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Press Telegram in Long Beach, California

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This newspaper page contains 3 articles. Subscribers can read the full text of each article.

Newspaper

Press Telegram

Location

Long Beach, California, United States of America

Date

Mar 18, 1970

Page

3

Bank of America Denies Viet War Profits

Bank of America executives told stockholders the bank does not profit from or support the Vietnam War and refused a call for an immediate withdrawal. Chairman A W Clausen defended the bank, reported strong 1969 results, and condemned campus unrest while condemning attacks on the bank and its Santa Barbara branch.

San Francisco UPI Bank of America Vietnam Los Angeles A R. Appleby University of California Santa Barbara Louis Lundberg Appleby Saigon Lundborg Southeast Asia Red Cross Clausen Joans Mnuch

GI Bill Pay Raised to $175 Per Month

Senator Cranston announced a Senate-House conference compromise raising GI educational benefits for Viet Nam veterans from 130 to 175 a month and setting a 110 monthly cost of living increase for vocational rehabilitation subsistence. The compromise also awards 195 under terms of the bill.

Washington Alan Cranston Calif Senate House Cranston

Marines to be discharged early under Nixon plan

Senate Armed Services heard that as part of Nixon’s 18 percent force cut many Marines will leave up to a year before their terms end. Commandant Chapman warned of unrest but said the move will raise corps quality by reducing reliance on drafts and tightening reenlistment standards. Navy Secretary Chaffee noted deeper trouble in retaining high quality personnel, with pilot retention falling from 60 to about 26 percent and reserve officer retention declining since 1963-64.

Washington Nixon Senate Armed Services Committee Chapman Noonger Navy John H. Chaffee Marine Corps

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