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Newspaper
Ottawa Herald
Location
Ottawa, Kansas, United States of America
Date
Jun 26, 1975
Page
7
The Commerce Department reports the Composite Index of Leading Indicators up 2.1 percent in May, marking a 5.7 percent three month gain. Economists see it as a solid signal of recovery and a potential turnaround after the recession. Apr revised to 3.0 percent. May move strongest since December 1970. Only ten of twelve indicators were available for the May release.
The United States ends its aid mission in Laos after 20 years and a billion dollar commitment. All remaining U S officials leave the country as Washington doubts further aid approval, amid anti American harassment as the Laotian coalition tightens under Pathet Lao influence. An embassy spokesman said the government failed to distinguish US aid project property from administrative property.
President Ford urged Congress to allow private industry to produce and sell billions of dollars of enriched uranium to nuclear power plants worldwide, ending a government monopoly and boosting global energy output.
Democratic leaders plan to push for an extension of this year antirecession tax cuts, aiming to pair it with broad tax reform. President Ford signaled he would consider extension through the 1976 election if the economy does not rebound, while noting the one year duration may precede further revisions. The discussion underscores possible changes to capital gains treatment and targeted provisions, as the nation weighs an overhaul of tax law amid political debate. The president also faced questions on nuclear policy with Korea and affirmed forces would be used in national interests, and acknowledged Soviet compliance with the SALT treaty amid calls for a possible summer summit in Helsinki. County forecast: partly cloudy with isolated storms, cooler tonight, highs in the mid to upper 80s Friday, winds 10-15 mph.
Federal investigators said it was too early to tell if severe turbulence lightning or another factor caused the Eastern Airlines crash at Kennedy airport Tuesday. NTSB will hold a public hearing in six weeks. the six month probe will examine why the jet came in too low. Of 14 survivors, 10 in critical condition with burns and fractures, including a Baton Rouge man and his two daughters. four others were serious or satisfactory.
Indira Gandhi proclaimed a state of emergency and government forces seized 676 political opponents across nine states in the first 12 hours. Censorship was imposed on news dispatches and publications, with some papers undelivered due to power cuts or confiscation. The roundup matches a 1942 level crackdown on dissent.
Senate approved a compromise housing measure aimed at expanding home mortgage purchase authority by 10 billion for the Government National Mortgage Association. If fully utilized next year it could finance about 300,000 new homes, omitting Ford objectionable subsidy programs from the earlier vetoed bill. Chairman William Proxmire led the measure, signaling a path acceptable to President Ford.
Harold Sader of Atlanta named general manager of Ottawa Skyhook Corp and head of Automatic Merchandising Inc manufacturing division. Skyhook absorbs operations from Oklahoma City firms Sponco and Hydra-Hoist with plans to relocate production to Ottawa. Current Ottawa plant employs about 30, with possible recalls. Jim Hardin named assistant. Sader may move his family to Ottawa.
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