September 29, 1976

NYS Budget Div says that if welfare costs continue to increase at current rate, there would be $120- to $175-million overrun in state's welfare budget for fiscal '77; Gov Carey, calling projection 'very profound and disturbing reflection' of state and natl econ, directs Soc Services Comr Philip Toia to work with state's county execs to develop legis proposals to counteract rising welfare costs (M)

dollar sinks to lowest rate in 14 mos on Eur money mkt; closing prices noted (S)

With more votes then cheers, Muham mad Ali retained the world heavyweight championship last night with a contreversial but unanimous 15‐round victory over Ken Norton at Yankee Stadium before 30,298 spectators who created a gate of about $2.4 million.

Sen James L Buckley has spent nearly 60% of $1.2-million he has raised as of Aug on fund-raising, including over $600,000 on mail appeals; has recd half of money from outside NYS; other major Buckley campaign expenses detailed; Moynihan fund-raising and campaign expenses discussed; Buckley illus campaigning in Bklyn (M)

Cong passes fiscal '77 foreign aid appropriations bill which includes $700-million in econ aid to Egypt (S)