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Newspaper
Press Telegram
Location
Long Beach, California, United States of America
Date
Apr 19, 1966
Page
4
Los Angeles reports that Diebold Inc and Litton Industries plan a merger subject to board approvals. The proposed deal would exchange 0.43 shares of Litton convertible preferred stock for each Diebold common share.
Washington reports rising American prosperity complicates the Johnson administration plan to end the 1966 balance of payments deficit. Treasury Secretary Fowler warns of risks from Viet Nam War and a shrinking trade surplus. higher foreign borrowing and spending abroad may widen the gap. Experts note sensitivity of imports to GNP rises and possible tax on tourism is unlikely.
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