Bankers Deny Collusion In Decision To Raise Rates
Washington AP reports bankers testified they acted independently when a sequence of prime rate hikes began June 9. Alfred Brittain II of Bankers Trust, George Moore of First National City Bank, and Robert Wallace of Exchange National Bank of Chicago rejected collusion claims. They blamed Fed policy and CD rates for funding pressures, while urging presidential leadership to curb price and wage rises. Javits criticized Fed policies, saying brakes were applied too hard.
MENTIONED IN THIS ARTICLE
Washington (Ap
Wright Patman
Dtex
House Banking Committee
Alfred Brittain II
Bankers Trust Co
New York
Patman
Treasury
Federal Reserve
Brittain
George S. Moore
First National City Bank of New York
Bankers Trust
Moore
Robert A. Wallace
Exchange National Bank of Chicago
Nixon
Wallace
New York State Bankers Association
American Bankers Association
Jack K. Javits
R-N.y
Controversial Union Leader Indicted On Conspiracy and Extortion
In New Orleans a five count federal indictment charges Edward Grady Partin Teamsters Local 5 business manager Baton Rouge with conspiracy and extortion. Also named are Ted Dunham Jr. and three Dunham firms for coercing concrete buyers to deal only with those companies through strikes and property damage at construction sites.
MENTIONED IN THIS ARTICLE
New Orleans
Teamgiers
James R. Hoffa
Edward Grady Partin
Teamsters Local 5
Baton Rouge
Partin
Justice Department
Ted ¥. Dunham Jr
Dunham
Dunham Concrete Products, Inc
Louisiana Ready Mix Co
Altex Ready Mixed Concrete Co
Heck
Parlin
Sid Lacey
Dunham, Concrete Products
Dunham Concrete
Louisiana Ready-Mix
U.S. Atty
Louis LaCour
Herbert W. Christenberry
U.S. District Court
Christenberry
Partin and
Maximan
Rockefeller visit in Paraguay marked by calm with sporadic clashes
Rockefeller’s Paraguay trip remained largely peaceful despite Friday street clashes between students and police at the National University in Asuncion. Police fired warning shots after removing a rubber-fire barrier. one protester and a officer were injured while Rockefeller was welcomed at the airport and met with President Stroessner and Paraguayan students.
MENTIONED IN THIS ARTICLE
Rockefeller
Paraguay
National University
Asuncion
Encantado
New York
Alcedo Strasssner
Iho
Latin America
Stroessner
Port of Spain
Trinidad
United States
Inter-American Economic and Social Council
Charles Meyer
U.S
Inter-american Affairs
Inflation and tax surcharge debate on U S inflation policy
In a bankers address Martin warns fixed income bonds become second class securities if inflation persists and deflation may trigger unemployment. He calls for higher 10 percent income tax surcharge extendable beyond January and likens inflation relief to slowing a car from 90 to 25 miles per hour to avoid lagging progress.
MENTIONED IN THIS ARTICLE
United States
Martin
Martin Reiies
Federal Reserve Beard
Tie
Nixon
U.S
Pompidou Becomes French President in June Runoff
Pompidou formally assumed the presidency after defeating Alain Poher in the June 1 run off. Poher, provisional president, attended the ceremonial Elysee Palace inauguration as Pompidou, resplendent in white tie and Legion of Honor chain, entered the receiving line with outgoing government. Poher’s handshake with Roger Frey was brief and he did not extend greetings to other ministers.
MENTIONED IN THIS ARTICLE
National Assembly
de Gaulle
Pompidou
Alain Poher
Poher
Elysee Palace
France
Legion of Honor
Rhodesian Referendum Backed Republic and White Rule
In Salisbury Rhodesia Prime Minister Ian Smith’s regime won unofficial results from 33 of 150 constituencies showing 42 558 yes and 9 722 no on establishing a republic free of ties to the British crown and 37 934 yes and 14 272 no on constitutional revisions to perpetuate white minority rule. Smith said the outcome is a strong world statement, noting Rhodesians have their heads screwed on right. The country, about California sized with five million people, has 90 000 whites among eligible voters and a political move toward entrenching white civilization amid African majority rule fears.
MENTIONED IN THIS ARTICLE
Salisbury
Rhodesia
Ian Smith
Smith
Salish
California
Smitfs
Rodney Simmonds
Major Narcotics Lab Seized in Federal Crackdown
Federal agents seized 22 pounds of methadone and shut down a complete clandestine laboratory in a major operation. Dr James L Harper, 38, Tupelo Mississippi, and Oliver Joseph Johnson, 33, Baltimore, were arrested. Methadone valued at 500000 to 1500000 dollars.
