U S May Be In Boom And Bust Cycle
Harvard economist John K. Galbraith told the Senate Banking Committee that the United States may be entering a boom and bust cycle that could mirror 1929 and end in a crash. He urged rescuing safeguards, warned of rising speculation, and outlined four policy steps including higher margin requirements, clear anti speculation stance, tax measures, and stronger NYSE investor education.
MENTIONED IN THIS ARTICLE
Washington
John K. Galbraith
Harvard
United States
Galbraith
Genste Banking Committee
Wall Street
Harold B. Wood
St. Paul
Federal Reserve
New York Stock Exchange
British Labourites Seek Big 3 Meet
London reports show moderates within Britain's Labour party pressing for a major meeting with Churchill, Haven, and Hulson to discuss task destruction, weapons, and dermal policy amid months of factional feuding. Attlee leads the motion in the House of Commons as the shadow cabinet signals a potential return to power if victorious.
MENTIONED IN THIS ARTICLE
London
Wno
Britain
Labor
Churchill-Haven
hower-Hulgon
House of Commona de
Clement Attlee
Churchill
Hho
Red Cross Fund Campaign Aims for $3000 Milestone
The Red Cross drive on Center Street aims to reach 3000 today as campaign chairman Leo I reports. Cold weather slows repainting and door-to-door soliciting, but donations exceed 2000 with estimates of progress as displays boost public response through the month.
MENTIONED IN THIS ARTICLE
Iate
Center Street
Red Cross Fund
Leo I
Red Cross
Juthlor High School
McIntyre
South Center Street
Corry- Jamestown Company
North Center Street
Tunnell
Lena Cohen
Barnes and Chrig
Olln Bracken
Leo al
Mercury
Window Display Committee
J. F. Needham
William Leaby
Don Taggart
Corry-damestown
Stewart's Hat Shop
Pany
Langhurst
Btewart Plumbing
Franz
Atomic cloud drifts east as tests loom at Yucca Flat
Windletown remnants of the year’s largest stock explosion drift eastward under AEC study. A portion broke away from yesterday’s test and moved toward the Pacific while another crossed central California harmlessly. Officials said neither cloud was dangerous. Plans proceed for another test at Yucca Flat near Las Vegas.
MENTIONED IN THIS ARTICLE
Las Vegas
Nev
Atomic Energy Commission
California
Pacific
AEG Officiels
Yucca Flat
Yollos Porth
Laut Vegas
Will
Annallee
Dulles Flags Red Move Likely Against Formosa Islands
Secretary of State Dulles, back from the Far East, said the Chinese Communists are not bluffing and will likely move against Nationalist held Quemoy and Matzu near Formosa. He outlined probable actions including naval or air strikes paired with subversion, while withholding explicit U.S. commitments on defense.
MENTIONED IN THIS ARTICLE
Fries
Washington
CBS
ABC
MBS
Columbia
Dulles
Quemoy
Matsui
Nine From Area Leave For Army Draft
Nine young men named by the local draft board will be inducted into the armed forces tomorrow. The group departs Corry this evening on the eastbound Pennsylvania Railroad train for New Cumberland receiving depot, arriving early tomorrow morning. Inductees include James Welder Donald Edwards Lawrence Proper both of Corry Theodore Lopeno Victor Lindsley Union City Vance Mook Waterford Harry Mervenbacher Joseph King Cambridge Springs and Larry Bisbee Rochester New York. Ten registrants will also leave Corry tonight for pre induction physicals tomorrow and will be returned home after examination.
MENTIONED IN THIS ARTICLE
Corry
Pennsylvania Railroad
New Cumberland
James Welder
Donald Edwards
Lawrence Proper
Corty
Theodore Lopeno
Victor Lindsley
Union City
Vance Mook
Waterford
Harry Mervenbacher
Joseph King
Cambridge Springs
Larry Bisbee
Rochester
N.Y
Court Martial Frees Nugent in Korea War Case
Army Major Ambrose M. Nugent was acquitted on nine specifications after a 38 month Korea War court martial. The Wisconsin officer, once accused of aiding the enemy, expressed a wish for medical check‑up then to resume his Army career. The trial, the longest in U.S. military history, ended with a verdict that neutralized charges of collaboration and related acts.
