Globe-Gazette from Mason City, Iowa • Page 40

Nov. City, It. Not everyone shares views of better times for stocks By SAM DAWSON AP Business News Analyst NEW YORK (AP)-The stock market still has its skeptics. A record volume of short sales shows all the bullish talk about better times coming for business and for stock prices isn't an unanimous opinion. Nor has ail the sudden flow of optimistic forecasts convinced everyone that a recession isn't likely next year after ail.

Even the outpouring of pleasant statistics on the economy in October and No- vember leaves some businessmen cold. The majority, however, is still optimistic--as is fitting at this season. And many brokers ttiink that the record short-sales volume, as reported by the New York Stock Exchange for Nov. 15, was already in process of dwindling. The number of shares sold short as of mid-November was 6,785,894, more than double what it had been a year earlier, and also more than twice the volume May 15, two 50,000 of Cubans are resettled By THEODORE A.

EDICER MIAMI, FJa. (AP)-Cuban refugees, concentrated in Miami during the early stages of their flight from Fidel Castro's dictatorship, are scattered throughout the nation. When Fernando Hernandez, 25, left this month with his wife and 9-month old daughter to start life anew in Los Angeles, he became the refugee resettled from Miami to other cities. The 50,000 are in every state except Alaska, and in Puerto Rico and the Virgin Islands. More than twice that number remain in the Miami area.

More than 2,000 babies have been born in the United States of Cuban refugee parents. They are native American citizens. Thousands of other babies have been brought from Cuba by plane and boat. "The Cuban refugee situation has wider impact than any other such movement in the last said resettlement director J. Arthur Lazell, who also with the Hungarian refugees in 1956-58.

When the day comes the Cubans can return--and refugees generally believe it will not be longbow many will go home? Lazell believes 10 io 15 per cent will remain in the United States. That means well over 12,000 in Miami and between 5,000 and 7,500 elsewhere. Other estimates are higher. Since most exiles have refugee rather than immigrant status, congressional action may be required to facilitate their continued U.S. residence.

Such action was taken for Hungarians in 1958, and 38,000 still are in America. Uncle Sam has spent some $60 million in relief for the Cubans. More than $2 million monthly goes to the Miami area. Federal relief payments amount to a $100 maximum per family, with the average $90, and a $60 maximum per individual, averaging $54. There are additional state food grants.

To help Cubans resettle outside refugee-congested Miami, where most cannot find jobs, the government pays plane fare and $100 per family to get started. (weeks before Black Monday. But brokers say most of the short-interest contracts probably had been made when pessimism was deepest at the start of the Cuban crisis, the week of Oct. 22. It may have reached as high as seven million or more.

As the crisis eased, many shorts are said to have started running for cover. A short sale means that someone thinks the price for that particular stock is going to drop. So he borrows some to sell, hoping to replace it later with stock bought at a lower price. It also means that the short seller has to buy stock some time to repay his debt--whether he makes money by buying at a lower price, or loses by having to pay more than what he got when he sold. And therefore brokers figure that the record volume of shor sales this month means that ther is a potential demand for mi lion shares--a nice cushion for th market if it runs into trouble.

Short selling is one of the riskie ways of trying to make money the market. And brokers usuall try to dissuade smaller investor from taking the chance--a sudde rise in price, such has been hap pening in the recent bull marke could wipe them out. The Stock Exchange reports tha the total short interest in odd-lo dealers' accounts was 62,79 shares. Odd-lots, those of less tha 100 shares, are usually those trad ed by the small investor who can afford the round-lot of 100 shares Brokers also point out that th reasons sparking short sellin vary from stock to stock. The Cu ban crisis may have deepened th impulse, and so may the feelin more recently that after days rising the market may be clue fo a drop.

But more likely the reaso was what the seller thought of th prospects of the stock of the part cular company. ON SALES FORCE CHARLES CITY-Merlyn Albaugh has joined the sale force of Burroughs Wellcome Tuckahoc, N. pharmaceutical manufacturer as a medical representative i Omaha, Neb. Albaugh is a grad uate of Upper Iowa University Fayette. He is the son of Mayo and Mrs.

