Heavy trading rallies give way to calls for tax cuts
United States stocks rose late with big gains in leading issues as traders buffered by heavy volume anticipated policy shifts. Standard Oil of New Jersey, AT&T, and US Steel posted notable climbs while General Motors and DuPont lagged. Washington officials including Luther Hodges and Douglas Dillon discussed tax cuts to spur growth, signaling possible acceleration of tax reform despite the market's sharp dip.
MENTIONED IN THIS ARTICLE
Jesse Bogue
UPI
New York
Standard of
New Jersey
American Telephone and Telegraph
U.S. Steel
General Motors
Bethehem Steel
Sears Roebuck
New York Stock Exchange
American Stock Exchange
Europe
Canada
Western Europe
Japan
Secretary of Commerce
Washington
Commerce
Luther H. Hodges
Hodges
Treasury Department
Local Stockholders Remain Calm Amid Market Drop
Beckley investors, led by stockbroker Joseph X Fazio, report steady activity with many buyers and no wholesale selling. He notes over 50 calls for market opinions and advises clients to sit tight and buy more, predicting a long term rebound despite possible near term dips.
MENTIONED IN THIS ARTICLE
Beckley
Joseph X Fazio
Fazio
Estes case swamps baseball in national pastime role
Reporter Dick West notes that interest in the Estes investigation rivals baseball as America’s pastime. Rep. Fountain cites a large roster of FBI agents Senate investigators and other officials plus many reporters, with his committee expanding staff for hearings and a flood of calls. He predicts Estes may become a storied figure in political probes.
MENTIONED IN THIS ARTICLE
Dick West Washington
UPI
America
Billie Sol Estes
L. H. Fountain
FBI
Senate
Agriculture Department
Attorney General
Texas
Internal Revenue Service
North Carolina Democrat
Estes
Fountain
House
Florence P. Dwyer
New Jersey
Ex-Beckleyan Family Hurt as Oklahoma Twister Hits Deal City
A former Beckley resident Mrs William Dunford and her children William Jr 6 Keith 5 and Peggy 4 were injured when a tornado demolished their Deal City Oklahoma home Friday. Mrs Horwath, mother of Mrs Dunford shielded the children between a wall and a refrigerator. The husband S Sgt Dunford was away on Air Force duty at the time. The family may stay in Beckley while the home is rebuilt Deal City has about 400 residents.
MENTIONED IN THIS ARTICLE
Sgt
Dunford
Air Force Base
Beckley
Deal City
West Virginia Weather Forecast Update
Partly cloudy this afternoon with highs in the 70s in the east and west portions. Scattered thundershowers tonight in the west, lows in the 60s. Wednesday brings showers and scattered thunderstorms, slightly warmer. Beckley highs near 70s, lows around 60. Oak Hill yesterday high 82, low 59. River gauge updates mention new Hinton gauge at 3.5 ft and river conditions noted as normal to muddy.
MENTIONED IN THIS ARTICLE
Vts
Beckley
Oak Hill High
Hinton
Estes case hearings reveal accountant signed statement without checks
Federal hearings in the Estes case show an accountant admitted signing Estes financial worth without verification and destroying the sources. The matter was referred to the Institute of Certified Public Accountants for investigation. Astronaut M Scott Carpenter returned to Boulder for a celebratory reception and parade at the University of Colorado stadium. An Air Force C 133 Cargo Master plane missing since Sunday prompts ongoing air sea search for clues. Primary elections occur in Alabama Florida and Kentucky with governor nominees congressmen and senatorial candidates on the ballot. Salt poisoning deaths at Binghamton General Hospital ruled accidental with nurse Colvin facing suspension, hospital weighing reinstatement decisions.
MENTIONED IN THIS ARTICLE
Billie Sol Estes
S. R. Smith
Agricultural Marketing Service
House
Texas
Estes
Institute of Certified Public Accountants
M. Scott Carpenter
Boulder
Colo
University of Colorado
Air Force
Dover
Del
Lajes
Azores
Danny Hawkins
Fairmont
W. Va
Alabama
Florida
Kentucky
Binghamton
N. Y
Senate OKs 1.5 Billion Works Bill for Public Needs
The Senate approved an emergency 1.5 billion public works program in a party line vote. The measure, praised by Democrats as a direct response to federal spending, now goes to the House where a separate 900 million works bill has cleared its committee and awaits rules approval.