MENTIONED IN THIS ARTICLE
Korea
Associated Presa Ff. Sill
Okls
Ambrose M. Nugent
la First Love
Ube Feld Artillery
Fils
Wigent
Armer Koren
I Oi Smalle
Nugent
Mereill
Wis
Wiscon Tin National Guard
Mog
Man shoots two women then shoots self at Penn Hall Laundry
Chambersburg Pennsylvania chief H G Byars identified Joseph Kenny 63 of Chambersburg as the shooter at Penn Hall Junior College laundry. He wounded Mrs Mabel Ankerbrand 68 and her daughter Mrs Mowen 3, both of Chambersburg. Ankerbrand was shot in the hip and described as not seriously hurt. Mrs Mowen was hit in the heel arm and hand and in critical condition at Chambersburg Hospital. The gunman died from a self inflicted wound or critical injuries.
MENTIONED IN THIS ARTICLE
Chambersburg
Penn Hall Juniior College
H. G, Byars
Grier
Joseph Keniiht
R. D
Mabel Ankerbrand
Manns Mowen
Chamberain
Mr& Mowen
Chambersburg Hospital
Anier
Spinning auto wrecks bicycle in late night incident
Police report a car driven recklessly on West Main Street near Connie's during the night. A child’s bicycle was found in the street, spun into circles, with officer Alfred Akens noting a possible driver. Ernest Dyke of Centerville was later arrested for driving too fast for conditions. he claimed the bicycle belonged to his nephew. The bicycle was left against a wall by morning.
MENTIONED IN THIS ARTICLE
West Main Street
Alfred Alkens
Akens
Ernest Dyke
B.D. 2
Centerville
Borne
Dyne
Recke
Aikens
Change in school subsidy proposed by two Pennsylvania senators
A two year study on state aid for school construction led Sen. Paul L Wagner and Sen. John H Dent to sponsor a bill adopting most committee recommendations. Reimbursements would be based on actual cost per pupil with ceilings of 1100 dollars per elementary pupil and 1700 dollars per high school pupil. The commission found costs ranged from 474 to 2160 dollars per pupil elementary and from 4300 dollars per pupil for high school.
MENTIONED IN THIS ARTICLE
Harrisburg
Paul L. Wagner
R-Seluylqi
John H Dent
Dwestmoreland
General Assembly
State Council of Education would elect state superintendent
A proposal to permit the election of the State Superintendent of Public Instruction by the State Council of Education was introduced in the Senate by Prank W. Ruth of Berks. The measure follows numerous amendments to the state constitution and aims to alter governance of education in Harrisburg Pennsylvania.
MENTIONED IN THIS ARTICLE
Harryshurg
Pennsylvania
State Council of Education
Bonatoy
Prank W. Ruth
Berks
Senate
Senate panel approves track betting referendum in PA
The Senate Law and Order Committee voted 7 to 5 to put a horse racing betting referendum on the November ballot. If passed the measure proceeds to the Senate for a vote, then to the House for committee referral and a timing process. Sen. Edward Watson says county letters were largely against the bill, while other senators opposed it. The outcome could lead to parimutuel betting regulation if voters approve.
MENTIONED IN THIS ARTICLE
Associated Brean Harrisburg
Pennsylvania
Senate
Law and Order Committee
Robert Watkins R-Delawater
Passige
George M
House
Edward Watson
R-Bucks
Warren
Muel D. Wolfe
Union
Charles R. Mallory
Blair
Trving J. Whalley
Somerset
Meassire
James S. Berger
R-Potter
Berger
Albert W. Johnson
Ilatant Gop Four
Albert S. Readinger
Stephen McCain Dgreene
House Education Committee
General Assembly
McCann
Ino
Route 8 crash injures two men in city limits
A 1939 station wagon van crashed on snow covered Route 8 near Union City inside the city limit. Driver Frank Fowler, 90, and mechanic Ark Garnng, 30, escaped uninjured after the vehicle skidded off the highway, rolled down a embankment, and landed upright with four wheels in the air.
MENTIONED IN THIS ARTICLE
Union Oty
Greenacressroon
Rank Fowber
Ark Garnng
Wahuk'se
Talon City
Flooding Ohio River drives hundreds from homes
Cincinnati reports the Ohio River cresting at 61 feet near Cincinnati with 2 000 families affected across Ohio West Virginia Kentucky and Indiana. Red Cross aided about 1 000 families in West Virginia 500 in Kentucky and 200 in Indiana as towns evacuated. Meigs County Pomroy and Catlettsburg saw water seeping into streets and dozens of homes and businesses forced to flee. Schools closed and river expected to rise to new highs this week.
