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Newspaper
Pecos Enterprise
Location
Pecos, Texas, United States of America
Date
Aug 07, 1973
Page
3
The House Banking Committee, led by Rep. Wright Patman, plans to study the U.S. financial structure amid a high prime rate at 9 percent, aiming to draft a stabilization plan as Fed policy and credit conditions tighten. The report notes a year to date rate rise from 6 to 9 percent.
The U S Embassy said a second bombing error by a U S F111 fighter b omber in a government held island southeast of Phnom Penh killed four civilians and wounded 13. The prior Neak Luong strike left 137 dead and 268 injured, marking the worst Indochina war bombing accident.
The White House, Secret Service, and GSA disclose nearly 10 million dollars spent since 1969 on security, communications, and related work at the First Family’s California and Florida residences. A private auditing firm will prepare a full accounting of the Nixon purchases since taking office, due within a month.
Skylab 2 crew led by Alan Bean Owen Garriott and Jack Lousma completed a 6 hour 31 minute EVA outside the orbiting lab. Garriott tested eight solar telescopes while they inspected issues, raised a sunshade, and continued medical experiments aboard the station.
Vice President Spiro T. Agnew disclosed he faces a criminal probe but asserted his innocence. Reports tie the inquiry to Maryland state contracts from 1967 68 and Maryland federal contracts since 1969 with potential kickback allegations involving local figures.
The 9 handicapped Scouts of Troop 11, Sun shine School sponsors, stand out among 1,284 troops at the National Scout Jamboree West in Farragut State Park Idaho. Leslie Larson, 18, Olympic gold and silver medalist for the handicapped, leads the group with notable track wins.
AP reporting economists expect 1974 may see a growth slowdown or gradual recession. Milton Friedman and Albert Sommers foresee milder recessions, while John Kendrick warns a deeper downturn is possible. Inflation, unemployment, and consumer purchasing power are expected to shift as the Fed policy and trade balance influence outcomes.
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