Logansport Pharos-Tribune from Logansport, Indiana on December 29, 1957 · Page 95
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Logansport Pharos-Tribune from Logansport, Indiana · Page 95

Logansport, Indiana
Issue Date:
Sunday, December 29, 1957
Page 95
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^SUNDAY, DECEMBER 29, 1957. THE PHAROS-TRIBUNE and LOGANSPORT PRESS, LOGANSPORT, INDIANA PAGE TWENTY-THREE YEARS Should You Invest In Stocks At 65? , ( By THOMAS COLLINS I take my retirement Jan. 5, which means I'm as good as through now," the man said. "Mama and I plan to hang around until February, take a trip to get out of the cold, then ^ come back in the spring and sell our house. "That's where our problem is. From the house and other odds and ends we'll have about $14.000 in good, hard money. We need to convert that into some monthly income to help our pension out. How? happened, sometime next year, the „ i . smart boys will be reaping 6 to 8 A saving account would pay us 2 per cent or. so. A j pe r cent over ; n t i, e nex t C0 unty. chairman out and convert the business to making 10-periny nails instead. They Act Quickly "The brilliant men in the stock market knew all this before you went to sleep last night. And sold their stock. Before you know what's I Chester. $2,857.99 and interest of $207.10 plus eight percent interest from Dec. 16, $500 attorney fees and •costs of the action. Lewis Myers, 48, formerly of Akron and now of near Beaver Dam Lake, has been picked up by the sheriff's office and is being held in Fulton county jail, Myers is charged in circuit court with desertion. Admissions to the Woodlawn hospital: Mrs. Goldie Baumber-i ger, Rochester; Harold Bailey, Ho- loan association would pay us 3 to 4 per cent. But stocks are paying people 5 per cent ' or more. We need that extra money. "The question is: Should we buy stocks?" The answer, with an important reservation, is yes. The difference between 2 per cent and 5 per cent on $14,000 is about $35 a month. That's money when you're on a pension. The difference between 3 and 5 per cent is about $23 a month. That's money, too. But you have to pay lor such things. That's where the reservation comes in. A retired stockbroker, who is "But here's what happens: The brilliant men were holding a lot of a stock selling for $100 a share. U.S. had his recent illness. Say one of them was holding 1,000 shares o fa stock selling for $100 a share. He was smart enough to know, the minute the illness was announced, that the stock market would go down fast. "So he jsold his 1,000 shares for $100 each. The price fell in one day to say, $94 each. Then he bought back the 1,000 shares at that price. The President's condition improved. The stock went now living on municipal bonds stead of stocks, sat under one of (a his orange trees the other day and spelled out the reservation. Noi A Game His P rofi ' t: * 6 '°° 0 in ' av - "The slock market," he said, "is not a boy's marble game. It's a tremendous business in which brilliant men every day make and lose more money than the average guy ever dreams of having. "It also is an auction market where the dull, reliable shares of dull, reliable corporations are bought and sold. oulif you have the savvy to do this? Would you have had the time ' to hitch up the buckboard "lo brief," he said, "you bad better know what's going on before you start playing around with the stock market. And you have to have a news ticker at your elbow, and be alert 18 hours a day, before you know what's going on . . ." If you are tempted to buy stocks, story. If you have house money and want to supplement a pension the new military costs without 'unbalancing the federal budget. At 64 billion dollars, a spending rate that might occur in case of "localized hostilities" federal taxes would have to be increased, to cover the higher costs and check inflation. Some of the government's non-defense programs could not be increased, but consumer spending still could rise. Sees More Important Problems INDIANAPOLIS tf) —. A top- ranking American scientist Saturday night warned against letting "our almost hypnotic concern" with outer space divert still more attention from unsolved problems of limited space on earth, because of the holiday. The meet-; Dr. Paul B. Sears, retiring Dismissals: Mrs. Richard Dawson and son, Rochester; Mrs. James Scarlet and daughter, Akron. Mr. and Mrs. Ricci Gretona, Rochester, are the parents of a daughter born Friday in Memorial hospital, in