Market Slowed By Unemployment Surge
New York AP reports the stock market fell broadly as unemployment rose to its highest since 1941. The Dow fell. losers outpaced gainers by more than 2 to 1 on the New York Stock Exchange.
07 Feb 1975
Page 1
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Newspaper
Aiken Standard
Location
Aiken, South Carolina, United States of America
Date
Feb 07, 1975
Page
1
New York AP reports the stock market fell broadly as unemployment rose to its highest since 1941. The Dow fell. losers outpaced gainers by more than 2 to 1 on the New York Stock Exchange.
A bomb exploded at KRON TV in San Francisco causing no injuries after a caller claimed ties to the New World Liberation Front. Police say the Bay Area has endured 22 terrorist bombings in two years with federal buildings banks and oil firms among targets.
Two elderly sisters from Rockaway Queens were arrested on arson charges in a suspected ring that allegedly touched more than 400 fires and millions in insurance claims. Also charged is real estate man Shiffman. an undercover Fire Marshal Russo acted as the torch.
The FBI paid a poverty law program employee to spy on black activists in New Orleans, with possible informers in other legal aid programs. Officials say this is the first public disclosure of covert intelligence gathering on militant groups within federal legal aid. The informer worked April to November 1968.
The Associated Press reports that Lebanon will receive 62 million dollars worth of Soviet arms from several Arab nations to bolster defenses against Israel, along with 28 million dollars for rebuilding southern villages destroyed in Israeli actions. Weapons reportedly include surface to air missiles antitank missiles and torpedo boats. Sources say Syria Iraq and others will supply the arms with funding from Saudi Arabia Kuwait Libya the United Arab Emirates Egypt and Morocco for reconstruction.
Sanford Florida AP Glenn Turner a traveling salesman cannot be extradited to New York under Florida law because extradition applies only after jail escape or bond parole or probation violations Circuit Judge Richard B Muldrew ruled the extradition papers signed by Governor Reubin Askew last fall are invalid Turner had not violated any such terms and did not escape from jail
The forecast calls for sunny skies in most of South Carolina today with a chilly morning. Highs near 50 degrees today and in the lower 50s tomorrow, followed by lows in the lower 20s tonight and tomorrow night with near zero rain chances.
The Chamber of Commerce hosts the Triple Crown event start March 1 at 1 p.m. with the Lancers Tournament featuring bagpipe music and horseback musical chairs. Advance tickets are 1.50 adults 1.00 children, gate price 2 for adults.
Aiken County Board of Commissioners moved to give leasing control to Sheriff Paul D. Grant after rejecting Satcher's 12 month bid for 35 cars at 290 dollars per car. The board voted 5-2, citing attorney general guidance and ordinance 74-6-18, though the ordinance requires at least three bids. Grant would decide spending within the AG ruling, with potential yearly savings of about 10 630 dollars at 15 dollars less per car per month, using standard sedans. Some members voiced ethics concerns, fearing reopening could be discriminatory.
The U.S. unemployment rate rose to 8.2 percent in January, the highest in 33 years, with 7.5 million unemployed. Heavy layoffs hit blue and white collar workers, teens, women, and men across the economy as the recession deepened. The Labor Department cautioned the rate could rise further despite White House forecasts.
Aiken schedules a public hearing Monday Feb 24 at 7 p m to discuss a 24 6 percent rate hike sought by SCE G Rep Irene Rudnick’s office says PSC member Rudolph Mitchell and staff will attend with a court reporter to take testimony from residents The hearing is sponsored by the Aiken delegation and may be held at the Aiken County Courthouse.
Crime rates rise in Aiken and across the nation with January counts showing armed robberies, break ins, larcenies, assaults, and few rapes or murders. City and county police urge public vigilance and prompt reporting to compensate for limited patrols.
South Carolina Senator Ernest F. Hollings will appear in Aiken Tuesday from noon to about 1 pm at the Heritage Room of Farmers and Merchants Bank. The event, sponsored by the Greater Aiken Chamber of Commerce, invites residents to ask questions and meet the senator.
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