Margin reduced as Fed lowers stock purchase threshold
The Federal Reserve Board cut the margin requirement for buying stocks from 70 to 50 percent, effective immediately, after two reports showed 1957 ended with weak business. Personal income fell to a 342.8 billion annual rate in December, while industrial production dipped to 136 percent of the 1947-49 average and unemployment rose to 3,374,000.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve Board
Commerce Department
Trust in God Like a Pilot in Winter Weather
The author likens air travel to faith, noting weight, ice, and safety decisions on a plane. He argues passengers often doubt God when prayers seem unanswered, urging trust in divine safeguards as we trust pilots to judge takeoffs amid winter icing.
MENTIONED IN THIS ARTICLE
R. L. Dieffenbacher
D.D
NEA
Secret documents moved to civilian firm for ARDC shuttle
Baltimore report says over 25 000 sensitive items from three ARDC buildings will be relocated to Andrews Air Force Base in 130 trailer loads. The move, lasting 15 days, uses contractor Fuchs as low bidder at 23000 dollars for the job with 1650 personnel.
MENTIONED IN THIS ARTICLE
Baltimore
Air Research and Development Command
Andrews Air Force Base
Washington
ARDC
Fuchs
Clemency Denied for New York Slayer Wetzel
Lt. Gov. Carroll Gartin rejected clemency for William A. Wetzel, condemned in Mississippi, who faces execution tomorrow at Parchman. Wetzel’s case went to four state and three federal supreme courts amid claims of perjured testimony. Sheriff Williams will set the exact hour. Wetzel's family awaits word in Seneca Falls and Romulus, New York.
MENTIONED IN THIS ARTICLE
Gartin
Wetzel
Frank Edward Wetzel
North Carolina
Sanford
N.C
William
Parchman State Penitentiary
Mississippi Delta
State Supreme Court
U.S. Supreme Court
Mississippi
E. W. Williams
Sunflower County
Williams
Indianola
Parchman
Bill Harpole
Ida Wetzel
Seneca Falls
N.Y
Hope Almost Ejected Himself From Plane
Hollywood humorist Bob Hope revealed he nearly ejected himself from a B47 bomber at 18 000 feet over the Pacific during a Pacific tour to entertain troops. Sleep deprivation and a mistaken lever pull nearly caused an accidental ejection, prompting relief as the automatic escape sequence was avoided.
MENTIONED IN THIS ARTICLE
Bob Hope
Guam
Hollywood
Pacific
Yokota
Tokyo
Dulles Cautious On Talks with Russia
Secretary of State Dulles said a summit with Russia is desirable but dangerous if it diverts free nations from security measures or creates a hostile climate. He warned against a session that could intensify the cold war or turn into a hot war, stressing careful aim of the talks.
MENTIONED IN THIS ARTICLE
Washington
Dulles
Russia
National Press Club
L A County Leads In Divorces
Los Angeles County tops the nation in divorce related filings with 32 562 suits including separations and annulments last year, rivaled only by 38 333 marriage licenses issued. Sociologist Dr Martin H Neumeyer cites mobility lax laws and trailing Eastern traditions as causes.
MENTIONED IN THIS ARTICLE
Los Angeles
U.S
Hollywood
Martin H. Neumeyer
University of Southern California
Dr. Neumeyer
Los Angeles County
East
Stock market rally on margin cut boosts trading
The New York market advanced in active dealings after a margin requirement cut from 70 to 50 percent. Key issues rose from a few cents to over $1 with some up $2 or $3, while the ticker lagged eight minutes midmorning. Gains were strongest at opening but extended later, marking higher levels than yesterday.
MENTIONED IN THIS ARTICLE
New York
Two Men Nabbed In Holdup Nets $50,000 Bank Theft
In Falmouth Kentucky two masked gunmen robbed the First National Bank and fled. Tennessee officers later arrested two suspects linked to a separate Trenton bank holdup. FBI said the arrests followed. a clerk was struck and the vault opened, with exact loot pending audit.
MENTIONED IN THIS ARTICLE
Falmouth
Trenton
First National Bank
Tennessee
Planters Bank of
Lorne Lott
Nashville
Tenn
Clifton Rawlins
Pembroke
Ray L. Faisst
Louisville
FBI
U.S
Clarksville
Bowling Green
Rawlins
Lott
Springfield
Eisenhower Urges Looser Farm Controls and Lower Supports
President Eisenhower proposed a seven point program to ease farm production limits and cut price supports for major crops and dairy. He argued productivity has doubled since 1940 and urged actions to expand markets, raise farm income, and lower consumer costs through legislative and administrative shifts.
MENTIONED IN THIS ARTICLE
Washington
Eisenhower
Congress
Secretary of Agriculture
Defense Bill Okay Expected
The House moves to fund Air Force construction with a $549.7 million authorization while a related $1.26 billion missile money bill nears vote. The defense push aims to speed up programs against Soviet progress and would establish ARPA authority with a $10 million allocation. Investigations continue in both chambers with top missile experts recalled for questioning.
MENTIONED IN THIS ARTICLE
Washington
Senate
House
House Defense Appropriations Subcommittee
Defense McElroy
Pee Oe Services Committee
Bearer
Soviet Ornithopter Flight Claim Sparks Air Design Debate
London and Moscow reports say Soviet designers claim to have created ornithopters that flap like birds and may fly or at least reach advanced design stages. Wing types include bird like and insect like shapes. claims note high lifting power and potential short takeoff capabilities.
MENTIONED IN THIS ARTICLE
London
Moscow Radio
Tass
Kitty Hawk
North Carolina
Aeronautical Museum
Pavel Smirnov
Rybnikov
Mother Sees Son Last Time in Communist Shanghai
Mrs. Ruth Redmond and two other American mothers traveled from Yonkers Lynn and New Britain to visit sons jailed in Shanghai for espionage. She appealed to Premier Chou En Lai for mercy as she awaited returns from the prison visit and planned further travel if allowed. The group, including John Thomas Downey and Richard Fecteau prisoners since 1952, prepared to leave Peiping for the Hong Kong border after their farewell visits.
MENTIONED IN THIS ARTICLE
Hong Kong
Ruth Redmond
Hugh
Shanghai
Yonkers
N.Y
Red
Chou En-lai
Also Mentioned on This Page
Lloyd Johnson
Romulus
Hope
L. A. County
de Mathieu
Duesseldorf
Germany
Art Academy
Mathieu
Anno
Kaiserpfalz
Kaiserswerth
Secretary of the Treasury
Anderson
Ways and Means
Bill Okay
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