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Newspaper
News
Location
Frederick, Maryland, United States of America
Date
Nov 15, 1960
Page
11
Babson treats a shift from the promised golden sixties consumer boom to restrained spending as households save more and delay big buys. He argues inflation is curbed by thrift, not policy, and urges cash reserves before risky bets in real estate or stocks. He notes rising savings, bond rates lifting, and real estate and market funds drawing savings.
London AP reports the Soviet Union on a Monday night announced a new heavy ruble aligned closer to the dollar in international trade with a higher gold content. The state bank will set gold purchases at one ruble per gram from Jan 1 1961 and apply a new rate to trade, excluding the old tourist rate. The decree also notes the gold content and exchange changes as the USSR Council of Ministers acts.
Metropolitan opera star Regine Resnik, who had emergency abdominal surgery on November 1, was discharged from St. Francis Hospital in Poughkeepsie and returned with her husband Harry W. Davis to their New York City home. Resnik, 37, was stricken with an abdominal obstruction while visiting friends in Spring Valley on October 28.
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