MENTIONED IN THIS ARTICLE
Washington
Justice Department
Mississippi
John I. Ingersoll
Bureau of Narcotics and Dangerous Drugs
Ingersoll
Mississippi Highway Patrol
James L. Harper
Tupelo
Miss
Oliver Joseph Johnson
Baltimore
Eile
Los Angeles County
Calif
US forces blunt Viet Cong push on Tay Ninh city
US officials said the operation failed to seize Tay Ninh city, with North Vietnamese and Viet Cong troops pushing into the edge of the city. Civilians suffered casualties while chaos and destruction returned as allied fire and sweeps continued, suggesting the pressure may resume.
MENTIONED IN THIS ARTICLE
Tay Ninh
Cambodia
Cao Tai
U.S. 25Th Division
Four U.S. Fishing Boats Seized Off Ecuador Coast
Reports from Washington say the four U.S. boats were released without damage and no fines. The incident follows recent seizures tied to 200 mile territorial claims by Peru, Ecuador, and Chile while the United States recognizes only 12 miles. Congress weighs sanctions amid US efforts for a multilateral conference to settle the fishery dispute.
MENTIONED IN THIS ARTICLE
Washington
U.S
South American
Peru
Ecuador
Chile
United States
State Department
Thomas M. Pelly
D-Wash
Ecuadorian
Salinas
Edward A. Garmals
Dmd
Congress
Garmatz
House Merchant Marine Committee
Quito
Guyaquil
Jane's Fighting Ships
Guayaquil
U.S. Coast Guard
Lima
Pelly
George Murphy
R-Calif
Nixon
Pern
Tax Bill Increase Aims for 88.5 Million Revenue
The plan would cap the maximum remaining at 120 dollars and generate about 88.5 million. It proposes raising the rate by one quarter for building assessments and related charges.
Senator Saxbe Calls U S Militaristic and Off Balance
Ohio Republican senator William Saxbe 52 says the nation has become a militaristic state with priorities out of balance. He notes fellow freshmen Cook Schweiker Mathias share the view and seeks to curb the military bureau cra and reassert civilian control amid a Nixon administration he doubts. He traces GOP roots to Lincoln lineage and notes a long career as Ohio attorney general before Senate.
MENTIONED IN THIS ARTICLE
Washington
William B. Saxbe
Ohio
United States
Congress
Congressional Conference
Saxbe
Robert A. Taft
Ohio Republican
Republican Party
Marlow Cook
Kentucky
Richard Schweiker
Pennsylvania
Charles McC. Mathias Jr
Maryland
Everett M. Dirksen
Senate
Saxhe
Nixon
Abraham Lincoln
Roanoke rally highlights law and order push in Virginia race
Pollard and Farley rallied Friday night in Roanoke County pushing a law and order platform. They spoke to parents as children played and ate, while candidates Thompson and Battle also organized campaign support. Battle stressed improving education statewide as key, with Sportsmen for Battle led by Axselle and Giles in the works.
MENTIONED IN THIS ARTICLE
General Assembly
Pollard
Del
Guy O. Farley
Law and Order
Roanoke County
Battle
Sportsmen For Battle
Vinny Giles
Lynchburg
Virginia
Ken Willard
Richmond
Ptah
San Francisco 49Ers
NFLN
Ralph L. Axselle Jr
Hot Springs
Nations weigh troop shifts in Vietnam war
Thai foreign minister cites rising Thai force levels from one battalion to a division in South Vietnam after high level talks in 1967. South Korea says 40,000 troops is its max given North Korean provocations. Australia notes its effort mirrors affordability and warns of possible US withdrawal before a settlement.
MENTIONED IN THIS ARTICLE
South Vietnam
Clifford
Thailand
Johnson
Vietnam
Dawee Chullasapya
South Korea
Korea Herald
U.S
Chunk Hee Park
Australia
T His
Nixon and ABM debate hinges on Senate votes and pace
Senators spar over Nixon critique of Democrats on ABM deployment. Scott says White House plan has 50 or 51 Senate votes and praises speed. Mansfield predicts an undecided outcome with potential one to three vote edge for administration under pressure. Mansfield expects tough questioning of Laird and Helms about Nixon’s footprints remark and the ABM rationale.
MENTIONED IN THIS ARTICLE
Mansfield
Clifford
Nixon
Sen
Hugh Scott
Pennsylvania
Senate Gop
Scott
Washington
Senate
Melvin R. Laird
CIA
Richard Helms
Senate Foreign Relations Committee
FAA studying career options to attract air traffic controllers
Controllers say demand forced reduced separation from three to fourteen miles, triggering FAA landings restrictions at New York airports. Thursday delays halted takeoffs as more than 200 flights were canceled in New York alone, with ripple effects nationwide.
MENTIONED IN THIS ARTICLE
Tem
FAA
New York
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Rocky
BiLl Williams
Yackety
Yacikety
Sanitone
Lynn St
STAR
Main St
Riverside
Dial
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