Sarasota, Fla. Mr. and Mrs. Robert Burns, Fulton, are the parents of a son. Kiwanis club members will meet broker (ask the Chamber of Com- again will be held in the View cafe, even oroKer (as* me u,namDer 01 wm-, th h jt . j ^ { th „. merce), go to your bank, or go to On t Tuesd m ^ th / in< , u . c .; an investment counselor. Say you want to get a regular income from the stock market, not play it. You can get, as of now, about 5 per cent, with reasonable safety. But even then you car.'t buy, and forget it. Suppose and act so quickly? "And another example," of a conservative public utility that has ident of the American Association for the 'Advancement ol Science (AAAS), declared that in the Unit- On tap Tuesday will be the indue- |ed States "Our future security tion of the 1958 officers of the club. may depend less upon priority in exploring outer space than upon Officers to be installed are the. our w i s d o m in managing the president. The Rev. Claude Young, space in which we live." A committee of ministers, headed by the Rev. Donald Decker, has arranged a Sears, chairman of the natural resources conservation program itical climate of the country M f hfnin $14,000 worth of stock in the corporation. Everything is lovely, but the board chairman of XYZ is playing footsie with a red-headed secretary and letting the nut and bolt business go to pot. "The directors know all about this, and they decide to kick the How Widow Can Invest Money To Her Advantage BL BEULAH STOWE Mrs. C. T. is a widow 66 years old. She receives a monthly Social Security payment of $42 and she has a savings account at the bank of $20,000, which pays her 3 per cent interest. (Or $50 a month.) Could' she do better with her money, Mrs. T. asks? She lives alone in an apartment and rent takes a big piece of her monthly income. Mrs. T. might consider these alternatives: 1. Invest $18,000 in a conservative stock which pays 5 per cent interest. This will leave her $2,000 in the bank for emergencies. She will earn $900 a year (or $85 a month) interest on the $18,000 investment—$25 a month more than she is now receiving on the entire $20,000. 2. Or she might buy a $10,000 house in a suburb or in a small town, and rent it until such time as she might want to live in it herself. If she rented the house for $65 a month—a low price in most communities—the $10,000 invested in the house would bring her an annual income of $780. She would receive $25 a month interest on the $10,000 still in the bank, to give her a monthly income of $90, instead of the $50 she now receives with the savings account as her sole investment. The house could be rented with the provision that the tenant make all normal repairs necessary to maintain the property. Taxes would reduce Mrs. T's profit somewhat. But she would gain two advantages: a higher return on her money while the house is rented, ant! a home for herself in the future. 3. There's a third choice. It's uncomfortable, but not necessarily impractical. This is for Mrs. T. to leave her money in the savings account, and withdraw up to $500' a year to ease the squeeze on expenses. It would take her 40 years to expend the $20,000. (Meanwhile, interest on the account would diminish proportionately.) This would work, but most women would not enjoy living this way. They would prefer to use their capital to make more money, than to eat away at the capital in a calculated risk. 4 * * Q—"Where can my wife and I live' on $200 a month?"—R. B. P. A—Almost anywhere, but quietly. Avoid the Mg cities. Live in a trailer In St. Petersburg!!, in a small house in the Rio Grande Valley In Texas, in a pre-fab on the hills of California, or in a cottage in South Dakota. Plan to hold housing costs under $50 and keep the remaining $150 for food, clothing, medical bills, and recreation. It isn't easy, but many retired people are doing it every day and it dosen't show. (All rights reserved, NEA Service, Inc.) >Tm so glad you dropped in! George is making a. speech litxt week and wants to try it on some plain people with average brains!" SALE CALENDAR Jan. 3—Tony Mo.ose Roy Daugherty Jan. 7—Fern McKillip Eastburn & Humphreys Jan. 7—L. D. Allen Hoy Booth Jan. 15—Preston Tieman , Bridge Jan. 2] —Homer Wilson Roy Booth •TATI FAUX A CAREFUL DRIVERS SAVE MONEY WITH STATE FARM MUTUAL'S "CARflrVL DRIVER INSURANCE" HARRY "BUD" WATTS 302 W. Market St. Phone 4420 the government could push your company and your dividends over a.TVA dam. You will have to work at your investment from here on. (COPYRIGHT 