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Newspaper
Syracuse Herald Journal
Location
Syracuse, New York, United States of America
Date
Jun 06, 1975
Page
1
Americans are beginning to spend again after a year of caution due to high prices and economic uncertainty. Retail activity and car sales show modest gains while equipment spending rises. Fed indexes offer cautious optimism. Auto loans fell by 265 million in April following a 353 million drop in March, indicating mixed debt trends.
State leaders were held over in Albany delaying passage of the Big Mac plan to bail out New York City and other troubled metropolitan areas. Lawmakers sought to create a Municipal Assistance Corp to back NYC bonds but faced resistance from the banking community demanding stronger bond backing.
Assemblyman Brian Sharoff led a bid to overturn the Court of Appeals ruling that ended fractional property assessments. He argues full value would force a statewide reassessment costing about 50 million dollars and shift taxes from commercial to residential property, raising homeowners' bills in several counties. The bill would repeal the 1788 law requiring full-value assessments and set rates by the Board of Equalization.
Initial tallies from 68 regions show strong support for Britain staying in the European Common Market. Antimarket leader Christopher Frere-Smith concedes a possible vote but warns a yes is not final as parliaments could reverse the result.
The National Weather Service at Hancock Field expects continued showers tomorrow with cloudy skies. A 60 percent chance of precipitation is noted with possible thunderstorms and a low tonight near the teens, high tomorrow in the mid forties, and westerly winds up to 12 mph.
The Senate approved by voice vote an amendment allowing women to enter West Point Annapolis and the Air Force Academy and aligns with the House provision. The measure, part of a $30.3 billion weapons bill, aims to let women receive training comparable to men while noting existing roles for Army nurses. The compromise preserves flexibility for future changes and sets July 1976 as the start for affected classes.
New York based bank, the nation s second largest, lowered its prime lending rate from 7 percent to 6 1/2 percent, effective Monday. First National City Bank said the move follows its rate formula tied to short term money rates, with prime affecting major corporate borrowing and potentially consumer rates.
A helicopter reportedly plucked two inmates from Southern Michigan Prison in Jackson this morning. State police said the craft landed in the yard and the prisoners boarded before it fled toward Munith. Officials could not confirm who piloted or seized the helicopter and whether a hijacking occurred.
The winning number in this week s regular New York State lottery is 2 231 268. The winning tag pot number is 2888788 and the result was announced in Albany New York by AP reporters.
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