Pension Fund Use Denied in NYC Default Threat
New York City teeters on the brink of default after the United Federation of Teachersrejects a plan to tap pension funds. Officials fear a 3 p.m. deadline looms for 453 million in debt, sparking warnings of mass layoffs unpaid welfare benefits and possible furloughs including police and fire protection.
MENTIONED IN THIS ARTICLE
New York
New York City
Federal Reserve System
Ford Administration
Municipal Assistance Corp
MAC
United Federation of Teachers
Hugh Carey
Abraham Beame
UFT
Albert Shanker
Carey
Rohatyn
Industrial Output Rises as Welfare Costs Jump
Federal Reserve data show industrial output up 1.9 percent in September the fifth straight monthly gain and the largest since 1964 while Welfare costs rose 20 percent in the 1975 fiscal year to 22.5 billion, driven largely by medical care for the poor. AFDC enrollment edged higher to about 11 million, with eight million dependents. An HEW official noted some May-June declines amid improving economy.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve Board
HEW
John A. Svahn
AFDC
James L. Pate
GNP
Pate
Federal Workers Face 35 Percent Health Insurance Hike
Blue Cross Blue Shield announces a 35 percent premium increase for about 5.9 million federal workers and dependents, from an average 154 to 208 dollars annually. The Civil Service Commission approved the change to offset rising medical costs and deficits.
MENTIONED IN THIS ARTICLE
Blue Cross
J. S. Nagelschmidt
Blue Shield
Federal Treasury
Nagelschmidt
Civil Service Commission
Aetna
Halfway House Fire Kills Two in Cleveland
An early morning blaze swept through a near East Side halfway house run by University Circle Inc. for men released from psychiatric hospitals. Two residents died and six were injured as the fire raged through the converted mansion.
MENTIONED IN THIS ARTICLE
Cleveland
Near East Side
University Circle Inc
Judge enjoins teachers in Dayton area over strike
Montgomery County judge Douglas Ferguson issued a permanent injunction against Trotwood Madison teachers from striking and ordered disclosure of calculations that led to a mistaken funding estimate. The error erased a salary agreement lifting starting pay from 7860 to 8410 dollars annually.
MENTIONED IN THIS ARTICLE
Dayton
Ohio
Trotwood-Madison
Montgomery County Common Pleas
Douglas Ferguson
Teachers Association
Weekend Rain Turns to Showers Tonight
Weather forecast notes rain tonight with a 90 percent chance, ending Saturday. Lows near 50, highs in the mid to upper 50s, cloudy skies persist with intermittent showers. Details reference Page 10.
Ali Leads Freedom March to Demand Carter Release
Muhammad Ali planned to lead a march in Trenton for boxer Robin Carter jailed at Trenton State Prison after a violent clash between Muslim inmate groups left one dead and six wounded. The protest route shifted to the state house. Carter, serving a triple life sentence for 1966 murders in Paterson, was not involved in the prison violence.
MENTIONED IN THIS ARTICLE
Trenton
Muhammad Ali
Robin
Ted
State House
Ali
Carter
Paterson
N.J
McGregor Shabazz
Nation of Islam
Newark
Cleophecus Mayres
Hillside
Shabazz
Ohio Chamber says highway bond adequately funded
Edwin Heminger president of the Ohio Chamber of Commerce argues that Gov Rhodes proposed 1.75 billion transportation bond is covered by tax revenues. He cites gasoline tax proceeds axle mileage tax and motor fuel tax along with existing levies backing prior debt as sufficient for a 30 year bond. He notes opponents claim underfunding by up to 90 million yearly is unproven.
MENTIONED IN THIS ARTICLE
Columbus, Ohio
Ohio Chamber of Commerce
James A. Rhodes
Chamber
Edwin Heminger
Heminger
Ohio
Mile of Baltimore & Ohio Track Stolen in Porter Lake Counties
Portage police report about 5000 feet of B&O track missing near Portage Indiana with rails and ties valued at about 22500 dollars. Chessie System detective Lt Werner Dahlstrom says track theft surprises railroad staff after witnesses possibly saw removal in September and spur line had not been used for a year. Authorities search for suspects and sale sites amid scrap value.
MENTIONED IN THIS ARTICLE
Portage, Ind
Baltimore & Ohio
Indiana
Arlene Bartley
Portage Police Department
Porter County
Lake County
Werner Dahlstrom
Chessie System
Chicago
Dahlstrom
Portage
B&o
Also Mentioned on This Page
Nyc
Pension Fund
Reuben
Mitchell
Felix Rohatyn
Ford
Commerce Department
Department of Health, Education and Welfare
White House
United Appeal Reports
Detroit
Ford Motor Co
Lorain, Ohio
Lorain
U.S
Chrysler Corp
Lima
William Brown
Brown
Buckeye Sheriffs Association
Ceske Budejovice
Czechoslovakia
Barry Meeker
West Germany
Meeker
Helga Neukirchner
Taddeus Kobrzynski
Peronists Rally For Talk
Buenos Aires
Argentina
Peronist Movement
Plaza de Mayo
Isabel Peron
Boxer
New World of Islam
James
The
Findlay
Republican Courier
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