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Newspaper
Pecos Enterprise
Location
Pecos, Texas, United States of America
Date
Jan 31, 1975
Page
3
The Australian Wheat Board announced a 157 million dollar sale of 36 million bushels to China, the largest wheat shipment to the country. The deal covers shipments in March and April 1976, following last year’s 150 million dollar export to Peking.
Texas Attorney General John Hill moves to block Southwestern Bell intrastate rate increases as company plans a March 1 start. Bell cites financial needs from delayed local rate boosts and a $29.2 million lawsuit over unfair rate setting. Rates affect direct dial and operator assisted calls with multiple regional changes outlined. Sums show Texas operations costs up 20 percent since 1973, with wage and tax rises highlighted.
About 2.5 million holders of Veterans Administration life insurance will receive their 1975 dividend checks within 45 days as part of a White House move to inject cash into the recession-hit economy. Total dividends are $335.6 million, with $177.8 million to be paid in checks and the rest likely credited to future premiums or to buy additional insurance.
C H Moseley of Dallas was named receiver for American Grain and Cattle Co at a U S Bankruptcy Court hearing before Judge Gordon Thompson in Fargo North Dakota. Five North Dakota farmers filed an involuntary petition claiming about 187000 in debts. The judge ordered a venue change to the northern district of Texas where the firm’s main office is located. A creditors committee in Wichita had sought delay in action on the receiver request amid bankruptcy proceedings.
San Francisco AP reports on the first anniversary of Patricia Hearst’s kidnapping. Randolph Hearst says he believes she is alive in the United States and not likely to receive a jail term if she returns, though the date remains sad. He notes she could face multiple trials while still supporting a personal trust fund.
Leaking gas kept burning as flames rose up to 100 feet from three liquified petroleum gas tanks in Irving, Texas, after a delivery hose separation sparked four blasts. Fire Chief Williams said 71,000 gallons remain and cooling tanks prevents further explosions while residents of about 400 homes were evacuated.
London bullion dealers say Americans and other international players profited greatly during the European gold rush before the U S lifting of the gold ownership ban. At the peak price of 198 dollars an ounce, Americans held vast inventories, potentially up to 138 million ounces worth about 25 billion dollars, with Swiss accounts aiding disclosure gaps.
A forecast states that by the year 2000 about 75 percent of total U S energy and half of electric power will derive from fossil fuel reserves not yet exhausted. The projection emphasizes continued reliance on remaining fossil fuels amid ongoing consumption trends.
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