The Courier News from Blytheville, Arkansas on November 23, 1955 · Page 14
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The Courier News from Blytheville, Arkansas · Page 14

Blytheville, Arkansas
Issue Date:
Wednesday, November 23, 1955
Page 14
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Page 14 article text (OCR)

PAOB BLYTHEVILLE (ARK.) COURIER NEWS WEDNESDAY, NOVEMBER 23, 1996 Curb on Credit May Delay Financing of US Securities By FRANK O'BKIEN WASHINGTON (AP) — A tightening of (lie money market after the Federal Reserve YVrtoniitvjiwin v^n ; — J1 no"- o -- —— j . ., Board's severs crackdown last week on credit expansion may delay briefly announcement ol plans for a 12-bfflion-dollar refinancing of government securities This was indicated yesterday as the interest rate on 91-day Treasury bills, by winch the government borrows to meet its short-term needs, bounded upward to the highest level in '>•> years. Canonization of Pope Pius XII Predicted by Vatican Sources By FRANK BHUTTO VATICAN CITY l/PI — More than for :my other pontiff of modern tunes, a basis already has been established for the eventual canonization of Pope Pius XII. Vatican sources believe that the elevation to sainthood of Tins following hi.s death may be -among the quickest in the history of the of Rites—the church body responsible for the processes of canonization and its preliminary beatification— said lie could not recall a previous appearance of Christ to a pontiff since Jesus appeared before St. Peter after the Resurrection. Of the church's 280 popes, 18 so far have been made saints. These Include Peter and the 24 who fol- lowed him to the papal throne, many of them martyred. But in tliu last 1,000 years only 12 popes have been beatified or canonized. The process, begun usually many years after the subject's death, often takes hundreds of years. KUU- I1CAK Franz Schubert composed rapidly In 1815, he produced his second aiicl third symphonies, two masses, five operas, an almost Incredible number of piano and chamber music pieces, am! 14U songs. In the light of the money scarcity that development evidenced, it was learned, the Treasury is taking another look at tentative plans to announce within the next few days a program for refinancing government securities maturing Dec. 15. May Be Delayed The announcement now may be delayed a short time, one source said, to let the money market settle down from the effects of the reserve board action. It also appeared unlikely that the Treasury would borrow any money—in addition to the refinancing—at this time. Increased tax receipts may have eliminated any immediate need for further new borrowing. The Treasury's bill rate — the rate of interest it pays for 91-day borrowing — climbed steeply this week to 2.440 per cent. This ex- ceeded the 2.416 per cent the Treasury paid in June 1953 durinpc (lie stringent credit shortage of that year, and was the highest bill rate since the historic high of 4.259 per cent in the money drought of March 1933. The bill rate is generally regarded as Hie quickest reflector of money availability. There are 13 issues of bills, each amounting to about SI.600,000.000. One issue matures each week, and a new issue is refloated in its place. TUe bill new; rate is set by offers from the money market, where each weekly issue is auctioned by the Treasury. Sensitive Barometer The size, frequency and manner of handling' the bill offerings make ihe bill rate a sensitive barometer of money conditions. The bill rate rises quickly to reflect credit shortages, and falls rapidly when there is plenty oi money and available. Tliis week the bill rate rose by nearly two tenths of a point, ;ui unusually large jump irom one week to another. This development followed the turn-around by the Federal Reserve Board last week. Friday, the start of a fourth round of increases (from 2 1 ,to '- >! _. per cenO by the reserve banks in their discount rate—the interest, rate at which reserve banks lend to their member commercial banks. Engineers, Chemists, Geologists Come to Defense of Scientist DUNCAN, Okla. (/P)—It's not true that the modern scientist is "square" or that he works ir "musty old laboratory." In a survey conducted by an Oklahoma city school superintendent, some 100 high school students said, among other things, they consider- North American To Build Jets In Japan Plant LOQ ANGELES (£>)—North American Aviation, Inc., has announced that an agreement has fceen reached for the manufacture of F86P Sabre Jet fighter bombers in Japan. Worth American said that under the terms of a license