eae”, Se Te ee ae ae eee ee Te

LOS ANGELES, Aug. 28 —Ed-
ward L. Doheny and directors of
the Pan-American Petroleum and
Transport company, today faced a
bill of complaint demanding an
accounting of $10,000,000  stock-
holders allege they lost in the fra-
udulent lease of the Elk Hills Na-
val Oil Reserve. —

The complaint, filed in behalf
of Frank H. Kunkel, Cincinnati,
-and other shareholders, declares
the loss resulted from the cancel-
lation of the lease by a decision
of the United States Supreme
Court after the company had spent
several million dollars in the de-
velopment of the field.
 
THE FEDERAL GOVERNMENT said in Washing-
(on it has spent nearly $2 million improving President
Richard Nixon's hames in Florida and California for
security purposes. The White Flouse disclosed that
businessman Robert H. Abplanalp, who helped the
President buy his San Clemente, if. retreat, has
been getting some money bavk in the form of rent asso-
ciated with Nixon's Key Biscayne, Fla., place.

 

 

A5.5 PER CENT increase in 1974 payments to all 28
million Social Security recipients is considered certain
to pass the Senale and is likely to confront President
Richard Nixan next week. Its approval by the House
would test Nixon's post-Watergate mood of accommo-
dation with Cangress, signaled this week when he
signed three bills he originially had opposed.

THE U.S. SUPREME COURT Thursday slapped
down activily by roving border patrols arbitrarily
stopping and searching cars near the United States
border — even if they do find large amounts of mari-
juana. The court overturned the conviction of an indi-
gent Mexican who was arrested when federal officers
stopped and searched his car, without su
25 miles north of the Mexican border in California and
found 161 pounds of marijuana.

  

THE HOUSE APPROPRIATIONS Committee, ap-
parently unshaken by the upheaval within the FI,
voted today (o allow the full administration budget re-
quest of $366.5 million to operate the agency in the 1974
fiscal ycar thal starts July 1

ANUMBER OF East Coast Banks Thursday boosted
their prime interest rate from seven and one-half to
seven and three-fourths per cent, following the lead of
the First National Bank of Chicago, which made the
move earlier in the week. The prime rate is the interest
charged by a bank to its top corporate buyers.
 