Market outlook: economists see shallow recession ahead
Washington sources say a mild, brief recession is likely, with profits dropping about 5 to 10 percent from last year’s record. Analysts cite a 25.7 percent slide from the bull peak of December 1968 and warn stock markets overstate or misread economic truths. The Cambodia decision and political polarization are noted as factors eroding confidence and market behavior.
MENTIONED IN THIS ARTICLE
Washington
Herbert Stein
President's Council Off Economic Advisers
Paul Samuelson
Massachusetts Institute of Technology
Samuelson
Wall Street
Cambodia
Wilson Sets Britain on Course for General Election
London report that Prime Minister Wilson advised Queen Elizabeth II to dissolve parliament on May 23, triggering a general election set for June 18. The move ends weeks of political uncertainty as polls show a surge in Labour support following economic recovery and large pay increases.
MENTIONED IN THIS ARTICLE
London
UPI
Wilson
Elizabeth
Buckingham Palace
Britain
Labor
Labor Party
Harold Wilson
No. 10
Downing Street
Chequers
Nominee Testimony Blocked to Pressure Data Release
Washington AP Senator Fulbright accuses the State Department of blocking testimony on Ambassador nominee Robert McClintock amid a push to force release of information. McClintock, a career diplomat, would become ambassador to Venezuela after serving in Cambodia, Lebanon, and Argentina.
MENTIONED IN THIS ARTICLE
Washington
Jtuck
Leonard
Fulbright
Ark
Unger
U.S
Thailand
Symington
Senate Foreign Relations Committee
Robert
McClintock
Venezuela
Cambodia
Lebanon
Argentina
McClint
Pur on Today’s Chuckle Success Raves Your Name Everywhere
Correien SUBAREA reports a playful feature where the subject’s name appears in all media. Readers notice the joke stretching across publicity channels and the telephone directory remains notably unused for this gag.
MENTIONED IN THIS ARTICLE
Correien Subarea
Newspapers Win Ruling On Reporting of Debate
The Supreme Court shields newspapers from libel judgments when reporting heated public debate. A 7-1 decision allows reprinting of rhetorical hyperbole or vigorous epithet about a public figure at a public meeting as protected First Amendment speech. The ruling reversed a $17,500 judgment against Greenbelt News Review over alleged blackmail remarks about Charles Bresler.
MENTIONED IN THIS ARTICLE
Washington
Supreme Court
Poller Stewart
Washington Area
Greenbelt
News Re
Charles Bresler
Stewart
News Review
Bresler
Military Tinge to Kent Bullets
Ravenna Ohio UPI Coroner Robert Sybert said four Kent State University students shot to death died from sounds caused by bullets similar to military ammunition. Whether accidental or homicidal is undetermined and under continuing inquiry.
MENTIONED IN THIS ARTICLE
Ravenna
Ohio
UPI
Robert Sybert
Kent State University
Teamsters approve national truckers contract boosting wages
Washington AP reports the Teamsters union and the labor department announced approval by truck drivers of a national contract that raises pay by 1.00 per hour for 39 months covering about 423,000 men. The vote, 71 percent for, was supervised by William Usery and Frank Fitzsimmons. The agreement adds pensions, vacations, holidays, health insurance and cost of living adjustments with potential minimums rising to 5.20 per hour. Some Chicago firms had $1.65 per hour increases. long haul drivers may gain over the life of the contract. Continued on Page 3 Col 3.
MENTIONED IN THIS ARTICLE
Washington
Teamsters Union
Labor Department
Teamsters
Frank Fitzsimmons
William ‘Usery
Chicago
Fitzsimmons
Trucking Employers, Inc
South Vietnamese Operations Expand Into Laos and Cambodia
South Vietnamese troops have been conducting ground operations in southern Laos for some time, with Tran Van Lam telling the Los Angeles Times that Saigon forces are actively engaged against North Vietnamese in Cambodia and Laos as well as South Vietnam. The effort aims to disrupt the Ho Chi Minh trail through Laos and Cambodia, with ground strikes complementing U.S. air raids.
