25 Aug 1975
Page 1
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Newspaper
Kingsport Times
Location
Kingsport, Tennessee, United States of America
Date
Aug 25, 1975
Page
1
Right wing demonstrators assault the Communist party headquarters in Horta Faial island, setting furniture papers and pamphlets ablaze before evacuation of party members. Troops block the building as authorities separate demonstrators and escort Communists home.
John Wayne, 68, rests at Hoag Memorial after tests and treatment for a cough. Family says a staph infection, not cancer, is the issue. Wayne previously had part of a lung removed in 1964 for malignancy and recently completed Rooster Cogburn with Katharine Hepburn. He remains a major box office figure with over 200 films.
Federal Reserve Chairman Arthur Burns told CBS that inflation remains a very serious problem but can be eased with proper government policies. He warned July’s 14 percent annual rate is a temporary setback and noted grain sales to the Soviet Union could lift domestic food prices by around two percent, possibly more than the 1.5 percent cited by Earl Butz.
UPI reports over a decade more than $300 million in legal and illegal payments flowed from 36 corporations to foreign and domestic politicians and agents. Exxon led with $46 million, while Lockheed and Northrop also paid large sums. Proxmire’s Senate hearing examines the practice amid governance and campaign-contribution questions.
Mobil chairman Rawleigh Warner urged Congress to pass a phased decontrol of oil prices, warning immediate decontrol could shock the fragile economy. He favored decontrolling the smaller share of old oil gradually to avoid a $8 billion yearly price surge.
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