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This newspaper page contains 12 articles. Subscribers can read the full text of each article.
Newspaper
Daily Review
Location
Hayward, California, United States of America
Date
Dec 11, 1967
Page
8
Federal move to sever the last domestic link between gold and the dollar could occur next year. Most Americans may not notice. daily business continues as usual while abroad the policy frees over 10 billion in gold to defend the dollar.
The article discusses potential removal of the gold reserve requirement for U S currency and the implications. It notes treasury and Federal Reserve positions, possible congressional action next year, and the cost impact on consumers via higher interest rates and taxes if the cover is reduced. It references past changes and the 1960s policy shifts shaping the decision.
New York stock activity shifted to downturn after a brief advance. By noon the Dow Jones industrial average stood at 833.73, down 3.52, with the 60-stock index off 40.5. Weaker sectors included steels, mail order retail, aircraft, chemicals and electronics, while Homestake Mining rose 2 points and Avco, Xerox fell about 2 points.
New York dock market prices selected by the New York Stock Exchange with adjustments and AP coverage. Officials and traders await further details as trading continues under evolving price signals and regulatory considerations.
Clark County officials meet to study Howard Hughes proposal to build a new airport for supersonic transports. Hughes offers to sell the airport to the county at cost, interest free, amid criticism of the idea and potential delays.
An unidentified county commissioner quoted in the record says Hughes wants to push the county out of McCarran Airport. Robert A. Maheu, Hughes Nevada CEO, explains a proposal for a new airport in exchange for current McCarran facilities, arguing funds should serve other essential needs rather than enlarging the terminal.
Anaheim AP report notes California State Employees Association seeks a 223.7 million package including 212 million for pay raises 7.2 million for health insurance and 2.9 million for cost of living increases for retirees. The plan aims to establish collective bargaining and a management council to streamline negotiations for 115000 members.
In a three page statement, Hughes says his interest in Clark County airport matters is not to gain McCarran airport. He aims to aid a new airport with capital investment and notes prior purchases include North Las Vegas Air Terminal and a flight service firm. Speculation exists he may buy McCarran, but last Friday he proposed a new supersonic terminal.
Henry K. Childress, 77, a San Francisco real estate man, was found dead Sunday in the ashes of his burned San Mateo County cabin. His wife alerted friends after he failed to return by the weekend. Deputies said he apparently tried to fight the fire, with a garden hose leading into the charred shell.
A reader questions why a broker delays sending proceeds after buying and selling stock and explains settlement dates. The advisor clarifies trade versus settlement, ownership transfer, and when checks should be issued, then offers guidance on interpreting market reports and investing in mutual funds, emphasizing staying informed through business sections and noting regulatory context.
Jazz trumpeter Al Hirt sues Cadet Records and Crown Records for 500000 damages, alleging they distributed his recordings without consent. The suit, filed Friday in Los Angeles, targets the album Al Hirt the Dawn Busters, which contains demonstration tracks made about a decade ago. A temporary injunction to halt further distribution was issued by Superior Court Judge Ralph H. Nutter. A hearing date was set for December 24.
The midstore gallery with lowered ceiling walnut fixtures and spotlighted displays focuses on bookends and bookshelf accessories adult games puzzles and globes. Beyond awaits B Dal ton's Information center a nine paneled kiosk with reference volumes for information on in print forthcoming books special orders and other services.
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