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Newspaper
Pecos Enterprise
Location
Pecos, Texas, United States of America
Date
Jan 20, 1975
Page
5
Moderate Protestants in Belfast voice cautious optimism as British officials hold talks with IRA representatives to restore the cease-fire, while hardline groups vow to destroy the IRA and its Catholic supporters. The report surveys political mood as negotiations begin amid sectarian tensions nationwide.
New York Chemical Bank raised to 9.44 percent prime lending rate effective today after its acquisition of Security National Bank, becoming the nation’s sixth largest commercial bank. First National Bank of Chicago said its prime would drop to 9.44 percent starting Tuesday. The prime rate guides large borrower loan costs and signals longer term rate trends.
Security National Bank of Long Island, the 53rd largest in the nation, has been sold to another New York bank amid reports of probable failure. The Hempstead based bank cited a loss of investor confidence tied to the general economic decline and the Franklin National collapse as triggering withdrawals and impaired borrowings.
A Social Security Advisory Council panel urged using general revenues to bolster retirement benefits and Medicare rather than raising Social Security taxes. The 13 member group led by W. Allen Wallis said funds should shift to Medicare, leaving payroll tax levels unchanged for most workers. The panel noted self employed taxes could rise and emphasized that its advice is influential but not mandatory.
The Joint Economic Committee will open hearings Thursday on President Ford's economic proposals with economists Ackley McCracken and Schultze testifying. Bills to enact Ford's policy must originate in the House Ways and Means Committee. The Senate must decide the New Hampshire Senate seat contest between Louis Wyman and John Durkin by January 27 at the earliest. House Democrats plan to finish reorganizing on Thursday as four chairmanship contests are settled.
The Permian Basin Regional Planning Commission will hold its semi annual general membership meeting in Seminole Thursday at the Community Center after a noon luncheon. NASA backed EMS study findings will be presented by Earl Cravens from the PERPC office with Dr. on hand.
NAHB president Lewis Cenker told the Dallas convention that enough mortgage money is returning to savings and loan institutions to lift the housing market by mid spring. He warned consumer confidence must improve and noted housing and autos signal overall economy health. Other meeting items include EMS planning in the Permian Basin and Big Spring street projects.
During the Car Clearance Carnival at the Dodge Boys a weekly Dodge of the Week will award a chosen model such as Monaco or Dart with a $200 prize plus a $100 trade-in bonus, totaling $300. Sweepstakes also offer a year of free Dodge use, with details available in-store.
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