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Newspaper
Press Telegram
Location
Long Beach, California, United States of America
Date
Aug 29, 1966
Page
6
New York markets fell sharply as heavy selling dominated trading. At session close the UPI Indicator marked a loss of 28.49 points on 1,454 issues, with more than 1,200 stocks declining and only a fraction advancing. The NYSE average share price slipped about 0.88 points.
Money lenders in New York warn of tight credit markets as liquidity strains curb financing for firms. Banks limit loan approvals and capital costs rise, squeezing corporate access to cash while investors reassess risk in a cautious market environment.
The report covers Dow Jones closing figures and stock indices with varied values and dates. It notes a pending national plan on space communications involving COMSAT and Dr Joseph, pending congressional approval, plus UPI style stock index data from Standard & Poor's.
Comsat urges all users to aid an expansion of educational television as part of a broad refleement. The article notes high interest rates, the surge of short term commercial paper, and Comsat's plans to transmit and resensate via satellite links with AT&T.
A nonprofit satellite system to aid educational television was announced by Mel George Bundy president, drawing wide reactions. The Ford plan would rely on economic support from TV chains and major users of satellite service including telephone and telegraph companies and networks.
An extensive proposal outlines a mixed use plan for a central Brazilian site, including a federally funded sale with a 4 percent saving share, educational facilities, and a private body to manage a 177 feet long radome and a 94 foot high tower. The plan covers satellite access, technical support, and nationwide transmission services coordinated with COMSAT and AT&T.
Grain Market long range needs of educa tonal television and was established last fall with the underst mood. Austria and Hungarian refugees Sen Warren & Macuaron fled across the Iron Curtain pre dawn. They landed at a deserted airstrip near here, claiming Carnegia funds for education and a 150 mile maintenance payoff. The episode unfolds amid a broader note on education and policy.
The U S Food and Drug Administration announces new guidelines under the 1962 McFadden Harris drug amendments. Physicians must obtain written consent from patients or their representatives before using investigational drugs, except when infeasible or against the patient’s best interests, and provide full information on purpose risks and alternatives.
A three alarm fire in a three story Angeles hotel on South Sixth Street forced evacuations. Police said more than a dozen city firefighters battled the blaze as residents fled the structure in the early hours.
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