LOGANSPQRT PUBLIC LIBRARY Annual Tribute To War Dead I I T f I II Ij RAIN WE SPONSOR ONLY THE WORTHWHILE LOGANSPORT, INDIANA Founded in 1844— Leased United Press International News, Photo Wires. TUESDAY EVENING, MAY 29, 1962 For All Newspaper Departments p er Copy> Ten N. Y. STOCK TRADING HEAVY Announce Memorial Services Patriotic and various city organizations will participate in the •observance of Memorial Day tomorrow as Logansport pays its annual tribute to America's war dead. All public offices and retail stores, together with the city's industrial plants will be closed in order to permit all employees to participate in the observance. City, county and state traffic officials have warned motorists to be extremely careful while driving on the highways during the first holiday of the early summer season. Automobiles in record numbers are expected to jam highways and drivers are urged to stay alert, drive defensively, and avoid accidents. THE DAY will feature a parade that will start at 10 a.m. at Seventh Street and Broadway. Participants in the parade y will include veteran organizations and their auxiliaries, the Logan Legion Lassies, the American Legion band and girl and boy scout groups. The main address of the day will be delivered in Ml. Hope cemetery at 11 a.m. by Col. James Gueydan, of the Bunker Hill. AFB. Brief ceremonies will be held in front of the World War II honor rpll and the doughboy monument at Sixth Street and Broadway. Father Thomas Fox will conduct special services for the naval dead as the parade proceeds to the Eel River bridge on Sixth Street. IN ADDITION to the main address, musical selections will be furnished by a vocal trio and the band on the speakers stand near the entrance lo the cemetery. Final short services in the Legion Circle in Mt. Hope will conclude the observance, Conrad Baumann, chairman of the committee in charge of the parade, said services will be held in Memorial home in case of rain. During the ceremonies 'a six man firing squad from the Logansport National Guard will fire volleys at Sixth Street and Broadway, the bridge and in Mt. Hope cemetery. TWENTY Legionaires traveled 138 miles and placed 167 geraniums and flags on the graves of servicemen in 30 cemeteries Sunday. The annual trip started at 8 a.m. and concluded at 3 p.m. The ladies of Bethel church in Clay township served a carry-in lunch to the Legionaires during the noon hour. The Weather Forecast Northern, 3rd Indiana , Partly cloudy and warmer this afternoon. Occasional thunderstorms this afternoon and tonight. Wednesday clearing and a little cooler and less humid. Low tonight lower 60s. High Wednesday 78 to 85. Sunset today 8:05 p.m. Sunrise Wednesday 5:20 a.m. Outlook for Thursday: Partly cloudy north, fair and a little cooler south. Lows 57 to 65. Highs 76 to 87. MONDAY U a.m ....... 64 Noon ........ 69 70 71 7K 82 85 51 7 p.m ....... 79 8 p.m ....... 73 9 p.m ....... 71 JO p.m ....... 68 11 p.m ....... 69 Mid ......... 68 Ip.m 2p.m 3 p.m 4" p.m 5 p.m p.m TUESDAY 1 a.m.. .....67 2 a.m ....... 66 ;ia.m ....... 65 4a.m ....... 64 5a.m ....... 6(i 6a.m ..... ..68 7a.m. ...... 70 ffa.m....'...72 9 a.m lOa.ra lla.ni Noon.. Ip.m 2p.m High Year Ago— 71 Low Year Ago— 52 Barometer Bam. at 2 p.m., 29.75, steady , River Stage River at 7 a.m., 3.73 75 79 82 85 87 88 Walton Man Dies as Car Rams Truck William G, Murray, 28, of Walton, a former Bunker Hill AFB airman, was killed shortly after 9:30 p.m. Monday when the 1950 sedan he was driving collided with a tractor-trailer combination on U. S. 35, one mile north of Walton. Driver of tlie truck, James Remley, 35, of rural route 1, Lo- gansporf) was held in Memorial hospital Tuesday for observation. ACCORDING to investigating officers, Murray was driving south on the highway and Remley, driving the semi-trailer owned by James Farris, of. 412 Wheatland ave., was going north. Investigating officers believe Murray was on the wrong side of the highway at the time of the accident. The trailer was empty. Remley told officers that when he saw the Murray velu'cle was not going to return to its proper lane, he turned his truck sharply to the left in an effort to avoid the crash. However, the vehicles crashed head-on, MURRAY was taken lo Memorial hospital in the Wolf ambulance of Walton. He was pronounced dead on arrival. Murray's automobile was a total loss and damage lo the trailer was estimated at $10,000. Traffic was tied up for nearly an hour by the