Word: truce
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...Continue trying to persuade Rhee while going ahead with a truce, hoping for the best...
...coincidence of new administrations in Washington and Moscow creates a host of urgent questions. The Korean truce crisis opens ill-defined opportunities and painful threats in the struggle for Asia; the European alliance creaks with strain; riots and strikes in East Germany call for a sharper U.S. policy toward West Germany; at home, a new defense budget is tossed about in fuzzy controversy; new Government policies toward taxes, business, farming, labor are on the national agenda...
Pertinent Questions. Had Rhee killed all chances for a truce? One sign that some sort of cease-fire might still be possible came from Red Commanders Kim II Sung and Peng Teh-huai. In a surprisingly mild letter to Mark Clark, Kim and Peng accused the U.S. of "conniving" with Rhee to release the prisoners, but did not even threaten to break off the talks. Instead, they asked General Clark some pertinent, practical questions...
When the first Korean truce rumors spread through Wall Street last week, stock prices suffered the worst break in two months. Government bonds, which had been slipping for weeks, skidded some more. The Dow-Jones industrial average slumped 4.65 points to 267.63, lowest since last October. Then, as the week wore on, and reports of an impending truce became official, prices steadied. With the help of some buying by the Federal Reserve, Government securities also firmed up. Once again, the stock market showed that it is not peace that scares stock traders so much as uncertainty...
...Dead. In general, there was little worry over the effects on business of a truce. The stock market, for example, seemed to have a cushion against a further sharp decline. Many investors who had been selling stocks and taking their profits at higher levels were looking around for likely buys at last week's lower prices. Furthermore, on the basis of past performance, companies could suffer some drop in profits without any damage to their dividends. Prewar, corporate dividends averaged 74% of earnings, whereas recently they have averaged only 58%. Another hopeful market portent; despite Dwight Eisenhower...