Government Cuts Margin On Stocks
The Federal Reserve Board reduced the cash down payment on stock purchases from 75 to 50 percent, effective Wednesday, in a bid to lift a dormant market. The move, aimed at easing credit constraints, applies to both investors buying on margin and to short sellers, with banks reporting a near all time low in stock credit and trading volumes remain subdued.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve Board
Congress
Otticledls
Mondus
Toitest Avistatet Oottidol Guta
Nicaragua Offers US Canal Route Access Bases for 99 Years
Nicaragua proposed to lease air bases for 99 years and offer facilities for an immediate canal across Nicaragua linking the Atlantic and Pacific. Defense Minister Anastasio Somoza urged the project and said bases in the Gulf of Fonseca and Corn Islands would defend the canal and aid continental security. The plan would shorten Atlantic Pacific shipping by about 1100 miles, with a proposed 11 mile cut and subsequent San Juan river transit to Greytown.
MENTIONED IN THIS ARTICLE
Carl Kupfer
Mexico City
INS
Nicaragua
United States
Anastasio Somoza
Gulf of Fonseca
Pacific
Corn Islands
Atlantic
Lake Nicaragua
San Juan River
Greytown
Panama Canal
Czechs Sentence Two U.S. Soldiers On Spy Charges
Prague reports two American soldiers received 11 and 12 year prison terms for spying. Alexander Jones and Clarence Hill were convicted in a secret trial after crossing the border while absent without leave. US officials identified them as Clarence R Hill of Jackson Minnesota and George E Jones of Owensboro Kentucky.
MENTIONED IN THIS ARTICLE
Prague
Czechoslovakia
Germany
Press Bureau
Alexander Jones
Clarence Hill
Clarence R- Hill
Jackson Minn
George E Jones
Owensboro
G O P Slows Action on ERP Renewal Bill
Washington Republicans halted the administration push for quick passage of the European Recovery Program renewal totaling 5.58 billion dollars. Senate leaders debated funding cuts while Senator Taft prepared to press for a 1 billion dollar reduction, arguing US funds should prioritize domestic welfare.
MENTIONED IN THIS ARTICLE
G.O.P
Washington
Senate
Wall Street cheers as margins cut and auto prices drop
Stocks rise after a 50 percent margin requirement reduction and wage inflation signals. Kaiser-Frazer cuts priced from 19.37 to 333.57, Ford's Henry Ford II predicts broader auto cuts, along with cuts on radios refrigerators and batteries by several firms. Steel, carpet, and fuel oil prices also ease in varied markets across the country.
MENTIONED IN THIS ARTICLE
New York
Wall Street
Washington
Federal Reserve Board
Marriner S. Eccles
Reserve Board
Kaiser-Frazer
Frazer
Westinghouse
Gibson Refrigerator Company
Electric Storage Battery
Willard Storage Battery
Pittsburgh
Jones and Laughlin Steel Corp
Indiana
Federal Reserve Eases Credit Rules May Spur Stock Trading
The Federal Reserve Board eases one more credit curb this month and allows half the stock’s market value to be financed. Brokers say lower margins could revive trading activity and boost liquidity for corporations, while investors may gain easier access to securities. It may signal further easing of bank reserve requirements if April shows weak business.
MENTIONED IN THIS ARTICLE
New York
Federal Reserve Board
Electric Co-Op Seeks REA Loan for Moscow River Dam
The First Hydroelectric Cooperative of Iowa filed with the Rural Electrification Administration for a about 31 million dollar loan to build the Moscow dam on the Cedar River near Muscatine. Officials say no survey or decision date yet. Iowa has pending federal appeals and possible stays if construction begins.
MENTIONED IN THIS ARTICLE
Washington
Iowa
Rural Electrification Administration
Moscow
Cedar River
Muscatine
Cooperative
REA
Senate Appropriations Committee
Federal Power Commission
St Louis
Neil Garrett
Garrett
Cheating Dilemma Reveals Student’s Plea to Teacher
A school term ends with a teacher letting students take finals at home. One student's paper returns perfect with a note confessing cheating to avoid flunking and disappointing his father. The joke underscores moral conflict and filial pressure.
Israel and Trans-Jordan Agree on Armistice Draft
Reuven Shiloah said Israel and Trans-Jordan accepted a draft armistice plan read to them by UN mediator Dr Ralph Bunche. Delegations will seek home government approval. Brig Gen William E Riley and Henri Vigier travel to Damascus to set up talks.
MENTIONED IN THIS ARTICLE
Rhodes
INS
Israel
Trans- Jordan
Zionist Affar
Reuven Shiloah
United Nations
Ralph J Bunche Shiloah
William E Riley
Henri Vigier
Bunche
Damascus
Iowa State Plans Sixty Fire Schools Across Counties
Iowa State College announced on Tuesday that sixty fire safety schools will be held in Iowa counties from April 11 to November 4. The program aims to train local volunteers and officials in fire prevention and response.
