Lawrence and the nation celebrated the Thanksgiving Day holiday and merchants were getting ready for a massive pre-Christmas shopping rush since the economy seemingly was on the upgrade. Some said the day after Thanksgiving was the best single shopping day of a given year for their businesses.

In a move reflecting was had been the nation’s sluggish economic growth, the Federal Reserve Board lowered its lending rate to banks and other financial institutions by one-half a percentage point to 8.5 percent.

The Nuclear Regulatory Commission proposed a $75,000 fine against the Kansas Gas and Electric Co. because of problems with safety-related welds at the Wolf Creek nuclear power plant.

Gov. John Carlin said he would consider not only how much money the state would have to spend but also what state agency needs were before deciding whether to recommend a tax increase in his fiscal year 1986 budget proposal to be constructed in the next six weeks.