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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jan 16, 1958
Page
4
Secretary of State Dulles said the United States would seek a summit with the Soviet Union only if proper conditions exist and peace prospects look clear. He warned a rushed meeting could threaten security, escalate the cold war, or force a top level break off, urging careful preparation and a clear chance for peace.
Bob Hope recalled nearly ejecting himself from a B 47 jet during a 1953 Tokyo area tour. At Yokota airbase he sat in the co pilots seat with parachute and oxygen mask as he requested a view from the blister. A loose tug on the wrong control could have triggered the ejection seat and disaster.
The government cut margin requirements on stock buying late Wednesday to spur market activity. The Federal Reserve Board announced the move effective Thursday amid broad business reaction and hopes for improved commerce.
Moscow radio said Soviet designers may have created ornithopters that flap wings to fly. The claim notes potential short distance flight and hover ability, arguing lifting power could exceed conventional planes. It questions whether any machines have flown and recalls historical attempts and the Wright brothers.
An explosion at a cold storage firm in Richmond left eight missing and presumed dead. Police cited escapees near the brick building, with ammonia gas believed to have escaped from refrigerating equipment. Rescue work was hampered by fumes. One man rescued with a broken leg and other injuries. Six presumed dead were inside the structure, the other two in a truck at the loading platform.
Fred Poulson a seven year old salesman with a long driving record refused a license renewal saying he has never had an accident and does not want to spoil his good record. He cites the many crazy drivers on the road and is returning the renewal application.
High winds hindered search for a U.S. weather reconnaissance plane missing since Wednesday near the eye of a typhoon off Guam. No crew members were aboard according to officials.
Washington reports the appeals court affirmed the House resolution creating the committee on un American activities and upheld Lloyd Barenblatt's contempt conviction for defying congressional questioning about communism. The ruling follows the Watkins decision and notes the Supreme Court did not explicitly strike down the panel.
Secretary of the Treasury Anderson told the House Ways and Means Committee that a future tax reduction could be considered if current measures fail to move the economy. He urged keeping present rates for corporates and excise taxes on liquor, cigars, and autos, while leaving room to act if needed.
A congressional investigative panel led by Rep. Fascell charges that vast U S aid has been wasted or misused. The report cites military assistance given for political reasons, inflated offshore procurement costs, and lax administration. It urges clear lines between political and military aid and calls for tighter oversight before Eisenhower's proposed four billion dollar request.
President Eisenhower calls for lower government price supports for major crops and dairy, plus relaxed production limits. He outlines a progress program aimed at expanding markets, boosting farm income, and easing controls while noting rapid agricultural productivity gains since 1940.
Police captured Francis Beck after a break-in at a Louisville store. Beck, 45, reportedly clung under a car for several minutes before slipping, then surrendered when officers closed in. He faces charges of storehouse breaking and related offenses.
Chicago Board of Trade president Robert C. Liebenow faults the Commodity Credit Corporation for propping up farm prices and disrupting orderly grain marketing. He warns that over years the government has become the market and urges a sound farm program and ten broad reform principles to ease grain markets.
London reports that showman Mike Tort and actress Beth Taylor plan a visit to Moscow after arriving in London. The pair aim to tour Moscow and broader Europe while likely filming and promoting their act.
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