Fed cuts time-deposit reserve to aid housing market
The Federal Reserve Board reduced the share of large time deposits over five million dollars banks must hold back from lending to ease money for housing and local governments. The reserve on other deposits remains unchanged, with a projected 350 million more dollars available for loans, affecting about 5800 banks. Also set is a 5 percent reserve on proceeds from commercial paper when channeled to banks. In Ripley New York a marijuana haul sparked arrests as a separate narcotics case unfolded near the Pennsylvania border and in Saigon newspapers were seized for national security concerns.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve Board
Federal Reserve
Federal Reserve System
Ripley
N.Y
New York State Thruway
Pennsylvania
Turnpike
New York Hall
Galien Hartley
Cambridge
Mass
Ricky Haley
Las Vegas
Joel Duckett
Valley Forge
Calif
Timothy M. Ferry
Arlington
Mark Stephen Abell
Cazenovia
Steven M. Mullen
Narbeth
Frank A. Youngil
Phoenixville
City Council Approves Draft of Employee Pension Plan
City Council approved drafting a city employee pension plan excluding police and firemen. The proposal, read by City Engineer David Johnson, would require employee contributions of 3.5 percent plus 5 percent over SS limits and a city contribution near 6 percent, with eligibility after 20 years and at age 60. Council instructed Douglas Rozelle to draft an ordinance and aimed for possible action by October 1, amid pressure from street department workers. The meeting also accepted Anderson Construction’s low bid.
MENTIONED IN THIS ARTICLE
Ity
David Johnson
Johnson
Donald Cross
Douglas Rozelle
Anderson Construction
Ohio Trucker 36 Killed In 190 Crash
A trucker, Edward F. Deyarmin, 38, of North Royalton Ohio, died at the scene after his rig rear ended Robert Leaeis 36, of Erie, on Interstate 90 near Route 430 at 7 24 am. Leaeis suffered leg cuts, treated and released at St. Vincent Hospital Erie. The crash left both rigs skidding 32 feet. Other items note municipal bids for sidewalk work and traffic signal upgrades in nearby streets, plus city pay raise talks and arbitration discussions. Albanian elections set for Sept 20.
MENTIONED IN THIS ARTICLE
Ohio
Lawrence Park
Edward F. Deyarmin
North Royalton
Robert Leaeis
Jarmin
Deyarmin
Robertson
St. Vincent Hospital
Erie
Johnson
South Center
South Streets
Main Streets
Pennsylvania Avenue
East Main Street
Edward Zarger
Joseph Walsh
Walsh
Zarger
Raymond G. Weber
Senate expected to override Nixon on education funding bill
Washington AP reports both parties expect the Senate to override Nixon by enacting a 4.4 billion education money bill for fiscal 1971, following House approval. Democrats press for higher priority for domestic education for the disadvantaged, while Nixon warns the package inflates deficits and risks inflation. The House tally to override stood 269 to 114.
MENTIONED IN THIS ARTICLE
Washington
Senate
Nixon
House
Bugh Scott
R-Pa
Congress
Illion
McGovern Targets Nixon Over Press Muzzling Critique
Sen George McGovern charged the Nixon administration fostered fear to muzzle reporters and warned unchecked TV access could push the nation toward one man rule. He spoke at American University and cited Agnew attacks on the media, Nixon’s wartime stance, and calls for balanced television coverage.
MENTIONED IN THIS ARTICLE
Washington
George McGovern
Nixon
McGovern
Spiro T. Agnew
Agnew
South Dakota Democrat
American University
Nixon- Agnew
Atty
John N. Mitchell
Justice Department
Tricia Nixon
Eisenhower
Kennedy
Johnson
Congress
Nixon seeks quick Supreme Court ruling on 18 year old vote
The Nixon administration filed suits in the Supreme Court challenging the 18 year old voting age and two other provisions of the Voting Rights Act of 1970. Idaho and Arizona are named defendants, with broader implications for 48 states. The Justice Department aims for early arguments after the court reconvenes, seeking to eliminate literacy tests and set residency rules.
MENTIONED IN THIS ARTICLE
Washington
Congress
Supreme Court
Idaho
Arizona
Justice Department
Robert Robson
Gary K. Nelson
John Mitchell
Kentucky
Georgia
Nixon
Texas
Oregon
New York State
District of Columbia
Thousands Immunized as Diphtheria Epidemic Surges
In San Antonio, health officials reported 10 new suspected diphtheria cases, prompting an urgent immunization drive. More than 5,000 people received shots amid 80 degree heat. total cases could reach 28 since August 1, with two deaths and over 10,000 immunized thus far.
MENTIONED IN THIS ARTICLE
San Antonio, Tex
William Ross
Aiea Ross
Corry Youth Bound Over To Court for Assault Case
Dennis J. Lindstrom, 19, of the Phoenix Hotel, was bound over to the county district court after arraignment on a single count of assault and battery. The charge stems from an altercation in which Steve Swantek of Corry was injured.
MENTIONED IN THIS ARTICLE
Dennis J. Lindstrom
Phoenix Hotel
Dist Faniog Pyrey Yeateeday
County Dall Ace Mentsy
Asesault and Battery
Steve Swantek
BLD
Corry
Also Mentioned on This Page
Saigon
Dan
Opinion
Dat’Chu Moi
The
New Democracy
Council
Atholl Law
New Zealand
Whakatane
Rex R. Morpheth
Journal
Endsley
Ohio Trucker
the Journal
Francis Pilewski
Thomas Haynes
Warren
Tokyo
Albania
People's National Assembly
People’s Councils
Peking
New China New Agency
Albanian Communist Party
Enver ‘Hoxha
Tirana
Union City
Frank’s
Doris Ritchie
Hamet Hospital
Hamot Hospital
U.S
Robert D. Smith
Bear Lake
Smith
Lloyd McCray
B.D. 1
Columbus
Hillsville
Florida
New Carolina-Virginia
North Center Street
Endsiey
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