October 11, 1974

Boston, Mass, Mayor Kevin H White lashes out at Pres Ford for his 'antibusing statement,' saying that Pres had 'fanned flames of resistance' to school integration and possibly contributed to endangerment of Boston schoolchildren, news conf; makes statement as 425 riot-equipped policemen set up stations on South Boston streets to help guard black children being bused into schools in white ethnic community amid intense and occasionally violent opposition; only a few incidents are reptd in city on Oct 10 as additional men from state police and met police join in guarding city from further violence; 2 white girls are rescued by 25-member football squad, both blacks and whites, at Dorchester HS as they were being attacked by group of black teenagers; White says his request for 125 Fed marshals was denied by US Dist Ct, action which he deplored, but says he will not call out National Guard; NAACP official Thomas Atkins calls Ford's statement 'irresponsible' and believes it will lead to more violence; opponents of ct-ordered busing say they are 'encouraged' by statement; White illus; state police illus (L)

Fed campaign finance reform bill is passed by Sen, 60-16, and by HR, 365-24, and sent to White House; Pres Ford expected to sign bill in spite of his opposition to its public financing provisions; bill is seen as outgrowth of Watergate scandal; its must revolutionary reform is seen as provision for public financing of Pres campaigns; measure restricts amt of money contributors can give to Pres, Vice Pres and Cong candidates and amt these candidates can spend in their campaigns; pol experts agree that Dems, who have more trouble raising funds than Repubs do, will be major beneficiaries of bill; provisions of bill go into effect Jan 1 '75; provisions, including contribution and spending limits and enforcement and penalties, outlined (L)

HR Judiciary Com begins broad investigation into Vice Pres-designate N A Rockefeller's possible involvement with derogatory biography of former Sup Ct Justice Arthur J Goldberg when Goldberg was his Dem opponent for NYS Governorship in '70; FBI has indicated in rept to com that Rockefeller, through intermediaries, may have been involved in underwriting book Arthur J Goldberg, the Old and the New by Victor Lasky; Rockefeller says that, unknown to him, his brother Laurance had invested $60,000 in book as business venture; says if he had known, he would have opposed move, statement issued through his press sec Hugh Morrow; Goldberg says he is shocked and feels Rockefeller and his bro owe apology to him, his family and Amer people; says he does not believe Rockefeller's ex-planation; book on Goldberg was published by Arlington House, subsidiary of Starr Broadcasting Group, of which William F Buckley Jr is chmn; it was published as paperback; Buckley spokesman says Buckley was unaware of any involvement by Nelson in publication of book but will investigate; Lasky says he never got $60,000 and does not believe he got any money in royalties; HR Judiciary Com is known to be studying several other large gifts from Rockefeller to NYS officials; com Chmn Repr P W Rodino Jr requests additional information from Rockefeller dating back to '57; another rumored recipient of loan of financial gift from Rockefeller is newspaper columnist Tom Braden; Braden refuses to confirm or deny rumor, telephone int; Prof Schrag says he thinks Ronan's estimated tax returns for '74 might be sought to determine if loan 'forgiveness' by Rockefeller to Ronan was treated by Ronan as gift and not as income; illus of Goldberg and Rockefeller in '70 (L)

 

stock mkt's 2-day rally leaves Wall St jubilant, though bewildered; Robert Stovall (Reynolds Securities) comments; scarcely anyone on Wall St credits Pres Ford's econ program for stock rally; Robert J Farrell (Merrill Lynch) holds rally is related to prospect for lower short-term interest rates; observes that public is returning to mkt, noting that last 10 days saw largest vol of net odd-lot buying since '70 and that insts are also buying; some feel rally was merely technical following an overreaction on Wall St to former Pres Nixon's resignation; mkt was seemingly unaffected by Fed Reserve Chmn Arthur F Burns' assertion that US is in a recession, and by First Natl City Bank economist Leif H Olsen's statement that country has been sliding rapidly into 'deeper and more pervasive' recession in last 6 to 8 weeks (L)