FRB Cuts Margin On Stocks In Surprise Move
The Federal Reserve Board cut the margin requirement on stock purchases from 70 to 50 percent effective today, aiming to boost liquidity. The move followed weak December reports on personal income and industrial production, with mixed market reactions and concerns about its lasting impact. Keith Funston of the NYSE praised the measure, while some economists warned of limited or temporary effects.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve Board
Keith Funston
New York Stock Exchange
Funston
Pacific Coast Stock Exchange
San Francisco
Reserve Board
Commerce Department
Federal Reserve
Storm Sweeps East Coast with Heavy Snow and Flooded Ports
A nor'easter battered the Northeast with gale winds and high tides. Fresh snow depths reached 25 inches in Rumford Maine and 20 inches in Caribou while Lebanon New Hampshire logged 18 inches and Albany New York 9. Schools closed in parts of New York state as power lines were knocked down and travel disrupted. Boston area wharves and bridges flooded by high tides with coastal winds up to 40 mph.
MENTIONED IN THIS ARTICLE
West Virginia
Kentucky
Rumford
Maine
Caribout
New Hampshire
Lebanon
Albany
N. Y
New York State
Boston
New England
Weather Update For Miami Valley Light Snow Possible
The Miami Valley may see light snow today and tonight amid cloudy cold conditions. Official forecast calls for a high near 34 and a low around 27 with brief snow flurries. Friday expected to be mostly cloudy with light snow possible and a high near 38. Middletown recorded a 33 degree high yesterday and 26 at 7 am, with 13 inches of snowfall the previous day.
MENTIONED IN THIS ARTICLE
Miami Valley
Middletown
Los Angeles Divorce Rate Tops U S Says Sociologist
Los Angeles County filed 32 563 divorce related suits last year against 38 333 marriage licenses issued with Hollywood figures contributing 26 divorces. Mobility and lenient local norms drive high rates while out of state residency and flexible laws aid separations.
MENTIONED IN THIS ARTICLE
Los Angeles
U.S
Hollywood
Martin H. Neumeyer
University of Southern California
Dutchess the Seeing Eye dog ends noisy Chicago council run
Dutchess, a German shepherd Seeing Eye dog, was retired from Chicago politics after nine years with Alderman Herbert F. Geisler. Her bites and snarls scared constituents, prompting a return to the Seeing Eye Foundation. A new guide dog, Phoebe, attended a council meeting and behaved well.
MENTIONED IN THIS ARTICLE
Chicago
Dutchess
Herbert F. Geisler
Geisler
Seeing Eye Foundation
Morristown
Phoebe
Treasury Chief Opens Door to Possible Tax Cut
Secretary Anderson told the House committee that a tax cut is possible if other measures fail to lift the economy. He argued the nation has basic ingredients for an economic upturn but warned adjustments may be needed to spur activity if forecasts prove wrong. He reiterated support for maintaining current rates on corporate profits and excise taxes on liquor, cigarettes, and cars beyond the wartime-origin status.
MENTIONED IN THIS ARTICLE
Washington
Anderson
U.S
Tax Writing House
Ways and Means Committee
Ex-Con Subdued After Escaping Franklin County Courthouse
Wesley Peery 33 fled through a transom and climbed a courthouse roof before entering the law library. Deputies restrained him after a brief scuffle with librarian Thomas Baker. Judge Myron B. Gessaman set bond at 75000 and ordered return to jail amid possible new charges.
MENTIONED IN THIS ARTICLE
Peery
Law Library
Thomas Baker
Baker
Common Pleas
Myron B. Gessaman
Day Talks With Lloyd
Dag Hammarskjold, the U N Secretary General, arrived by air from New York to confer with Foreign Secretary Selwyn Lloyd on world problems.
