Fed lowers reserve requirements to spur lending
The Federal Reserve Board reduced reserve requirements on savings and certain time deposits from four to three percent by mid March, freeing about 850 million dollars for lending. The move aims to ease tight credit, stimulate housing, and support orderly economic growth amid broad measures to bolster the economy.
MENTIONED IN THIS ARTICLE
Jack Lefler
NEW York (Ap
Federal Reserve Board
Johnson
Federal Reserve
Johnson seeks merged Commerce and Labor as new economic voice
Corporate and labor leaders foresee a merged Department of Economics under Johnson to harmonize statistics and guide policy. The plan envisages a cabinet economics chief with power to mediate labor management and consider prices in the public interest while boosting profit margins. A Kerner led Illinois trade mission to Europe aims to sell farm and industrial goods with export credits available, possibly skipping Russia.
MENTIONED IN THIS ARTICLE
North American Newspaper Alliance
NEW York
Johnson
Commerce and Labor Departments
Department of Economics
President's Council of Economic Advisers
Afl-Cio
United Auto Workers
Rank and File
Reuther-Meany
Reuther
Illinois
Otto Kerner
Midwest
Kerner
Gov
Czechoslovakia
Poland
Yugoslavia
Romania
Russia
Selected Group Income Tax Payers Try Out New Form
About 60 000 taxpayers in the South and West join a simplification experiment testing a new seven page form. The form based on questions and answers is being evaluated on return accuracy and a questionnaire, with results expected late this year. The IRS stresses the form reflects current tax laws and aims for clearer, digestible data as automation expands.
MENTIONED IN THIS ARTICLE
New York
IRS
Sheldon Cohen
Commission
Congress
NASD Inter-dealer Prices At 3 PM Thursday
Quotes from the NASD reflect representative inter-dealer prices around 3 00 p m on Thursday. Markets fluctuate during the day and these figures do not include retail markups or commissions.
Universal seeks new face for Jig Saw World Premiere
Hollywood reports Universal Pictures looks for a fresh face aged 22 to 28 to appear in Jig Saw. In the initial scene the new actress will be seen dead, with earlier and later flashbacks showing her alive.
MENTIONED IN THIS ARTICLE
Hollywood
Universal
Opinions Mixed On Bull Or Bear Market In Dow
A reader asks if the market is bullish or bearish as the Dow sits about 100 points above its October low and 150 points below last year’s high. Brokers express mixed views with cautions on earnings and a shift toward leisure shares.
MENTIONED IN THIS ARTICLE
New York
Bache & Co
Eastman Dillon Union Securities Co
Prices For Food Showing Decline
Prices for food are dropping across the nation with egg and milk cuts in Oklahoma City and Portland, a major New York area chain trimming milk and coffee prices, and wholesale milk easing. In Portland cutup fryers, bacon, sirloin, butter, and coffee show lower shelf prices while lamb, ham, and broilers trend downward on the West Coast and in New York.
MENTIONED IN THIS ARTICLE
Sally Ryan
New York
Portland
Ore
Oklahoma City
Okla
New York Area
Great Atlantic & Pacific Tea Co
Brazil
Also Mentioned on This Page
Board Action
Bresident Johnson
Continental Oil Co
Mobile Oil Co
American Oil Co
Department of Interior
A. J. DeWolf
National Machine Tool Builders Association
Commerce Department
F. W. Dodge Co
Dodge
By Lou Schneider
Sears
Aerotron
Aerovox
American & Efird
American Fidelity Ms
American Land
Ale Cage
Bassett Furniture
Blue Bell, Inc
Brush Ilu
Carolina
Carolina Natural Vel¢corms
Pwr
Acss
Coastal Plain Life Ins. Co
Colonial Stores
Eastern Utilities
Eckerd Drugs
Farmers New World
Fidelity Bankers Lite
First Union Nat. Bk
Franklin Life
Franklin Rea Garfinckel
Guittte Ins
Hardees Sys. Debés
Ua Wa In
Phill
N Wa
I Nat. Life
Security Life & Trust Led Co
Capital Life
Stonecutter MI 4A Textiles, Inc
Trans Gas Pipeline
Triangle Brick
Wachovia Bank
Western Power & Gas
Goodbody & Co
Kingsize
Liberty Life
Bill” Allen
Wofford College
Bill Allen
Life Underwriters
L.U.T.C
Bill
Miami
Kellogg Co
Hornblower & Weeks
Hemphill Noyes
York Stock Exchange
W. Gaston St
Greensboro
Geo
G. Jones
Res. Mgr
Charles E. Diffendal
High Point
Crown
UTING
Instant Copies Inc
Charles F. Mann, JR
Allen B
Welborn
Dtmarcom
General Insurance
North Main Street
Bandos
John W. Herndon
John .C. Hawkins
C. Joe Honeycutt and Associates
Gatewood Ave
Occidental Insurance
North Carolina
WOME
Raleigh
J. Sturgis May & CO. Incorporated
Stocks & Bonds
UNLIS
North Carolina Bank FE
Mutual Funds Red Stocks Building
Robert A. McCliston
Accident & Health
Ion I
High Point Bank
E.O. Lane
Lane
John Diffendal
The
Travelers
Hartford
Conn
Piedmont Insurance
Professional Life Insurance Service
P. Clark van
Lyon
Mutual Life Insurance
America
New England Life
Hayten
Life Insurance
Edgar T. Docbrow
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