The Austin Daily Herald from Austin, Minnesota on December 19, 1958 · Page 3
Get access to this page with a Free Trial

The Austin Daily Herald from Austin, Minnesota · Page 3

Publication:
Location:
Austin, Minnesota
Issue Date:
Friday, December 19, 1958
Page:
Page 3
Start Free Trial
Cancel

Atlas Triumph Could Spur Soviets * to Push Harder on Space Attempts LOTS OF BUSINESS FOR SANTA — Old St. Nick will have a great many stockings to fill when he visits this household of 18 children next week. Mrs. Herman Smith (seated center), holding her twins, Brenda and Glenda, has taken over the task of raising her 14 brothers and sisters as well as her own four youngsters after her mother, Mrs. Alberta Williams, died Nov. 8. At right (foreground) is Mrs. Smith's father, Alonza, holding twins Sharon and Karen Williams. Herman Smith is behind his father-in-law. Family occupies 14 rooms in a frame house on Chicago's near north side, (AP Wirephoto) By ALTON BLAKE9LEE ,'«, Associated Press Science Writer NEW YORK (AP)-Atlas' triumph brings human space flight and astounding space laboratories big step closer. Sprung from well-kept secrecy, t could spur the Russians to push harder and faster in their always secret space plans. Just 14& months ago, man was still earthbound. Then Sputnik I startled, and shocked, the Western world. 'Great Comeback Now the United States has scored a prodigious comeback. It assesses the heaviest as well as he most satellites. It has sent ,wo probes nearly a third of the way to the moon. Temporarily, America leads. But the Soviet Union could play the next trump soon. Indeed, some space experts are puzzled why she hasn't done something spectacular since the IMs-ton Sputnik soared up last May. The main significance of Atlas is in advancing the ability accurately to thrust big and heavy satellites into space. Big enough to carry men. Watch Weather Big enough to watch the world's weather in the making through TV eyes, tracking hurricanes, vastly improving forecasts. Or act as great communications centrals, instantaneously relaying a vast volume of cables, "mail" and TV shows to any point on earth. Or to carry telescopes seeing our universe with awesome and rewarding new clarity, undisturbed by the earth's shimmering! Shareholders Like Splits Because Price of Company's Stock Frequently Rises By SAM DAWSON AP Business News Analyst NEW YORK (AP)—Stock splitting flourishes in a bull market and during periods of increasing business activity when a company needs to raise new money for growth. It pleases shareholders almost as much as raising the dividend— although in cold reality only the latter does them any mathematical good. Worth ,One.Thlrd A stock split like the one proposed by directors of American Telephone & Telegraph actually leaves the present stock owner with the same share of equity in the company's assets. Thus, when [dries up because splitting a stock AT&T stockholders get three new shares for the one they hold to- when its price is dropping has little appeal. But with prices set- day it will mean that each of the ting new highs stocksplitting has new shares is worth in company assets only one third what the present one is. v But shareholders like splits anyway because usually the price of the company's stock rises on the market. Even when the split isn't accompanied by a rnoney-in-the- pocket dividend hike, as the phone company's was, the hope is strong that the split means the directors think higher dividend rates possible. Splitting Dries Up tn bear markets stock splitting come thick and fast of late. So far in 1958 there have been 26 splits or proposals of splits of stocks listed on the New York Stock Exchange, the majority in recent weeks. The same number was set in all of 1957. The year before, a bull market year, there were 56, and 47 in 1955. But in depressed 19J54 there were only 13. The biggest postwar year was 1946 with 74. Reasons for stock splitting are many — some not given by the directors. Sonfa Clous Is Early at Dick's North * Stnr Service Pre-Holiday SPECIAL Another Gift for Your Christmas Stocking Something Every Household Can Use Our Way of