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Newspaper
Austin Daily Herald
Location
Austin, Minnesota, United States of America
Date
Dec 20, 1971
Page
1
The dollar strengthened in European dealings as the Washington accord ended months of uncertainty. Stocks rose, Eurodollar bonds gained, and gold prices fell. central banks plan broader currency fluctuations while exporters anticipate a 12 percent U.S. price advantage abroad.
In Dacca the Bengalis hunt suspected collaborators as Indian troops try to curb the bloodshed. About 5 000 guerrillas roam streets with automatics avenging slain intellectuals and traitors after the Pakistan surrender. Mutilated bodies, mob violence, and public killings mark the scene amid chaos.
North Vietnamese antiaircraft defenses shot down four U S Phantom fighter bombers along the Laos border. The incident marked the air war's biggest success in over three years. Two crewmen rescued. six listed missing as search efforts continued amid heavy rain and winds.
President Nguyen Van Thieu announced 24 hour ceasefires for allied forces in South Vietnam for Christmas New Year and Tet. He urged Communists to end fighting immediately across Indochina to allow talks for peace. The Viet Cong had set three day and four day ceasefires for Christmas New Year and Tet.
The ICC says the Penn Central merger caused total chaos with $100 million in unpaid bills and $400 million in excess labor costs. It cites misrouting through undersized yards, slowed deliveries, and lost waybills amid management focus on diversification over rail operations. A report flags possible Bevan stock purchases by the Penn Central pension fund and CBK.
Two 22 year old Minnesota men Dale Snyder and Duane Flultz are jailed in Winneshiek County Iowa on charges of intent to do great bodily injury following a Saturday night shooting. Each is held on five thousand dollar bond.
Senator Edward M. Kennedy says he will renew in the next Congress the investigation into government wiretaps. He charges President Nixon and administration figures misled the public about the extent of electronic surveillance.
The Group of Ten agrees to devalue the dollar by 7.89 percent against others and revalues currencies such as Japan’s yen by 16.88 percent and the German mark by 13.57 percent. The move aims to raise U S production, create up to 750000 jobs, and lift exporting competitiveness while limiting consumer impact.
Administration Commissioner Brubacher says the State Building Code will stay the same for certain electrical wiring types. A proposal to require metal conduit beyond single and two family homes is not adopted. The article also notes the U S lifting the 10 percent import surcharge and expected impact on duties and gold price policy.
In Clarksville Indiana three teen girls Patty Ann and Kathy high school seniors recounts of shoplifting as a widespread youth behavior across social lines. Patty 17 from a solid middle class family has stolen over 300 dollars worth of goods and plans to keep some for Christmas. Ann nearly 18 supports her family and has taken over 60 dollars of toys and clothes for relatives. Kathy 18 on a dare began a year ago and has taken about 60 dollars with one more present needed, seeking thrills and to offset a lost Christmas job.
A Gallup poll of 1,503 adults in Princeton New Jersey places the economy as the nation’s leading issue with 41 percent naming it as the top problem. The survey also shows 32 percent favor Democrats to handle major issues, 22 percent back Republicans, 36 percent see no difference, and 10 percent have no opinion.
Local opinion writers weigh upcoming policy debates and community concerns across city corridors. Readers get concise takes on governance, infrastructure, and civic priorities shaping the week.
In New York prices surged after the weekend agreement to devalue the dollar and realign currencies. Trading volume hit a record early today as the Dow Jones Industrial Average rose 13.09 points to 886.89 at 11:30 am.
Robert G. Bobby Baker the former Senate secretary who rose from page boy to millionaire seeks parole as he and four other federal inmates including antiwar priest Daniel Berrigan appear before the U S Board of Parole to request early release.
The Supreme Court affirmed a ruling banning federal tax-exempt status for private schools focused on desegregation. The justices declined to review a three-judge district court panel decision issued June 30, keeping the lower court ruling in place.
East and West Berlin signed a wall pass agreement promising West Berliners 30 visiting days per year in East Germany. The pact includes exchange of about 100 acres of land to provide direct access to West Berlin enclaves. It takes effect after the Four Power Berlin pact final form and is expected to wait for West German ratification of a Soviet West German nonaggression treaty in spring.
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