December 11, 1974

EEC foreign mins meeting in Paris on Dec 10 rept move toward resolution of US and French dispute on oil diplomacy; Dutch Foreign Min Max van der Stoel says community agreed on 3 basic points that French Pres Giscard d'Estaing will put to Pres Ford at forthcoming meeting in Martinique: negotiations between consumers and producers, avoidance of confrontation between consumers and producers, and 'certain amt of pre-consultation' among consumers; last point represents French concession to Amer insistence that consumers work out bargaining position before facing producers (M)

FTC on Dec 10 accuses ITT Continental Baking Co of attempting to monopolize wholesale baking business through use of large number of illegal predatory practices; complaint says that Continental's parent co ITT concurs and acquiesces' in 'most or all' of alleged illegal activities (S)

market repts suggesting that Persian Gulf oil-producing countries are no longer willing to take sterling in payment for oil drives pound to historic lows and forces Bank of England to spend estimated $250-million in effort to support currency; Exxon confirms that Arabian Amer Oil co has been informed by Saudi Arabian Govt that it did not desire' any further payment in sterling; about 25% of Aramco's tax and royalty payments have been in sterling; Brit Chancellor Denis Healy is in Saudi Arabia and Prime Min Wilson is in Paris seeking support for cooperation in recycling of oil money to deficit-running nations like GB; want IMF's oil facility expanded to help indus as well as developing countries (M)

Repr W D Mills relinquishes chmnship of HR Ways and Means Com that he has held since '58; decision follows meeting with Repr J D Waggonner in hospital; Waggoner says Mills's physician Dr Michael Boban confirmed to HR Speaker C Albert that Mills is not physically capable of taking over com chmnship; says Mills is not in psychiatric area of hospital and that he did not mention stripper Annabella Battistella during conversation (M)

Milk industry and union officials agreed yesterday to supply milk for hospitals, nursing homes, day‐care centers and schools, reopening three milk processing plants as the metropolitan area milk strike moved into its sixth day. Page 40.