August 7, 1950
The federal minimum wage stood at $0.75/hr that summer of 1950, and the Dow Jones sat at 235 — the Korean War had begun just weeks earlier, with North Korean forces pushing south and U.S. troops rushing to hold the line around Pusan. At the movies, audiences were turning out for "Father of the Bride" with Spencer Tracy, while on the radio Nat "King" Cole's "Mona Lisa" sat at the top of the charts. That June, French mountaineers Maurice Herzog and Louis Lachenal made history by reaching the summit of Annapurna, becoming the first climbers ever to stand atop a peak higher than 8,000 metres.
On the cover
Magazine Covers — August 7, 1950
NY Times Headlines — Week of August 7, 1950
Lie Issues Report; He Asks East-West Talks To Bar World War After U.N. Victory In Korea Urges A 'Bold' Attempt His Accounting Of Past Year Says Present Crisis May Bring Lasting Peace Only Words Of Hope No Progress On Treaties Lie Issues Report To U.N. Assembly
Council Seeks Way To End Malik Snag; U. S. Deputy At U. N. Meeting Says Body May Even Oust Soviet Delegate As President
U.S. Forces Flush Snipers Before Pushing On In South; U.S. Forces Flush Snipers From Hills Soviet Guns Are Found Artillery Pounds Enemy
Top Corporape Tax Increased To 45% In Senate Unit Vote; Truman Says He Also Expects Excess Profits Levy, But Only After Elections 41,000 Companies To Pay Committee Acts To Produce $1.500,000,000--President Wants $5,000,000,000
Excess Profits Tax Of Dubious Value; Levy Is Held Justified In War But Wasteful Of Corporate Earnings In Peacetime Administration Is Hard Excessive Assessments Due To Low Pre-War Profit, Or Small Capital, Possible Administration Undue Burden Discretion Is Suggested Excess Profits Tax Of Dubious Value
World Events — August 1950
Time Person of the Year — 1950
On the radio
Billboard Charts — August 7, 1950
On the bookshelf
On the television
At the movies
Box Office & Oscar Winners — August 7, 1950
On the field
Sports Champions — August 7, 1950
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