03 Jan 1975
Page 1
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Newspaper
Middletown Journal
Location
Middletown, Ohio, United States of America
Date
Jan 03, 1975
Page
1
Ohio Vietnam Veterans Bonus Commission trimmed 33 workers, leaving staff under 100 by month end. Director John W. Bush noted the staff peaked at 182 and handled 50,000 to 60,000 monthly applications, now reduced to about 2,000 new appeals weekly.
An independent study by Brookings for the Ford Foundation proposes reducing U S oil imports to 20 25 of total needs to withstand another Arab embargo. It notes 1973 74 import shares above 35 and 36 percent and calls slowing fast breeder reactor development due to safety and security concerns. Independent Petroleum Association of America reports 1974 domestic drilling up 20 4 percent and 1975 output seen at about 10.3 million barrels per day, down 200000 from 1974.
Railway Minister L N Mishra died from injuries after a bomb exploded during a rail line inauguration in Samastipur Bihar. The 51 year old was Indira Gandhi ally and the first cabinet member assassinated since independence. Twenty three others injured in the blast.
The December jobless rate climbs to 7.1 percent, with 6.0 million unemployed the highest since the 1930s. Auto layoffs push total unemployed to 6.5 million while December orders and construction slip. President Ford plans to meet advisers as tax-cut options surface amid worsening recession.
The U S plans to auction about 350 million dollars worth of gold with a 70 000 minimum bid per bid. About 30 sealed bids are in with more expected while prices hover near 175 per ounce.
President Ford summoned CIA Director William Colby, Defense Secretary James R. Schlesinger, and Secretary of State Henry Kissinger to the White House for separate meetings on charges of illegal domestic intelligence activity by the CIA. Administration sources disclosed the meetings.
Gold is offered for private purchase by two Middletown firms Rogers Jewelers and Shearson Hayden Stone with samples available but no orders yet. Delivery is weeks away and pricing ties to the London gold price as of 10:30 a m Middletown time. Market volatility noted with gold near 200 dollars an ounce Tuesday then 175 yesterday.
President Ford warns of CIA and related issues, pressing reforms amid national security worries. White House aides say agencies face overlapping mandates and potential missteps that risk public trust and international standing.
President Ford returns from a 12 day Rocky Mountain ski vacation as Oval Office talks raise a possible statement on a 50 page Colby report about CIA files on 10 000 U S citizens. Colby followed Schlesinger as CIA director and Nessen says Ford will issue a statement by mid next week.
Cloudy skies dash Middletown tonight with lows in the 20s. Saturday will be partly cloudy with highs in the 30s. Yesterday reached 37 during the day and 32 at night, with 2 inches of rain. The extended outlook indicates a chance of rain or snow on Sunday.
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