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(Studio) New York City Mayor Abraham Beame leads delegation of mayors to Congress in quest for New York City federal aid.
REPORTER: Walter Cronkite
(DC) 15 mayors appeal to joint economy committee [President conference of mayors and New Orleans Mayor Moon LANDRIEU - says New York City not here for handout. Not asking for anything that wasn't done for private enterprise; not asking government to do anything it hasn't done for itself.] [BEAME - says state has done all it can. If federal government doesn't help, problem afterwards will be much more serious.] Mayors ask for federal guarantees for New York City bonds and notes, and emergency loans. [Treasury Secretary William SIMON - says costs and risks for assistance outweigh benefits.] [Senator Hubert H. HUMPHREY - says Simon said administration will amend bankruptcy act to take care of banks.] Mayors meet with President Admin.-says if New York City defaults, it won't hurt rest of US.
REPORTER: Robert Schakne
- Cronkite, Walter;
- Schakne, Robert
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