Nikon Says He Preserved Tapes As Protection Against His Aides; Nixon Says Tapes Were Protection From Aides; Suspicious of Prosecutor; Oval Office Conversations; Dissuaded by Family

Eur investors are re-entering Amer mkt in response to recent rally, with foreign trading making up some 10% of NYSE trading vol; Securities Indus Assn research dir Jeffrey M Schaefer says much of foreign buying comes from Eur, with Mideast investors showing less interest; brokers comment (M)

STOCK RALLY IN U.S. CONTINUES TO DRAW FOREIGN INVESTORS

2d installment of excerpts from Nixon's book, RN: The Memoirs of Richard Nixon

`RN: The Memoirs of Richard Nixon’

Article on Kennecott's problems in light of Curtiss-Wright's attempt to unseat bd; Curtiss-Wright chmn T Roland Berner and Kennecott chmn Frank R Milliken comment; Milliken illus (M)

Copper Producer, With Profit Problems, Fights to Keep Control of Its Board

New Orleans Open: Lon Hinkle wins; illus (M)

Player Stopped; Hinkle Triumphs

The fees paid to outside directors by manufacturing companies have risen about 33 percent in the last two years, according to a study released by the Conference Board over the weekend.

Outside Directors Getting 33% More Than 2 Years Ago

US Treas Sec W Michael Blumenthal says there is considerable support and encouragement among major indus powers for efforts by Adm to bolster dollar, IMF meeting, Mex City; communique signed by orgn's 22 finance mins implies that US should take even stronger unilateral action to protect dollar; Brit Chancellor of the Exchequer Denis Healey says such move would be 'doomed to failure' (M)

BLUMENTHAL FINDS EFFORTS ON DOLLAR SUPPORTED ABROAD

Firemen, Still Fighting Paterson Factory Fires. Fear a Grain Blast

Article on Suffolk County Jail, Yaphank, hiring outside help to farm land while inmates work at learning and developing trades so they will be able to obtain employment when released; illus (M)

Hired Hands, Not Inmates, Till Jail's Soil

With two of New York City's most powerful black political leaders now out of public office, the political leadership of the black community is diffused and weakened at a time when it is confronted with a major challenge to its principal power base, the antipoverty and other social welfare programs.

Black Politicians. In New York City In Weaker Role

impact of Credit Suisse demand for option to buy White Weld Holdings 31% interest on Merrill Lynch acquisition of White Weld discussed; Merrill Lynch recd option to sell shares to Credit Suisse if bank decides not to exercise its option (M)

Merrill Lynch Merger With White Weld Causes Talk, Often Critical

Revolutionary junta proclaims new 'Revolutionary Council,' headed by civilian pres, Nur Mohammad Taraki, reptdly prominent member of Afghan Communist Party; Taraki proclaims new 'Democratic Republic of Afghanistan' and names Prime Min; sources in India describe bloody coup (S)

Afghans,ReportingSovietBacking, Proclaim ‘Revolutionary Council’

profile of Curtiss-Wright; chmn Berner comments; his illus (M)

Diversified Maker of Aircraft Components Presses Biggest Takeover Attempt

Illus of NYC Mayor Edward Koch, NYS Gov Hugh Carey, Israeli Prime Min Menachem Begin and Min Moshe Dayan at NYC tribute marking Warsaw ghetto uprising

BEGIN ARRIVES IN US. AND WILL SEE CARTER ABOUT MIDEAST ISSUES

News Summary

Interest rates climb to highest levels since Mar '77 and new issues sell slowly in face of heavy new-issue vol, investor reluctance, other factors; brokers comment; Jan-Apr graph of mkt rates (M)

Tax‐Exempt Bonds Show High Volume But the Market Ails

Resurgence of programs linked to elimination of some onerous requirements, more attractive curriculums and growing number of women entrants; illus (L)

