November 6, 1975

Gov Carroll's victory over Gable and Stovall's election as Lt Gov noted (S)

The National Association for the Advancement of Colored People is in grave financial trouble, barely meeting its payrolls, failing to meet increasing legal expenses around the country and unable to satisfy now‐insistent creditors. Some branches are reportedly “barely staving alive.”

Robert W Sarnoff, in surprise move, resigns as chmn and dir of RCA Corp; pres Anthony L Conrad named chief exec officer; speculation about internal battle noted; criticism of co met by Martin B Seretean, largest individual stockholder, recalled; James Magid, who follows RCA stock for Drexel Burnham & Co, says Sarnoff has been preparing for resignation for a long time; Sarnoff por (M)

sources close to investigation rept that Bklyn grand jury on Nov 5 voted indictments of NYS Assembly Speaker Stanley Steingut and his son, NYC Councilman Robert S Steingut, in connection with violations of election laws; probe has centered on information that Steinguts purportedly offered pol apptmt to Bronx businessman in return for $2,500 contribution to Robert's '73 campaign; Speaker Steingut issues statement denying charges against him; illus (M)

illus of Albert with Vice Pres Rockefeller and Egyptian Pres Sadat

backers and opponents of NYS and NJ Equal Rights Amendment agree Nov 5 that it was women, not men, whose negative votes defeated measure; Repr Bella S Abzug that defeat could damage her for US Sen nomination in '76; opponents in both states announce drives to repeal ratification of Fed amendment; Conservative Party exec dir Serphin R Maltese says party will work to rescind; comment by amendment opponents Ross Graham and Operation Wake Up pres Annette Stern and backers State Sen Carol Bellamy, Mark Gasarch and Repr Abzug; proposal carried NYC by 59% but was soundly defeated in major upstate urban centers; many of these same upstate areas elected women candidates to local and county offices in record numbers--3 county legislators in Monroe, 2 in Erie, 2 in Albany County; more than 40 women elected to local offices in NYS; NY Coalition for Equal Rights, chief group backing amendment in NYC, raised only $75,000 of an original $250,000 goal; Sen Warren M Anderson, amendment supporter, says that if Repub conf felt strongly about rescinding NYS approval of Fed amendment he may have to go along; illus of NY Equal Rights Coalition members packing up campaign material at their office (M)

Gov Carey seeks 90-day loan from Fed Reserve Bd to avert 'imminent default' in Dormitory Auth, which, he says, has been shut out of credit mkts because of spreading 'contagion' of NYC fiscal crisis (M)

Gov Byrne says that NYC fiscal problems and Pres Ford's refusal to offer financial help to city are responsible for NJ voters' rejection of $922-million state bond issues (S)

Khondaker 1Vioshtaque Ahmed who became President of Bangladesh in a coup two and a half months ago, has decided to resign, the Government radio said. Page 12.

Prime Min Harold Wilson, citing persistent erosion of GB's econ power, presents new econ program that revokes for at least 5 yrs natl policies that successive Govts have endorsed since end of World War II, news conf; under plan, Govt's soc welfare programs, such as nationalized health care and subsidized housing, will come 2d to aid to indus in scale of natl priorities; Wilson says objective is to transform declining econ into high out-put, high earning econ; program does not repudiate Govt's quasi-socialist orientation; it puts Govt in position to direct indus development and encourages active worker participation in managing cos; Wilson says Govt, indus and labor leaders endorsed program; plan is presented by Wilson, Chancellor of Exchequer Denis Healey and Indus Sec Eric Varley; Wilson says Govt will select 30 key industries to aid over next 5 yrs; says they will be industries 'which are intrinsically likely to be successful' and whose performance is most important to rest of indus; declines to name industries but says that among those already being aided are textiles, machine tools and clothing; high unemployment, at least temporarily, is accepted in program; under program, full employment goal has been jettisoned; new program also includes requiring nationalized industries to operate as profit-making cos; almost every state-owned co has reptd heavy losses in '75, in part because Govt barred them from raising prices; economists Graham Bishop and David Ashby comment (L)

NYC Mayor Abraham D Beame charges Pres Ford's rejection of Fed aid for near-bankrupt city reflects 'bumper-sticker philosophy' that has 'triggered hatred, disunity and confusion' by portraying city as a 'pariah,' luncheon, Natl Press Club, Washington, DC; pleads for Fed loan guarantees as key to city's fiscal salvation; traces city's problems to urban ills, while accepting only partial culpability for fiscal disarray; says impoverishment and humiliation of NYC will not enhance econ or moral fiber of nation; holds 'unimaginable' Ford's refusal to abandon 'the premier city of his nation or punish its people as an object lesson'; says loan guarantee would restore city's credibility in commercial credit mkts at no cost to Fed Govt or taxpayers; says default would reduce Fed tax receipts and substantially hike welfare costs, imperiling payments to pensioners and contractors across the land; disputes Ford's view that more can be done locally to avoid default; lists steps taken by city and state to balance budget

William S. Hart Sr., the Mayor of East Orange, N.J.. was indicted by an Essex County grand jury on charges of having paid a $1,000 bribe to obtain a municipal judgeship for an East Orange lawyer. Page 45.