Money Tightened In Move Against Renewed Inflation
The Federal Reserve Board raised the discount rate from 3 to 3 1/2 percent at five banks including New York Chicago St Louis Minneapolis and Dallas with seven more expected to follow. The action aims to curb credit expansion amid signs consumer prices may rise. Inflation concerns persist as the cost of living index nears record highs and officials warn recovery could fuel price hikes.
MENTIONED IN THIS ARTICLE
Federal Reserve Banks
Reserve System
New York
Chicago
St. Louis
Minneapolis
Dallas
Wall Street
Federal Reserve
Army Works On New Avro flying saucer prototype
Brig Gen F H Britton of the Army Research Office confirms the service is developing a ground‑cushion vehicle called the Avro car. The project, tied to AVRO Aircraft of Canada, has cost over five million dollars and aims to replace some light tanks and troop carriers. Britton’s remarks, about to be censored, hint at official acknowledgment to curb speculation.
MENTIONED IN THIS ARTICLE
Washington (Ap
Army
F. H. Britton
Army Research Office
Britton
House Space Committee
Avro Aircraft, Ltd
Canada
Gulf Coast Feels Its First Tropical Storm
The season's first tropical storm formed in the Gulf of Mexico and headed toward the Louisiana coast with winds near 50 mph. The exact landfall location remained uncertain as the storm pushed Gulf waters higher by two to four feet and prompted small craft warnings from Sabine Pass to St. Marks.
MENTIONED IN THIS ARTICLE
New Orleans
Gulf of Mexico
Louisiana
Gulf
Sabine
Tex
Louisiana State Line
St. Marks
Fla
Midshipmen to be Army officers after graduation
ANNAPOLIS Md AP six graduates of the Naval Academy will become Army officers after graduation next week. The group includes an admiral's son Pau F Keefe and Arthur Emerson Coke their fathers Army colonels. Other graduates are John M Rourke Michael Joseph Cronin and James W Tritz. The change follows a new wartime transfer option allowing service academy graduates to join another service.
MENTIONED IN THIS ARTICLE
Annapolis
U.S. Army
Academy
Marshall H. Wooldridge
Bethesda
E. Tyler Wooldridge
Pau F. Keefe
Baltimore
Arthur Emerson F Coke
John M. Rourke
Springfield
Michael Joseph Cronin
Red Bank
N.J
James W. Tritz
Humboldt
Navy
Air Force
Marines
Army
Airlines pact sets conditions for 1600 pilots
Airline and representatives of the Airline Pilots Association would not disclose details of the agreement, though it covers 1600 pilots and governs age related conditions.
MENTIONED IN THIS ARTICLE
P. Assn
Mystery Author Slain Outside Brooklyn Flat
New York AP report says author Richard Willis, 51, was shot once in the chest on his Brooklyn doorstep after returning home from a day in the city. A man in a blue suit was seen fleeing the scene. A copy of his novel Morning in Mazatlan lay nearby along with two typewriters and a bank book showing a $10,000 balance.
MENTIONED IN THIS ARTICLE
New York
Jack Wilinski
Mexico
Trotsky
Brooklyn
Richard Willis
Mazatlon
Soviets Content With Welfare Amid Limited Freedoms
Dr. Charles I. Schottland, Brandeis dean, told a National Conference on Social Welfare that Soviets accept limited civil liberties because the state provides food clothing housing and medical care. He cited extensive social security and welfare services and voluntary work among pensioners and elderly in homes.
MENTIONED IN THIS ARTICLE
San Francisco
U.S
Schottland
National Conference On Social Welfare
Monkeys Able and Baker Fly to Space Press Conference
Able and Baker, famed space monkeys, completed a 15 minute suborbital flight aboard a Jupiter missile from Cape Canaveral. They endured 9 minutes of weightlessness and hot re-entry, with nose cone recovery by Navy vessels near Antigua. Their successful test supports future human Mercury missions.
