Inflation outlook worsens with unemployment high says CBO
The Congressional Budget Office projects inflation rising to 6.3 to 8.7 percent by end of next year and unemployment near 7.8 to 8.2 percent, amid expected oil price hikes and ending price controls. It notes 570,000 job losses and suggests a possible $15 billion income tax cut to stimulate growth while warning full recovery remains distant.
MENTIONED IN THIS ARTICLE
Washington
Ford Administration
Congressional Budget Office
CBO
Congress
President
Office of Management and Budget
Ford
House
Senate
New galaxy 3C123 seen eight billion light years away
Berkeley astronomers at Lick Observatory photographed galaxy 3C123 with a special system, revealing a giant system containing hundreds of billions of stars. The image extends the visible universe by about three billion light years, offering a view of galaxies as they were when the cosmos was younger.
MENTIONED IN THIS ARTICLE
University of California
Berkeley
Earth
Calif
Lick Observatory
San Jose
Mt. Palomar
Hyron Spinrad
Astrophysical Journal Letters
750 bids mark second U.S. gold bullion sale in 1975
Washington officials report about 750 bids from businessmen bankers and private investors for half a million ounces of U S government gold offered in a 11 hour auction by the General Services Administration. Total value about 83 million dollars with Credit Suisse among bidders for the full amount.
MENTIONED IN THIS ARTICLE
U.S
Credit Suisse of
Zurich
David McDowell
St. Louis
Treasury
Butter and Egg Prices Reported Across Ohio and Midwest
AP reports butter and egg wholesale prices in major Ohio cities with carton and tier pricing, including large cartons around .63 to .65, medium about .55 to .60, and smalls near .55. New York USDA notes steady butter. Midwest price report lists Class 1 large at 46, mediums 39, smalls 31, and nest-run breaking stock 40 with checks 3.
MENTIONED IN THIS ARTICLE
Columbus
Ohio
New York
USDA
Chicago
Midwest
Grain prices at Lorain County closing market
Lorain County Farm Bureau Cooperative Association records grain prices at yesterday's close. Wheat 82.49 per bushel. Shelled corn 2.50 per bushel. Oats 1.50 per bushel. Soybeans 4.70 per bushel. Local kids helped weigh and tally results.
MENTIONED IN THIS ARTICLE
Lorain County Farm Bureau Cooperative Association, Inc
Elyria right on red law faces cautious start
Ten of twelve motorists questioned this morning supported the idea of turning right on red but none had used it yet. Comments cited smoother traffic, but concerns ranged from increased pedestrian flow to more accidents at busy intersections. Local residents debated signs and city light placement as drivers adapt.
MENTIONED IN THIS ARTICLE
Charles Delilis
Elyria Post
Martha Henderson
B. 13Th St
Karen Rothgery
Columbus St
Elyria
Cleveland
Okey Stout
Main St
Grafton
Robert Marlowe
Fourth and East Avenues
Robert Trice
West Ave
Joseph Pronesti
5Th St
Clean up Elyria Starts With Action From Officials
The Chronicle-Telegram reports residents complain about vacant gas stations in Elyria. Edward Huffman, assistant safety service director, promised to investigate after complaints were brought to light. He noted both gas stations at Lodi Street and West Avenue and at Lodi and Chestnut streets comply with zoning rules.
Medina County Dairy Princess Named To Ohio Court
Cindy Walkden of Wellington was selected as Medina County Dairy Princess and named to the Ohio Dairy Princess Court at Fort Hayes Hotel in Columbus. She competed with 42 county princesses, sponsored by the Medina County Dairy Herd Improvement Association, and will be crowned July 10 during Medina County Dairy Day at the Medina County Joint Vocational School. The 1975 Black River High School graduate is an active 4-H member, former homecoming queen, and a varsity cheerleader.
MENTIONED IN THIS ARTICLE
Columbus
Cindy Walkden
Medina County
Ohio
Fort Hayes
Miss Walkden
Maretta Alden
Wilmington
Clinton County
Lawrence Walkden
Smith Road
Wellington
Black River High School
Black River
Ford warns of inflation as recovery takes hold
President Ford told the 65th NAACP convention that the economy shows signs of recovery with 2.2 percent May retail gains, lower inflation, falling interest rates, and rising housing starts. AFL-CIO President Meany criticized the administration's recovery definition as inadequate and urged a unified protest against unemployment levels.
