The Austin Daily Herald from Austin, Minnesota on December 22, 1958 · Page 3
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The Austin Daily Herald from Austin, Minnesota · Page 3

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Austin, Minnesota
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Monday, December 22, 1958
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Page 3
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'58 Packed With Business Stories; Dawson Picks 10 Most Interesting fly SAM DAWSOV AP fituinng ft«*i NEW YORK f AP> - this yea* has been pecked with business and financial news stories that landed on front pages. In one man'H opinion the 10 command" ing most reader Interest are these; 1. The Wall Street bulls. The persistent rise in stock prices during the recession puzzled many. The sharp break in November frightened some. But the rise since then is now exciting many who rarely get into the market. Although profits and dividends haven't justified the market, many buyers apparently are act- Ing out of inflation fears. Disturbed, then Heartened 2. The recession-recovery story. The sharpest postwar break In the economy and the speediest recovery first disturbed and then heartened the public. Thd recovery still leaves the jobless total stubbornly high, 3. Inflation present and future. The rising cost of living took front page space in the first half of the year. The fear that the present leveling off might be short lived worries many as the year ends. The steel, aluminum and auto industries raised wages and then prices. The Federal Reserve Board eased credit while the recession was still on, then tightened up fast to keep &e recovery within bounds. fraWUona fata 4. Passing of many corporate traditions. Anurican Telephone & Telegraph raised its dividend after years and split its stock three for one. The A. & P. -listed voting common stock on the New York Stock Exchange after years of all- family control. The House of Morgan will merge with the Guaranty Trust Co, of New York, changing its name as it becomes the nation's fourth largest bank. 5. The bond market. U.S. securities broke sharply, burning the figers of may speculators and embarrassing the Treasury. The Federal Reserve came to the rescue to stabilize the market, but bond prices stayed low and yields higher than for many blue chip common stocks. Red Ink Prevalent 6. Uncle Sam's red ink. Record peacetime spending and recession- hit tax collections sent the Treasury deficit to around 12 billion dollars. It marie the Treasury squirm as it raised money to meet its bills and it started the White House to talking about government economy again. After the Democrats swept the elections the Republicans talked loudly of the prospects of another government spending spree. 7. The Detroit story. Moat of the Full Capacity BATTERY RECHARGE i\ SPECIAL OUR METHOD OF CHARGING PUTS ALL THE POWER IN YOUR BATTERY IT WILL TAKE. IF YOU DO GET STUCK, CALL HE 3-3419 2 TRUCKS TO SERVE YOU. LOW SERVICE CHARGE. GOOD/YEAR SERVICE STORE 113 North Main HE 3-3419 year Was drab for the auto industry, and many Americans judge the economy by what happens in Detroit. Foreign cars and Ame'ri- can Motor's Rambler did record business. At year end Detroit was gloating over rising sales of its 1959 models. 8. Consumers hailed as heroes. They didn't panic In the recession and they didn't gft hog wild in the recovery. Spending dipped slightly as unemployment rose, but. still stayed comfortingly high and at year end was on the upgrade. Stocks Gyrate 9. Brinkmanship. The slock and commodity markets gyrated briefly as the United-States became Involved in crises in Lebanon, Quemoy and Berlin. Business planners kept a cautious eye on all the international developments — including the missile race. Defense is a business item as well as a,military one. 10. A steel merger kayoed. A- federal court said Bethlehem and Youngstown Sheet & Tube couldn't merge, possibly opening a new policy on mergers ana antitrust actions by the federal government whose effects could be wide spread. : • . No Word Yet From Britons Flying Balloon LONDON (AP) - Radio amateurs throughout Western Europe and North Africa failed during the weekend to pick up any message from four Britons trying to sail across the Atlantic in a balloon. Nothing has been heard from the balloon, the Small World, since Friday. Even then the crafts radio operator, Tim Eiloart, failed to give his position. The three ^ men and one woman set off 10 days ago from the Canary Island to drift with the trade winds 3,000 miles to Barbados, in the West Indies. The last reported position of the 4G-foot silver and black balloon was about 250 miles south of the Canaries. That was seven days ago. Claims Best Gift Is Canine From Pound .HOLLYWOOD (AP) - The besi present you can give is a timid, not too smart dog from the pound, says Rudd Weatherwax, trainer of Lassie and famous dogs. Weatherwax says he chooses acting dogs for brightness, cuteness and personality. "But if you want a nice pet, get a timid dog, maybe not smart enough to roll over. He'll give you all the love in the world." ORANGE FIGHT TOKYO (AP) - A