New York Stocks Rally On War News And Defense Demand
Steels and aircrafts led the market with gains though end results were mixed as Wall Street absorbed war developments and a presidential request for over a billion dollars in defense funds. Key leaders included U S Steel Bethlehem United Aircraft Glenn Martin and Du Pont with mixed gains across other industrials and bonds, while Kansas City and Chicago markets showed varied activity in hogs cattle and grain.
MENTIONED IN THIS ARTICLE
New York
Flanders
Wall Street
Congress
U.S. Steel
Bethlehem
Youngstown Sheet
United Aircraft
Glenn Martin
Sperry
du Pont
Allied Chemical
Sears Roebuck
Anaconda
Texas Corp
N. Y
Shipbuilding and Electric Boat
Santa Fe
N. Y. Central
Pennylvania
Southern Pacific Rae
U. S. Rubber
International Harvester
Standard Oil
N. J
Philip Morris
U. S. Gypsum
Bitter Fighting Across Flanders and Dunkerque Assault
Allied and German forces clash along the western front with heavy fighting near Dunkerque as British and French troops retreat to ports. Berlin claims French pockets dissolved while Italy may enter the war. Evacuations continue, air support tightens, and calls for airplanes grow louder as the battle extends toward Paris.
MENTIONED IN THIS ARTICLE
Western Front
Paris
England
Flanders
Dunkerque
Associated Press
Yser Canal
Cassel
Lile
Berlin
Italy
Adolf Hitler
France
London
Prioux
Lord Gort
Channel
Calais
Dover
English
Britain
Germany
von Ribbentrop
Tax Bill Aims May Delay Congress Countdown
President administration leaders abandon hope for early adjournment as Morgenthau testifies on a revenue measure. House Ways and Means chairman Doughton says a later revision of tax laws may come. Estimates seek $656 million annual tax yield to cancel a $3 billion debt limit increase.
MENTIONED IN THIS ARTICLE
Federal Reserve Banks
Morgenthau
Doughton
D-Nc
House
Ways and Means Committee
Coughton
Tax hike proposals discussed to fund defense program
Legislators debated new revenue measures including a 10 percent rise in corporate and individual income taxes due next March and larger increases in excise taxes. Coughton's plan envisioned broader levies on whisky, wine, and beer as part of the defense funding package with many favoring a $4,000,000,000 target for new taxes.
MENTIONED IN THIS ARTICLE
Coughton
Also Mentioned on This Page
Belgium
von Bulow-Schwante
Somme-Aisne
Kansas City Livestock
Kansas City
USDA
Chicago
Plymouth Rock
White Rock
Plymouth Rocks
Boston
Texas
Chicago Grain
Wirraaadl
J. S. Bonds
Treasury
Fed Farm
NEW York Cotton
Jly
New Orleans
NEW
Pt EE Ee
Eeu Ieee
Gmek & RR
T&s PF
Beatrice
St Cess Uh
Curtin
Eastman Kodak
SN Weis Ao
Peestone T & FR
Is. i
Sk Ee Sds
Kennecott
Lockheed Airc
Monte Ward
Ksuwsas
PPS
Ohio
Park
Utah
Asds
Phelps Dodge
Prigittes
DGG
Bia
Ed Cote
AM Oko Acus
Reming Bane x2
Reynolds Tob
Reynolds
Studebaker Corp
Uae
U S Indus Alco
U S Pipe & Fdy
U S
S&s
Vanad Corp
Warner Bros Pic West UN Tel
Westgh Air Br
West Bl & Mile
Uoohweeth
New York Wool
CURB
Alum Co Am
Bliss
E W
Carrier Corp
Cities Service
el Bond & Sh
Fairchild Av
Ford Met Ltd
Hecla Min
Humble Oil
Niag Hud
Rustl I & S&s
Poperinghe
Hitler
Washington
Reclamation
John C. Page
Chavez
D-Nm
Boulder Dam
Reclamation Bureau
New Mexico
San Juan Rio Chama Transmountain
Page
Colorado River
Arizona
California
Nevada
Wyoming
Colorado
Salt Lake City
Elton Cooley
Denver
American Trucking Association
U. S
Barkley
D-Ky
Rayburn
D-Tex
B.C
A. B.C. Krusette Prints
Red Cross
Kadettes
Doors Boy
Service
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