19 Aug 1977
Page 1
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Newspaper
Snyder Daily News
Location
Snyder, Texas, United States of America
Date
Aug 19, 1977
Page
1
The Labor Department reports July CPI up four tenths of 1 percent the smallest gain since December 1976 with food prices rising one tenth. The Commerce Department puts second quarter GNP at 6.1 percent annual rate and corporate profits up 14.3 billion, the largest rise in two years.
The Friday update reports major U.S. banks lifting the prime lending rate from 6.4 to 7 percent. Citibank sparked the move with Marine Midland Bank following closely as the market edged toward the new level, using a formula tied to short term commercial paper to justify the rise.
A strong Indian Ocean quake, reported between Australia and Indonesia, prompted hundreds of workers to flee tall buildings in western Australia. No injuries were reported. The quake measured between 7 and 8.9 on the Richter scale, one of the area’s strongest on record.
Deputy Attorney General Peter F. Flaherty told Agriculture Secretary Bob Bergland in a six page letter that the proposed sugar producer subsidy would violate the Agricultural Act of 1949 making the program illegal.
The SDN Column notes Dawson County tiny lead over Gaines in claiming the first 1977 South Plains cotton bale. A 4:45 p.m. Seminole bale was initially believed first, but a 4:00 p.m. Dawson bale at Key Caprock Gin weighed 645 pounds, winner by hours.
Western Texas College held its first awards event during a faculty dinner highlighted by staff recognition. Dr. Robert L. Clinton praised the college’s growth as retirees J Merrill Kayser and Inez Lowry received silver trays, and Mike Ezzell received a plaque for aiding a strong legislative program. Forty two employees earned five year service pins led by Mavis Brumblelow, with many named colleagues receiving similar honors.
Congressman Bob Krueger of New Braunfels campaigned in Snyder urging price deregulation to boost domestic oil and meat supplies. He warned of rising foreign oil dependence, called for a supply and demand market, and outlined a foreign meat labeling proposal. He opposed Panama Canal military control shifts and said Taft-Hartley 14th would not pass this term. Krueger, announcing a Democratic Senate run, spoke at Scurry County Coliseum with host Roger B. Mize.
Snyder Chamber of Commerce directors approve a sliding scale standard investment dues schedule recommended by Dr. Jim Tulley. They commend the Miss Softball America team for the state title and seek a proclamation of Miss Softball America Week from Mayor John Fagin. The group plans to bid again for the American Junior Rodeo Association National Finals and forms committees to address hosting issues and an industrial forum with regular sessions for local firms.
High Thursday around 92 degrees with a low near 65. At 7 am today a reading of 74 degrees reported with no precipitation. For 1977 year to date total precipitation is 17.14 inches. West Texas from clear to partly cloudy conditions with scattered thunderstorms in the north and extreme southwest. Highs near 90 to 105 in the Big Bend lowlands and lows from 66 to 72, with mountainous areas dipping into the 50s.
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