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Newspaper
Columbus Telegram
Location
Columbus, Nebraska, United States of America
Date
Jul 10, 1970
Page
3
In a booming aviation era, U S scheduled airlines carried over 159 million passengers in 1969, while prices fell as fares were fixed by carrier and government agreements. Airlines compete fiercely for the traveler’s dollar, pampering passengers with meals and entertainment on the way to popular destinations.
A National Federation of Independent Business study frames banking as a major political issue. Senators weigh a House bill curbing one bank holding companies while House hearings probe bank credit card impacts. The piece cites high interest rates, antitrust concerns, and the transfer of funds to high risk loans. It quotes bankers and small business owners across California and Missouri noting tight financing and rising costs.
Washington reports that more than 20 million Americans hold stocks and faced a $300 billion drop in securities over 18 months. Merrill Lynch president Donald Regan testified that middle America investors remained optimistic, opening 215,006 new accounts from January to June and showing a long-term, conservative, buy-and-hold approach with many first-time investors earning under $15,000 annually.
In Santa Ana California residents petition France County supervisors to rename streets in a new subdivision. They object to names like Initram which appear misspelled backwards.
James J. Ling steps down as president of Ling built conglomerate LTV. Paul Thayer becomes president and CEO while Ling remains vice chairman. Board reconstituted as Ling faces antibody antitrust history and Braniff ties loom.
Stephen Moseley buys the Christensen Market in St Edward from Rudy Christensen. He and his wife Norma Garling Moseley will operate the store beginning July 13 and will carry IGA items.
The article notes a two-year drop in domestic cigarette consumption from 1968 to 1969 due to anti smoking campaigns and tax hikes, while the international market grows about 4 percent annually. It discusses diversification into non tobacco products, ongoing R and D for safer cigarettes, and the impact of a 1971 ban on cigarette ads on radio and TV. It highlights price hikes, earnings projections, and favorable dividend prospects, recommending R J Reynolds Industries for purchase.
NEW LINE MANILA UPD The Republic Flour Mills plans the Philippines first baby food processing plant by year end with a $3 738 million investment. It will produce 30 vegetable fruit and meat baby foods using formulas based on American standards and local ingredients.
Cleveland June 22 year-old bus driver sought more time to pay his car loan. A bank spokesman replied bluntly that he must walk to work if repossession occurs, emphasizing the lack of sympathy for the request.
IRS public service column answers common tax questions. Topics include including W-2 on returns, filing Form 1040X, keeping records for home purchases and deductions, scholarships taxation, savings bonds ownership, audit likelihood factors, withholding for a daughter employed under 25, and tax clearance for leaving the country.
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