Logansport Pharos-Tribune from Logansport, Indiana on December 29, 1957 · Page 23
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Logansport Pharos-Tribune from Logansport, Indiana · Page 23

Logansport, Indiana
Issue Date:
Sunday, December 29, 1957
Page 23
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SUNDAY, DECEMBEK 29, 1957. THE PHAROS-TRIBUNE and LOGANSPORT PRESS, LOGANSPORT, INDIANA PAGE TWENTY-THREE THE GOLDEN 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? "A saving account would pay us 2 per cent or so. A chairman out and convert the business to making 10-penny 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 happened, sometime next year, the smart, boys will be reaping 6 to 8 per. cent'Over in the next county. loan association would pay us 3 to 4 per cent. But stocks .. In , brief," he said, "you had [better know what's going on be- 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. 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 cer.t 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 for such things. That's where the reservation comes in. A retired stockbroker, who is now living on municipal bonds instead of stocks, sat under one of his orange trees the other day and spelled out the reservation. Nol A Game "The stock 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 , where the dull, reliable shares;bolt business go to pot. of dull reliable corporations are; "The directors know all about bought'and sold. .ithis, and they decide to kick the "But here's what happens: The;£ ore you s t a rt playing around with "So he sold 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 back to $100. His profit: $6,000 in a ''ay." you have the savvy toi 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, take this man's advice to heart. But he tells only part of the story. If you have house money and want to supplement a pension with it, go to a reputable stockbroker (ask the Chamber of Commerce), go to your bank, or go to 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 can't buy, , u- 4 „ I s t /«. 'go Ashing, and forget it. Suppose do this? Would you have had the ; S «• of a con . . o is ou you ave a e ; of a con . time to hitch up the buckboard. ' ,. 5 , lif> ntnihv tha , has and act so quickly? servative public utility that has w act so QUICKC i - d divid ^ nds for 34 yea rs. The "And another example," said,£ u ; j climatfe o£ the country the retired broker. "Say you buy;£ d h and in 1%0 or 1964j $14,000 worth of stock in the XYZ;.. „„„*',.• rnllM nllsh vou r corporation. Everything is lovely. .the government could push your corporation, ^veryining is loveiy.: ~ and your divide nds over but the board chairman of XYZ is,;"* ;, playing footsie with a red-headed :* 1VA a ; m ; auction market j secretary and letting the nut and You «U have to work at your How Widow Can Invest Money To Her Advantage BL BEOLAH 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, jhe 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 nerself. If she rented the house for $65 a month—a low price in most communities—the $10,000 invested in the house would bring ner an annual income of $780. She would receive $25 a month interest on the 510,000 still in the bank, to give her a monthly income of $90, instead of the $50 she now receives with the savings accouitt 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, and 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. * * * Q_"Where can my wife and I live on $200 a month?"—R. B. P. investment from here on. (COPYRIGHT 1957, GENERAL FEATURES CORP.) ROCHESTER ROCHESTER — Christmas poinsettias in red with greenery, was the color scheme used yesterday for the wedding of Virginia Heed and Noel Lewis, in St. Joseph's Church at 10:00 a.m. The double ring ceremony was performed by the Rev. Father George B. Lanning. The bride is the daughter of Mr. and Mrs. Lyle Reed, 301 East Wth street, .Rochester, and the bridegroom is the son of Mr. and Mrs. E. A. Lewis, 1617 Tilden 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. (2,857.59 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 Baumberger, Rochester; Harold Bailey, Rochester. 