November 11, 1970

Wholesale drug distributor R Howard arrested, Plainview, LI, on charges of selling thousands of stimulants and depressants to virtually anyone who ordered them, ignoring requirements for prescriptions; law enforcement agents say it is 1st time such action has been taken in this area; Fed agents seize pills valued at nearly $1-million in raid at warehouse

Fed Reserve Bd announces small lending rate cut from 6% to 5-3/4% for 6 of 12 Reserve banks; move termed purely technical in response to sharp decline in other short-term interest rates; Repr Patman regrets that cut was not larger, urging further consideration; Econ Advisers Council repr says cut reflects generally favorable trend of credit situation; bankers largely disappointed that cut was not by full 1/2 point; generally agree that decision will put additional pressure on banks to reduce their lending rate

Rockefeller, reelected, faced with possible prospect of tax rises to meet ever-increasing demands of localities, comments, news conf; holds state has just about taxed itself to limits conducive to keeping and attracting indus and jobs, that local govts are overtaxed, that it is premature to come to any conclusion, that he anticipates sum near $545-million rise in revenues for fiscal '71 that he has predicted

White House press sec Ziegler says Nixon, while in Paris for memorial mass for de Gaulle, hopes to pay brief 'courtesy call' on Pompidou

E M Forster novel Maurice, on homosexual theme, written between '13 and '15 and not published at Forster request, to be pub soon; Forster died earlier this yr; book seen throwing more light on Forster's own homosexuality and on changing Brit attitude toward homosexuality; details; R Fry '11 por of Forster was removed from Forster home after vicar suggested to Forster mother that por made Forster look like homosexual; por illus