Lee Albaugh, Charlc City. WINTER FANTASY SWALEDALE "Winter Fan tasy," the Swalcdale Garde Club's winter flower show, wi be held at the Swalcdale gym nasium Wednesday, Nov. 2i from 1 to 4 p.m. There will a silver tea and a sales table cookies and other items. It i open to the public.

HUNGER Hurts CARE Helps Your CARE PACKAGE provides the piece of bread and the cup of milk that these children arc given at school overseas. It may be the only meal they have all day long! EACH DOLLAR you send to CARE delivers 27-pounds in your name --milk, Hour, cornmeal and other items from our farm abundance. Individuals do it, businesses do it, classrooms do it, organizations and clubs do it they send CARE because hunger hurts, and CARE helps! REGIONAL OFFICE 125 E. Wells Milwaukee 2, Wis. Enclosed please find $.

for CARE PACKAGES fo be distributed, In my name where they aro most needed. My Name. Competition for Yankee investments By SAM DAWSON AP Business News Analyst NEW YORK (AP)-Americans as well as foreigners are competing today for the Yankee investment dollar. Perhaps the most competitive market of all just now is that in which long-term investment funds are sought. It is beset by clamoring groups seeking the wherewithal to develop the frontiers of which the world still has a huge supply.

There are a lot more frontiers than there are dollars. This clamor is far from re stricted to the new nations--the industrially underdeveloped of which so much is heard. Many American states and communities have competed in recent years for the funds needed to turn once agricultural economies into industrial complexes. The pitches have ranged from new markets, tax concessions, cheaper labor, climate, superior resources. Some have been remarkably successful.

Some localities haven't been able to sell their stories to the bankers and other investment sources--perhaps as much as anything because there just wasn't enough money to go around. And many of the most successful, like fast-growing California, still hit the money markets regularly, both to build state facilities and to get new capital for growing industries or for newcomers linked to the space age. The 49th state also is seeking development capital today. Alaskan government officials and business are in town to tout the resources just waiting for the Midas touch of investment funds. And one of the spokesmen stresses that our own Alaska is one of the most underdeveloped lands in the world.

Just now Alaska is out to interest New York bankers and other investment fund sources in a bond issue--an $18-million program for the newly formed Alaska State Development Corp. And its pitch goes far beyond just the underdeveloped resources of the northernmost state. Alaskans have their eyes focused far on the horizon, the role they see their state playing in developing the potentials of all the lands bordering on the Pacific. Some see a chance that the Pacific lands, from Alaska to Australia, some day might develop a trading bloc like the spectacular PRACTICE FOR WORK Fireman Vic Dietz (left in Picture above) and Mayor George E. Mendon load Acting Fire Chief Clifford Pierce with pancakes in practice for the Muscular Dystrophy Pancake Dav to be held Saturday at the Moose Lodge Home The mayor (picture at left), a short-order cook years youth sh firemen his pancake-flipping- skill.

These men actually will be among those serving at Saturday's 5 a.m. to 7 p.m. Pancake Day, a Women of the Moose will be cooks. The 75-cents-a- meal receipts will go to the firemen's March for Muscular Dystrophy. Dietz is chapter chairman for the chanty.

Common Market in Western Europe. For the shorter term they'd like to develop Alaska's resources. The area once known primarily for its gold, now boasts a big salmon and king crab industry, a growing oil and gas industry. It says its iron ore deposits could be developed, especially for the Japanese steel mills. Its forests offer huge supplies of timber and pulp.

And at hand, enthusiasts say, is the opportunity to turn Alaska into a tourist's paradise--well, in summer anyway. lowan wants foundation to assist the diabetics FORT DODGE (AP) A 48- year-old Fort Dodge man, whose blindness is the result of diabetes, wants to help organize a national foundation to aid diabetics and to find a possible preventive for the disease. Lester J. Cleveland, a man of unusual skills despite his handicap, feels that much more can be done in the field of research on diabetes. "Look what Salk and Sabin polio vaccines have done in stopping poliomyelitis," he says.

