20 Nov 1955
Page 1
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Newspaper
Monroe Morning World
Location
Monroe, Louisiana, United States of America
Date
Nov 20, 1955
Page
1
Uncle Sam tightens credit to fight inflation amid a booming economy. Federal Reserve banks raise rediscount rates, raising borrowing costs for banks and lenders. GMAC lifts interest charges as consumer demand and stock market activity surge, signaling a strong but cooling pace.
Officers and directors of 26 Production Credit associations in Alabama Mississippi and Louisiana gather in New Orleans for a two day meeting. The program highlights plans for farmers to gain ownership of the Federal Intermediate Credit Bank and the Production Credit Corporation with a presentation by Robert B Toomey Harold Miles and Hodge of Andalusia.
Senate leader Lyndon B. Johnson charged at Southwest Texas State College homecoming that Moscow acted at Geneva to weaken the United States by Ike s illness. He noted Molotov rejected peace proposals while he recovers from a heart attack at his ranch near Johnson City. Johnson spoke at a Whitney dinner plan and predicted foreign policy will stay nonpartisan in 1956 elections.
Senate Agriculture Committee Chairman Allen Ellender unveiled concepts for a new farm bill blending flexible and rigid price supports with crop and acreage controls. He said supports would range from 90 to 100 percent for high quality goods, with soil bank acreage curbs to curb surpluses. The plan aims to reflect grass roots farm views and quell cost price squeeze concerns.
The pilot and co pilot of the non scheduled DC 4 say a runaway Number 4 prop prevented feathering causing drag and loss of lift. They deny overloading and weather as causes and describe their efforts to feather the engine during the crash in a Seattle suburb that killed 27 of 74 aboard. National aviation experts arrived to probe the wreckage.
Washington reports the Commerce Department will drop a group of non strategic goods from export license controls to Iron Curtain countries, though embargoes on Communist China and North Korea remain. Goods likely to be eased include tobacco hides edible tallow pencil slats wool rags and certain chemicals.
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