Independent from Long Beach, California on February 5, 1960 · Page 2
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Independent from Long Beach, California · Page 2

Long Beach, California
Issue Date:
Friday, February 5, 1960
Page 2
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Pag* A-2--INDEPENDENT Lcn » » Mtb e »"'- r ' w "' F « l - *· " i--L.A.C. S A Y Si- Uneasy Audience Three of the nation's best known economists ap peared before an uneasy audience at the Farmers Merchants Bank Forum last night. The uneasiness was apparent from questions asked concerning ex 'pected business conditions, interest rates and stock " market prices for the balance of the year. Two of the .speakers were mildly optimistic--the third, the rea. estate expert, was frankly pessimistic. * * * The stock expert, Armand G. Erpf of New York City, thought the stock market might well regain its losses for this year. He justified the high price-earning ratio of many leading stocks by pointing out their ·tremendous growth in the past. By comparison he seemed to think the low-priced stock company, in comparison to earning, is quite often marking time because it does' not expand and lacks dynamic management. · ;. ; Dr. Paul McCracken, former Federal Reserve .Bank economist and now member of the University -of Michigan faculty, seemed to think I960 would show a 7 per cent increase in total business and production for the year. He estimated production would be in full swing to build up inventories depleted by the steel strike and that state and local spending will increase another 7 per cent, as it has increased for several past years. He said our exports would be higher because of the passenger jets on order by for- ;eign nations as well as a better market for cotton ;than we have had for many years. He thought the present cautious attitude of the people is good be- ·cause otherwise it could mean a runaway inflation. ;He looks for 1960 to be substantially better than 1959. * * * A much more pessimistic view was given by James C. Downes Jr., chairman of the Board of the Real Estate Research Corp. and consultant to the mayor of Chicago and many business enterprises. He point- led to the danger of foreign competition faced by ;United States industries. He told of one large mer- ;chandising organization operating several shopping ;center stores in this area. This large merchandiser said 14 per cent of the goods he sold last year were imported. He expects it to be 20 per cent in I960. He was concerned over the amount of competition American companies were generating themselves. He referred to large U. S. electrical companies licensing Japanese concerns to produce transistors which are .being shipped into this country at lower prices. He .told that on his trips to Europe he saw great changes pver a five-year period where we no longer have the jnajor share of the aircraft, automobile or electronic Bales. Instead, we have lost these markets and are japidly having large portions of our own market in- .vaded by the foreign goods. : * * * Mr. Downs also questioned the future rise in real estate values over the nation because most areas have already reached prices as high as reasonable | Tents could support. He thought we had about reached the saturation point of regional shopping centers, banks and saving and loan branches. This, he believed, means a slowing down of construction in these categories. · * * * ; It was an interesting evening because of the uneasiness occasioned by the stock market antics the past 30 days. Few experts thought the market would ·be down for this period. There are many explanations being given. But these experts at the F M Forum ·spoke of actual conditions prevailing and left it to the. ·uneasy audience to make up its mind how to evaluate and use the important data presented to them.--L.A.C. Kennedy Disavows Implication Hoffa, Humphrey Conspire By ROBERT E. LEE of The Independent'* Washington Bureau WASHINGTON--Sen. John F. Kennedy (D-Mass) said Thursday he's sure there isn't any political link between Teamsters' Boss James R. Hoffa and Sen. Hubert H. Humphrey (D-Minn) in the Wisconsin presidential primary campaign. Kennedy told newsmen that neither he nor his brother, Robert, has ever said that -loffa is helping Humphrey, ·lowever, he added t h a t 'Hoffa is opposed to me" and called attention to a recent news story quoting Hoffa as saying he's trying to stir up opposition to Kennedy in Wisconsin and elsewhere. (former GOP governor of the state) the Teamsters' Union organization has supported Republicans in Minnesota." GUESS WHO.. Jet Plane Skids off Runway., 123 Unhurt .. suggested seeing a marriage counselor. ST. LOUIS (UPI)--A Boeing 707 jet airliner with 123 persons aboard skidded off the end of a runway while landing at Lambert-St. Louis Airport Thursday, but no one was injured. The 100-ton 5-million-dollar airliner, carrying 115 Los Angeles - bound passengers and a crew of eight, sank its wheels 24 inches into soft earth at the end of the 6,000- foot instrument approach runway. Authorities said special equipment would be needed to dislodge the Trans World Airline plane. * * * * THE