26 Nov 1974
Page 1
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Newspaper
Middletown Journal
Location
Middletown, Ohio, United States of America
Date
Nov 26, 1974
Page
1
A legislative panel backs a new 350 million dollar school finance plan to equalize state dollars per mill of local school tax. The measure aims to guarantee 48 dollars per pupil per mill up to 20 mills and 42 dollars per pupil per mill for 20 to 30 mills, phasing in by 1976 with a cost of 350 million for 1976-77.
Treasury Secretary William E. Simon says the United States could endure the longest recession since World War II and possibly be the worst. He predicts unemployment rising to about seven percent by spring with further increases possible, and that the downturn will continue into early 1975 before an upturn by summer.
The Council on Wage and Price Stability hearing heard conflicting views on sugar costs. Refiners deny blame for high prices, while a government study cites windfall profits across the industry as inventories rise. Prices for diet soft drinks fall as sugar use drops.
With 85 of 88 counties reported Rhodes holds a 12 469 vote lead over Gov Gilligan as Summit Cuyahoga and Hamilton counties remain to be counted. If the margin stays under 0 5 percent Gilligan earns a state funded recount beginning December 9 and to be completed within a week.
Clear skies and mid to upper 40s highs with a cooler period shaping the Thanksgiving to Saturday outlook. Lows tonight in the mid-20s, light rain or snow possible Wednesday, highs in the upper 30s to low 40s, and mid-40s with 30s overnight through Thanksgiving weekend.
DETROIT AP report shows a 34.7 percent drop for the Nov 11 20 period amid plant shutdowns and layoffs. Total 1974 year sales down 23 percent to 6,841,226 with GM down 27 Ford 16 Chrysler 20 and AMC 11.
Secretary of State Henry Kissinger toured the Forbidden City and met Chinese leaders in Peking. He pressed for progress in U S China relations with Vice Premier Teng Hsiao ping while noting Premier Chou En-lai remains bright and alert amid health concerns. The visit follows a Ford Brezhnev summit in Vladivostok and marks Kissinger’s seventh Peking trip.
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