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Newspaper
News
Location
Frederick, Maryland, United States of America
Date
Jul 27, 1974
Page
2
GM reports a 73 percent drop in profits as oil costs and inflation bite. Second quarter earnings reach 1.05 a share, with six months at 1.46, down from a 5.62 record in 1973. Sales dip 14 percent from 1973 levels.
Washington officials say the United States and East Germany will establish diplomatic relations early next week with formal signing in Washington. A U S ambassador to East Germany is expected to be nominated, with John Sherman Cooper as the leading candidate. Negotiations have focused on U S claims against East Germany.
Navajo veterans at the Marine Memorial near Washington denounce inequities in veteran benefits and employment. They cite high unemployment on reservations and recall Navajo code talkers like Issac and Ira Hayes as crucial in World War II. The gathering honors past service while pressing for U S recognition.
New York AP reports three major oil companies posted sharply higher second quarter profits, more than doubling from a year earlier. Atlante Richfield Co led with after tax earnings up about 150 percent to 139.7 million dollars or 247 dollars a share, on sales of 1.8 billion, compared with 68.4 million and 1.1 billion last year.
Greek and Turkish foreign ministers meet privately in Geneva to discuss a Turkish plan for Cyprus as U.N. Security Council weighs Cyprus ceasefire violations. Britain and the United States press for progress while fighting reports and prisoner counts rise from northern Cyprus.
A Vermont Superior Court jury in Rutland declared the 1971 will of Pearl S Buck invalid after 90 minutes of deliberation. The verdict favored Buck's adopted children over her confidante and business manager Theodore F Harris who was named in the will.
The Liberty Bell relocation plans aim to manage Independence Hall crowds for the 200th birthday celebration. Park officials expect up to six million visitors, with a new viewing site in the first block of the mall across Chestnut Street from Independence Hall.
The United States closed the first half of the year with a 1.6 billion dollar trade deficit, according to Commerce Department figures. Export revenue from farm crops and imports from abroad helped shape the balance as the quarter ended. An embargo impact cited in the report influenced the figures, with a 101 million surplus noted in the first quarter.
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