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Newspaper
Middletown Journal
Location
Middletown, Ohio, United States of America
Date
May 14, 1957
Page
9
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New York report on federal finances shows tight money driving the Treasury to issue short term securities as holders opt for cash rather than new notes. With 75 billion dollars in obligations maturing within a year, Treasury plans possible 2 billion soon and up to 3 billion in July to cover maturing debt. The policy aims to curb inflation, backed by the Federal Reserve and supported by President Eisenhower.
Evangelist Billy Graham will dedicate Madison Square Garden as a place of God in a private ceremony tonight. Tomorrow night in the Garden he will open a six week New York crusade to win the unchurched to Christ. Graham, a 32 year old Baptist preacher from North Carolina, plans to speak at each night meeting in the 18700 seat arena. Reverend Dr John S Bonnell predicted an overflow crowd for the opening address. A loud speaker was set up outside the Garden to handle overflow.
Former President Harry S. Truman predicted foreign aid by the billions will be unnecessary as mushrooming foreign trade grows. He criticized high tariffs urged by oil and cotton interests and credited reciprocal trade agreements with reviving free trade. The 73-year-old Truman spoke at Southern Methodist University about the role presidents play in lowering tariffs.
Kingston Jamaica The first mate of the Russian freighter Hoboznik died in hospital from bullet wounds suffered after leaving Manzanilla Cuba for Leningrad. Valery Hedensky age 34 was aboard and had been unconscious three days. Captain Aleksander Birjukov said the injury was accidental, though crew members offered no details to reporters.
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