Rate Boost On Natural Gas Okayed
The Federal Power Commission issued a new rate schedule doubling the ceiling price for new natural gas from the Permian Basin area of Texas and New Mexico. Old gas gains 23 cents per thousand cubic feet while new gas rises to 45 cents. The plan includes a 1-cent per week increase for old gas starting January 1 1974 and a 0.5-cent gathering allowance with tax adjustments. The decision aims to spur exploration and development, with the 1965 Permian Basin rates marking a historic regulatory shift upheld by the Supreme Court.
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Petersen Gripes As Cox Takes Watergate Probe
Washington AP Petersen defends Nixon probe shift after Archibald Cox named independent special prosecutor. Petersen cites lost records and slowed momentum while recounting clashes over access to tapes and documents. He recalls June 17 arrests at Democratic HQ and debates over evidence and immunity strategy.
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Phasing Out of Controls Hinted by Administration
High administration sources predicted a phased end to Phase 4 controls by year end as Agriculture Secretary Earl Bulz and Commerce Secretary Frederick Dent suggested a "phase-out" restoring conditions like January 1969. The report notes hopes for a return to a free economy before Nixon's clamp on controls. Also, William Hall was named deputy director of the U S Marshals Service.
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Petition Drive Seeks Removal of Supt Currie in Cedar Rapids
About 3 210 petitioners seek removal of Craig Currie as Cedar Rapids Community School superintendent. Petitions with 8210 signatures presented to the board secretary by Concerned Citizens members Mrs Oz Lagerquist and Mrs Richard K Svoboda.
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Petitions Comprise Cedar Rapids Campaign Signatures
Circulation of partisan petitions began last March and ran through April with about 2,972 signatures collected. Mrs Lagerquist said the filings were in good faith for all signers, while supporters claimed a strong cross section in Cedar Rapids and voiced hope for a favorable reception by the school heard.
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Watergate Probe resumes as Senate panel plans reports
Senate Watergate hearings continue with a one month summer recess for the panel and ongoing questioning of 35 witnesses. Lemuel Walters says investigators will draft a status report while considering a final summary report next February. The panel may split into subcommittees to probe irregularities in campaign spending and possible ethics violations tied to the 1972 campaign.
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Papers Allege Agnew Got $50,000 Payoff
Knight Newspapers reports allege Spiro Agnew received about $1,000 weekly from contractors during his Baltimore County executive and Maryland governorship, plus a $50,000 cash payment in 1970 or 1971. The probe centers on kickbacks and improper contracts linked to Agnew and other Maryland politicians.
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FBI Reports First 17-Year Drop in Crime Since 1955
The FBI Uniform Crime Reports for 1972 show a total of 5,801,000 crimes, down from 5,995,200 in 1971, marking the first overall decline in 17 years. Violent crimes rose 2 percent with rape up 1 percent and murder up 5 percent, while auto theft fell 11 percent.
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USDA Forecast: 1973 Food Prices Jump About 20 Percent
The Agriculture Department projects 1974 retail food prices roughly 20 percent above 1972 levels. Phase 4 controls and wage price actions may moderate rises, with record corn, wheat, and soybean crops expected to offset some costs. Beef and hog prices face shifts as ceilings lift and demand remains strong.
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Stock Prices Slide Amid Market Uncertainty
prices fell sharply across indices on Wednesday with analysts citing political and economic uncertainty. The Dow Jones industrial average was down 2.04 points as declines outpaced advances on the New York Stock Exchange by about three to one, with trading slow.
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Dan Jones
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Iowa Crime Rate Among Lowest in Nation in 1972
An annual crime report shows Iowa's violent crime declined for the second year, with the state’s overall rate far below the national average. Rural areas were among the safest, with only a small share of robberies occurring outside cities. Polk County noted as part of the statewide figures.
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