Discount rate cut sparks optimism in business and markets
Washington AP reports the Federal Reserve shortened its Philadelphia district discount rate from 3 to 2.445 percent effective Wednesday, with New York’s Chase Manhattan cutting its prime rate from 4.15 to 4.5 percent. Analysts call the move a boost for business as banks may lower financing costs for companies and expansions.
MENTIONED IN THIS ARTICLE
Sterling F. Green
Washington
Federal Reserve Board
Philadelphia Reserve Bank
New York
Chase Manhattan
Wall Street
Federal Reserve Banks
New York City
Jim Houlton
Ress
New York World Telegram and Sun
Gladys Anne Holton
Cedar Rapids Gazette
Benson Promises Gradual Farm Price Support Cuts
Secretary Benson told the Senate Agriculture Committee in Washington that price supports would be reduced gradually if Congress approves the administration farm program. He stressed that abrupt changes would be avoided while committee members remained skeptical about his cost estimates and accused him of misleading accounting.
MENTIONED IN THIS ARTICLE
Washington
ULP
Benson
Congress
Senate Agriculture
U S Red Scientists Visits Policy Criticized
Washington AP report quotes Warren Weaver of the Rockefeller Foundation complaining that U S restrictions on visiting Communist scientists hinder scientific exchange. He cites Cambridge Mass institute access, a 1955 astronomy meeting invitation, and exceptions for cartoonists and athletes, urging broader support for journals travel funds and better government science reporting.
MENTIONED IN THIS ARTICLE
Lewis Gulick
Washington
APIA
U.S
Warren Weaver
Rockefeller Foundation
Yhouse
State Department
Russia
Weaver
National Scilence Foundation
American Assocition For the Advancement of Suspence
Massauchussits Institute of Technology
Cambridge
Mass
Harvard Medical School
Boston
International Congress of Astronomy
Rockefeller
Aly
Indian judge hands Klansman penalty at rally near Lumberton
James Garland Marlin, a Ku Klux Klan member, was convicted by Assistant Recorder's Court Judge Lacy Manor of carrying a concealed weapon and public drunkenness at a KKK rally near Lumberton. Marlin received a six day suspended sentence and a $60 fine plus costs. The judge denounced the Klan and urged reconciliation with the local Indigenous community after a night of disturbances. The report also notes a separate burglary at a Washington market where thieves ransacked a safe from a store's refrigerator.
MENTIONED IN THIS ARTICLE
Lansman
Ty Blois W. Britt
Lumberton, Inc
Here
Recorder’s Court
Lacy Manor
Gas explosion injures twelve near Farmington plant
In Farmington Newfoundland and Labrador, a gas cloud at a construction site exploded late Tuesday injuring twelve people, seven seriously. About 70 cars were driving through the area when the blast sent a sheet of flame over three acres, knocking one passerby from her seat and forcing evacuation of workers leaving the plant. A company spokesman blamed a valve left open on a liquefied gas line, with a spark from a car cited as the ignition.
MENTIONED IN THIS ARTICLE
Farmington
NL AM
June Gorham
Aba
Desert
Arund
Paul Miller
Denver
Miller
Wisconsin congressman Rep. Lawrence Smith dies in Washington
Rep. Lawrence Smith of Wisconsin, 65, dies after entering the House restaurant and being pronounced dead at a hospital. A longtime congressman, his death leaves 232 Democrats, 17 Republicans, and 6 vacancies in the House.
MENTIONED IN THIS ARTICLE
Rep. Smith
Wisconsin
Washington
Lawrence Smith
R-Wis
Smith
Congress
House
Elk Collides With Car Then Tramps Through Snowdrift
A thin elk bull was struck by a Messer ischmidt car in Joenkofping Sweden, pushed into a snowdrift and then climbed out trampling the car’s plastic top. The incident occurred Tuesday and involved the elk retaliating by moving through the drift and leaving the scene.
Committee Backs Rogers for Post
Washington AP reports the Senate Judiciary Committee on Wednesday approved President Eisenhower's nomination of Wyltham Rogers for attorney general, advancing the nomination through the Senate.
MENTIONED IN THIS ARTICLE
Rogers
Washington
Senate
Eisenhower
Wyltham
SEC Warns Rising Number Hit by Dubious Stock Plans
The SEC warned Congress that growing numbers of inexperienced investors are being drawn into questionable stock schemes. It urged tighter disclosure and enforcement to protect public confidence in the capital markets and curb aggressive sales methods.
MENTIONED IN THIS ARTICLE
SEC
Rush Morris
Washington Ins
Con
Eress
Securities and Commissars
Dneney
Seci
Cilies
Agen ix
Mid East Backing Promised Amid Global Tension
A fragmented report outlines promises of backing for Middle East groups amid Cold War pressures. It references a U S policy stance against Communist influence and notes a congressional led resolution approved by the President to defend Western interests in the region.