non-title fight between World Flyweight Champion Pascual Perez of Argentina pnd Japan's Orient flyweight king Sado Yaoita has been set for Jan. 16 in Tokyo. BODY OF MISSING NURSE REMOVED —Police off jeers, haul the body of Mrs. Olga Duncan up the side of steep ravine in the hills near Ventura, Calif., where it was found in a shallow grave in the hills Sunday. Mrs. Duncan had been miss ing since Nov. 18 and officers say the victim's mother-in-law paid two men to kill her. All three are in custody. (AP Photofax) Most Legislators Against Plan of Integrating State Colleges With U. By ADOLPII JOHNSON Associated Press Staff Writer Minnesota legislators put solving the problems of higher education high on their agenda for the 1959 session, but few of them feel that integrating the five tSate Colleges with the University of Minnesota would provide the answer. Such a proposal was advanced in the 1957 Legislature with the backing of Gov. Orville Freeman and Arthur Naftalin, commissioner of administration. Make Dollar Go Farther They argued the plan would make the educational dollar go farther, avoid duplication and raise all public higher education in the state to a high level. Naftalin said adoption of the plan could give the state the best system of public higher education in the nation. Members of the Legislature do not agree. Of 94 who replied to an Associated Press questionnaire, 63 said they were opposed to bringing the State Colleges under the board of regents and only 17 said they favored the plan. A half dozen of these qualified their cultual schools in Waseca, Grand Rapids and Crookston. Regents are elected by the Legislature. Be Elected by Legislature A nine-member State College Board appointed by the governor is the policy making group for the five State Colleges, in Bemidji, Mankato, Moorhead, St. Cloud and Winona. The law requires that five of the eight members come from counties in which the colleges are located. It has been poposed that members of this board be elected by the Legislature. A third board, the state board of education, has jurisdiction over junior colleges. Coordinating Committee The legislative Commission on Higher Education will recommend Guards Rescue 4 Drifting in Gulf of Mexico to the Legislature that these three boards form a coordinating committee aimed at charting a single course for public higher education. Favoring "voluntary" coordination, the commission took no stand on the integration proposal. The commission also recommend ed steps to strengthen the state college board. Also scheduled to come before the Legislature as it deals with higher education is the recommendation of two interim commissions that four year college courses be developed to replace high level agricultural courses now offered in Crookston Morris. MEET IN DES MOINES GOP to Choose Convention Site, Work on 1960 Election Campaign WASHINGTON (AP) - Republicans will meet in Des Moines, Iowa, next month to pick a I960 convention site and start working on that year's election campaign. The five-day series will include meetings of a convention site committee Jan. 19-20, the OOP Executive Committee Jan. 21, and the full Republican National Committee Jan. 22-23. The site committee will receive bids from interested cities and may make a recommendation for action by the national committee later in the week. The meeting comes a week after a Democratic site committee receives formal bids at a New Orleans meeting Jan. 16. The Democratic group will report to its full committee Feb. 27. Seven cities already have submitted informal bids for the Democratic convention, and all are reported interested also In the Republican meeting. They are Chicago, Los Angeles, San Francisco, Miami Beach, Philadelphia, New York and Atlantic City. Television networks have been urging selection of the same city for both conventions. Cleans '59 Car With Gasoline Puff, It's Gone MOORHEAD, Minn. AP) — All Oscar Weiszhaar wanted was to have his new car all clean and shiny for the holiday season. What he got was face and hand burns, a demolished car, and a heavily damaged garage. The Moorhead man used gasoline Saturday evening to clean the upholstery of the 1959 Cadillac. He stepped back to light a clgaret and survey, his work. Fumes from the gas exploded, The national committee meeting, Chairman Meade Alcorn said, "has been called to begin Intensive development of a two-year program for the presidential and congressional campaigns of 1960." It will include study of last month's election results and of possible ways of strengthening the party organization. Problem of Insurgents Another kind of organization problem faced Republica members of the Senate an a group of GOP insurgents pushed efforts to take party control in that body. The small group of senators, variously labeled progressive, moderate and liberal, still has not agreed whom to back but one of them, Sen. Clifford Case (R-NJ) said Sunday he is sure they will unite behind a single candidate for the party's floor leadership. Case said he favors Sen. George D. Aiken (R-Vt), a leader in the Insurgents' movement, but Am. Prescott ficrsh (ft-Cofin) «ent tet- ters to the 84 