16 May 1973
Page 1
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Newspaper
Daily Review
Location
Hayward, California, United States of America
Date
May 16, 1973
Page
1
The Nixon administration plans a five year phase out of savings interest ceilings. A bill for reforms in financial institutions will include the proposal and go to Congress this summer. The plan favors consumers but balances gradual elimination with adviser debate.
Houston reports Skylab 4 interior exceeding 4100 degrees and uninhabitable. NASA tests a jerry-rigged sunshield as possible external cooling. a spacewalk by the first visiting astronauts is considered. Officials aim for a Sunday launch yet warn equipment readiness is marginal.
A group of senior citizens appealed to the Hayward City Council for a city commission on aging. The council left the door open to alternatives such as representing the group on the Southern Alameda County Committee on Aging, with no commitments.
Hayward City Council began dissecting City Manager William Hanley s proposed 27 million dollar budget with an all day Saturday session and a second May 2d afternoon session. A June 19 hearing and a May 24 special meeting were set to review social program funding under revenue sharing including 100000 for social programs. Hanley urged tax rate stability amid a Sacramento seminar absence of the mayor and vice mayor.
Bradford Cook resigned as chairman of the Securities and Exchange Commission after a New York grand jury indicted figures tied to the Nixon era. He faced accusations of allowing influence from Maurice H. Stans in a Vesco case and deleted a reference to Vesco’s campaign contribution from an SEC complaint. The White House defended Nixon's wiretap actions as national security.
Weather forecast indicates partly cloudy to mostly clear skies over South County tonight and tomorrow morning with little temperature change. Expect daytime highs in the 70s and overnight lows in the 50s. More weather details on page 35.
Businessman John Reading wins a third term as mayor of Oakland by a margin near 2 percent amid a contested race with cofounder Huey P. Seale and a Panthers movement in politics. Seale loses despite strong turnout as Reading captures 77,476 votes to Seale’s tally in a nine-candidate primary.
San Jose (UPI) Horace Burr of the U S Agriculture Department says a gloomy future where meals come in pills will not happen. Minerals and vitamins can be packed into capsules for daily needs, but human protein and calories are too abundant for pills.
The head of meat operations for a major supermarket chain says a second meat boycott did not materialize in May. Safeway Stores spokesman William Gross reports steadily rising sales since the original April boycott, with beer and seafood supplies uncertain and beef sales dropping.
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