President Ford launches WIN buttons in inflation fight
In a Washington address, President Ford unveils the WIN symbol to spur inflation reduction and energy saving. He says volunteers will be drawn from media and 18 distinguished people will man a volunteer program, with no new federal bureaucracy. The American Newspaper Publishers Association urges newspapers to publish the enlistment coupon.
MENTIONED IN THIS ARTICLE
Washington
Ford
America
Congress
Maine
White House
WIN
Washington, D.C
American Newspaper Publishers Association
Ford urges tax rise to curb inflation in anti inflation plan
President Ford urged Congress to accept higher taxes and reduced energy use as part of an anti inflation program aimed at job creation and increased production. He proposed a 5 percent surcharge on income above $15,000 for couples and $7,500 for singles, with a one year duration. Congress sought quick action on spending limits and a $3 billion home market initiative as talks stretched toward a Friday deadline.
MENTIONED IN THIS ARTICLE
Ford
Congress
Washington
Senate
Hugh Scott
Jacob K. Javits
New York
Carl Albert
Paul Fannin
R-Alix
John C. Stennis
D-Miss
William Brock
Rtenn
Congress divided over Ford tax plan on middle incomes
Congress shows limited support for President Ford’s 5 percent surtax on family incomes above 15000. Senate and House leaders spar over thresholds while business leaders back the plan noting its aim to curb inflation. Some critics urge spending cuts first and closing tax loopholes before raising middle earners’ taxes.
Terrorists Drop Demands as Hostages Near Release
Six leftist terrorists have agreed to release seven hostages held for 12 days at the Venezuelan consulate in Santo Domingo in exchange for safe conduct out of the Dominican Republic. Negotiations continue on final details as officials assess flight options and receiving countries.
MENTIONED IN THIS ARTICLE
Santo Domingo
Dominican Republic
Robert Hurwitch
Hurwitch
Mexico
Peru
Algeria
Joaquin Balaguer
Barbara A. Hutchison
U.S. Information Service
Ford outlines inflation busting plan to Congress
President Ford proposes a package to curb inflation including a 5 percent tax surcharge on corporate and high income taxes, expanded investment credits, a 13 week unemployment benefit extension, 100000 new housing units, energy cuts to reduce imports, and stronger antitrust penalties. He says crops won’t be affected this year and food prices may still rise next year while urging citizens to conserve resources.
MENTIONED IN THIS ARTICLE
Ford
New York Bank Franklin National Fails Largest U.S. Insolvency
Franklin National Bank of New York, once the 20th largest, is insolvent and assets worth 1.7 billion have been sold to European American Bank & Trust Co. The FDIC will liquidate remaining assets over three years to repay the Federal Reserve.
MENTIONED IN THIS ARTICLE
New York
Franklin National Bank
Treasury Department
Europe
Frank Wille
Federal Deposit Insurance Corp
Franklin
Bradford Trust Co
New York State Banking Department
FDIC
Bank
Federal Reserve System
Federal Reserve
SEC urged to block Columbus and Southern Ohio merger
In Washington a SEC hearing heard that the Columbus and Southern Ohio Electric Co and American Electric Power should not merge. SEC staff lawyer Gary Sundick said the merger would harm competition and unlikely to lower rates. Dayton and Cincinnati utilities warned of competitive harm. supporters cited energy crisis needs and large scale efficiency. The SEC will decide after considering arguments from all sides.
MENTIONED IN THIS ARTICLE
Washington
Securities and Exchange Commission
Columbus and Southern Ohio Electric Co
American Electric Power Co
Gary Sundick
SEC
Commission
Ohio
Justice Department
Antitrust
Milton Grossman
Richard M. Dicke
American
Columbus
John C. Elam
AFP
Ohio Power Co
Dayton
Cincinnati Power Companies
Columbus Company
Ohio Rural Electric Cooperatives Inc
Ohio Municipal Electric Association
Nobel Peace Prize Shared by Sato and MacBride
The Nobel Committee announced Sato of Japan and Sean MacBride of Ireland as co winners for 1974. Sato cited for limiting nuclear weapons and stabilizing Asia. MacBride for human rights work and Namibia rights. The prize money totals 124000 dollars to be split equally, with ceremonies set for December 10 in Oslo.
MENTIONED IN THIS ARTICLE
Gene Kramer
Associated Press
Fisaku Sato
U.S
Japan
Sato
Sean MacBride
Ireland
Oslo
Norway
Asia
MacBride
Nobel Committee
Eisaku Sato
Tim Greve
Nobel Institute
Alfred Nobel
Tokyo
Socialist Party
Henry A. Kissinger
le Duc Tho
Vietnam
Boston High School Attendance Down After Court Busing Tensions
In Boston attendance at high schools dropped as racial violence flared during the fourth week of court ordered desegregation busing. A hearing was set today on Mayor Kevin White's request for 125 federal marshals to monitor busing related violence citywide.
MENTIONED IN THIS ARTICLE
Boston
Kevin White
Blast Damages Schools After Textbook Protests Jailed Minister
A dynamite blast damaged a rural elementary school and another building caught fire following the jailing of a minister opposing textbooks. No injuries were reported. State police credited the actions to the protest outbreak and are investigating.
MENTIONED IN THIS ARTICLE
Charleston
W. Va
Ford Testimony Delayed Over Watergate Trial Interference
President Ford's testimony before a House Judiciary subcommittee was postponed a week to Thursday to avoid possible interference with the Watergate cover-up trial. Chairman William L. Huhgate, a Democrat from Missouri, announced the delay on Tuesday.
MENTIONED IN THIS ARTICLE
Washington
Ford
House Judiciary Subcommittee
William L. Huhgate
D-Mo
Weather Outlook Sunny With Mild Lows This Week
Clear tonight with lows in the mid to upper 40s. Sunny Thursday with highs in the mid to upper 70s. Details on page 2.
Also Mentioned on This Page
House
Richard C. Gerstenberg
General Motors Corp
Henry Ford II
Ford Motor Co
United States
Donald T. Regan
Merrill, Lynch, Pierce, Fenner & Smith, Inc
Walter F. Mondale
Dminn
Rafael Guzman Acosta
Radhames Mendez Vargas
Barbara Hutchison
Addi
N. Y. Bank
Wille
Sato, MacBride
Gunnar Myrdal
Sweden
Friedrich von Hayek
Austria
United Nations
South-West Africa
Namibia
South Africa
Amnesty International
International Commission of Jurists
Vackride
Clacailiene Las
Hweather
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