MENTIONED IN THIS ARTICLE
Washington
UPI
Senate
House
House Public Works Committee
Rules Committee
Kennedy
Ind. Firm High Bidder For Morgantown Plant
Ko jvalchick Salvage Co of Indiana Pennsylvania submitted an apparent high bid of 1 171 777 dollars for the Morgantown West Virginia Ordnance Works according to Senator Jennings Randolph Democrat West Virginia The General Services Administration opened bids Monday to sell the former defense plant after a prior attempt failed to attract a satisfactory price.
Right-Of-Way Agents Warned On Interstate Land Deals
Charleston UPI reports West Virginia road commissioner Burl A Sawyers told about 50 state right of way agents to follow government rules in land purchases for the Interstate program. He cited possible irregularities prompting Washington investigators from the Blatnik subcommittee to examine rights of way as a key focus. The subcommittee planned a July session after the holiday to review West Virginia’s portion of the project.
MENTIONED IN THIS ARTICLE
Charleston
UPI
Burl A. ‘Sawyers
Sawyers
Blatnik
Washington
West Virginia
John A. Blatnik
D-Minn
Supreme Court Upholds State Income Tax Ruling
Charleston news reports the State Supreme Court upheld the 1961 state income tax law, rejecting claims it limited legislative power. In a note, President Judge Harlan Calhoun said the opinion was prepared by Judge Given before his death, with publication following.
MENTIONED IN THIS ARTICLE
Supreme Court
Charleston
UPI
State Supreme Court
Leslie E. Shaemeg
Legi
Harlan Calhoun
Given
Soviets Reneges On War Condemnation At Disarmament Conference
At Geneva the Soviet Union rejected a Western draft condemning war propaganda, upsetting the 17 nation disarmament conference. Valerian Zorin announced Moscow’s position, prompting U S Ambassador Arthur Dean to accuse Russia of breaking its word and derailing the session.
MENTIONED IN THIS ARTICLE
Geneva
UPI
Soviet Union
Valerian Zorin
U.S
Arthur H. Dean
Zorin
Russia
Dean
U.S.S.R
Stock Exchange President Comments On Market Plunge
United Press International reports G Keith Funston, president of the New York Stock Exchange, noting the market moved downward as 15 million stockholders faced selling pressure while fewer buyers appeared. In Tennessee, Dr Guy Pinkley described Sgt Alvin C York as tough after an internal hemorrhage, saying more blood may be needed but he was recovering. In England, Lord Morrison praised President Kennedy, saying he liked him and found him energetic and unhindered.
MENTIONED IN THIS ARTICLE
Bill Rush
New York Stock Exchange
New York
San Antonio
Tex
G. Keith Funston
Exchange
A. W. Zelemek
Treasury
Douglas Dillon
Kennedy
Hodges
Congress
Wall Street
Dillon
White House
Busi
United Press International
Jamestown
Tenn
Guy Pinkley
Alvin C. York
Southampton
England
Lord Morrison
Lambeth
Labor Party
United States
Former State Newsman Gels Ariz. Park Post
Rich ard F. Sowers named business manager of Tucson Mountain Park natural history institution succeeding H. B. Castor after 37 years. Sowers formerly ran West Virginia Publishing Co. daily Morgantown papers and held roles at Wetzel Republican and other West Virginia outlets.
MENTIONED IN THIS ARTICLE
Tucson, Ariz
UPI
West Virginia
Richard F. Sowers
Tucson Mountain Park Natural History Institution
Sowers
West Virginia Newspaper Publishing Co
Morgantown
H. B. Castor
West Virginia Publishing Co
Morgantown Dominion News
Morgantown Post
Wetzel Republican
New Martinsville
W. Va
Israel Upholds Eichmann Death Sentence by Supreme Court
The Israeli supreme court confirmed the conviction and death sentence for Adolf Eichmann, the ex-SS officer blamed for the murder of six million Jews. President Ben-Zvi alone could avert the gallows, as Eichmann showed little emotion during the 70-page unanimous ruling.
