Hodges urges quick tax overhaul to boost stock market
Commerce Secretary Luther Hodges proposed two steps to steady markets after a price slump. He urged a fast tax overhaul, including a net cut in individual and corporate taxes, and a very early, piecemeal tariff depreciation revision to spur business investment. A Treasury spokesman warned revisions cannot be split.
MENTIONED IN THIS ARTICLE
Washington
Secretary of Commerce
Luther H. Hodges
Hodges
The
Treasury
Secretary of the Treasury
Douglas Dillon
Department
White House
Dillon
Hubert H. Humphrey
Dminn
Kennedy
Congressional
Humphrey
Senate
Mike Mansfield
Montana
Stock Expert Faces Market Drop With Calm Resolve
New York AP report on Edwin Posner 71 chair man of the American Stock Exchange who stays calm after Monday’s market fall He vows the bear trend will run its course and prices will rebound someday Posner plans to step down as president after Labor Day naming Edwin Etherington 37 to succeed him Finance veteran Eldon Grimm cites domino effect from loan calls as a driver of the sell-off and global impact across London Paris and Tokyo
MENTIONED IN THIS ARTICLE
New York
American Stock Exchange
Edwin Posner
American Exchange
Edwin Etherington
Etherington
Posner
Eldon Grimm
Walston and Co
Connecticut
London Stock Exchange
Munich
Paris
Zurich
Frankfurt
Japan
Tass
C of C President Appeals to JFK
H Ladd Plumley president of the U S Chamber of Commerce urges White House leadership to rebuild business confidence. He blames the stock market plunge on profit decline and Kennedy steel price rollback, warns against administered prices, and calls for a vigorous program to restore stability and growth. Memorial Day notice appears at end.
MENTIONED IN THIS ARTICLE
Washington
H. Ladd Plumley
U.S. Chamber of Commerce
White House
Plumley
Kennedy
National Press Club
Turnover In Shares Hits 12 Million In Rally
New York traders watched a late rally lift blue chip stocks after a sharp selloff. Volume surged to about 12 million shares, the highest since 1929, as Dow industrials fell earlier but equities rebounded with gains for AT and T Du Pont U S Steel and Standard Oil. The ticker ran late as investors debated whether the bottom had formed.
MENTIONED IN THIS ARTICLE
AT & T
du Pont
U.S. Steel
Standard Oil
New Jersey
IBM
Wall Street
Reynolds Tobacco
Woolworth
Texaco
Lorillard
Merck
Xerox
Raytheon
General Dynamics
Texas Instruments
Local worker killed after jack slips at Kaw Motors
Charles Lathrom, 27, of 841 Ohio St., died at Lawrence Memorial Hospital from injuries suffered Monday afternoon when a salvage car slipped off a jack and pinned him. He had been removing an emergency brake at Kaw Motors and Salvage Co. The car frame Pinning him near the shoulder crushed his chest. An autopsy will determine exact cause. Lathrom worked for Kaw Motors since September last year. Funeral services set for Thursday with burial at Humboldt. Survivors include mother Lydia Lathrom, daughter Dorita, four sisters, three brothers, and several relatives.
MENTIONED IN THIS ARTICLE
Charles Lathrom
Ohio St
Lawrence Memorial Hospital
Kaw Motors and Salvage Co
N. 2Nd St
Lathrom
Salvage Company
Lydia Lathrom
Dorita Lathrom
California
Alta Beggers
Charlotte Bryan
Ruby Ford
Lawrence
Fern Spanier
Atchison
Wiles
Clovis and
Noble
Rainfall Adds To Monthly Total In Lawrence Area
A nightly storm dropped 1.26 inches in Lawrence, bringing the month’s total to 3.34 inches and swelling Kansas streams to flood levels. Severe flooding affected Frankfort and other communities, with the Black Vermilion River displacing residents and rivers across the state rising. though some sites reported higher totals, the Kaw and Wakarusa showed only minor increases.
MENTIONED IN THIS ARTICLE
Lawrence
Kansas
Topeka
Frankfort
Business
Cross
Rock
Soldier
Pottawatomie
Jackson
Republican
Lower Smoky Hill
Kaw
Wakarusa
U.S
Kansas University
Lawrence investors stay calm as market declines
Lawrence brokerage leaders report little panicky selling despite a sharp market drop. They cite a re adjustment to realistic pricing and cash based buying by local investors. They warn about dangers but see value in quality stocks and expect eventual support from regulators.
MENTIONED IN THIS ARTICLE
George Hedrick
Bill Terrell
Barret Fitch North & Co
Lawrence
Terrell
Hedrick
Securities Exchange Commission
Federal Reserve Board
Which Style Will Catch On in the U S Economy
The AP reports a market with a plunging neckline contrasts with an economy showing uplift as investors debate what will catch on. Optimists cite rising profits, high employment, and stabilizers while skeptics worry a deeper stock drop could pressure consumers and jobs.
MENTIONED IN THIS ARTICLE
U.S
New York
Graduation Night for Lawrence High School Class of 323
Commencement for 323 Lawrence High School seniors set for 8 p.m. Thursday in Hoch Auditorium on the Kansas University campus. Dr. Robert Meneilly of Village Church Prairie Village to speak on Methuselah. Principal Neal M Wherry and Board chair H Penfield Jones present diplomas. Rt Rev Msgr George Towle to give invocation. Margaret's Cafe West 23rd closes, reopening June 4.
MENTIONED IN THIS ARTICLE
Lawrence High School
Hoch Auditorium
Kansas
KU Commencement Weekend Schedules Busy With Events
Kansas University prepares for its 90th commencement with speeches, diplomas, reunions, and campus activities across Saturday to Monday. Alumni gatherings begin, followed by class reunions, a Mortar Board luncheon, and a prominent State of the University address. The All University Supper and Baccalaureate services cap the weekend, with ROTC commissions and Phi Beta Kappa events shaping the closing day.
MENTIONED IN THIS ARTICLE
Mt. Oread
W. Clarke Wescoe
Kansas Union
Union
Mortar Board
Memorial Stadium
H.A. Yeaper
Salina
U. S. Pacific Fleet
Phi Beta Kappa
John Anderson
Clyde Reed
Weather forecast for Northeast Kansas calls for clearing tonight
Scattered thunderstorms pass early then clear. Tonight will be upper 50s with a low expected. Highs Wednesday reach the lower 80s as the region stays warm and dry. Union Cab 013-2800.
MENTIONED IN THIS ARTICLE
Kansas
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Journal-World
Adv
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JFK
Happy Hal
Walston & Co
New York Stock Exchange
Trend
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Highway Patrol
Dick Krasnicka
Erma L. Jordan
Krasnicka
Journal-World Photo
Jack
George Faler Jr
Kaw Motors
Faler
Rumsey Funeral Home
Humboldt
Worden
Here
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Blaine
Axtell
Onaga
Wakefield
Manhattan
Turtle Creek Dam
Centralia
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Elmo
Ft. Riley
Wamego
White City
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Horton
Sand Springs
Effingham
Enterprise
Herington
Virgil
Hiawatha
Madison
Abilene
Oskaloosa
Eskridge
Neosho Rapids
Osage City
Bushong
Rossville
Belleville
Emporia
Lyndon
Sam Dawson
AP Business News
Tors
LHS
Margaret's Cafe
West 23Rd
Alumni Board
Alumni Association Board of Directors
Alvin McCoy
Citef
Endowment Association Trustees
Gold Medal Club
Strong Hall
University
Fraser Auditorium
Call Union Cab
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