European Stars and Stripes (Newspaper) - July 18, 1963, Darmstadt, Hesse                                Army Navy air Force Unotti tool pull Itlen Eli . Arnond ree in Hrabae North Aurlio and in. My Del. Bit volume 22, number 91 d � a. 0 Lay thursday july 18, 1963 drastic Stock Market overhaul recommended by Sec probes Kennedy says he s hopeful on a talks from Fresa dispatches Washington president Kennedy said wednesday he is still hopeful the participating countries in the Moscow talks May reach an agreement on ending nuclear testing. He made the statement at a news conference. Washington a a surprisingly Droit la overhaul of the operation und self policing of the nation s major Slock exchanges we recommended wednesday by securities and Exchange commis Sion Sec . The recommendation Wax in the second Bulky instalment of n two year investigation of the securities markets. The report calling for the out Reghl abolition of floor trading for the personal account of the trader was sent to Congress by Sec 1 chairman William l. Cory without an official endorsement of any of the dozens of specific changes pro posed by the investigation  said the five volume report pictured basically Strong institutions subject to Many specific related Story Page  weaknesses and abuses and re assured investors that this report should not impair Public Confidence n the securities markets but should strengthen Itas suggestions for rising standards Are put into  old practices the 2,100-Page report struck a ancient institutions of the big Hoard the new York Stock Exchange and to a lesser sex Teri of the second ranking Amer ican Stock Exchange by recommending the elimination. In two Steps Over the next in months of floor trading on both exchanges. This is the buying and Selling of stocks by members on the Exchange floor in quest of Quick profits. The in Vest listers held that it has an unstable Long  Stiller Exchange rules to Cor.  what was described As in adequate policing of Stock Spe Mauiu these Are members appointed to manage the trading in specified stocks who Are suppose to stabilise the Market by buying weather my in Tow a. 0.1.mttum. Imp. Hush my 71. M is r ,. ,.�. A u is m n � m is u m u n sum n is ski sfr-58.8 r.1u s 8 Sla  is. S 8 sort a. Praise the shutter at Mew York a Gen Douglas Earthur jokingly says there was an occasion in the korean War when american troops appeared better equipped with cameras than my ammunition. Macarthur made the comment wed indy during a reunion with party Leader. The general described Bun As an old buddy of world War  photographers snapped Thel picture Macarthur said f Ortere was this time in  were pressed or munitions and  son the eve of one of the Battles Sal to the general Gen Johr Walker Johnny have All the troops ammunition and he uld a ask ,. At Selling for their own accounts to counteract violent Price up surges or  report held that specialists activities in the Black monday Market collapse of May 28, 1982. Had no discernible effect in countering the costly slide. It said. A few specialists seemed to contribute to the pounding Down of prices by their Selling but the report did not name them. Consideration of automating discount rat by Federal r Washington a the Federal Reserve Board fired the first gun in a government a 1 d Campaign to Correct a worsening deficit in the nation s balance of payments. The discount rate the interest charged on Loans to member Banks of the Reserve system was raised from 3 to 3i per cent by seven of the 12 Reserve Banks. The others Are expected to follow promptly. Almost simultaneously the White House announced president Kennedy will Send a special Mes Sage to Congress thursday de scribing other measures planned to help Check the outflow of Dol Lars. However no new legislation will be requested the White House  higher Cost of Reserve Bank borrowing will be passed along to commercial borrowers and should bring about a general Rise in the interest yield of Short term credit generally that of 90 Days to a year. Hope to Cheek Drain this it was explained should Check the overseas Drain of Amer ican dollars to european and other countries where Short term in Terest rates Are higher and More attractive to investors seeking Quick profits on their Loose Capi  was not expected to have any appreciable effect on person Loans or instalment buying. Officials said not much can be gained however by a further government agencies. And by now lord. Set 11 50th Sec. There is a Scarcity of ammunition but every Man s got a camera Macarthur and Calwell met the general s Waldorf Astoria  Here was the minister o information during world War and i was the commander of the  Macarthur said. I hold area1 deep affection for him which time cannot  described Macarthur As since George  is to visit Harrisburg a. On Friday. His great Grandfather Daniel Calwell. Was a Perm Ylva la state legislator from ism Calwell will meet president Kenned in Washington next wednes Day the handling of All Odd lot trading on the big Board. This is the let be Fellows Market involving Sale inf less than 100 shares each. This would eliminate the Domina Tion of the Odd lot Market by two arge investment houses decor pct Dor mus and Carlisle & it Toque in who retain the