|◄ FEBRUARY ►|
|◄ 1958 ►|
|President:||Dwight D. Eisenhower (R)|
|Vice-President:||Richard M. Nixon (R)|
|House:||233 (D)||196 (R)||5 (Vacant)|
|Southern states:||99 (D)||7 (R)|
|Senate:||49 (D)||47 (R)|
|Southern states:||22 (D)|
|GDP growth:||-2.0 %||(Annual)||Recovering from|
|-3.0 %||(Since 2Q1957)|
|Fed discount rate:||2¾ %|
Feb 5: During a practice exercise, an F-86 fighter plane collides with the B-47 bomber carrying a 7,600-pound Mark 15 nuclear bomb over the waters off Tybee Island near Savannah, Georgia. To protect the aircrew from a possible detonation, the bomb is jettisoned into the water. It has never been recovered.
Feb 6: Seven Manchester United footballers are among the twenty-one people killed in the Munich air disaster in West Germany. They were on a return flight from a European Cup game in Yugoslavia. The British European Airways flight had stopped in Munich for refueling. The Airspeed Ambassador 2 aircraft crashes during its third attempt to take off from Munich-Riem Airport’s slush-covered runway.
Feb 19: The Federal Reserve Board reduces the reserve requirements for its member banks in what is described as the most substantial counter-recession move so far in the current slump. This action will potentially pump as much as $3 billion (about $26.5 billion today) into the economy.
Feb 20: Nathan Leopold is given parole after serving almost 33½ year is prison for murder. Leopold and Richard Loeb committed one of the most shocking murders in history when they killed 14-year-old Bobby Franks in Chicago in 1924. Loeb had been fatally stabbed in a prison shower in 1936.
Feb 23: Cuban rebels gain international attention when they kidnap five-time world driving champion Juan Manuel Fangio. His captors hope that the kidnapping would embarrass Cuban dictator Fulgencio Batista and perhaps force hime to cancel that year’s Cuban Grand Prix in Havana. The race goes ahead, and the rebels release Fangio unharmed 28 hours later.