Word: fortnights
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Night at Charlie's. One evening, a fortnight ago, the Grand Dragon of the South Carolina Klan, a Leesville (S.C.) grocer named Thomas L. Hamilton, assembled a mob of his men on a road near Myrtle Beach. With an electrically lighted cross shining on the lead car, 26 automobile loads of Kluxers rolled through the Negro section of town. Most of the colored population was terrified, but one bold Negro telephoned the police that there would be bloodshed if the Klan came back...
Editor Gunn was called back from his vacation fortnight ago and summarily sacked. In addition to the dust-up over Strachey and the Korean headline, Gunn last week told fellow journalists that he and Beaverbrook had had an even more important disagreement: they had quarreled over fundamental policy for the Standard. He went into no details, but the word on Fleet Street was that the Beaver wanted to change the paper's style, tone down its strident voice and make it something like the conservative Daily Telegraph. At week's end the Beaver was still looking...
...Instead, Greece got a coalition government under Middle-of-the-Roader Plastiras, who has been accused of being too soft toward the Communists. Five members of Venizelos' Liberal Party were represented in the coalition cabinet, but Venizelos himself stayed aloof. When Venizelos ordered the five to resign last fortnight, the cabinet promptly collapsed and King Paul entrusted Venizelos himself with the task of forming a new government. Plastiras and Papandreou rushed home, but Tsouderos, one of Greece's ablest politicans, stayed on in Washington. This week it looked as if Venizelos would stay on as Premier...
Seismographs the world over one day last fortnight registered an earthquake so violent that the record of its convulsions ran off the paper. Because of the incomplete recordings, seismologists were unable at first to determine the quake's location, later reckoned that it must have hit hardest in southeastern Tibet and in northern Assam (a province of India). Communications with this wild mountain region, always poor, had stopped abruptly; the extent of the damage done by the quake could only be guessed at. By last week, frightening evidence of the quake's dreadful work in Assam had begun...
...fortnight ago, Treasury Secretary John Snyder reaffirmed his cheap money policy. He announced that the Government would keep its interest rate at 1¼% when it refunds $13.5 billion in Government securities in September and October, biggest refunding at one time in history. In turn, FRB approved a boost in the discount rate in the New York area from 1½% to 1¾% as a warning to Snyder (TIME, Aug. 28). Last week Federal Reserve Banks across the U.S. upped their discount rates, thus putting pressure on bankers to raise their interest rates on commercial loans...