January 17, 1973

E J Logue, pres of NYS Urban Development Corp, on Jan 16 announces that corp plans to proceed with its controversial plans to build low-income housing in 9 Westchester County towns; 4-mo moratorium on project expired Jan 15; Logue says he will hold further discussions with all towns in hopes of starting construction on some projects this spring; G Oettinger, Supervisor of New Castle, says his town is ready to fight corp in ct if it attempts to build in New Castle; Logue says that despite Fed housing freeze on subsidies, 9 projects would be still be 'marketable' as middle-income housing at rents of about $55 per room; por of Logue

 

Sen Dem Policy Com tentatively approves resolution on Jan 16, limiting Nixon Adm's use of exec privilege, that would require any White House aide or Cabinet member to 'appear and answer all questions' unless Sen com formally consented to written plea from Pres to excuse official from testifying; under doctrine of exec privilege, White House staff members and, in some instances, officials of Cabinet rank have been shielded from Cong interrogation on ground that their confidential communications with Pres are 'privileged' because disclosure would impair orderly functioning of Govt; under resolution, Adm official who did not wish to testify and cited doctrine of exec privilege would still have to appear before Sen com, barring Pres explanation for his refusal to answer questions

US Embassy in Moscow repts on Jan 16 that US exports to USSR rose from $134-million in 1st 11 mos of '71 to $449-million in similar period of '72; says Soviet exports to US rose only from $54-million to $83-million, indicating severe imbalance of trade likely in yrs ahead unless USSR completes arrangements for large-scale sale of natural gas and other raw materials to US; econ specialists say that Soviet-Amer trade has been financed primarily by private credits; note Govt-backed credits will be needed if current rate of growth in Amer exports is to be maintained; Soviet officials are said to be pleased by prospect for major expansion in Soviet-Amer trade and chance to tap Amer tech but show uneasiness about prospective imbalance in trade; Soviet-Amer trade relations specialist E C Shershnev says it is impossible for USSR systematically to finance its purchases from US with hard currency earnings from exports to other countries, article in latest monthly issue of USA; holds one solution would be for US to remove restrictions on mutual trade, alluding to Soviet demands for equal tariff treatment in US mkt as well as large-scale credits from Export-Import Bank; says both sides should take measures for formation of balanced, mutually profitable and most efficient trade structure; sees greatest prospects in use of various forms of productive cooperation, or joint ventures

Gov Rockefeller presents his 15th annual budget message to NYS Legis on Jan 16