Saying . . . Nerry Christmas To You! A HIGH-POWER, 300 FT. BEAN, 3-WAY SWITCH FLASHLIGHT STOP IN AND GET YOURS! WEST W!NC — "Come up and see me sometime" is the invitation extended art lovers in this picture of Mae West, depicted as a giant room by artist Salvador Dali. 9,000 JOBS ABOLISHED Friday, Dec. 19, 1958 AUSTIN (Minn.) HERAID** I Needy Persons Hit by Paper Walkout Costs, Weapons Spell End to Missile Project WASHINGTON (AP)-Costs and| The Navy figured that by jetti- weapons advances have triggered!soiling Regulus II now it could a sweeping Navy cutback in shore establishments * and spelled the save more than 100 million, dollars for other projects. It said ballistic FREE SAVE ON GASOLINE More Go For LESS Dough With TOPOCTANE North * Star With Christmas coming en, there'* no better time than now to start taxing on gasoline . . . and there's no surer, safer way to save than with a tank of North Star. North Star assures you of smooth, full-power engine perform' once . , . guarantees you octane values as high as any en the market. Try it and leel And remember — it costs you less! Reg. 28' To* Paid SPECIAL MEET 3 c rr $1.00 Keep Several On Hand LET "DICK" HANDLE ALL YOUR SERVICE NEEDS! GREASING • WASHING - MINOR REPAIRS Drop Your Car on Tho Way To Work DICKS NORTH * STAR DICK MORGAN, Proprietor Aih A Water St». "On Tho Way To Tho Plant" Austin/ Minn. The one usually given is that the lower price will attract more investors and thus widen the mar ket. The lower price also bring any new stock to be issued later within the reach of more buyers, thus helping the company to raise more equity capital as needed. When stock prices are much higher than the average it makes for thin markets — fewer shares being put up for sale. Prices often fluctuate widely in thin markets. This not only is a hardship for buyers and sellers but it looks bad to the public. Stock splitting has. some side effects that directors may consider but rarely mention. One is that stock splitting alsoj splits the per share earnings. For example, the phone company last year made $10.61 a share on this 686 million dollar net profit after taxes. If the shares had been split three for one at that time per. share earnings would have been $3.54. Attract Less Attention While the reported profits would e just the same, the lower per share figures are thought to attract less attention from labor leaders as talking points when air. AH these are eagerly anticipated by scientists. The Atlas missile will be a main workhorse toward these goals until far more powerful rockets are developed, Launch .Probes Atlas, with, smaller rockets staged atop it, could also launch instrumented probes investigating Venus, and Mars, or going into orb'it as artificial planets of the sun. Shots for Venus and Mars are among TJ. S. current plans. end to a major missile program, missiles — shot more like bullets To keep pace with cutdowns inj— have better potential than the its operating forces, the Navy said I air-breathers guided like pilotless Thursday night, 30 ground bases 1 planes. "• v- i u- f • — — - . V>V»1 «*W VT W AllVfJ, VCIOW J/* V/V*llWVlVi* \J in 17 states will be closed, reduced The Navy is now developing the! the country's fastest-expanding NEW YORK (AP)-Needy persons aided by newspaper Christmastime charity drives are among those hit by the deliverymen's strike that has halted publication for 10 days. 5 Conduct Funds Without the printed daily reminders to donate, contributions to the funds have dwindled. Radio stations have broadcast Victim of 37 Holdups Dies in His Sleep VENNICE, Calif. (AP)-In 30 years, James Dolson's suburban drugstore was held up 37 times. The last time led to his death. Two robbers forced Dolson, 76, to stand against a wall at gun< point last July 27. He collapsed from excitement with a ruptured blood vessel in his brain. Just recently Dolson tried to go back to work. His wife Anita said "It didn't work. He was too nervous. He closed the store early Wednesday and came upstairs. He said every time a customer came in he was afraid it was another bandit. He lay down to take a nap and diec in his sleep." Arkansas