Winona State University OpenRiver Winona Daily News Winona City Newspapers 5-28-1962 Winona Daily News Winona Daily News Follow this and additional works at: https://openriver.winona.edu/winonadailynews Recommended Citation Winona Daily News, "Winona Daily News" (1962). Winona Daily News. 284. https://openriver.winona.edu/winonadailynews/284 This Newspaper is brought to you for free and open access by the Winona City Newspapers at OpenRiver. It has been accepted for inclusion in Winona Daily News by an authorized administrator of OpenRiver. For more information, please contact [email protected]. Considerable Cloijdiness Tonight And Tuesday Paul Rasmussen Survives DFL Blue Chip Stocks Opposition By JACK MACKAY DULUTH , Minn. (AP) - Minne- sota Democratic - Farmer-Labor- ites have reached into traditionally Republican Olmsted County for the Yield to Pressure No. 2 man on the ticket they likely will present to voters in Novem- ber. State Sen. A. M. Keith of Ro- Run New Selling chester—better known as "Sandy" Kelson to Nation Waiting —was endorsed for lieutenant gov- ernor by the DFL convention Sun- day. Some observers looked on it Drive Hits as a move to tighten party ranks For Senate that bent a bit when Keith was For Market to active in an attempt to draft Atty. Gen. Walter Mondale to run for N.Y. Market governor. In Wisconsin By HARVEY BREUSCHER BULLETIN Barring any upsatt in tha DFL JV/ADISON -R—Gov. Gaylord Nel- NEW YORK l/n - Tht stock primary in September . Keith will announced his candi- Hit the Bottom son finally market declined again Hiit aft- r dacy today for the L . S. Senate By JACK LEFLER ernoon with trading volume so DFL Slate seat—held since'1938 by Sen. Alex- AP Business News Writer heavy that the 52-minutc lag in ander Wiley, asserting that the the high-speed DULUTH , Minn . UP) - Here NEW YORK M — Where will the stock market hit bottom " ticker tape set office requires "more leadership That question has the nation's millions of stockholders and thou- an all-time record. are the DFL's endorsed can- and more imagination." sands of brokers in a sweat. At noon . The Associated didates for state office: The 45-year-old Nelson only- Governor . The answer — which few are willing even to guess at — is vital Press average of 30 stocks was — Karl Rolvaag. Democrat to win two terms as Lieutenant governor to the economy. off 3.60 to 221.60. At 1 p.m. — State Wisconsin governor in this cen- Sen . A. M. Keith Rochester. The great slide has ripped an estimated $66 billion from the the Dow Jones averag, of 30 , tury, said his decision to leave Attorney General — Walter S393 billion aggregate worth of stocks listed on the New York Stock industrials was down 10.98 to " However, Mondale, incumbent. had "not been easy. Exchange since the market hit 600.90. Secretary of State — Joseph The Associated Press reported its all-time high last November. ; Donovan , incumbent. last February he had advised oth- Repeated selling waves last ' State Auditor — executive er Democrats that he had already- week sent the market staggering By ED MORSE committee expected to name made up his mind to challenge to its worst loss in 30 years. The Plane and AP Business News Writer John Nivens. Tower. ; Wiley. , - value loss for the week" was $23.7 NEW YORK fAPi - American ' State Treasurer — executive Wiley, senior Republican in the billion. | Telephone and other blue chips committee to select, possibly Senate, was endorsed for a fift h Investors unloaded stock . at a were batted downward in heavy Conrad Hammer, St. James. term by the GOP state conven- terrific rate. A total of 22 ,988,050 | selling early this afternoon as the Com- Grew of 6 ¦ ¦ Railroad — Warehouse tion Saturday—his 78th birthday . shares changed hands. j stock market took another dive. missioner—Paul Rasmussen. Nelson said he would leave the Brokers said stock owners are The Associated Press average frightened — by specific appre- v^^w^v^^^^AA^ office of governor with a "certain of 60 stocks at noon was off 3.60 Karl Rolvaag hensions and by shadowy anxieti- at 221.00 with team with Lt. Gov. sense of accomplishment." ¦ ' Lost at Sea industrials down at the top of the ticket in the "In less than four years, we eties. ' 5.00, rails down 1.00 and utilities DOVER , Del . (AP)—A massive down 2.70. general election. MUSHROOM OVER CHR ISTMAS ISLAND tests being conducted there. This explosion was have made Wisconsin the recog- Is another 1929 — the year of the I Rolvaag, who will be 49 July ! search was under way today for Losses of fractions . This picture of a mushroom cloud spiraling described as an air drop. "COPYRIGHT, 1962, nized leader among all the states disastrous, market crash—ahead? j to 3 or 4 18, easily won endorsement to run j points were the I upward