This program is 27 minutes long
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Bypassed introduction. Show joined at 5:31:30. Walter Cronkite (New York City)
(Studio) Several banks cut prime lending rate from 6% to 5.75%; may give econ. and employment shot in the arm. Treasury Secretary John B. Connally hopes new rates will reverse inflation trend. Chicago American Bank and Trust Company, Charles Schultz, says cut not justified economy, but political implication obvious.
REPORTER: Walter Cronkite
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(Studio) Negotiations of ntnwide. coal strike broke off.
REPORTER: Walter Cronkite
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(Studio) Chairperson House Ways and Means Committee, Wilbur D. Mills, under attack for revenue sharing slowdown. Mills responds.
REPORTER: Walter Cronkite
(DC) [MILLS - says President peeved at committee and me; won't be intimidated by such tactics; notes Press survived it, so will I; needs new front office management.] Mills says he will speak more about his candidacy next year; will be glad to have woman Vice President; considers self fully qualified on foreign policy. [President National Press Club Vernon LOUVIERE - asks question re: fiscal plans.] [MILLS - says may run if get enough suggestions.] He's ready if South Congman. can be nominated.
REPORTER: Daniel Schorr
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(Studio) President Nixon chooses dean of business school at South Methodist University, Dr. C. Jackson Grayson, to head Price Commission for phase II.
REPORTER: Walter Cronkite
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(Studio) West Germany Chancellor, Willy Brandt, wins Nobel Peace Prize. 1st time state leader has won it in 50 years; to accept prize, November 10, in Norway.
REPORTER: Walter Cronkite
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(Studio) Soviet Premier Aleksei Kosygin tells Canada's Parliament no anti-Semitism is in USSR ; note held 70 news conferences.
REPORTER: Walter Cronkite
(Canada) [KOSYGIN - says USSR incring number of people allowed to leave cntry.; points out 4,450 Jews allowed to leave in last 8 mos.; restricts departures of those who just completed costly education and won't provide Israel with more soldiers; conts. to consider applications of those who want to go to Israel. (Translator interprets.)]
REPORTER: No reporter given
(Studio) Kosygin will go to Cuba Tuesday
REPORTER: Walter Cronkite
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(Studio) Adviser Henry A. Kissinger arrives in Peking, China, to prepare for Nixon's visit.
REPORTER: Walter Cronkite
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(Studio) Cambodia Premier Lon Nol says government no longer willing to play game of democracy and freedom. 1,000's of Buddhist monks protest.
REPORTER: Walter Cronkite
(DC) Thieu has behaved like Vietnam in recent actions; Nol like Cambodian; US insists they act like Americans Nol's timing poor, since Congress considering for. aid. United States should hope for political stability in S.E. Asia in any form; quotes from T. Woodrow Wilson and Clark M. Clifford.
REPORTER: Eric Sevareid
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(Studio) Senate Foreign Relations Committee votes, 11-5, to limit United States aid for Vietnam to only funds for withdrawal. No deadline set.
REPORTER: Walter Cronkite
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(Studio) Talk of arms race between United States and USSR reported Defense Secretary Melvin River Laird concerned.
REPORTER: Walter Cronkite
(DC) United States had nuclear edge on USSR during Cuban missile crisis. Last year they beat United States in land-based missiles. United States has 500 bombers; USSR 140. Weapons shown and described. United States has minuteman missiles; USSR working on MIRV. Nuclear missile firing subs. are United States weapons; gradually being converted to MIRV. USSR has similar subs.; will equal United States in subs. in 1973. United States spies report USSR building up forces. If Soviets develop new missile, could be developing new strategy; could escalate arms race.
REPORTER: Bob Schieffer
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(Studio) In New York, American Bar Association committee evaluates 6 names submitted as potential Supreme Court nominees. White House says American Bar Association may be bypassed. News Secretary Ron Ziegler says choice may be made where no consultation deemed necessary. Associated Press says Nixon to nominate California Judge Mildred L. Lillie and Arkansas attorney, Herschel H. Friday.
REPORTER: Walter Cronkite
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(Studio) Senator Sam. J. Ervin Junior's subcommittee recesses hearings on freedom of press.
REPORTER: Walter Cronkite
(DC) [Federal Communications Commission Chairperson Dean BURCH - says Federal Communications Commission will shun censorship role and avoid intervening where such would be worse than any possible rigging. Broadcaster reluctant to admit something wrong with broadcast. Criticism should be taken seriously.] Burch charges CBS President, Dr. Frank Stanton, with promoting theory of administration conspiracy against broadcast news. [BURCH - says theory is Vice President says something and Federal Communications Commission starts taking away licenses. It's false theory and Stanton knows it.] Stanton denies he suggested conspiracy or impugned Federal Communications Commission cmsnrs. integrity. Hearings will resume in 1972.
REPORTER: George Herman
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(Studio) Senator Finance Committee votes to increase personal tax exemption to $675 from $650.
REPORTER: Walter Cronkite
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(Studio) Admin. forces Houston, Texas, oil firm to rescind boost to propane gas prices.
REPORTER: Walter Cronkite
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(Studio) Executive Director Sierra Club, Michael McCloskey, tells Senator Interior Committee that energy crisis talk highly exaggerated.
REPORTER: Walter Cronkite
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(Studio) House passes bill to give Alaska natives $1,925 million and 40 million acres as settlement of land claims.
REPORTER: Walter Cronkite
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(Studio) Memphis mayor places dusk to dawn curfew for 15 days for violence, following funeral of 17 year old black youth; death ruled homicide; 23 police relieved of duty.
REPORTER: Walter Cronkite
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(Studio) Attorney General John North Mitchell attacks corruption of high public officials. In last 32 mos., 170 past or present office holders from 21 cities, 12 counties and 5 states, indicted or convicted.
REPORTER: Walter Cronkite
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(Studio) Owner of 28 acres near Mt. Vernon about to sell it to USSR .
REPORTER: Walter Cronkite
(DC) [Owner Malcolm MATHESON - describes how he renovated place.] Part of estate dates to 1858. USSR bargains to buy American landmark for $900,000. Congmen. neighbors complained. State Department has 2nd thoughts. [MATHESON - says government should own this place but haven't said they're interested.] Place has been on market 6 mos. and no one offered to buy except USSR who needs Ambassador's home.
REPORTER: Marvin Kalb
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(Studio) United States Postal Service asks that Christmas mail be sent early.
REPORTER: Walter Cronkite
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