CAUSE of the accident was not immediately determined. Emergency vehicles sped to the plane to take passengers and crew mmebers to the terminal building. Some passengers slid down canvas chutes to the ground and others were assisted down ladders. THE PLANE* left Miami earlier on a flight to Los Angeles. I John Brauley, reservations manager for TWA, said tjjo landing "had received proper clearance and appeared 'normal until the time the mishap occurred." ; ; Passengers bound forLp's Angeles were transferred to other flights, Brauley said. ', HUNTINGTON HOTEL 1290 E. OCEAN BLVD. ROOM, with DrlvolD tile bath nnd daily maid service; also Includes choice 01 our Jic club break/ail* . nnd choice ol oil our S2.20 din? norj, S.M nor day. Two oeoo n room with balh. Including meaK, JB.30 per day. This Is noTM « · bOijrdlno house, bul a Boulevard Hotel. All rooms with urlvnle . bath. We serve very excellent , food Special weekly rates, $2V OS per week, up, Includlno meals, as ' listed above. For reservations-- ' Phone HE 6-6253 ' . | {L.A.C.'s column, by L. A. Collins Sr., like othor columns ij an e*. .prestion of personal opinion «nd does not necets.irity reflect the considered opinion of this newspaper.) AT HIS FIRST full-dress news conference here since ormally declaring his can didacy for the Democratic lomination, K e n n e d y a n - nounced he is accepting Humhrey's "challenge" to enter he West Virginia primary May 10, indicated he still is nnoyed at the way delegates vill be chosen in the Wiscon- in contest April 5, and sought a take the edge off his rother's statement in Racine, Vis., Sunday, implying a loffa-Humphrey connection. Robert Kennedy said then e is "convinced" that Hoffa ill take an active part gainst his brother in Wiscon- 1 n. He backed it up by noting ! hat a Teamsters' official from; reen Buy, Wis., is among umphrey's leading support- rs. Sen. Kennedy said Thursay--"I wouldn't want to lake any inference that there any relationship between offa and Sen. Humphrey, m sure it isn't so." He added! lat Hoffa should "stay out of' ic Wisconsin primary and ie 1960 elections." KENNEDY MET the press! nly u few moments after en. Eugene J. McCarthy (Dinn), co-chairman of the umphrey campaign commit- e, had spoken up for the inncsotun on the controver- al issues of Hoffa and the iportionment of Wisconsin 'legates. McCarthy said the "Hum- irey organization" has re- ived no money from the -ioffa organization." nor did he think it would accept any. But, he said, "respectable" members of the union are backing Humphrey in Wisconsin as they have Humphrey and o 1 h e r Democrats in Minnesota for years. McCarthy added drily that "since the days of Harold Slasscn INDEPENDENT Published dally except Sundny at Sixth St. and Pme Ave., Lonq Be.ich ic, Caht. Entered as second class nintter Mar. 27, 1943. ,it Lonfl Beach 2, Cnlif. Adjudicated bv Superior Court, Los Angeles County. Oct. 6. 1941, Decree No. C-102SO Per Per Month Year Carrier Delivery $2.00 $?4 00 By Mail 2.00 24.00 Single Copy ,, iQc ·» Pine Avenue at Fourth open Monday and Friday 9:30 to 9:C SALE Billy the Kid SafTnee jeans 2/5.1 Once-a-year savings on these long wearing jeans with 25% nylon SafTnee, double stitched seams and Talon rustproof zipper. Va!-dyed and Sanforized. regulars, sizes 4 to 1 ?. slims, sizes fi to 12 2.69 regularly 2.98, now also sizes 14 and 16 2.98 regularly 3.50, now. BOYS' SHOP FOURTH FLOOR BISHOP f. MALCO INVEST IN YOUR HOME NOW-SHOP THESE TERRIFIC SAVINGS AT WILEY LUMBER WONSOVER DUTCH BOY PAINT A REALLY GREAT PRODUCT MADE BY NATIONAL LEAD CO. FOR ALL INTERIOR WALLS . . . HERE IS QUALITY AT ITS BEST, PRICED EXCEPTIONALLY LOW! A CLOSE-OUT SPECIAL, SUBJECT TO WILEY'S STOCK-ON-HAND . . . SALE STARTS: FRIDAY, FEBRUARY 8th ALL ITEMS SUBJECT TO STOCK ON HAND REDWOOD LATH LONG LASTING AND ECONOMICALI 6-FOOT LENGTHS BUNDLE OF 50 REDWOOD POSTS A FENC5 BUILDER SPECIAL! 4"x't", ODDS N' ENDS 7 AND 8-FT. LENGTHS . . . EACH 199 DOUGLAS 14 FT. LONG 2x4'S WEYERHAEUSER'S CONSTRUCTION AND BETTER . . . SHOP EARLY . . . WILL GO FAST . . . EACH CONSTRUCTION GRADE A CLEARANCE SPECIAL! 2 " x 6 " x 8 FT. LONG THESE BUILDER'S PLYWOOD OILED AND EDGE SEALED FOR USE IN CONCRETE FORMS . . . 5 / 8 " THICK . . . H'«8' SHEET MAHOGANY PLYWOOD FIRST QUALITY NEVER BEFORE AT THIS LOW PRICEI %" THICK . . . BIG ·t'8 1 SHEET FIT-TOGETHER DECKING FOR BEAUTIFUL BEAM AND EXPOSED CEILINGS. WEYERHAEUSER, KILN-DRIED 2,6. FIT TOGETHER . . . LINEAL FT CEDAR FENCE POSTS REALLY LONG LASTING! A SPECIAL FOR FENCE BUILDERS. 4"4" . . . 7.FT. LONG . . . EACH SLIDING DOORS GLASS SLIDING DOORS. A FEW LEFT AT CLEAR- OUT PRICES . . . EXAMPLE: 5' WIDTH (5 LEFT) EACH . . . CLEAR REDWOOD CLEAR AND DRY AT THE LOWEST PRICE EVER! FROM 4" TO 12" WIDTHS, SURFACED AND PATTERNS . . . BOARD FT.. .. '?TM-! POWER TOOLS A LAST CHANCE SPECIAL! BLACK DECKER, WYNN, PORTER-CABLE . . . CLEARING OUT AT BIG DISCOUNT . . . MARINE PLYWOOD MANY BOATBUILDER SPECIALS! EXAMPLE: 4 x 10 EXTERIOR, GOOD BOTH SIDES, I/," THICK ... '65 OPEN 8 A.M. to 5 P. M. ... OPEN SAT. SUN. 6925 ATLANTIC AVE. Phone 6A 3-6429 or ME 3 - 1 4 1 4

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