On this day

October 8, 1974

Revisit the music, news, notable people, and historical moments connected to this date.

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Headlines from October 8, 1974

Saks, Bergdorf and Bonwit Accused as Price‐Fixers

By Isadore Barmash

3 leading 5th Av, NYC, specialty stores and 2 of their top execs are accused by Fed grand jury of conspiracy to fix prices of women's clothing and violating Sherman Antitrust Act; indictments were filed against Saks & Co, trading as Saks Fifth Av, Bergdorf Goodman and Genesco Inc, owner of Bonwit Teller; also indicted were Barrie Sommerfield, vp and mdse mgr of Saks, and Leonard Hankin, exec vp of Bergdorf Goodman; civil suit was also filed against the 3 cos, asking permanent injunction prohibiting them from engaging in price-fixing or other antitrust violations; other cos and individuals in women's apparel retailing were named as co-conspirators but were not named in indictment; Justice Dept investigation of alleged price-fixing started in Phila in July, '72, after complaints by some local merchants that they were being discriminated against because of price conspiracy (L)

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1973 OIL SHORTAGE FOUND AVOIDABLE

By Fred Ferretti

special NYS grand jury, impaneled by Atty Gen Lefkowitz in March '74, says that major US oil cos had access to each other's inventories and production goals through Tex RR Comm and knew in advance that fuel shortages would exist last yr, yet did not produce sufficient products for consumers 'even though oil indus had capability to do so; recommends that comm cease its practice of publishing detailed statistical information on co-by-co basis in order to avoid possible misuse of confidential information; urges increased regulation and auditing of oil cos, Govt participation in price and import discussions between oil cos and oil-producing countries, protection for ind dealers against indiscriminate termination of leases and guarantees that oil supplies are made available to ind marketers and others in indus; Lefkowitz sends grand jury rept to Pres Ford, Fed Energy Admr John C Sawhill and Cong leaders (M)

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F. T. C. Chief Calls Role Of Agencies Inflationary

By Robert Metz Special to The New York Times

FTC Chmn Lewis A Engman attacks Fed regulatory agencies, specifically including CAB and ICC, speech at fall conv of Financial Analysts Federation; charges agencies with protecting indus they regulate in an unhealthy relationship that raises costs to consumer and thus contributes to inflation; urges re-examination of 'every regulation or regulatory policy that contributes to inflation' (L)

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Jury Selection May Delay Ford's House Testimony

By Lesley Oelsner Special to The New York Times

former Nixon aide Charles W Colson, now serving 1-to-3-yr prison terms for attempting to obstruct justice in Pentagon papers trial, asks Dist Judge Gerhard A Gesell on Oct 7 to reduce his prison sentence because of Nixon pardon; repeats contention that he was prompted by Nixon to release derogatory material on Ellsberg and his atty Leonard Boudin

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South Boston Crowd Attacks Black as Tensions Rise

By John Kifner Special to The New York Times

South Boston crowd attacks Andrea Jean-Louis, black man from French West Indies, whose car was stuck in traffic jam in Dorchester, and stone buses carrying black students to Roslindale HS on Oct 7, as tensions mount over ct-ordered school desegregation; tensions in South Boston are not only racial but are developing into confrontations with Police Tactical Patrol Force in wake of earlier clash between police and residents at local bar; delegation of black community leaders and parents, in emotional meeting with Mayor Kevin H White on Oct 7, demand Fed protection for schools; White says he is trying to get Fed assistance and has asked to meet with Fed Dist Judge W Arthur Garrity, who ordered busing plan; various antibusing demonstrations, including picketing at Garrity's home on Oct 5, revd; 250 people from various neighborhoods gather at residence of Humberto Cardinal Madeiros to protest his ruling that RC parochial schools will not be haven for students fleeing integration; Mass State Bldg and Trade Council votes unanimously a resolution opposing ct-ordered busing, following march on council by white demonstrators; Andrea Jean-Louis illus; police breaking up antibusing demonstrators illus (L)

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Music on My Birthday

Billboard 200

The Top 50 albums for the chart week of October 2, 1974, covering October 8, 1974.

  1. 1
    Album cover for Endless Summer by The Beach Boys

    Endless Summer

    The Beach Boys

    Last week
    2
    Peak
    1
    Weeks
    12
  2. 2
    Album cover for If You Love Me Let Me Know by Olivia Newton-John

    If You Love Me Let Me Know

    Olivia Newton-John

    Last week
    4
    Peak
    2
    Weeks
    18
  3. 3
    Album cover for Bad Company by Bad Company

    Bad Company

    Bad Company

    Last week
    1
    Peak
    1
    Weeks
    11
  4. 4
    Album cover for Not Fragile by Bachman-Turner Overdrive

    Not Fragile

    Bachman-Turner Overdrive

    Last week
    6
    Peak
    4
    Weeks
    6
  5. 5
    Album cover for Caribou by Elton John

    Caribou

    Elton John

    Last week
    5
    Peak
    1
    Weeks
    14

Notable Births

1974Kevyn Adams, American ice hockey player and coach[†]

Kevyn William Adams is an American former professional ice hockey center and current general manager of the Buffalo Sabres of the National Hockey League. During his career, Adams played for the Toronto Maple Leafs, Columbus Blue Jackets, Florida Panthers, Carolina Hurricanes, Phoenix Coyotes and the Chicago Blackhawks, and was also a former associate coach for the Sabres.

Martin Henderson

1974Martin Henderson, New Zealand actor[†]

Martin Henderson is a New Zealand actor. He is known for his roles on the American medical drama series Off the Map as Dr. Ben Keeton (2011), the medical drama series Grey's Anatomy as Dr. Nathan Riggs (2015–2017), the Netflix romantic drama Virgin River as Jack Sheridan (2019–present), and for his performances as Noah Clay in the horror film The Ring (2002) and Wayne Gilroy in the slasher film X (2022). In his home country, he is known for his teenage role as Stuart Neilson in the soap opera Shortland Street (1992–1995).

Fredrik Modin

1974Fredrik Modin, Swedish ice hockey player[†]

Jan Fredrik "Freddy" Modin is a Swedish former professional ice hockey left winger who played 14 seasons in the National Hockey League (NHL). He is best remembered for his most productive years with the Tampa Bay Lightning, with whom he won the Stanley Cup in 2004.

Koji Murofushi

1974Koji Murofushi, Japanese hammer thrower[†]

Koji Alexander Murofushi is a Japanese former hammer thrower and sports scientist. He has been among the world elite since the 2001 World Championships, where he won the silver medal. He was the 2004 Olympic champion. In 2011, he was crowned world champion.

Historical Events

Franklin National Bank

1974Franklin National Bank collapses due to fraud and mismanagement; at the time it is the largest bank failure in the history of the United States.[†]

Franklin National Bank was a bank based in Franklin Square on Long Island, New York. It was once the United States' 20th largest bank. On October 8, 1974, it collapsed in obscure circumstances involving Michele Sindona, who was a renowned Mafia-banker and member of the irregular freemasonic lodge Propaganda Due. It was at the time the largest bank failure in the history of the country.

Historical Context for October 8, 1974

In 1974, the world population was approximately 3,996,416,096 people[†]