Johnson signs bill to curb spiraling interest rates
President Johnson warned of rising rates harming the economy and signed legislation to halt the surge, aiming to temper the credit market and ease financial pressure nationwide.
21 Sep 1966
Page 1
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Newspaper
New Castle News
Location
New Castle, Pennsylvania, United States of America
Date
Sep 21, 1966
Page
1
President Johnson warned of rising rates harming the economy and signed legislation to halt the surge, aiming to temper the credit market and ease financial pressure nationwide.
The city Redevelopment Authority is authorized to spend up to 243000 from local funds to start land acquisition relocation and clearance for the Lower Neshanock Creek urban renewal project. Washington may later reimburse as federal funds are approved.
Notre Dame quarterback Terry Hanratty is highlighted in a feature on page 36 of Inside Today's News, focusing on his leadership and impact on the Fighting Irish during his tenure.
Ford Motor Co announced price increases averaging 25 dollars per car with additional rises for options and safety features, totaling 52 to 347 dollars per model. The move, defying President Johnson's appeal for restraint, cites higher labor and material costs and weaker 1966 profits.
The House shifts from foreign aid to a $4.1 billion domestic public works bill including $500,000 for planning the Lake Erie to Ohio River Canal proposed by Rep. Michael J. Kirwan. Opponents led by Rep. Frank M. Clark plan to block canal funding with parliamentary steps and an amendment.
Pentagon lowers mental and physical standards for draft to Oct 1 raising eligible volunteers by 20,000 annually. Additional steps in 1967 to qualify another 20,000 in 1-Y deferral category. McNamara links move to war on poverty and education tools. President Johnson also announces George Ball resigns, Nicholas Katzenbach to succeed him as Undersecretary of State.
U S Marines and North Vietnamese troops fought a bloody battle over An Dinh at the southern end of the tunnel and trench filled village, a key infiltration point into the south. Air power including B52s supported ground troops as losses mounted on both sides and pilots faced Mig challenges.
The 622 pound US surveyor 2 robot lost steering during a midcourse thrust, spun out of control and faced a likely hard landing on the moon. Caltech Jet Propulsion Laboratory officials cited a failed vernier engine ignition during a 9.8 second thrust phase.
John K. Tabor Republican candidate for state Secretary of Internal Affairs will speak at a Lawrence County GOP picnic in Cascade Park. The free dinner begins at 6 p.m. in the park pavilion. Tabor is state Secretary of Commerce since 1963 and has led tourist and industrial development efforts plus Yale and Cambridge and Harvard law degrees. Arnold Satz expects more than 600 attendees.
Western Pennsylvania remains cloudy with scattered rain and drizzle and mild temperature shifts today. Highs in the 60s with tonight's lows 33 to 60 and a 24hour precipitation total of .44 inches, compared with 90 and 65 last year.
Police report two new leads with no new clues in the Valerie Percy killing as investigators interview hundreds of associates. FBI involvement is under way to check acquaintances linked to the slain 21 year old daughter of Sen. Charles Percy while Daley's force works with Chicago and Cook County police.
Mrs. Sarah A. Houston aged 84 of 120 E Grant Street and Mrs. Mary Rossi aged 94 of Ellwood City are listed in the notices.
The United Fund Industrial Division kicks off with a breakfast meeting led by James S Lewis of Crane Co to raise 143012 toward a 311562 goal. The plan uses labor management teams, payroll giving, and a fair share formula across 60 firms with 18 participating agencies and top labor leaders as advisors.
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