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Newspaper
Scottsdale Progress
Location
Scottsdale, Arizona, United States of America
Date
Jun 27, 1972
Page
1
The Internal Revenue Service outlines steps for flood and wind storm victims in Scottsdale. Key actions include listing lost or damaged property, photographing damage, adjusting withholding via a new W-4, filing an amended estimated tax, and consulting IRS on loss timing for fiscal years.
Erie Lackawanna Railway Co. filed for bankruptcy reorganization in U S District Court citing Tropical Storm Agnes as the hit that drained cash. Judge Krupansky set a July 10 hearing and ordered operation to continue with trustees to oversee the process. The railroad, with about 3000 miles of track across five states, faces 27 million annual revenue and debt nearing 0.83 billion, worsened by freight-rate disputes and wage costs.
U S warplanes attacked Hanoi within two miles of the target dropping guided bombs on Bach Mai and the airstrip. They struck Haiphong’s thermal power plant and Xuan Mai training area with multiple raids totaling 320 in a day. Navy pilots reported secondary explosions at Xuan Mai and damage to bridges and SAM sites. Radio Hanoi claimed jets were shot down though U S spokesmen did not confirm. A separate shelling killed two sailors on the destroyer Benjamin Stoddert off Vietnam.
In a routine market briefing UPI reports stock market activity as traders react to mixed economic signals. Prices across major indices show modest gains and losses amid fluctuations in industrial shares and financials.
Former Treasury Secretary John Connally arrives in Saigon for a 24 hour visit as part of a 15 nation world tour. He carries a personal Nixon message to Thieu and discusses Nixon’s planned Peking and Moscow trips and progress of the war and U S role with officials.
In London the pound fell sharply as Britain moved to a free float, devaluing the currency by about 3.6 percent. The rate drifted to around 2.505 dollars, signaling a new market regime and mounting volatility.
President Nixon plans a focused re election push with limited public appearances. Advisers say he will stay active at the White House and use cabinet members for campaigning, while Kissinger appeared at a rally critical of Vietnam policy.
Brent Saggan of 4820 E Clearwater Parkway appeared in Scottsdale Justice Court Monday where an aggravated battery charge was reduced to simple assault. Saggan was found guilty of the lesser charge and given six months probation. Last Friday Ron Ingle was bound over to Superior Court on two counts of burglary and aggravated battery with no trial date set. Edward Torren Speirs of 12252 N 62nd St had a $500 peace bond obtained against him by his wife.
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