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Abilene Reporter News Newspaper Archive: September 23, 1974 - Page 1

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Publication: Abilene Reporter News

Location: Abilene, Texas

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   Abilene Reporter-News, The (Newspaper) - September 23, 1974, Abilene, Texas                                WITHOUT OR WITH OFFENSE TO FRIENDS OR FOES WE SKETCH VOUR WORLD EXACTLY AS IT 94TII YEAR, NO. 98 PHONE 673-4271 ABILENE, MONDAY EVENING, SEPTEMBER 23, PAGES IN THREE SECTIONS Price 15 Ccills Associated Press Rainwater Cup Runneth Over True Fish Story A low street in Will Hair Park turned into a shallow fishing stream Sunday afternoon for several dozen peo- ple who were scooping up fish in nets. A string of fisli in the'foreground shows one fisherman's success.'The water re-. suited from overflow of Cedar Creek which winds through Hie park. (Staff Photo by Jon Gates) By ELLIE nUCKIJIl 20 Aggie Photos Fail to Make It Q. Add me (o lis  ABILENE AND VICINTTY radius) Cloudy viiln a align t chance cf occttjional lighl rain Today Ihrough Tuei- tioy. Conlinued cool. soutaemterJy S to 15 mph, Hrgh today 'rt upper Uh. Torvglit In upper 50s. Tuesday r.ccr 7J. of rain W per cent inrcijgn Tuesday. High ond tor ?i hours trJirq 9 a m.: and 54. Hlqh Ond :ornfr dole last year; BJ arxi 47. SL-nrisp Today: sunstl lon'sil- sunrise lomorrnvj; Rocky: 10-Year Tax Tab Million By CARL P. 1-EUnSnORF Associated Press Writer WASHINGTON (AP) Nel- son A. Rockefeller lold Ihe Senate Jlnles Committee loday he earned nearly y? mjllion and paid more than 521 mil- lion in laxcs over the past JO years. The former New York gov- ernor opened his vice presi- dential confirmation hearings wilh n statement, crammed with financial data ahout Ihe Rockefellers' world- wide investments and lidhils of family and personal histo- ry. He promised Ihal, "should I become confirmed and should Congress request, I will place immeilialoly all my securities which I own outright" into a blind tntsl while he retains federal oflicc. Sen. Howard Al. Cannon, D-iVcv., Ihe chairman of Ihe. Unlcs Committee, said on Sun- day the panel will consider thai possibility, bul he ex- pressed reservations aboul im- posing a requirement oh Rock- efeller the require- ments of Ihc Constitution. In his Rockefel- ler detailed his career in na- lional and slate ing his three unsuccessful bids [or Ihe presidency. Me sajd.Ihc "most evcnl'of his governorship was Ihe loss of lives al Allies Slnlc Prison in 1071, bill he defended his decision lo an inmate rebellion as Ihc "best al Ihc time under all of Ihc existing circumstances." Korly-thrce persons died as a result of the uprising, most of Ihcm when law o f f i c c r s stormed the prison behind a fusillade of rifle and; shotgun fire. In his financial disclosure, he failed lo answer questions about the over-all extent of his family's economic power, omitling information on stock holdings of Rockefeller-con- trolled tax exempt, foundations and of hanks and companies .in which, his family has a sub- stantial interest. Highlights of his financial disclosure included: no! personal worth as of Aug.' 23 was million with more lhan half 533.5 million of his million in asscls accounted for by arl holdings, million in slocks and bonds of some 50 companies, and million in real estate. two trusts from which he is a life beneficiary, tolal- ing million and 310.2 million, have Ihc bulk of their lioldings in slock of 17 compa- nies, including approximately J25.5 million in Rockefeller Center Inc. in New York; million in Exxon, the nation's biggest oil company and million in International Busi- ness Machines lolal income for Ihc past 10 years was million, his charilnblc contri- butions million and his federal, slalc and local taxes million. In 1570, "my to- tal federal, slate and local taxes were down lo and he paid no federal income laxcs because of "major shifls" in Ihe trusts' invesl- menls on which they paid million in capital gains taxes. in oil companies thai were once part of Ihc Standard Oil Co. founded by his grandfather, John D, Rockefeller, "have been re- duced to nominal percen- tages." Total lioldings, person- al and in tnisls, of his Ibree brothers, sister and Iheir chil- dren and grandchildren are 3.S million shares of Standard Oil Co. of California, or per ccnl of ils shares; 2.1) million shares of Kxxon, or 1.07 per cent of ils shares; and l.S mil- lion shares of Mobil Oil Co., or 1.75 per cenl of ils shares. Rockefeller lold the panel lie appears "with a sense of hu- mility and a deep awareness of the historical significance of these noting Ihal the vice president it approved 11 months ago is now "Ihc firsl President of Ihis country ever to hold office withoul being elected by the people. "The change of national leadership Was accomplished, aflcr Iwo years of travail, on an orderly basis within the framework of Ihe Conslilii- lie snici.   

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