MENTIONED IN THIS ARTICLE
Ford
Washington
National Association For the Advancement of Colored People
Afl-Cio
George Meany
Meany
Wall Street Opens Higher on factory orders rise
The opening Dow Jones industrial average edged up as orders received by manufacturers rose 0.3 percent in May for the third straight monthly increase. Gains slightly exceeded losses on the New York Stock Exchange as market indicators showed broad advance and investors cheered the factory data.
MENTIONED IN THIS ARTICLE
New York
New York Stock Exchange
Ohio bids to land Volkswagen U S assembly plant
Ohio officials press VW to choose the state for a U S assembly plant citing trained auto labor force, strong transportation links near Lake Erie and the Ohio River, a central market within 500 miles of two thirds of the U S population, and an upcoming corporate tax abatement measure. Duerk notes Dusseldorf office coordinating with Wolfsburg as Ohio promotion continues.
MENTIONED IN THIS ARTICLE
Ohio
Lake Erie
Ohio River
U.S
James Duerk
Dusseldorf
West Germany
Volkswagen
Wolfsburg
Gemany
Duerk
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Elyin, O
Tuas
Caleb
Medina Dairy Princess
Mid-Ohio Securities Corp
National Association of Securities Dealers Inc
Cecseses Azeoreoccesonees
Wiewbers Och van Sais
Shewe Si
Syria
Sewall
Colorain
Cleve
Oberlin
J.C. Insurance Ban Bonding Agency
Middie Arve
Regen
America
Northeast Ohio
Northwest Ohio
Central Ohio
THE
Savings. Bank Co
Cnmide
Bil Roidos
Wall Street
Phillip Morris
Phillips Petroleum
PPG Ind
Procter & Gamble OB
Allegheny CP
Hs Pullman Inc
Allied Chemical
Ralston P
Mun Alcoa Rca
American Airlines
Bet Reich Chem
Mia
Republic Steel
E! Power
Dan Scott
American Home
Sears Roebuck
American Tet & Tel
Shell Oi
Anchor Hock
Ty Sou Pac
Armco Steel
Sperry Rand
Ashland
Atlantic Richfield
Bi Standard Oil
Ind
Babcock Wilcox Standard Oil
Bendix Av
Sterling Drugs
Bethlehem Steel
Stodeworth
Bute Boein
Texaco
Chesapeake & Ohio
Chrysler Co
Paty
Columbia Gas I + Hs
Aire
Steel
Westinghouse
Weverhauser
Cooper
Whirlpool Corp
Woolworth
CrwoZell Xerox
W's
Curtiss Wright
American Machine & Foundry
duPont Rha
Eaton
Bendix
Firestone
CPC International, Inc
Ford Motor Allis
Dart
General Dynamics
Emerson General Electric
Fruehauf
General Foods
BOM
Goodrich
CO International Hary
Ma Sybron
Johns-Manville
Tappan
Kais Alum Tam
Toledo Edison Ay Kresge
Union Pacific Corp S
Kroger Co
Victor Comptometer
L.O. Ford
F.W
Lig. Myers
Hy Lyke Yng
Marathon Oil
Marcor Ine- Fils
Mean Corp
Electra
World Mail
Afl National Cash
Kysor Industrial
Resumed
Norfh
Ohio Edison Agm
Azcon Corp
Owen Corning
BAS Penn Central T
Adobe Oil&Gas
Esterline Corp
Pap&d Penney J. G
SunStar Foods
Pepsi Co
Am Garden
Pfizer
UN Am General
Bristo
Brass
Ah Church
Coldwell
General Mills Equitable Savings
Gordon Jewelry
TG Tah Penzail Co
Ltd
Sterndent Corp Do
Trizec Corp
Thal Union Oil Calif
UPI
Ohio Department of Economic and Community Development
the Chronicle-Telegram
Hast. Avenue
Lorain County
Mutuals Bia
Dreyfus Fa
Keystone
Putnam Funds
Cest
Urie
Matennis
Roges
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