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March 11, 1966 - Image 3

Resource type:
The Michigan Daily, 1966-03-11

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FRIDAY, MARCH 11," 1966








Thi Banks Boost Minimum Rates


On Loans from 5% to 51/%

By The Associated Press
Premier Nguyen Co Ky's ruling
military junta yesterday dismissed.
one of its most powerful members,
flamboyant Lt. Gen. Nguyen'
Chanh Thi.
The ouster apparently was car-'
ried' out without touching off a
government crisis, but it exposed
a crack in the clique of young
generals who have shared power
since 1964.
Washington watched for devel-
opments. A White House deputy'
press secretary, Robert H. Flem-
ing, said, "We're still waiting for
There was no official announce-
ment here, but it was learned that
Ky's 10-man directory fired Thi
as commander of the 1st Corps

area, northernmost of fou
military areas in South Vie
That automatically elir
him from the government
for it was as a corps are
mander that he held one
seats of political power.
Ky and his associatesr
the decision in a closely g
meeting at Saigon's Tan So
Airport. Tanks and extra
were stationed around th
Vietnamese air force planes
old timers call the "coupr
circled overhead.
The Young Turk genera:
have told each other tha
long as, we stick together;
weather all storms."
They came unstuck whe
purged Thi, a pale, intens

ir such trooper who very nearly overthrew
et Nam. former President Ngo Dinh Diem
ninated in a lightning coup attempt in
circle, 1960, then spent three years in
a com- exile. He came back to take over
of the a division and then the corps
reached Unanimous
guarded The purge apparently was unan-
an Nhut imous and U.S. authorities were
troops reported to welcome it.
e base. "Thi was the only irritant in
, which the whole junta," one U.S. official
patrol," said. "Now we have unanimity."
But generals have been purging
Ls often each other in Viet Nam to get
at, "As purity of effort ever since Diem
we can was overthrown in November 1963.
It all boils down to a struggle for
en they power, whether by Maj. Gen.
e para- Duong Van Minh, Lt. Gen. Nguyen

Khanh, or in this case,
(air commodore) Ky.
Both Minh and Kha
total power for a time, lo
went into exile.
The ouster of Thi ma
beginning of a bid for tot
by Ky. Certainly, the mo
Thi was the premier's
The divisive nature
namese politics is illust
the Ky-Thi relationshi
leaned on each other in
days of the Young Turks
When Ky became pre
year he asked the pa
officer to send down son

Cl ique
Premier On the battlefront smoking'
ruins of the Ashau Valley Special
Forces camp, which monitored'
nh held Red infiltration routes from Laos,
st it, and fell last night to North Vietnamese
regulars estimated to outnumber
y be the the defenders 6 to 1.
tal power Helicopters flew out some sur-
ustacioed vivors among a garrison of 15 or
greatest 20 U.S. "Green Beret" advisors
and about 300 Montagnard irre-
of Viet- gulars before a reinforced Com-
rated by munist regiment-2,000 or more
p. They men-overran the final bunker in
the early a two-day battle.
partner- "We closed Ashau this evening,"
said Lt. Col. Kenneth B. Lacey,
commander of the U.S. Special
mier last Forces detachment at Da Nang,
ratrooper 60 miles southeast of the battle
me of his site.

NEW YORK (o)-The minimum
cost of loans to the nation's big-
gest and most secure borrowers
was boosted by major banks yes-
terday to 51/2 per cent from 5 per
cent, thus making it more difficult
and more costly to borrow.
The move, which ultimately
might mean higher rates on con-
sumer loans, was initiated by Mor-
gan Guaranty Trust Co. of New
York early yesterday afternoon.
Within hours many of the na-
tion's largest banks had joined
the move, although some held off.
The speed with which most fell
into line was illustrated by Ed
Smith, president of the First Na-
tional Bank in Atlanta, Ga.
"Ours is already raised," he
said. "Raised when we got the
news from New York."
A spokesman for Indiana Na-
tional Bank, Indianapolis, said,
"We pay more for the money to
get to lend. It's pretty obvious we
must raise rates."
There was no immediate com-
ment from the Treasury Depart-
ment. And the Federal Reserve
Board declined comment.
At the White House, press sec-
retary Bill D. Moyers said there
was no reaction to the move.
The most immediate impact was
on the stock market, which had
been rallying strongly. It went
into a sharp decline and prices
closed slightly lower.
Any increase in the prime rate
-the interest banks charge their

biggest customers-often precedes1
increases in other rates of in-
terest, such as on consumer loan.
High Rates
High interest rates are regarded
as bearish by the stock market
because investment money is at-
tracted from stocks by the high
return offered by banks.
William S. Renchard, chairman
of the Chemical Bank New York
Trust Co. said the new rate struc-

ture "should act as a deterrent to
overrapid expansion of bank
credit with possible inflationary
The most recent previous in-
crease in the prime rate, to 5 per
cent from 41% per cent, was on
Dec. 6, the day after the Federal
Reserve Board increased to 41
per cent its discount rate-the fee
the board charges for loans to
member commercial banks.


