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Newspaper
Terre Haute Tribune
Location
Terre Haute, Indiana, United States of America
Date
Jun 06, 1962
Page
16
In New York on June 6, talks on tax cuts reemerge as a possible future remedy for the government business rift. Both sides acknowledge deep divisions, stock market jitters, stalled corporate spending, and cautious consumer activity amid Secretary Dillon’s strongest Kennedy era statement yet.
Stocks rise in moderate trading with American and Midwest markets higher. Cotton holds steady while grains show mixed results in Chicago. Hogs surge up to 50 cents, cattle and sheep advance, dressed beef and pork move modestly, with tops and highs noted for each commodity.
The article notes administration plans for broad income tax cuts next year and a major depreciation reform to ease tax write offs for plant and equipment. Roger Blough of U S Steel urges stronger reforms to restore confidence while stock markets wobble and capital spending plans lag expectations.
Ray A. Nusbaum a Walkerton funeral director said he paid 5000 in 1956 to secure acquittal in a reckless homicide case in Lake County Indiana He says he borrowed the money and believes a verdict of innocence was bought The case tied to disbarment proceedings against former Lake County Prosecutor Metro Holovachka and the Indiana Supreme Court disciplinary review.
The Indiana Appellate Court upholds a State Industrial Board ruling granting Loretta L. Roose $30 weekly for 350 weeks after the death of her husband Ernest R. Roose and Wilbur Shaw in a 1954 Decatur plane crash. Roose worked for Keeling & Co. and at the Indianapolis Motor Speedway. Shaw was Speedway president at the time. The couple’s trip to Ann Arbor aimed to discuss a Firestone account for Keeling. A historical note mentions West Point’s authorization in 1802.
Wall St. commentary from the Alexander Hamilton Institute warns against general purchases of common stock. It favors moderate commitments in good issues at depressed levels with attractive yields. Oil Statistics Co. notes near term best buys in large oil firms, while E F Hutton & Co. predicts June will stress fundamentals over hopes, guiding investors toward better values away from glamour issues.
In Washington the ICC examiner's job security recommendations threaten the B and O C and O merger. In Austin Texas Atty Gen Will Wilson says seven of eight East Texas oil wells were drilled illegally. In Detroit May auto sales rise with Chevrolet over one million and Rambler, Chrysler gains. In Atlantic City Senator Smathers says Kennedy is not anti business.
A 24 year old man, Bobby Joe Williams of 1508 Crawford street, was shot in the head near Circle 16 Club at 1200 South Thirteenth Street during an early Wednesday altercation. The bullet grazed the skull and the weapon was not found. Williams refused to identify the assailant. Investigators questioned about a dozen people. no arrests were made. He was hospitalized at St Anthony Hospital.
As the June 7 deadline nears nine candidates from the May 8 primary and school board elections filed expense statements with County Clerk Leonard Conrad. Kenneth M. White listed 130 dollars for cards gas and oil and donations. John S. Handlin reported 99 dollars and 50 cents in expenses. Joseph P. Lowe showed 42 dollars and 70 cents in expenditures. Maurice C. Reynolds had 11 dollars and 50 cents for cards. August R. Montgomery reported 7 dollars and 45 cents for campaign cards. Emil V. Joslin said zero expenses. In school board races Virgil E. Morris spent 20 dollars on donations. Ralph S. McHargue and Burton L. Mains reported no expenses.
A 1962 market update from Francis I du Pont and Co notes sales of 2,470,000 shares at 1 o clock in the Merchants National Bank blog. The fragment references Ayles and June 6 1962 with Eastern time details and trading activity.
The body of Larry McClellan, 24, Delphi High School teacher, was recovered from Lake Freeman by a dragging team Tuesday. He disappeared while swimming from a boat on Monday in Monticello Indiana.
New York June 6 The stock market held substantial gains as the Associated Press index rose 1.90 to 221.60 at noon with industrials up 2.80 and rails up .50. Major stocks advanced including IBM AT&T Chrysler and Ford while Dow Jones Industrial Average climbed 7.03 to 601.99 as trading slowed after a brisk morning rally.
Indianapolis hogs show slow to strong weakness with 1 2 190-225 lb buyers scarce. Chicago hogs 190-290 lb mostly 14 17. Cattle and calves across markets vary from steady to strong, with steers around 25.50 to 27.00 in some lots, heifers 22 to 25, and vealers 25 to 30. Sheep activity limited. Evansville hogs and cattle follow similar trends with modest gains and steady cows. Chicago produce and eggs lists brief price ranges for poultry dairy and eggs.
Salable hogs number 250 with bulk of 6 and various grade hogs priced from 14.50 to 16.25 per hundredweight. Markets quoted 25 cents higher. Grain and feed include wheat at 1.98, corn at 1.07 to 1.09, rye 1.12, soybeans 2.37 to 2.07. Poultry and eggs from Indianapolis dated June 6 report fryers roasters and various egg classes with price ranges listed.
Indianapolis judge Thomas J. Faulconer said camera and radio coverage of trials will become a necessity. He urged amending Canon 35 or revoking it to allow judges to decide on news coverage, citing decorum and fairness as judge’s responsibility.
An organizing meeting for the Wampler for Congress Club is set at 7 30 p m tonight at Wampler Headquarters 826 Wagash avenue. Emma Cole will direct and officers will be elected as volunteers join a 1962 campaign and membership drive aiming for 2000 Vigo County members and district wide action. A 100 person crowd is expected. Loaded dice appear in a Hindu epic about 500 B C.
Twenty Cuban refugee families will leave Thursday morning for new homes in Philadelphia under the government refugee relocation program. Flights funded by the federal government and supported by Philadelphia churches and synagogues aim to relieve pressure from the influx of refugees into south Florida.
Ex General Edmond Jouhaud reportedly secured a 24 hour reprieve from execution at Fresnes Prison amid appeals to end Algeria violence. He urged Secret Army leader Raoul Salan to accept Algeria's independence and disarm the extremists. Debates over clemency continue as De Gaulle weighs mercy. Palmistry in China is claimed to have existed for about five thousand years.
About 450000 clerks shopmen telegraphers and other non-operating railroad workers will gain 10.28 cents an hour under a one year wage pact. The increase retroactive to Feb 1 and May 1 follows a presidential fact finding board report as unions and carriers negotiated in Chicago.
Mrs. Jack Cline, Eighteenth District Chairman of the Department of Veterans Service, Illinois Federation of Women’s Clubs, won second place in the state for outstanding achievement in veterans service. This marks the club’s second consecutive honor, after a first place district award last year.
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