MENTIONED IN THIS ARTICLE
Los Angeles
Laos
Tran van Lam
Los Angeles Times
Jakarta
Indonesia
Times
William Coughlin
Lam
Saigon
Cambodia
South Vietnam
Indo-China
Florida White House
U.S
Min Chi Minh Tril
North Vietnam
Three Factors Cited In Drive Slowdown
Base Area 31 Cambodia AP reports the three week old campaign into Cambodia slowing after spectacular initial results. Field commanders cite three factors for the momentum loss: stronger North Vietnamese resistance, coming monsoon with fog and rains, and orders to clear caches before moving supplies. Weather limits spotter helicopters and gunships, while end-of-month goals appear unlikely.
MENTIONED IN THIS ARTICLE
Cambodia
Hig
Saigon
Carter Clarke
South Vietnam
U.S. Istair
Cavalry Division
Nixon
Col. Clarke
Air Cavalry Division
U. S. 11Th Armored Regiment
Fish Hook
Romney Shuns Quarter of Pay for Inflation Fight
George Tromney, secretary of housing, says he will return one quarter of his $60,000 salary to the government starting Monday as a personal contribution to fight inflation. He spoke at a collective bargaining forum urging others to join, arguing it could slow the wage cost price spiral.
MENTIONED IN THIS ARTICLE
WEW York
Ait
George Tromney
Drowning of 7YearOld Boy Near Cedar Rapids
Barry Brecht seven year old son of Mrs George Bell of 23385 Makely boulevard SE Cedar Rapids drowned Sunday after diving from a raft about 50 feet from the shore at a waterhole near Barry south of Twenty fourth venue and Blakely boulevard SE. He surfaced later and was recovered at 3 56 p m. His sisters Brenda and Karen were nearby on the bank. Fire department rescue boats and scuba divers took part in the search. He was a second grade student at Grant Wood school. Survivors include his parents four sisters Debra Karen Brenda and Janet two brothers Edward and Anthony all at home grandparents Mr and Mrs Edward Brecht of Cedar Rapids and great grandmother Mrs Anna Pfann of Cedar Rapids. Services are set for Wednesday at 2 p m at Teahen chapel with the Rev Ernest Larson. burial at St Johns cemetery. Friends may call at Teahen chapel after 1 p m Tuesday.
MENTIONED IN THIS ARTICLE
Tedar Raddy Wewie
Barry Brecht
George Bell
Makely Boulevard
Robert Brecht
Pleasant
Barry
Blakely Boulevard
Brenda
Karen
Fire Department
Linn Sheriff's
Ffice
Grant Wood School
Debra
Janet
Edward
Anthony
Edward Brecht
Cedar Rapids
Anna Pfann
Ernest Larson
St. John's Cemetery
Day's Halt For Allies In Vietnam
Saigon and South Vietnamese forces halted 24 hours while 35,000 allied troops pressed into Cambodia. The ceasefire began at noon for Buddha's birthday observance, but operations in Cambodia and COSVN area continued. US General Davison said COSYN headquarters and related facilities were partially captured, with substantial enemy losses and supplies seized.
MENTIONED IN THIS ARTICLE
Saigon
South Vietnam
Cambodia
Vietnam
Takeo
Phnom Penh
Apo
Supreme Communist Command
COSYN
COSVN
Davison
Burns Warns on Wage Price Policy At Monetary Conference
Fed Chairman Arthur Burns told the 17th annual monetary conference that a temporary income policy may be necessary to curb cost push inflation, while warning against long term price and wage controls. He urged complementary fiscal and monetary measures and stressed monetary policy must share the burden of any recovery to avoid overheating.
MENTIONED IN THIS ARTICLE
Mot Springs
Federal Reserve System
Arthur Burns
American Bankers Association
Burns
Also Mentioned on This Page
Stock Mart
Rogers
Secretary of State
McClintork
Pape
Wheaton Glass Co
Millville
Nat
U.S. Circuit Court
Philadelphia
Mary
New York
Today's Index
Daly
Editoria
Ibi Farm
Finaress Marion WW Magies
Renken
Kent
Sam
Peter Arnett
North
NVA
Romney
C.R. Boy
Kompong Cham
Tram Khaar
Michael Davison
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