Architecture & Design Auditorium
Screenings at 7:00 and 9:00 P.M.
Each program is different

Senate Approves New Aid Bill,
Military Funds for Asian War

WASHINGTON (A:) - A $275-
million dose of emergency aid for
South Viet Nam's war-ravaged
economy won overwhelming Sen-
ate approval yesterday. And a
swift, final vote sent to the White
House a bill authorizing $4.8 bil-
lion in new battlefield funds.
The aid vote came after a warn-
ing that without fresh economic
help the South Vietnamese gov-
ernment might collapse.
The aid authorization bill
passed, 82-2, after a scant five
hours of debate-a thin echo of
the long and bitter argumen over
the big military spending measure.!
Lone Dissenters
Sens. Wayne Morse (D-Ore.)
and Ernest Gruening (D-Alaska)
were thg lone dissenters.
The military money bill cleared
its real test in the Senate 10 days
1. ago. Yesterday's voice votes in
both House and Senate reconciled
minor differences and sent the bill
to President Johnson for his sig-
nature. The money is for wea-
pons and other military supplies.
As the Senate acted on the
emergency aid bill totaling $415
h million for Viet Nam and other
trouble spots, an Asian affairs ex-
pert predicted Communist China
would fight to preserve the Red
regime in North Viet Nam.
Prof. John K. Fairbank of Har-
vard University said he doubts

Red China would permit unifica-
tion of Viet Nam as a Southeast
Asian buffer state.
"The Chinese Communists can-
not afford to let us into North
Viet Nam without a fight," he told
the Senate Foreign Relations
Committee, "and we cannot afford

to let the Communist Chinese into
the South where they would
threaten the power balance in all
of Southeast Asia."
Fairbank recommended admis-
sion of Red China to the United
.. ations-and, at the same time,

trusted aides from Da Nang to
take key positions., Thi's men The U.S
moved into command positions in announced
the police and in the 25th Di- combat, 45
vision based west of Saigon. one was mi
But as Ky's political star rose, last Monda
the friendship lessened. Part of 1961 were
the reason, some sources believe, 12,028 wou
was the reluctance of Thi's men 31 detaine
in Saigon to take orders from the captured,
military junta. The Pen
The junta was prepared to let reflected U
Thi run the 1st Corps area as he victoriousb
liked, and he did. But they ob- Vietnamese
jected to his interferring in Sai- against a N
gon affairs, which they felt was ment in
their own domain. .Province.
V A+.l}i tff;:,n J,

156 Dead
. Defense Department
156 American died in
4 were wounded and
ssing in the week ended
y. Casualty totals since
listed as 2,491 dead,
nded, 152 missing and
ed-a euphemism forI
tagon figures evidently
.S. Marine losses in a:
battle alongside South
troops last weekend
North Vietnamese regi-
coastal Quang Ngai



Announcement and replays of
Award-Winning Films and
Film Highlights
Screenings at 7:00, 9:00 & 11:00
Single Admission 75c

World News Roundup

By The Associated Press
GUATEMALA-The moderate-
leftist Revolutionary Party reas-
serted yesterday its claim of to-
tal victory in Guatemala's presi-
dential election.
Party headquarters said re-
sults of Sunday's vote from all 23
electoral districts gave Julio Ce-
sar Mendez-Montenegro the abso-
lute majority needed for election.
The party's figures gave Mendez,
a law professor, 268,960 votes; Col.
Juan de Dios Aguilar of the In-
stitutional Democratic party 151,-
465, and Col. Miguel Angel Pon-
ciano of the National Liberation
Movement 109,100 votes.
* * *
CALCUTTA - Rioting mobs
clashed with police and troops in
Calcutta and the surrounding area
last night. At least 13 persons

were reported killed. One, was a
policeman beaten to death by
The fighting climaxed a day of
rioting, arson and looting as left-
ist-led demonstrators protested
India's food shortage.
As the violence mounted in this
city of five million and in sur-
rounding areas, the Indian army
was called in.
TAIPEI, Formosa-The ruling
Koumintang yesterday named Pre-
mier C. K. Yen as its candidate
for vice-president and heir-appar-
ent to President Chiang Kai-shek.
Chiang himself nominated the{
premier after receiving the unani-
mous vote of the party to succeed:
himself as president when the
National Assembliy meets March