MENTIONED IN THIS ARTICLE
Jerusalem
Israel
UPI
Israeli Supreme Court
Adolf Eichmann
Itzhak Ben-Zvi
Eichmann
Eich
Gainer Named Chairman of Folk Arts for Centennial
West Virginia University professor Patrick Gainer, who organized the 1950 State Folk Festival at Glenville and led it for a decade, is named chairman of the West Virginia Centennial Commission Folk Arts Committee. A Parkersburg native, he presides over the West Virginia Folklore Society and directs the annual Mountain State Folk Festival in Beckley.
MENTIONED IN THIS ARTICLE
Charleston
UPI
West Virginia University
Patrick Gainer
Glenville
West Virginia Centennial Commission
Gainer
West Virginia Folklore Society
Beck
Parkersburg
Glenville State College
New Camp Creek Supervisor Lantz Begins Duty
Robert Lantz age 23 was named superintendent of Camp Creek State Forest replacing Paul Smithson who resigned for a U S Forestry Service post in Parsons Lantz a Charleston native and West Virginia University forestry graduate moved from the Department of Natural Resources service where he served as county forester for Clay and Braxton He and his wife Ginny and two daughters Kim and Kelly now reside in the superintendent's home The forest draws visitors to its trout stream stocked by the state and by the Mercer County Anglers Club which runs a hatchery The camp has 12 campsites about 80 picnic tables and a two mile hiking trail to be completed with trees and shrubs set for nature study Camp Creek State Forest lies off Routes 19 21 mid way between Beckley and Prince Entrance marked clearly
MENTIONED IN THIS ARTICLE
Robert Lantz
Camp Creek State’ Forest
Paul Smithson
U. S. Forestry Service
Parsons
Lantz
Charleston
West Virginia University College of Agriculture, Forestry and Home Economics
J. M. Huber Co
Department of Natural ‘Resources Service
Ester
Clay and Braxton
Sutton
Ginny
Kim
Kelly
Forest
Camp Creek State Forest
Mericer County Anglers Club
Beckley and
Prince
Sharp Decline Incompatible with Bright Business Tone
A mixed economic update shows strong employment at 67 million with unemployment at 3.9 million, and rising personal income, while stock losses spark partisan attacks. Industrial output is up 1 point to 116, and the consumer price index edges higher. Pittsburgh steel production hits a low, while Detroit auto output nears year highs but lacks a typical spring surge.
MENTIONED IN THIS ARTICLE
United Press International
United States
Washington
Pittsburgh
University of Pittsburgh Bureau of Business Research
Automotive News Magazine
Detroit
Foreign Mart Plummets Too
Europe reels from Wall Street plunge as Paris Frankfurt and Zurich markets dive. London blue chips slip while dollar shares fall up to seven points. Swiss and German stocks slide with Daimler Benz Siemens and VW dropping significantly.
MENTIONED IN THIS ARTICLE
London
UPI
Europe
Wall Street
Paris
Frankfurt
Duesseldorf
Zurich
Imperial Chemical
Courtaulds
Scotch
London Exchange
Financial Times
Union Bank of Switzerland
Swiss Credit Bank
Statistical Bureau
Daimler-Benz
Siemens Electric
Volkswagen
Four fall to death from 26th floor scaffold
Four window cleaners on a moving scaffold on the 26th floor of the Equitable Life Assurance Building in midtown Manhattan plunged to their deaths. Three died instantly and a fourth succumbed en route to a hospital as police recorded the accident at Sixth Avenue and Bialet Street.
MENTIONED IN THIS ARTICLE
New York
UPS
Equitable Life Assurance
Manhattan
Sixth Ave
Bilet St
Also Mentioned on This Page
Wall
General Dynamics
North American
Dow-Jones
Merck
Kennecott
Coca-Cola
Lockheed
Vendo
Santa Fe
Inspiration Copper
Mesabi Trust
Perkin-Elmer
First National
William J. Eaton
Okla
Twister
Beckleyan
Calvin E. Chandler
Paula
St. Petersburg
Fila
Ish
I Beckley
Beckley Veterans Administration Hospital
Chandler
Beckleyans
James A. Pace
Beckley VA Hospital
Gregory
Ind
Wood Circuit Court
Gels Ariz. Park Post
Centennial
New Camp Creek
Foreign Mart
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