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This newspaper page contains 12 articles. Subscribers can read the full text of each article.
Newspaper
Lubbock Avalanche Journal
Location
Lubbock, Texas, United States of America
Date
Sep 24, 1971
Page
6
The article notes a Texas House Speaker and others facing trial amid coverage of a public event. A Rotarian speaker emphasizes goodwill and loyalty to country and world, urging mutual understanding to curb hatred and prevent chaos.
U S and South Vietnamese forces began special alerts to Oct 6 to counter increasing enemy activity aimed at disrupting South Vietnam's October 3 presidential election. U S jets attacked a North Vietnam gun position near the Lans border. two planes were not shot down.
The Sharpstown stock fraud case indicts several top Texas officials and financiers over two 1969 bills connecting bank deposits and a state corporation. Accused are Osorio former governor. Mutscher former lawmaker. Shannon and McGinty linked to National Bankers Life stock dealings. Sharpstown Bank is in liquidation and the insurance firm under conservatorship.
Britain and Nationalist China challenged the legality of the U.S. effort to seat two Chinas in the United Nations. British UN Ambassador Sir Colin Crowe said London would oppose any move delaying Communist China's seating, citing questions about compatibility with the UN Charter.
The FDIC as Sharpstown State Bank receiver files a 1.29 million suit in Houston district court against former Texas AG Waggoner Carr and ex Texas Insurance Commissioner John Osorio and others. The complaint cites a 1.25 million loan from Sharpstown Bank around April 1969 and a 25 075 note paid in 1970 amid prior stock trial actions.
President Nixon told an audience that profits fund government programs and spur growth by expanding plants and equipment. He insisted profits mean more jobs, stressed price and cost control, and urged the crowd to “Freeze War, Not Prices” while praising profits as essential to a rising economy. The Detroit appearance followed a failed 1968 vote setback in Michigan and featured a large police presence as demonstrators urged a broader economic discussion.
President Nixon signaled in Detroit that he will name Rep. Richard E. Poff a Virginia Republican to one of two Supreme Court vacancies. He said the appointee need not be a judge and could be a legislator with judiciary committee experience. Poff has been a frequent court possibility and is the second ranking Republican on the House Judiciary Committee.
President Nixon said the possibility of controlling interest rates is under consideration but no decision has been made. He noted phase 2 is still open regarding consumer loans, and the 90 day freeze does not include credit controls though standby authority exists for the Fed to impose them.
A Denton County deputy sheriff, 23 year old Danny Hoyt Cobb, was wounded by a shotgun blast during a Lake Dallas drug raid. Dallas vice squad Detective John R. Allen fired at a man with a gun after entering the house. Cobb is reported in serious condition.
AP dispatch from Warsaw reports that a Polish paper cites foreign sources in Peking claiming substantial political changes in China. Rumors include removal of Mao busts and pictures with no official confirmation, while China watchers note rising tension near the Soviet border and before President Nixon’s visit.
Six witnesses testified in Dallas as part of a broader grand jury inquiry into a Dallas based life insurance firm. Debtors faced SEC actions while stock troubles arose from Sharp controlled banks funding the company.
Justice vacancies affect the court as Harlan is stepping down and treatment is underway for spine cancer. The high court's fall term is set to begin October 4 with seven justices remaining.
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