truck that had stopped across the highway. At one time officers estimated 100 automobiles pass. were waiting lo Murray -was shoved against the steering wheel of his car and is believed to have died from head and chest injuries. A sergeant in the Air Force, he was discharged in April of this year. He had been farming near the base since that lime, INVESTIGATING officers were State Trooper John Gaylor, Sheriff Bernard Leavilt, Deputy Sheriff Robert Riesling and Walton Town Marshal Harold Slusher. Base officials listed survivors as the widow, Bessie, and three children, Rickey, 7; Wade, 5; and Linda, 1. Friends may call at the Wolf funeral home after 10 a.m. Wednesday. The body will be shipped io Tampa, Fla., on Thursday. Final rites are pending in Florida. Severe Storms By United Press International A severe thunderstorm was issued for parts of Southern and Central Indiana for 3 p.m. io 9 p.m. today. The forecast, issued at 12:30 p.m., said "scattered severe thunderstorms" were expected in an area "along and 60 miles eilher side of a line from Cape Girardeau. Mo., lo 60 miles northeast of Indianapolis." U. S. TEMPERATURES NEW. YORK (UPD-The lowest temperature reported to the U.S. Weather /Bureau this morning was 32 degrees at Drummond and Butte, Mont., and at Redmond, Ore. The highest reported Monday wias at"' Laredo, Tex. NEW LOOK ON MELBOURNE—This view of Melbourne Avenue, looking west from Fifth Street, shows how a parking lot has taken the place of the old Pennsylvania Railroad depot. Melbourne was scheduled to be reopened to traffic late Tuesday afternoon following the completion of the widening program. (Staff Pholo.) Bad Storms Continuing By United Press International Violent spring storms hit parts of (he nation from Nebraska south lo Texas and east to Florida Monday night and early today with twisters, lornadic winds, hail and heavy rain. in Texas, winds ripped down power lines at Paris, hail shattered auto windshields - -at—Knox Cily and a small lornado at Irving partially unroofed the Plymouth Park Baptist Church. Heavy thunderstorms in Dallas shredded power lines, unroofed one building and damaged cars in the Oak Cliff section. A twister was spotted at Rock Springs, which was' pelted with baseball-size hail'. Funnel clouds skirted Galesburg, Geneseo, Woodhull, Pepria and Galva in Illinois. Trees were uprooted and several buildings flattened near Geneseo. State police said Iwo twisters spiralled through Woodhull, damaging one home, Thunderstorms hit virtually all of Oklahoma. One tornado smashed a truck loaded with a combine near Ingersoll, but the driver escaped injury. Other twisters were sighted near Stillwater, Redrock,- Heyiburn Lake, and in an area about 50 miles southeast of Oklahoma City. Snyder, Okla., got drenched with 3.21 inqhes of; rain and was pelted, with marble - size hail. Winds of up to 80 miles 'an hour whipped Shawnee, Okla. Four tornadoes touched down in Missouri and Kansas, smashing farm buildings and utility .poles. Near Dover, Kan., the Weather Bureau said some homes were reported "twisted." A garage near Rock Creek, Kan., was lifted from its foundation and tossed on a highway. Three lo five.inches of rain drenched parts of Eastern Kansas. A tornado was sighted near Ottumwa, Iowa. Winds with gusts up to 85 miles an hour and hail lashed- Cedar Rapids, Iowa, -and' up lo four inches of rain drenched towns on 'the western edge of the state. The hail and rains brought flood threats to areas in the Plains and Midwest. Contracts No. 15 and 16 for the electric utility expansion program,' amounting to $109,095, were awarded by the board of. works during the weekly meeting Tuesday morning. Contract 15; covering ash and dust handling equipment, was given to Ihe United Conveyor Co., of Chicago, 'on' a"bid or$3l;370. Contract IB, for combustion and boiler control equipmenl, went to Ihe Bailey Meter Co., of Cleveland, Ohio, on a bid of $77,825. BOARD OF WORKS $' 109,095 Let In Utility Contracts 'Summertime' Days Planned The "Good Old Summertime" days will be observed in Logansport's retail stores Thursday, Friday and Saturday of a week in July to be determined, according to a decision made during a special meeting of merchants Tuesday mom ing. The members of the retail committee of the Logansport Area Chamber of Commerce, meeting in a special session in the Chamber offices, named John Bart general chairman for the first annual event. • • The observance will find all Logansport