Nixon Devalues Dollar 10 Percent in New Crisis Move
President Nixon announced a 10 percent dollar devaluation at a late night brief from Treasury Secretary George P. Shultz, the second such move in 14 months. The action, meant to ease world money markets, raises import prices while lowering U.S. export costs and signals broader trade reforms and capital controls.
MENTIONED IN THIS ARTICLE
Washington
Nixon
U.S
Treasury
George P. Shultz
Shultz
Workingman
International Monetary Fund
United States
Congress
Europe
George Shultz
Prisoners Readied For Return Home From Clark Air Base
U S POWs of war sign valentines and enjoy hot showers and American food as medical checks and processing begin for 142 men released in Hanoi and jungle confinement. They prepare for possible Thursday or Friday flight to Travis Air Force Base California amid high spirits and strong camaraderie.
MENTIONED IN THIS ARTICLE
Clark Air Base
Philippines
United States
Hanoi
South Vietnam
Travis Air Force Base
California
Clark
Coal firm sues UMW for 172000 over mine strike
Southern Ohio Coal Co. of Langsville sues the United Mine Workers Union in U S District Court in Columbus seeking 172000 for an alleged illegal Jan 22 24 strike at its Meigs County mine over the use of a non union contractor to haul coal. Mrs. Harry S Truman marks her 88th birthday in Independence with no plans for a celebration. she notes her husband’s recent death and burial at the Truman Library.
MENTIONED IN THIS ARTICLE
Columbus, Ohio
Southern Ohio Coal Co
Langsville
U.S
United Mine Workers Union
Meigs County
UMW
Independence
Harry S. Truman
Bess
Truman
White House
Lyden former Ohio AFL-CIO chief dies at 93 in Youngstown
Michael J. Lyden, president emeritus of the Ohio Federation of Labor from 1934 to 1958 and first AFL-CIO Council president, died at his Youngstown home at age 93. Funeral services pending. He is survived by two sons and three daughters.
MENTIONED IN THIS ARTICLE
Youngstown, Ohio
Ohio Afl-Cio
Michael J. Lyden
Youngstown
Lyden
Ohio Federation of Labor
Afl-Cio Council
Weather Eases in South After Snowstorm Paralysis
The Associated Press reports rising temperatures help finish snow clearing on South Carolina highways and free over 16 000 stranded motorists. Gov John West asked President Nixon to declare a disaster area for 31 of 46 counties after storms dumped up to 23 inches. West said major roads should be open by noon. Death toll includes 12 in South Carolina and three in Georgia. melting snow also noted in Alabama and Georgia.
MENTIONED IN THIS ARTICLE
South Carolina
John West
Nixon
Midlands
Seacoast
West
Two Gunmen Surrender After 8 Hour Hostage Crisis
In Dallas Texas two teenage gunmen Milton Allen Frank 18 and Robert Gordon 17 released 22 hostages over eight hours and surrendered at 8 46 a m EST after a long police dialogue. Authorities had awaited father Milton Frank from Las Vegas to assist surrender.
MENTIONED IN THIS ARTICLE
Dallas
Tex
Milton Allen Frank
Las Vegas
State Mental Hospital
Terrell
Robert Gordon
Frank
Gordon
Nev
Ohio judge blocks payment of state private attorney fees
A Franklin County Common Pleas Court temporary restraining order halts payments to private lawyers hours after the State Controlling Board approved two fee claims. State Rep. Frederick Young sought the order, opposing the payouts on constitutional grounds. The cases cover 27,372 for two lawyers in the 1971 72 reapportionment and 7,900 in a class action against former Gov. Rhodes.
MENTIONED IN THIS ARTICLE
Columbus
Ohio
Franklin County Common Pleas Court
George Marshall
Thomas M. Hughes
Frederick Young
R-38
Dayton
Young
James Rhodes
Jerome Welch
U. S
Higher Prices Seen For Foreign Items
The 10 percent dollar devaluation will raise US prices for popular imports like Japanese tape recorders German cars and French wines. It may also boost US export competitiveness though not uniformly as Canada and Britain with floating currencies are less affected. Fixed rate nations West Germany and France push some price increases. A $2000 German car could cost about $200 more and a $5 bottle of French wine around 50 cents higher.
MENTIONED IN THIS ARTICLE
U.S
Congress
Shultz
Japan
Tokyo
Finance Ministry
Bank of Japan
West Germany
Canada
Great Britain
John Turner
Washington
U S
France
Slowdown Likely at OSU Over Union Grievances
James Ervin president of Local 138 of the State Employees Union says OSU may face a work slowdown or strike later this week. About 2,500 workers protest grievance procedures and private firm contracts, citing outside pie suppliers and union bakers doing cleaning tasks. He also criticizes limited authority for the labor relations administrator to resolve grievances.
MENTIONED IN THIS ARTICLE
Columbus, Ohio
Ohio State University
OSU
James Ervin
Ervin
Carl W. Sturm
Devaluation of U S Dollar Stirs Markets Worldwide
London reports most foreign exchange markets stayed closed as governments assess effects of the U S dollar devaluation. West German government welcomed Washington’s move while officials weigh economic repercussions and currency adjustments across major financial centers.
MENTIONED IN THIS ARTICLE
London
U.S
Washington
Devaluation shifts global currencies and markets
The article reports a new U.S. devaluation and its ripple effects. It covers the dollar’s drop against currencies, responses from Finance Ministers in the nine Common Market nations, and commentary from French, Canadian, and Israeli officials. It notes expected inflation impact and potential long-term effects on trade, jobs, and the world monetary system.
MENTIONED IN THIS ARTICLE
United States
U.S
Smithsonian Institution
Treasury
Paul A. Volcker
Japan
Brussels
Valery Giscard d’Estaing
France
Paris
Ottawa
John Turner
Alastair Gil
Also Mentioned on This Page
John Hestand
Cheryl Ann Hestand
Bonnie Thiel
Justice, Ill
Chicago
Army
James H. Hestand
Clark Afb
Meigs Coal Firm
Mrs. Truman
THE
Associated Press
Georgia
Alabama
Joe Matheny
Rt. 2
Nelsonville
Kuch Aichi
Frankfurt
Lespie
Israel
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