Naugatuck Daily News from Naugatuck, Connecticut on December 15, 1949 · Page 2
Get access to this page with a Free Trial
Click to view larger version

Naugatuck Daily News from Naugatuck, Connecticut · Page 2

Publication:
Location:
Naugatuck, Connecticut
Issue Date:
Thursday, December 15, 1949
Page:
Page 2
Cancel
Start Free Trial

Page 2 article text (OCR)

FAGE B—NAUGATUCK NEWS (CONN.), THURSDAY, DEC. 15, IMS DREW PEARSON ON The WASHINGTON MERRY-GO-ROUND Drew Pearson Says: Snyder And Eccles Are Asked To Cease Their "Public Squabbling;" Eccles Wants To Discourage Dumping Government Bonds; Snyder Says Congress Is Re sponsible For Inflation Trends. Washington—The inflation between secretary of the Treasury Snyder and Federal Reserve dynamo Marriner Eecles attracted headlines a few days ago. But when the two men met behind the closed doors of a Senate committee, the final results of the feud were hushed up. It was Ijsnyder who, perhaps knowing h«_ would' be no match for the shrewd and experienced Eccles. insisted on a closed-door meeting. However, here is what happened. Present at the Senate session was Tom McOabe, popular, easygoing Federal Reserve chairman who agrees -with Snyder on most things, and who pleaded with both Eccles and Snyder to cease their "public squabbling" because of repercussions on business and the stock market. Eccles shot back that stock- market reaction to his disrpiute with Snyder was far outweighed by the future economic and financial welfare of the nation. It would -be better to have a showdown now, public or otherwise, he said, rather than wait until inflation hits us. "The press has made this a personal dispute between Secretary Snyder and myself, but It's not that at all," Eccles declared. "It's a question of deep, fundamental Policy that affects the future welfare of every man, woman and child in the United States. The Federal Reserve system cannot adequately carry out its obligation to control inflationary trends while the Treasury continues to borrow at fixed, low interest charges." The interest rate (now averaging about 2.2 per cent on long- and short-term government secur- should be somewhat higher Watched by Doctors SCULLY, FJorist Flower* for Erery OccMlon 4*0 BALDWIN ST. W»terbary UBO T. 8CCT.LT, Prop. PHONE WAT. 6-7280 HIS IIFT IYI removed recentlj because of a cancerous tumor In the eyeball, 20-month-old Douglas Kreuger Is playfully held aloft in his home in Milwaukee, Wis., by hii big brother, Stanley, 10. Doctors, knowing a similar condition in th« boy's good eye would necessitate it! removal, are keeping a close watch over the younitster. (International) For The Best In Jewelry BUCKMILLER Funeral Home 22 PARK PLACE Telephone 4334 FLOWERS For All Occasion* TKF,eOBAPrTED EVEBTWHEBB MELBOURNE'S FLOWER SHOP U» RUBBER AVENUE Eccles contended, to discourage dumping of government bonds by banks, insurance companies and other big purchasers! Also, - It should be more flexible, he argued, so the Federal Reserve Board could use it as a lever to prevent either an overexpansion or a tightening of bank credit. Interest rates on government securities naturally influence the rates on commercial loans, Eccles pointed out, and therefore the quantity of such credit—-which the Reserve System is expected to control. Well, the Treasury has obligations, also," argued Snyder. "Let the interest rate go up on government bonds and there will be a howl fro m farmers and other groups, who will then have to pay higher financing charges on private loans and mortgages." Turning to Senator Douglas of Illinois, chairman ot tho meeting, Snyder remarked that Congrona WUB chiefly responsible for Inflation trends "Jnfutlon oriirinntcft in the Congress," he commented, tartly "If Congress votes io appropriate