Wealthy Chicago Executive Escapes Abductor in Indiana
Melvyn H. Zahn, 34, president of Zahn Drug Co., escaped from two Chicago men who held him for 1.5 million dollars in Michigan City Indiana. He crawled from a bathroom window, flagged down an off duty officer, and led police to the area as the captors fled in separate cars. The men, William Calhoun and George Ferris, were captured after wrecking their vehicles. The FBI said Zahn wrote a ransom note under coercion. he was held after leaving the Melrose Park warehouse Wednesday.
MENTIONED IN THIS ARTICLE
Michigan City
Ind
Chicago
Melvyn H. Zahn
Zahn Drug Co
Zahn
Edward Wojasinski
William Calhoun
George Ferris
Mexican Plan Ives Shrimpers Faces Territorial Water Expansion
Brownsville Texas shrimp industry fears Mexico will expand its territorial waters from 12 to 200 miles. Guy Pete, president of the Brownsville Port Isabel Shrimpers Association, says the move could force local fishermen out of business. President Luis Echeverria announced the proposal in La Paz and will seek support at the next Law of the Sea conference.
MENTIONED IN THIS ARTICLE
Brownsville
Tex
Mexico
South Texas
Guy Pete
Port Isabel
Pete
Echeverria
la Paz
Baja California
Fed raises discount rate to seven percent highest since 1921
The Federal Reserve Board on Friday boosted the discount rate from 6.5 to 7 percent and raised reserve requirements on most demand deposits by 0.5 percentage point to curb rapid money expansion. The action aims to cool inflationary pressures and restrain lending while supporting Nixon price controls.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve Board
New York Federal Reserve Bank
Federal Reserve System
Nixon Administration
Funding Approved for Facility Here
The State Advisory Council for Supplementary Centers Services approved $89 459 for the Carver Junior High School Campus dropout prevention facility in Austin as part of a $4 2 million federal package funding about 80 Texas projects. Amarillo plans to reuse Carver as an alternative high school to cut senior high dropout rates.
MENTIONED IN THIS ARTICLE
Carver Junior High
Austin
State Advisory Council
Texas Education Agency
Carver
Texas
Bob Ashworth
Amarillo
Commissioner Cites Shortages Amid Price Freeze
Texas Agriculture Commissioner John C. White warned Gainesville that Nixon should re assess the federal price freeze to prevent possible food shortages. He cited rising grain prices pushing broiler producers toward bankruptcy and warned the same risk to milk beef and pork if the freeze remains unchanged.
MENTIONED IN THIS ARTICLE
Gainesville
Tex
UPS
Nixon
Texas Agriculture
John C. White
White
Also Mentioned on This Page
Melrose Park
Franklin Park
Louis Zahn
Oak Park
FBI
Federal Reserve
Bell Avenue
Caradit
Sears
Discover America
Tyler St. Amarillo
Helden Syne, Inc
Sears Auto Center
Jacquard
NATO
Sears and
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