07 Dec 1965
Page 1
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Newspaper
Lubbock Avalanche Journal
Location
Lubbock, Texas, United States of America
Date
Dec 07, 1965
Page
1
139 letters arrive as Goodfellow drive expands to aid underprivileged kids in Lubbock city limits. Readers describe households with multiple children needing gifts and groceries, while volunteers report growing support and urgency.
In a page 11 section A report, Brezhnev appears to curb the power of a man viewed as his possible successor. The item suggests leadership maneuvering within the Soviet leadership and sets context for power dynamics ahead of potential leadership changes.
The Soviet Union admitted another soft landing attempt failed at final stage of Luna 8. Tass said all other stages worked, signals were heard at two seconds after impact, and the flight still marks a step toward soft lunar landing.
The 19th annual Lubbock Avalanche-Journal Home Christmas Lighting Contest attracts 16 new entries, bringing total to 98. Homes at 67 locations feature displays including a pulleys and motor hoist reindeer scene and stained glass window themes. lights to be lit at 6 p.m. Saturday.
A lighthearted column recalls restless nights caused by household sounds and neighborhood activity. From a dryer to distant traffic, the piece sketches a city at sleep, with near misses of quiet and noisy mischief all around.
The Federal Reserve raised the discount rate to 4 percent and the deposit ceiling to 53 percent, triggering immediate stock and bond declines and higher loan rates. Banks may pay more for deposits, while the prime loan rate rose to 5 percent. The move split opinions between the Johnson administration and the Fed but aimed to reduce the balance of payments deficit amid global reactions.
The New York Stock Exchange opened with sharp declines after a discount rate hike but rebounded later as volume hit 11.48 million shares. The Dow fell 17.60 in early trading, ending at 939.53, with 1,000 issues down and 240 up. Brokers warned higher borrowing costs could slow business expansion.
Washington reports McNamara will announce Wednesday the elimination of a Pacific Defense Early Warning line segment and its replacement by a secret detection network. The plan cuts 149 bases worldwide, saving 41 million annually and reducing 53,000 jobs, with Texas shifts including Bergstrom AFB increased activity and Biggs AFB closed. Congress warns of potential costs while new detection tech replaces DEW assets, possibly extending to border units.
A short anonymous reflection asks for strength to serve the country amid what is described as a modern era of constant crisis. The message frames service as a personal call to duty and resilience.
John W Mecom agreed to purchase The Houston Chronicle, Rice Hotel and related properties from Houston Endowment Inc for 835 million dollars. The sale also includes stock in Texas National Bank of Commerce, of which Mecom becomes a director, and Mecom will take ownership promptly.
In Lubbock and vicinity fair conditions today and tonight. Warmer daytime high in the mid 70s with a low near 30. Light variable winds.
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