25 YEARS AGO TODAY: Japan Air Lines ordered six McDonnell Douglas Corp. DC-10s worth $153 million Prudential Insurance Co. foreclosed on Bunker Hill Towers, after the City Redevelopment Agency failed to meet payments Global financial markets soared on news that OPEC would ease its oil embargo against most nations.
THE NEWSMAKER
California’s Superintendent of Banks Donald E. Pearson partially lifted a statewide freeze on new offices for foreign banks, allowing operations to open in the financial districts of L.A. and San Francisco. The ban was imposed amid concern that U.S. banks faced greater restrictions on their business activities in foreign countries than those imposed on foreign banks here.
THE NUMBERS
DECEMBER 21, 1973
Dow Jones Industrial Average 828.11
London gold $108/oz.
1973 Ford Thunderbird $5,423
Sanyo 13″ color TV $299.95