The Courier News from Blytheville, Arkansas on January 8, 1955 · Page 8
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The Courier News from Blytheville, Arkansas · Page 8

Blytheville, Arkansas
Issue Date:
Saturday, January 8, 1955
Page 8
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BLYTHEVILLH (ARK.)' COURIER NEWS SATURDAY, JANUARY 8, 1954 Stout Bull Market Rebounds Vigorously Despite Blow Delivered by Government Bf RADER WINGET NEW YORK (AP) — The great bull market in stocks wa* pounded down savagely this week in its first real test, and it rebounded vigorously from the hard selling blows. On the final day of the week, ttu Mock market retraced 40 per cent of the average loss of the two previous days of swiftly breaking prices. K now stands right Highlights Johnson's Race With Knowland Demo Keynote No Surprises In Ike's Speech Or Response By .FRANK COR MIR.i.. WASHINGTON (^—Lyndon John•on of Texas, the Senate's Democratic leader, is the winner of an informal Capitol Hill foot race with Sen. William Knowland of , California, the Republican floor chief. When President Eisenhower finished delivering his State of the Union message to the new Democratic-controlled Congress Thursday, Johnson beat Knowland to the President's side and quickly offer- ad hte congratulations. Johnson's alacrity served as a eort of keynote for Democratic reaction to Eisenhower's broad outline of a 33-point legislative program to be offered later in more detail. Eisenhower's message generally drew bipartisan applause and some Democrats were quick to claim it had stolen their campaign thunder —that it even sounded a little "New Dealish." The President's address contained no real surprises. Many of his proposals were known in advance. In addition, Eisenhower called for bipartisan harmony in Congress. This he got in good measure —at the outset, at least. ORGANIZATION— Matching the friendly response to' Eisenhower's message was the good will in evidence when the Democrats formally — and by narrow margins — overturned GOP control of the House and the Senate. If there was a hero of the hour, Rep. Sam Rayburn of Texas could easily have claimed the honor. "Mr. Sam" was elected Democratic speaker of the House on (he eve of his 73rd birthday. Named to replace Republican Joseph W. Martin Jr. of Massachusetts, Rayburn took over the speaker's chair for the llth nonconsecutive year — an alltime record. Martin Was named to the top GOP post in the House, that of minority leader. In the Senate, Democratic around tiie levels of two weeks ago. . For nearly 16 months, the stock market hns been advancing steadily. Occasionally it paused for consolidation, but not for long. Since the election last November, the market has been rising with al most unprecedented speed to around the highest peaks in its history. Wall Street brokers and others were frankly worried about the swiftness of the rise and the explosive manner in which prices bounded ahead. There also was worry in Washington. On Tuesday after -the stock markets on the East and West Coasts had closed, the Federal Reserve Board in Washington raised margin requirements to 60 per cent from 50 per cent. There is relatively little trading on the margin in stocks today, although the total has been expanding in recent months. Furthermore, the order applied only to new purchases, not to stocks already held on margin. Real Meaning Plain It meant that you now have to put up a minimum of 60 per cent of your own money when you buy stocks on margin. The real meaning of the margin boost, however, was quite plain in Wnll Street—the Federal Reserve Board was concerned over the husky bull market behavior. The move was a yellow caution light. The next day the stock marke cracked wide open. Selling poured in from all sections of the country It looked as though everyone wanted to sell at once. Actually, they didn't. The great bulk of inves-+- tors stood pat. Volume was 4,640,000 shares. The Associated Press average of 60 stocks declined $3.40, the most for one session since the outbreak of the Korean War. Selling continued Thursday on an even greater scale with volume at 5,300,000 shares, greatest in more than 15 years. The average, however, was down only $1-60. If you want to generalize and apply that average to the total quoted value of all securities listed on the new york stock exchange, you can