great sums of money nnd then fin't innn-riKi: taxi;» to balance thl« upending, you tire making Inflation. You can't build up big deficits without taking risks." Kobhlne IVter The Treasury chief added that the low interest th c government was paying on its bond issues represented that much of a Having to the taxpayer and helped to balance tho budget. However, Kccle.s shot back that It did nothing of the kind, but WM.'I a R<>b-Peter-to-Fay- Pnul policy that actually cost tho taxpayers more in tho long run. Low interest rates on government bonds often lend to dumping by big Investors, who prefer to reinvest their money In leas He- cure, but more profHablo commercial loans, he explained. Since the Federal itesorvc system Is required by law to buy up the bonds dumped on thc open rnnrket, thin further Innrea.iefi National Rank ro«c;rve« against which more Inflationary money Is then Issued. Thn amount of money I Ho Trcrus- ury IB .Having by lt,s fixed, low Interest rate?,, is on iy „ pittance compared with H:t- future cost of Inflation -if Snyder continucM hln present policy, Kcclew warned. New England Steel Mill Site To Be Named Next Month East Hartford, Dec. 15— (UP) — The executivn director of the State Development Commission predicted today that a doclnion on locating a. steel mill in New England will be made in a month of two. And Sidney Edwards also - says the mill will not be a branch of on existing steel plant. Instead, it wi'.l be an independent New England corporation backed by the people ';n the area. Edwards Hints that some legislation to help finance constrao tion of the proposed mill will be needed. The New London area is bein^ mentioned as a possible site for the new industry. Other New England states are also putting in their bids for the mill. Hartford Executive ReelectedHeadOf Manufacturers Assn. (By United Press) The president of a West Hartford factory was reclected yester- dr.y as head of the Manufacture!a Association of Connecticut. William A. Purtell of the Ho'.o- Krome Screw Corp., was chosen to stay on for another year. Alao reclected were Vice-Presidcnts A. V. Bodine of Bridgeport and Franklin R. Hoadley of Ansonia. John Coolidge of West Hartfo.d will serve another term as treasurer. Christmas Assembly HeldByJurjiors A Christmas assembly for members of the junior class was held this imorning in the Naugatuck ffigh school auditorium, according to Miss Florence A. Anderson, guidance supervisor. George Mitchell, elates president, was chairman of the assembly and Mrs. King was family adviser. The program opened with a salute to the flag and the singing of America by members of the class. The Invocation wns delivered by Robert Mazeika and clas^i officers were introduced toy 'Michael Bryk. Violin solo» were played by Ello Volta, Christmas Carols wore play- nd by the Brass Quartet, under Milton Berkowitz, assistant music supervisor, nnd carols were simg >y the high school choir, under he direction of Jes»c F. Davis, director of music In the •public ic-hools. The program closed with he singing of carols T>y the rm- Iro JiHHMribl. Americans linn about 1,2150,000,000 •endls n year. FRESHLY OUT BALSAM XMAS TREES Of High Quality Go On Bale NOW |At The Y. M. C. A. WHILE THEY LAST A Volunteer Community Service Project of the Y's Men's Club gWC!