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.
1939: Actor and singer Frankie Avalon, a teen idol in the 1950s and 1960s, is born in Philadelphia, Pennsylvania. Avalon charted more than 30 Billboard singles, including the No. 1 hits "Venus" and "Why." He also teamed with Annette Funicello in the mid-1960s for "beach party" comedy films such as "Beach Party" and "Beach Blanket Bingo."