Time Clock: Jan. 27, 1961

GOLD BAN on U.S. citizens and companies holding the metal outside U.S. spurred biggest gold sales in London in months. Buyers interpreted decree as increased U.S. worry about dollar's soundness. Gold held abroad (estimated at $200 million) must be sold by June 1. Move, intended to prevent future speculation on dollar devaluation, will be hard to enforce, probably have little effect.

STOCK-BUYING by New York Central Railroad Co. sent Baltimore & Ohio Railroad Co. stock soaring 10½ points (to 47) before it fell back to 38½ after Interstate Commerce Commission opened an investigation. Buying was Central's last-ditch way to block merger of...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!