Brownwood Bulletin (Brownwood, Tex.), Vol. 62, No. 200, Ed. 1 Tuesday, June 5, 1962 Page: 5 of 12
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e
fail well short of what both gov- । government would tit tght for the
doesn’t buy
4s stil buying
dicted in January
2, That investors can no longer of
rely on inflation to make bad in- meree, Laxd Plumley, was calling
year. It
Congress and the administration now.
are working on measures to give
bi
That idea waned when Kennedy moves.
demanded "a place for the public
could have been obtained in many ing table, in the interest of non-
and
corporation tax rates and an im-
mediate start by the Treasury on
piecemeal issuanee of new depre
change Commission isexpected to
equipment
Hodges was speaking for him-
added to some newly recognized off the Big Board in New York.
ministration sources said, by Ken-
emergency meeting of ht* eco- starting to flood into brokers' of
being
SINKING SPELLS
BROWNWOOD BULLETIN, Tuesday, June 5, 1962---5
Treasury Douglas Dillon, that the
ODDVALUES
KRAFT OIL
Hunt's APRICOTS
WHOLE
%
BIG NO. 272
CAN
C
FOLGER'S
F
3
$
Fresh from
the Country
DOZEN
4 «. 29c
33c
CUBE ICE
Purer Than the Water You Drink
Helpy-Selfy has added this new feature for the convenience of its customers.
| NEAPOUTAN
GIANT BOX
FROZAN
All Flavors
fno”2.
12 GALLON
aET
- -
* pDe,
WHOLE
*s
ONLY
LB.
0./
ALL SPECIAL PRICES IN EFFECT ALL DAY WEDNESDAY THROUGH SATURDAY, JUNE 9th
49c
LB.
ELPY-SELF
A
Wih Each
4
Wo Reserve
TORE
$2.50
TRA-PAK
More on
Dial Ml 3-7313
Wedneedoy
LB.
A
$
wAS
VANDERVGDRIS
WHOLE
A TASTY DISH
A
8//
QUART
BOTTLE
fires That afternoon the market
recouped two-third* of the Mon-
day loss; the next trading day
the Righ to
LimQuantitias
from Kennedy’s battering-ram a*-
sault on the April steel price in- j
Last Monday’s market debacle,
wiping $21 billion of stock values
professionals set the stage for the yer, Clay Moore and Mrs. Elam
market s drop. for a fleecing of Kyzar; custodians. D. S. Smith
| the lambs. There are no such sus and Clay Moore, and lunchroom
ouncil of Economic Advisers.
Substantially everything Hodges
suggested is in the works. The de-
I market’’ began in late 1960, but the tax tall pending in Congress,
on speculation that the return of a. a hurry-up job by the Treasury on
Only one administration voice,
that of Secretary of Commerce
Luther H Hodges, proposed emer- |
gency action. Hodges suggested a:
We Give
Double
IMPERIAL
STAMPS
along with some loophole elosings
they didn’t ask for
spur business investment — this
month or next.
Cuts in corporation tax rates
would mean revived inflation.
morning.
The confernce led. first. to an
The administration does not te- try body knows k. Our advance
vor easing the Federal Reserve to steady and stable and the
ayne
lege,
are
resi-
sket-
and
Fort
facts of economic life. These facts
' were:
purchaser* put up 70 per cent in the reassurance that * wants."
cash The board has indicated it' ■ ——
I Mrs. ,
Tuckers
Streeters, believe the market is dence is unshaken, that investor
heading into a gradual moderate confidence in the stock market
7 7
%
1603
COGGIN AVE.
Qosn"
‘b
25c
59c
49
2020
V J
A
step with an unspectacular busi- industry’s confidence in govern-
diet, will keep on setting records meat will be mended by several
into 1963 '
not even in draft form accelerate both.
But shis to not IM* and ev-
GRADE 'A'
gsxsan
PRICES TOO HIGH
The market’s irregular, acceler-
the costliest stare vestments good and good invest- for prompt White House action
spells for a time. a* profit-takers news profits.
unload shares they bought at bar- By now top administration men
59c
the White House liberalized
it died said—"We do not want to make ■ prompt reduction of
89c
-
1. That the expectation of zoom- nomic high command the next
cases, by leaving the money in inflationary settiements.
savings accounts when he crushed U.S Steel’s price
1.69 CEEEE
can economy was enjoying good
health and better prospects; and
second, to a tentative decision.
non-fat
de foods
r-» cap.
— orange
prutein
4 cereal
la* pre-
including
cos and
the famed "Black Tuesday”
192». -
I can and washing machines. In-
dustry leader* still forecast rec-
ord sales and output and rising:
plant investment.
1°0
prompted Kennedy to call an
Democrat to
ernment and industry had pre- time beta*.
they have sought for 20 years Board’s requirement that stock economy itself wil give busness
nation allowances for industrial pursue its undramatie course The bers of Banes schools staff have
SEC chairman, William L. Cary, been chosen b9 schooi trustees
denied with heat a published re- for the 1962-63 year.
self His views are not shared, ad- port that the commission will Chosen were, bus drivers. Id
probe what the report said were Weems. Lee Brown, N. A. Par.
nedy. Dillon, or the President’s I SEC suspicions that profit-hungry sons, J. B Norris, Coke Saws.
