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...Some of the economists expect the oil cartel to go on raising prices from the present average $16.40 per bbl. to about $18 by year's end. Higher fuel costs would both fan inflation and be an added tax on Americans' disposable income, thus prolonging the recession. Otto Eckstein, chief of Data Resources Inc., the economic analysis firm, favors putting a strict limit of 7 million bbl. per day on petroleum imports, which now average about 8 million bbl. daily; mandatory limits would probably result in gasoline rationing. Okun and other board members would increase Government financing...
DIED. Thomas K. Scherman, 62, founder, musical director and chief sponsor of the Little Orchestra Society throughout its 27 years; of heart failure; in New York City. Son of the founder of the Book-of-the-Month Club, Scherman was a prodigy who read music before words, studied with Otto Klemperer, and used his personal wealth to create his own half-size orchestra. Though considered a second-rate conductor, Scherman was admired as an explorer of new music and rediscoverer of such forgotten compositions as Berlioz's L 'Enfance du Christ. He premiered more than 100 orchestral works...
...Otto T. Solbrig, chairman of the Science subcommittee, said yesterday the Science Core listings will emphasize physics partly because the Physics Department presented the most acceptable courses and partly because physics "is central to an understanding of science...
Economics 10, "Principles of Economics," the course with the largest enrollment this year, will become a Core course next year. But the course will remain unchanged, Otto Eckstein, Warburg Professor of Economics and Faculty head of Economics 10, said today...
...Principles of Economics," Otto Eckstein...