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October 26, 1972

10:00 PM

Oct. 26, 1972


Malacañan Palace


216,000 firearms have been surrendered as of this mornings report. The 3rd PC Zone turned in about 103,000.

There was a robbery last night of the Philippine Veteran’s Bank, Quezon City Branch. The robbers killed the two guards, placed them inside the vault, closed it and took ₱300,000 and $100,000. The Metrocom and CIB are still working at it. Looks like an inside job because the vault was opened by the robbers.

No further development in Marawi City other than that the APC in Balabayan could not be moved so the Army is sending an APC from Gen. Zagala here in Fort Bonifacio.

Met Glendon Rowell and Jack Small of the Reader’s Digest which is thinking of putting in an article about martial law.

Messrs. Greenberg and Stempel were accompanied by Cesar Zalamea, their local president. They are worried about their investments in real estate. I explained that the Constitutional Convention had the final say.

Hed lunch with AID Deputy Director McDonald and his Asst Mr. Shoop. They are apparently in favor of a commodity loan of $20 million for Land Reform.

US AID will give a total of $150 m. for aid: $70 for the old programs; $30 m for food and during the flood; and $50 for the rehabilitation program.

Before lunch we worked on prices. We will determine what commodities should be socially supported. Then we determine how much is needed and whether we can afford it.

It is my intention to further bring down prices by 30-50%.