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Newspaper
Corry Evening Journal
Location
Corry, Pennsylvania, United States of America
Date
Dec 31, 1974
Page
2
The Journal urges restraint as New Year’s Eve traditional drinking rises with tragic risk. Police cannot be everywhere and accidents spill into the record, prompting officials to fear a morbid surge in road deaths and calls for caution to avoid becoming part of the statistics.
A widow asks how to transfer a home to her children for tax savings. The answer notes likely no federal estate tax due with a $60,000 taxable estate and explains that state inheritance tax may apply after deductions. The column also covers child custody ages, party-wall chimneys, and support for dependents, stating adults need not be supported unless welfare or incapacity applies.
United States Senate addresses for Richard S Schweiker Hugh Scott. Pennsylvania Governor Milton Shapp. Senator R Budd Dwyer in Harrisburg. United States Representative Joseph P Vigorito Forest Hopkins in Harrisburg.
Secret White House briefing reveals Henry Kissinger accusing Israel of jeopardizing peace talks by refusing to surrender six kilometers of Arab land. He warned of war risk and possible oil embargo if progress stalls while urging continued U.S. mediation with Egypt and Jordan.
The report laments nursing homes ignored adverse drug reactions and abuse and urges increased government scrutiny, predicting nine follow ups. It contrasts harsh conditions with a Colorado Springs facility praised for design, staff, and care, arguing for private provision over taxpayer-funded care. New York AP notes a cloudy 1975 economy but housing set to recover with down payments likely by midyear, as lenders loosen stance and mortgage activity shifts.
The piece notes intermediation shifts in thrift and housing sectors as higher returns in government and corporate securities draw funds. With high rates easing, funds may again flow to thrifts, boosting housing finance. It cites 1973 housing starts at 2.2 million, 1974 at about half, and discusses how access to credit, population growth, and household formation drive housing demand, offset by potential income stagnation weighing on the outlook.
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