02 Dec 1961
Page 1
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Newspaper
Middletown Journal
Location
Middletown, Ohio, United States of America
Date
Dec 02, 1961
Page
1
The Federal Reserve Board and FDIC authorize banks to offer savers 4 percent on $93 billion of deposits starting January 1. The higher cap applies to time and savings deposits of a year or longer, with 6 to 12 month funds at 3.5 percent, while shorter deposits remain unchanged.
Walter M. Harvey a 52 year old bearded recluse appeared in Municipal Court to face a vagrancy charge. He defended himself arguing he had studied the vagrancy laws in anticipation of being picked up. Judge Donald Barbeau freed him and praised his courtroom presentation as better than some lawyers.
FBI agents arrest Benedict, Joseph and other Chilla family members in Whiting Indiana on charges of embezzling at least $1 million from Liberty Savings & Loan. An undercover ledge concealed deposits since 1939, with funds moved to cover withdrawals. Bond set at $5,000 each as case heads to federal grand jury.
President Kennedy and Defense Secretary McNamara plan to ask Congress for funds to start tooling up for Nike Zeus anti missile production. The decision follows recent test successes and Soviet activity, aiming to accelerate deployment of an anti missile defense around key U.S. cities and bases. Estimates put overall costs between 8 and 15 billion dollars.
At United Nations, Washington and Moscow opened the China debate. Stevenson warned the fate of the UN hinges on Peiping's bid, denouncing Chinese Communists and linking admission to a threat to Formosa and the Republic of China. The Soviets fired back with a forceful reply, signaling broader backing for Peiping.
Leopoldville Congo resumes diplomatic relations with the Soviet Union Poland and Czechoslovakia after Adoula’s government reiterates nonalignment Western diplomats see no shift toward communism. Diplomats from the three communist nations previously served without official status while Gizenga headed a rival regime.
Dayton officials say City Transit Co may run buses with supervisory help if contract talks stall. Vice President William W. Owen said plans could start if unions refuse material concessions, aiming to lessen holiday disruption and community losses.
East German communists warned the United States against any show of strength on the 110 mile autobahn linking West Berlin with West Germany. Neues Deutschland criticized U S troop moves as unnecessary and said the autobahn is the GDR's property and cannot be used at will.
Lt. Edward M. Methot of the Air National Guard stayed with his aflame F100 Super Sabre during a routine flight from Niagara Falls Air Base. He steered toward an unpopulated gorge, ejected seconds before crash, and landed unharmed in mud near a highway abutment after avoiding homes and a bridge framework.
If a fellow starts out to borrow trouble he will find out that his credit is good.
Federal grand jury indicted the Communist Party USA for failing to register as a Soviet agent under the Subversive Activities Control Act. The 12 count charge cites missed deadlines in 1950 and potential fines of up to 10,000 dollars per day and prison for officials or members, with about 10 000 members believed in the United States. Attorney generals Kennedy and party lawyers commented on the case and ongoing legal actions.
An AP report from Minneapolis says a family relocating received a van load packing kit that included a banana left on the kitchen sink a pail of garbage and a dead cat. The delivery reflected the phrase pack everything in the family's transition to a new home.
Fidel Castro stated on television that he absolutely believes in Marxism and will lead Cuba toward communism. He described himself as a Marxist Leninist and called socialism a world reality that defeats imperialism. He urged studying experiences in building the world’s first Communist society.
Fidel Castro, quipping that the world moves toward communism, says there will be no communism in Cuba within three years. He contrasts this with his earlier anti communist stance after seizing power on January 1, 1959, and credits Lenin and Marxist theory for shaping his revolutionary movement.
Dominican armed forces chief Gen Pedro Rodriguez Echavarria said Fidel Castro’s regime trains 1800 to 2000 Central Americans in three Cuba Sierra Maestra camps for an invasion of the Dominican Republic less than 200 miles from Cuban shores. He warned of potential military moves as strikes in the capital ease, civilians injured by blasts, and a curfew imposed amid protests.
At Cape Canaveral Florida AP reports Atlas and Polaris missiles delivering important test results. The Polaris test flew over 1000 miles from a land pad and relayed data on warhead components. The Atlas test covered 5000 miles to its target and released 32 capsules with reactive elements.
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