Nixon freezes wages and prices sparks market rally
Wall Street surged as President Nixon announced new economic measures. The Dow Jones average rose about 3 points to 898.95, its biggest daily gain since May 27, 1997, with volume on the Big Board reaching 14.6 million shares at noon. Blue chip issues, including Chrysler and Ford, posted sizable gains while gold stocks fell.
MENTIONED IN THIS ARTICLE
New York
Nixon
General Motors
Bradbury K. Thurlow
Stock Exchange
Richard Gusick
Treves Co
Wall Street
Chrysler
Ford
Steal
du Pont
American Stock Exchange
Crew of hijacked yacht tells of pleading for life
The Kama nI crew led by skipper Robert Waschkeit recounts being forced to jump into the sea with no life jackets after captors boarded in Honolulu. They were later placed on a life raft and rescued by the Benadir and brought to Yokohama aboard the Italian freighter.
MENTIONED IN THIS ARTICLE
Yor GU Adla
Japan
UPI
Kamaki
Robert Waschkeit
Capetuin
Larry Doheny
Los Angeles
Waschkeit
The
Kama
Yokohama
Benadir
Wasrhkeil
Huntington Beach
Calif
Kamualii
Frank Power
Newport Beach
John Freitas
Honolulu
South Pacific
U.S
Ira Wolf
Waschkelt
Power
Freitas
Marshmallows From Ancient Egypt to Modern Factory
A reader question explains marshmallow production from Kraft Foods sources and the Marshmallow Research Foundation. Process details include sugar and corn syrup batter, gelatin, molding starch, air bubbles, drying, skin formation, aging, and coating with sugar and starch before packaging. The note recalls ancient origins using the marshmallow root for a confection.
MENTIONED IN THIS ARTICLE
Egypt
Long Beach Reacts to Nixon Economic Edict and Strike
Long Beach business leaders and officials react cautiously to President Nixon’s new economic sanctions including price and rental freezes and a 10 percent import surcharge. Local importers warn of impact amid a longshoremen’s 24 Port West Coast cargo strike. dealers eye repeal of the 7 percent federal auto excise tax with mixed hopes. Mayor Wade has yet to review the speech.
MENTIONED IN THIS ARTICLE
Southland
Long Beach
Nixon
Abdul
West Coast
Don Gill
Gill
California
Edwin W. Wade
Crux of Nixon 90 day wage price freeze explained
Readable Q and A on the 90 day wage price freeze effective Sunday. Details cover price ceilings to August 14 1967 levels, scope of the freeze on commodities services and exceptions for raw agricultural products, treatment of announced increases and escalator clauses, wage contract timing, negotiations, enforcement by Office of Emergency Preparedness, and possible extensions or congressional action. It notes voluntary compliance urged and limited penalties including fines up to 5000 dollars and legal action by the attorney general.
MENTIONED IN THIS ARTICLE
Washington
Nixon
White House
Office of Emergency Preparedness
OKT
Congress
Wallace court ruling calls Wallace edict meaningless
In Birmingham, Judge Sam C. Pointer Jr. ruled Gov. George Wallace's attempt to direct Jefferson County schools over desegregation orders was legally meaningless. The governor claimed to aid Nixon against mass busing while the court ordered the transfer of a white pupil between schools. The judge stated the school board must follow court orders, and Wallace’s action amounted to free speech, not authority.
MENTIONED IN THIS ARTICLE
Birmingham
Ala
George C. Wallace
Wallace
Jefferson County
Nixon
Sam C. Pointer Jr
Pointer
Jefferson School
J. Bevis Hall
Davis
Westfield
Hueytown High
Connally denies emergency action devalued dollar
Treasury Secretary John B. Connally said he does not view Nixon's dollar float as a devaluation. He warned most currencies will rise or fall against the dollar as world rates realign, and he predicted negotiations to remove trade barriers on American bonds. The article notes the wider emergency plan including wage and price freezes and tax cuts.
MENTIONED IN THIS ARTICLE
Washington
Sec
Retary of the Treasury
John B. Connally
Nixon
Connally
Wixon
UPL
Treasury
Inflation brake urged by solons in Nixon plan
Representative Wilbur Mills of Arkansas, a leading figure on tax and economic policy, gave general approval to President Nixon's sweeping new economic program, saying the plan could help curb inflation. The statement came as lawmakers weighed the proposed measures and their impact on the economy and federal spending.
MENTIONED IN THIS ARTICLE
Washington
Mills
Capitol Hill
Nixon
Waterloo Hit by 3rd Night of Race Riots
Police warned motorists to take caution in Sullivan Park area as Waterloo Iowa faced a third consecutive night of racial disturbances on the citys east side. A fire at a heating supply firm was controlled by firefighters with heavy police protection, and tear gas dispersed a 70 to 100 strong crowd. Seven juveniles were arrested for defying orders to disperse.
MENTIONED IN THIS ARTICLE
Waterloo
Iowa
Sullivan Park
Centrol
Rovk
Weather Tonight and Tuesday Area Forecast
LB area Tonight night ant shorning low clouds otherwise sunny low 68. MW highs 74 to 85 with some afternoon evening showers from San Bernardino Mountains southward. DESERTS Mostly sunny with scattered afternoon and evening showers mainly in eastern areas highs 95 to 108.
MENTIONED IN THIS ARTICLE
Mwighan
San Bernardino Mountains
Aroas
Wigtis
Also Mentioned on This Page
Dow
Hoppin, Watson & Co
Downey Shopping Center
Jeane Dixon
Robeson
Vadia
Vital Slattalies
Enel Wilson
Tor Taner
Bill Tomet
Epi
Mill
Hubert FH. Humphrey
D-Minn
the Business World
This is just the beginning! Our collection holds over 300 years of history, including rare newspapers, obituaries, marriage records, birth records, and so much more—most of which you won’t find anywhere else!