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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Aug 13, 1963
Page
2
Tokyo AP reports a fragmented stock market note referencing Dow Jones averages and a return to Red China. The brief item mentions a third group and lacks clear details or outcomes.
A show cause hearing for Jack W. Franks, president of Summit Insurance Co., was continued in Superior Court. The proceedings relate to embezzlement allegations and the attempted extradition of former dictator Perez Jimenez, whose wife Flor, and others, pressed for asset protection as Venezuelan government actions complicate the case. The U.S. State Department and Miami court rulings delayed key steps, with bond set at $300,000 and prospects of further legal maneuvers anticipated.
A fragmented Communist movement in Latin America shows two competing factions in Brazil and Cuba, with Luis Carlos Prestes leading a pro Russian wing and a rival anti party faction attracting young violence minded followers. In Cuba Fidel Castro faces pressure over elections and regional influence. Elsewhere demands for radical change rise as Castro agents push a violent line in Central America.
Committee backs restoring about fifty million by disallowing certain state taxes on gasoline, cigarettes, and liquor. President’s January message cites need for tax reduction as unemployment risks rise without cutting high income taxes. rates would rise to 70 percent for top earners while most saves favor higher brackets. Two thirds of savings to take effect next January, rest a year later.
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