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Newspaper
Middletown Journal
Location
Middletown, Ohio, United States of America
Date
Jan 29, 1971
Page
1
President Nixon called for a record 229.2 billion dollar spending plan for fiscal 1972 built on two deficits totaling 30.2 billion. He urged an activist budget to restore prosperity with no new taxes and outlined defense and social security plans along with revenue sharing.
Reports from the South African Press Association say Cyclone Felice caused catastrophic floods in Mozambique with hundreds feared dead. Pilots earlier described Quelimane as an island amidst water over palm trees, severed roads, and widespread isolation.
Chrysler Corp faces a six day deadline as 10 000 union represented salaried workers threaten a walkout. UAW Vice President Douglas Fraser says a strike could force shutdown if no contract agreement is reached by 10 a m Tuesday. White collar workers would cross lines but keep essential payroll and scheduling moving.
A. L. Posey of Tampa watches as a Soldier in fatigues hurls a firebomb at plywood at Ft. Rucker in a federal training demo. The IRS says 550 agents in the Southeast have received at least four hours of instruction on evidence collection and explosive types. Explosives were detonated at Ft. Rucker Ft. McClellan Ft. Gordon and Ft. Bragg during nationwide demonstrations.
A chance of an inch or two of snow tonight as temperatures inch up. Lows stay in the low 30s, then fall back into the 20s tomorrow. Yesterday’s high reached 17 with a morning low of 8.
Bitter cold and heavy snow strained the Northeast as electric shortages forced New York utilities to cut voltage by five percent to conserve capacity. Mass outages occurred in a few states while New England returned to normal by nightfall. Four climbers missing on Mount Washington faced harsh winds and subzero temps as southern areas saw frost and unseasonable warmth in the West.
A 17 year old hospital patient shot Sheriff’s Deputy Roger Rosengren, 37, twice in the chest with a .32 caliber pistol and then seized hostage while seeking discharge. The youth was overpowered on leaving the building as police delayed charges due to juvenile status. Dr Stephen Pliska, a Portland doctor, witnessed two shots and aided in stalling the youth.
Armco Steel Corp declares 25 cent per share common stock dividend down from 4 dollars and 52.5 cents on cumulative convertible preferred stock as 1970 earnings fall sharply. Unaudited Q4 earnings come to 22 cents a share on $383.8 million in sales. year figures show earnings of $56.2 million on $1.58 billion in sales. Costs for coal and scrap rose sharply, hitting margins amid inflation and strikes in Kansas City and GM.
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