MENTIONED IN THIS ARTICLE
Cincinnati
Ohio
Tts
West Virginia
Kentucky
Indiana
Weather Bureau of
American Red Cross
J. L. Person
Red Cross
Gallipolis
Pomeroy
Meigs County
Catlettsburg
Muntington
Ashland
Henderson
W.va
Kingston
W. Vo
Senator seeks two year delay on sewage plants rule
Harrisburg report says Sen Frank Kopriver Jr. proposes postponing the Commonwealth clear stream program deadline by two years for municipalities required to build sewage treatment facilities. He argues space-saving methods and potential 8 25 percent cost savings justify extra testing time and extended construction windows.
MENTIONED IN THIS ARTICLE
Harrisburg
Frank Kopriver Jr
R-Alle
Gheny
Beckuss
Kopriver
Eden urges Chiang to withdraw forces from coastal islands
Foreign Secretary Anthony Eden told Parliament that Chiang Kai-shek should pull Nationalist troops from coastal China islands. He praised U.S. and Chinese Communists for easing Formosa tensions but said prospects for a ceasefire are not yet enough to allow progress. The United States has shown willingness to reduce war tensions in the area.
MENTIONED IN THIS ARTICLE
Kai-shek
Associated Press
London
Anthony Eden
Chiang Kai-shek
China
House of Commons
Bangkok
U.S
Dales
Southeast Asia
Eden
United States
Formosa
Council Names Tax Receiver and Depository in Erie
City council last night named Brigt tid Ernst in Erie as wage income tax receiver and First National Bank of Erie as tax remittance depository. Delinquency checks and list furnishing to Ernst were discussed but no decisions reached. routine matters and department reports approved. A separate Montgomery burglary report notes a bedspread stolen through an open window after a bedspread slid away during the night.
MENTIONED IN THIS ARTICLE
City Counc
Brigt Tid Ernst
Erie
First National Bank of Erie
Tressuer
Carl Amit
Rust
Ernst
Erle
Roger Brown
Police Department
Turnpike Driver Claims State Police Used As Messenger Service
Wilbur D. Kilfoyle, truck owner from Spar Winsburg, charges a State Police officer used time on duty to assist a Howard Johnsons restaurant and service center on the Turnpike. Kilfoyle recounts tire blowout, a fire, and a sequence of police involvement including a ticket for a U turn, while new tires and a tube were arranged. He asserts witnesses will support his charges and seeks action.
MENTIONED IN THIS ARTICLE
George M. Deinler
Meenager Service
Howard Johnson Reataurant
Pennaylyonia
Wilbur D. Kilfoyle
M.D. 3
Spar
Winsburg
Kiltoyle
Felin
Kilfoyley
Howard Johnson
Kulfoyle
Kifoyle
Kilfoyle
Bids on Corry bonds to be acted on at session
Bids on $40,000 Corry municipal bonds ranged from two to two and five eighths percent. Council deferred acceptance to a regular session tomorrow night. Low bid was two percent from Security Pensile Trust Co. of Elo. Other bids from Citizens National Bank Corry First National Bank Erie Crawford County Trust Meadville Fauset Steele and Co. Warren National Bank. Also bids on equipment for streets department treasurer’s office and police and fire departments were opened and referred to finance director for study.
MENTIONED IN THIS ARTICLE
Corry
Security Pensiles ‘Trust Company
Elo
Citiens National Bank of Corry
First National Bank of Erie
Crawford County [Trust Co
Meadville
Fauset, Steele and Co
Warren Natonal Bank
Council
Guy Abbey
Iight
Bonse
Streets Department
Police and Fire
Menta
National Cash Roglater
Hart Equipment Co
Pittaburgh
Charles ‘Thompson
Streets
Marti Motorales
W. W. Waterhouse
Wiggers Garage
W. L. Nuttal and Son of
Sherman
Waterhouse Agency
Thompson
Motorola
General
Buffalo Fire Causes Major Building Damage
An early morning blaze in downtown Buffalo damaged a seven story building, with estimated losses around $39,000. Fire Chief John Crotty said a men’s clothing store on the first two floors was destroyed and extensive water damage occurred. cause not yet determined.
MENTIONED IN THIS ARTICLE
Buffalo
John Crotty
Also Mentioned on This Page
Ealed
Joao
Nly
Watt
Harvard Economist
Puraurgh
Bernadotte Ackarin
West
Whitaker
Ackerman
Counnell
Askarmarn
Enate Group Okays
BILL
Montgomery
Billy Kelton
Kelton
Turnpike
Lryoker
Treasurer's
Fire and Police
Buffalo Blaze
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