€«C««e«tc«CNORMAN'S BEAUTY SALON GIVE HER A with a KOIt A. U)VIOI,V NATURAh-hOOKINi; PERMANENT WAVE Open Mon. Thru Sat. 0 A. M. to (i I'. M. Friday Niti* Till !) i'. M. 6522 NORMAN 'B BEAUTY 8ALON 87 MAPLE High School A Cappella Choir Concert Tomorrow The Naugatuck High school A Cappella choir will present a concert of Christmas music tomorrow evening starling :it. R:tr> o'clock in the Hitch .school auditorium, under the direction of Jes^c 'P. "Duvin, supervisor of music in the public schools. Barbara Burtnctt, a senior and voice student of Kathryn Hotchkiss Fenn, will render several selections and a bras.» quartet, under Milton nerkowitz, assistant to Mr. Davis and director of instrumental music, will participate. Following the regular 'ptt'ogram, the audience will participate in group Kinging. Proceeds from the concert will bp used to defray expenses of a trip to-New Haven next March, when the choir will sing with tho New Haven Symphony, on a youth program. Next Tuesday, Dec. 20, the choir- will be hoard in a 20-minute broadcast over radio station WBRY from 7:05 to 7:30 o'clock. The following day, Dec. 21, the choir will sing before the Naugatuck Rotary club at its meeting !n the YMCA cafeteria. During the week, it will participate in various Christmas assemblies at the High school. The program for tomorrow's concert Is as follows: "Jo:-:eph Came Seeking a Resting P!ace," by WilloughTjy; "Txj a Voice To Heaven Sounding," toy Bartnian- skl; "While By !My Sheep," Jungst; "Lo How a Rose 'Ere Blooming" Praetorius; and "Sing Noel, 1 " an Old French Carol. After intermission, the choir will sing "Sanctus,' by Gounoud, and Miss Burtnett will render throe solos, "The Virgin's Slumber Song," bv Roger; " "ris Snowing " and "C Holy Nig-ht.' Other selections by the choir will he: "Lot Carols Ring," a Swedish Carol; "Sleep of the Child Jesus" an old French Carol; "Gesu Bnni- bino," Yon: and "Carol of the Betlsi," a Ukranian Carol. The choir and audience will then join m the singing of several carols. XMAS PARTY Employes of the Naugatuck National Bank will hold their annuiil Christmas party tonight, A dinnr'- will be served at Hall's rentaiir.-inl following which the group will attend the New Haven Kamblera- 1-rovldence Reds hockey game at the New Haven Arena. He5d in Slaying AN IOWA UNIVERSITY psychology student, Robert Emil Bednasek, 24, is pictured after his arraignment at Iowa City in connection with the strangulation death of Margaret Anne Jackson, 20, a student at the same college. Bednasek asked for a preliminary hearing but did not enter a formal plea. The court set hearing for Dec. 21. (International) it: Students Collec! $750 For Widow Storrs, Deo/. 15—(UP) — Som.e $700 has been collected at the University of Connecticut for the widow of a student and her infant son. The -money is a Christmas gift to Mrs. Moselewskl o£ Hartford whose husband, Ralph wns killed in ;m ncident in Pennsylvania several weeks ago. Mennwhile, students hope to r.-UKo more money through a dance si rid other projects. Housing Authorities Reminded Of Deadline Next February 15 Hartford, Dec. 15 —CUP)— Governor Bowles reminded local IIOUH- ins authorities today that nfxt. Fob. IB is the deadline fo\- having all projects ready for bids or under construction. The governor sent a letter to "3 local housing authority chairmen, noting that 31 municipalities have loans earmarked for them, to provide a total of 6,012 units. He 'idd- ea that 15 projects already arc under construction, eight more are completed, and two additional ones, at Meriden and New London, are scheduled to be started shortly. Bowles congratulated the chairmen for meeting the December deadline for obtaining sites mid architects. Railroad Wants To Abandon Bus Line Officials of the New Haven railroad will appear before the State Public Utilities commission at Hartford Jan. 5. The railroad wants permission to abandon its bus line between Norwich and New London. The line connects with the New York to Portland, Mo., train known as the State of (Maine Express. Ocials say that since the line was set vip in 1946, it has lost 'more than $25,000. Continuance Given Naugatuck Resident on .1 chnrg'i of obtaining money under falne pretenses. Pros. Ally. James McGrath :;aid Gucciardi was nrrostcd on complaint of Modest Firm - of Waterbury, who claims he g;ive Gucciardi A continuance to Dec 29 under I* 1 ' 000 Ul invest in a trucking busi- ;neKs, on .1 partnership basis. "• ' The prosecutor said Pirro claims bond of $2,500 was granted I.c< Gucciardi, 24, of 79 Woodbine-street today in Waterbury City Court the truck involved was actually owned t,y Guccinrdi's father. Fire Destroys Trailer Home Berlin, Dec. , 15—(U P) —Fire destroyed a trailed home today, forcing ite two occupants to flee in their night clothing-. Libero Tralevis and his wife, Mildred 1 , escaped unhayned. Police said the flames raged through the trailer so fast that the couple was not able to save anything but the elotheis they were wearing. SANTOS GENERAL REPAJE8 Radiator*, Batterlo* (Vaulting Mitchlnnn, Baby Carriage* Bicycled, Soldering LAWN MOWERS SHABFSNJCTJ 4fiO Ttnhrwr Ave. Phone 8877 NATION ALLY . Check These .Features! / 3 COATS OF PORCELAIN OH TOP 8 pound capacity lub, firmhud mslda and out wil^i CUii.iU.' porct-l.nn E.^y to Vk<j»l ^ PRECISION-CUT TEMPERED STEEL GEARS Gear C<HP TTmrrirtimm-opera! e » quietly in bnlti of ill, \rnrt fred Inhfiradori Io beanngs flhove c'll I.W - WRINGER TOUCH RELEASE BAR Mjy b(? op( nlc-d fiom'ony ,ingl« 01 PO'.iticn Ihf »|.irn-ii '.ou'li JJ-KMWV, r'.ll lciui..>n. - ONE-PIECE CHASSIS CONSTRUCTION Elertrunlly wi'loVc/ ch/mii tupporlfqcar one <ii, • '.ctnlily arid w.nh^t tub, dsiufin'g peitecl aiiijnrnprit / NOK-TANGL1NG AGITATOR fxlu-ldije .-ion urgling agit^toi,. Scicotificoljy detiqned wm^i ,. g"ve> »upe-'-ir •^•i.liir.-.] jchoi willioul tangling clothes ^VIGOROUS WASHING AT;ANY LEVEL ^ Ma.y be- operated with jucccssfuk iff-.olls .11 ASJY walet. level, with ANY amount ol clotnes up to '8 pounds. / STURDY, HEAITY DUTY HRIHQER Extia large, sod Balloon wfingcr roll', that w.jn'i break buttons Wongs a sheet 01 handUirhicf equally dly FOR A LIMITED TIME ONLY •^i^ 36 pc. Matched Cannon towel Sell For Bilhroom and Kitchcft-iviiUUi in your cholc« ot colon.whKi, Wu», yellow, st««n, and fUmlnjo, FamouJ Cannon Quality. ; 1$ # INCLUDED WITH THIS FAMOUS ABC WASHED ' '* $ H9.95 TEEMS Weekly arlson's V##3*3 4£*'l$& <• Six Pot Holden Open Thursday, Friday & Saturday Evening This Week Coupons on tho Automobile Given With Every Sale Savings Guaranteed On AH Jackets BOMBER JACKETS Water Kppollnnt Shr-li Alpaca Lined Throughout FRIDAY ONLY Boys $7.75 up Mens $7.95 up TANKER JACKET Ma<lc io Original Gov't Sp«-ciflcallnn* $7.95 all sizes Turtle Neck SWEATERS All .'Sizes — N»vy B'ue $2.45 FULL SELECTION OF WINTER JACKETS FOH MEN AND 3OYS HE ARMY & NAVY SURPLUS STORE 24 SOUTH MAIN STREET Naugatuck phone 6919 OPEN OAILY 9—6 — FRIDAY NIGHT TILL J P. M. Buy This Year Pay Next Year I * NATfONflLLY • MA FAM01JS I Vt? WATCHES "GODDESS Of TIMI" 17 J«w«lt $37.50 $7.00 A W«Jt "VIKINO" 15 J.w.l, $37.50 $7.00 A W..I "HER IXCIlltNCY" 21 Jcw.lt $52.50 $1.00 A W«.lt "SQUADRON" 17 J.w.lt $55.00 tl.OO A Wnk CIRCLfni BAND 15 J.w.li $39.75 $7.00 A W..lt I1GIN DELUXE 17 Jow«li $57.50 Eosy T.rmi IADY EtOIH 19 J.w.li $100.00 Gaty T.rml lOJD UCIN 21 J.w.l, $115.00 Y»or To fay "JUSTIN!" Inpontlon Bond $29.75 $7.00 A W.. "INDURABU" S.cond Kond $33.33 $1.00 A W..fc "CIIAMOND BITH" 2 Dlomondi $49.50 tl.OO A Wnk -HARtlSON- 17 J.w.U $45.00 Jr.oo A w»»k USE YOUR-CREDIT • Pay N«xt Year JEWELERS CKED/T To 127 BANK STREET LEWIS CARROLL Thfi Denier on lh« CKN'l'KH H<JU.\lli: — COIINEII PBOBl'ECT * UMOJf MTItKBTH n*rcli>7 Til* Hoard Chrom. Trin Dodr Frkinni Whnlow Nmiii * Fr»nin 1'Klnti floor Mtmiitr* lor H«iM ft K IIM4 Ni-.v * I'.'T')ntll(lonml Mnlora FOKO * MKKCI ,-RV Itlirl^ft IMlin Avnlltthlr The NAUGATUCK FUEL CO, m.AI.KK l-himr S2SI

Get full access with a Free Trial

Start Free Trial

What members have found on this page