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Newspaper
Lubbock Avalanche Journal
Location
Lubbock, Texas, United States of America
Date
Dec 01, 1970
Page
6
The Federal Reserve lowered the discount rate to expected levels and tightened restrictions on early overseas loan repayments. Economists expect cheaper money to travel through banks, potentially lowering consumer loan costs in coming months while unemployment stands at 5.6 percent in October.
Cambodian and allied forces report fierce battles across multiple fronts near Phnom Penh as the northern line buckles. A bomb damaged the U.S. Embassy at dawn injuring one civilian. two Cambodian guards detained. Wider clashes trench into Kompong Cham and Prey Totng areas with high casualties claimed by both sides.
Christmas bonuses fade as firms cut back amid slower business though many workers still receive gifts like cash turkeys and hams. American Management Association notes 75 percent of companies will skip bonuses this year versus 67 percent last year. Eastman Kodak plans a record 95.6 million wage dividend for 67,500 U.S. employees on March 19.
The Lubbock Board of Realtors hosts a banquet tonight at the Lubbock Country Club to name Realtor of the Year and Salesman of the Year and to install 1971 officers and directors led by President Buddy Barron. Directors include Dave Sherrill Everette Abernathie Glenn Antwine Roe Battistoni Brownlie Brownlee Bobby Day and others.
The 1970 census prompts reapportionment with no House size change since 1910. California remains the most populous. Texas gains seats to 24. Nevada shows the fastest growth while many states shift in ranking.
The article recalls the US Space Scope program and its costly satellite fleet. OAO 1 failed shortly after launch in 1966, OAO 2 launched December 7, 1968 and continues to send data from a 16 inch telescope, and OAO 3 would have reached for ultraviolet light from young hot stars with a 38 inch telescope amid a 328 600 part build. The Alaska ground near Point Barrow lies frozen to 1330 feet.
A Pacific cold front moved into Texas bringing unseasonably warm readings Monday with a sharp drop forecast today. Lubbock hit 78 degrees, Davis Mountains saw 55 mph winds, and readings ranged to 86 at Laredo and 85 at Alice and McAllen while Marfa reported 32.
Secretary Melvin Laird defended his Senate testimony on Vietnam and Hanoi air strikes, saying Fulbright asked the wrong questions. He announced the U S would maintain current NATO strength through mid 1972, with possible small troop changes offset by equipment. he spoke ahead of NATO talks in Brussels.
In Santiago officials in the government building where Marxist President Salvador Allende works have been ordered to punch time clocks, but Prisons Agency employees have been told to stop.
Huss estimates the meteorite exploded at 20 miles or higher over southeastern Lynn County near Grassland. Residents below reportedly heard nothing, making recovery of fragments unlikely. He invites tips or fragments to P O Box 2098 Denver Colorado 80201 and notes the American Meteorite Laboratory is a one person operation funded by grants and lectures.
Thomas F. Diaz 41 faces trial in 23rd District Court for attempted rape after allegedly breaking into a Lubbock home on March 22 and attempting to assault a 20 year old housewife. The husband testified Diaz was found in the bedroom and fled when confronted. Diaz had been released from prison December 23 after a burglary with intent to commit rape sentence.
A presidential commission urged building a sea level canal a few miles west of the current Panama Canal at a cost of 2.88 billion dollars. The route would lie in Panama outside the Canal Zone and be run by a canal authority, with sovereignty assurances and conventional construction methods preferred over nuclear options. Other routes near the region were studied, and the proposed channel would be about 550 feet wide.
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