stores offering special bargains both inside and at special, counters on "the sidewalks and captains for each block in ths business district will be named to assist in the promotion. Bernell Combs, chairman of the retail committee, presided during the meeting. The awards -were made after six veeks of study by the consulting engineering firm of Emery, Marker and Campbell, of Toledo, Dhio. Neither of the contracls went to the. low bidder. Although the Bailey bid . was nore than $13,000 higher than he only other bid received, H. M._ JeBoe said it was his firm's bpin- on that "Bailey is, the lowest responsible and best bidder on equipment conforming to the specifications set up for the contract equipment." De Boe's recommendation that :he contract be awarded to Bailey also, said, "Part of the equipment offered by Bailey in our opinion s superior. Bids were not made on directly comparable equipment and the prices varied accordingly, bid from the other manufac- urer did not meet the* specifica- ions In all respecls." The olher bid of $64,602 was submitted by the Republic Flow Meters Company of Chicago. The bid from the United Conveyor Co., compared to one from he Beaumont Birch Co., for $31,285 and one from the Henry Thompson Co., for .$32,395. The board met Tuesday, one day early, because of the Memorial Day holiday and without John Rinehart, city engineer, who was out of'the city. The board signed authority for he payment of bills amounting o $73,220.92, including bonds and nterest for the Water Works totaling $52,387.50. High way Toll Up By United Press International Eight-.deaths in four Indiana traffic accidents Monday night and early today cast' a gloomy pall over. preparations for the Memorial Day holidiay and sent the 1962 toll soaring to at least 415. '' _______ No Paper Wednesday ; Because of the Memorial Day holiday, there will be no issue of the Pharos-Tribune on Wednesday evening. The iiext issue of the Pharos-Tribune will be on Thursday evening. 7 New Eagle Scouts Seven Boy Scouts from Bunker Hill Air .Force Base were awarded Eagle badges in a court of honor Monday night at the base gymnasium* The ceremony, a combined effort of the base's four Scout troops, was attended by nearly 300 Scoulers and parents. The seven receiving the badges were: Patrick Graham and Evarice Mire III, both of Troop 69; and Albert A. Marra, Walter B. Kohlun, William B. Kohlun, Edward L. Stout IV, and Edward Elder, all of Troop 66. The presentations were made by Hugh Markell, executive of the Threes Rivers council. The boys, in turn, presented miniature Eagle pins to their parents. Scout Ed Elder received recognition for his saving a child from dirowning at the base swimming pool on Armed Forces Day. National Boy Scout honors will be presented to the youth at a later date. . Thorn Huffman, presently an Eagle Scout, received a Gold Palm in recognition of postrEagle rank work. The Life Scout award was presented to David Faulise. Jerry Brown -.and Phil Vooz were awarded First Class badges. Second Class badges were presented to Billy Mills, Mike Harak, George. Andrews, ' Mike Adaip, Kenneth Cook, Steve Hilt ..and Jimmy Barker. • •'. Scouts receiving Tenderfoot badges were Michael Heppler, Robert Bobinson, Danny...-Hi!!?, and Martin Clark. Danny .Mills received a one-year pin and Billy Mills received a : twq r year pin. ; Merit badges ' were ., presented to David Faulise, Evarice Mire IH, Douglas Wood, Pat' Graham, Phil Vooz'and Patrick Davis. Col. William Bpwden, past chairman of the Eastern district, was • presented with a Scouting emblem in .honor of his service lo Scouting. . "Master of' ceremonies for the event was Maj. George Simpson. Welsh Screening Replacements INDIANAPOLIS (UPI)-Gover nor• Welsh told a news conference today he probably; will replace three members of the Indiana' War Memorials Commission which defied his request to permit. the Indiana-Civil-Liberties Union to meet in the state-owned structure. •Welsh said he is "screening replacements" for Dr. Harold Hal- leek, Winamac; John R. Goodrich, Winchester, and Alvin Obenchain, South Bend, whose terms expire June 18. Halleck, brpther of House minority leader Charles Halleck, and Goodrich' 1 are Republicans: Obenchain is a Democrat. FIRST WALTZ BORN IN 1770 IN GERMANY "Ach Du Lieber Augustine," composed in 1770 in Germany, was the first waltz. And you'll waltz with joy when you see how quickly, easily, economically everyday problems are settled