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October 5, 1954

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Headlines from October 5, 1954

Jersey Will Reinvest $23,000,000 Deposits; JERSEY TO SWITCH $23,000,000 FUNDS

By George Cable Wright

Alexander says state is withdrawing $23 million of $26 million on deposit in time accts at 200 financial insts; says these refused to pay 1.75% interest; will invest funds in Govt securities; Alexander and Meyner deny pol considerations influence choice of banks; Alexander says he invested all available funds in Govt securities since taking office; Jones scores pub of lr exch; asks Meyner whether while serving as State Sen, '50, he recd $75,000 deposit of state funds from Margetts for Philipsburg Natl Bank and Trust Co; asks Meyner whether at that time he was atty and dir of Philipsburg bank; Meyner says he recd many requests from banks for deposit of state funds, was atty and dir of Philipsburg bank, '50; says he is still dir; says he told bank it would get no state funds deposits after his election as Gov; sees possible Repub pattern in Bogota bank incident

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Historical Context for October 5, 1954

In 1954, the world population was approximately 2,685,894,860 people[โ€ ]