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Newspaper
Port Lavaca Wave
Location
Port Lavaca, Texas, United States of America
Date
May 29, 1975
Page
3
The Commerce Department said its leading indicators index rose 4.2 percent in April, the sharpest monthly gain on record, with March up 1 percent, suggesting the recession may be ending. Productivity in nonfinancial firms rose 3.4 percent in Q1, the first gain since 1973.
New York stocks moved mixed as improved economic indicators partly offset concerns over energy policy. Dow Jones average rose 0.15 to 817.59 while NYSE breadth showed 572 decliners to 473 advancers among 1,493 issues. Occidental Petroleum and International Banknote were among active names with mixed moves. Monsanto fell.
A twin engine Lockheed Lodestar carrying at least 800 pounds of marijuana crashed on takeoff near Rockwood Municipal Airport killing two aboard. Authorities found roughly 800 pounds of marijuana, some in bags and wrapped in Mexican newspapers, and debris spread over a half mile. Officials ponder whether the cargo was loaded at the airport, noting empty pasteboard boxes at the runway end. No flight plan existed and the origin destination remain unknown.
Government officials pursue possible organized crime involvement in the U S grain export trade. Agriculture Secretary Earl L Butz says any illegal activity found will be ended and that the inquiry covers all major grain ports with suspected improper activity. The New York Times cites ongoing investigations and indictments of grain inspectors and other licensed personnel amid complaints from nations buying US grain.
Rob Phillips administrator of the Bluebonnet Youth Ranch will speak at the Rotary Club on May 30 1975 about activities at the area youth home. The ranch serves abused and neglected children ages 6 to 16 and operates as a private non profit funded by donations and memorials.
Several adult homemaking classes are planned at Travis Junior High School in the Homemaking Building on Friday June 20 and Monday June 23. Registration information is available through Miss Rebecca Wittliff at the Homemaking Building May 27-29 and June 3-6. Classes are limited. early sign up is advised.
Washington AP reports farmers rapidly finish planting the 1975 corn crop well ahead of normal. By May 25 about 90 percent of intended corn acreage was planted, well above 75 percent last year and above the 79 percent normal. North central states show high completion with Iowa near complete and Illinois, Ohio, Indiana, Kansas, and Nebraska all ahead of 1974 and the norm. Soybeans and spring wheat also progress, with wheat possibly setting a record near 2.1 billion bushels and corn production forecast as high as 6.4 billion depending on growing-season weather.
Heavy rain and thunderstorms sweeping across West and Central Texas caused road damage and crop losses, with tornadoes sighted in several areas. Police reported overturned trailers near Goodnight and a wrecked house trailer near Midland. no injuries. Flood warnings remained in effect as streams rose and forecasts called for continued rain, high temperatures reaching the upper 80s to 90s in parts of the state.
Administrative Law Judge Seymour Wenner urged raising rates for first class to 82 cents and boosting charges for newspapers magazines circulars catalogs and packages while keeping the 10 cent first class rate from March 1974. The Postal Rate Commission will rule in about two months, with nine presidentially appointed governors able to alter or seek reviews. A plan to merge air and first class mail will blur distinctions and cut costs.
Washington AP reports a large share of Basic Educational Opportunity Grants remains unused. Of 535 million dollars allotted for 1974 75, 135 million went unspent. The Education Office notes about 600 000 students received grants this year, with eligibility rules based on a complex income index.
Point Comfort announces square dancing registration for a youth club open to ages 10 and up. Bay Swingers Club sponsors the group. Joe Abbott will call. Ten Monday evening lessons run all summer at 7 p.m. in City Hall with nominal dues. both singles and couples invited.
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