Bright Spots Emerge In Energy Crisis As Markets Rally
The Petroleum Industry Research Foundation lowers the 1974 U.S. oil shortage to 2.8 million barrels a day versus government 3.5 million. The stock market climbs for a third straight session as investors seek optimism amid Middle East tensions. Saudi Arabia signals embargo could end early if Israel withdraws from occupied lands and the U S guarantees withdrawal. Congress moves to label cars and major appliances in response.
MENTIONED IN THIS ARTICLE
Sheik Ahmed Zaki al Yamani
Washington
Israel
United States
Congress
Senate
Auto Prices Rise After End of Industry Price Controls
The Cost of Living Council freed the auto industry from wage and price controls, signaling immediate price bumps. Ford GM and AMC plan wholesale increases. Chrysler stayed noncommittal. Contracts with the UAW raised wages and benefits by over seven percent for about 760,000 workers.
MENTIONED IN THIS ARTICLE
Detroit
Cost of
Council
United Auto Workers Union
Ford
General Motors
Chrysler
American Motors
AMC
United Auto Workers
Experts foresee lower short term rates if fuel shortage slows economy
Economists including Herbert Stein and Arthur Okun say a fuel shortage could slow growth early next year, easing loan demand and raising loan supply. Even with tight policy, rates may fall from recent highs as demand weakens, with banks having already raised prime lending to 10 percent.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve Board
Okun
Toilet paper shortage warned by Wisconsin lawmaker
Rep Harold Froehlich of Wisconsin warns a looming toilet paper crunch may hit early next year due to paper pulp shortages and rising exports. He cites GSA buying shortfalls and reports from Sheraton International and Hilton hotels, though some hotel spokesmen dismiss the idea.
MENTIONED IN THIS ARTICLE
Bill Ahearn
Associated Press
Harold Froehlich
House of Representatives
Froehlich
Wisconsin
Hilton Hotels
Drivers boycott Ohio fuel pumps over diesel price and speed limit demands
Cambridge Ohio truckers block pumps for six days demanding lower diesel prices and higher speed limits. Art Smith of Corona California says they will stay until action. IRS and mileage checks spark dispute about jurisdiction. drivers threaten nationwide shutdown if no federal response.
MENTIONED IN THIS ARTICLE
Cambridge, Ohio
Art Smith
Corona
Calif
IRS
Cincinnati
Shenandoah
Jack Elliott
Smith
Washington
Watergate Tie Theory Touched in Hughes Nixon Links
Senate Watergate investigators pursue a theory that burglars sought links between Howard Hughes and the Nixon administration. Chief Counsel Samuel Dash calls the theory viable and based on reliable evidence, though one of several active lines of inquiry. The disclosure emerged from a transcript in a district court hearing.
MENTIONED IN THIS ARTICLE
Hughes-Nixon
Washington
Senate Watergate Committee
Howard Hughes
Nixon
Democratic
Lawrence O'Brien
Samuel Cash
Dash
Chester Davis
Attor
Long to lead full audit of Nixon taxes and capital gains
Senator Russell B. Long said the Joint Committee on Internal Revenue Taxation will pursue a full audit of President Nixon's tax returns beyond two designated issues. The review could last a month or more with findings to be public, not confidential, and may include the $576000 deduction for presidential papers and a $117000 capital gain from the 1970 sale of part of Nixon's San Clemente estate. California tax status expected to be reviewed by the Franchise Tax Board amid Democratic pressure from William M. Bennett.
MENTIONED IN THIS ARTICLE
Washington
Congressional Review
Nixon
Russell B. Long
D-La
Joint Committee On Internal Revenue Taxation
Long
California
William M. Bennett
Bennett
Rockefeller resigns governorship of New York
Gov Nelson A Rockefeller announced his resignation effective next Tuesday and said he would not seek a fifth term as New York governor. He plans to devote time to two bipartisan groups the Commission for Critical Choices for Americans and the National Commission on Water Quality.
MENTIONED IN THIS ARTICLE
Rocky
N.Y
Nelson A. Rockefeller
New York
Commission For Critical Choices For
National Commission On Water Quality
Weather report notes variable cloudiness and mild next days
Variable cloudiness not so cold tonight with lows between 20 and 25. Fair and warmer Wednesday with highs from 40 to 45. Details, Page 3.
Teen delivers fortune from pawn tickets after kind act
In New York a teen delivery boy who helped an aged widow by taking pawn tickets and valuables turns them into nearly $50,000 at auction. The 19 year old, now a college student, describes the tale as a fairy tale as more auctions and a trust fund follow from the widow Mrs. Thomas Field who left him the apartment contents and a $500 monthly income.
MENTIONED IN THIS ARTICLE
New York
Jackie
Knox
Sotheby Parke-Bennet
City University
Bernard Baruch College
Fifth Avenue
Thomas Field
Florida
Also Mentioned on This Page
Dudley Lehew
Petroleum Industry Research Foundation, Inc
U.S
Middle East
Russell N. Holbrook
Cambridge
Mass
Internal Revenue Service
John T. Dunlop
Lynn
Townsend
Herbert Stein
Council of Economic Advisers
Arthur M. Okun
Lyndon B. Johnson
General Services Administration
GSA
Marriott Hotel
Atlanta
Regency Hyatt Hotel
Buffalo
Jerry Castiglia
Hilton Inns
The
Sheraton
Nashville, Tenn
Sen. Long
Saxbe
William B. Saxbe
Atlantic
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