and assistance agreement with Mitsubishi Heavy- IndiMtrles Reorganized, Ltd., the plane* will be built at the Japanese company's Nogoya plant. ed scientists as unsocial creature^ with one-track minds. The youngsters also declared thai scientists don't make much money in comparison to the amount of studj needed to get into the profession. A group of Oklahoma engineers chemists, geologists and metallurgists quickly came to the defense of the science profession. The rebuttal was from some 200 members of the Halliburton Oil Well Cementing Co. technical center. The firm's technical employes said they took the students' opinion ot them with a grain or two of NaCL (salt). Malcolm Rosser, editor of the company magazine, said the reaction of the working scientists was, "Gosh, kids, we're human too." Rosser said that Instead of being buried in a smelly lab, the scientist, he knows is likely to be a guy with a crewcut and a jiassport to exiotic lands. Rosser said the demand for scientists and allied personnel is terrific and that the starting salaries exceed all other fields except medicine. LEVEE TAXES Will Be Delinquent December 1st I Will Be In Osceola, through Wed., November 30 at the Courthouse Mail Your Check Wilh Exchange or Money Order With- out Exchange Together With Your Tax Statement To: Emily P. Trammel, Collector Box 358, Wilson, Ark. HAMBURGERS For your protection, our HumhurKcr I'atlies are prepared and delivered frozen by a nationally known government inspected meat packing plant. A warm well-seasoned him enhances (he wholesome delitiousness of this pure hamburger. KREAM KASTLE Walnut & Division Phone 3-S051 DRIVE-IN CAN'T STOP THE QUEEN MARY WITH A CLOTHESLINE.. «* «,. *„ yo . •*• t»f • towido him I lining yow km*. Wt you con tvy IMWOTK* - *» ngM hind, in the right amm/M. W.'H b« "NOBLE GILL AGENCY CLENCOI ILDG. 3-6861 In addition me reserve board last week resumed open market sale of government .sfcnniies it owns. Such sale. 1 ; pull money out of commercial banks and immobilize it in the reserve banks. Both actions tend to make credit scarcer, and therefore more expensive. Tin 1 most dramatic miracle attributed publicly to the 79-year-old head of the Roman Catholic Church came with the Vatican anr.ounce- ! men! this week that Jesus Christ credit! appenrcd to him in a vision during 1 hi.s grave illness last December. Miracles However, well-informed Vatican sources long- have said that the Vatican secretary of state has a voluminous file of letters and messages from persons telling of "prodigious them as a result of the Pope's intercession. No official word has ever been issued on this file, of which one .source close to the pontiff once remarked: "These things will be made known after both he (the Pope) and I are dead." Such miracles normally are necessary for bath beatification and canonization. First on Record Many appearances of the Virgin Mary have been reported in [he history of the church. But a member of the Vatican's Holy Congregation For Men of DECISION— A Better Straight Kentucky Bourbon SC24 $733 $|67 w TELEVISION SALE 21 Inch 1956 Weslinghouse Regular Price $189.95 T.V. Set- Antenna TV. Table Total 35.00 7.95 $232.90 You Save $30.00 10.00 7.95 $47.95 Sale Price $159.95 25.00 FREE $184.95 Completely $ Guaranteed 184 95 Completely Installed Wilson's TV & Radio Service Time To Start Thinking About Christmas! . . And For Finer Gifts For Men it's R. D. Hughes Co. of the roH button-down collar JIYUO a Here's the latest word in roll button- down collars. It has been discretely styled with shorter points and the collar itself has been narrowed ever so slightly. It's as comfortable as rt is handsome too, because it has no neckband in the front. White & Colors $5 IT'S THE CREDIT ACCOUNTS SOLICITED 30, 60 and 90 Day Terms Famous Firelight "Flicker" Jacket Add (his good looking jacket to the wardrobe for extra-smart casual dress. "Firelight pattern on nylon fortified gabardine. Ideal for "knockabout 1 ' activities. It's really a beauty . . . and a fine buy. In ne\v dark shades. 12' If you're tired of the hats you've, been wearing, try the breezy Dobbs Westward. The perfectly proportioned brim and fine soft texture are »ure lo give you a mighty special or out of town! $10 & $15 Lay-Away Now for Christmas R. D. HUGHES CO. Home owned and operated Lush Lombswool & Orion V-NECK PULLOVER Ultra-soft rich looking lamhswool and orlon blend in the smartest V - neck pullover. In seven most popular colors. All sizes. 195 9' Cashmere Bltnd 13.95 Wool Sleereles* 4.95

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