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This newspaper page contains 12 articles. Subscribers can read the full text of each article.
Newspaper
News
Location
Frederick, Maryland, United States of America
Date
Apr 24, 1974
Page
3
The article reports forecasts of a severe money shortage driven by high capital spending, with hopes for expansion but concerns that credit limits and rising borrowing costs could curb investment. Arthur Burns signals restraint on money demand amid inflation fears and potential market instability.
Roanoke County crash fatally injures Gary M. Gauley 22 pilot for Advance Stores Inc. He was cleared to land at Woodrum Airport in gusty winds when the Beachcraft Baron went down 1,500 yards from the nearest house. FAA official confirms control tower contact minutes before impact.
The IRS agreed to let the Senate Watergate committee review tax returns and other personal files of F Donald Nixon and Charles G Rebozo. The move aims to illuminate a 1969 70 campaign contribution of 100000 from Howard Hughes. The Times cited sources. officials did not confirm.
Khmer Rouge forces attack a government garrison of about 2,500 men at Lungvek north of Phnom Penh. Ammunition runs low and rescue seems unlikely as supplies are dropped by air. About 1,300 men reportedly escaped from a nearby beachhead on the Tonle Sap river.
Photographs from an April 5 bank holdup show Patty Hearst appeared reluctant, with a security camera image suggesting a weapon was strapped to her hand. Analyst Peter Davies wrote to the Hearst family stating she seemed coerced and played a limited role in the robbery.
Police and FBI are investigating Al bert L. Dantzler a Miami bank official amid reports of a possible extortion hoax connected to a weekend kidnapping. A former business associate Larry L. Van Dusseldorp says both suffered a substantial loss last July in a private mail delivery firm venture that failed.
Baltimore AP reports the Maryland State Lottery announces special prizes and weekly drawings this summer. Tickets go on sale June 23 with a $1 price and a July 3 first drawing. A May 2 rain drawing offers 50 000 prizes, a $100 000 game runs through summer, and exact order six digits wins top prize with smaller prizes for partial matches.
In San Francisco a federal court considers stop and search tactics used in Operation Zebra the hunt for killers believed to have slain 12 whites. The NAACP seeks an injunction and the ACLU asks to declare the searches unconstitutional while a black plainclothes unit investigates with emphasis on informants.
Oil firms reduce credit card promotions as they tighten terms and limit promotions to gas purchases. Atlantic Richfield Exxon Shell officials note stricter requirements and fewer automatic renewals while focusing on new card customers amid rising cash and loan hesitancy.
In Zurich the shah of Iran urged Western governments to curb oil company profits amid the energy crisis. He said producers, aside from Saudi Arabia, see room for higher prices and noted Western firms profited up to 1 per barrel after costs, with oil bought at 7 and sold at 12 dollars.
Exxon Texaco Occidental and Skelly Oil posted substantial first quarter earnings gains, with Exxon earning 705 million up 39 percent, Texaco 894 million, Occidental 677 million, and Skelly 19.7 million. The results follow late 1973 energy price surges and forecast increased energy investment.
Consolidated Edison says higher fuel costs and bill collection problems forced an unprecedented quarterly dividend suspension. The 43 cent per share payout ends a 89 year streak, as first quarter earnings fell one third from 1973 to 1974, rattling investors in New York City and Westchester.
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