Market Slump Deepens as GM and Kennedy Blow Investor Confidence
New York stocks suffered five sharp breaks this week with $25 billion erased in value. GM’s secondary offering and President Kennedy’s wage price stance damaged confidence, triggering margin calls and heavy selling. The Dow slipped with the S and P 500 at 62.65, the lowest since February 1961.
MENTIONED IN THIS ARTICLE
New York
UPI
General Motors
Kennedy
G. M
United Auto Workers
Standard & Poor
Tax Collectors Convene in Sarasota for three day convention
Florida’s 67 county tax collectors gather in Sarasota for a three day convention at Field's Colony Beach Resort Longboat Key with Miss Charlie Hagerman as host. The program includes panels on motor vehicle laws audits and office procedures plus exhibits and a fashion show. Secretary of State Tom Adams will speak and install new officers at the Tuesday banquet.
MENTIONED IN THIS ARTICLE
Florida
Charlie Hagerman
Sarasota County
Ton
Field
Colony Beach Resort
Longboat Key
Sea Grape
Colony Resort
Florida Association of Tax Collectors
E. Wayne Geiger
Sun Cove Springs
Sarasota
St. Armands Circle
Tom Adams
Association
Polk County
Ray Clements
Geiger
Adams
Steel Man And President Set Examples
President Kennedy and steelman Roger Blough promote government industry cooperation. Kennedy sent an emissary to the Business Council weekend session in Hot Springs Virginia to unveil a plan for up to 1.25 billion dollars in tax relief via liberalized depreciation rules. Blough called the Treasury order, due soon, an important step to restore business confidence and funds for new plant equipment investment.
MENTIONED IN THIS ARTICLE
Hot Springs
Kennedy
Roger Blough
The
Business Council
Blough
White House
U.S. Steel Corp
Treasury
Subtle Hints in Style From Critics on Screen Manners
Critics in New York discuss covert cues a man uses to show disapproval of a woman’s outfit. They compare a stylish man to one without a tie and note lingering stereotypes about the distaff audience.
MENTIONED IN THIS ARTICLE
New York
Cape Score: Two successes five failures in missile tests
Cape Canaveral reports two successful firings and five failures at the Atlantic missiles test center this week. The Minuteman and Polaris tests succeeded, while Atlas Centaur and Anna suffered critical second stage failures.
MENTIONED IN THIS ARTICLE
Cape Canaveral
UPI
Atlantic’ Missiles Test Center
Air Force
Minuteman
Navy
Polaris
Michigan constitutional convention adopts new draft
After seven months and about three million words of debate delegates approve a proposed Michigan constitution to replace the 54 year old document. Ratification at the polls is required and funding exceeded two million dollars. Democrats and labor leaders oppose adoption and disputes arise over ballot timing and reapportionment rules.
MENTIONED IN THIS ARTICLE
Lansing
Mich
Michigan
Democratic Party
State Senate
Fingerprinting For Brokers is Advocated
Stock broker Harold L. Bache urged fingerprinting all brokerage job applicants to prevent hiding past misconduct. As SEC hearings on salesmen and practices proceed in Seattle, Bache also called for disclosure of financing, a $50,000 minimum capital, and tougher NASD membership tests for new firms.
MENTIONED IN THIS ARTICLE
Washington
Harold L. Bache
Bache
Bache & Co
Seattle
Securities and Exchange Commission
Asst Labor Secretary Resigns Over Gift From Estes
Assistant Secretary of Labor Jerry R. Holleman resigns after admitting acceptance of a $1,000 gift from Texas financier Billie Sol Estes. Holleman says the gift was personal and not connected to his duties, but resignation is accepted. Estes, under investigation by congressional committees and grand juries, built a vast business via government programs.
