGE UP TO 21,000 SQ. FT. PER FLOOR HI LLC REST DEVELOPMENT Owntn 4 Monogtrt PHIL REEVES 331-9426 or 324-5811 ZIP I I If il Place Your Savings With Us years ago, it was the first branch outlet established by the Dayton company.

Ironically, when Dayton's first came to town, some merchants were worried about the amount of business they might lose to the big store. i Today, despite the bitter medicine of the impending move, there seems to be considerable sympathy in Rochester for Dayton's motives. After all, said Mayor Dewey Day, "They are expanding and building another new store. And they will still be in the city." As Day sees it, Rochester is a solid town that has reached the end of the boom that pushed it forward during the 1960s. Day and the City Council have begun a study to try to determine what can be done about downtown problems without urban renewal.

Among the subjects to be examined by the council are intra-city tax disparities between the shopping centers and the downtown area, traffic problems downtown and the appearance of the downtown area. Parking is widely regarded as one of the prime problems for downtown retailers. To remain downtown, said Erick-son, "Dayton's would have required parking facilities that just weren't there." Lee feels that the par'-used in shopping cen where the merchant, in effect, picks up the tab for the customer has to be instituted downtown, too. Lee yearns for something big like a "downtown shopping center" to revitalize the city center. But whatever happens from nothing at all to complete renovation it seems clear that downtown Rochester is reaching the end of an era and that it will be something different in the future.

An editorial in the Rochester Post-Bulletin, while stressing the need for downtown rejuvenation, said: "It also must be recognized that the complexion of dvntown Rochester is changing, is in nearly every city, from the role of being the community's major retail complex to that of a combination of a profes-sional-businrss-ctilluiHl center with lesser empluisi on retailing." AND EARN 10 11 0 MORE I Tillman S. Stevens Soys: 1 Earn Deductions Continued From Page One helps pay for doctor's charges, out patient hospital treatments, supplies used at home such as walkers, wheelchairs, physical therapy and services of a visiting nurse. Generally, this supplementary insurance pays 80 percent of the reasonable charges after a yearly deductible of $50 has been paid by the recipient. How does all this affect an elderly person's dependency status? For a taxpayer to take an elderly parent as a dependent, the parent must have less than $600 gross income. Social Security payments, disability payments, tax-free interest and a few other items are not ov-kiM f' s'fn income.

So iiic lhLUUie Uot aii i'ir to fathom. Also, the taxpayer must furnish proof of providing more than one-half the support of the parent. If several children contribute, they can designate one of their number to take the exemption. The point is that the ffiS rules about Medicare benefits can catch some unwary taxpayers who believe they contribute more than one-half the parent's support. The IRS says that the amount received under basic Medicare must be included in figuring support.

In addition, the small monthly premium (recently raised to $5.30 from $4) for supplementary Medicare must be included in calculating what the elderly parent spends on self support. However, any payments made under the program are not included. Also regarded as part of the elderly person's support is the amount received in Social Security payments and other benefits. hrlO Up ANNUAL INTEREST PAID MONTHLY $2000.00 MINIMUM MONTHS INVESTORS GUARANTEE CORP. MORTGAGE CONTRACT BANKERS For more information, call or write 4640 W.

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Slovens, Heritage of Ediiu, 4001 Slmson BouleAJid N.l Min For a quick look at local, national and intcrnation.i turn to "Briefly," Monday through Saturday The Minneapolis H'ar. neapolis, Minn. i lAj aa.AA A dwi, I- ir- f- ij -1 i1 f1 i.