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Newspaper
Port Lavaca Wave
Location
Port Lavaca, Texas, United States of America
Date
Jan 02, 1975
Page
4
In Phuoc Binh 75 miles north of Saigon fighting rages as North Vietnamese infantry and tanks press toward the provincial capital, the South Vietnamese government’s last hold in Phuoc Long province. Hard street fighting reported amid the near-border assault.
President Ford returns to Washington from a Colorado ski trip with decisions pending on the economy and energy. On New Year’s Day he signed a privacy act and named James T. Lynn to head the OMB, while staying silent on CIA spying concerns. He will fly from Grand Junction to Washington aboard Air Force One.
Selective Service Director Byron V. Pepitone says there is no broad failure to register but noting significant tardiness among young men who were required to register around their 18th birthday.
In Washington, AP reports that for the four Watergate cover-up defendants jurors debated acquittal before changing votes during hours of deliberation. A juror said most jurors were not in complete agreement at first and had reservations about all defendants.
The Agriculture Department reports the U S farm count fell just 11 000 last year the smallest decline in about four decades with 2 819 000 farms as of Jan 1 1975 down from 2 830 000 a year earlier Texas led with 209 000 farms while New York rose by 1 000 to 58 000 farms Illinois Missouri Kentucky and Tennessee each show similar small shifts in farm totals amid a 1 086 375 000 acre total land in farms figure and modest gains in some regions.
Economic Week notes First National City Bank and others avoid retailing gold and prefer observing the market. It argues gold has not consistently hedged inflation, rising since 1968 alongside other commodities, while cash and government securities outperform in political or economic collapse scenarios.
A survey of real estate firms across the West shows more young buyers considering moving out and starting self-sufficient farms, despite high costs and limited farming experience. Experts note a shift from recreation land to prospective farming at dwindling Colorado farms, as production costs push toward specialty goods.
On January 2 1492 Grenada was captured from the Moors and Georgia ratified the U S Constitution in 1788. Other notes include 1766 Stamp Act riots in Savannah 1900 Open Door Policy announced in China and 1943 Allied victory in New Guinea. Opera singer Renata Tebaldi turns 53. John Quincy Adams warns posterity to value freedom.
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