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Newspaper
News
Location
Frederick, Maryland, United States of America
Date
Oct 05, 1979
Page
9
For the first two months of FY 1980 tobacco tax receipts total 7,530,633, up 10.5 percent from the same period last year. Distilled spirits revenue reaches 2,785,838 and wine 506,665, each up 1 and 2.2 percent respectively. Beer tax declines 9 percent from a year earlier for the second straight month.
A McNaught Syndicate piece criticizes the creation of the Department of Education as another costly Cabinet-level agency. It ridicules the move as politics‑driven and fiscally wasteful while noting the shift from Health, Education and Welfare to Health and Human Services. The column links federal aid to declining schooling and urges stopping further government expansion.
The stock market rose modestly as gold fell sharply to 370 an ounce, with the Dow ending up 4.95 at 490.10 in the best close in two weeks. Oil stocks led gains on the NYSE while the Nasdaq gained 0.91 to 15.42, and inflation data briefly influenced trading. A Utah ruling affected Mountain Fuel's regulatory status, and Apple juice production forecasts highlighted agricultural demand.
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