was made at Christmas Island in the OAKLAND TRIBUNE PUBLISHING CO." <AP in the preservation of our outdoor Most financial experts say no. Ij an Air Force C133 cargo airplane general rule for the nomination for governor. resources. We have conducted a among most key stocks. Some say there is a possigility. jI missing since shortly after takeoff He appeared before the conven- j equatorial Pacific diiring the current nuclear Photofax) major reorganization of state pro- The market was "There's absolutely no compar- ) Sunday from Dover Air Force irregularly low- tion 's endorsing committee to grams for the aged, the disabled , ison," said Martin Gilbert , a part- i| er at the opening, then widened Base. It speak in favor of Keith. the mentally retarded and the ner in the big .brokerage firm , i; carried a crew of six . its losses swiftly as selling snow- Keith, 33. in 1958 became the mentally ill. And we have done Walston & Co. "1929 signalled the ; An airplane, among 47 air and balled amid a continued atmo- first liberal in 32 years to rep- more to relieve property taxes end of an economic boom. I sea search units, spotted what ap- sphere of discouragement. in the resent Olmsted County than any previous administration "This is a psychological decline j| peared to be several packing he was a Utilit ies continued titeir sharp legislature. An attorney, in state history." . based on a political-business quar-j cases floating in the Atlantic 26 late starter in the race for the Disaster Traced i j downtrend of last week . Steels, Plane rel sparked by the Kennedy ad-j miles at sea. A Coast Guard boat Nelson said his decision to see* I (motors , rubbers, oils, lieutenant governor endorsement ministration's forcing of the steel \ was en route to the area chemicals the office of senator was dictated { to pick I and nonferrous metals fell in which seven names were being industry to retreat from its price '; up the cases in an attempt to de- back. considered. by a conviction that "we need increase). It is also due to a re- Tobaccos were clobbered. A more leadership and more imag- termine if they came from the published article adjustment of values placed on missing aircraft , which was bound over the week- On the convention floor, Keith ination to meet challenges"' fac- ! end discussed possible action by in Lavatory stocks. Business is still good. " for Lajes, in the Azores. of winning on To Blast votes came within 62 ing America on both the domes- Others see in the public's sud-|j i the Federal Trade Commission to* the first ballot with Minneapolfs CENTERVILLE , Iowa (AP)— A 'plane before -it was torn apart in , Imer separated and the main tic and foreign levels. den suspicion of stocks the danger |i An Air Force spokesman taUt ward labeling cigarettes with re- businessman Gerald Dillon second. spokesman for government inves-;flight , said Edward E. Slattery, jfuselage landed in a farm yard "I intend to discuss these is- of contagion to the economy as 1 the plane had taken ofE from Dov- spect to health hazards. top- ' Dillon dropped out and Keith tigators said Sunday night they j public information officer for the -in nearby Missouri. sues on the basic merits without a while. j er at 8:18 a.m. Sunday and was The ticker tape ran 35 minutes ped Paul Skjervold , Minneapolis have pinpointed the place of an!Civil Aeronautics Board. |. Experts of the CAB have been name calling or oversimplifica- Much of the loss so far has Hast heard from about 50 miles late as the session entered the af- attorney, 742-217 on the second go- ' explosion in a Continental Airlines i reconstructing wreckage of the tion or empty phrases, " he said. been paper profits rolled up when i' east of Dover. ternoon, exceeding the 29-year round! jet that sent 45 persons to their i Agents of the Federal Bureau Boeing 707 at the Appanoose "During the course of this cam- | Isolated thunderstorms were re- record of 34 minutes set May 14. other highlights of the market was soaring. If the i These were deaths. of Investigat ion also were activejCounty fairgrounds. paign . I hope the Republican can- i ported in the area where the last AT&T sank more than 3 convention : market continues to slump and points the DFL A high energy blast occurred ;in a probe of the tragedy, ini Slattery said that work on the didate will join me in the public wipes out hard cash, the result ¦ contact was made with the plane. at worst after a delayed opening. Veteran Railroad and Warehouse 'r in the right rear lavatory of the l which the ta il section of the air- mockup so far made clear the spot forums to discuss the national and could be a reluctance to spend i Dover Air Force Base said the AT&T was affected like other util- Commissioner Paul Rasmussen w nere me explosion occurred.