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Newspaper
Berkshire Eagle
Location
Pittsfield, Massachusetts, United States of America
Date
Oct 02, 1959
Page
20
Washington reports Treasury officials blame Congress for not abolishing interest ceilings, prompting sale of two billion dollars in four-year notes at 5 percent. The notes, highest rate in 30 years, mark first 5 percent issue since 1929. Treasury also plans to auction two billion in 23 day bills with rates set by bids.
Washington reports American households carried record overall debt by the end of August. Installment credit rose for the second straight month, adding 502 million dollars to bring total debt to about 37.05 billion. Noninstallment borrowing also grew, matching July’s pace and keeping pace with second quarter averages.
Boston report says Gov Furcolo will name John J Droney of Cambridge Middlesex County District Attorney to replace James O'Dea. Droney backed by Sen John F Kennedy, with council support. O'Dea resigned after moving to Nevada to pursue a divorce.
About 100 officers of the General Federation of Women’s Clubs viewed Arthur Summerfield’s mail order pornography exhibit at the Post Office Department after meeting Mrs. Mamie Eisenhower. They expressed shock and distaste at the obscene photographs but remain supportive of Summerfield’s drive against smut in mail. Former Rep. Cecil M Harden aided Summerfield, noting the difference between hearing and seeing the material.
Vice President Richard M. Nixon planned to resume duties in Washington after a mild virus infection kept him home. He canceled ape monuments events Thursday and remained at home.
Washington AP reports Uncle Sam unveiled a new income tax form called IMICW with fewer questions and blanks while keeping the same rate. It targets about 11 million Americans between Christmas and New Year and requires partial eligibility by wage and salary income with dividends and interest over two hundred. The JO40W is the first all new tax form in five years with no major changes to other forms.
Washington AP reports the Army awarded a 1.1 billion contract for continued research and development on the Zeus anti missile system. Western Electric received related equipment funding, with significant investments directed to associated components and programs.
Providence RI AP reports the city council received a resolution proposing a tax on non residents who earn their livelihood in the city. The measure seeks to levy a tax on outside workers operating within Providence municipal boundaries.
President Eisenhower, resting after a cold, spends part of his Palm Springs vacation cooking in George R. Allen’s desert home near La Quinta. He handles meals for himself and fellow golfers Willard H. Robinson and Freeman Gosden, using a TV equipped kitchen and modern appliances in a secluded wing. The White House schedule notes a plain, practical meal routine during leisure time.
CHICAGO AP This day features clock watching in big business offices as Judge Walter J. LaBay plans to publicize a ruling in the 3 billion dollar Du Pont and General Motors stock case. The decision could reshape the government push to end the Du Pont-GM cross ownership and affect stock prices and tax burdens.
Washington AP report says the Labor Department moved Brockton and Worcester from the major labor areas list due to steady job gains and unemployment under six percent. It also dropped Lewiston Auburn Maine and Haverhill Southbridge Webster Ware from smaller areas with unemployment over six percent.
San Francisco deputies enforced posse law on Thursday when needed. Wil Bemley, 30, was fined 1.50 for ignoring a policeman's request to telephone reinforcements.
AFR B52 dropped a balloon with a black box into Hurricane Hannah about 100 miles west of Bermuda. It stayed six hours in the storm sending data to planes about 100 miles away as researchers evaluate a potential system to track hurricanes up to 1000 miles from land.
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