comment on 2-month-long, nationwide festival of Japanese arts and culture; festival is under sponsorship of National Humanities and Arts Endowment, Matsushita Electric, Japan Foundation and Japan-US Friendship Committee; various offerings noted; illus (L)

Japan Unveils A Cultural Festival In New York

Carter Shows a Lot of ‘76 Political Magic Remains

NYC Estimate Bd to conduct auction among 6 competing cos for interim contract to operate 500 bus shelters until long-term franchise is awarded; cos named; NYCTA has also entered bid to operate shelters (M)

City to Auction Bus‐Sheffer Pact This Afternoon

Consumer prices climbed 1 percent in March, keeping inflation firmly in double digits, the Government reported. The March increase produced the fastest rate of gain in living costs in the first quarter in four and a half years, the Government said. Prices rose at a compound annual rate of 13 percent in the quarter and were up 10.2 percent in the 12 months through March. Costs of food, energy and housing showed the sharpest increases. [Page Al.]

BUSINESS Digest

Pres Carter formally sends his proposal on windfall profits tax to Congress; says he will fight inclusion of 'loopholes that you can sail an oil tanker through,' reference to so-called 'plowback' provisions; Repr Al Ullman predicts quick approval; Shell Oil president John F Bookout tells stockholders that tax would result in only partial decontrol of domestic oil prices (M)

Carter Asks Congress for Oil Tax; Pledges Again to Fight ‘Loopholes’

The General Public Utilities Corporation voted yesterday to halve its dividend and to cut its spending for new construction, the salaries of executives and directors and stock&#8208;option plans to help cope with the costs incurred in its Three Mile Island plant's nuclear accident.

General Public Cuts Dividend

illus of chandelier in Radio City Music Hall's Grand Foyer being lowered as restoration of theater begins

Radio City Chandeliers Become Party Lights

UNIONDALE, L.I., April 26 &#8212; With the nerve of a city slicker fleecing a smalltown rube, the Rangers stunned the Islanders tonight by winning the opening game of their Stanley Cup semifinal series. 4&#8208;1.

The New York Times/Marilynn K. Yee

News Summary

Consumer Price Index rose 1% in Mar with food accounting for steepest increases; 3.6% rise in beef and veal prices accounted for 40% of food price increase (S)

PRICES CLIMB BY 1%; YEAR'S.RISE TO DATE AT 13% ANNUAL RATE

GM and Ford rept record 1st qr profits, GM's earnings were $1.26 billion and Ford's $594.8 million (M)

G.M., Ford Quarter Net Up Sharply

The new Symphony Space, Broadway and 95th Street, has already become a familiar place for West Side concertgoers. Tonight, the hall will begin an effort to lure dance buffs, as well. Ballet Hispanico, opening two&#8208;week season, will be the first dance troupe to set foot on the renovated stage. The opening program, which starts at P.M., gives a good idea of Ballet Hispanico's diverse repertory &#8212; works by Alvin Ailey, Geoffrey Holder and Louis Johnson. This program will be repeated tomorrow night at 8. Sunday afternoon at 2, the company will perform dances by Tina Ramirez, Paco Fernandez, Mr. Ailey and Mr. Johnson. Tickets are $4 ($3 for students and the elderly). Reservations: 38243710.

WEEKENDER GUIDE

Article on British election campaign focuses on campaign styles of Callaghan and Thatcher; holds Callaghan's campaign goal is reassurance, compared with Thatcher, who is an intense and hectoring Conservative leader; latest Gallup Poll shows Conservatives ahead by only 5 percentage points, a substantial decline over last week; campaign issues, including general strikes last winter, noted (M)

For Callaghan, Campaign Goal Is Reassurance

John Rockwell article on NYC discotheques where patrons dance not to disco music but to rock-and-roll music (L)

