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Newspaper
Press Telegram
Location
Long Beach, California, United States of America
Date
Jan 28, 1972
Page
3
Two of the nation’s largest banks indicate they will lower their floating base lending rates to 4 percent effective Monday. First National City Bank reduces from 4.5 percent, Irving Trust lowers from 4.34 percent. The conventional prime rate has not been at 4 percent since 1985 and 1955 for earlier levels.
McDonnell Douglas Corp announces a drop in 1971 earnings to 80,914,917 dollars from 92,565,278 while sales slip to 2,069,000,112 from 2,088,179,470. Long Beach division notes 449 firm DC 16 orders with 15 delivered and 92 options, plus 46 DC 9s and 13 DCs in 1971. Government business remains 69 percent of sales with 31 percent from commercial. Firm orders total 3.4 billion as of Dec 31.
A Pacific Northwest storm brings heavy snow to the Sierra and Marin and rain to the valleys. Cooler air may turn rain to snow at lower levels, with Thursday’s conditions triggering road closures, chained tires, and power outages across San Francisco, Marin, Lake, Mendocino and Santa Cruz counties.
A federal judge refused to dismiss draft evasion charges against Martin A. Neptune, a Penobscot Indian from Indian Island, Old Town Maine, ruling he is subject to the U S draft. Neptune argued the territory was never ceded and thus he was not a citizen.
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