Logansport Pharos-Tribune from Logansport, Indiana on June 12, 1962 · Page 3
Get access to this page with a Free Trial
Click to view larger version

Logansport Pharos-Tribune from Logansport, Indiana · Page 3

Publication:
Location:
Logansport, Indiana
Issue Date:
Tuesday, June 12, 1962
Page:
Page 3
Cancel
Start Free Trial

Page 3 article text (OCR)

lOGANSPGiu PUBLIC LIBRAFu' Tuesday Evening, June 12, 1962 JFK Fears Business To Stall WASHINGTON (UPD - President Kennedy and his advisers are seriously worried that the present" modestly paced business expansion may stall before thi end of the year. Expressing his own activis philosophy of government, thi President told a news conferenci Thursday that "there is no neec tor this country to stand helplesslj by and watch a recovery run ou of gas." That, in a nutshell, was whj he had decided to ask Congres 10 cut personal and corporate taxes next year. The bill probably will be passed next spring, retroactive to Jan. 1, 1963. With the 1962 business upturn lacking the force Kennedy and his Council of Eeconomic Advisers had hoped for and expected, the President has come around to the council's view that the present tax structure siphons too much purchasing power out of individual and business wallets. Two Reasons Given Two recent events figured heavily in the President's decision to propose tax relief: —The May 28 plunge of the stock market. It intensified the clamor for lax relief and, more importantly, raised the possibility of anxiety-bred cutbacks in con sumer and business spending. —The deeply disappointing re port that business has failed to jack up planned investment spend ing. Kennedy's advisers had counted on a fair-sized increase in outlays for plants and equipment to keep the economy on the upbeal .in the second half of 1962. But the government repor-tec last Monday that the 8 per cenl rise in capital spending over 1961 budgeted by business last wintei was still the target as of May Walter W. Heller, chairman of the Council of Economic Advisers and others had hoped that by May the projected gain would be 11 or 12 per cent and perhaps more. Areas of Concern Kennedy said this "slowness o plant investment" to rise is "one of the areas of concern in the economy." He expressed hope — and it is intensely shared by sub ordinates — that Congress would pass the proposed 8 per cent in vestment tax credit to give busi ness outlays a boost. How much stimulation there would be is any body's guess. The President said the unem ployment situation also was un satisfactory. In May unemploy ment stood at 5.4 per cent of the labor force, well above the ad ministration's mid-1963 target o 4 per cent. 'Kennedy said it wa; too early to forecast whether tha goal would be reached. Administration economists an worried that without a stronger push from investment spending the economic expansion may "rur out of gas" soon. This couk mean a high plateau or an actua downturn. Either way, unemploymen would not decline and might wel turn up. With a growing popula lion and labor force, stagnation i enough to push the jobless tola up. NO NEWS CONFERENCE WASHINGTON (UK) - Presi dent Kennedy will not hold a news conference this week. The White House said Monday the pressure of business would keep Kennedy from meeting newsmen. : ederal Funds to Aid Evansville INDIANAPOLIS (UPI)—A $1 million federal loan will help Jvansville authorities finance a new $10 million shopping and recreation center on the southeast side of the city. Russell Craven, Indiana coordinator for the Area Redevelopmenl Administration, announced the loan here Monday and said it hac been cleared by the Community Facilities Administration in Wash TO MAINTAIN RELATIONS NEW DELHI (UPI) — Prime' Minister Jawaharlal Nehru told Parliament Monday that his government does not-intend to" break diplomatic relations