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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
May 02, 1963
Page
13
An AP analysis says major economic forces push interest rates up in 1963 64. Demand for funds grows from private and public sectors, the treasury plans a large deficit, and the Federal Reserve will supply money without over supplying the system, likely lifting rates gradually.
The administration and the Federal Reserve agree deficits should be financed with minimal inflationary impact, favoring nonbank borrowing. Rates on securities may rise to attract nonbank investors, with 3% on 90 day loans and over 4% on long term IOUs. High rates aim to keep gold balances and the dollar strong. If tax cuts pass, Fed flexibility could grow to curb inflation and steer rates, but no drop in rates is expected. The overall message to borrowers and lenders is clear.
Harriett Valentine 41 a state regents member was granted a divorce from attorney Robert Valentine in Appanoose County. The stipulation awards 29000 alimony 3500 attorney fees a sports car and a horse plus a 6000 trust for daughter Theo and 12 shares of Great Northern stock. The couple married in Centerville in 1951 and Valentine led local Democratic party activities.
A Titan I missile exploded Wednesday at Vandenberg Air Base in California during an attempted launch. There were no injuries and damage appeared minor according to AP.
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