1957, GENERAL FEATURES CORP.) officers are Frederick vice president; Burk Miller, secretary; Herbert Zim- . induction at Yale University, said in "• presidential address prepared for the association's 124th meeting: "With a population set to double i n i ess than half a century with merman, financial secretary, and* a national space which though ' — ' -•- '-•-"- • •• • ROCHESTER ROCHESTER — Christmas poinsettias in red with greenery, was tine color scheme used yesterday for the wedding of Virginia Reed and Noel Lewis, in St. Joseph's Church at 10:00 a.m. The double ring ceremony was performed by the Retv. Father George B. Lanning. The bride is' the daughter of Mr. and Mrs. Lyle Reed, 301 East 14th street, Rochester, and the bridegroom is the son of Mr. and Mrs. E. A. Lewis, 1617 TUden avenue, Fort Wayne. Given in marriage by her father, the bride selected a traditional gown of white satin, with long pointed sleeves and tiny self-covered buttons. It was fashioned •with a sabrina neckline, trimmed with lace and seed pearls. A bouffant worn over a hoop skirt with back detail, fell into a flounce and chapel train. Her white illusion veil was gathered to a crown of lace and pearls. She carried a white Prayer Book (belonging to the Groom's mother), decorated with a white orchid. She also carried a rosary, a gift of the groom. , Mrs. Frank Mehall, Fort Wayne, was the matron of honor, and Bonnie Reed, a sister of the bride, attended as bridesmaid. They wore identical red velveteen ballerina length gowns, designed with a fitted bodice, sweetheart neckline and three- quarter length sleeves. The skirts were fashioned with red chiffon over net and taffeta. They wore white fur headbands and carried white fur muffs, trimmed with holly. Dr. John F. O'Brian, Fort Wayne, brother-in-law of the groom attended as best man. Ushering were: Paul Arnold, Fort Wayne, and Russell Reed, brother of the bride, Rochester. The Mass was played and sung hi honor of the Immaculate- Heart of Mary by Robin Lee Howard, Macy. The Offertory was an Ava Maria by Carlo Rossini. For her daughter's wedding Mrs. Reed selected a navy blue lace dress over taffeta, complimented with a pink orchid corsage. The mother o£ the groom chose a beige lace dress over taffeta, -and her flower corsage -was a pink orchid. Following the lmpressive_ rites, a wedding reception was given in the St. Joseph's church parlor. The Misses Barbara Lomont, Janet Storm and Joyce Workman, all of Fort "Wayne, presided at the serving table. The brides table was centered with a four-tiered wedding cake with a white bridal bell atop. Tapered holly and white candles were placed at either side. The bride is a graduate of Bx>' Chester High School and Ball Stale Teachers college. She 'has been teaching in the Hudisill school, Fort Wayne. Her husband is a graduate of Ball State Teach ers College and is music supervisor for the Montpelier schools, Montpelier. Guests, numbering 134, were present from Fort Wayne, Rochester, Muncie, South Bend, Winamac, Kansas City, Mo. and Raymond 1 , 111 For their five day wedding trip to Chicago, the bride changed into a blue knit suit with black accessories. She wore her white orchid corsage, Mr. and Mrs.' Noel Lewis will be at home in Montpelier after Jan. 17. A marriage' license has been issued in the Fulton county- clerk's office to Harry T, Chaney an<3 Violet E. dingier, both of Delong. A suit on promissory note was filed, in Fulton circuit court by Joseph B, and Joseph E. Marburger, in business as the Marburger Supply Company of Peru. Defendants in the suit are Mr. and Mrs. John C. Weiller of Rochester. treasurer, Floyd Christman. Pamala Kay Norris, 14 month old daughter of Mr. and Mrs. Don Norris, is in Riley hospital, Indianapolis, for observation and treatment. Mrs. Goldie Baurnbagger was brought from her home on R. R. 3, to the Woodlawn hospital in the Foster and Good ambulance. Mrs. Everett Kistler who resides at 1517 Main street, this city, fell .in her home yesterday and fractured her hip. She was taken to the Woodlawn hospital in the Zimmerman Brothers ambulance and remained there for observation. Many Bunker Hill Employes Living in Logonsport Area Insignia of Air Force's SAC Logansport business received a shot in the arm this year because of the presence of the military base at Bunker Hill. In the first 11 months of 1957, Bunker Hill Air Force Base, south of Peru on U. S. 31, purchased supplies and equipment in Logans- Could Up Spending, Not Taxes By STERLING F. GREEN WASHINGTON Wt—-National security spending could be stepped up to 54 billion dollars a year, a 25 per cent increase, by 1960 without a tax increase, the National Planning Assn. reported Saturday.