MENTIONED IN THIS ARTICLE
del Wich
Narya
Cape Canaveral
Fla
Atlantic
Antigua
Able
Baker
Sien Od
Rico
Willington
Earth
United States
Hollywood
Fuzzy
Space
Hewlett Hopes Legislature Can Adjourn By June 10
Raleigh AP A House Speaker Hewlett aims to adjourn the General Assembly by June 10 with key work on appropriations revenue bills and a rewritten constitution. Some expect June 13 as the end. committees push to clear backlogged measures including a Study Commission on government reorganization and a nine member regulatory panel for commercial fishing. The Senate approved a point system for habitual traffic violators and the House sent a speeding penalty bill with a $50 minimum fine.
MENTIONED IN THIS ARTICLE
Raleigh
Addison Hewlett
General Assembly
Hewlett
Luther Hamilton
Carteret
James Simpkins
Craven
State Conservation and Development Department
Lunsford Crew
Halifax
Senate
House
Motor Vehicles Department
Memorial Day Honors for Five Major American Wars
Memorial Day observances across the nation will honor veterans from five major wars with ceremonies at cemeteries and battlefields. Arlington National Cemetery will host services with remarks by Sumner G. Whittier, and Honolulu plans a Navy service aboard the wrecked Arizona, where 1,102 crew remain entombed.
MENTIONED IN THIS ARTICLE
America
Pacific
Hawaii
Alaska
Rindge
N.H
Daughters of the Confederacy
Daughters of Union Veterans
Congress
Arlington Natal Cemetery
Sumner G. Whittier
Honolulu
U.S. Navy
Arizona
Pearl Harbor
Milk Price Fixing Bill Introduced In North Carolina
RALEIGH AP Some 41 House members introduced a bill to empower the State Milk Commission to fix minimum prices at retail wholesale or farm levels in emergencies The move follows plans by a large grocery chain to build its own milk plant to cut prices The bill aims to prevent price wars while the emergency lasts and ends when the emergency ends supporting dairy health and the economy of North Carolina.
MENTIONED IN THIS ARTICLE
Raleigh
State Milk Commission
Milk Commission
Commission
State
Grange
Oral L. Yates
Hay Wholesale
North Carolina
Teamster Official Indicted On Nassau County Racketeering Charges
A high ranking Teamsters leader and a dozen other men were indicted by a Nassau County grand jury for conspiracy in a Long Island jukebox industry racket. John J. O Rourke, an international vice president, was among those arrested and later released on bail at the Garden City Hotel. The investigation aims to yield 15 total indictments with most defendants arrested soon after the charges were issued.
MENTIONED IN THIS ARTICLE
Mineola
N.Y
Teamsters Union
Long Island
New York City
Teamsters
John J. O'Rourke
Teamsters’ Joint Council 16
Has
Big Four ministers review Geneva talks after sky conference
The United States and Soviet Union along with Britain and France held a high level air meeting en route to Geneva to discuss German problems East-West tensions and a possible summit. The four ministers agreed to resume talks at 5 p.m. local time at Sir Selwyn Lloyd’s villa with plans for further private discussions.
MENTIONED IN THIS ARTICLE
Russia
Andrei Gromyko
Geneva
Washington
Dulles
Berlin
Selwyn Lloyd
U.S. Air Force
Christian A. Herter
Andrei A. Gromyko
Lloyd
France
Maurice Couve de Murville
Cointrin
Herter
Gromyko
Andrew H. Berding
Eisenhower
John Foster Dulles
Sec
Boeing 707 Claims Long Distance Flight Record to Rome
A Boeing 707 landed in Rome claiming a new distance record for commercial jets. From Seattle the aircraft flew about 5800 miles to Rome, beating the Soviet Moscow to Khabarovsk record. On board were 40 passengers including Boeing president William M. Allen and flight test chief Tex Johnston.
MENTIONED IN THIS ARTICLE
Rome
Seattle
Wash
Soviet Union
Moscow
Khabarovsk
Siberia
Boeing Airplane Co
William M. Allen
Also Mentioned on This Page
Federal Reserve Board
Gulf Coast
Weather Bureau
Airlines
Able and
THE
Associated Press
Teamster
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