"I feel that, given the same attention and an investment of large sums of money, diabetes too could be controlled or at least checked. I am told that fSere are abwt eight million diabetics in the coun- ry, many of them not now aware hat they have the ailment. I am convinced that a foundation such Cleveland says, "but you can with as I have in mind would help them and also help future gencr 4 Ifttln ntions. Cleveland, a 1340 graduate Address. Zone own State University, was a well laid machine and tool designer in Milwaukee when he lost bis sigh 1947.

He has had diabetes since ie was 10 at Webster City. "I feel my earnings have been cut more than $200,000 through olindncss brought on by dia betes," he says. "This is course, only Uie minor part my loss." The father of three children, he IMS never seen his two sons who are II and 13 years old. Cleveland makes a living by harpenmR knives and scissors nd selling cards in house-to ouse calls in Fort Dodge. He is ccompanicd by one of his two ons on ihese trips, but does all he work himself.

Actually, he can walk to any art of (he city without sssist- nee. street markers ore or dips in the sidewalk oimds and smells. Hollow sounds from doors and posts help him find his way. lie uses a cane but has never had, or desired, he says, a "sccing-eye" clog. "You can'l visit with a dog" your "I can do anything but see," he adds.

He has shingled his house roof, put rolled roofing on his garage. He has laid wall-to-wall carpeting in his living room, linoleum in his daughter's bedroom. He does electrical wiring in hi? home. He operates an electric power saw and an electric drill. He works on clocks, taking them apart and repairing and oil- 'ng them.

wife has a fulltime job, so Cleveland does many of the house jobs. He' cooks each day' evening meal and does much 'he family ironing. "Everyone has some special xirpose in life," Cleveland says "Sometimes I think that is why 1 have had diabetes and am now blind. "Perhaps God intended that be His instrument in getting a diabetes foundation started. A any rate, I feel I can do more than sharpen scissors and knives intend lo try anyway, and see if I can't help save others from going through what I have since I was a small Five charged in collisions, V.

Newman as drunk driver Police have filed against three drivers charge in aut accidents Wednesday and Wed nesday night. Two charges alsc were filed as a result of col lisions that occurred Tuesday The most serious charge in a new accident is one' of sec ond-offense drunk driving file' against Victor George Newman 33, 125 6th NE. Police said a car he was driving north abou Wednesday midnight hit parked car registered to Mar vin R. Hagen in front of th Hagen home at 616 Monroe NW The Hagen car was pushet onto the curbing and against a utility pote. The right front of Newman's car and the left rear and righ front of the parked car were damaged.

a drov around the block and back tc the scene where he was ar rested, police said. A sample of Newman's blood was drawn for testing but re suits were not available on the holiday. Motion pictures were taken, of him doing coordination tests. Police records indicate he was convicted of drunk driv ing in 1959. SELECTIVE RECOVERY how blue chips rose since October low point: Stotk Prices A Ford Motor Union General Moton tu Pont Stand.

Oil (N.J.) Induttrialf A T. T. I. B. Eaitmon Ko4ak itxonr Mobil U.S.St«el 'exato Officers Wednesday afternoon talked to two men who hat been in Tuesday accidents and filed the charges against them Francis M.

Logue, 43, 15 Pennsylvania NE, was chargec with failure to yield right way to a pedestrian. A car he was driving at 1st NW and Washington Tuesday night hi Florence Brooks, 78, 12Vi Dela ware SE. She is hospitalized with broken bones and bruises Logue is free on a $25 bond awaiting court action after the holiday. The Rev. Paul J.

Maguire 54, 10 River Heights Drive, was charged with failure to give right of way at a "Yield" sign and is free on a $15 bond. Two other persons were slightly hur in a collision Tuesday at 3rc NE and Delaware only a mat ter of hours after new "Yield Right of Way" signs were placed there. The driver of the other car involved was Joleen Kay Brown, 224 5th NW. A charge of failure to control a vehicle has been filed against Elizabeth Annie Hawkins, 59 954 6th Place SE. She is free on a $15 bond.