- The privately supported research body said it advocates neither higher nor lower defense budgets but has tried to measure the impact of steeply increased military outlays if the Soviet threat makes them necessary. The "major national security" .programs in the present (fiscal vast, is finite both in area and port amounting, to $108,246. Wi . thea < h ind ' vid «a 1 The base now has more than 3,. . 0 e ase now as more an ,growing demands, moving | m military and civilian employ- fact ° r of!ees ° U hands mediate faster and further at least ten, a problem without precedent in geological history. "But if we sense the problem and believe it worth solving, we can solve it." No Objection The scientist declareo he had "no quarrel with the exploration of outer space." "It is a legitimate and challenging subject for scientific inquiry and bold experiment," he said. "But," he added, "as we extend our astronomy by whatever celestial acrobatics we can get away with, I should like to see some consideration given to relative unfinished business at our feet." •Elsewhere in (his talk, Sears declared: "Outer space is one more item that diverts attention and energy from the prosaic business of setting our terrestrial space in order. "And it has fostered an incredible type of escapism that must be experienced to be believed. One hears too frequently for comfort the sober assertion that we need not worry about depletion of natural resources, now that interplanetary travel is just around the cornerl Driver fnjurecf In Auto Crash Miss Mary Ellen Grant, 20 of Onward, suffered a bruised left of whom live in the : Logansport and do most of their shopping in local stores. Of the military personnel stationed at the base, 111 officers and airmen live in Logansport with their families. Their spending probably adds several hundred thousand dollars to the city's business each year. About 35 children from the base were enrolled in city schools at the beginning of the year. Last year the schools had about 100 pupils from the base and a similar number was expected this year. However, when the change was made from Tactical to Strategic Air Command in September,' the expected total did not materialize. Inasmuch as the state pays $125 yearly for each pupil enrolled in the schools, the system received $12,500 in state aid last year because of the presence of the air base children. Most of the officers and airmen living here are members of the 68th Air Refueling Squadron, the Strategic Air Command unit which arrived at the base in September. The base commander, Col. Henry J. Chisholm, also is a Logansport resident. He lives at 305 Burling- 'ton avenue with his wife, Gloria, and five children, Anne, Roderick, John, Margaret and Robert. Col. Chisholm has been in tlie Air Force for 16 years. He was at Pearl Harbor Dec. 7, 1941 during the Japanese attack and served in , _ . , , . ,, „ ,.... i ,, . — the South Pacific during World 1958) budget call for 43 billion j ankle in an auto collision at 8:15 War Two. When the Korean war feet. A crew of five operates the tanker. In-flight refueling is made possible by a "flying boom" designed by Boeing Aircraft Corp. The boom extends from the rear of the tanker plane and is flown into the nose of the plane being refueled. A boom operator in the rear of the KC-97 controls the position of the boom and can raise or lower it or move it from side to side by means of moveable air fins, in tho same manner the airplane itself is controlled. Fuel can be transferred at the rate of more than COO gallons per Col. H. J. Cbisholra Gift Weapon Causes Death MISHAWAKA, Ind. W) - John McCuen, 15, Mishawaka, was killed Saturday while he and two other boys were hunting with rifles they had received for Christmas. Sheriff's deputies said the .22 'caliber rifle carried by Patrick Radanovich, 10, apparently discharged accidentally and the but- le' struck (lie McCutn boy in the back of the head. minute. Inside the KC°97 are' 151 Radanovich ran home for help, fuel tanks from which the fuel I but his companion was dead when flows through the boom and into'he returned. The third boy, Ed- dollars of spending, and are con- : a. m. Saturday a mile south of sidered certain to rise in the fiscal '59 budget President Eisenhower now is preparing for Con- ress. The top-secrot Gaither