10 Jan 1955
Page 1
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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Jan 10, 1955
Page
1
A report notes President asks authority to reduce tariffs, signaling a possible shift in trade policy. The brief outlines the move within broader economic discussions and potential domestic impact.
Lt Norman K Donahoe and wife Roni Marie, a 17 month old Greek orphan, face a diaper shortage as their Navy transport plane forced down at Port Lyautey, Morocco due to weather. The crew races to reach Patuxent Md with supplies, as the couple awaits relocation after January 3rd.
President Eisenhower asked Congress to extend the Reciprocal Trade Act for three years with authority to cut tariffs up to 15 percent. He urged new tax breaks for U S firms investing abroad and supported customs simplification. The plan aims to strengthen free world economic security against Communist aggression and to raise living standards.
Taipei dispatch reports Red China launched the heaviest air assault in five years on the Tachen Islands near Formosa. About 300 bombs dropped from 100 planes in four raids. Nationalist officials held emergency talks as civilians were killed or wounded. military losses were unconfirmed.
U.N. Secretary General Dag Hammarskjold concluded talks with Red China's Premier Chou En Lai on the fate of 11 imprisoned American fliers. A final joint communique did not disclose any outcome.
A young mother kept her newborn baby’s body in a suitcase for over a year. The decomposed infant was found in a trailer home in Lorain County. Dorothy Shipe and husband Robert, 28, formerly lived there and are in custody in Cumberland, Maryland. Deputies traced the case from a trailer repossession and hospital records. the coroner’s examination confirmed full development of the infant.
New York stocks rose strongly as the market recovered from last week’s pullback. Big early buys highlighted gains include New York Central up 37 cents on 25,000 shares and Pennsylvania Railroad up 50 cents on 15,000 shares. Boeing, Bethlehem Steel, Republic Steel, US Steel, Barber Oil, General Motors and General Electric also advanced. the ticker lagged behind floor trades after opening.
Two gunmen entered Jack Keen’s crossroad store at Ralites 82 and 14 and demanded cash. They pulled revolvers when Keen reached for chewing gum, forcing him to surrender $260 before fleeing. No injuries reported. Local authorities investigate the robbery.
The Colson Corporation of Elyria becomes a wholly owned subsidiary of F L Jacobs Co Detroit. Colson will keep Elyria and Somerville Mass plants. Pritzker will remain operating head and retain management. Jacobs to provide working capital and fund a long range expansion with new products in 1935. Colson, maker of wheel goods, had 14 million dollars in annual sales and eight plants, mainly in Michigan.
A passenger train derailed near Sao Cristovao, Brazil, killing about 40 people and injuring 87 as it ran off tracks late Sunday night. The Eastern Brazilian Railway train from Aracai Wall Water to Bahia left the rails near Santa De Barra, following a separate fatal crash Tuesday that killed six and wounded 70.
Washington report says the Senate Investigations subcommittee warned that Communists have successfully infiltrated defense industries where they can access vital military information. The finding highlights concerns over security and the need for stronger screening and countermeasures in defense contracting and plant operations.
The McCarthy led group recommends Northeastern policy and cites Cold War fears. It notes snow flurries, temperature ranges from 22 to 39, and a canceled subcommittee meeting. The report draws on 1953-55 hearings where 48 witnesses testified, 24 defense plant employees were affected.
Ohio State freshman Thomas Keith Brown 18 of Midale Ridge Road was killed in a car crash near Cambridge on Rt 3131 after failing to negotiate a curve. Four other freshmen, including Floyd Warren 18, were hospitalized with serious injuries. funeral for Brown set for First Methodist Church at 2 p.m. tomorrow.
Highlights of President Eisenhower's address call for a three year extension of the Reciprocal Trade Act with up to 15 percent tariff reductions. He asks new tax concessions for U.S. firms abroad and more use of tax treaties to promote dollar flows. The message also urges approval of U.S. membership in a proposed International Finance Corp and discusses travel duties and economic policy. A separate obituary notes the death of a high school band member with funeral arrangements led by Dr. Earl R. Wenderson.
A proposal emphasizes U S responsibility to provide practical and scientific know how to underdeveloped regions. It calls for continued technical cooperation programs. Trade Fairs seeks funds to extend the International Trade Fair program to promote the free enterprise system. Customs backs further simplification, streamlined procedures, and better import valuation standards.
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