Lawton Constitution And Morning Press, The (Newspaper) - August 3, 1973, Lawton, Oklahoma Nixon wants changes The in financial system Cochise County's ONLY Daily Newspaper Serving Prieta Sulphur Springs Valley Friday August 3, Vol. 71 No. tl 10 i WASHINGTON Nixon today proposed jor changes in the country's including ing out interest rate ceilings on savings and other bank deposits over a 5Vi-year The recommendations include inducements to banks and institutions to lend mere money lur home gages by providing a tax credit on the amount of mortgage In savings and loan associations would be able In offer checking account services and the so-called NOW counts would 02 authorized both commercial banks and savings and loan NOW stands for Negotiable der of Withdrawal and provides lor negotiated rales of interests on checking There were seven major changes in the financial age released al the They followed a study of ilic country's financial in- initiated by the dent in 1971. Deputy ol Treasury William E. Simon said in explaining the proposed changes that the tilling is right because arc in a period could be classified this ment as an interest rate Simon said he hopes the posed changes can be ready for presentation to Congress in September and thai beanies can be held beginning in Octo- He described the proposed changes as first major re- structuring of our financial tem since 1805 without 3 crisis being He emphasized at a news briefing that a major goal of Ihe changes is to maintain a flow of deposit money info banks and savings and leap in- by lifting the interest rate Simon said that in a period of rising interest alion at lend tu invest in areas of the economy where can get higher rates of interest than banks and ings and lean institutions can said in his and the increased competition that would should reduce the cost of Hie entire package of services for the con- He said the consumer who saves his money would be sured a fair return on his ings and that increased com- petition among banks and thrift institutions would help ate inequities now im- posed upon the small saver and The present ceiling on inter- est tor accounts is ii to 5'-'i per cent. can gel 11.5 per cent interest on bills and per cent on called commercial uy one business to News Americans injured in Nogales jail riot Digest SPACE Houston While launch crews at Cape Kennedy worked around the clock to prepare a rocket for a possible emergency the Skylab 2 astronauts day continued working in their orbiting hopeful of completing a lull 59-day The Apollo command ship de- signed to ferry the back to earth 25 lost half its rocket power a very serious spacecraft ager Glynn S. Lunney lold newsmen soon after the lem was discovered did nol a rescue ne would be in the direction ol getting Hie as rapidly as Mex. Seven prisoners in the local city including an Arizona were injured day during a a Nogales newspaper said injured American was identified as Bob 31. of. lie was part of a group of nine and Canadian being held at the Lee a cut on me from a broken but was reported to be not the newspaper Accion Fiario reported Thursday the ance was to the and was nol an escape attempt or Other American in the jail are John 24, Richard 30. Richard and Gary 31, all of the Canadian is ard The Nogales paper said order had been restored by Thursday and jail officials were to learn cause of Names of oilier Americans being held were not Mrs. Richard Herrick staying in said day night she went to the to visit her husband but did not go very serious she She said Burk was a passer ger in her husband's plan which crashed in Mexico about lour was charged illegal entry and drug charges laler were she flying about live months also crashed in charged drug Mrs band was lo 11 pickup some en- try declined for Morris and although said ihe s area Members cf the Senate County and Municipal Affairs Committee met with Cochise County to discuss state and municipal Making up the group were front row Rep. Craig Sen. Scott Committee hearings held Sen. Bess Second row Sen. Jamel Rep. Americo and Rep. College Senate affairs area residents discuss problems PENH A major new thrust toward Penh tum today as insurgent forces battled government troops only three miles from the field reports said an mated 500 of Hie rebels cut Highway 1 close to tiie village of Veal cast ol the H was the csl the insurgents have come to Phnom Penh in such strength and the thrust threatened of ihe entire eastern defense In United preme Court Justice William O. Douglas today holds a hearing in on a request overturn order blocking a federal court ruling that the U.S. bombing of Cambodia is WASHINGTON The u s I i c e today planned to disclose whether it will its oi the deaths ol four Kent Slate University students by tional Guardsmen in 11J70. action stems from Gen. Elliot L Richardson's der launching a sudden new re- view of the department's An unM 1971 decision to drop the case without grand jury in- Heavy rains ruin homes Some 20 homes were aged and at least three families evacuated when runoff from heavy rains flooded about a quarter-mile area of the South Bernalillo