Fed signals easing tight money stance and rate declines
Chairman Arthur Burns indicated the Fed has loosened tight money policy, with rates already falling for treasury bills and other big borrowers. He projected modest home loan rate declines this year and a substantial drop by 1972, noting mortgage rates tend to follow money markets after a lag.
MENTIONED IN THIS ARTICLE
Washington
UPI
Arthur F. Burns
Federal Reserve Board
Burns
Treasury
Senate Banking Committee
Nixon
HUD
George W. Romney
FEC
Romney
Department of Housing and Urban Development
Sihanouk Ousted as Cambodia Chief of State by National Assembly
The Cambodian National Assembly unanimously voted no confidence in Prince Norodom Sihanouk and named Cheng Heng acting head of state. Sihanouk, in Moscow, warned of war if Viet Cong and North Vietnamese forces remain, as protests and embassy burnings erupted in Phnom Penh.
MENTIONED IN THIS ARTICLE
Bangkok
UPI
Cambodian National Assembly
Norodom Sihanouk
Phnom Penh
Sihanouk
Moscow
Kremlin
National Assembly
Cheng Heng
Cheng
Cambodia
Council of the Kingdom
United States
North Vietnam
Alexei N. Kosygin
Lon Nol
South Vietnam
Million Dollar Westmont Fire Destroys Administration Building
A 1 million blaze at Westmont College damaged the administration building, the Dwight Murphy mansion, with 40 people escaping. Students aided in rescuing records and equipment as fire crews from Santa Barbara Montecito and Carpinteria contained the fire. Officials cited the heating unit on the first floor and found no arson indication.
MENTIONED IN THIS ARTICLE
Montecito
UPI
Westmont College
Dwight Murphy
Santa Barbara
Carpinteria
Three Year School Tax Override Fails in Los Angeles
Final returns from 889 precincts show 99 134 in favor and 356 661 against the 1.31 per 100 assessed value three year school tax override. Voter turnout exceeded 34 percent amid busing campus unrest and talk of a teachers strike later this year. City Council candidates Paul and Betty Thompson revive interest in strolling in the city.
MENTIONED IN THIS ARTICLE
Los Angeles
UPI
Paul
Betty Thompson
Beattie Warns Of Resignation Over Disclosure Bill
School Board Trustee John Beattie warned there will be resignations if broad financial disclosure legislation AB 430 passes, saying his own resignation is possible and urging superintendents to pressure for passage while noting district costs from special elections. The board also approved a new 91 passenger bus purchase with trade in still under study and set teacher salaries at 6.1 million for 1970 71.
MENTIONED IN THIS ARTICLE
John Beattie
Beattie
Glen Wegner
Crown Coach Co
Cabrillo High School Little Theater
Vanderbelles
Vandenberg Air Force Base
Robert Lagomarsino
County Board of Supervisors
Lompoc
Priority list sought for street pavings
The Lompoc City Council asked staff to set a paving priority list and budget for unimproved and substandard streets. A cost schedule showed about 800000 for half and full width streets with 31000 for curbs and gutters, plus 190000 for sidewalks to reach about 1 million.
MENTIONED IN THIS ARTICLE
Lompoc
Ken Dawson
Dawson
James Longtin
Hahn to Run for Senate Nomination in California
Los Angeles reports that County Supervisor Kenith Hahn 49 announces Democratic bid for U S Senate seat held by George Murphy. Hahn joins Rep John Tunney and George Brown in the race with early campaign travels to San Francisco Sacramento and San Diego after serving since 1947 as city councilman and since 1952 on the Board of Supervisors.
MENTIONED IN THIS ARTICLE
Los Angeles
UPI
Kenith Hahn
U.S. Senate
Hahn
John Tunney
Riverside
George Brown
Monterey Park
George Murphy
Board of Supervisors
Los Angeles Press Club
San Francisco
Sacramento
San Diego
Weather outlook with mixed temperatures and tides
Fair through Thursday with highs in the 60s today and mid 60s to mid 70s by Thursday. Lows tonight in the upper 30s to low 40s. North winds 10 to 20 mph decreasing tonight. Thursday tides include high 5.0 feet at 7 50 a.m. and 4.2 feet at 8 56 p.m. Low tides 1.7 feet at 1 56 a.m. and minus 0 3 feet at 2 38 p.m.
Billion price tag to combat pollution in California
A California Assembly committee urged spending 3 to 5 billion dollars in the next decade to curb pollution and protect beaches and high priority lands. It proposed a 7 percent excise tax on new cars or a 15 cent cigarette tax, or a 500 million dollar bond issue to back environmental programs.
MENTIONED IN THIS ARTICLE
Sacramento
UPS
California
Golden State
Assembly Select Committee On Environmental Quality
Assembly
Robert T. Monagan
Murder charged after jetliner gun battle kills co pilot
State police obtained a murder warrant for John Divivo 27 of West New York N J after he shot and killed Eastern Airlines DC9 copilot James Hartley 31 of Fort Lee N J during a Newark to Boston flight. Capt Robert Wilbur 35 of Fair Lawn N J wrestled the gunman and landed the plane at Logan airport. Divivo remained wounded at Massachusetts General Hospital under guard awaiting arrest.
MENTIONED IN THIS ARTICLE
Boston
UPI
Newark
N.J
Robert W. Wilbur Jr
Fair Lawn
Eastern Air Lines
Logan International
James E. Hartley
Fort Lee, N.J
Wilbur
Air Force
John Divivo
West New York
Massachusetts General Hospital
Polluters named in state water quality report
The Assembly Select Committee on Environmental Quality identified state agencies and about two dozen military installations including Vandenberg AFB as polluters of California waters. It urged immediate reporting on ecologic impacts and urged action by state and federal governments to curb pollution by these entities.
MENTIONED IN THIS ARTICLE
Assembly Select Committee On
Vandenberg Air Force Base
California
Atascadero State Hospital
Institution For Men
Chino
Institution
Frontera
Deuel Vocational Institution
Tracy
Folsom Prison
Porterville State Hospital
San Quentin
Soledad
University of California At
Alameda Nas
Concord Naval Weapons Station
Construction Battalion Center
Port Hueneme
North Island Nas
Mare Island
Point Molate
Salton Sea Test Base
San Clemente Island
San Nicholas Island
Skaggs Island
Yerba Buena Island
Vandenberg Afb
Also Mentioned on This Page
Ernest Bailey
Lompoc Hospital
Audrey Hamby
Isabelle Reddy
Jean Martin
Bailey
Palo Alto
Stanford University
Baileys
Bailey Road
Soviet Union
Westmont
L.A
Ermino Manfrina
Olympia Manfrina
Josephine Bishop
George R. Sanor
Congress
By Warren Carlson
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