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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
Nov 01, 1971
Page
13
A dense, partially garbled column from a New York stock market report notes transactions with references to figures, financial terms, and unnamed parties. The text mentions committees, a Fed, and an inquiry into Nixon’s Phase 2 plans, with scattered names and dates obscured by OCR errors.
A San Francisco bank reports over 12 billion dollars in federally insured student loans at risk. Spokesmen say 10 to 15 percent may be written off due to college turmoil and lost records during the 1969 campus riots, with about 1.25 million dollars deemed uncollectable.
A garbled OCR like line references a David Heaft and a senior vice president linked to a gold cay product. The text is fragmented with quotation marks and incomplete phrases, making it impossible to extract a coherent news event or clear entities.
The panel discusses credit and mortgage rate trends, noting expected demand for credit and a tendency for rates to rise. Burns argues against binding controls, warning ceilings harm market conditions and could shift funds from mortgages to other investments. He expects voluntary lender cooperation and ties dividend adjustments to wage gains during Phase 2.
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