through Classified ads in the Pharos-Tribune & Press! . To sell, buy, rent, hire or re. coyer something you've lost, dial 4141 for an ad-writer. "•• i ; Pharos-Tribune & Press FAMILY WANT ADS Phone 4141 Weatherman The ; weatherman had trouble making up his mind today what the weather will be like in Indiana on Memorial Day. Earlier forecasts of cooler with partial clearing by noon Wednesday in. the central and southern portions oi the state were revised at noon to indicate, showers and scattered thunderstorm's will continue into'lhe afternoon, and temperatures will remain warm. "Showers and' scattered thunderstorms tonight and Wednesday followed by partial clearing wesl central in afternoon," the forecasts said. "Highs Wednesday mostly in the 80s." The prediction of clearing and "a little cooler and less humid" Wednesday in the northern third of the state remained in effect. The earlier forecasts indicated clearing and cooler conditions a1 Indianapolis by 'the time the 500- mile race opens at 11 a.m, EOT. Hodges Asks Tax Cuts WASHINGTON. OUPIJ - Com. merce Secretary Luther H. Hodges called today. f ( or cuts in individual and .• corporation in come lax,. possibly this year, to stimulate the nation's economy. Hodges also said he favored early announcement of faster tax write-off 'schedules for business by the Treasury Department as another government measure k boost business confidence. The Cabinet officer told a news conference he ..did not bclieve ; however, that the sharp decline in stock market prices would have any -"real serious effect" on the economy. Some Issues Showing Gains NEW YORK (UPI)' - Heavy trading, above the levels of Monday's huge market, swept stock exchanges here today and, with the tapes running late, flash prices showed gains for leading By 11:45 a.m. CDT these prices showed Standard of New Jersey up $4.38 from its close of Monday; American Telephone and Telegraph, the nation's most widely iifild stock, also up $4.88; U.S. Steel up 88 cents; General Motors, which earlier had been under Monday's close, • unchanged; Bethlehem Steel up $2.38; Sears Roebuck up ?4. At 12:30 p.m. CDT the ticker was lagging 71 minutes under the deluge of more than five million shares traded during the first three hours. This compared io 3,290,000 shares during the same period Monday when the market took its sharpest break since 1929. Trading on Ihe American Slock Exchange, second largest of the nalion's exchanges, was at 2,610,000 after only two hours of trading, dose to its figure for the entire day Monday. Stock markets in Europe, Canada, Western Europe and Japan reflected the wave of selling thai resulted in, a "paper loss" of $20.8 billion Monday on me New York stock .market. London reported ils heaviest one-day drop in years. International stocks dropped as much as 60 points in Amsterdam. Heavy selling of German stocks was repirlecl. By 11:30 a.m. CDT lie New York Stock rExchange ticker was running 46 minutes behind actual trading. More lhan 4,000 visitors watched Monday when the market hit its heaviest volume since 1933 and Ihe popular Dow Jones average of industrial stocks took its steepest one-day drop since 1929. Traders — the professionals — were hopeful that the market might soon show signs of hitting a level from which it would lurn upward, a so-called lechnical level. But few ventured a guess when it would be reached. By the usual signs, it was overdue. Some Heavy Blocks Some heavy blocks of slocks were coming into the market to> day, represenling bunching ol small orders. American Telephone and Telegraph, Ihe nation's most widely held stock, made its first ticker appearance an hour after market opening, 50,000 shares at 98 1 /; off 2'/ 8 . Du Pont was off, along with other major issues. A few stocks were declared "late in opening" by the exchange because of an accumu- 1'ation of sell orders. European stock markets tum> bled today in Hie wake of Mon day's huge New York sell-off. In London, Paris, Duesseldorf, Frankfurt and Zurich the Wall Street selling heavily influenced sales of foreign and international stocks. The paper loss Monday was estimated at $20.8 billion under use of a formula involving changes in averages and the lo,al number of issues listed on the slock exchange, with allowance : or slock splits and stock dividends over the past few years. Under an older formula, the loss was set at $28.5 billion. Large blocks of stocks, some of 10,000 and 12,000 shares, appeared on