This Day in History

This Day in History (1973): More Money for More Homes

Aramco increases its home ownership benefits for employees.

This Day in History (1973): More Money for More Homes

From the Dec. 19, 1973 Sun and Flare


Sulayman Dabit, pictured on the right, explains policy and administration changes in the Aramco Home Ownership program to Aramco division and unit heads at a meeting held in the Oil Exhibit Theater.


Among the policy changes, where became effective Jan. 1, 1974, were an increase in the maximum loan amount available to eligible employees, as well as an increase in the company subsidy on purchased lots from 20% to 50%.


Regarding administration, a much greater emphasis was then placed on counseling and on expediting home loan applications.


Also on this date

2013 The spaceship Gaia is launched by the European Space Agency


2001 A record high barometric pressure of 1,085.6 hectopascals is recorded in Mongolia


1998 U.S. President Bill Clinton is impeached by the U.S. House of Representatives


1983 The original FIFA World Cup trophy, the Jules Rimet Trophy, is stolen in Rio de Janeiro, Brazil


1974 Nelson Rockefeller is sworn in as vice president of the United States under President Gerald Ford


1956 Irish-born doctor John Bodkin Adams is arrested in connection with the deaths of more than 160 patients. Eventually, he is convicted only of minor charges.


1932 BBCV World Services begins broadcasting at the BBC Empire Service


1924 The last Rolls-Royce Silver Ghost is sold in England


1906— Leonid Bezhnev, head of the Soviet Union, is born in Kamianske, Ukraine


1154 Henry II of England is crowned at Westminster Abbey


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