Police said car she was driving west Wednesday in fronv of 308 15th SE hit a Thora parked car a Hovey, owned by Westview Drive. There was some damage to the right front of Mrs. Hawkins' car and the left rear of the car. Arthur F. Prante, 58, Wheaf- on, 111., is free on a $10 bond on a charge of failing to stop, for a slop sign.

A car he was driving Wednesday afternoon at 4th SW and Monroe was in an accident with a northbound one driven by Ronald H. Norby Route 1, Rudd. The damage was to the right front door of the N6rby car. The only other accident in the city Wednesday was at 4th and Art student is student of arts CORAL GABLES, Fla. Mv-A young man was observed at the opening of an art gallery, gazing around intently as he walked 'rom room to room.

The gallery manager finally asked if the young man was interested in any particular paint- ng. "Nope," was the reply. "I'm ust interested in all the bcauti- ul Women who inlercsted paintings." Crescent Drive. It involved a car that Charles V. Kraft, 1513 10th SW, was driving 'east and one that Marilyn S.

Lafleur, 901 2nd SW was driving south and turning east. She had been unable to see Kraft because she had allowed one vehicle to pass and children in the car blocked vision to the right rear, Kraft's car had damage to the left front fender and possibly to the front end because it hit the curb as Kraft attempted to avoid the accident. The Lafleur car had damage to the right rear fender. News of record in Mason Gity Births At Park HetptUl Boy Wednesday to Mr. and Mrs.

Kenneth Radford, Minne tpolis. Girl Thursday to Mr. and Mrs. Alviu Collins, 503 17th Deaths HUBACHER, s. George (Hulda), 74, 13 Vermont SE.

MURPHY, Mrs. Frank G. (Jessica), 85, 718 Madison NW. O'NEIL, Mrs. George E.

(Valeria), 73, 110 10th DECKER, Mrs. Jay E. (Angle), 81, 119 2nd SE. Justice court Milo Pennington's court--Truman T. Hauge, 1407 Hampshire NE, speeding, Frederick M.

Dearborn, Ottumwa, speeding, $14; Walter W. Koehler, Route 4, Mason City, overweight on registration, $10, and defective equipment, $10; John T. Me- Dowall, Clear Lake, stop sign violation, $10; Harold E. Helton, Ringgold, overweight One car recovered, another is stolen Police have recovered a car stolen Tuesday in Mason City but are seeking one stolen Wednesday night. A car owned by Marvin Young, 112 8th SE, that disappeared Tuesday was found Wednesday parked at the rear of 400 8th SW.

Wednesday night L. C. Bailey's car was taken from in front of his home at 1049 6th SW. It is a two-tone brown 1953 Chevrolet four-door license 17-13552. CAR WHEEL GONE A tire and wheel were stolen Tuesday night from an old wrecked car at the rear of Adrian Goehring's home, 1003 9th NW, police were told Wednes- Dale V.

Kolflat, apolis, overwidth truck, $10; Robert A. O'Lear, MarshaUtown, no tonnage decals on plates, Robert L. Flatgard, i overweight truck, $23; Joseph E. Barragy, Route 1, Mason City, speeding, $10; Marcus S. Lovik, Clear Lake, speeding, $20; Edward L.

Mullen, 522 llth SE, failure to display flags, $10; Sheldon L. Lowrie, Burbank, speeding, $12; A. Floyd Ermer, Al. bert Lea, speeding, $10; William C. O'NeiH, Dubuque, speeding, $10; Keith A.

Freese, Route 1, Dumont, speeding, $25. License action By Public Stftty Names UtUd those to whom tho department has mailed advance i of driver's license suspension or revocation. Action to suspend or Revoke each license is only after the department is sure no mistake in notification has been Suspension notices mailed to: Effective Nov. 8--Arlo Tramain Rogstad, 36, Lake Mills, one year, charge of drunk driving. Nov.

