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Newspaper
Middletown Journal
Location
Middletown, Ohio, United States of America
Date
Mar 08, 1975
Page
1
The AP reports that about two thirds of interstate phone calls will cost more after midnight, while a new one minute charge aims to lower costs for brief talkers.
Clear skies and colder temps tonight with lows in the low teens. Sunday brings mostly sunny skies and highs in the mid 30s. Extended outlook shows showers Monday to Wednesday with highs around 50 and lows near 30.
Government and banks push to aid economy with lending rate cuts while AT&T announces a 38 cent rise for residential bills and 3.29 dollar rise for business charges. FCC allows a partial $365 million increase pending hearings as new prices take effect.
Federal Reserve Board and banks move to stimulate borrowing while February unemployment holds at 8.2 percent. Manufacturing jobs decline across all 21 industries as unemployment spreads beyond autos and construction. Dow hits 770.10 on improving market sentiment. Consumers repay debt faster, but new borrowing remains tepid.
Senator Mondale says the new three-fifths cloture rule will speed action on tax reform consumer protection and voter registration in presidential elections. He called the 56 to 27 vote a major reform amid inflation unemployment energy and other crises.
The four major automakers will recall 44,400 hourly workers and run all but two of 53 plants next week while sales seem set to drop without rebates. GM Chrysler AMC run 36 plants, Ford 15 of 17. total furloughed workers fall to 209,150 open ended from 259,000.
The Social Security Advisory Council urged Congress to divert 6 to 7 billion dollars of general treasury receipts into Social Security to offset inflation and unemployment losses. Rep. James A. Burke supports exploring the idea, while President Ford and Caspar Weinberger oppose shifting funding away from the payroll tax. The council also seeks benefit liberalization and reforms to reduce sensitivity to economic shifts.
Secretary of State Henry Kissinger arrived at Aswan to press Egyptian President Anwar Sadat for concrete proposals toward a Sinai settlement with Israel. He planned talks through Sunday before visiting Damascus and Jerusalem, with aims to reassure Syria and coordinate with Brussels and Moscow on a broader Middle East approach.
John Shirey a member of Children of God was released after prosecutors dropped charges of failure to report a death and related counts. An autopsy showed the four month old died of pneumonia with no foul play. Shirey and his partner maintain the infant did not die and was being cleansed of poisons.
The Agriculture Department notes a generally gloomy outlook for farmers with rising costs and falling prices, but cites easing inflation and lower interest rates as hopeful signs. Recovery could begin in the second half of 1975, though farmers remain squeezed entering spring planting season.
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