European Stars And Stripes (Newspaper) - May 29, 1962, Darmstadt, Hesse The tars and stripes tuesday i pevgqu1le aides going to parliament to defend actions i ml3icrisis Over of a _ T a a is Orpi the government up reported. L. 11 West Berlin police said a Man _ of about 30 was caught by the Volos tried to reach the. Communist Wall bordering the americans a c t o r in the Neu District no escape a wounded would be refugee is dragged off to an armoured car by East German Volos after being shot while attempt ing to swim a canal from East to West Berlin. The refugee later died. It was one of three recent incidents involving Volos firing1 on refugees. United press International photo ticker tape sets record for lateness new York a the Speed ticker tape of the new York Stock Exchange tagged 69 minutes behind the Pace of floor transactions monday setting a record for lateness amid a Sharp Smehoff. The time lag More than doubled the previous record of 34 minutes set May 27, 1933, and equalled last May 14, the tape quickly fell behind the Pace of floor orders at the open ing Bell and trailed All Day with the lateness building up gradually. The present ticker tape system was installed in 1930. Its slower predecessor fel1 hours behind trans actions in the crash of 1929. Time lapse Flor need the lateness of the tape is calculated by the time elapsing from the arrival of a trading slip fro the Exchange door in the fifth floor ticker room Anil when the trans action appears on she tape. Girl operators punch the Price and number of shares of each transaction onto perforated tap which when transmitted causes the letters and figures to appear on the tape. -. If transactions pile up either be cause of extremely heavy trading or a glut of Small orders the tape s Speed of 500 characters a minute cannot keep up with the volume. Kennedy birthday to be family fete Washington Cupi president1 Kennedy celebrates his 45th birth Day anniversary tues Day in appear enl Good health and involved in Battles ranging from tree shaded Capito Rhill to the Jungles of South East Asia he planned a quiet Celebration Ata Tai Glori Ora estate near Skiddle Burg ,., Surro tided by members of the Kennedy Cian. Guests at the -dinner1 party include the Robert Kennedy the Sargent Sjef Drivers and1 his sister mrs. Jean Smith Yone of the Jnore significant aspects of his birthday was that .elective.-, tuesday the president will Cynie into control of a Large a Totsoff of to 3te personal Fortune in Liichi Hefti Rajeen estimated to be when his father. Joseph a. Ken Neily set1 up a Trust fund for the president and his Brothers and Sisters some years ago provision " Vas that die f beneficiaries would come into gradual control of the Money heavy Selling sweeps Stock Market continued from Page i who saw billions of dollars wiped away from Stock values. It reminded some in Wai Street of another Black Day Black tuesday oct. 29, 1s29the most spectacular Stock Market crash in history. I what has been described by some Wall Street experts As a panic Artong investors whirled to a Peak of Selling monday. Brokers agreed with the. Presi Dent s top economic adviser Wai Ter Heller who said there were no economic grounds for the disturbing correction now taking place in the Market Many said the dip now constituted Blind Selling which has reached unrealistic pro portions. An emotional upset such As is being experienced often feeds on itself one analyst said. More and More holders become Panicky and sell to protect vanishing prof its or to p r e be n t losses fromn mounting. The movement gains momentum and almost invariably is carried to an extreme Host of factors 4. Brokers blamed the Selling frenzy on a Joist of factors. They said investors were losing Confidence in the Outlook for business some _ feeling that a recession is ahead Iri 19b3. To v the biggest buyers of stocks the Mutual funds pension funds and investment trusts have turned a portion of their holdings into Cash and higher yielding Bonds and Are staying on the sidelines until the Market stabilizes itself. I the Selloff ranked right along with Liat of sept 26. 1955, on news that then president Dwight had suffered a heart attack. On that Day 7.72 million shares were sold. But monday s tape lag was far greater than on that occasion. The tape was jammed not Only by the tremendous volume but Fay the number of Small orders Indi Cating that the Ordinary investor was getting rid of his stocks. As the Day wore on the tape because of the Lair in the Market ticket tape the closing prices Are not in this edition. Lagged farther and farther behind. Margin Calis were taking their toll of people who had borrowed Money to buy stocks. The current margin requirement is a Down payment of 70 per cent Cash. Wit Many stocks having lost 30 per cent or More from their 1962 highs lenders were calling for More Money to cover the Purchase Stock. If it was t forthcoming they sold the Slock. Nearly every major Market group was littered with 2 to 4 Point losses in individual issues and among the utilities the foods and some miscellaneous stocks de Clines ran to 7 Points and Over. In the steels most losses were limited from fractions to about ,.,, said editorially Der to fight violence Ontl is sigh should the state sus Independence of the ,� Republican can agree to Tuiai France s supreme Appeal it he court of Cassa t i Ort. Is petted to hand Down a in next in today on a request b?3haud s lawyers for a Reti decisions also were await requests for new trials was terrorists also under sen of deaths Albert Dove car a Claude Piegts government spokesmen
