June 16, 1978

Co agrees to $32 million settlement to aid job advancement by women and minorities arising from '73 discrimination charges brought by EEOC; details; EEOC Chmn Eleanor Holmes Norton and GE vp Frank Doyle comment (S)

Frank, Mary: Ceramic sculptures, drawings and monoprints at Neuberger Museum revd by V Raynor; illus

NYS Appeals Ct upholds const of law forbidding loitering in public places for purposes of prostitution; statute has become major enforcement tool as it requires less rigid standard of proof than actual prostitution charge (M)

Co celebrates 75th anniv on June 16; illus of top execs (M)

Sen Banking Com votes 12-3 on June 15 to authorize $1.5 billion of long-term loan guarantees for NYC, but sets strict preconditions before Fed aid can be given and creates tight controls to monitor it; amt is $500 million less than HR approved; key city lobbyist stresses need for HR bill, which was sponsored by Repr William S Moorhead; Mayor Koch hails Sen com vote; Chmn Proxmire comments; he, Sens John Tower and Jake Garn voted against bill; Sens who voted for bill listed; passage linked to force of arguments by city's backers plus intense lobbying by Carter Adm, including Pres and Vice Pres Mondale; Sen bill provides guarantees only for long-term borrowing and does not provide Fed aid for seasonal borrowing, as does HR bill; other features of Sen bill that are not in HR bill listed; HR bill makes $2 billion of guarantees available immediately; Sen com bill would make $1.5 billion available as follows: $500 million in fiscal '79, $500 million in fiscal '80, $250 million in fiscal '81 and $250 million as incentive bonus when city balances its budget;' either house of Cong could vote to withhold guarantees in 2d or 3d yr if it were dissatisified with city's financial performance; staggering of guarantees and giving either house future veto was proposed by Sen Richard G Lugar; actual form of guarantees was proposed by Sen Adlai E Stevenson 3d; com rejected amendment by Sen H John Heinz 3d that would have required unguaranteed lending by banks, munic pension funds and other financial insts; adopts Heinz amendment that requires that before guarantees can be extended, city must present 4-yr borrowing plan with commitments for private placement of much of bonds; illus of Lugar, Brooke, Proxmire (L)