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Newspaper
Ottawa Herald
Location
Ottawa, Kansas, United States of America
Date
Mar 10, 1955
Page
5
The article explains how the reserve bank tools, especially the discount rate and reserve requirements, influence money and credit. It describes how changing these levers can curb inflation, stabilize prices, and prevent excessive stock speculation after the 1929 crash. It notes the board’s moves to ease credit in downturns and tighten margins to curb dangerous credit use.
Washington reports outline how the Federal Reserve uses tools beyond the reserve rate such as open market operations to balance credit. It explains the aim to curb inflation or stimulate growth while avoiding abrupt shifts in banks’ ability to lend and household credit.
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Romuald Spasowski appointed Communist Poland ambassador to the United States, succeeding Jozef Winiewicz, in a London announcement. In Tokyo Pvt Charles Broxmeyer, 6 feet 4, 225 pounds, was struck by a small Japanese taxi. windshield smashed fender torn grill damaged wheels awry. minor facial bruise. In London the House of Commons heard the Malay government has banned Communist sponsored tea parties citing student indoctrination concerns.
The Army set seven posts as permanent home stations for 16 divisions under Operation Gyroscope to rotate units between home and overseas posts. Ft. Riley will host the 1st and 1st Infantry divisions. other sites include Lewis Washington Ord California Hood Texas Campbell Kentucky Benning Georgia and Bragg North Carolina. Rotation begins with the 10th Infantry Division at Ft. Riley replacing the 1st Infantry in Wurzburg Germany. Ft. Riley general school to close May 1 with major activities moved to other installations.
New York reports DNC chairman Paul M. M. Buller says Mrs. Eisenhower’s health could decide whether President Eisenhower seeks a second term. Butler told newsmen Tuesday he doubts Eisenhower would run again due to a personal situation in the household.
The UAW demands a guaranteed 40 hour pay for seniority work and nonwork weeks. Separate talks with General Motors and Ford start soon, with formal negotiations set for early April as the union seeks an annual wage guarantee amid a looming showdown in the auto sector.
Sam S. Canino, 39, of Poria Illinois, was ordered to serve five years to life for second degree murder in the death of his wife Evelyn, 20, near Long Beach California on October 31, 1954. The judge ruled the slaying not premeditated and reduced the sentence from first degree murder following motions for a new trial. The defense argued Canino planned no murder and sought a lesser penalty, while prosecutors had urged a harsher outcome. The case centered on an alleged reconciliation attempt when the weapon was displayed in his right hand.
Military police captured Donald L. Hedrick 20 in a wooded area about six miles from Fort Leavenworth a few hours after he escaped from the U S Disciplinary Barracks Hedrick of Kansas City Missouri disappeared while on a work detail, according to the Army.
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