This Day In 1970's History: Sunday July 24, 1977
- The purchase of Bert Lance's 200,000 shares of National Bank of Georgia stock has been tentatively arranged, his trustee said. Mr. Lance's holdings were put into the hands of a trustee when he became the administration's Director of Management and Budget. Thomas Mitchell, the trustee, said that the price for the shares would be above the bank's book value and would be sufficient to pay off Mr. Lance's $3.4 million personal loan at the First National Bank of Chicago, which was being questioned by the Senate Governmental Affairs Committee. [New York Times]
- "Highly adverse consequences" may follow if the world, as it now seems likely, depends increasingly on coal for energy over the next two centuries, a panel of blue-ribbon scientists said in a report to the National Academy of Sciences. They foresee climate changes beginning in the next century and by the latter half of the 22nd century a global warming of 10 degrees Fahrenheit that would be tripled in high latitudes. The increased temperatures could radically disrupt food production, lead to a 20-foot rise in the sea level and seriously lower productivity of the oceans. [New York Times]
- The first oil sent through the Alaska pipeline, from Prudhoe Bay to Valdez, the pipeline's southern terminal, will be shipped by tanker to a refinery in Cherry Point, Wash. The tanker's trip symbolizes the hope of a nation trying to break its dependence on foreign oil, and it will also carry with it the hope of the United States maritime industry for a revitalized merchant fleet. American ships will be the principal beneficiaries of the new traffic that the pipeline is expected to generate. [New York Times]
- For seven days, a fire has ravaged the slopes of Mount Katandin, Maine's highest mountain, and the efforts of 300 state forest rangers, game wardens, volunteers and National Guardsmen have failed to subdue it. [New York Times]
- Sources of additional aid for New York City's recovery from looting and vandalism during the July 13-14 blackout were explored by the Carter administration. A White House spokesman said that federal officials were studying formal requests to have the city declared a "disaster area." Other aid may be provided by the Federal Economic Development Administration, which has asked for a list of damaged public facilities that need to be replaced as a result of the looting and vandalism. [New York Times]
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