Bank of England Hikes Rate to 3 Per Cent in London
The Bank of England raised its interest rate to 3 percent, the highest in 36 years, aiming to curb inflation and stop sterling devaluation. The move tightens credit across Britain, with banks likely to raise lending costs and limit consumer spending. Chancellor Thorneycroft says the goal is to protect the pound and reduce imports while boosting exports and national savings. Public spending will be restrained and private borrowing limited to defend sterling and balance the economy. Bond prices on the London Stock Exchange fell as the rate increase shocked the business community.
MENTIONED IN THIS ARTICLE
London
Bank of England
Britain
Peter Thorney
Pricar
Thorneycroft
Thorneycraft
London Stock Exchange
Soviet Propaganda Push Details Missile Capabilities
U S officials say Moscow is running a broad propaganda campaign to publicize claims that new surface to air missiles can destroy targets. In 72 hours Radio Moscow aired the boast about intercontinental missiles and the Soviet air force chief Vershinin is quoted predicting massive casualties in a hydrogen war. American authorities see the push as strategic bluff rather than a sign of imminent war.
MENTIONED IN THIS ARTICLE
Washington
Russie/it
United States
Moscow
Radio Moscow
Konstantin A. Vershinin
Vershinin
Vershnin
Russia
Pravda
Georggi Zhukov
Voershiin
Soviet Union
Kremlin
Middle East
Gains Made in Telephone Strike Talks
Federal mediator Walter Maggiolo said talks would resume with full committees from labor and management to end the nationwide strike of 23,000 telephone equipment installers. The strike begins Monday in 44 states and the District of Columbia, with Maine New Hampshire Wisconsin Montana unaffected. Western Electric and the union remain deadlocked over wages and other issues.
MENTIONED IN THIS ARTICLE
York
Walter Ajat Maggiolo
Maggiolo
States
District of Columbia
Maine
New Hampshire
Winiwat
Montana
Western Electric
Ant
American Telephone & Telegraph Co
Snark Squadron Formed for Long Range Strike
Washington reports America's first Snark squadron of 500 officers and men is finishing training in California and will join Strategic Air Command before year end. The pilotless bomber carries a nuclear warhead 5,000 miles at near sound speed, with Cape Canaveral tests for training launches. Lt Col Richard W. Beck leads the unit. base assignment to be announced.
MENTIONED IN THIS ARTICLE
Air Force
Washington
America
California
Strategic Air Command
United States
Northrop <Aircraft Co
Hawthorne
Calif
Richard W. Beck
Air Forges
Cape Canaveral
Fla
Jet Pilot Killed in Carrier Crash
Lt. (jg) Donald C. Fitzgerald of San Luis Obispo California was killed Tuesday when his F2H3 Banshee jet fighter crashed into the sea during a landing on the aircraft carrier Kearsarge government officials stated the accident occurred at sea with the pilot not surviving the incident.
MENTIONED IN THIS ARTICLE
Aonglulu 'Cpi
Donald C. Fitzgerald
San Luis’ Obispo
Calif
Kearsarge
Missile test launch at Cape Canaveral sparks fireballs
At Cape Canaveral Florida the Navaho missile fired from a top secret launch complex arced southeastward hitting a fiery takeoff. Newsmen observed two burning balls descend over the Atlantic as the test was described as successful. The Snark and other missiles were also referenced during a busy testing week.
MENTIONED IN THIS ARTICLE
Navaho
Cape Canaveral
Fla
Donald A. A
Quarles
Atlantic
Vanced
Atlantic Ocean
Also Mentioned on This Page
Terry Jones
Portland
Ore
Communications Workers of America
Snarks
West Germany
Florida
Columbia Long Beach
Lakewood Center
Drella
Columbia
Timely Umbrella
Pacific
Long Beach
Pepperwood
Pacific At
Zoo
Huntington Park
This is just the beginning! Our collection holds over 300 years of history, including rare newspapers, obituaries, marriage records, birth records, and so much more—most of which you won’t find anywhere else!