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Newspaper
Daily Review
Location
Hayward, California, United States of America
Date
Sep 26, 1966
Page
6
New York AP reports a broad inflation drizzle dampening households, workers, and businesses across the economy. Rising basic goods like milk bread eggs and bacon strain family budgets as military and consumer costs keep prices high, fueling labor talks and wage pressures.
J Paul St Sure 64 former Pacific Maritime Association president died Sunday after retiring 25 days earlier from PMA post He helped shape a 1961 mechanization and modernization agreement with ILWU leader Harry Bridges boosting productivity and cutting costs to shipowners Private funeral services set for Tuesday The piece notes upcoming labor contracts and wage price dynamics amid a credit constrained economy.
Shipping notices list vessels and origins including AMERICAN lines, Japanese and Norwegian ships, entries for LONG BEACH Los Angeles San Pedro Portland Honolulu and Yokohama routes. Highlights include ORIENTAL PEARL EMPIRE PRESIDENT CLEVELAND and KAVIER VICTORY with cargoes, docks and piers noted across several ports.
Washington US officials defend organized labor against claims that rising wages push prices. A government study soon on the President’s desk shows unit labor costs for US manufacturers declined since 1960, though steel and auto sectors cite higher labor costs as a major factor in price increases. The index fell from 1.7 in 1960 to 90.8 in 1963, then rose to 99.1 in mid-1965 mainly due to higher social security taxes. Wages rose about 20 percent since 1980 while living costs climbed 9.6 percent, with productivity high in steel and auto industries.
Washington reports Congress enacted broad water conservation measures amid shortages. Step toward research on usable water supplies and desalination followed by weather modification talks. New bills likely next year as leftovers face death. Market view for island prospects and Viet Nam War context noted amid fiscal drama.
The New York market at noon shows Selected stock transactions on the American Stock Exchange with trading updates from New York. The report notes price movements, volumes, and notable gains and losses among listed issues as investors digest midday developments.
President Johnson urges expansion of the saline water conversion program and backs an international meeting to study water problems. Canada agrees the United States will join a possible giant North American water and power project to divert Alaska and Yukon waters through seven Canadian provinces, 35 U.S. states, and three Mexican states, aiming to import water from another basin into the Colorado. A separate bill would authorize a $72.2 million federal contribution toward a $45 million desalting and electric power plant off Southern California. The House Interior Committee plans no action this late in session as bills seek weather modification authority and measures to curb water pollution.
New York AP reports a dull trading session with light volume and modest declines across the market. The Dow and broader averages moved lower as General Motors and General Electric weighed on the index amid lower-than-average turnover.
APPLE VALLEY AP Three men were injured when their plane flipped during landing at Apple Valley Airport Sunday. Pilot William Leib 38 from George Air Force Base suffered facial and head cuts. Erle Tourtillot 17 of Apple Valley sustained serious head injuries and was taken to St Mary’s Desert Valley Hospital. David Allen White 25 of Apple Valley received minor injuries.
A fragmented reading shows a corporate news snippet referencing Raytheon Xerox Control Data Eastern Air Lines Pan Am World Airways and North American carriers with stock moves. Motorola J Pitti Ray McDermott and Saint Island Central are noted with points gained or lost amid market activity and court decision effects.
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