01 Aug 1951
Page 1
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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Aug 01, 1951
Page
1
President Truman signs a new 11 month economic control act. Federal agencies move to enforce it as OPS and the Economic Stabilizer coordinate rent and price ceilings. The Fed cuts credit terms for consumer goods, and policies aim to curb inflation while defense needs drive price controls.
New York reports a growing buzz around General Eisenhower as a potential Republican nominee. The piece notes contest with Taft for the nomination, Brownell Jr. and Vennerek figures, and the belief Eisenhower could win if Taft supporters are persuaded. It mentions a possible return of the President to run again.
Stocks advance in early trading led by the bellwether as Dow climbs about 1 1 2 points to 105. Firestone hits a fresh high at 117 up 2 a dozen rails show steady moves while unions and major names stay near previous closes with limited losses across the board.
Washington reports that credit restrictions on autos, furniture, TVs, refrigerators, and other household goods were eased. The Federal Reserve Board issued revised regulations under the defense production act signed by President Truman, extending loan terms and adjusting down payments including autos up to 18 months and appliances to 15 percent down with longer payoff periods.
A Los Angeles Communist Party official warned that the Reds will go underground if forced, vowing to continue fighting under any circumstances. The federal indictment targets the party’s second-team, led by William Schneiderman, accusing them of conspiring to overthrow the U.S. government by force and violence and recruiting for six years.
Mrs. Katherine Brown, 53, was placed on two years probation after facing charges of selling a house to a door-to-door salesman for 450 dollars, a sale the salesman said she did not own. Jerome Copeland, the salesman, complained the house did not belong to her.
Senate investigators promise Far Eastern experts Owen Lattimore and Joseph Barnes a chance to answer charges of being Russian military intelligence agents. Testimony from Alexander Gregory Barmine links them to Soviet intelligence. Lattimore calls the allegations pure poppycock.
George C. Trautman says minor league system will die if territorial protections are removed and clubs can freely move into rivals’ territories. He cites financial losses and argues the ironclad limits are needed to keep teams viable, amid congressional scrutiny of the armistice conference and Pacific Coast League mention.
Washington reports ICC order to standardize freight classifications across regions. The move will reduce rates for Southern and Western shippers to align with Eastern levels, though exact savings are not estimated. Railroads must submit a uniform classification within four months. Supreme Court previously upheld the commission’s findings of unjust discrimination.
In Bristol Tennessee investigators seek the kidnapper who abducted a 14 year old girl after a 600 mile drive in stolen cars from New York to Virginia and Tennessee. The girl describes threats and coercion used during the ordeal as she faces ongoing fear and seeks safety.
Navy testimony before the House Appropriations Committee says the service will arm cargo ships and Coast Guard vessels for the first time since WWII. About 3 ships and tankers in the Navy and Sea Trans Service will receive guns and radar, with additional Coast Guard vessels included.
Soviet propaganda strengthens control at home and extends influence abroad by molding public opinion. Moscow touts Communism while amplifying fears of non Communist rivals, citing staged crises and selective history to justify regime authority and world sway.
The Chinese and North Korean Communists demand a truce line along the 38th Parallel, threatening collapse of cease-fire talks. U.N. leaders report no progress after over two hours of debate, while an Allied briefing officer notes negotiators appeared more reasonable.
Luciano Negrini says he was expelled from the priesthood and races to obtain Italian legal clearance to wed Claire Young, a 21 year old American held in a Milan jail for deportation on August 6. Young’s mother asks authorities to refuse clearance, calling her daughter not rational.
Moscow reports Pravda defends Soviet stance amid Western wartime cooperation hopes fading. The piece cites British criticisms of arrests and press freedom, noting Morisson comments on British freedoms versus Soviet guarantees, as Pravda stresses limited press freedom in the Soviet Union.
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