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Wait a few short days while our
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Ioleeme answer the foltowing quesa ion Iurstly in ordet to inraw w wo motyig


1. Whichls i the most important ift appeatatre
a. Well groomed hair
b. Goad posture.
c. Suitable clothing
2. If you had a choice, which of thse following vonld you
-a. Attend a sports event
b. Play card~s
e. Neither.
3, Which of the following social teaets do you prefer?
a. Dances
b. Casual gatherings
c Formal dinner
4. Which of the following do you most enjoy?
a. Camping and fishing
b. Tennis
c. Skiing
3. Which of the folowing subjet interest got met?
a. Philosophy
b. Psychol~ogy
C. Sociology
d. None are of interest
d. Which of the following is of the to t intomat to you?
S. Poetry
b. History
c. Economics
1. A, a child did yous attenid church tand Sunday school?
a. Regularly
b. Occasionly
2, Does your famcily Pray?
a. Regularly
b. Occasionally
e. Seldom
dI. Never
3. Which of the following mos cloeyapproadlae your
concept of God?
a. Loving and forgiving
b. Judicial and sympathetic
c. Unforgiving and punishing
d. N.o concrete concept
4. If two people who marry are not of the smne faith de
you think the children should be?
a. Educated in the faith of the father
b. Educated in the faith of the mother

SATING (stat.)
#. Which tpeof from Urns folwntypo .mqo"
mouot comotabe +itht?
a. Aggressive
Ir. Shp an d retiring
c. Talkative
4 Plan fo idateotzieud be rtted t
a. Male
b. Female
C. Mutual agreement
I, Would you kiss on aaist daas?
:. Yes
b. No
C. Pechaps
t£ Wold you pet esma ampd
N. No
C- Perhaps
7.n Would yout pet with a peson 'witha whom yo" were
a. Yes?
Ib. Neve
C. Perhaps
S. Do yous heliee that caflis shtalt to seant! behavior is
mainly a
a. Woman's obligation
b. Man's obligation
G. Joint obligation
1. Doyaomssiderttaltyoosepants aalappymsniase
a. Yes
b. No
e. No opinions
L. Would you st a apermonfrom saetunl owat ecnomic
level than your own?
a. Yes
L. Would depend on other fates
c. Never
#. Would you prefer to may peas
a. Older
b. Younger
C. Same age
4. Do yous hope to lbane ehildee?

(IBts Qumhvetlonre kfm rsluo ptsqeweeiyJo

AIAOR (sent.)
. . Perhaps
lei. Would you+ apemat VU ee g is
even near your coannty
a. Yes
b. Perhaps
C. No
E Is your usual mood lotuned is b
a. Happy
b. Pessimistic
C. Irritable
G d.Moody
2. Do you fnd thatyoulixvealmdet'WI
a. Comiplemental)' of othos
b. Critical of others
G. Indifferent to others
3. Do you agedsproltle
a. As a challenge
t 6. Pessimistically
G. Avoid solving
4. In forming friends*aipdoyou Im
a. An essy time
b. A difficult time
S. Do the friends that you bars raala Men Sudsm W
long periods of time?
OL Yes
. No
C. Sometimes
. Ame your relations witls your ftad
a. Friendly and close
b. Indifferent
c Antagonistic
d. None ofthese
L Who handled fossires tn your lfuo4
a. Father
b. Mother
c Equally shared meponiudbty
2 . O f th e fo lo w i g w sl e w o u ld y o ts s ea rs hea E u c a i o
a. Euo
t C. Travel
az Present day pleasurs .
I. Do you believe in givng to% toym utoza
a. Yes
b. No
4. Do you think thie bread winner should control tk roms
a. Yes
. No
a Depends upon the aitadog
I. If you reeveia Jrge osmatmoneya agift Wol
you prefer to
a. Save it
K. Investcit
e. Spend it
Whsich of the following do you feel prevailed in pw
I. Do you come from a home where
a. Fsther dominates
b_ othr dminte

DANIEL CALLAHAN, Associate Editor of the Commonweal, received his B.A. at Yale,
an M.A. at Georgetown, and his Ph.D. in philosophy from Harvard. Dr. Callahan has
been a teaching fellow in Roman Catholic Studies in the Harvard Divinity School, a
visiting assistant professor of religion in the graduate school of Temple University
and a visiting assistant professor of Religious Studies at Brown University. He is the
author of The Mind of the Catholic Layman and Honesty in the Church. He is a
co-editor of Christianit: Divideds Protestant and Roman Catholic Theological Issues,

You receive your assignment from
Central Control. The five names are
provided to you, and your part of

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