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Newspaper
Long Beach Press Telegram
Location
Long Beach, California, United States of America
Date
Jun 11, 1950
Page
2
New York June 10 AP A $25 billion bull market expansion drives stock growth from 62 to 87 billion on NYSE since 1948. Experts note profits near record highs, inflation hedges, and broad investor participation, with confidence amid continued business strength.
Washington AP reports a second upward revision of 1950 planned spending on new plant and equipment. Outlays for the first nine months total about 12.7 billion dollars, six percent below 1949, with the SE C and Commerce Department predicting the year will be substantially higher than earlier forecasts.
Cambridge, June 10. Norman R. Morrow-Tait files for divorce alleging misconduct with Michael Townsend 26, co respondent. Richarda Morrow-Tait 26, former model, once circled the globe in a single engine plane with Townsend and others, finishing in August 1949 at Croydon after a year of travel and trials. The couple has a second child since.
Dr. Calvert Dedrick of the U S Census Bureau said half the population of the Americas has been counted this year in the first hemisphere census. The tally projected at about 325 million with gains over early estimates. Brazil Haiti and the Dominican Republic begin counts in July and August.
Federal Judge Pierson Heil sentences Herman Otto Walter after counterfeit bill is found in his pants pocket during hearing. Secret Service confirms the note as the target bill. Walter receives three years in prison per probation department recommendation.
NEW YORK June 10 Mrs Belle Benchley 67 director of the San Diego Zoo returned from Europe with a pair of baby Belgian Congo gorillas and other rare animals. The mountain gorillas white rhinoceros and an okapi should be on the way to the San Diego Zoo within a comparatively short time to arrive next spring according to city and zoo officials.
A mixed terrier named Mutt won the “typical dog” title at the Southern California Humane Society event held at 2150 Cowles Street with about 200 spectators. Owner Bob Worthley, 14, of 274 Barclay Street, celebrated as Brnckle’s accomplishment drew praise. Second place went to a pacific coast accented ribbon winner Sissy, and third honored Dane Bernable.
Washington reports the Marshall Plan nations have industrial output 24 percent higher than prewar levels with gains in steel coal and electric power. Agricultural harvests should match 1938 but per capita food will be about 10 percent lower due to population growth. France Italy Turkey show improved prospects while Western Europe’s April output lagged March with mixed gains and Britain remains 52 percent above 1938.
Twenty three Honolulu firemen battled a massive interior blaze that destroyed the Castile and Conke Terminals Building in downtown Honolulu. The fire burned five hours before containment. Ammunition stored in the basement fueled the flames and investigators noted the building housed one of the city’s largest firms.
Washington June 10 American policy shaped largely by Secretary of State Dean Acheson praised for founding the Truman Doctrine the Marshall Plan and NATO era programs while facing criticism over alleged Soviet ties and the Alger Hiss controversy. Acheson’s rise from Harvard to Treasury to State is recounted with notes on his stance toward China Spain and Russia and on his clothing and persona.
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