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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Aug 20, 1971
Page
3
A warm humid weekend is ahead with fog in the early hours and scattered thundershowers in the afternoons and evenings. Highs will be in the upper 80s to low 90s in North Carolina and low to mid 90s in South Carolina, with lows mainly in the 60s to 70s.
Washington reports ongoing confusion as Nixon suspends free dollar convertibility to gold. European markets closed, Japan buys dollars to defend yen value, and tourist currencies fluctuate. Brussels talks fail to align on a plan while markets await reopenings and new exchange rates.
Britain and the six Common Market nations agreed to reopen their currency exchanges on Monday with fixed rates but no unified policy for dollar values. France and West Germany differed over float versus controlled rates, foiling a single approach. France favors a double rate system while Belgium already uses such a system. Public statement links IMF reform and exchange rate changes to Nixon policy.
Nursing graduate Jean Carole Norman daughter of Mr and Mrs Ralph T Norman of 1104 Greenway Drive received a Master of Nursing degree from Emory University during ceremonies held there Saturday August 14.
The Federal Home Loan Bank Board moved to cut conventional loan down payments to five percent for single family homes up to 30,000 dollars. Loans require mortgage insurance, are targeted at moderate and low income buyers, and do not compete with FHA or VA programs.
Four defendants received federal sentences in a case involving a winter time attempt to smuggle Jamaica grown marijuana valued over 2 million dollars into the United States. Judge J. Robert Martin Jr. handed two straight prison terms and suspended sentences to the other two with sentencing for two more defendants postponed. David L. Laxner alias David Rubin, 23, Nevada City California, drew four years. Leon Tabory, 45, La Selva Beach California, received three years.
South Vietnamese tanks and infantry clash with North Vietnamese forces along the DMZ for the eighth day. In eastern Cambodia fighting erupts with 37 North Vietnamese and 17 South Vietnamese dead, three South Vietnamese wounded. South Vietnamese artillery shifts from Fire Base Sarge while U S B52 bombers strike the DMZ for the ninth straight day.
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