Auto industry eases price hikes as Ford GM retract
Ford and General Motors back away from planned price increases for 1972 models, marketing cars at 1971 prices for Nixon's 90 day freeze while Chrysler and American Motors weigh similar moves. Officials praise potential repeal of the 7 percent excise tax on new cars.
MENTIONED IN THIS ARTICLE
Lves Wweense
Vosa Auis Vliltd
Chrysler
American Moors
Nixon
Ford
American Motors
Lee A. Lacocca
Balance Of Payments At An All Time Low
The Commerce Department reports the April through June balance-of-payments deficit at 5.766 billion dollars. The broader liquidity balance shows a record 5.848 billion dollar deficit, up from the first quarter and surpassing prior records. Treasury Secretary John leads the briefing.
MENTIONED IN THIS ARTICLE
Commerce Department
General Motors
Treasury
John
Stock Exchange Hits Record Highs on Nixon Economic Message
At the New York Stock Exchange investors cheered President Nixon's economic plan pushing trading to a record 31.7 million shares and 196 blocks of 10,000+, with the Dow Jones average rising 32.93 to 888.95. Chrysler opened late and General Motors skipped trading. oils fell while 1,694 issues moved and 1,503 advanced.
MENTIONED IN THIS ARTICLE
NEW York
Nixon
New York Stock Exchange
General Motors
Chrysler
Wall Street
Nixon policy shift tied to worsening foreign economy
B Connally cited deteriorating foreign finances as the proximate cause of Nixon's policy change. A large trade deficit was blamed partly on anticipated metal imports ahead of steel and copper strikes. The Federal Reserve Board reported July industrial output fell, leaving the index at 106.0 percent of the 1967 base.
MENTIONED IN THIS ARTICLE
B. Connally
Nixon
Federal Reserve Board
OEP Hopes To Stay Small As Nixon Freeze Shakes Bureaucracy
The Office of Emergency Preparedness, a modest Washington agency, is suddenly pressed as Nixon freezes wages prices and rents for nine days. It plans regional offices in Seattle San Francisco Denver Dallas Kansas City Chicago Atlanta Philadelphia New York and Boston each with key staff while relying on private sector good faith. The director a retired general was called back from vacation to lead the response amid the reform push.
MENTIONED IN THIS ARTICLE
Washington
Office of Emergency Preparedness
Nixon
OEP
Seattle
San Francisco
Denver
Dallas
Kansas City
Chicago
Atlanta
Philadelphia
New York
Boston
Justice
OPA
Office of Price Administration
White House
Also Mentioned on This Page
Detroit
U.S
Volkswagen
America
Chevrolet
Detroit Auto
Germany
England
Ireland
Japan
United States
Stock Exchange
Middletown Federal
Middletown “Federal
Middletown
Central
Nam
Trenton
N. Miami SI
Ohio
O.P.A
Southern California
Wet State St
Dial
Maurice E. (Moe
Ridenour
Maverick
Rene
Tytus
Middletown, Ohio
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