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Newspaper
Bridgeport Telegram
Location
Bridgeport, Connecticut, United States of America
Date
May 22, 1958
Page
16
The Bridgeport Telegram lists its morning daily except Sunday edition at 410 State Street Bridgeport Connecticut with a Dial ED 3061 exchange connecting all departments.
Henry C. Alexander of J P Morgan & Co called for an immediate across the board income tax remission, personal and corporate, to stave off a deepening recession and pressure on the cold war. He warned inflation risk from deficits but argued tax cuts would prompt recovery and urged urgent congressional action.
Amid Cold War atomic program expansion the Navy seeks funds for an atomic carrier three atomic powered guided missile submarines and several other nuclear ships. Congress already approved millions for new carriers and subs as the United States maintains leadership in powered warships and guided missiles. The Savannah keel at Camden marks the first atomic powered merchant ship in the world planned to carry passengers and cargo.
A powerful commercial vessel flying the US flag signals the start of a completely new era in shipbuilding, marking a milestone in naval commerce and industrial progress. The event emphasizes modernization and national capability in maritime construction.
The Nutmeg State Firing Association, parent to 35 hotrod groups, plans at Stratford meeting focus on community service and safety. Members aim to reshape public perception of hotrodding through partnership with local authorities, stressing attitude matters as much as car condition for safe street travel.
Harold Stassen’s bid for the GOP nomination failed as Arthur T. McGonigle won with over a half million votes, ending Stassen’s presidential hopes and signaling the decline of his national campaign. The piece notes his past races and party backlash along with satirical remarks on money and politics.
Hartford Courant reports the New York State Medical Society urged federal action to stop television ads for remedies featuring faux doctors. The piece attacks dramatized white coats, misrepresented bedside manner, and perpetual patient fear as Madison Avenue gimmicks. It calls for banning fictitious diseases and urges stricter ad controls.
Dr. Jules Hackman of New York University analyzed price data from post WWI to 1957 to show that rising living costs during most recessions are not unique. He cites declines in industrial production and modest or opposite price movements in several downturns, warning against assuming a novel economic pattern.
President Eisenhower's cautious leadership draws Democratic and liberal critique amid recession fears. Polls show a rebound as Congress backs key foreign and economic bills, including the Reciprocal Trade Act and military aid measures. NATO allies at Copenhagen acknowledge U.S. leadership while discussions on a nuclear test summit proceed with caution.
AP analysis notes weariness with long efforts to shape global goodwill while Congress reshapes foreign aid and trade policy. Senate probes Latin America relations and aims to strengthen aid and reciprocity as a permanent policy amid economic strain at home and rising international tensions.
Overseas Outlook argues General de Gaulle could become France’s manager of democracy guiding national interests amid Algeria crisis. It notes French nationalism rising after the military coup and stresses U S caution on policy toward NATO and Algeria while De Gaulle may pursue France’s best path regardless of allies.
The May report notes more than 300 firms failed this year, mainly mid-sized with liabilities from 3000 to 25000, while new enterprises outpace failures. New York, Los Angeles, Philadelphia, and Chicago see most failures. manufacturing shows the fastest rise, with a shifting dollar value context and sales issues cited.
A humor item notes a swan who proudly reveals his sobriety, describing him as the only swan who announces he is sober. The quip plays on vanity and self awareness in a concise, witty line.
Excerpts quote critics like Charles W. Thayer and Rep Charles C Porter arguing secrecy by the Atomic Energy Commission threatens the public’s right to know while figures like Judge Harold Medina defend transparency amid a broader anti communism era dialogue about rights and security.
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