R.O.T.C. Makes Cautious Comeback As Memory of War Protests Fades

Japanese Prime Min Takeo Fukuda warns that unless US controls inflation and stops decline of dollar, it will be difficult to cut back Japanese trade surplus with US and rest of world; says he wants yen to remain stable at current levels of 222 yen to dollar but implicitly recognizes possibility that yen would continue to surge upward against dollar (S)

Fukuda, Off to U.S., Promises to Battle Big Trade Surplus

council demands Hove's reinstatement and implies that it will withdraw from country's transitional Govt unless demand is met (M)

MAJOR BLACK PARTY DEMANDS RHODESIA REINSTATE OFFICIAL

Kentucky Derby: Article examines outlook for race; illus; charts (L)

Royal Confrontation: Alydar vs. Affirmed In Kentucky Derby

Reptd rivalry between special trade negotiator Strauss and Sec Blumenthal seen affecting decisions in vital areas of econ policy, trade, fight against inflation and dealing with business community; contrasting demeanors and strategy and execution of policy by 2 men discussed; illus (M)

Strauss‐Blumenthal RivalryEmerges Over Inflation Issue

Article on Charles H Kirbo, Pres Carter's close friend and confidant; Kirbo illus (M)

Carter's Confidant Without Portfolio

The New York Mets not only held Pete Rose hitless yesterday, which was a pretty &#8220;good afternoon's work in itself, but also broke free from their batting paralysis and ended a six&#8208;game losing streak by overpowering the Cincinnati Reds, 6&#8208;4.

Mets’ Zachry Halts Reds, 6‐4

Former Paris Police Chief Maurice Grimaud reflects on his role in May '68 student uprisings; his book, In May Do as You Please, has drawn few harsh comments, except from some former colleagues in police and Govt who feel that they are depicted as too rigid and unyielding; illus (L)

Paris Police Chief During ‘68 Revolt Ponders His Role:

Treas to sell $2.5 billion of 10-yr notes and $1.5 billion more of 8 3/8% bonds maturing in 2000 at yields expected to be highest since Aug '75 (S)

U.S. Is Offering Greater Yields

James Badge Dale is an American actor. He is known for his roles as Chase Edmunds in 24, Robert Leckie in The Pacific, Trooper Barrigan in The Departed, Luke Lewenden in The Grey, Eric Savin in Iron Man 3, and Tyrone S. "Rone" Woods in 13 Hours.

James Badge Dale, American actor

James_Badge_Dale

Michael Craig Russell is an American former professional tennis player, and tennis coach. He reached a career-high singles ranking of World No. 60 in August 2007. His 23 United States Tennis Association (USTA) Pro Circuit singles titles were the all-time record, as of November 2013. That month he became the American No. 3.

Michael Russell, American tennis player

Michael_Russell_(tennis)

Aram Ilyich Khachaturian was a Soviet Armenian composer and conductor. He is considered one of the leading Soviet composers.

Aram Khachaturian, Armenian composer and conductor (born 1903)

Aram_Khachaturian

Naomi Uemura  was a Japanese adventurer who was known particularly for his solo exploits. For example, he was the first person to reach the North Pole solo, the first person to raft the Amazon River solo, and the first person to climb Denali solo.

Japan's Naomi Uemura, travelling by dog sled, becomes the first person to reach the North Pole alone.

May 1, 1978

Headlines from May 1, 1978

Nikon Says He Preserved Tapes As Protection Against His Aides; Nixon Says Tapes Were Protection From Aides; Suspicious of Prosecutor; Oval Office Conversations; Dissuaded by Family

STOCK RALLY IN U.S. CONTINUES TO DRAW FOREIGN INVESTORS

`RN: The Memoirs of Richard Nixon’

Copper Producer, With Profit Problems, Fights to Keep Control of Its Board

Player Stopped; Hinkle Triumphs

Billboard 200

Saturday Night Fever

Slowhand

London Town

The Stranger

Weekend In L.a.

Notable Births

Notable Deaths

Historical Events

Historical Context for May 1, 1978