Atlas Missed in First Intercontinental Test Blows Up
CAPE CANAVERAL Fla AP a fire belching Atlas missile blew up seconds after launch during what was billed as the first intercontinental range test The 100 ton rocket fell back in a blaze of orange flame and debris after a 4 25 p m EST lift off Convair technicians had prepared 14 months for the 3900 mile attempt The Air Force said approximately 80 seconds after launch the vehicle exploded and destroyed itself The cause of the malfunction was not yet known The event followed three successful Atlas firings before this setback and marked a bitter setback for the program
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Federal Reserve boosts discount rate to two percent
The Federal Reserve Board on Thursday raised its discount rate from 1 4 to 2 percent effectiveBridas. The action, approved by the Board, faces foreign and domestic banks with higher lending costs. Only the Boston Reserve Bank remains at 15 percent. President Eisenhower to view the Cup start in Newport with Mrs. Eisenhower.
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