Increases Soybean Production WASHINGTON (AP) — Arkan sas is showing the rest of the na tion how to increase production o or merged. The announcement spoke of rising priceswand higher labor costs. About 9,000 civilian jobs will be abolished over the next several years. Canceled after an outlay of 78 nillion dollars was the Regulus II guided missile program. The Polaris 1,500-mile range ballistic!crop — soybeans. missile. Like • the Regulus, the Polaris could be fired with a nuclear warhead from submarines. F. 0. Detweiler, president of Chance Vought Aircraft Inc. which held the Regulus develop- riod. That state this year tripled its production over the 1947-56 aver age. The nation as a whole in creased its soybean output abou 90 per cent during the same pe- requent reminder! to tili puWl« o give — and that has helped tft keep the funds alive. Five New York newsptfwn eon- duct such funds — Th« TitUW, Herald Tribune, Mirror, NeWi Mid 'ournal American. The Journal American's "War" Wounded fund/' which provides ifts for hospitalized veteran*, was least affected because the ampaign virtually had ended be- ore the strike started. But the Journal American encountered another difficulty — overcome with the aid bf the strikers. The newspaper usually delivered the gifts in the now strike-bound trucks. This time the Army delivered the gifts in its own trucks — and striking pickets helped load them. The Times, .which conducts a '100 Neediest Cases" fund, report, ed its contributions today were 810,912.74, compared with $17,372.. 86 on the corresponding day last year. The number of donors was 334 compared with S65 a year ago. Fresh Air Fund The Herald Tribune, which sponsors a "Fresh Air Fund" to send city children to camp, said it received 62 contributions today compared with 325 a year ago ' today and that the number has be,en dwindling. The Mirror, which conducts * "Most Helpless Fund" had no figures immediately available, but said it was most obviously affected by the strike. The News said its "Sally Joy Brown Christmas Toy Chest," had been greatly affected. The News annually assists about 3,500 families with Christmas cash and toys. A spokesman said cash contributions this year are off about 40 per cent, although toys are coming in at about normal volume. ^ ment contract, said the cancellation will leave "a void that cannot air-breathing missile can soar;be filled by any other weapon in more than 1,000 miles at twice the!existence or planned." He blamed speed of sound. It flew in about;the Navy action solely on budget 40 successful tests. 'limits. Before man looks down at earth from a sky perch, much hard'GETS UP AT 4:30 work remains to be done. We must learn how to recover the protective, well-stocked capsule that can sustain his life within a satellite. Re-entry and medical problems of survival are being vigorously studied. Rockets and controls must be- In total output, Illinois ranked first, followed by Iowa, Indiana, Missouri, Minnesota and Arkansas in that order. Arkansas' yield av- jeraged 24','a bushels an 'acre this iyear, come reliable enough to give any volunteer a really good chance of making the round-trip. Elusive Cat Accounts for Lost Chord LOUISVILLE, Ky. (API—Coalie the cat played kitten on the pipes of Mrs. Herman Gerlach's newly Death Hits, so Housewife; 22, Takes on Task of Mothering 18 delivered organ. "It sounded just horrible" when Mrs. Gerlach sat down to play it. So her husband rolled it away from the wall, looked through and the when back she slot seeking to get a bigger share of gross earnings for workers at the expense of the share going to stockholders. The same psychology (even if mathematically unsound )is thought by some business managements to work on customers who may think profit margins are too high, and to ward off politicians eager to investigate big business. Some corporate executives think that an above average stock price and per share earnings works the same way with the public which tends to be critical of big business getting too big. Many Splits The phone company is only the latest of well known firms to split or propose splits this month. DON'T MISS