August 28, 1975

French Govt plans heavy spending on public works to boost econ; reptdly weighs $5.5-billion of expenditures (S)

Fed jury in Kent State Univ civil trial on Aug 27, 10-2, acquits Gov James A Rhodes, former univ pres Robert I White and 27 Ohio Natl Guardsmen from any responsibility in '70 Kent State shootings after 33 hrs deliberation; plaintiffs score verdict; students killed or injured listed; plaintiff Dean Kahler por (M)

Beame hails choice of NYC as Dem Natl Conv site in face of city's fiscal crisis; Beame aide Neil J Walsh sees choice aiding city in crisis (M)

The primary reason for yesterday's rejection by the New York banks of the role proposed for them in Governor Carey's fiscal plan for New York City appeared to be a requirement that the banks buy $1‐billion worth of Municipal Assistance Corporation bonds a year from now if the public market for such bonds was in disarray.

US BLS statistics show decline of 241,000 in jobs in NY-northeastern NJ area between June '74 and June '75, largest annual loss on record for 25 yrs since data has been compiled; NYC job losses amounted to 115,000 for same period, largest yrly drop in city since Nov '71; in 5 NY counties outside city, mfg dropped by 16,000 while nonfactory employment rose by 1,000; nonfactory job gain was offset to considerable degree by losses in construction indus; job losses in northeastern NJ noted; findings are indication of continuing decline in jobs that have been reptd by other Govt agencies and business burs; NYC payroll avg has remained below 3.4-million mark for 1st half of '75; total job loss in city over past 5 yrs is 471,000; jobless rate for area rose sharply from 10% in May to 1 1.3% in June; number of jobless workers in NYC rose by 31,000 to 380,000 in June, increasing unemployment rate from 10.9% to 11.7%; BLS Admr Herbert Bienstock says 31,000 increase in employment for mo is less than seasonally expected rise; job increases in various industries noted (M)