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High Point Enterprise in High Point, North Carolina

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Newspaper

High Point Enterprise

Location

High Point, North Carolina, United States of America

Date

Mar 07, 1974

Page

3

Senate Rejects Federal Pay Increases for Congress and Officials

The Senate killed Nixon's proposed 7.5 percent pay raises for Congress judges and top executives, voting 67-31 to disapprove under the 1967 law. A review of the law by Senate committee chair Gale McGee will decide whether to revise or scrap the framework.

Washington Senate Congress Hugh Scott Nixon House Supreme Court Gale McGee D-Wyo Senate Post Office and Civil Service Committee

Hartford ITT Merger Reversed in IRS Ruling

New York report states the IRS revoked the 1969 ruling that allowed International Telephone and Telegraph to acquire Hartford Fire Insurance. The retroactive action could expose Hartford stockholders and ITT to $30 million to $100 million in avoided capital gains taxes. ITT plans trading suspensions as it seeks court validation of the exchange’s tax-free nature.

New York International Telephone & Telegraph Corp Hartford Fire Insurance Co Internal Revenue Service U.S Hartford ITT IRS Washington Avis, Inc

U S In Recession Say Finance Experts

Finance professors at Wharton forecast the United States is already in a recession and will persist into the first half of the year. The assertion comes from a team at the Wharton School in Philadelphia.

U.S Philadelphia United States Wharton School Wharton University of Pennsylvania College of Finance George R. Green

Prison Escapee Takes Hostages in Florida

An armed state-prison escapee fled from a Gainesville hospital transfer with two inmates, taking a medical technician and another inmate hostage before escaping in a prison wagon. He released the technician and Mayo near Jacksonville. guards were later freed. Police hunted Allen Blackburn and Arthur Mayo across Florida.

Lake Butler Fla Allen Neal Blackburn Walterboro D.C Arthur Lee Mayo Tampa Raiford Gainesville Blackburn South Carolina Jacksonville R.W. Strickler James Tompkins Tompkins C.B. Hatton U.S. 301 Lawtey Stanley West F.D. Spears Mayo Strickler Inter- Jachen Putnam County

Wheat Warnings Persist From Bakers During Shortage Fears

Chicago AP report says baking industry leaders warn of a wheat shortage despite denials by the Agriculture Department and the American Farm Bureau. Robert J. Wager of the American Bakers Association says bakers need 250 to 300 million bushels April through June to avoid disruption, contests the government carryover forecast, and calls for delaying U.S. wheat shipments to foreign buyers until after July 1.

Chicago Agriculture Department American Farm Bureau Federation Robert J. Wager American Bakers Association Earl L. Butz U.S

Also Mentioned on This Page

IRS New York Justice Department Artford Fire Green High Point Grace Flower Shop North Wrenn Westwood Phone Byr Medical Arts Pharmacy Randolph, Thomasville Westchester Santina Kemper Iinsurance John C. Pierce Kemper Insurance Company Tea Kerra Michael H. Smith High Point Bank and Trust Insurance Department Main Street Deel Insurance Stephenson Finance Consumer Credit Linden Ave Amer H.P Heritage H.P. Love Thayer-Coggin Kay Lyn Thayer Coggin Swivel H.P. Sofa Amer. of H.P Globe Rose Furniture CO Hibriten Stanley Thomasville Norris Vaughn Empire Sale Burlington Bassett Unmhaletan N.C.N.B. Bank Americaid S. Elm ST Vestal Kester Brothers & Sons Furniture Co EDI
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