America takes out its first loan, The New York Times and the United States Air Force are born, guitar legend Jimi Hendrix dies, and "The Guiding Light" ends after 72 years, all on this day.
1927: Columbia Phonograph Broadcasting System makes its debut with a network broadcast over 16 radio stations of a presentation by the Howard Barlow Orchestra from flagship station WOR in Newark, N.J. The network's name would later be changed to CBS.
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