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Newspaper
Baytown Sun
Location
Baytown, Texas, United States of America
Date
Apr 21, 1971
Page
6
Clerks International Association, fifth largest AFL CIO union, opens a Dallas division HQ covering nine states and 22 locals. The unit, with 58 000 members and 19 full time staff, aims to coordinate organizing under Eugene A Britton.
A 1967 confidential Penn Central memo praised bookkeeper W.S. Cook for suggesting a pay raise to C.S. Hill, claiming his imaginative accounting added millions to reported net income. The memo sits in ICC's 1500-page study on Penn Central's demise, filed as part of a June 1970 reorganization under federal bankruptcy laws. The report, though not charging wrongdoing, highlights dividend payments masking financial trouble and limited cash from nonrail assets.
Gov Prest on Smith is set to sign a windstorm insurance bill creating a Texas catastrophe property pool to write windstorm hail and fire insurance in areas Texas insurers avoid. An emergency clause must be moved to after the bill as revisions proceed, delaying immediate enactment.
Washington AP reports if the economy grows slowly in the next two months Congress may revive the investment credit. The proposal would allow firms to deduct 7 percent of equipment investments against taxes, with a stronger version at 10 percent over a year and tapering to 8 percent. House Ways and Means Chair Rep. Mills cautions action if second quarter 1971 performance is weak, as the economy had a 28.5 billion dollar GNP rise through March 31.
Dr. James R. Rocach professor of government has been named vice provost and dean of interdisciplinary programs at the University of Texas. He previously directed the Special Programs Division in the College of Arts and Sciences from 1965 to 1969.
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