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This newspaper page contains 4 articles. Subscribers can read the full text of each article.
Newspaper
Press Telegram
Location
Long Beach, California, United States of America
Date
Apr 19, 1971
Page
15
The Treasury Department said Secretary Connally favors a government guarantee for Lockheed’s aircraft project. A Treasury spokesman noted it is increasingly clear many participants expect federal backing, though no final decision has been made.
The article reports Lockheed seeking U.S. government support for a Lockheed-Rolls Royce project and notes Treasury officials caution about Congress involvement. It mentions Connally’s comments and the government’s monitoring role, with unclear funding guarantees and language suggesting negotiations limit.
Large dividends paid by Penn Central during a crisis period are detailed in ICC enforcement evidence. The Bureau of Enforcement notes persistently inadequate working capital 1961 to 1967 and a continuing cash drain through 1987. It cites $29 million in advances and $87 million in dividends amid mounting deficits and dubious real estate earnings, with executives optimistic about earnings despite warning signals. The investigation moves to cross examination of lawyers and other parties as dates for testimony are set.
New York report says Beather Nordaf Railway clerks walked out over alleged wage cuts and a changes to the seniority system. Tickets posted at Kennedy Airport and other hubs reflect the disruption as unions press grievances amid ongoing talks in Washington.
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