Energy plan to require sacrifice eyed by Ford admin
Treasury Secretary Simon said President Ford will unveil a tough energy conservation program on January 20 that will require personal sacrifices from Americans. He hinted at tax cuts and help for the unemployed while Greenspan warned recovery will be slow and unemployment may rise this year.
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Gunman hijacks plane at London Heathrow
A gunman seized control of a British Airways flight at Heathrow after landing from Manchester. He held a stewardess hostage in what authorities call an apparent hijack. Passengers had already disembarked, and the hijacker reportedly demanded to go to Paris.
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Steel mills stay busy as auto plant shutdowns bite
In Pittsburgh the nation's steel mills remain productive while auto production stalls. Major steelmakers redirect shipments from Detroit to other big buyers, shielding thousands of auto workers from layoffs as the broader downturn unfolds.
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Pittsburgh
API
Detroit
Republic Steel Corp
Americans ignore gold rush of seventy five auction
Washington reports the UPI account of the government sale of 2 million ounces of gold, where 38 percent sold and most bids came from foreign buyers while Americans offered few high bids. Treasury Secretary William E. Simon praised the effort as a safety valve against inflation and a misreading of gold as an investment. The highest bid reached $185 per ounce by Herff Jones Co., with an individual top bid of $181 by Robert W. Holt. Most bids arrived by mail. some bidders attended in person, including Eugene A. D Onofrio who offered $120 per ounce but was rejected.
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Sohio and BP plan $150 million Alaska pipeline notes
Sohio and British Petroleum announce notes worth 150 million dollars to be sold later this month to finance the trans-Alaska pipeline. Sohio Pipe Line Co and BP Pipelines Inc form a joint finance entity, with 68 percent and 32 percent ownership respectively, and TRE Finance Branch will relend proceeds to the pipeline companies under parent guarantees.
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K Mart to Freeze Prices on 1000+ Grocery Items for 40 Days
K Mart Food Stores will suspend prices on more than 1,000 grocery products for 40 days from Tuesday, covering private labels Camelot Meadowdale and Squire. The stay runs through Feb. 15 across 44 stores in six states including 19 in Ohio with special shelf labels marking frozen items.
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Chocolate candy prices rise again this year in 1975
Washington reports that consumer demand slipping and a larger crop push candy prices up while wholesale cocoa prices ease. The Agriculture Department notes a smaller 1974-75 world coffee crop yet higher than 1973-74, with Brazil boosting cocoa estimates by 5,000 tons to 1,720,000 tons. Retail candy costs are likely to keep rising as pass-throughs from sugar and cocoa costs continue.
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American Iron and Steel Institute
Roche
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Strategies for the Harassed Bill Payer review
George Belden outlines how debt collectors wage a psychological battle and ranks creditor groups by top and poor tactics. He cites banks finance firms credit cards IRS and student loans as highly effective targets, while doctors hospitals and retailers fare worst. Belden faces criticism from Consumers Union for promoting irresponsible debtor behavior.
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Grosset & Dunlap
George Belden
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Market pauses after four day Dow rally
New York stocks eased in profit taking after a four session rise. The Dow Jones average dipped fractionally while declines led advances 8 to 7 on the NYSE as analysts said a pause was due after a 35 point rally since the start of last week.
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New York Stock Exchange
UPI
Ashland Oil to Run Four Refineries Despite Strike Threat
Ashland Kentucky AP—A midnight strike planned by the Oil, Chemical and Atomic Workers Union would not affect operations at Ashland Oil Inc. refineries where OCAW workers are employed. Company spokesman Mac Zachem said all four refineries could run indefinitely with company and non-union personnel, as negotiations for a new contract continue to avert a wider industry stoppage.
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Ashland. Ky
Oil, Chemical & Atomic Workers International Union
Ashland Oil Inc
OCAW
Mac Zachem
Ashland
Zachem
New Cedar Point chief named to run recreation center
Robert Munger Jr., 46, an insurance executive and former Cedar Point director of 15 years, was named chairman and CEO of Cedar Point Inc. He left Johnson and Higgins of Ohio as a senior vice president to accept the post. He succeeds the late Emile Legros who died in January.
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Chronicle-Telegram fragment notes local items unrest
Fragmentary Chronicle-Telegram text references addresses and numbers with unclear context. Jagged lines mention Jam 7 195 No 7 Second Glass Mal and Chevelend 77 52 with scattered figures and prices. Readers should verify the details from the full page.
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Chevelend
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