report on this country's military position reportedly recommends an 8 billion dollar increase in military outlays. This and more, the NPA report suggests, could be accommodated without economic strain, but at any considerably higher level, federal taxes would have to be raised. The report -prepared by NPA's chief economist, Gerhard Colm, former staff director of the President's Council' of Economic Advisers, said increases to tho following magnitudes by 1960 would have these results: At 54 billion dollars, expectable state road 218 and two and a ihalf miles east of Walton at a county road intersection, in which the property damage was estimated at $900. Miss Grant was headed south on the Onward blacktop in a 1954 model hardtop owned by her father, Edgar Grant, and Chauncey Downey, 72, of route 3, Martins- yille, was enroute east on an intersecting blacktop road in a 1957 sedan when the vehicles collided, according to State Trooper Larry Wagenknecht, who investigated. The damage was estimated at $450 to each car. Downey was fined $1 and costs on his p'lea of guilty in the local justice court to a charge of failure to yield the right of way. began in 1950, he was at Head quarters, Far Eastern Air Force in Japan. He holds the Distinguished Flying Cross with Oak Leaf Cluster, the Air Medal with Oak Leaf Cluster, the Bronze Star and the Distinguished Unit Citation. Before becoming commander of Bunker Hill Air Force Base he was commander of the 323rd Air Base Group. The KC-97..Stratotankers flown by men of the 68th Air Refueling Squadron are powered by four conventional 3,500 horsepower engines, and cruise at 350 miles an hour. They have a range of more than 2,000 miles and can fly higher than 35,000 feet. The plane is 38 feet high, 117 feel long and has a wing span of 141 economic growth, plus the business stimulation resulting from the higher outlays, would cover A Child's Prayer The plaintiff asks judgement of j Spear St. KATHLEEN CARNEY "Dear Heavenly Father, we thank yon for sending Jesus for our Saviour and for the joy of Christmas. Thank you for the things that help make Christmas happy. Help us to love one another at all times and help us to think more of Jesus' birth than Santa Claus 2nd presents. Bless all the children everywhere and help them to have a merry. Christmas too. Amen." Kathy is in the 4th grade and attends Weekday Religious Education classes at Daniel Webster School. She is the daughter of Mr. and Mrs. -William Carney, 1816 :he plane being refueled. The KC-97 eventually will be replaced by an all-jet tanker, the {C-135. which is powered by four jet engines and is capable of speeds of more than 550 miles an hour. With its increased speed, operating altitude and fuel carrying ca- jabilities, the KC-135 will more ;han double the range of SAC'S beavy bomber, the B-52, on onej refueling. The first refueling flight in history was made in 1923 when two pilots of the U. S. Air Service transferred 25 gallons of fuel using a device resembling a garden hose and a funnel. Six' years later, • Major Carl Spaatz and Captain Ira Eaker, now both retired generals, kept a tri- motored plane aloft for 150 hours, 40 minutes and 15 seconds to set a new endurance record. Their flight proved the value of in-flight refueling. In 1949, the Air Force began experimenting with B-29s, using long dangling hoses to transfer fuel. In the same year an Air Force B-50 flew non-stop around the world in 94 hours with the aid of tankers from the 43rd Aerial Refueling Squadron. ward Hardy, 15. said he did not know how the accident happened. Radanovich was in a state of shock and could not be questioned. McCuen was the son of Mr. and Mrs. Gerald McCuen of Misha- Waka. The accident occurred in a woods near the city. Coming Wednesday GALA. NEW YEAR'S EVE SHOW TUESDAY NIGHT 10 TO 12:30PM NOW SHOWING MATINEE DAILY Jom IPS Cjril^SVy^«>'*'V«w>*O and see a world of entertainment! A tour of amour with three "Hve-it-up^ show girls who kiss and tell and tell/: Dances, Gaiety, 1 . Delight'! M-G-Mpnmti ASOLCSKEireODUCTJON-COLE PORTER'S itairifll GENE KELLY-MITZI GAYNOR KAY KENDALL-TAINA ELG •Mttmni JACQUES BERGERAC •§««.««»» JOHN rAT»K3l »tayl»Vi!»C«|»iy Mwte nut hntc. by COU PORTER In CinmWfcof. .nj METHOCOLOR rlAULCHARJM • MM* to CIORCECUKOft - NOW Thru TUES. AFTERNOON OPEN T P. M. JOEL VIRGINIA McCREA-MAYO R O X Y Today, Monday 2 Westerns - 3 Cartoon* Open Daily t p.m. 'WVfR OF NO RETURN" with Buckskin Lady" with Kctiord

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