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This newspaper page contains 6 articles. Subscribers can read the full text of each article.
Newspaper
Independent
Location
Long Beach, California, United States of America
Date
Jul 16, 1957
Page
5
Iranian authorities dismissed reports that a Soviet fishing boat sank in the Caspian Sea with 270 Russian sailors aboard. The rumor claimed the vessel struck a rock south of Baku, but officials said they had no knowledge to support such claims.
An FHA official indicated that down payments on government insured home loans are unlikely to be reduced for now. Norman Mason, FHA Commissioner, may decide, but advisers warn that lowering down payments could worsen inflation and tighten credit. The new Housing Act allows 3 percent down on the first 10,000, 15 percent on the next 5,000, and 30 percent on the remainder up to 20,000. current rules are 3 percent on the first 9,000 and 25 percent on the rest.
Senate debate on Eisenhower monetary commission centers on Humphrey testimony and finance policy. Fulbright accuses the panel of leaning Humphrey, cites 14 days of testimony. Capehart questions urgency and calls for concrete legislation to avoid depression risks.
House Democrats summon Budget Director Percival Brundage for questioning on President Eisenhower's order to cut federal spending by two billion dollars. The issue centers on a directive affecting AEC output and the timing of tax-cut claims, with Brundage to testify behind closed doors. Cooperation to be asked about the secrecy of the order and its political implications.
Des Moines bus drivers sold newspapers to morning commuters as the Des Moines Register launched in special racks aboard 100 city buses. The sale commission will be shared equally between drivers and the bus company.
West Germany reports East Germany has about 504 500 men under arms as the All German Affairs Minister discusses armed forces and security in Berlin amid Cold War tensions.
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