Savers and Borrowers Affected by Rate Rise
The rise in interest rates affects savers and borrowers as thrift institutions bid higher for deposits while lenders face higher borrowing costs after the Fed raised its discount rate to 4 percent. Savers may earn more if they leave funds with lenders. some yields have reached 5 percent. Banks, mutuals, and savings institutions compete to attract deposits as bond issues anticipate higher rates.
MENTIONED IN THIS ARTICLE
New York
Federal Reserve Board
Fed
Mutual Savings Banks
Savings and Loan Associations
Wiese Aboard Enterprise Off Vietnam War Patrol
Seaman Apprentice Myril T. Wiese Jr. of Muscatine serves aboard the USS Enterprise off Vietnam as the nuclear powered carrier engaged in air strikes against the Viet Cong. The Enterprise and Bainbridge recently completed an 11 day 16 0 mile transit to the Western Pacific, marking first nuclear powered ships to separate with the Seventh Fleet. The move signals transfer of four atomic powered surface ships to the Pacific Fleet, with Long Beach and Truxton to follow in 1956. Meanwhile, Fed actions affect savings and certificate of deposit rates, pushing higher ceilings on CDs for large banks and inviting smaller banks to enter with nonnegotiable instruments for individuals.
MENTIONED IN THIS ARTICLE
Myril T. Wiese Jr
Myril T. Wiese Sr
Jinn , St., Muscatine
Enterprise
Viet Nam
South
Bainbridge
Big E
Norfolk
Western Pacific
Seventh Fleet
Navy
Long Beach
Truxton
Earl Jarvis Appointed To Wilton Planning Panel
Wilton Mayor Richard Buroker appointed Earl Jarvis to fill the unexpired term of Harold Walther on the Planning and Zoning Commission after Walther resigned to operate a business in another town. The town approved amendments to the budget and purchased outside water meter attachments for installation by residents at $11 each, with town installation. Readers may contact the town clerk to arrange installation. A building permit was issued to C J Davies for a supermarket at Fourth and Maurer Streets.
MENTIONED IN THIS ARTICLE
Wilton
Earl Jarvis
Richard Buroker
Harold Walther
Planning and Zoning Commission
Walther
C. J. Davies
Fourth
Maurer Streets
Also Mentioned on This Page
Sam Dawson
AP Business News
Wiese
Viet. Nam
Sid
Neu Wigley
Buskens
Wilson
Tra Prem
Migures
Rockies
Plains
Lakes Area
New England
Gulf Coast
Carolinas
Ohio Valley
Mississippi Valley
Clark
Anywhere
Sistor TV
M &S
General Electric
Frice
Crow Radio and
East Second Street
Dial
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