Treasury Proposes Longer Holding Period for Stocks
Treasury argues lengthening the stock holding period to one year would spur trading and raise about 180 million dollars annually even with a lower capital gains rate. The NYSE counters that such a change would reduce trading by 10 to 15 percent, lowering liquidity and tax collections by roughly 100 million dollars a year, a result that could hurt the economy and budget.
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University of Alabama Ordered to Admit Two Negroes
U S District Judge H Hobart Grooms ruled in Birmingham that the University of Alabama must admit two Negroes in June. LeMaistre, president of City National Bank of Tuscaloosa, condemned federal court edicts desegregating Alabama schools as defiant. The remark quoted warned that defiance carries a high price for the state.
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Reform Drive Outlined With Narrow Margin Call
Local council discusses a reform plan as a public meeting outlines steps to implement changes. Officials urge cautious progress while outlining timelines and potential impacts for residents and businesses.
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