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 this coming week on Tuesday instead of the regular Wednesday because of the holiday. The meet- ing'site again will be held in the Courthouse View cafe, even though it is closed to the public. On tap Tuesday will be the induction of the 1958 officers of the club. Officers to be installed are the president, The Rev. Claude Young. A committee of ministers, headed by the Rev. Donald Decker, has arranged a unique induction ceremony for the incoming president. Other officers are Frederick Rakestraw, vice president; Burk Miller, secretary; Herbert Zimmerman, financial secretary, and treasurer, Floyd Christman. • Pamela Kay Norris, 14 month old daughter of Mr. and Mrs. Don Norris, is in Riley hospital, Indianapolis, for observation and treatment. Mrs. Goldie Baumbagger 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. 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. resources conservation program j shot in the arm this year because at Yale University, said in his! of the presence of the military presidential address prepared for!base at Bunker Hill. Jie association's -124th meeting: [ In the first 11 months of 1957, . "With a population set to double | Bunker Hill Air Force Base, south in less than half a century, with j of Peru on U. S. 31, purchased Could Up Spending/ N pt Taxes By STERLING F. GREEN WASHINGTON OB—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 re- . _ _ , J..UW Uii.Vai.VlJ OML^SVl LtU. it- She carried a white Prayer Book search body said it ^ advocates (belonging to the Groom's mother), decorated with a white orchid. She also carried a rosary, a gift of the grocm. Mrs. Frank Mehall, Fort Wayne, i was the matron of honor, and ^^ „,„ ,„ .,„,.,„„.„ -Bonnie Reed a Sister of the bride, j .programritT th7"pre7ent"7fiscal neither higher nor lower defense budgets but has tried to measure |-the impact of steeply increased ! military outlays if the Soviet makes them necessary, "major national security" 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 w— (YllClC tail illy IT lie CU.IVA JL JJLV^ VJi Y^UU « jiiuiinj. J.B* j->, *.,---- - , . A-Almost anywhere, but quietly. Avoid the big cities. Live- in j white fur headbands and carried a trailer in St. Petersburgh, in a small house in the Bio 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 white fur muffs, trimmed with holly. Dr. John F. O'Brian, Fort 11958) budget call for 43 billion dollars of spending, and are considered certain to rise in the fiscal '59 budget President Eisen- lower now is preparing for Con- ress. The top-secret Gaither report on ;his country's military position reportedly recommends an 8 billion dollar increase in military outlays. This and more, the NPA report the remaining $150 for food, clothing, medical bills, and recreation.; Wayne, brother-in-law of the 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 next week and wants to try it on some plain people with average brains!" SALE CALENDAR Jan. 3—Tony Moose Roy Daugherty Jan. 7—Fern McKillip Eastburn & Humphreys Jan. 7—L. D. Allen Roy Booth Jan. 15—Preston Tieman Bridge Jan. 2]—Homer Wilson Roy Booth CAREFUL DOERS SAVE MONEY WITH STATE FARM MUTUAI/S "CARBPUL DRIVER INSURANCE" HARRY "BUD" WATTS 302 W. Market St. Phone 4420 A INIJIANCI groom attended as best man. Ushering were: Paul Arnold, Fort Wayne, and Russell Eeed, broKier of the bride, Rochester. The Mass was played and sung in 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 of the groom chose a beige lace dress over taffeta, and her flower corsage was a pink orchid. Following the impressive 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 State Teachers college. She has been teaching in the Rudisil school. Fort Wayne. Her husbant is a graduate of Ball State Teachers College and is music supervisor for the M-ontpelier schools, Monbpelier. Guests, numbering 134, were present from Fort Wayne, Rochester, Muncie, South Bend, Winamac, Kansas City, Mo. and Raymond, in. 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 and Violet E. Clingler, 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. The plaintiff asks judgement of Sees More Important Problems INDIANAPOLIS ») — 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. Dr. Paul B. Sears, retiring president of the American Association for the Advancement oil Science (AAAS), declared that in the United States "Our future security may depend less upon priority in exploring outer space than upon our wisdom in managing the space in which we live." Sears, chairman of the natural Many Bunker Hill Employes Living in Logonsport Area Insignia of Air Force's SAC Col. H. J. Chisholm Logansport business received a a national space which, though vast, is finite both in area and quality, with each individual making growing demands, moving! supplies and equipment in Logansport amounting to $108,246. The base now has more than 3,- t <- j t a. ^ • , -mOO military ar.d civilian employ- faster and further by a factor of | ees , many of whom live in the