March 14, 1978

US and W Ger announce series of joint actions to stabilize value of dollar and to demonstrate greater agreement on basic econ policy; moves, taken by US Sec W Michael Blumenthal and W Ger Sec Hans Matthofer, will add $2.74 billion worth of W Ger marks to US stockpile of foreign currencies that can be used to buy dollars on mkts and thus keep their value from falling on internatl exchs; W Ger is to make available $2 billion in marks, giving US ability to enter public mkt, buy up dollars, mop up excess supplies and thus relieve downward pressure on price of dollar; US further signals willingness to borrow if and as necessary up to $5-billion from IMF for same purpose; Fed Reserve and Bundesbank double amt of their own swap facility, to $4 billion, from $2 billion, and US says it will sell $740 million of its SDRs on IMF; other measures detailed; dollar still tumbles following announcement; Repr Henry S Reuss comments; Matthofer illus with W Ger Central Bank pres Otmar Emminger (L)

New Eng Aquarium, Boston, begins transferring 284 occupants from 250,000-gal tank in preparation for draining tank and replacing damaged window; diving supervisor George Nally and aquarium curator Lou Garibaldi comment; dir John Prescott notes schoolchildren and several hundred other onlookers have been invited to watch procedure as learning experience; illus (M)

Gen Dynamics Corp says it will halt work on 16 nuclear-powered attack submarines because of dispute with Navy over design changes and cost overruns of more than $544-million; says production will cease on Apr 12, and will affect nearly 14,000 employees at Groton, Conn, shipyard; Sen Claiborne Pell scores announcement; suggests it is intended to force issue into cts in hope of getting better settlement of claims than may be obtained through negotiations with Navy; Navy Sec Claytor says necessary action will be taken to protect public and natl defense interests; Conn and RI Govs Ella Grasso and J Joseph Garrahy and members of their Cong delegations meet with Navy officials in Washington; factors behind dispute detailed; illus; map (M)

Mar 14: Begin says Israel will 'cut off the evil arm' of Palestinian guerrilla orgn responsible for raid, speech, Parliament; says guerrillas were equipped with Soviet weapons; urges Western nations to expel PLO reprs; says 37 civilians were killed in raid; Israeli police say 32 persons were killed and 76 wounded; illus (M)

Oil analysts predict that US will consume less foreign oil in '78 than it did in '77-perhaps 5% less; expect imports to resume rise in '79 and '80, but at slower pace then they have in past--possibly at rate of only 2% a yr or less between now and '85; API repts that Jan imports were only 7.8 million bbls a day, down from 8.9 million bbls a day in Jan '77; difference is expected to increase in Feb; comments and forecasts by Lawrence J Goldstein (Petroleum Indus Research Foundation) and Theodore R Eck (Indiana Standard) noted; graph of imports '70 to '78 (M)