Nixon eases dividend rules to aid sagging market
The Nixon administration relaxed voluntary dividend guidelines clarifying two paths for companies. They may keep increases to four percent or use a formula based on the 1968 to 1972 average. Burns said the move could raise payments this year and next, benefiting the elderly and widows relying on dividends. Corporate pre tax profits rose $12.8 billion in Q1 to an annual rate of $114.3 billion.
MENTIONED IN THIS ARTICLE
Washington
Committee On
Arthur F. Burns
Federal Reserve Board
Burns
Nixon
Cost of Living Council
Commerce Department
Supreme Court obscenity ruling delighted prosecutors and police
Prosecutors and police officials hailed the Supreme Court decision expanding community standards to define obscenity. They say states may ban explicit books, magazines, plays, and films if locally offensive, even if approved elsewhere, a shift they call necessary to curb indecent material. Civil libertarians criticized the ruling as a setback for free speech and press.
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Supreme Court
High Court
Larry Salmon
Floyd County
State Bar of Georgia
Arkansas
Jim Guy Tucker
New York City
Bald Knob
Ark
Melvin Wulf
Gal
American Civil Liberties Union
Jack Frantz
National Book Committee
Binghamton
N.Y
Carmel
Calif
Frantz
Tom Ferrell
Esquire Magazine
Chicago
Charles Levy Circulating Co
Playboy
Penthouse
Ralph G. Haddon
Charlotte
N.C
Country
Dollar weakens to record low in Frankfurt market
The dollar fell to a record low against the West German mark in Frankfurt with a 25 mark per dollar level as the Frankfurt exchange reopened after a holiday. European centers saw continued weakness amid Watergate fallout and U S inflations, with several nations providing support totaling up to 2.9 billion dollars for the lira.
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London
Frankfurt
Frankfurt Exchange
New York
Europe
United States
Zurich
Paris
Two lawmen shot during juvenile car chase in St Paul
Off duty officer Tim Troden aged 23 was in critical condition with a leg wound and Ramsey County deputy Robert Roscoe aged 32 sustained side and arm injuries after a private vehicle pursuit of a car carrying juveniles. One youth had earlier received a traffic citation. Juveniles remained at large.
MENTIONED IN THIS ARTICLE
ST. Paul, Minn
Tim Troden
Ramsey County
Robert Roscoe
St. Paul
Troden
Roscoe
Long time before gas costs a dollar per gallon
Gulf Oil Corp president Bob Dorsey said at a press conference in Austin that a $1 per gallon gasoline price is unlikely soon. He projected fuel prices would rise steadily over time but not dramatically.
MENTIONED IN THIS ARTICLE
Austin
Tex
Gulf Oil Corp
Bob Dorsey
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Potthast
Austin (Minn
Herald
Ernest P. Potthast
Redwood City
Florida
Ray Marky
Chung King Eye
Big Liquor Store
Minnesota
Libby
Jeno
Featuring
Alexis
Lichine
Bordeaux
House’s Olives
Apollo Center
Oakland Ave
Rogers
B&s
Universal
PIXIE
TEMPO
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