Merger Collapse Clouds Future of Rock Island
Washington reports the federal government weighs short term fixes as Union Pacific eyes termination of its long delayed Rock Island merger. With bankruptcy filed, ICC teams plan interim service shifts among C&NW, Milwaukee Road, Illinois Central Gulf and Burlington Northern while considering a subsidized single-carrier option to shield Rock Island workers.
MENTIONED IN THIS ARTICLE
Rock Island
Union Pacific
ICC
Ed Wheeler
C&nw
Iowa
Minnesota
Milwaukee Road
Sibley
Gowrie
Cedar Rapids
Columbus Junction
Davenport
Des Moines
Kansas City
Illinois Central Gulf
West Union
Manly
Iowa Falls
Burlingon Northern
Chicago
Soo Line
CIA Salvaged Soviet Sub Says Mansfield
Senate Leader Mansfield said the CIA raised part of a Soviet nuclear submarine sunk in the Pacific. He noted the sub was old and its military value limited, but contents might have held value. Officials said the operation aimed to recover secret codes. neither codes nor missiles were found.
MENTIONED IN THIS ARTICLE
Washington
Senate
Mike Mansfield
D-Mont
Central Intelligence Agency
Pacific Ocean
Mansfield
CIA
Howard Hughes
Oahu
Hawaii
White House
Hughes’ Summa Corp
Hughes
Balance of Payments Deficit Reaches New High
The Commerce Department reports the U S balance of payments deficit at 5.9 billion dollars in the last quarter, up from 3.9 billion, with the full year totaling 10.6 billion dollars. The deficit reflects more dollars sent abroad for investment or imports than entering the U S. The report also notes related coverage on a separate submarine salvage operation and political implications.
MENTIONED IN THIS ARTICLE
Washington
Commerce Department
U.S
Five Provinces Fall to Communists Amid Saigon Retreat
Saigon government signals further losses as Quang Tri nears fall and Thua Thien may be abandoned. About 100000 civilians flee toward Da Nang while Hue's imperial capital area remains contested. North Vietnam holds most of Quang Tri with four infantry divisions and two anti aircraft units. Authorities expect up to 450000 refugees from the Highlands as roads are cut and evacuation proceeds.
MENTIONED IN THIS ARTICLE
Saigon
South Vietnam
Quang Tri
Thua Thien
Hue
da Nang
Demilitarized Zone
Kontum
Pleiku
Barlac
Thieu
North Vietnam
Quang Tri Province
Quang Tri City
Ministry of Social Welfare
Central Highlands
Highlands
Tuy Hoa
Dalat
Dinh Quan
Senate approves oil depletion plan favoring independents
The Senate tentatively agreed to end the depletion allowance for major oil firms while preserving a 22 percent depletion for the first 3,000 barrels for independents, defined as producers not owning a retail outlet. The move, part of a $29.2 billion tax cut, would cost majors about 1.2 billion in 1975 with larger losses in 1976. independents would gain about 1 billion in 1975, with higher future totals.
MENTIONED IN THIS ARTICLE
Washington
Sen. Hollings
D-S.c
Sen
Bentsen
Texas
Exxon
Standard
Gulf
Senate
Teenagers Clash With Parents Over Paying Attention
A lighthearted note observes that not all teens argue with parents about priorities. Some show less focus on attention and more independence, reflecting common family dynamics in youth behavior.
Gas Tax Compromise Emerges In Energy Policy Debate
Top Republicans on two energy panels say President Ford must soften his stance on the gasoline tax to gain Democratic concessions on energy policy. Rep. Schneebeli and Rep. Brown expect a conditional quota and discuss broader moves toward excise taxes on gas guzzlers and even a possible federal oil company. The plan envisions a gasoline tax rise and rebates, with June 1 marking the final fee segment, as Congress weighs a phased 37 cent gallon tax by 1980.
MENTIONED IN THIS ARTICLE
Washington
UPI
House
Ford
Rep. Schneebeli
Pennsylvania
Ways and Means
Rep. Brown
Ohio
Commerce Energy
Federal Energy Administration
FEA
House Ways and Means Committee
Court Extends Aid to Widowers
The Supreme Court ruled 8 to 0 that Social Security survivors benefits may not be withheld from widowers with small children when paid to widows in similar situations. Justice Brennan noted the ruling follows earlier logic granting equal dependents protection for military spouses. The decision also struck down New Hampshire’s tax on income earned by nonresidents, upholding no personal income tax on its own citizens.
MENTIONED IN THIS ARTICLE
Washington
UPI
Supreme Court
Brennan
New Hampshire
Also Mentioned on This Page
Interstate Commerce Commission
Iown
Chicago & North Western Railway
Council Bluffs
Allerton
Eddyville
Owatonna
Minn
Samuel Freeman
The
Rio Grande
Glomor Explorer
Summa Corp
Subcommittee
Bult Mansfield
Los Angeles Times
Washington Post
New York Times
the Times
William Colby
Jack Anderson
Mutual Broadcasting System
Washington-Moscow
Anderson
Soviet Union
Cambodia
Phnom Penh
U.S. Congress
Long Noi
Mekong River
Brown
Morton
Congress
National Petroleum Council
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Daily Record
Enone
Marion
Society
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