Wilbur F Redfield 1907 - 1990
Wilbur Redfield's Biography
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Wilbur F Redfield
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1907 - 1990 World Events
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In 1907, in the year that Wilbur F Redfield was born, in October, over a 3 week period, the New York stock exchange fell almost 50% from the previous year's high mark. Public panic ensued and there were runs on banks since the U.S. was in the middle of a recession. J.P. Morgan offered his own fortune to back the banks and he was followed by other financiers. This temporarily shored up the banking system, stopping the immediate panic. All of this led to the creation of the Federal Reserve.
In 1941, when he was 34 years old, on June 25th, President Roosevelt signed Executive Order 8802, prohibiting racial discrimination in the defense industry. EO 8802 was the first federal action to prohibit employment discrimination - without prejudice as to "race, creed, color, or national origin" - in the U.S. Civil Rights groups had planned a march on Washington D.C. to protest for equal rights but with the signing of the Order, they canceled the March.
In 1950, he was 43 years old when on June 25th, the Korean War began when North Korean Communist forces crossed the 38th parallel. The Soviet Union and China backed North Korea and the U.N., primarily the United States backed South Korea.
In 1984, Wilbur was 77 years old when on January 1, "Baby Bells" were created. AT&T had been the provider of telephone service (and equipment) in the United States. The company kept Western Electric, Bell Labs, and AT&T Long Distance. Seven new regional companies (the Baby Bells) covered local telephone service and were separately owned. AT&T lost 70% of its book value due to this move.
In 1990, in the year of Wilbur F Redfield's passing, on April 24th, the Hubble telescope was launched into space after long delays due to the Challenger explosion. An optical flaw was found within weeks of launch but was fixed within three years. The discoveries made possible by the Hubble have contributed to scientists' understanding of the universe.