say that the quoted value declined an estimated five billion dollars on. Wednesday and Thursday. One extremely interesting observation came out of the break— there was little actual money lost. Many of those who sold their stocks, brokers said, had bought them days or weeks or months before and had substantial paper profits because of the long and steep 16-month rise of the market. When they sold, most probably missed peak prices, but they turned handsome paper profits into handsome paper dollars. Decline Arrested Obituary Mrs. Taylor Dies; Services Tomorrow at 3 Services for Mrs. Vela Agnes Taylor, 62, longtime resident of Blytheville, who died at 4:30 a.m. today in Chickasawba Hospital following a lengthy illness, will be conducted at 3 p.m. tomorrow ac Cobb Funeral Home Chapel by the Rev. H. M. Sanford. pastor of Lake Street Methodist Church, assisted by the Rev. Leon Wilson of Para- iould. Burial will be in Elmwood Cemetery. Mrs. Taylor was born in Ripley, Tenn., and came to Blytheville in! the early years of this century. | Survivors include her husband. | In looking back over the week, j Harry Taylor; four brothers, For-1 It is seen that the break retraced rest L. Hill of Lake City, Joe N. OES OFFICERS — These officers recently were installed by Wilson chapter of Order of Eastern Star. They are (first row, from the left) Louise Lynch, Maude Corbett, Martha Frances Craven, Russie Perry, Oline Williams, Bud Craven, Ora Owens; (second row) Allen Perry, Winnie Lou Wiley, Alma Harnden, Jean Henderson, Flora Bishop, Tommie Cash and D. D. Cash. * Federal Food Is Doubled something like one-fourth of the boom. That is min- normal correction. trol was signaled by the election of Sen. Walter George (D-Ga) as president pro tern, succeeding Sen. Styles Bridges (R-NH). The Democrats control the Senate 48-47. In addition, Sen. Morse (Ind-Ore) voted with the Demo crats on the question of control. In ihe House, the Democratic margin is 231-203. There is one House vacancy. STATE OF THE UNION — Eisenhower, addressing a crowded House chamber, said both parties are "on trial" in the new Congress and he appealed for bipartisan harmony—to . aid the free world's struggle for an enduring peace. During the last year, he sa . "there has been progress justifying hope, both for continuing peace and for the ultimate rule of freedom and justice in the world." In the military field, he called for emphasis on power and some manpower cutbacks. On domestic matters, he proposed a wide variety of actions, including postponement of a scheduled cut in excise and corporation taxes, and increase of the 15-cent minimum hourly wage to 90 cents. He also promised proposals in the health and education fields, among others. FIRST BILL — Soon after the President spoke, the Senate passed and sent to the House its first bill of the session. It would allow former Sen. Homer Ferguson (R- M.chi to remain on the Hoover Commission — looking for ways to Increase government efficiency — despite his election defeat last November. The first measure dropped in the House hopper would carry out Eisenhower's call for a liberalized foreign trade program. BEST PAW FORWARD—It's difficult keeping a good dog down. Born with only three legs, "Hoppy," a four-month-old part beagle, part terrier, manages to stand up for something to eat held by her master, Kenneth Webb, Jr., of Montoursville, Pa. Announcement Mr. C. D. Clark has purchased complete stock, furniture and fixtures of the Western Auto Associate Store, of Blytheville, as of December 30th, 7954. The new management will continue to operate under the same firm name. post-lection mum for Some analysts figure a maximum normal retracement at two-thirds of the previous gain. Brokers aren't saying that the decline has ended. They say it has been arrested. There is a dis- ;inct possibility the market will do what is called testing the lows. And what if it keeps on going down? As one broker remarked, ;hen you have a new ball game. However, the dip in the market was a technical affair, inasmuch as there has been no fundamental change in the nation's economy- Corporations whose shares are ;raded, in the stock market are still looking forward by and large their best year. Furthermore, the long-term bull market that has been with us since 1942 and has been going strong since 1949 is still arouna—only a shade under he