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OCR Page 1 of 38THE
PRESIDENT
SEEN
NEWS SUMMARY
July 19, 1973
(Wed. nets, wires, columns)
The major stories of the day:
- - RN is "essentially a well man, 11 noted ABC/NBC and will
be back at WH full-time Mon.
- - A "tough," "complicated" and "selective" Ph. 4 for Aug. 12
announced by Shultz led all nets w/3-9 minute reports,
including reaction. Emphasis on immediate end to food price
freeze w/Shultz on ABC/NBC film declining to estimate how
much food prices will rise given forecasting record which
has left Admin. "humble. " ABC/CBS clips as Shultz conceded
food would go up ("not a bright outlook, " said Rather) but
there's no way this can be avoided given costs already in pipe-
line and need for increased production and we shouldn't be
deluded about situation. NBC noted similar RN statement.
ABC/CBS noted other price increases will be stretched out
and will be limited via pre-notification requirement. And
all noted 5. 5% wage guideline remains and that gas/oil prices
will be under ceilings as of 8/12 w/some rollbacks anticipated.
ABC noted no new ag export controls while CBS said current
ones remain, including those on hard-hit soybeans.
Hill reaction slower than usual, said Morton of CBS, perhaps
because this is Ph. 4 and there's more wait-and-see. Javits
w/statement of understanding; very critical Reuss and Chamber's
Booth also on CBS w/Booth glad to see light at end of control
tunnel.
Unhappy beef men on NBC - - freeze there lasts til
Sept. 12, noted all nets -- but on CBS, an Ill. hog farmer was
very pleased. But dairy and poultry people, also on CBS film,
say freeze-caused problems will not only cause jump in prices
but milk and egg shortages. Very negative NYC consumers on
CBS clip voicing concern over "untenable, 11 "insulting" food
price hikes.
Reviewing price increases across board (e.g.,
5% to 22% annually in food) since pre-Ph. 1, NBC's Levine
quoted 1 economist: Maybe we should have quit while we were
behind. NBC also noted this was 5th RN economic plan in 23
months.
D-J up another 7 points -- ABC noting expectations
for helpful Ph. 4.
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