Fed hikes discount rate to protect dollar after pound devaluation
The Federal Reserve raised the discount rate from 4% to 4.5% in a Sunday move to curb dollar outflows after Britain's pound fell from 2.80 to 2.40 dollars. Officials say the rise aligns U S rates with world levels and may slow inflation long term, with little immediate effect on U S consumer rates. Treasury Secretary Fowler offered no comment on the rate change, while Congressman Wright Patman criticized the move as harmful to loan costs.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve Board
Britain
U.S
Federal Reserve
White House
Treasury
Henry H. Fowler
United Kingdom
Wright -Patman
D-Texas
House Banking Committee
Council to Discuss 68 Budget Tonight
City Council meets for budget talks and two new ordinances. Finance director Staples leads with next year budgeting notes as Erie County Redevelopment Authority plans December session in Corry. Johnson reports on rubber snowplow blade trials and curb widening and paving status.
MENTIONED IN THIS ARTICLE
Gerald Staples
Erie County Redevelopment Authority
David Johnson
Erie
Corry
Fourth Ward
Johnson
David Nichols
Douglas Rozelle
McInnes Employes Vote to Stay On Strike
Members of the McInnes Steel Employes Association voted last night to remain on strike at the East Main street plant until negotiations resume. A meeting at Frank and Verna's in Columbus upheld the halt with a Saturday night gathering planned at the Central Labor Council Hall. The company contends the strike is illegal and refuses to comment until tomorrow.
MENTIONED IN THIS ARTICLE
McInnes Steel Employes’ Association
Frank and Verna
Columbus
East Main Street
Central Labor Council
North Center Street
Robert Kubiak
Spartansburg Man Killed By Huge Bull
Spartansburg area resident Ployd A. Tim Brown 74 died after being trampled by a large bull while feeding hay near his home. Deputy Coroner Dr C M Sonne said the crushed chest and injuries were fatal. Brown, born February 21 1893 in Belmont New York, was a former farmer and longtime township supervisor. He married Lela Tubbs February 6 1918 and is survived by she and other relatives. He belonged to Sparta Grange and was a social member of the Corry Moose.
MENTIONED IN THIS ARTICLE
Spartansburg
Ployd
Tim” Brown
Crawford County
C. M. Sonne
Brown
Aero Supply Co
Lela Tubbs
Sparta Grange
Corry Moose
Yearbook Seeks Names Of Viet Vets For Corrian
The Corrian yearbook staff at Area High School calls for former students serving in Vietnam or who have served to send name rank branch of service and parents names and addresses. Advisor Miss Helen Rowe says qualified servicemen or their parents should submit material to the high school by December 1.
MENTIONED IN THIS ARTICLE
Corrian
Helen Rowe
Riders Unhurt as Short Circuit Kills Two Horses
In El Monte two horses were killed and riders Dana McCrosson and Sheila Armitage escaped injury after a high voltage short circuit sparked between a power pole and a chain link fence. Police blamed the faulty pole and noted the riders likely avoided shock due to saddle insulation.
MENTIONED IN THIS ARTICLE
EL Monte
Call
Dana McCrosson
Sheila Armitage
Wal
Britain Devalues Pound to Spur Lagging Economy
London reports a 14.3 percent pound devaluation from 2.80 to 2.40 to boost exports amid a slow economy. Prime Minister Harold Wilson defends the move as a path out of boom and bust. Tory critics demand resignation and early elections as Parliament prepares an emergency debate.
MENTIONED IN THIS ARTICLE
London
Spain
Ireland
Denmark
Israel
Hong Kong
U.S
Harold Wilson
Britain
Wilson
Edward Heath
100000 Gallons Of Deadly Chlorine Threaten Area Evacuees
In Newton Alabama 3000 residents fled after a diesel freight derailment caught fire. Officials said 100000 gallons of chlorine gas were at risk as four busloads of evacuees returned home for essentials. Ammonia and propane fires burn nearby while cleanup options include cranes and tanker transfers. Two boys reported missing amid the chaos.
MENTIONED IN THIS ARTICLE
Newton
Ala
Skeet Pate
Alabama
Seaboard Coast Line
Pate
Sgt
E. H. Jones
Alabama Highway
Dak To Battle Rages As Paratroopers Fight Dak To Front
US 173d Airborne Brigade renews assault on a hill near Dak To as 40 paratroopers are killed and 42 wounded in a daylong clash with dug in North Vietnamese forces. Air raids pound targets near Hanoi including a concrete plant and a barge yard while U.S. losses climb.
MENTIONED IN THIS ARTICLE
Saigon
Edayaid Pak
Ican
Dak To
U. S. 173d Airborne Brigade
Hill
Dak
T His
Aner
Hill 141
Arca
Hanoi
Thuy Phuong
North Vietnam
Tonkin Gulf
Navy
Haiphong
Me‘kong
U. S. Command
Delta
South
Prince Denies Viet Cong Camp Found Inside Cambodia Border
Cambodian prince Norodom Sihanouk defended his regime as reports of a Viet Cong camp inside Cambodia emerged from border coverage by AP reporters near War Zone C. Evidence suggested months of use, with Vietnamese military documents and supplies found.
MENTIONED IN THIS ARTICLE
Cambodia
Phnom Penh
Norodom Sihanouk
U.S
Saigon
Loc Ninh
United States
Vietnam
Sdn Sann
Sihanouk
Forestry Department
Westmoreland Hints Token Troop Pullout Within 2 Years
General Westmoreland indicated a possible token withdrawal of U S troops from South Vietnam within two years due to North Vietnamese and Viet Cong manpower problems. He cautioned any pullout would be cautious and contingent on South Vietnamese forces improving.
MENTIONED IN THIS ARTICLE
Washington
William C. Westmoreland
U.S
South Vietnam
South
Vietnam
Westmoreland
House Armed Services Committee
Ellsworth Bunker
NBC
Walter Lippmann
Johnson
Herbert Hoover
Hoover Lippmann
Lippmann
Man Returns $10 Overcharge From Long ago Store
Ivan Downey, manager of the local A P, recounts a man who paid back a $10 overcharge from a check cashed at the old store. The man, unrecognized, asked if Downey ran the outlet when it was at the site now Barney's Firestone, then handed over the money and left after 14 years.
MENTIONED IN THIS ARTICLE
Ansa
Ivan Downey
A&p
Downey
Barney's Firestone
Health care reform urged as national crisis looms
A presidential commission warned of imminent national health crises with costs rising faster than living expenses and gaps in service quality. It urged licensure renewals, peer reviews, hospital efficiency rewards, federal support for schools, and targeted aid for the disadvantaged, under Johnson's leadership.
MENTIONED IN THIS ARTICLE
Washington
America
Johnson
Sman Commission
J. Irwin Miller
Cumming Engines., Inc
Columbus
Ind
Also Mentioned on This Page
Ion
Shippensburg
Shippensburg State College
Frederic Mill
McInnes
Viet Vets
Percy Bankston
Joe
Bobby
Enterprise
Mideah
U. S. Ath
Tokyo
Japan
Government Science and Technology Agency
Sasebo
Yokosuka
Prince
Norodom Sehanouk
John FP. Kennedy
Associated
Susan Cornish
Ater
Wes
Cornish
President
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