WTDNKSDAY, 'APRIL 30, 1947 Buyers Exercise Extreme Caution Harvard Economist Says Policy Helping To Avoid Recession 1!Y THOMAS SCimOTJI (UniU-il I'rcss St:itf <'m iTsixmih nil CAXmiuaK. M;iss.. April 30.— 1'iiblic caution has lessened the ^rfciK'os of a biisinrs:; recession i'i 'fie no:ir future, Prol. o. M. W. Eprap.ue, lliirviird economist, niKl one lim ( , adviser . to the Bank ot lCi>!>i:i!iil, suicl today. "The mere fact tiiiil everyone is so much aware of the clanger or a rei-essioii seems to lessen HIP dinner!! of conditions so developing iis to make a serious dppj'e.ssioi) inevitable," he said in mi interview. "Wholesaled-!* and retailers are far more cautions about the dangers ot :ia'iiirmliiUii|! inventories at hii;U prices Hum they were after World War I." The 74-yc:ir-old economist. Ionian adviser to srovcrnments and banks, tempered his opinion with :\ concern Inr thu rise in prices. He supported the Tnunan policy of price reduction. "I am heartily in favor of the President's general pro-ram. It ;s highly conservative and one that should be snpiwi led by the business community," he said. Asfccd about, the • N'ewburvporl Plan" in which merchants of Ncw- b'ltyj'.ort. Mass.. are .cutling nriees 10 j;er cent, Spranue thought, it was a j;oo/| idea. ''Hut is it possible to start prices down at the retail level? Tt certainly will have, some beneficial psychological effects. One must be&in .somewhere." Kxerciscs Caution Spta^ue termed his outlook for the economic fiilurc as one. of JW "rautious- optimism." ^k2 m ' n fhiancial and executive as- ^^I'Mit to the Secretary of Treasury, Kpraunc objected slrottgly to the recent tax bill passed by the House. "This is particularly the wrong time lo be reducing taxes." he said "Taxation is tied closely to tli,. problem of inflation. SpraiMie said II..U n SS.OOJ.OCO.O'IU or S10.030.roO.OOa reduction in the tlehl. would "use up surplus money which would now only he used to increase demand on scarce supplies. Later, lower interest rates on the debt would release tax money for purchases of the then more plentiful consumer «oods." Here are Sorague's views on various problems: L-ibor—"I doubt if a longer work week for labor would bring about a further rapid increase in industrial output." •Lower taxes—"The lowering of federal taxe.s would linve an inflationary effect by releasing more money now." National debt—"It would be wise to reduce, the debt as a safeguard m;ainst possible /mure ••-expenses. But the present cost of the debt HIATHKVILU? (AUK.) COUKIMU NKWS Henry Wallace Claims He Was 'Misunderstood' WASUINTON, April 30. (Ul'i - lle.'My A. W.illarc relumed from Ins nine areunii Kuroiie in c>p|>:>- ition to United States lurt-lgn pol- n\ sserlini; thai, he hail been misquoted and misunderstood, liut 1( sull is against United stales • lo 11 M policy. Wallu.:e told a press conference her,, all atout it. .The fouls he called on newspapers reporters Mere and abroad were as lollnws: 1. Ite said he did not say President Truman's Grcc!;-Tutkish aid program was a policy of ruthless imperialism, lie said he used Dial' uhra.se in reference lo a loreit;n |xili:y jjruc.ram published tins month in the niaya:dne Life. 2. de said he did not recom- • mend !hi>t $11.COJ.I'P3.000 or any | lixcd sum should be loaned to Kus- j >ia lui- reconsti-uction. , Hotel Finn Incorporates MTTI.K HOCK. Ark. Apli] '.tO. (UO-Tho Ooff Hotel Co.. inc., of ntyihcville tiled JUKI.'IK nition itrticles yesterday \vit'i the f-;ei> relai'y nf State. The linn named Joe T. resident a^cilt and liste-l authii, i/ed capilid slock of S1W.01IO. Olh- ei - iucot noralors were l'"rcd R. CKipehuid, Clandie M. caulc am CJi;u!e:ie !•'. Copclund. PAGE NINE Los Anyeles telephone strikers Une\v ti-.ey had a sensation in the bag when they sent Stcvie. Guslin, above, to picket line in costume made from hurbp yun- ny sack. "Poetic" placard she curries reads: "I'm really no bumniy, (hough I'm Orcp.scd in a gunny. With a raise of pay, I wouldn't look funny." Loyal Paraguayan Troops Quell Uprising by Solars ASUNCION, April HO (UI'l-'-Tlin Interior Ministry announced today, that loyal Paraguayan Army troops have put down :m uprisin;: liy Navy men in Asuncion, which was Marked out wheii the rebels tnnporanly seinctl the city po'.ver plant. 1 The ehish in Asuncion tlnvini' the night was purl of the two- month-old civil war in which dissident, groups within the ininy huvc gained control of Northern 1'ava- Biiay and establishetl a revolutionary (;oi-enmiw)t jil Craxciteio". Hcucl sonrfc's sairt Ihe unsuccessful uprisin;; of sailors was carried out under orders from Con- ccpcion "accordin;; lo a |He-estab J lished i)lan." ir> !lol excessive and \vith :ui increase in prodiictivily, the burden will become lighter." Economic outlook "i feel hopeful that, even ihoii^h industruU prices may not decline materially, we won't have n further incrca-in coiTUi-pohtlitiir to. that wlii.ih 1la.s taken place in the lust 12 month:." For Complete Protection Against All INSURABLE HAZARDS Phone 3545 W. J. POLLARD AGENCY Glcncoe Hotel Bldg. 124 W. Ash St. ya^mmaK^Ksassst Your limey will (urn-anil qiiuHy, Icn.i lo wanted pieces for imi«,.' , : u u | duurs! Nn-,v. wllen prices .mil '.-r-ul; ;uv ju:,t rH'.lit at WADH'fi, ,v<;u'il i.,m,- tl.mn and .select the thin:.:, you -.i.im. We're .specialists In eveiy line. Free Delivery Coll PICKARD'S GROCERY Phone 2043 10'M Chickasawba National Baby Week Aori! 28fh~May 3rd ICE . . So necessary to baby's health! Ice keeps baby's food fresh as fresh can be . . . so when feeding time comes no chance is taken! i Ice refrigerates naturally. ARKANSAS ICE and STORAGE CO. CITY ICE CO West Main Street Phone 2841 ARKANSAS ICE CO. North Highway 6] \ Comfort- and Beauty Combined \S'iien you buy a nil! for Alolhcr this Atdthei's Uav ake it one that will b •aclical anil 1 I > ell as atlracd ( niirehenslve 11 | c h a i r s a n d e h a i injjes stand i in hi Mil', lie r All •inn filldl an I c I h ' Bou-loir Cha-r wnmm^-- Walnut Veneer 4-PIECE SUITE qiialily wMlri'full licsiirn siiilt: funsislii o!' pmicl liril '.i'r clii'.-il ruin 1 . . . Ix'.-iulil'til droji (.-culcr vaiiily with ^S riiiiml i>lal'.' jjliiss niirrnr. The hiKlii:;j; j;il\ for fc r. SSi'c il Imlay ;il \\';nlc's. Occasional Cliair 13.95 up Chaise Lounge ( ' • w' •• iih feS^S' fc—-- • /''ifii ' ; fp^p m •^^m>m ?%£&&£& Quality! 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