Republican ttrit* tors boosting Sen. Jofm Sherman Cooper (R-Ky). AnothW effes mentioned ia Sen. Tbomat ft. Kuchel (R-Callf). Meet Dee, M The group will Meet again Dec. 30 to pick candidate* for thft lead* ership post and other party positions. Sen. Everett Dlrkwa (JMti), whose elevation to the leadership post they are opposing, said in a radio interview Sunday he did not know why he should be a target of their drive. Case, speaking out hi a television interview said the insurgents' move was not aimed at Dirksen personally but was an effort to make the Senate leadership mote progressive. AUSTIN (Minn.) HERAIO 0 Monday, Dec, 22, 1958 V V* PRICE ON ALL SITS INCLUDING TRANSFORMERS LIONEL ELECTRIC TRAINS and triggering the fire which destroyed the car. Some who said they favored some kind of integration, said they were not sure the regents were the proper group for over-all control. Single Governing Board "It seems only logical that our be A Christmas Message: Here is a young man who was born in an obscure village, the child of a peasant woman. He grew up in another village. He worked in a carpenter shop until He was thirty, and then for three years He was an itinerant preacher. He never wrote a book. He never held an office. He never had a family. He never went to college. He never put His foot inside a big city. He never traveled two hundred miles from the place He was born. He never did one of the things that usually accompany greatness. He had no credentials but Himself. While He was still a young man, the tide of public opinion turned against Him. His friends ran away, He was turned over to His enemies. He went through the mockery of a trial. He was nailed to a cross between two thieves. While He was dying, His executioners gambled for the only piece of property He bad on earth, and that was His coat. When He was dead, He was laid in a borrowed grave through the pity of a friend. Nineteen centuries wide have come arid gone, and today He is the central figure of the human race, and tht leader of the column of progress. I am jar within the mark when I say that all the armies that ever marched, and all the navies that ever sailed, and all the parliaments that ever sat, and all the kings that ever reigned, put together have never affected the life of man upon this earth as has that . , . One Solitary Life. C«-S»OM»riBf tht M«l* The Kehrals in »k» Chriitmot CooMit *v«r KAUS T»aigbt 7: JO , , under control of one res- Sunday in the Gulf of Mexico after drifting all night in their small fishing boat. Robert Duplant, 37, a Nederland, Tex., real estate man, Butchie, 16, Ronald, 13, and Donovan, 10, apparently suffered no ill night at single central governing board," said Rep. Walter K. Klaus of Farmington. "As presently con- stit'utionally provided for, the regents may not be the proper group sea. The Coast Guard spotted their 16-foot boat adrift 12 miles off shore. They had been missing since Saturday. Duplant said they encountered "The regent system of control j a ! °S when the y attempted to re- is too far removed from the voice! turn home - lost their wav and ran of the people for state and junior out _ of & aSi A stro "S northerly colleges," said Sen. Roy Wiseth of Goodridge. Under the present setup regents control the University of Minnesota, the Duluth Branch and agri- POLSON, Mont, (AP) — Frank' Davis, 106, believed to have beenj the oldest white resident of Mon-j tana, was foiuid dead at his home: LONG BEACH, Calif. (AP) — Saturday, apparently from old Yawns so Badly He Dislocates Shoulder wind blew them into the open gulf. Montana Man, 106, Dies of Old Age James L. Cockrell, 24, should j '< have stifled that yawn. He stretched so prodigiously in * ' I Davis was bom in France April; 10, 1852. He came to the United' yawning that he dislocated his [States in 1889 after serving in the! right shoulder and had to be hospitalized. The yawn came while Cockrell was attending a class in consumer education at Long Beach State College. Cockrell himself. is a school teacher, Prussian army in 1873 and seeing' action in the Boxer Rebellion inj China. j Voting is compulsory ia Ar-i gentina and women have the! right of suffrage in presidential' and congressional elections. i The Ideal GIFT FOR CHRISTMAS Bring Hearing by Christmas to your "Hard of Hearing" Loved One! Wow! 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MEN'S NECKWEAR Stilt a large selection at MEN'S HOSE - Cotton Argyle or Nylon Stretchy Hose MEN'S WHITE SHIRTS, By Van Huesen from VISIT OUR GIFT BAR You Can't Miss MEN'S DRESS GLOVES, MEN'S JEWELRY, MEN'S WOOL SHIRTS, MCGREGOR DRIZZELER GOLF JACKET $1.50 $1.00 $4.00 $1.00„, $3.95 from $1.50 MEN'S SPORT SHIRTS A Terrific Selection for Christmas Giving $ From 4 Up from from MEN'S.PARIS BELTS, BOYS' SPORT SHIRTS, $10.95 from $1.50 from BOYS' AKOM SWEAT SHIRTS, CO CA I from$£.9U * MEN'S AKOM SWEAT SHIRTS, from $2 95 I BOYS SUBURBAN COATS FOR CHRISTMAS , GIVING Still a Good Selection at Both Stores! Don't Wait Any Longer, But Hurry To Leuthold-Bauer Now, And Get Those Gifts Picked Out. DOWNTOWN AND STERLING SHOPPING CENTER tEUTHflLD-BfltTEH

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