MENTIONED IN THIS ARTICLE
Congress
Optimism Mounts at 14th Home Builders Meeting
Naomi Doebet praises growing optimism at the National Association of Home Builders 14th annual convention in Chicago. Attendance is expected near 30,000 as builders report solid housing demand nationwide. A looser money stance after the Federal Reserve’s discount rate cut is seen aiding construction finance, potentially boosting Midwest investments via insurers and other lenders.
MENTIONED IN THIS ARTICLE
Naomi Doebet
Cornelre
Chicago
National Association of
United States
Federal Reserve Board
Bandits Loot Hotel Boxes for Fifty Thousand Dollars
In Miami Beach an intruder wearing a flesh colored plastic mask robbed the King Cole Northshore hotel of gems and cash from 38 safety boxes. Night clerk Barazai and employee Stearns described the masked thief, who used a snub nose gun, as police investigated the non forceful entry and two-key box security.
MENTIONED IN THIS ARTICLE
Miami
Barzol
Stearns
Karen
Transfusion Blood Tagged by Race Sought in Georgia
Atlanta studies a state bill proposing racial tagging of blood used for transfusions. Senator introduces measure seeking labels by race to tag donated blood. The proposal notes aims to improve matching and track blood supply.
MENTIONED IN THIS ARTICLE
Atlanta
AFI
Georgia
Reuther Warns Big Corps Threaten Economy At Convention
Detroit AP Walter Reuther told 3,000 delegates at a UAW convention in Detroit that large corporations risk the nation’s economy by taking excessive profits. He advocated a profit sharing plan and tighter economic policies, citing a balance of production and purchasing power and criticizing Republicans. He suggested reforms like a shorter work week and a new bargaining framework to raise living standards and stabilize industry.
MENTIONED IN THIS ARTICLE
Dwight Litkin
Detroit
Walter iReuther
Unidea Auro Workers
UAW
Alusenie Temple
Reuther
Michigan
Nepar Wations
Atlantic City
Ivery
Carl Stellato
Ducal
Ford
Uniisil
Caracas Curfew Follows Rioting Report 50 Killed
Caracas imposed a dusk to dawn curfew after rioting that left about 50 dead and 40 injured in street clashes. The strike, amid tensions surrounding President Marcos Perez Jimenez, led to arrests and widespread shutdowns with civilians and Americans in Venezuela watching closely.
MENTIONED IN THIS ARTICLE
Caracas
Venezuela
Washington
Ino Street
Iitas
State Department
America
Aid
Senators Refuse Arms Studies by Eisenhower Requests
President Eisenhower Wednesday read to senators copies of two secret reports on proposed defense improvements. The inquiry chairman said the panel would not release the reports, arguing they were prepared for confidential presidential use. Eisenhower noted Congress could obtain similar information through their own channels.
MENTIONED IN THIS ARTICLE
Washington Cape
Eisenhower
Sitar Tohtson
Eizenhower
Une
Rooster Evidence Ties To Assault Trial In Texas
A rooster used as evidence in a Texas assault case was described in court as entering a fight and causing injuries. Judge Wash Storm found the defendant guilty of simple assault, fining him 825.
MENTIONED IN THIS ARTICLE
Alice
Texas
API
Edward ¢S
Storey House
Earl Barn
Wash Storm
Cre
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Reserve Board
Philly Bank
Bache and Companys
A.W. Delomek
Gerald Loeb
E. F. Hullon and Company
Federal Reserve
Foxy, Veron
Mader
Fanada
SRC
Sears
Hatefon Illewel
Mid-East
WASH
Seyn
Reneern
TE Tepeters
Ann
Eisenheaver Plerigert
Corporation
Danger
Raps Galdwater
Minarity Action
Peturn
Ali Gee
Tolders
Paccitives
YattWonthdie
Cnart
Usiens
Cestaand
N. Iowa Normal
Tusa
Iowa
Elwen Pein
Manx
Indiana
Town City
Dyersville
Dubuque
Clineton
Scott Coants
Decatur
Davis
Koails Nurminl
Cilletay Opponents
le Tiueder
Kan
Palberedi
Sina
Mundlerrd
Cual
Savas Fron
Interiar Minisus
Claracter- TN
Luisi Ave
Imee
Tech Poy Shale
Nore Mal
Ollumwa
Clinton
Olfianwa
Tipton
Ravenport
Burtington
Lamont Ant
Aichie Shadle
Webster City
Virgil Lenning
Vericen
Ilinois Central
Northey
Arthur Downing
Valery Saints
Independence
Anamosa
Eli Shada Wis
Huher Street
Ler
Homer Darnell
Tintona
Snow Bells
Riverside
Branch
Wheathind
Aud- Prarie
Bennett
Calams
Lost Nation
Lone Tree
Colisbus Junction
Anton
Charlotte
Furmiers
Roadside
Pace
Cnmics
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