9 FRANCO LOAN PROPOSAL See Page 2 Y Latest Deadline in the State A6F FAIR, COOL VOL. LX, No. 26-S ANN ARBOR, MICHIGAN SATURDAY, AUGUST 5, 1950 FOUR PAGES Soviets Introduce Own Korean Peace Plan * * * Red Armies Prepare for Pusan Drive North Koreans Switch Generals T OK Y O-(P)-North Korean troops today were expected to loose an all-out smash on the southern front aimed at Pusan, the beachhead port 35 miles east of the quiet battle line. V The U. S. Eighth Army, charged with holding the Southeast Ko- rean beachhead until a counterof- fensive can be launched, reported this development in a communique.- * * * IT SAID there were "uncon- firmed reports" that indicated "the enemy may launch -an at- tack east of Chinju today." Chin- ju is 55 miles west of Pusan. General MacArthur's headquar- ters earlier said two more Red Ibet Next <