January 12, 1972

Gulbenkian, Nubar

US and USSR reptdly remain deadlocked in SALT talks on crucial issue of limiting submarine-based nuclear missiles; Nixon Adm is reptdly so concerned that it is considering asking Cong for larger appropriations to speed development of advanced missile submarine to put pressure on USSR to compromise; late in Dec '71, Soviet negotiators reptdly indicated willingness to grant US ltd numerical superiority in antimissile defenses, if other elements of arms agreement fell into place

A H Treff, 19-yr-old student, reveals that he opened up accts at 6 prominent brokerage cos and telephoned orders for more than $200,000 worth of stock without putting up money for any transactions or appearing in person at any offices to sign papers for accts; contends that his only goal was to show that NYSE rules are not enforced and that some brokerage cos will ignore sound business practices to obtain comm revenues, citing consumer advocate R Nader's efforts as spurring his idea for project; illus; Treff's dealings and transactions, which were personally described to NY Times, detailed; 6 brokerage cos noted; in most cases, it appears that Treff made wise investment decisions because virtually all of his transactions resulted in a profit; Treff picked his stocks by doing his own research; SEC and NYSE probe incident; Merrill Lynch comments; Reynolds Securities pres Gardiner discloses that regis reprs who dealt with Treff have been discharged

Colum, Padraic

AEC reactor licensing div recommends that Consol Edison be permitted to begin testing its Indian Point plant No. 2 at up to 50% of full power; says environmental impact has to be balanced against 'emergency' power situation in NYC area; comments on possible damage to fish in Hudson River; AEC holds public hearing, Crugers, NY, on plant; basic facts on plant listed