|◄ MAY ►|
|◄ 1959 ►|
|President:||Dwight D. Eisenhower (R)|
|Vice-President:||Richard M. Nixon (R)|
|House:||281 (D)||152 (R)||1 (Other)||2 (Vacant)|
|Southern states:||100 (D)||6 (R)|
|Senate:||64 (D)||34 (R)|
|Southern states:||22 (D)|
|GDP growth:||6.6 %||(Annual)|
|Fed discount rate:||3.0 %|
May 12: Actress Debbie Reynolds divorces singer Eddie Fisher, who is having an affair with Elizabeth Taylor. Reynolds didn’t mention Taylor by name during the divorce proceedings. She simply told the judge, “My husband became interested in another woman.” Hours after the divorce is final, Fisher and Taylor wed.
May 14: Dr. Gilbert R. Mason, St., a black Biloxi, Mississippi, physician, goes swimming at a local beach with friends and their children. A city policeman orders them to leave, saying, “Negroes don’t come to the sand beach.” When Mason tries to discover what law he had broken, Biloxi mayor Laz Quave simply says. “If you go back down there we’re going to arrest you. That’s all there is to it.” Mason will continue to petition the county board of supervisors demanding access to the beach. This is the first of three Biloxi “Wade-ins.”
May 28: The Federal Reserve raise the discount rate from 3% to 3½%, matching the post-war high set in 1957 just before the recession hit. The move has been expected for the past few weeks as banks raised the rates they charge to their best customers.