highest peaks ever recorded- There is no gloom in brokerage offices. They are paid a commission for buying and selling shares 'or you. the total volume of trading this week on the New York Stock Exchange was 22,945,618 shares, greatest for any one week since the middle of 1933. Business has been so great there are reports in Wnll Street that the Stock Exchange may close its doors for a brief specified period n order to let hard pressed clerks catch up with their paper work. Hill of Memphis, Felix Hill of Bly- thevile and Bryant E. Hill with the U.S. Army at Camp, Chaffee, Ark : three sisters, Mrs. A. L. Crawford of Torrence, CaUf.. Mrs. John Giies ! of Wonder Lake, 111., and Mrs. W. M. Garner of Ottawa, 111. Active pallbearers will be Carl. Matthews, Sam Smith, Ansel Harris, A. L. Wood, Harmon Ellis and Del Turner. Honorary pallbearers will be Mayor E. R. Jackson, Russell Campbell Dr. H. C. Sims, Raymond Bomar, Billy Gaines, Buford Martin, E. H, Lashofct and John Foster. Hammarskjold, Chou Meet In 5-Hour Session TOKYO ported Dag — Peiping radio re- Ham marskj old and 'remier Chou Kn-lai met for more :han five hours this evening regarding the I! U.S. airmen impris- med by Red China as "spies " It was the longest closed-door iession of the three held thus far. The broadcast gave no details iside from those attending 'he ses- ion but said another meeting would be held Monday. Today's meeting meet between ,he secretary general and the Chi- icse Communist leader began at i i.m. and continued until 8:10 p.m. W. M. BURNS Insurance Agency We have some good, well Ideated homes in Blyhevillc for sale. Also Farm lands and farm loans. Our insurance is in sound capital stock old line companies. We go your bond. j Our service is as good as- the best. i I Our off ice 219 West Walnul Phone 3-3361. Call or see us. W. M. Burns, Realtor Insurer In Osceola ... You may buy the Courier News Cramer's Cafe and Reidy Drugs Safety Campaign Being Conducted By Luxor a FFA A two-phase safety campaign is being conducted by the Luxora Future Farmers of America chapter. In the First phase, each boy in the chapter Is to correct one or more hazards around his ."lome or farm. The second phase calls for inoculation of all dogs in the Luxora vicinity. Dr. David N. Miles of ... Blytheville is helping with this & es ha d suffered from the effects program. Price will be $1.50. of last summer's drought. Counties where needy persons are receiving the federal aid are Mil- LITTLE ROCK tfP) — Federal surplus food rations have been doubled for needy families in 20 Arkansas counties. State Welfare Commissioner A. J. Moss said yesterday the ration increase was ordered by Raymond Totaro, director of the Federal Surplus Commodities Distribution Service at Dallas. Moss said eight to 10 thousand Arkansans are receiving the surplus food. He said" most of the fam- Sisfer of Local Woman Succumbs aid, 82, sister of Mrs. Walter Bishop i of Blytheville, who died Thursday! at Memphis were to be conducted at National Funeral Home, Mem-j phis, this morning and at Cherry Creek, Miss., Baptist Church this! afternoon. Memphis services were' conducted by the Rev. Mark Harris i Burial was to be in the Cherry Creek church cemetery. Mrs.. Fitzgerald had been ill for one year. She was born at Pontotoc, Miss., and had lived in Memphis for 50 years. Other survivors include two daughters. Mrs. J. Paul Stalls of Memphis, Mrs. R. B. Brown of New Orleans; a son, C. Ed Fitzgerald of Memphis; five sisters, in addition to Mrs. Bishop and two brothers. The following schedule has been set up for giving all dogs rabies shots: Jan. 8 — Victoria Store, 2-3 p.m.; VVhistleville Store, 3-4 p.m. Jan ,15 — Little River Store, 1-2 p.m.; Cross Roads Store, 2-3 p.m.; Hightower Store. 3-4 p.m. Jan. 22 — Flowers Store, 2-3 p.m.; Langstons Store, 3-4 p.m.; Stanfords Store, 4-5 p.m. er, Cleveland, Columbia, Crawford, Arkansas, Greene, Howard, independence. Izard, Lee, Logan, .lincoln, Madison. Ouachita, Polk. Searcy, Sevier, Sharp, Stone and Washington. , Mrs. Dinnell Rites Sunday CARUTHERSVILLE - Mrs. Florence Dinnell, 93. of Canithers- , . viUe, died at her home at 1309 Pnr/rc KOCKS SYDNEY, Australia UP) — The New Hebrides, Islands have been rocked since Wednesday by a series of earth shocks that have collapsed houses and uprooted trees, according to reports reaching here today. No casualties have been reported. morning-. Funeral services will be conducted at 2:30 p.m. Sunday at the LaForge Funeral Home Chapel here by the Rev. Eric Smith of Kennett. Burial will be in Little Prairie Cemetery here. Mrs. Dinnell was born on May 24. 