Secretary of the
some tax breaks'
STARLAC Dry Milk
‘ forced liquidation by investors
' who had bought on credit, were
BANGS BBC •—Final mem-
,2
At the same time, the president
the U.S. Chamber of Com-
picions and there will be no such workers, Mrs Myrtle Bodine,
whipped into shape and will come probe. Cary said. supervisor. Mrs. Arda MeGaugh-
out-a $1.25 billion tax boon to Summing up, one administra- ey, Mrs. Fred Leach and N. A.
. lion official commented. ) Parsons.
®Qco,
and possibly prolonged rise. in will be painfully rebuilt, and that ing corporate profits this year— •
“m “* ——j— .—. . . — . — —— the thing which put the specula-
tive bubble on the market boom— announced finding that the Amer-
measure*—already in the works has become a forlorn hope,
—which attest the administra- RECORD HIGH
They expect occasional sinking tion’s avowed aim to bolster busi- Profits are at a record high and
going higher but no boom is in1 intimated by
I sight. Corporations' earnings will.
“nPrqRanne Crhon
advocated by some to stimulate •GIIY> •VIIVV‛
sese Staff Named
5 □> — -ecuriue5 ana E-X- 7, 5
DOG FOOD,
Th shakeout was inevitable boost. That was ample proof Ken
they feel But it got out of hand nedy meant business about hold
when emotional selling, and then ing the wage-price line.
reforms are
39c
I17
and to ail income tax brackets "We are Mt satisfied with bad-
wil he proposed later this ses- new profits ar with our progress
•os. in a mayor tax overhaul bill toward full emplogment. We are
intended for Congress action next taking the measures that shonid
depreciation allow-
)ARMOUR STAR BACON
BARBECUE Lan.opaBorelaLs.
the market situation worse.”
Halleck and- the Senate GOP
leader Sen Everett M. Dirksen
of Illinois, did accuse Kennedy
of proposing ' "confidence-killing"
programs
But while the White House par-
ley went on, the buy-orders were
3 ors 25c
Most Republicans in Congress
held their fire, because—as Rep.
Charles A Halleck of Indiana
Developments since then have
strengthened the White House de-
cision to sit tight, officials said
today.
The average consumer—who I
crease, helped make last Mon
ances, and other reassuring
EDITOES NOTE — The recent gain prices from investors who admit that a deterioration of busi-
tumble of the stock market were scared out. ne** confidence, stemtag partly
frayed nerves and raised vital They consider it most unlikely
questions about the American that list Monday* spectacular
economy. Here, in the first of losses — made up in two day's
four aruicles on “The Market and trading-left any serious doubt day s selloff
the Economy. AP business and and fear in the minds of consu-
geopomie affairs writer Sterling men and business managers
F. Green, answers some of these That remains, however, a chiu-
suestions and considers what ing possibility. If family heads
measures the administration may and corporation heads feel too In- al ing decline began five months
take. ‘ secure to go ahead with planned ago. they point out. for the sim-
The Market aad the Economy purchases ot new can. television pie reason that prices generally--------.---— — ----
"ir“ “ . "i -i “ and were far too high Better yieldeat the labor-management bargain
eFH MRS. TUCKER'S
"Shortening
29c
QUAar 17c
1LB. CAN . 5
STEW MEAT Bonales* and Lean
PORK CHOPS 59c
2-LB. CAN , $
(First of a series of four > 1 sets machinery houses
By STERLING F. GREEN plants, the recovery could be
AP Economic Affairs Writer 1 .plied
WASHINGTON (AP—The Ken- ' ’ ANTIDOTES
nedy administration is watching la that case the administration
closely for afteyeffects of the would respond officials any pri-
stock market vpKsedive but has lately, with the antidotes to re-
filled out any emergency stimu- cession—lax cuts and stepped-up
lanes to shore up business confi- federal spending ‘
dence. But President Kennedy’s mills
Most officials. like most Wall er* believe that consumer conf-
8 QT. SIZE 69c
JFK s Administration Keeps Wary Eye On Stock Market
PICKLES Sour or Dill. Best Maid
BLEACH payw.
meals better. A Kennedy bull He proposed a belated revision of
TOILET TISSUE „
restored it all—and then some preciation
SWEET RELISH , ,
STAEKETTES 2“*. 69c
PINEAPPLE Diamond Crushed ... NO. 300 CAN 19c
L- 2
• 1.m 72
re, 4
23Ak48y
CORN Cream Style Yellow. White Swan ..........303 CAN 17c
29
MILK Evaporated. White Swan. Large Can ....... 2 FOR 25c
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Gage, Larry. Brownwood Bulletin (Brownwood, Tex.), Vol. 62, No. 200, Ed. 1 Tuesday, June 5, 1962, newspaper, June 5, 1962; Brownwood, Texas. (https://texashistory.unt.edu/ark:/67531/metapth1482934/m1/5/: accessed June 26, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting Brownwood Public Library.