February 10, 1973

SAN CLEMENTE, Calif.—The Western White House announced that President Nixon is sending Peter G. Peterson, former Secretary of Commerce, to Europe next week on a fact‐finding mission. He is expected to convey the President's concern over the monetary crisis.

Brandt confs by telephone on Feb 9 with Nixon, Heath and Pompidou, asking for their cooperation in continuing monetary crisis; substance of discussions are not disclosed, but Govt spokesman says Brandt is now in constant contact with 3 leaders; foreign exch mkt closes with W Ger's dollar purchases setting new daily record of $2-billion; dollar slips to new low levels against floating Swiss franc in Zurich, while central banks in Belgium, Denmark, Netherlands and Japan have to intervene with new purchases to keep dollar from slipping below its floor parity; Japanese central bank buys $240-million, bringing its total purchases during past wk to $1.2-billion; growing disenchantment is reptd in W Ger banking circles over iron determination of Min Schmidt to hold to mark-dollar relationship no matter how costly it might become; many bankers are reptd to feel that float of mark would be preferable to growing number of controls govt has been putting on currency and capital movements during crisis; W Ger Govt announces it will seek immediate legis raising from 50% to 100% the amt of currency W Ger cos will have to deposit interest-free with Bundesbank when they make foreign loans; illus

Orangetown Public Library evicted from Prel Plaza Shopping Center on Feb 9 by Rockland County, NY, Ct for nonpayment of $8,870 rent; trustees say town should pay bills; town officials have refused, saying trustees were never authorized to sign lease; eviction is latest step in feud between town and library; controversy revd; illus

R B Shorter, acting exec dir of NYC Educ Bd personnel office, testifies at hearing held on Feb 9 by Joint Legis Com on Crime that 374 school employes, including 103 teachers, have been arrested in past 6 1/2 yrs for possession or sale of drugs; Deputy School Chancellor Anker testifies that in majority of cases there was no conviction; another witness at hearing, undercover agent who testified in disguise to protect his identity, describes numerous instances in '70 and '71 where he easily bought heroin in lounge and cafeteria of Bronx Community Coll; other statistics given by Shorter detailed

F Lewis article says solution to latest internatl monetary crisis lies in juggling of basic natl and internatl political issues, news analysis; sees timing of crisis and overburdened internatl role of dollar in trouble as key crisis elements; says varying natl need of EEC countries have hindered unified effort against US attempts to use mil and political strengths to bolster money and trade weakness; says nations continue to pursue domestic interests and jockey for better bargaining position despite agreement to start reform negotiations