MENTIONED IN THIS ARTICLE
Harry Kelly Washington
Billie Sol Estes
Kennedy
Jerry R. Holleman
Texas
Holleman
Estes
Aeie Holleman
Goldberg
Labor
Arthur J. Goldberg
Texas Court of Inquiry
Agriculture Department
Pachy-Derby brings chaos to Orange Coast campus
At Fullerton California the first intercollegiate elephant race ended with 15 elephants and 10,000 spectators. Kinney of Long Beach State College won the heavyweights race while Harvard received a sweepstakes trophy. Orange County State College plans a sequel next year as campus cleanup resumes and trophies honor beauty, showmanship, independence, figure, courage and wisdom.
MENTIONED IN THIS ARTICLE
Orange County State College
Fullerton
Calif
Sheba
UPI
Peanuts
Kinney
Long Beach State College
Armed Forces Day Observance Opens at Andrews AFB
The Armed Forces Day observance opened at Andrews Air Force Base Maryland with displays of arms and personnel. The event attracts thousands of civilian visitors over the next two days and highlights the military’s strength for peace.
MENTIONED IN THIS ARTICLE
Washington
Andrews Air Force Base
Maryland
Franco Cancels Madrid Trip Amid Spain Labor Crisis
General Franco remains in Madrid after canceling a Northern Spain vacation to tackle mounting labor unrest. Cabinet session drafts wage readjustments to curb strikes by 70,000 miners and workers, with protests in Barcelona where 21 demonstrators were arrested.
MENTIONED IN THIS ARTICLE
Madrid
Spain
Francisco Franco
Franco
Barcelona
Asturias
Bayfront Center Plan Aims to Transform Sarasota’s Waterfront
Architect Jack West unveiled the $13 million Bayfront Center design at a Kiwanis luncheon, envisioning a two block Bayfront complex with a high rise, a 250-room hotel, offices, retail, an auditorium, and extensive parking. He argued the project should create a new market and attract blue chip investors, boosting taxes and property values while making Sarasota more livable. City Manager Kenneth Thompson praised the plan as West’s best.
MENTIONED IN THIS ARTICLE
Sarasota
Bayfront
Jack West
West
Kiwanis Club of
Bayfront Center
Manatee
Kenneth Thompson
Rebel Troop Buildup Anticipated in Laos Crisis
In Vientiane Prince Boun Oum’s government fears a communist rebel push to seize Luang Prabang and Vientiane. Soviet transport planes rush troops and arms to bases at Muong Sing and Van Vieng as King Savang Vathana appeals for peace. The United States weighs boosted Southeast Asia force posture as 800 Laotian government troops and 500 civilians flee toward Thailand amid border tensions.
MENTIONED IN THIS ARTICLE
Vientiane
Laos
Boun Oum
Southeast Asia
Defense Ministry
Luang Prabang
Muong Sing
van Vieng
Savang Vathana
National Assembly
Thailand
United States
Kennedy
Washington
U.S
Mekong
Sarit Thanarit
Kennedy summons top policymakers on Laos crisis
President Kennedy called in Secretary of State Rusk, Secretary of Defense McNamara, and Gen. Lemnitzer amid plans to bolster U S military power in Southeast Asia. Naval forces may be sent as fighting escalates between Laos government troops and Communist backed Pathet Lao rebels.
MENTIONED IN THIS ARTICLE
Washington
Kennedy
U.S
Southeast Asia
Laos
White House
Dean Rusk
Roberts
McNamara
Lyman L. Lemnitzer
Joint Chiefs of Staff
South Gate Webber Center Business and Parking Plan
Real estate listing notes parking sidewalk water and sewer terms totaling 2260 dollars, directing readers to consult their broker for details. The item presents a property or development project tied to the South Gate Webber Center and emphasizes professional sites and business space.
MENTIONED IN THIS ARTICLE
South Gate Webber Center
Also Mentioned on This Page
Wednday
General Assembly of
Presbyterian Church of the U
UPI Telephoto
Cape
Civilian
Space Agency
Anna
Asst
Harvard
Orange Coast College
Orange County
Orange County State
Dumbo Downs
Armed Forces
Inside Today
Amusements Church
Real Lake
Trip
Bilgao
Nlley
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