MENTIONED IN THIS ARTICLE
Ames
INS
Iowa State College
Iowa
Iowa House Wins First Round in Beer Bill Debate
In Des Moines Iowa the house defeated an amendment by Rep Ted Sloane to raise off sale beer license fees by a 55 to 38 vote. A second amendment by Rep Edna Lawrence to restrict beer permits to 21 plus residents in wet counties failed by 51 to 50.
MENTIONED IN THIS ARTICLE
DES Moines
Iowa House
Ted Sloane
Edna Lawrence
Ottumwa
Scattered Rains Forecast For Iowa This Week
Rain spotted Iowa Tuesday morning as the weatherman predicted scattered showers for most of the state later in the day. A storm developed in the extreme southwest Monday and lingered there, reducing rainfall in Juwa Monday night. Cedar Rapids expected temperatures near 40 Tuesday night then back to the upper fifties by Wednesday.
MENTIONED IN THIS ARTICLE
Cedar Rapids
Iowa
Juwa
Chinese Reds Reported Across Indo China Line
Paris based reports say Chinese Communists invaded French Indo China and attacked Moncay in Tonkin killing about 30. The French garrison held a fort as fighting continued with Chinese forces occupying part of the town. The assault began Sunday afternoon as French evacuated wounded by air and reinforcements were sent.
MENTIONED IN THIS ARTICLE
Paris
INL
Moncay
Hanoi
Tonkin
Indo-China
Leave-Us-Alone Week Echoes National Calendar Craze
Washington humorist notes start of National Leave-Us-Alone week linked to a commerce department booklet and sponsor F L Moorman of Douglas Georgia. He jokes about a flood of special days and weeks through the year and the White House interest via General Vaughan.
MENTIONED IN THIS ARTICLE
Harman W. Nichols
Washington
Tennessee
America
Commerce Department
F. Lander Moorman
Douglas, Ga
Paper Boys
Senate OKs 15-Month Rent Control Extension Bill
The Senate approved the final compromise rent control extension after defeating a Republican bid to send it back to conference. The 15 month bill now goes to the House and President Truman for signature to become law. The measure would extend existing controls that expire Thursday midnight. Debate stemmed from Senator Bricker’s recommittal motion, which failed 53 to 33, after which Vice President Barkley ruled against Cain on the conference report.
MENTIONED IN THIS ARTICLE
Washington
Senate
House
Truman
Sen
John W. Bricker
Iowa Senators Split On Rent Bill Conference Motion
Washington AP report shows Iowa senators Hickenlooper and Gillette voting split on Brick er motion to send the compromise rent bill back to a senate house conference Hickenlooper backed sending it back while Gillette opposed both voting for final approval of the measure.
MENTIONED IN THIS ARTICLE
Washington
Iowa
Bricker
Senate House
Hickenlooper
Gillette
Rent Control Bill Passes In Narrow Vote Amid Debate
The chamber approved the rent control bill 78 to 1 with all 11 opponents Republicans. The principal clash centered on Bricker when he sought to send the measure back to conference to rewrite for landlords profits. Senator Sparkman warned against conference and urged a choice on a 15 month extension versus no extension, while Bricker attacked a provision he called obscure. The bill would extend federal controls through June 30 1950 but includes a home rule clause allowing states and localities to end controls with gubernatorial approval.
MENTIONED IN THIS ARTICLE
Bricker
Cain
John J Sparkman
Bucker
Robert A Taft
Brickers
Sisters Starve Brothers Dead in Food Filled Farm House
In Paola Kansas coroner reports two starving sisters Mandy Stachling 65 and Mattie Stachling 63 were found in a bed under piles of bedclothing while their brother Albert P Stachling 70 lay dead about ten days in a home filled with mountains of food clothing and shoes Officers entered by breaking a locked door describing four downstairs rooms stacked ceiling high with boxes and materials.
MENTIONED IN THIS ARTICLE
Paola, Kan
William Brown
Mandy Stachling
Mattie Stachling
Albert P Stachling
Fred Ivy, Jr
He Needs Them but Will He Read Them
Joseph H. Brady Jr. of Juniata College in Altoona reported his 120 sermons were stolen from the Grier School for Girls near Tyrone. A dollar was taken from his roommate, Grace F. Padgett of Haddonfield.
MENTIONED IN THIS ARTICLE
Huntingdon
Joseph H. Brady, Jr
Brady
Altoona
Juniata College
Grier School For
Tyrone
Also Mentioned on This Page
New York Stock Exchange
Fran Schram
Conamye
Sat Aetien
Martite
Australia
Cpl
Lorenzo Gamboa
U. S
MacArthur
Gamboa
Melbourne
Julie
Raymond
Associated Press
Paul Hastings, Jr
U.S
Today's Index
Marion
GOP
Kenneth S Wherry
Wherry
Tom Connally
Foreign Relations Committee
Connally
ECA
Britain
Kaiser- Frazer
Cambridge
Mass
Henry Ford II
The
Ford Motor Company
Sam Dawson
Stock Exchange
Wall
Jordan
Lawrence
John Duffy
Dubuque
Indo-China Line
Moorman
Sam
White House
Harry H. Vaughan
Mr. Truman
F.L.M
National Association of
Alben W. Barkley
Harry P. Cain
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