THE AAUW > CHRISTMAS BALL ! MONDAY, DIC. 22 TERP BALLROOM — Chuck Hall Occh. Get YOIK Booth Reiervati«ns At The T«tp Tickttt $3.00 f Couple "there were two green eyes staring at me. I nearly flipped." Mrs. Gerlach grabbed the telephone and called the piano and organ company. The music firm called the movers. It turned out they'd moved a piano for the J. S. Wrights before delivering the organ to the Gerlachs. The Wrights had a big black cat named Coalie. Coalie jumped onto the van and sat on the organ pedal, opined Mrs. Gerlach. A flap opens when the pedal's pushed, and in she went. The Wrights offered to let the Gerlachs keep Coalie, who is temporarily housed in the greenhouse. Children 4 Inches Taller Than in 1908 LONDON UP! — Children in the Leyton district of London due to j leave school this year are four I inches taller and 24 pounds heavier Uhan their predecessors in 1908, i according to a report by the CHICAGO (AP)-They're going to have Christmas at the Herman Smith House, but it won't be easy. j "It happened too near Christ| mas to do anything much," Mrs. | Smith said, "but we're goin' to have a tree and things." What happened was that Mrs. Smith's mother, Mrs. Alberta Wil- jliams, died Nov. 8. While the ] mother was on her deathbed, Mrs. Smith vowed to keep the 14 young Williams children together. Mrs. Smith took charge of her brothers and sisters, ranging in age from 2 months to 13 years, She has four youngsters of her own, aged 2 months to 4 years. So now Mrs. Smith is mothering 18 little ones. And she herself is only 22. Tall, Shapely Mrs. Smith—her given name is Marie—is a tall, shapely girl with wide-set brown eyes and hair drawn back in a pony tail. To a reporter who visited her said she looked like a high school senior. How does she manage? "I get up at 4:30," she said. "Have to get a brother off on his paper route. Then I get breakfast ready. One mornin' it's oatmeal, one mornin 1 pancakes, one mornin' grits and eggs." Whips up Biscuits" Mrs. Smith, who used to live in Atlanta, whips up biscuits for breakfast and corn bread for the evening meal. "At supper I feed '< m in shifts," she said. "First the babies, then the school kids, then the grownups. We can eat in peace that way." How about living space? The Smiths have been living in a six-room basement flat in an old frame house. They have just rented the eight rooms on the first floor to give them a total of 14. "The rent for the two flats is $120 a month," said Herman Smith, 32, who makes $60 a week as a gasoline station attendant. "It takes $50 to $75 a week for groceries." The bulk of the double family's income is $414 a month for aid to dependent children. It goes to the widower, Alonzo Williams, who lives with the; Smiths. He isn't working because of a chronic stomach ailment. Mrs. Smith, who shows a fondness for such newfangled styles as toreador pants while displaying the dauntless spirit of pioneer womenfolk, is determined to keep all the kids together. "I got love for my brothers and sisters and I can't see 'em livin anywhere else," she said. SMART LOOKING STOOLS ItltM* II Axe" Johnson "OUR OWN" HARDWARI 111 E. Mill • HE3-3250 i school's medical officer. Memory CLOSED SATURDAY from 9 lo 10 LARRY HflLTOM PONTIAC Children's Tempera Brushes-—Art Papers —Book*—Easel*—Sketch Books—Crayons—Charcoal—Canvas Panels—Rolls- Sheets—Water Color—Pastel—C-y Colors and Paint-by-Number Sets. Equipment and Supplies Trautner Art Supplies ACIO(» MOM TMC 'TIOHCS" - tOCHISTf I BIGGEST VALUE IN TOWN ...BY FARI RENAULT 4CV • up to 40 mil«$ to the gallon! • 4-door sedan, real 4-passenger eomftM* • rear-engine response and readability • superbly styled, ruggedly built t SOO Mnrtai and parts headquarter! tbroutftaM V.&X Only $1495.00 DAUPHINE-$1793.00 NO DOWN PAYMENT If This Becomes Your Second Car • 36 Months to Pay • Immediate Delivery • Your Choice of Colors * WE TRADE at Austin's Sportland Hiway 219 $. HI 3492*

What members have found on this page

Get access to Newspapers.com

  • The largest online newspaper archive
  • 11,100+ newspapers from the 1700s–2000s
  • Millions of additional pages added every month

Try it free