July 26, 1972

Nixon Adm announces on July 25 it is exempting 10-million more workers from wage controls; new exemptions established by increasing to $2.75 an hr the wage level below which workers are not subject to Pay Bd's jurisdiction; Cost of Living Council originally set cutoff point at $1.90 an hr; council says that taking into account earlier exemptions, 56% of nation's 58-million nongovt, nonfarm employes will be eligible for pay increases in excess of Pay Bd's 5.5% guideline; exemptions stem from recent Fed Dist Ct ruling that $1.90 was less than Cong intended; IUE, which brought suit, says it will seek figure of $3.80 an hr; Rumsfeld comments on exemption and possible consequences; citing Nixon Adm's anti-inflation goals, urges continued restraint by employers and employes alike

power restored on July 25 in most of blacked-out secs of Bklyn, Queens and Manhattan but some customers in those areas are still without power or have ltd voltage; Con Ed reprs say there are no problems with system except for scattered areas in southern Bklyn and Queens; co repts full power restored on upper Westside of Manhattan but power for larger appliances remains short; chmn Luce holds failures took co by surprise, noting co had operated for several days with zero reserve; PSC repr F S Rivett says investigation into cable failures is under way; indicates intense heat may be factor in failures; Admr Musicus urges separate generating stations for housing developments under construction or in planning stages; Aqueduct Race Track reopens; illus

Dean H S Coleman of Columbia Coll is shot 3 times and seriously wounded on July 25; police are seeking suspended undergrad E McKinney for questioning; Coleman, 1 of the most popular figures on campus, is in good condition at hosp; univ spokesman M Gleason says assailant's identity is unknown but that McKinney saw Coleman about suspension; Grad School of Journalism asst dean C Trump says McKinney argued with another univ official before seeing Coleman; McKinney's grades are not disclosed but police officials say he has had poor marks lately and that there were other repts of friction between him and 1 faculty member; illus of Coleman and scene of shooting

Dem Vice-Pres candidate Sen Eagleton, on July 25, reveals that he was hospitalized 3 times between 1960 and 1966 for 'nervous exhaustion and fatigue' and that he had undergone psychiatric treatment including electric shock therapy for 'depression' on 2 of 3 occasions

SEC proposes on July 25 extensive new regulations aimed at preventing future development of wildly gyrating 'hot issues' mkts in new stocks; will impose on underwriters new responsibilities to assure issuer is telling truth about his co and that enough stock is sold to genuine public investors to create true mkt for stock, in addition to expanding disclosure of co's condition and prospects by stock issuer; brokers will be subject to new responsibility for determining whether purchase of newly issued stock is suitable' investment for given customer; says that further regulatory proposals will be forthcoming; has asked NASD to propose detailed rules for underwriters' conduct and to draft rules relating to conduct of brokers handling what might become 'hot issues'; says proposed rules previously announced and aimed at making all prospectuses more readily under-standable have been adopted in final form