County road crews dug ditches with bulldozers drain the estimated lons of standing water and four county pumper crews helped lower pools of water tip to four feet The National Weather Service said the area received than inches of rainfall Adding to Ihe ation was an irrigation canal culvert that became partially blocked by said Jos Chavez of the County Highway Chavez said about 60 families were affected by the damage and at least 20 homes were Officials said the damage fencing and other lic facilities was Gray admits reading files WASHINGTON For- polled because ne went lo the mcr acting FBI Director L. Patrick Gray III said today he distinctly recall that I was nevei directly ordered burned them during destroy sensitive files given in week with the and him by John D. Ehrlichman or household paper he John W. Dean 111 there and is. no doubt in my mind thai destruction was in- tins point 1 had nut i examined the Bui im- mediately before pulling them in the iire I opened of he he read some of files before burning It contained appeared to who resigned as acting topjes ot top secret State in released the Department Gray text of his opening statement m advance of appearance du or the Watergate lhe hul lho of In it. he took issue with Ihe flf of witnesses m- administration in the tion of President Dem of I had no reason then 10 doubt Ibe authenticity of the was shaken al I There been liiat tne cables were forged by one of tiie convicted in link President K. Kennedy eluding Ll. Gen. Vernon A. the deputy director of Ihe Central preceded him beloie the Gray he met with then ihe domestic and then the White House June days after ihe break-in at the Watergate lices of the Democratic said io the thing very close to has The come out of something thai wains lo turn Hunt's White complex over to He which was opened shortly said Dean laid aim two Miter lie was implicated in the folders Watergate of sensitive and Gray said lie thumbed classified papers of political through the other cables in the nature thai Howard Hunt had which appeared to be been working of the first and did said that they have nnt absorb Ihe subject mailer tional security implications or the correspondence and do have absolutely nol of my own nothing lo do wilh Watergate it and liave no bearing on lhe Wa- on two tergate investigation sions Gray Dcan Mr. Dean or Mr. Ehrlichman White House's said thai these should nut Watergate he would be be allowed to confuse or muddy directly to Ihe issues in Ihe Watergate man or Gray said he look Hip files pill on a lo shell under his dray brought them lei his office ami Whereas repeatedly into his personal safe two or ihal he had gone to see three weeks While House Ihe best of im lion 1 removed the files to nu home in in he could late or idling him or thai IP i Graj Mill Ills had miked with lhe plan lu bum the was As provided hv lher Fire Temp. High this 9R Low fiS 72 Low this lo date Tomorrow's Tomorrow's Saturday wilh noon and nighttime A frw wei's more numerous both days ftf In lows lo 75. Bisbee 8li Douglas Sierra 87 72 Arizona weather was thing but Moderate to out by midday in and along nm southeast ol By jhe where a tew die-hard cells continued Mie Yunia well v. as the 1 p.m. when a tunnel cloud reported south ol The atul H minutes lalor 11 lew utes laler with no but before Ihe had deposited Not lo stalf reported hail east during their ly afternoon period of In recorded usual during the evening hours winds 3.'! and a trace of rain al the A lew locally heavy showers nul sparsely populated during I lie horn s prior to midnight bin were light in Today's Deaths died lui died in Irom to I t e e in e ir. h e r s and also 10 A. mayor throughout the clay in addition lo Sen. by Ihe v mi tiie Senate County and were Sen. Hess Highway ol the and ol Municipal as Sen. Traffic Circle ity h a al of a local College Craig Davids by America ol Scoil i- in the Edward of discussion in deals with ol Clobe and Thorns of ami Sania Cruz lor ol prevailing wage tiie and 1'ima County plus per diem In- Ihe ol The on Ian Son I. on of t workmen from mon bv persons ap behalf of County was ine that aiva on public b. the lho bv build a Inn in the com- in or oilier procedure is lo voice of the His presentation public appearing In mailers I a lame in Paul serious in the Lillle Thaler from r a s s I e v. al the military Launch crews prepare rocket for possible rescue 11 usit kini hoped tiy 11. ine 2 planned til he i ul The In ir. around n. r ID ruckeL as a un have liisi Jnr a y in in MI in lo tv up lust iii the Alan L. K. if is more in- Need an extra license stays head south for Alabama Ala. lhe Inell oi I in show il is In a ol lhe r Angus 1'lia-ivvn-k. license a car in His cai a von liave lo do walk in cars year Thursday no funds one lor a i Hie c- or a had vise lor lo a where and lo Alabama 111 i mini mon lean and von Ine he was slate poll ma A jury County at Seima did al only linn live on i mail a rural sale ol One car s ol were a Maine earn lor a- lhe i-ii cars IN re- alinn and Ten 1'euer I ear nickel in in lhe an lin -ni ihe aas tins of lhe noi c. lhe paid in h in r lhe 20U a ul lor ars a
