June 26, 1974

HR Judiciary Com votes, 22-16, to publish as soon as possible virtually all evidence assembled for its investigation of Pres Nixon's conduct in office; specifically excludes highly classified testimony related to secret bombing of Cambodia and gives to its 2 sr members, com Chmn Repr P W Rodino and Repr E Hutchinson, discretion to delete other, unspecified material before publication; White House applauds action; Reprs W Owens, D Edwards, C E Wiggins comment; evidence to be published is compilation of material bearing on possible Pres misconduct obtained from grand juries, IRS, Sen Watergate com and other Cong panels and ints conducted by impeachment com; bipartisan fight over release of information discussed; Rodino and Repr R McClory comment at news conf; illus of Rodino and Flowers (L)

over last 3 wks Israel has been borrowing $300-million in US through unusual issue of securities guaranteed by US Govt; NYC, ILGWU, and number of ins cos are among 72 insts that have subscribed to issue to date; issue is being placed privately through Wall St investment banking firm of Loeb, Rhoades & Co and is being sold in denominations of $500,000; new securities are to raise money for mil procurement; US Govt guarantee is believed to be 1st for offering made by foreign country, although Israel has received short-term Govt-guaranteed loans from US commercial banks; Israeli officials say country decided to go to Loeb, Rhoades to avoid paying higher lending rates charged by commercial banks; sources say that commercial banks balked at extending $300-million to Israel because many are currently courting business from Arab countries; Israel is eligible for guarantees under both Foreign Mil Sales Act and Defense Appropriation Act; US Cong budgeted $300-million for mil credits to Israel; Pentagon asked Israel to raise money by selling securities; new notes come due in '94; are sold at 9.75% yield; ILGWU general sec-treas Sol C Chaikin and Loeb, Rhoades partner Dudley F Cates comment (M)

IRS drops its income tax fraud case against C Arnholt Smith; says it is deferring to other elements of Smith criminal investigation, including SEC, FDIC, Currency Controller and Justice Dept; will concentrate on negotiating civil settlement of its $22.8-million assessment for unpaid '69 personal income taxes; history of case recalled; Smith illus (M)

Harvey Ellis, unemployed handyman, is arrested on charges of grand larceny for stealing cast-iron panels of Bogardus Bldg, NYC, which had been disassembled and stored in Lower Manhattan lot for preservation; police expect to take 2 other men into custody also; Ellis told police he had picked up pieces, mistaking them for junk; theft of 20 to 30 panels had taken place over several wks and police found 22 broken pieces in a Bronx junkyard; Ellis says panels had been removed from lot in condition in which they were found; there is no explanation as to why panels were broken; theft became public when Mrs Beverly Moss Spatt, chmn of NYC Landmarks Preservation Comm, announced June 25 that 'someone has stolen 1 of my buildings'; illus of bldg before its facade was disassembled (L)

The United States balance of trade was swung into a near‐record deficit in May by a decline, which may be temporary, in agricultural exports and a continued rise in imports. Details on Page 59.