holders of 10per cent of the seats on the new York Stock Exchange to execute the Small transactions. The system com. Of Page 3, col. 1 is raised serve Board most foreign Aid Grants and Loa Sarry buy american us which Equire that the fund be spent the United states. Or. Kennedy s special message thursday the White House uld will detail the measures being Ken to narrow the payments def Cut. The message is expected to be maturing rather than the re verse and probably will serve to it foreign finance ministries and Nanc lers on notice that uie United states has no intention of Ettling the Dollar weaken. The maintenance of foreign Confidence in the Dollar is a key Elf Mem of the problem even though there has been no recent recur rence of speculative raids on the Dollar n foreign Money markets or any big scale Drain on Amerl ican Gold reserves such Ai occurred in i960. Officials Are agreed that the major problem is the outflow of hot Money seeking better earn Ings. The Reserve Board s move at tack i that problem by setting i motion b movement toward higher . Rates on Short term invest cont of Page 24, col. It or. Kennedy said that the going on in a Businesslike was he said it was understood with Russia would have to be approved by the .  also said that it is under stood the ., Britain and Russia Are not negotiating on other subjects just a nuclear test ban. He said that if the discussions Are successful it is Clear they should Lead to wider negotiation with other nations. The three nations now negotiating he said constitute a subcommittee. If they Are successful headed it is important to reach the widest possible number of nations he said the discussions Are currently under Way and should not be complicated by further speculation so he would refuse to answer an questions on the subject. A billion deficit after Reading his Brief formal statement on the talks or. Ken Nedy turned to the nation s fiscal position with another statement saying the budget deficit for the fiscal year just ended was m.2 Bil lion 2.6 billion less than his Esti mate of  news conference High lights civil rights demonstrations the president was asked whether the demonstrations on civil rights and specifically the pro posed March on Washington aug. 38, hamper his efforts to Advance civil rights. Or. Kennedy said that the Waythe Washington March is develop ing with emphasis on peaceful As Sembly it is no lure to we want citizens to come to Washington it they feel they re not is Vang their rights  he said. Things Are different elsewhere As in Cambridge md., he said and cant. Of past a col. Ii Wist German decoration the grand Cross of the order Almerit of the Federal be Dubue of 3rmau with Star and shoulder Scarf it received by Oen Truman h. Landon from Chancellor Konn Adenauer on the general s last visit to Bonak the b8afe commander in chief returns to the United state Thea Mouth for retirement her 19 years service. To 1s Tho first Amadou officer to receive the grand Crom. To la to be Honor with a grand Tattoo by the German air Force in Wiesbaden july 29. Moscow discussions have been  any agreement reached big 3 begin drafting of a ban details states Britain and Russia announced wednesday night that they had made Progress in draft ing some of the provisions of treaty to ban testing of nuclear weapons in the atmosphere outer space and under water this was the first official word that representatives of the big three nuclear Powers Are working definitely on j partial test ban treaty and that they Are Down to the details of  announcement fitted into in formal report persistently circulating Here that the talks have been going  communique said that the negotiators made Progress in rafting some of the provisions of test ban treaty covering test 1nthe atmosphere outer Spac and under water. Views were  on other matters of my Ual  Setalla not Ava Luble precise information we not valuable u to what had been greed upon if anything at All things a gome Welt said a British representative but he declined to go into Delalli. The three delegations not in  Palace. Foreign minister Andrei Gromyko invited the negotiators. Including under Secretary of state aver Ell Harriman and lord Hallahan. British minister of science to Din Ner in the Palace. Apparently the optimism in Bot american and British delegations stemmed from Progress made ingesting at the test ban problem itself. If russian desire Tor a non aggression pact and for an agree ment that will keep nuclear weapons out of German hands still stand a potential barriers the have at least been deferred. Kentucky seeking foreign investors Frankfort. By. A in a attempt to lure Industry the Ken Tucky department of Commerce has published a brochure in German. French and italian texts to inform european manufacturers about the state s Industrial  brochure is being distributed principally by a new York Bank through 1u foreign branches and correspondent Banks in Europe. Stateside Static Binghamton. . A City judge Joseph w. A Worth offered women who had pleaded Euclee of a months in jail or having their Mouths washed with soap. Richard Walicke 11, accused of swearing at women and Francl Perkins a who swore at a policeman chose soap. Two patrolmen meted Ous us punish