The Corpus Christi Caller-Times from Corpus Christi, Texas on August 16, 1971 · Page 4
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The Corpus Christi Caller-Times from Corpus Christi, Texas · Page 4

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Corpus Christi, Texas
Issue Date:
Monday, August 16, 1971
Page:
Page 4
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4-A CORPUS CHRISTI TIMES, Mon., Aug. 16, 1971 Little Left of Plane DANIA, Fla. UPI -- Shorn of e n g i n e s , wings and tail; mounted on pontoons and chained to a tree: That's the fate of the "Flying Penthouse," Howard Hughes' plaything of the skies. It sits baking in a lot, the ; object of double takes and jeers as curious passersby predict: "It'll never float." It was never supposed to. Boeing Aircraft Co. buiit ten ; 307 Stratoliriers in 1938. The . prototype crashed. Five were purchased by Transcontinental and Western Air (now TWA). Pan American Airways bought three, 'Penthouse' on Pontoons The 10th went to Hughes, who wanted to make his 3,600-horsepower bird a global record-setter. But World War II erupted, so-he opted for luxury. ' , : ·He-spent 5250,000 to take the comforts'qf home'up to 17,000 feet. The' four-engine plane was outfitted with a full-size bar and buffet, kitchen, two lavatories, .a .ladies'- powder room, paneled ceilings with indirect lighting, a speaker system and special air conditioning- ' t Hughes sold the "Penthouse" in 1949 to Glenn McCarthy, a Texas oil millionaire.. · · . . ' . . When the plane hit the open market in 1963 it had a total of '500 flying hours--an average of just under 21 hours of flight a year'for 24 years. Two Florida firms held brief ownership of the 274-mile-per- hour craft before a man iden- · ti/ied as Joseph F. Mac- CaugiUry took possession of it in 1964. A Chicago bank says it HALTED INFLATION ige-Price Curbs By THOMAS E. SELLERS © Chicago Dal!/ News Wage or price controls have been imposed on the U.S. economy three times in this century, and have controlled inflation while in effect. But in all three cases, the controls sparked controversy, proved hard to administer, and inflation resumed as soon as the controls were lifted. New Test Wage-price controls now will be put to another test. President Nixon yesterday imposed a 90-day freeze on wages and prices as part of a package of economic measures aimed at stopping inflation, unemployment and speculation in the American dollar. The controls previously-were Imposed on the American economy in wartime. Shortly after the United States declared war on Germany in 1917, President Woodrow Wilson ordered price controls on a wide range of commodities. The controls during World War I slowed the pace at which wholesale prices were rising, but prices spurted for several months after the price controls were lifted. Controls also were imposed in World War n and during the Korean conflict. Controls in World'War II included wages, rents and rationing. it was the nation's most expensive encounter with wage and price control. Monumental Bureau A monumental bureaucracy was created to carry out the measure. About '65,000 em- ployes in Washington plus thousands more in the field were assigned to cover an estimated 3 million business -establishments. In the process they compiled more than 1.2 million cubic feet of records. Inflation was stymied as prices of just about everything, from steel to shoeshine polish, were frozen. But violations became widespread near the end of the war and inflation began to gallop again once the ceilings were removed. C o n s u m e r prices spurted 18.1 per cent in 1946, a gain surpassed only by a 20 .per cent increase in 1918. The nation received a smaller dose of wage and price controls when the Korean conflict touched off a new round of inflation in 1950. Hefty Gain Wholesale prices leveled off in 1951; after a hefty gain in the last half of 1950. Consumer prices continued to chalk up healthy increases in 1951, but had only a slight gain in 1952. Almost all of the controls were lifted shortly after the Eisenhower administration took office in January, 1953. Since then, a favorite