with Communist China. India and China have been involved in a border dispute. Craven said it is hoped that building the center will create 500 permanent jobs in Evansville which has been designated a redevelopment area because oi chronic unemployment. Food Supply 'Pinching' Soviet Bloc WASHINGTON (UPI)-^Red Chi- _ na's belt-tightening process seems! In 1959, this trade amounted to 1.6 bil- Union. Communist China, , in recent years, supplied about 5 per cent of Russia's meat. But since I960, presumably in part due to the ideological rift between the two nations, there has been a major upheaval in Soviet-Chinese trade. to be cutting into the food supplies of the rest of the Soviet bloc. There are indications that Russia's recent 25 to 30 per cent increase in the price of meat and butter may have resulted partly from stoppage of Red Chinese meat shipments to the Soviet deprived Russia and its satellites of an outlet for their machinery production. In Eastern Europe, reports continue to indicate food shortages. The Communist East Cermany called for correction of meat and milk shortages, and .in Bucharest housewives were lining up to buy $2.1 billion. It dropped .to $1.6 bil- cows' heads 2nd tongues, chopped :. . . T ,_ m n.,o :n: :« •nnrsompar and horse brains. lion in 1960 and to $918 million in 1981. There has apparently been a •horsemeat and horse brains. Students in Prague demonslra similar drop in Chinese trade with ted against meat shortages. Panic East Gtermany and other ' pean Communist satellites. Euro- 'buying was ; immediately reported in Poland after Russia's price . This has contributed to food! increases. shortages in Eastern Europe and China has had bad crops foi Logansport, Indiana, Pharos-Tribune ffiree hree consecutive years, and it may be that this year could be crucial for the Peiping regime, programs in Communist Korea and North Viet Nam are reported in trouble. Pood production in Cuba is estimated to have dropped 15 percent in the last two years, and rationing was started this year. Among people who buy homes today, 60 per cent are second- time buyers. IKE TO SPEAK WASHINGTON (UPD- Former President Dwight D. Eisenhower will address a world teachers' meeting in Stockholm July 31. Don't Neglect Slipping FALSE TEETH Do false teeth drop, slip or wobfolo when you talk, cftt, laugh or sneeze? Don't be annoyod and embarrassed oy such handicaps. PASTEETH, an aJkallne (non-acid) powder to sprinkle on your plates, keeps falso teeth more flrmly set. Gives confident feel- Ing of security and added comfort. No gummy, gooey, pasty tasta or feeling. Get FASTEISTH today ftt any For His fathers Day Gift Give SPORT SHIRTS 2.88 Choose from an array of colors in solids, checks or plaids. White also. Wash 'n wear fabrics. Sanforized. Sizes S-M-L-XL. We Gift Wrap CC10RED TEE SHIRTS 1 00 With (Pocket, S-lM-i-XL Read the Want Ads! 1.98 -w £ LADIES JAMAICA SHORTS ooo Choose stripes, solids, plaids or checks. Wash 'n wear fabrics. Sizes 10-18. Beach Robes O98 Others 5.98 Fingertip, water thirsty terry. White. Sizes S-M-L, Swim Suits By lee Beachwear 10 98 Others to 25.95 Choose from many, many styles in your favorite colors. Prints, solids or stripes. "The Torch" fty Van Heusen $500 Gay.... Colorful Patio Dresses NOTICE TO 11OAU CONTRACTORS! Notice is hereby given tliat sealed proposal* for the coti- struolion °C certain highway Improvement* as described below, will be received by the Indiana State Highway Commission at offices -In the • Indiana State Office Bulldlne, Indiana- polls, until 10:00 A.M. Eastern Standard Time on the 20th day of June, 19G2, Boom 131H, whon all proposals will be publicly opened and mad. CONTRACT RS—6668 Elds are Invited on CONCRETE WIDENING AND HOT ASPHALT1C CONCRETE RESURFACE in the I^aPorto District on the follow- C/fhiS COUNTY—Project. F-152 (S's. 9.899 mllea on SR 