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Newspaper
Austin American
Location
Austin, Texas, United States of America
Date
Feb 25, 1949
Page
5
Rail stocks led another market retreat with the general index at a near year low. The slide marked a fifth straight losing session as 113 stocks hit new 1948-49 lows and turnover rose to 880,000 shares amid weather costs and blizzard fallout.
A House agriculture subcommittee approved a bill to authorize Rural Electrification Administration loans for a vast expansion of rural telephone lines. The measure, with amendments to protect existing companies, sets 35 year loans at two percent interest and aims to spur private rural telephone development. Chairman Harold D. Cooley indicated the full committee would act soon.
Corporal John R. DeMille of Framingham Massachusetts pleaded guilty to malicious destruction of property and paid the New York Central Railroad $150 in cash in Cleveland. Judge Kovachy gave a suspended sentence and released him under military police escort to Fort Knox Kentucky for his third enlistment.
Robert Radtke of Alturas California bailed out at 8000 feet during bad weather while flying to Sacramento. He landed in remote terrain in east Shasta County and walked through waist deep snow to a Goose Valley ranch near Burney, covering at least 15 miles with no food and a fire to stay warm.
In New York on February 24 the paternity case against Metropolitan Opera tenor Ferrucio Taglini Tagliavini was adjourned due to illness of one judge. He had been set to testify in his defense against Mary Phillips, a 28 year old singer who claims he fathered her 16 month old daughter.
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