M1

Money Supply Rises: The Federal Reserve Board reported that the narrowest measure of the money supply, M1, edged up $100 million to a seasonally adjusted $773.1 billion in the week ended May 15 from $773 billion the previous week. The Fed said the measure known as M2 rose $600 million to a seasonally adjusted $3,070.9 billion from $3,070.3 billion the previous week. M1 includes cash in circulation, deposits in checking accounts and non-bank travelers checks. M2 is M1 plus accounts such as savings deposits and money market mutual funds.

More than 1,300 foreign tourists have scrapped trips to China since martial law was imposed on Beijing last Saturday, the official China Daily said today. Quoting sources from the China International Travel Service, the newspaper said more than 100 tours, some planned as far ahead as September, had been called off. The newspaper said hotel bookings and souvenir sales also dropped. China had 1.84 million foreign visitors last year and earned $2.2 billion from tourism. The United States, Britain and Japan have advised their citizens to restrict travel to China because of the current unrest.

Money Supply Measures Fall: All three measures of the nation's money supply dropped in early May, the Federal Reserve reported. The narrowest measure of the money supply, M1, fell $8.7 billion in the week ended May 8 to a seasonally adjusted $772.9 billion from $781.6 billion the previous week. The central bank said a broader measure known as M2 lost $1.9 billion to a seasonally adjusted $3,069.7 billion from $3,071.6 billion the previous week. An even broader measure, M3, fell $1.8 billion to a seasonally adjusted $3,953.

Money Supply Rises: The Fed said the narrowest measure of the money supply, M1, rose $500 million in the week ended April 10 to a seasonally adjusted $781.5 billion from $781.0 billion the previous week. The central bank said a broader measure called M2 rose $2 billion to a seasonally adjusted $3,084.3 billion from $3,082.3 billion the previous week. M1 includes cash in circulation, deposits in checking accounts and non-bank travelers checks. M2 is M1 plus accounts such as savings deposits and money-market mutual funds.

The era of private space travel was launched today when the nation's first licensed commercial rocket, carrying six experiments, soared into the sky for a brief suborbital flight and its payload parachuted back to Earth. Starfire 1, owned by Space Services Inc. of America, a small Houston company run by developer David Hannah Jr. and Mercury 7 astronaut Deke Slayton, blasted off into clear blue skies at 8:40 a.m. from White Sands Missile Range.

Casino owner Bob Stupak says he can beat real estate mogul Donald Trump at his own game, and the flamboyant bettor has wagered $1 million that he will prevail in a one-on-one match of TRUMP, The Game. But Trump, whose casinos are in Atlantic City, N.J., doesn't want to play. "It's always possible to lose, even for someone who's used to winning," he told the New York Post.

Emma M. Melville, 87, the nation's first civilian to witness an atomic test. In 1953, Civil Defense officials selected the 51-year-old homemaker and grandmother to witness an atomic bomb test in the Nevada desert. Mrs. Melville's trip was featured on Edward R. Murrow's "See It Now" television news magazine. The national program broadcast a special CBS report titled "Mrs. Melville's Atomic Bomb." Of the experience, she said: "Movies and other pictures . . . aren't enough. . . .