March 5, 1975

Dem and Repub legislators in Albany say banks might be ready to announce long-term commitment to invest in UDC through newly created Project Finance Agency (S)

NY Times survey indicates that unemployment in major cities of Middle West is rising as result of recession in auto indus but that it is still below natl avg because of region's gen lack of dependence on auto mfg (L)

NY Daily News on Mar 4 announces it will suspend publication on March 5 and begin laying off more than 1/2 its 5,000 employes as drivers and deliverers continue wildcat strike that has halted paper's operations for last 3 days; NYS Sup Ct Justice Hyman Korn finds Deliverers Union guilty of contempt of ct and fines union $100,000; deliverers' unit chmn Carmine Batista repts News officials refused to meet with union leaders; union pres Carl Levy says union does not have funds to pay fine; Korn says evidence fails to sustain allegation of News that Levy was personnally guilty of contempt; News pres W H James says dept heads are sending furlough notices to more than 2,500 employes who have no necessary work to perform while strike continues; News controller Robert C Schneider testifies that paper suffered net loss of $241,000 on Mar 3; says net loss on Mar 4 was $264,000; Korn is critical of failure to use arbitration machinery to resolve dispute; text of News's furlough notice to employes (M)

1.4% drop in NYC's Mkt Basket is attributed in part to declining demand for bumper crops (S)

Peter Lorenz, kidnapped West Berlin politician, was released after the West German Government freed five imprisoned radicals. Page 12.

former movie star Charles Chaplin is knighted by Queen Elizabeth II at Buckingham Palace; ceremony is attended by wife Oona O'Neill and 2 children; Chaplin says he would rather be known as 'Sir Charles' than 'Sir Charlie'; illus (S)

Pres Ford says he will postpone for 60 days 2 final stages of his oil import tax to encourage Cong to move faster on cutting income tax; says income tax-cut bill can be on his desk by end of Mar; Ford does not explain how oil import levy could delay tax cut; some members of Cong have complained that both matters must be handled by same coms; Ford illus (S)

Trading on the New York Stock Exchange yesterday reached the second highest level in history—34.14 million shares. Prices closed at their highest point since Aug. 12. The highest volume — 35.16 million shares—was reached Feb. 13. Page 53.

Rhodesian Govt arrests Rev Ndabaningi Sithale, 1 of country's top black leaders, on charges of plotting to assassinate some of his pol opponents in attempt to gain leadership of African Natl Cong; he is scheduled to appear at secret ct hearing before Judge Hector McDonald; no trial date has been announced; as result of arrests, main black pol group breaks off talks with Rhodesian Govt; group says it will not participate in talks until Sithole is released; Robert Mugabe, Zimbabwe African Natl Union militant, predicts that there will be intensification of guerrilla war because of arrest; says he believes arrest was meant to intimidate Zimbabwe Union leadership and African Natl Cong, of which it is now a part, into submission to Prime Min Ian D Smith's politically dishonest const contrivance; says that he, Sithole and other black leaders have been warned by Rhodesian authorities in recent mos to keep silent and not make mil statements; charges Govt authorities asked black leaders to consent to Smith proposal for separately governed black and white areas (M)

US and Iran on Mar 4 announce signing of major econ agreement that commits Iran to spend about $15-billion on US goods and services over next 5 yrs; at joint news conf at State Dept with Iranian Finance Min Hushang Ansary, Sec Kissinger notes that this is largest agreement of this kind that has been signed by any 2 countries; in addition to target figure of $15-billion, Iran agrees in principle to spend about $7-billion more on as many as 8 large nuclear power plants in next decade; Kissinger and Ansary indicate that current level of nonoil trade is running overwhelmingly in US favor and that almost all of $15-billion will be to Amer advantage; Ansary says that in last yr Iran sold $50-million in 'nonoil' goods to US and purchased $700-million in civilian goods and $1.5-billion in mil equipment and services; Kissinger and Ansary also sign technical cooperation agreement in such fields as agr, manpower, science and higher educ and health services (M)

NYC and community leaders on Mar 4 dedicate $20-million, 8 story, glass and aluminum NY Telephone Co bldg in downtown Bklyn; present at dedication are Deputy Mayors James A Cavanagh, Paul Gibson Jr and Stanley M Friedman, Controller Harrison J Goldin, City Planning Comm chmn John E Zuccotti, Housing and Development Admr Roger Starr, Gov Carey repr Menachem Shayovich; Vice Pres Rockefeller send congratulations; phone co gen mgr Robert Manner says bldg will have 770 employes; map (S)

NYS Repub and Dem legislators' failure to create bipartisan list of 3 nominees to fill vacancies on 15-member NYS Regents Bd causes need for joint voting session of Assembly and Sen, a rare proceeding; Repub and Dem nominees listed; conferees say failure of agreement does not stem from ideological differences or even party politics as much as from conflicting pressures on each of them from various civic or ethnic groups supporting 1 candidate or another; nominees will be called before joint session of Educ and Higher Educ Committees of both houses on Mar 10, in event impasse persists through wk of politicking (M)