25, from the north limits ot X.ocransport to approximately 2.56 miles northeas-t of SR 16. Plans and proposals may be examined at the office of the Indiana State Highway Commission, in Indianapolis. Indiana. INDIANA STATE HIGHWAY COMMISSION NO'J'ICK STATE OF INDIANA) )SS; COUNTY OF CASH ) NOTION TO A.I/CJ PERSONS JTv'TE REST-ED IN THE SURVIVING PARTNERSHIP OF HI3N- TIV O. WOI*F & W. D WIGHT HARKIN. Jn the Circuit Court of Sftiatt County, April Term, 13G2 Cause Number P 61—83 In the matter oC Uifl Surviving Partnership WolC & Harldn NotIc-,0 is hereby Riven that Henry C. Wolf as Surviving 1 Partner of the above named estate, has presented arid filed his account in fiiml settlement of said trust, and that the same will come up Cor the- examination and notion oC said Circuit Court, on the 2nd day of July, 1062, ftt which time all persons Interest-' cd In said estate are required to appear in said court and show Clause, 1C any there be, why said jiccount should not be approved. And all Interested are also required to appear and make proof of their claim to any part of •aid survivlnfi* partnership. Clarence R. Settlemyre Cleric of the Clrcui-t Court for Cass County, Indiana O'NfiiU & O'Neill Attorney Use Your Charge Account Men's BERMUDA SHORTS 3' Others to 5.98 Choose from solids, checks, plaids. Sizes 30-40. The "action" shirt. The perfect gift for the active dad. Chocse from your favorite colors, Be Neat and Beat the Summer Heal! Men's Swimwear Others to 5.00 Galey & Lord plaids and solids. Boxer and knit styles. 2842. fun time-Sun time Ime... $398 'Carefree leisure in one of these sleeveless beauties! Easy-care- no-iron fabrics. Many similar styles and colors also available. Sizes 12-20, 14'/2-24'/2 Playtime ... Runtime.. . Suntime . . . Shorts . . . Tops ... . Short Sets Fun in the Sun in These Wonderful Playtime Clothes — Infants to Size 14 SHORT SETS Broadcloth lap, Poplin Shortll Crayon Blue, Green let, Navy, Orangeade, farotol Pink, Candy Applt Colorful printed crop top with iclid b!at binding at neck, armholes and scalloped hemline. Accented by lolid color bow. Full cut poplin ihort* color matched to binding on crop top. Four needle •laitic boxer wai«t, Sizes 3-6x 94c set SHORT SETS CHILDREN'S SPORTSWEAR STREET FLOOR Broadcloth Top, Woven Cryttal fl/ue, Parrot Green, Crangaad. The "Poodle in the Pocket" Set. Crop top with acron tha front pocket-made of woven plaid. Sharp contract black and whit* braid trim. California style thort with four needle elastic back and lides and at back of legs. Braid trimmed solid front cuff. Sizes 3 1o 6x set CROP TOPS Brcxxfc/oflii.WMf* Crop Top Range with three different treatments. One wl* scalloped •yelet bordering front, flower motif. Another hoi fr«nch binding and cliiny lace at bottom. The third hai tuckt and buttoni. Sizes 3-6x, 7-14 88c .o 94c Nassau Shorts Random Cord: Spoce Blu., Seofoam Grey, Condy Apph trough Sateen: Cherry Cream, Mint Green, Oronoeorfe Cool, comfortable ihort »hort for •fun in the »un. Band front, four needle elastic back, two pocket* in front, blind ultched h«m. Sizes 3-6x, 7-14 94c T ol.49 DAilNlTY, FUN-LOVING, COOL INFANTS SUITS (Sizes 9 to 30 iMos. $1.69 Kits and kids bound for Health-tex* bi'ief tailored shorts. Wash-and-wear cotton is Mother-relaxing. Bigger sizes in boxer style. Smaller ones in boxer or suspender styles. Likeable solids, patterns or stripes. I 01 Sizes: 1, 2, 3, 4. !•*' Sizes: 4, 5, 6, 7,8. 2.8J \ ^ A boy's best friend is. Health-lex* zipper-short sets with real male dash. Cotton shorts have elastic-back, zipper fly front, slash pockets. Some with 2-buttontab fronts. Belts to match shirts. Cotton shorts are tailored in neat wash-and-wear solids, stripes and plaids, Sizes: 4,5,6, 7. 1.88 LOGANSPORT PUBLIC LIBRARY

Get full access with a Free Trial

Start Free Trial

What members have found on this page