Rock Meets Disco: Where To Try It

Israel's decision to accept ceasefire with Palestinian guerrillas evokes criticism as well as approval from Israelis; Safad Mayor Aharon Nachmias says guerrillas were on verge of collapse but will be able to recover and stage more attacks, telegram to Weizman (S)

ISRAELIS AND P.LO. AGREE TO U.N. TRUCE; BOMBARDMENT ENDS

Gould Inc offers nearly $300 million in cash and stock to acquire co; NYSE acknowledges that investigation is underway into advanced trading in Fairchild stock as result of persistent takeover rumors; Gould chmn William T Ylvisaker comments; illus (M)

Gould Offers $300 Million for Fairchild

Mayor Koch proposes $12.8 billion expense budget for fiscal '80 that would cut number of teachers and sanitation workers and temporarily reduce number of police officers on patrol; budget proposal also includes 10% reduction in number of jobs allotted for social-service and park workers; holds overall manpower cuts to below what had been threatened; table shows estimated full-time employees in various city agencies (M)

Expense Budget Of $12.8 Billion Offered by Koch

Rise of American Stock Exchange's market-value index is attributed to heavy representation in oil and gas companies, especially those in Canada (M)

Amex Booms, Aided By Fuel Price Rises

Nuclear Regulatory Commission will announce on April 27 whether it will close 9 plants powered by Babcock & Wilcox reactors; NRC chmn Joseph M Hendrie says further delay is needed to give staff more time to discuss its recommendation; postponement appears to reflect intense debate within agency over whether risk of another accident like that in Pennsylvania is great enough to incur financial and political costs of precautionary shutdowns; NRC director of reactor regulation Harold R Denton says 'we do not have reasonable assurance that these B&W plants can continue to operate without undue risk' (M)

DECISION OFF AGAIN ON NUCLEAR PLANTS

NY Federal Reserve Bank repts M-1 rose $4.1 billion and M-2 $4.1 billion in week ended Apr 18; number of analysts blame Fed Reserve's monetary policy for worsening rate of inflation; Nov '78-Apr '79 M-1 graph; table of Reserve data (M)

Big Surge In Supply Of Money

Harlem Urban Development Corp presents report on planned construction of $95 million international trade complex on 125th St, NYC, to Vice Pres Mondale at State Office Bldg; Mondale pledges Carter Adm's support; Repr Charles B Rangel, who is credited with idea, accompanies Mondale; illus (M)

The New York Times/Edward Hausner

Michelangelo At Morgan

CAB, 4-0, approves merger with Southern Airways into new carrier to be named Republic Airlines; will adopt order May 10 and forward it to Pres Carter for final decision (S)

C.A.B Approves Linking Southern, North Central

3d day of strike finds tenants and strikers showing signs of increasing distress; NYC Health Dept begins to check complaints of possible health hazards as garbage piles up; Service Employees Union Local 32B-32J says about 200 independent employers have signed agreements with union; illus (L)

Problems Increasing in Building Strike

striking officers, picketing outside Elmira State Correctional Facility, comment on reasons they walked off their jobs; illus (M)

Striking Guards ‐Say They Are the Prisons’ Real Inmates

Oleg Aleksandrovich Prudius better known by his ring name Vladimir Kozlov, is a Ukrainian-American actor and professional wrestler. He is best known for his time in WWE, where he won the WWE Tag Team Championship once with Santino Marella. He is trained in freestyle wrestling, rugby, football, sambo, kickboxing, judo, jujutsu, Brazilian jiu-jitsu and mixed martial arts.

April 27, 1979

Headlines from April 27, 1979

Japan Unveils A Cultural Festival In New York

Carter Shows a Lot of ‘76 Political Magic Remains

City to Auction Bus‐Sheffer Pact This Afternoon

BUSINESS Digest

Carter Asks Congress for Oil Tax; Pledges Again to Fight ‘Loopholes’

Billboard 200

Minute By Minute

Spirits Having Flown

2-hot

Dire Straits

Desolation Angels

Notable Births

Historical Context for April 27, 1979