MENTIONED IN THIS ARTICLE
London
U.N
Dag Hammarskjold
New York
Selwyn Lloyd
Ike Plans Price Support Cuts To Boost Farm Prosperity
President Eisenhower urged Congress to lower government price supports for major crops and dairy and ease production limits. He outlined 14 points as a progress program to boost farmer incomes and expand markets while aiming for lower consumer food costs. He proposed ending the soil bank’s short term reserve, expanding long term conservation, and adjusting acreage allotments for key crops.
MENTIONED IN THIS ARTICLE
Congress
Eisenhower
Secretary of Agriculture
Ohio Race Narrows Bender Out
Former Ohio senator George H. Bender announced he will not enter the Ohio gubernatorial race to preserve party harmony and will remain as special assistant to Secretary of the Interior Seaton. In a letter to Ohio Republican chairman Ray Bliss, Bender said he does not intend to become a candidate and criticized the party platform as a trap for supporters.
MENTIONED IN THIS ARTICLE
Washington
Ohio
George H. Bender
Ohio Republican
Pess
Secretary of the Interior
Seaton
Bliss
Bender
Driver Declines To Renew License
Fred Olson, an 87 year old salesman with 300000 accident free miles since 1910, declines renewal of his driver license. He writes to the Bureau of Motor Vehicles that he would rather not spoil his record with all those crazy drivers on the road.
MENTIONED IN THIS ARTICLE
Little Falls
Fred Olson
Bureau of Motor Vehicles
Ohio GOP Candidate Comments on Lausche and Senate Control
Bender told newsmen Ohio has one Lausche and the Republicans bear responsibility for Democrats holding the U S Senate. He referred to the 1956 election of governor Frank J. Lausche and said Ben der was the GOP candidate. He dodged questions about ONeill's job performance and possible campaign plans.
MENTIONED IN THIS ARTICLE
Bender
Lausche
Ohio
United States Senate
Senate
Frank J. Lausche
O'Neill
Coal Dust Explosion Injures Forty Miners in France Shaft
A coal dust explosion in a shaft at Montceau les Mines in east central France injures about 40 miners early today. No deaths are reported. Emergency crews work to ventilate the area and assess damage.
MENTIONED IN THIS ARTICLE
Montceau Les Mines
France
Senate to Approve Air Force Emergency Funds Bill
House approved an emergency Air Force funding bill totaling 549.67 million dollars to start bases for intercontinental missiles, disperse bomber bases, and fund a missile warning system. The measure, backed by Stennis, moves toward Senate floor with hearings set for next week.
MENTIONED IN THIS ARTICLE
Washington
Senate
House
Stennis
D-Miss
Senate Armed Services
House Defense Appropriations
Air Force
Secretary of
Defense McElroy
Advanced Research Projects Agency
Farm Plan Meets Cold Reception in Congress
Washington lawmakers from farm states dismissed President Eisenhower's proposal for lower price supports on farm commodities. Senator Ellender called the plan a likelihood of none, while Senator Aiken refused to back the bill citing dairy-farmer squeeze. Rep Halleck praised broader freedom yet warned against withdrawing government help to agriculture. Realistic price supports, he said, remain important.
MENTIONED IN THIS ARTICLE
Washington
Farm States Congress
Eisenhower
Sen
Ellender
D-La
Senate Agriculture
Aiken
Vermont
Administration
Halleck
R-Ind
Chuckle Wife Cartoon Quote About Teachers
The dialogue jokes that school teachers make the best wives. The wife asks why, and the husband suggests it is because they learn to ask questions and stay quiet long enough to hear the answer.
Also Mentioned on This Page
FRB
Crane
Eleevens Suena Ae Valley
Steteneeee
Clifford Schumacher
Sleepy Eye
Minn
Cottonwood
East Coast
THE
Associated Press
Neumeyer
Los Angeles County
East
Columbus
Oregon
Franklin County
Wesley Peery
Day
Lloyd
Ike
Ovida. Martin
Ted W. Brown
Rye
Harry
Truman
Kansas City Municipal
Harry Hershfield
U. S. Grant
Peggy Jane Leigh
Candy
Peggy
Ted F. Leigh
Atlanta
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