Industry surge lifts output speed and hiring outlook
UPI reports factories and mines boosting production by 1.9 percent in August and jobless benefits dropping to a nine month low. Auto makers announce over 4,600 new hires to meet overtime demand as GM projects 21 percent sales rise for 1976 models through year end.
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Thomas Murphy
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Goldwater Warns Audience of U S Welfare State
Senator Barry Goldwater warned at a Santa Maria fundraiser that the nation risks a welfare state and potential bankruptcy in a third century unless Washington tightens. He cited food stamps clothing stamps and rent subsidies and faulted federal deficits and bureaucrats. He urged free market reforms and urged Ford to stay in office.
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Kissinger Leaves for China Ahead of Ford Visit
Secretary of State Kissinger departed from Andrews Air Force Base to prepare for President Ford's Peking trip aimed at shaping Sino American ties. He will seek conditions for improved relations, with Mao and Chou possibly unable to meet him. The trip may yield no major announcements, underscoring careful diplomacy.
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Market Crisis Pushes NYC Debts Toward Default
New York City faces a potential default on 453 million in debts as stock markets fall and bond trading halts. Banks' shares drop sharply while the Federal Reserve contemplates emergency support and officials seek last minute cash infusions.
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Ford firm denies federal aid to avert New York City default
President Ford will not take action to prevent a New York City default, saying the city and state have the means to avert it. The White House stressed no statutory authority and a belief that a short-term infusion would not solve long-term problems. Ford showed sympathy for New York's people but offered no contingency plans.
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Brezhnev Holds Talks With Giscard d Estaing In Moscow
Brezhnev, recovering from a cold, meets French President Giscard d Estaing in Moscow. They hold intensive talks and sign a declaration of friendship after two negotiating sessions that followed a postponed meeting due to Brezhnev’s illness.
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UPI
Leonid Brezhnev
Valery Giscard d Estaing
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