Rate Hike Impacts Savers and Borrowers Across Banks
The Fed raises its discount rate to 4 percent while increasing deposits pay on time certificates to 2.5 percent, pushing savers toward higher yields and banks to compete for funds. Smaller denomination CDs become available to individuals, with terms often 90 days to a year.
MENTIONED IN THIS ARTICLE
Mutual Savings Banks
Savings and Loan Associations
Fed
Voters OK 450000 Bond for Roosevelt Park High
Fergus Falls voters approve a 450000 school bond by 714 to 203 to fund a vocational wing at Roosevelt Park High School. The addition will provide about 30000 square feet of shop and classroom space for occupancy in the fall of 1966.
MENTIONED IN THIS ARTICLE
Fergus Falls, Minn
Roosevelt Park High School
Weather forecast shows below normal temps in western half
The Weather Bureau forecasts a cool period from mid December to mid January with average temperatures below normal across the western half of the nation the upper and middle Mississippi Valley and the Great Lakes area. Precipitation is expected to exceed normal from the Continental Divide to the Appalachians.
MENTIONED IN THIS ARTICLE
Washington
Weather Bureau
Mississippi Valley
Great Lakes Region
Continental Divide
Appalachians
Mill City Real Estate Operator Paid for Preferential Treatment on Loans
Melvin C. Gittleman testified in a Minneapolis federal case that he paid 17 500 to four Twin City Federal insiders for favored loan handling. The former credit manager James C. Condon is charged with conspiracy over approving loans. Gittleman said about 1.5 million of his 1960s loans were in default as experts noted inflated appraisals aided by officials.
MENTIONED IN THIS ARTICLE
Minneapolis
Twin City Federal Savings and Loan Association
Melvin C. Gittleman
James C. Condon
Condon
Gittleman
U.S
Stanley H. Green
Gunnar H. Nordbye
Twin City
Hartmann
Larson
Ogdahl
West Broadway
Association
Viet Nam Could Harm Johnson's Political standing
AP analyst James Marlow argues the Viet Nam war poses Johnson’s most baffling challenge and could cost him politically if a settlement isn’t reached before the 1966 elections. He notes direct diplomacy with Ayub Khan and ongoing U S–North Vietnamese standoffs, while Republicans push for stronger action and use the war as a campaign issue.
MENTIONED IN THIS ARTICLE
Washington
Viet Nam
Johnson
Senate
White House
Harry S$. Truman
Pakistan
Mohammed Ayub Khan
Khan
Gas rate hike suspended by Power Commission
The Montana-Dakota Utilities Co. faces a temporary halt on a proposed 230 300 annual wholesale gas rate increase. The suspension lasts up to five months under the Natural Gas Act, with potential refunds if proceedings finish after May 15. The utility serves 99 communities across five states and argues higher revenue is needed for a fair return amid customer protests.
MENTIONED IN THIS ARTICLE
Washington
The
Power Commission
Montana - Dakota Utilities Co
Minneapolis
Montana-Dakota
Commission
Montana
North Dakota
South Dakota
Wyoming
Minnesota
Montana - Dakota
Protest over North High Christmas Tree by Youths
Fifty four students sign a protest petition at North High School saying the decorated tree in a hall pressure on minority groups and a public school symbol. Principal Chester M. Johnson says confusion over a spruce as a religious symbol is unfounded and the issue will be reviewed. A 17 year old protest leader cites discomfort with a public building display and the board receives the petition.
MENTIONED IN THIS ARTICLE
Minneapolis
North High School
North
Chester M. Johnson
S. Michael Guggenheim
U S to Lend Back Indians Their Money
New Delhi AP reports the United States agreed to lend India 73.5 million rupees for surplus foods repaid by India. Funds will refinance loans through the Industrial Development Bank of India and support projects via the Investment Corp of India aiding private firms.
MENTIONED IN THIS ARTICLE
New Delhi
United States
India
Industrial Development Bank of India
Investment Corp. of India
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