Friday, Apr. 07, 1961
BULL MARKET pushed stock trading in March to 118,034,886 shares on New York Stock Exchange, a record for March and biggest volume since July 1933. American Stock Exchange trading also reached new high of 63,370,985 shares.
BIGGEST TAX BITE in world is in West Germany, where taxes take 34% of gross national product, v. 29% in Great Britain, 26% in U.S. But a new British study shows top-bracket earners in Germany keep 47% of earnings, v. only 9% in U.S.
2,000-M.P.H. JETLINER will be developed by Government. President Kennedy asked Congress for $12 million for use by Federal Aviation Agency in studying plans for new plane, marking first time Government has ever undertaken development of a commercial aircraft.
JAPAN'S TEXTILE EXPORTS to the U.S. fell 11.2% last year, largely because of the Japanese voluntary quota system (to offset objections from pressed U.S. textile producers) and competition from other nations for U.S. market.
UNIFIED SPACE PROGRAM for a satellite communications system may be authorized by FCC, A.T. & T., RCA, G.E. and International Telephone & Telegraph want to experiment, but FCC is investigating whether they should form a combine.
WITHHOLDING TAX from interest and dividend payments is being considered by the Treasury because of the failure of its campaign to get taxpayers to voluntarily report their interest and dividend income. One out of three understate their income, says Treasury.
U.S. SUGAR FARMERS lost bid to get Congress to give them a larger share of Cuba's revoked quota. Lawmakers recommended extra sugar come from Western Hemisphere nations buying U.S. produce.
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