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Died. James M. Cox Jr., 71, newspaper and broadcasting executive; after a long illness; in Miami. Born to politics and printer's ink, Cox was the son and namesake of the newspaper publisher and Ohio Governor who ran a losing race against Warren G. Harding as the 1920 Democratic presidential nominee. Starting in 1929 as a police-beat reporter on his father's Dayton Daily News, he later led the Cox chain's expansion into broadcasting. The Cox holdings grew to include major newspapers and TV and radio stations in Ohio, Georgia, Florida, Pennsylvania, North Carolina...
...many of the same reasons, the Houses and undergraduate dormitories are facing a deficit of up to $800,000 this year, the largest housing deficit in Harvard's history. The red ink is separate from the Faculty's own $2.5 million, but the Faculty still has to deal with...
Inflation, especially of oil prices, pushed the U.S. trade deficit in August to $1.1 billion, the worst red-ink figure for any one month ever. According to Commerce Secretary Frederick Dent, the nation imported 10% less oil in August than it did a year earlier-but paid $1.7 billion more for what it did import. Higher prices for foreign steel and paper also added significantly to the import bill, underscoring the point that American consumers are being hurt by overseas inflation as well as by the domestic variety...
...building. Seizing eleven hostages, including French Ambassador Count Jacques Senard and several business executives, they issued a nonnegotiable demand: a comrade held in a French prison must be released or the hostages would be killed one by one, beginning at 3 next morning. The demand was scrawled in red ink on a piece of paper and tossed out a window. It was from the Japanese Red Army, the terrorist group that two years ago gained international notoriety by massacring 27 people at Lod Airport in Tel Aviv...
...this month, down 10% from July. Meanwhile, prices continue to rise. Oil imported into the U.S. in July hit a record $11.69 per bbl.; the cost of paying for it pushed the U.S. foreign trade deficit to $728 million, the third highest monthly red-ink figure ever recorded...