presidential tactic has been "jawboning" -- pressuring business and labor to use restraint in boosting wages and prices. Presidents John F. Kennedy and Lyndon B. Johnson resorted to jawboning in an effort to keep wages and prices within guideb'nes suggested by their advisers. CLOCKS for every room in the house. You ore Cordially invited to see our collection. TURNER JEWELRY, me Hamlm Shopping Center «03Q Wibor M. mil to lUn Dial 852-0561 loaned MacOaughtry $40,000 to purchase and refurbish the plane, which he wanted to use for a charter service to the Bahamas. The. charter^ service never materialized, but a ' severe storm; did. the following year. The plane was disabled and abandoned at Fort Lauderdale-Hollywood International Airport. ' " .' · The plane was sold at public auction in 1969 to a man who carved off its wings. The Wright Cyclone engines had long since disappeared. :And so, for $61.99, Kenneth London got what was left. London, a Fort Lauderdale real estate man, hauled the plane to a lot and severed the tail section, leaving only the cigar-shaped fuselage intact. This he mounted to a specially designed platform, complete with pontoons and two 185-horsepower gasoline .engines. When he's finished with his project, which he estimates will cost several thousands dollars, he plans to push the craft into the water. Hopefully, it will float, and London can take some island-hopping jaunts he's been planning. Recent gawkers at the Penthouse included some officials from the bank that had invested $40,000 in the plane. "They were kind of surprised to see the condition it was in," said London. LETTERING » EMBROIDERY · SWISS EMBROIDERY « FLOCKING · EMBLEMS · TRANSFERS We'll duplicate your design or create a new one. Most complete plant in South Texas. AE SALES CO. 3307 Ay*r* St. 883-5682 (Nent 1o Ayers Bowling lanei) Portable Royal Sprite! Now Jupiter 12 Reg. 49 How It's light in weight, long on "action" features, includes touch regulator, touch-set margin controls, calibrated paper bail, two-color ribbon and stencil cutter, full size, 88-choracter keyboard. Wide carriage takes standard business envelopes. Pica or elite type; blue and gray with red accents; carrying cover included. The Jupiter-12 has Magic Margins, an 88-Character Keyboard and Touch and Impression Control Selectors. It has three electric repeat controls and three electric repeat' keys. A light that tells the typist which ribbon color is being used and a light hut tells when the machine is on or off. This total electric portable even includes Versatype Interchangeable type and its own carry case. Plus, best of all, it has an electric carriage return . . . and a tough, performance-proved motor.-12" carriage. ESeetrk 12" (WITH MANUAL RETURN FULL KEY BOARD) Now Diefzgen School Specials Complete Set - BncBuding... 1 ea Protractor 6" 1 ea Architects Triangular Scale 1 ea French Curve 1 ea Sandpaper Pointer 2 ea Pencils 12H 14H 1 ea Eraser Pink 1 ea Draft Tape 1 ea Board 13x19 1 ea T square Reg. $ 9 19 D1ETZGEN SLIDE RULES Reg. Student 10% Discount on all other Dietzgen items MAVERICK-CLARKE ffl A Litton Office Products Center 216 MESQUITE 884-9406 CORPUS CHRISTI, TEXAS FREE PARKING NEXT DOOR AUSTIN · COSfUS CHIISTI e SAN ANTONIO ANNUAL AUGUST BRIGHT WHITE SALE! Save2.01 on Fami 'Heavenly Daisy" 'Watercolor Rose' BRIGHTEN YOUR BEDROOM WITH UNBEATABLE SAVINGS! EVERY SHEET AND CASE IS ON SALE! Twin Flat or Fitted Reg. 6.00 Full Flat or Fitted, reg. $7 ... King Flat or Fitted, reg. S13 4.99 9.99 Queen Flat or Fitted, reg. $10 Standard Cases, reg. $4 King Size Cases, reg. $5 7.99 3.49 pr. 3.99 pr. Flowers galore awaiting your selection! The magica! world of "Heavenly Daisy" in colors that outshine the sun. Select red or gold. The delicate beauty of "Water color Rose" splashed all-over too and bottom sheets as well as matching pillowcases. In shades of pink, b|ue or firefly yeliow Linens, Dillard's Second Level CORPUS CHRISTI'S NEW DEPARTMENT STORE IN THE MALL . . . PADRE-STAPLES SHOP DILLARD'S MONDAY THROUGH FRIDAY 10 'TIL 9 . PHONE 991-7300 SATURDAY 10'TIL 6 f ,

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