9-VirgU E. Heitmann, 39, New Hampton, 30 days, violation of restricted license; Glen Herbert Keeney, 60, Route 4, Mason. City, 60 days, violation of restricted license; Perry Michael Westly, 19, Manly, 30 days, reckless driving. Nov. 13--Richard Bernard Alexanders, 33, 505 Rhode Island SE, 30 days, ha- faitual violator; Jerry Clinton Mooberry, 18, Floyd, 30 days, habitual violator.

Revocation notices mailed to: Effective Nov. 7 Nels Paul Naig, 51, Osage, 60 days, drunk driving. Nov. 8 Max Mott Thompson, 50, 26 5th NE, 60 days, drunk driving. Nov.

9-Gary Arthur Peck, 19, Carter Lake, 60 days, drunk driving. Nov. 13--Robert Dean Kist, 19, Eagle Grove, 30 days, reckless driving. TV t-tCVyVJiC Drug Store. Larry the club's identifying necktie.

i No way out for man going home Amish want fo preserve "simple way of living" By JAMES FLANSBURG In National Observer INDEPENDENCE--In several scattered Iowa communities, the itate highway commission nstalled a road sign: "Entering Amish Community low Vehicles. Drive A motorist soon learns the eason for the sign. The towns abound in horses and buggies carrying bearded men and bon noted women, their clothes rem- niscent of Seventeenth Century Europe. The men wear coats without apcls fastened with hooks anc eyes, broad-brimmed hats, anc broad-faH trousers; the women wear ful! skirts, aprons, capes, and bonnets. The Amish most con- crvativc branch of the Mennonite Church--are a quiet, peace- ul people, who, with the ex- Iways adio, have: No television, cption of a few new firming methods picked up in the last cnlury, live the way peasants electricity, telephone, ars, tractors, modern plumb- ng or furnaces.

They also have a terribly stubborn streak, and this month 10 of 350 members of an Amish community near Independence in eastern Iowa tangled with the law in a familiar controversy They were charged with failing to send their children to a school employing state-certified teachers. Their children havt been going to private school, Uught by Amish teachers themselves are only eighth grade graduates. J. J. Jorgensen, Buchanan County school superintendent, ordered the schools closed unless certified teachers are employed.

"I guess if they want to put some of the Amishmen in jail, then I guess they will," philosophized Dan Borntreger, head of community's a school committee. The Amish believe that Amish- men should teach Amishmen and that Amish youngsters need only an eighth grade education since "we are just plain ordinary farm people." They therefore conclude that teachers of Amish children need not have more than an eighth grade education. At Pays present, community its two teachers $120 a month each so it cannot afford to pay an outsider. There are 37 children in the two schools. Jorgensen said the Amish have been told they have the right to send their children to school in one of the little towns around their farm community.

But the Amish oppose this because it would subject the youngsters to outside influences. Said Mr. Borntreger: "We are trying to keep our children on the farm. We do not believe in sending them to town schools because we want to preserve our simple way of living, and we feel this would be lost if they went to town schools. The thing we want most is to be left alone." The state of Iowa is not likely 1 to be so considerate.

Supt. Jor- MIAMI Joseph Garden, 24, was driving home late one night recently when he found the street blocked by fire department equipment at a hotel fire. Garden helped firemen rescut two people from the fire. Then, when he started to drive away he found the other end of the street blocked by. fire trucks which answered an alarm at an apartment house.

Garden pondered, the situation, parked his car and went to sleep. Logical explanation for Miami father MIAMI Miami father of a teen-age daughter swears this is true: The daughter answered the telephone, talked 10 minutes and hung up. In reply 0 her father's compliment on the unusually short conversation, the girl said, "Ob that was a wrong number." Peacock: By any other TV name MEMPHIS on-Sample of the impact television has on small A 3 year old saw a peacock spreading its tail at the Memphis Zoo and went into ecstasies. Look, Mama," she shouted, there a Living Color!" gcnscn summed up the official view: "I respect their beliefs, but I must follow the law.".