17 May 1973
Page 1
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Newspaper
Lubbock Avalanche Journal
Location
Lubbock, Texas, United States of America
Date
May 17, 1973
Page
1
The Federal Reserve Board orders member banks to raise reserves from 5 to 8 percent on growth in large certificates of deposit and to curb bank credit expansion to slow inflation. The action targets business lending and lifts the ceiling on interest rates paid on CDs.
Two men died and a third was injured when an aluminum irrigation pipe contacted a 7200 volt overhead line near Patricia in Martin County. Esteban Yanez Valerio and Alfonso Calvio were killed while attempting to shake a rabbit from the pipe. Robert Oaks was hospitalized in satisfactory condition after being knocked away. The trio worked for Newcomer Butane Co. and were removing tanks at the E and E Farm, 9.5 miles west and 3 miles south of here, as Caprock Electric Co. cut power to allow recovery.
The Nixon White House faces renewed scrutiny as prosecutors weigh whether aides including John W. Dean and H R Haldeman will testify in an in house investigation into the Watergate affair. Grand jury votes and witness lists shape a testy pre trial period with possible indictments for Dean Haldeman and Ehrlichman.
Gordon Zeigler reports a New Mexico plan to substitute routes rather than abandon air service to Hobbs and Carlsbad. Bob White of the Aviation Department leads a meeting with three commuter carriers to study a route substitution that could bypass TI and prompt quicker CAB approval.
A well dressed young mother grabbed the controls of an unmanned locomotive and drove a 28 car Sea Road Coastline train about 30 miles. Railroad crews diverted the train to side tracks twice, and the engine eventually crashed and derailed near Pierson.
Highs in the low 80s today with tonight under 50s and a high mid 80s Friday. Eastern to southeast winds, no precipitation expected. A separate incident describes a gondola derailment near Sanford after a freight train collision, with Mary Lane Pitkin charged with grand larceny and about 30,000 dollars in damage amid reports of someone possibly jumping from a car.
Tech construction chief discusses a six lane street project linking Indiana Avenue to the campus as part of a larger $1.7 million thoroughfare plan. He cites a $250 million medical school complex and a future campus for 30 000 to 40 000 people, with debate delaying immediate work.
Residents debate Indiana Avenue as a primary route from south Lubbock to the medical school and county teaching hospital west of Indiana, with others viewing the Indiana extension as boosting access between south Lubbock and downtown near Coliseum Jones Stadium. One speaker questions why travelers would use Indiana to reach Brownfield Highway, suggesting east on 19th Street or northward options.
A reader offers a closing prayer invoking God to bless noble dreams with Christlike love for people in Jesus' name.
Washington AP G Bradford Cook resigns as SEC chair amid criticism for discussing an SEC suit with Nixon campaign officials. Indictments in New York accuse top campaign figures of pressuring the SEC probe related to Vesco funds and a Bahamas transfer. Cook, 36, says he did nothing improper but was caught in a web of circumstance.
A 23 year old Vietnamese woman told Richmond police a robber with a pistol came to her door at 2 PM Wednesday demanding $20. She said she had no money and the assailant warned he would return. He came back at 4 PM and she opened the door to hand over $5 after threats to kick in the door.
Cape Kennedy officials say a sunshield may be deployed to cool Skylab as astronauts prepare for a Sunday launch. Heat has damaged film medicines and some food on the $294 million station. NASA recommends canopy shade and three launch methods are studied for a 28 day mission led by Conrad Kerwin and Weitz.
The Bangladesh government said it would release an unspecified number of the 54 000 prisoners held since last year s liberation war. clemency would apply to those accused of collaborating with Pakistan forces if they pledged loyalty and good conduct.
About 50 Texas juvenile court judges a few probation officers and county attorneys meet at the Red Raider Inn for a conference on juvenile law. The Texas Center for the Judiciary sponsors the event with Bar Association support to review procedures from police contact to sentencing.
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