15 Nov 1972
Page 1
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Newspaper
Austin Daily Herald
Location
Austin, Minnesota, United States of America
Date
Nov 15, 1972
Page
1
The Dow Jones industrial average closed above 1000 points for the first time as Wall Street responds to the milestone. Analysts weigh profits and new enthusiasm while broader indices also hit records and investors eye future market direction.
Washington state and local authorities plan to raise investments in U S securities as they begin drawing portions of federal revenue sharing funds. Treasury Department officials anticipate higher lending by states and municipalities as federal funds flow in, boosting government portfolios.
Captain J D Ward defended his decision to remove 130 dissidents from the carrier Constellation amid threats of violence and possible sabotage during Vietnam operations. Nearly 1,000 crewmen supported Ward in a petition, while dissident sailors announced a drive to discipline him.
The Mower County Board approved a 1973 budget totaling 1 626 059 05 with net levy awaiting welfare cost details. They accepted an 8980 bid from Gary Groh Construction for courthouse record storage remodeling and reappointed Dick Anderson as County Assessor for four years.
Billy Dean Smith, 24, from Watts Los Angeles, acquitted by a mixed-race jury of murder and attempted murder charges tied to a Bien Hoa grenade blast. He was convicted only of assaulting a military policeman and received a bad conduct discharge and reduction to private in a 20 month confinement. He is now on 30 days’ leave.
Forsaking the weatherman who predicted up to four inches of snow for the Austin area, the sun appeared in the afternoon. Heavy cloud cover persisted for two weeks, but forecasters warn Austin may see snow flurries this weekend with colder temperatures.
An opposing split grows within legal circles over a feder ally run National Institute of Justice. Chief Justice Burger supports a broad national center while SEAA state courts and others resist federalizing state systems. A Denver meeting of the center council will outline positions and possible congressional action.
The Commerce Department reported the July-September balance of payments deficit widened to 4.7 billion dollars in official reserve transactions. The deterioration followed nine months of improvement due to currency market turmoil after the British pound floated from its peg.
U S Justice Department officials say illegal methadone distribution is growing and heroin addicts in treatment are dispensing most of the drug. Bureau of Narcotics spokesmen told a Senate subcommittee the rise in methadone related deaths is the tip of an iceberg signaling a serious potential problem.
The Minnesota Hearing Aid Association leader backed calls for a state licensing law as MPIRG researcher Sue Kline labeled the industry a sham and urged legislators to restrict dealers to sales and service amid criticism of the field.
Africans dominate U.N. action with a Nairobi selection for the environment agency, plus a General Assembly censure vote against Portugal and recognition of rebels as authentic representatives of Portugal’s African territories. The African bloc also secured a Security Council meeting to protest Portugal, marking a record year for African statesmen amid anticolonial moves.
A furnished one room apartment is offered for single occupancy and available now. The Herald want-ads report shows the owner used low cost placement. an ad scheduled for six days at 5.40 dollars ran only two days before cancellation. For quick action call 433-8851.
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