the ticker tape shortly after the opening of the nation's largest securiteis markets. Most issues were off, and many analysts watched closely for signs that ttie market might reach a bottom point and start an upward turn. Such a development did not show in the early trading. By about 9:45 a.m. CDT, the ticker was running seven min- ules lale. Traders and Ihe public trying to assess what happened Monday were hopeful thai long - range .factors would begin lo bring some influence on the investor; that the over-all favorable points in Ihe economic picture would counteract what to many seemed more lhan a normal shrinkage, and would check what some described as largely "emotional" selling. G. Keith Funston, president of the exchange, said ihal Monday's dealings were "nothing more lhan a manifestation of a free economy." A Wall Street house said that the market was merely making up for "speculative excesses" of the past three or four years, and that stocks were "becoming realistic." In assessing Monday's market, some statisticians reached back to 1929 and to 1933 for comparisons, although there were factors present in the market tlhen which do not exist today. Volume of 9,350,000 shares was heaviest since the 9,572,000 of July 21, 1933. The drop in the Dow Jones average of 30 industrial stocks, down to 576.93, was . 34.95 points, biggest single day's, drop since (he 38.33 of Oct. 28, 1929. Of 1,375 issues traded, 1,212 lost and 75 gained. At (he close of trading, the ticker tape was 69 minutes behind the actual transactions. This is the standard by which the exchange measures, the lateness of ils reporting while trading is in. progress. But the cleanup, the more detailed reporting of all transactions and price changes, ran until 5:51 p.m. on round lots, and eight minutes later on other figures. Why?... Why?... Why. WASHINGTON (UPI)-Government economists today viewed the stock market plunge as a setback for President Kennedy's campaign to speed" economic growth but renewed their forecasts of a continued business upturn this year. Federal officials said there was nothing in the economic outlook to justify Monday's stock market decline, the sharpest since "Black Friday" signaled the start of the depression in 1929, Some economists said they felt stocks have been over-priced for loo long and a sell-off was overdue. One said he felt the market has just- about touched bottom. None predicted any repetition of the 1929 crash. Several 1 private economists, however, viewed the downward spiral of: blue-chip stocks as a. sign o.f trouble in the months ahead.. Leon Keyserling, chairnjan of former President Harry S\ Truman's Council of Economic Advisers, said the decline "is clear- ly signaling that we are on the i also could make it easier to buy way lo a- recession by 1903. Recovery Was Weak He said the severe drop in prices was Wall Street's way of saying that the recession recovery was weak and the economy is not •in good shape. ; Keyserling said the Kennedy administration was obsessed with fighting inflation when il should be overhauling its policies lo build up demand for goods and services. The disturbing developments in Wall Street led by speculation on possible courses of action by the federal government. One step, already suggested by some advisers, would be to have the President make announcements that would reassure jittery stockholders. While House word on a proposed reduction in income taxes for individuals and corporations, for example, would be sure to nave a steadying or stimulating effect. The Federal Reserve Board slocks by lowering the amount of cash required as a down payment. This amounl—called the margin requirement — is now established by law at 70 per cent of the purchase price. The Federal Reserve Board» which meets daily to review economic trends, was reported to regard the tumbling stock prices with serious concern. Kennedy's crilics have contended that his unprecedented power play to reverse the sleel price increase last April hJB^led to a mounting loss of business confidence in (he administration. Many business executives argue that profits must be higher to encourage investment since wages and other costs have placed a squeeze on earnings. A leading government analyst said the market slump was "the worst thing that could happen" to Kennedy's plan lo put the economy in high gear and permit higher profits, wages and employ, ment.
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