European Stars And Stripes (Newspaper) - May 30, 1962, Darmstadt, Hesse European edition rom j i 81 55 pc ios i a i j -. Army Navy air Force unofficial publication of the . Armed Force to Europe North Africa and lha Middle East stateside Static Washington when bus Driver Fred Mckenney noticed n Man picking the pocket of one of his passengers he drove to the i3th precinct police Sta Tion i i Vonkeil for service. The was 5 cents Dally 10 Tinli sunday wednesday May 30, 1962 Pace Market rally a Afao tight photograph to Scott in in Israel s Seine court rejected Adol Tiann Appeal n g p i n s i the i sentence tuesday in a Stern Lent upholding the Fonejr is Onel s conviction for the role Hei the nazi massacre of jews a supremo Turt verdict left 56-year-Ojd onetime i chief Ofstad i notorious jewish of Section with Only one Eastace to escape the Gallows a Appeal to president Izhak i Lor ,.v somber verdict was read ats of minutes past 8 . Elch an wearing thes dark suit anted tie he wore throughout his month a trial last year stared at the five judges on the i1s the judgment mrs de reported Eichmann Lias i authorize his defense petition the israeli f,111-1", highly---1 1 revealed this Bert ser a Ufi used to obtain bin Suh met -0 be "rt"7""" to is or n a Fri Arkansas ton its Vacaron l a Iuse a Flea Ijiro Waras act to buoy mart., Hodges asks Washington a Secretary of Commerce Luther ii. Hodge recommended tuesday that the administration adopt positive action rather than words to help counter the Jolt to Confidence caused by slumping Stock prices. Hodges recommendation cameras Treasury seere Ary a Douglas Dillon told newsmen that govern ment leaders saw no justification for tie Palic Selling Wimch Trig gered monday s Slock Market plunge. D / Dillon spoke after a High level economic conference at the White told a news conference he believes two Steps should be taken i would favor an1 announce ment As quickly As possible that we ought to have a tax overhaul lie said. Elaborating he expressed Ope that such Arf overhaul would include a net reduction in Bot individual t and corporate income taxes f the Treasury should make a very Early Ami Uncein ent of its revision of depreciation schedules Taftt govern tax write offs on Busl Ness investment in Plant and equip ment that tttedepreciationsch3dules would be forthcoming Fin late june or a. I i at i i quickly As they Are available with. I to "3 ,1 Ofin i out waiting until the whole pack age is Complete Dillon talking to reporters aftera White House conscience on National economic issues 3ait week said there had been no discussion of the possibility of cutting taxes in 1062. And it was understood thai Dillon feels such action be justified simply in response to movements in Stock prices. As for Hodges suggestion that revised depreciation schedules be announced piecemeal a Treasury spokesman said this would be impossible because of the nature of the revisions Dillon emerged from the White House talk tuesday to Tell news men we Don t see any reason for panic Selling in the Stock Market. Key economic and financial advisers to the administration had been summoned o the conference with president Kennedy. Hodges said both the areas in which he suggested action were outside his Field. But lie said he Henri made his vines known to the Treasury. In discussing a possible tax rut lie commented i think those thugs Aie and he said a continual Ion Jit the Market disturbance might make it Wise to seek congressional Allon on tax Cut this year instead of wait ing until 19g3 As originally planned. The Commerce chief emphasis lat the outset that he knows very Little if anything about the however he said he does have possible explanation for the Price said a lot of people bought stocks a a hedge against inflation and the steel Price and other developments dampened their expectations of rising prices. With inflation tears waning he said Stock prices were too High in re lation to economic realities and therefore have been was not far off the line font. On Page cot. V but orders put volume near record new York a greatest sessions in the history of the new York Stock Exchange Many of the bluest of the Blue chips close higher tuesday some with Sharp gains. At the close the nigh Speed ticker tape was a record two hours and 23 minutes late surpassing the Prev up us record of 69 min u Tes of because at a record lug in to hellish up col Stork Market ticker tape the run Siniff Price Are Notin this edition. Monday this was caused by huge volume perhaps the second or third highest in history. The aver Ages will not be known until after the tape clears. Flash prices at the close include american Telephone monday s most Active Stock and Anil Point loser up 5% to 108h radio corporation of America up 2% to50vi Union Carbide up m to 94 Ford motor up 1% to 82 Standar Doil new Jersey up 4% to 50k International business machines up 17 to 378 . Steel up 3 to 53.?s, Ond general motors up a Ito .50%. Brokers on the never York Stockb change floor said they expected the Dow Jones 30 industrials to show about a 10-Potnt Rise. One thing was certain buying in the afternoon was Strong enough to counter one of the worst Selloff since the Black Days of 1d29. Buy orders have poured inform institutions and funds All across the country said walstonnnd.co., one of the top brokerage firms a mass of bargain Hunters resending in orders to buy collapsed stocks the firm added. The Avalanche of Selling at the opening and during the morning made it look he it might finishing similar fashion to 1929, but the wave of buying orders signalled a Market of different character. The Market will close to Trad ing wednesday As the United states observes memorial pay some of the major buyers of the flood stocks being unloaded by lottery investors appeared to Bethe big Mutual funds Bent on acquiring stocks they Consi Jer Mohave been the victims of emotional Selling. Investors planning corp. Of America one of the nation s cont. On Page 8�r col. S who s buying who s Selling Sec curious Washington a these purities and Exchange commission is trying to find put who is buying and Selling stocks during the cur raft feverish trading a chairman William a Gary said tuesday the commission expect std ,e some information on the principal sources of buying and Sel Thig activities in about two weeks. He told the House Commerce committee the commission was try ing to assemble the facts through an informal study of the Market rather than a full scale i Vestiga was before the committee to talk about a proposed Legisla Tive change in the organization of the Sec but found the members much More interested in discuss ing the spectacular drop in Stock a Market prices during the last two weeks. He declined to offer any exp Tan. Ton for the Market s behaviour. 1 i1
