April 22, 1976

article notes Summa execs are extending efforts to determine if Howard R Hughes left will; Los Angeles Supervisors Bd has voted to petition for replacement of Richard C Gano Jr as admr of Huges estate in Los Angeles area by county pub admr Bruce Altman; question that will affect disposition of vast estate concerns whether Hughes was ill, irrational and unable to look after himself or his interests; comment on conflicting repts on Hugues's health, on Hughes's inaccessibility and use of sec as intermediaries between himself and execs; speculation on fate of gambling establishments in Las Vegas, on whether gambling establishments are heavily mortgaged; former Hughes aide put estate value at $1-billion; says Summa Corp could not raise $750-million estate tax out of earnings even if IRS gave it 10 yrs to pay off (L)

A slower rate of inflation and greatly improved corporate profit reports pushed stock prices to their highest level in nearly 39 months. The Dow Jones industrial average climbed 7.56 points to close at 1,011.02 Page 49.

Gov Byrne reptdly pessimistic that NJ Sen will pass graduated state income tax until NJ Sup Ct delineates exactly what it will do to finance pss in event of inaction by Legis, news conf; Legis is under ct mandate to change system of financial aid to pss, and has already enacted a $378-million measure that sets new school standards and contains a new school-aid formula; Sup Ct's outline of steps it will take in event Legis fails to propose plan by June 30 noted (M)

Giovanni Theodoli, pres of Ital Oil Producers Assn and pres of Chevron Oil Italiana, it shot and seriously wounded on Apr 21 in attack that underscores rising level of pol violence in Italy; later, in call to newspaper, extreme left-wing group, terming itself 'Armed Communist Unit,' claims responsibility for shooting; incident is latest among acts of pol violence that are generating soc tensions on top of Italy's econ and pol troubles; acts have increased in recent days with increasing prospect of natl elections in June (M)

8 paintings by Spanish painter Francisco de Goya, including famous naked and clothed 'Majas,' to be displayed at Natl Gallery of Art in early May, loan from Spanish Govt to honor US Bicentennial; Gallery's dir J Carter Brown comments; illus (L)