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Newspaper
Syracuse Herald Journal
Location
Syracuse, New York, United States of America
Date
Dec 29, 1972
Page
1
Analysts predict a strong 1973 in the American economy with broad gains across sectors. Industrial production has risen at about 12 percent annually for four months, and durable goods new orders surged again in November, suggesting continued strength.
Retail beef prices eased for the fourth straight month in November while middlemen's markups rose 5.9 cents, keeping overall prices from falling further. The Agriculture Department's market basket showed all beef at 1.12.3 10 per pound, down from October and below July peak, with farm value down 11.9 cents since July and 5.1 percent from a year earlier.
New York stocks closed higher in heavy trading on the last session of 1972 led by industrials. The Dow Jones average stood at 1018.36, up 10.68 as advancers surpassed decliners about 2 to 1. Analysts cited multiple favorable trends including strong job gains and a dip in unemployment to 5.2 percent. Businesses also expanded inventories in anticipation of continued demand.
A former cashier shouted threats and fatally shot his boss during a meeting at the St. Regis Sheraton Hotel. Manuel Irizarry, 0, surrendered hours later with a sawed off shotgun and shells. Police reported the weapon and shell fragments found on him. The incident followed his dismissal and drew in union officials.
A cold snap will ease as snow and rain move in, followed by windy mild conditions tomorrow. The National Weather Service at Hancock Field expects a low in the mid 20s tonight and a high in the 40s with 80 percent precip chances. A 86 minute atmospheric phenomenon and 1.9 inches of snow occurred yesterday, with temperatures staying mild through Monday. Roads may be slippery on New Year’s Eve with rain.
In Bangkok four Black September commandos, who seized the Israeli Embassy, were persuaded by Thai officials to leave the building and fly to Cairo with ten Thai staff and Egypt's ambassador. After a 4800 mile flight they exited smiling and were not handcuffed, while Egypt and Palestine officials weighed the transfer amid praise from Egyptian newspapers and admiration from Golda Meir.
The U S Command reports four more planes down, including another B52, and 12 fliers killed or captured. Total U S losses in two weeks reach 27 aircraft and 93 air men missing or killed. Hanoi claims 76 aircraft down since Dec 18 in the heavy bombing. Porter meets Schumann on Paris talks as Brezhnev delays visit.
Television and radio technicians ended their eight week strike at CBS after narrowly approving a new contract. Picket lines outside CBS facilities in New York and six other cities were dismantled within an hour following the 56 to 50 vote.
The Court of Appeals refused to halt all legal abortions in New York as a Fordham professor seeks to test the liberal abortion law before the U.S. Supreme Court. The court previously dismissed Byrn's challenge, while legislators attempted to restore the former life-saving limit, vetoed by Gov. Nelson A. Rockefeller. The case centers on whether the unborn possess a constitutional right to life, with no further details announced.
A federal court ruled Ohio's parochiaid tax credit law unconstitutional. The measure would have provided parents of parochial students with 90 dollars per student each year in tax relief.
A House Armed Services subcommittee urged against a Senate plan to raise retirement pay for officers and enlisted men, warning it could trigger a tax increase. The panel argued many retirees already earn more in retirement due to cost of living hikes, and one congressman warned the move could dampen chances for any future bill.
Reporter William Crozier surveys a year of news in Central New York for a yearend roundup in the Herald-American. Amtrak’s future, congressional mandates, and public support are noted as it seeks a fresh start. also features a five-woman band in Watertown in Empire Magazine’s New Year’s Eve piece.
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