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History

HISTORY/1stjc/mark2nd

20 YEARS AGO THIS WEEK: Appearing before a Congressional subcommittee in Los Angeles, recording artists urged passage of a law requiring radio stations to pay royalties to singers and musicians and not just composers each time a recording of their work is broadcast. Radio station owners argued that such a law would cripple their industry.

THE NEWSMAKER: Federal Trade Commission chairman Michael Pertschuk, at a news conference in Los Angeles, announced a nationwide investigation of price-fixing in the real estate industry, citing a “pattern of uniformity” in fees and commissions. A California Association of Realtors spokesman insisted commissions were set by negotiation.

THE NUMBERS

March 30, 1978

Dow Jones Industrial Average: 759.62

New York Gold: $179.85

Gallon milk: $1.25

25-foot motor home: $18,578

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