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Newspaper
Hope Star
Location
Hope, Arkansas, United States of America
Date
Feb 04, 1971
Page
4
AP Business Analyst John Cunniff outlines how Nixon abandoned traditional Republican economic principles. The administration moved away from a balanced budget and defers to monetary policy, pursuing spending restraint yet endorsing deficit financing while pushing low interest rates and critiquing industrial price rises.
LITTLE ROCK Arkansas House Revenue and Taxation Committee urges passage of a bill to repeal the 1969 real estate transfer tax set at 3 dollars per 1000 of property value. Reps Gean McDonald and John Miller sponsor the measure noting the tax raised about 2 million dollars but was uncontrollable and unfair. Other bills seek to reduce the tax.
An explosion at Thiokol Chemical Corp. in Brunswick Georgia killed 24 workers and injured many more. Witness Lillie Mae Rainey 18 described a fierce fire and blast as debris ripped through buildings. Investigators from Thiokol Army and FBI probed the ruins for the cause of the blast and noted burning materials inside the building while ruling out high explosives.
Rescue crews moved injured to hospitals in St. Marys Brunswick and Jacksonville as a plant nurse described treating patients with Demerol doses. A makeshift morgue in the lunchroom held 16 corpses in bloodied wrappings, identified by relatives. The Thickol Chemical plant, built in 1964, produced military munitions and commercial insecticides before the blast.
Rolls-Royce, Britain’s major aero and luxury car maker, said it will enter receivership with the government taking control of assets essential to defense and international cooperation. The move follows soaring engine development costs for Lockheed’s Tristar and threatens the Tristar project despite plans to retain international ties. Receiver E Roper Nicholson will manage the firm’s fate, including possible bankruptcy, while the government plans a parliamentary statement. Rolls, a key defense contractor and engine supplier for Concorde, reported losses of about 115.4 million dollars on the Tristar deal and forecast substantial layoffs from 90,000 staff.
Wednesday results include Chicago 4 New York 2 Boston 7 Los Angeles 3 Detroit 4 Minnesota 4 Pittsburgh 6 California 1 Toronto 6 St Louis 2. Thursday slate features New York at Detroit Los Angeles at Buffalo Chicago at Philadelphia. Friday brings Montreal at California Pittsburgh at St Louis.
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