im- at least ten, we have on our hands 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 declared he had «j . ... , fUiUUQUiV ctUUO OCVC1OJ. JlUllUl^U no quarrel with the exploration j thousand dollars to the city's busi- 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 corner! ness each year. About 35 children from the base vere enrolled in city schools at he beginning of the year. Last year the schools had about 100 >upils from the base and a similar lumber 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 :he schools, the system received !12,500 in state aid last year be- Driver Injured In Auto Crash Miss Mary Ellen Grant, 20, of Onward, suffered a bruised left ankle in an auto collision at 8:15 a. m. Saturday a mile south of state road 218 and two and a •half 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 suggests, could be accommodated' Downey, 72, of route 3, Martins- without economic strain, but at|ville, was enroute east on an any considerably higher level, | intersecting blacktop road in a 1957 federal taxes would have to be j sedan when the vehicles collided according to State Trooper Larry 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 the following magnitudes by 1960 would have these results: At 54 billion dollars, expectable economic growth, plus the business stimulation resulting from the higher outlays, would cover Wagenknecht, who investigated. The damage was estimated al £450 to each car. Downey was finet >1 and costs on his plea of guilty in the local justice court to a charge, of failure to yield th« right of way. A Child's Prayer KATHLEEN CARNEY "Dear Heavenly Father, we thank you 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 and 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 Spear St. 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 the same manner the airplane itself is controlled. Fuel can be transferred al the rate of more than 600 gallons per minute. Inside the KC-97 are K fuel tanks from which the fuel flows through the boom and into the plane being refueled. The KC-97 eventually will be replaced by an all-jet tanker, the KC-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 capabilities, the KC-135 will more than double the range of SAC's heavy bomber, the B-52, on one refueling. The first refueling flight in -history was made in 1923 when two pilots of the U. S. Air Service ransferred 25 gallons of fuel cause of the presence of the air ling a device resembling a garden mediate area of 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 Gift Weapon Causes Death MISHAWAKA, Ind. H» — Joha McCu.en, 15, Mishawaka, was killed Saturday while he and two other boys were hunting with rifles they had received for Christmas. Sheriffs deputies said the .22 caliber rifle carried by Patrick Radanovich, 10, apparently discharged accidentally and the bul- le 1 struck the McCuen boy in the back of the head. Radanovich ran home for help, but his companion was dead when he returned. The third boy, Edward Hardy, 15, said :••= Jid 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. iase children. Most of the officers and airmen Living here are members of the 6Sth Air Refueling iSquadron, the Strategic Air Command unit which arrived at the base in September. The base commander, Col. Henry J. Chisholm, also is a I.ogansport resident. He lives at 305 Burlington avenue with his wife, Gloria, and five children, Anne, Roderick, John, Margaret and Robert. Col. Chisholm has been in the Air Force for 16 years. He was at Pearl Harbor Dec. 7, 1941 during the Japanese attack and served in the South Pacific during World War Two. When the Korean war began in 1950, he was at Headquarters, Far Eastern Air Force in Japan. .He holds the Distinguished Flying Cross with Oak Leaf Cluster, the Ah- 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 feet long and has a wing span of 141 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. NOW SHOWING MATINEE DAILY Join and see a world of entertainment I A TOUT of amour with three "live-Jt-up'5 chow girls who kiss and tell and tell/. GENE KELLY-MITZI GAYNOR KAY KENDALL-TAINA ELG MUrriM JACQUES BERGERAC • Ira Hw Vr JOHN PATMOI h Ci7*™s™p. u< MtTROCOLOR taodito Fmtew IAUL CKAHJN • OlncM br CRMGI OlKOH - Coming Wednesday GALA NEW YEAR'S EVE SHOW TUESDAY NIGHT 10TO12:30PM r- NOW 1 Thru TUES. AFTERNOON OPEN 1 P. M. wor JOEL VIRGINIA McCREA-MAYO ONE OP TttHR fUNNIEST! U rr-r-y RO X Y Today, Monday 2 Westerns - 3 Cartooni Open Daily 1 p.m. 'RIVER OF NO RETURN 7 with "Buckskin lady" •with Richard D*nntng

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