1861, and has lived in Caruthersville for the past 34 years. Two sons, Frank and Roy, as well as her husband, preceeded her in death. She was a member of the Free Pentecostal Church. She is survived by 13 grandchildren, 32 great-jrrandchildren, and Adams Avenue here early Friday' 12 fireat-great-grandchildrcn. Negro Deaths Feto Williams Services for Feto Williams. 66, who died Friday at Blytheville Hospital, will be conducted at 2 3.111. Sunday at Morning Star Bap- List Church by Rev. S. A. Parker. Burial will be in Burton Spur Cemetery with' Caston Funeral Home in charge. Survivors include his wife, Sarali Williams, and one son, Willie Williams. , First telephone line was installed ictween Boston and Somerville .lass., in April, 1877. Paint Closeout Many Types and Colors \ Price Hubbord Hardware SIMPLIFY SHOPPING AND SAVING WITH What do you Need? - Get it fast with a low cost want ad! Thrifty women — and men, too — read our classified ads every day for the best reason in the world: YOU SAVE! ! Want ads in thii paper are a market place for everything you want to buy, sell, or swap and — for expert services. . . . Get the classified shopping habit, now. ... we will help you write the Ad! Ads placed before 5 p.m. will appear next day, except for Monday's paper when ads must be placed by noon Saturday. All classified advertising payable in advance. BLYTHEVILLE COURIER NEWS Anti-Kissing Squad In Action In Turin Theaters New Pemiscot Prosecutor Takes Over CARUTHERSVILLE — Jarnw A. "Tick" Vickery, new prosecuting attorney of Pemiscot County, served in that facility in Magistrate Court for the first time Thursday. The session lasted from 9 a.m. to 5:15 p.m. Arthur Grant and Johnny Weaver, Negroes, charged With grand larceny, were given their preliminary hearing Thursday and wer* bound over to the next term of Circuit Court. Bond was set at $1,000 each and the defendants were released on security bonds. They are charged with the theft of copper wire and a radiator from McCoy's junk yard Dec. 8. Grant is from St. Louis and Weaver fe from East St. Louis, 111. Preliminary hearing wae given Buddy Williams and Edna Earl Copeland on a charge of burglary and larceny and they were found not guilty. The charge of grand larceny against Elmer Shrum and C. W. Cothran was dismissed by the state. A felonious assault charge against William Dial was taken under advisement until Jan. 13. Hearings for Grady GrJssom, accused of grand larceny, and Billy Dildine, charged with attempted rape, were continued to next Thursday. TURIN, Italy (if}— A new police i antikissing squad has gone into motion picture sing squad action in Turin's theaters and in the first four hours they arrested 35 couples. Police headquarters announced members of the squad will patrol the movie houses daily hereafter. "This kissing in the dark will have to stop." the new squad was instructed. "Maybe people go to movies to see kissing on the screen, but not all around them in .the theater." None of the kissing couples was kept in jail. They'll be called for trial later, if police think charges against them will stick. Conviction calls for up to a month in jail, or flnes up to 16,000 lire—about S26. "SECOND CAPITAL" Denver, Colo., second only to Washington, D. C., in the number of government agencies represented, often is called the "second capital of the United States." Vitt Quits Post As Editor NEW YORK (/P)—George N. Vitt's letter approving the Agriculture Department's dismissal of Wolf Ladejinsky has brought Vitt's resignation from his own job. In resigning as editor of American Exporter publications, Vitt said yesterday he did so because of "misinterpretation and involuntary character assassination" resulting from the lettev. Vitt had written to Agriculture Secretary Ezra Taf Benson approving his department's dismissal of Ladejinsky as agricultural attache in Tokyo. The letter was later made public and quickly drew criticism as being anti-Semitic. An ice cube wrapped in a piece of cloth is handy for moistening glue on stamps and envelopes. :YOUR FRIENDLY THEATRE The House of Perfect Sound & Projection January 9 and 10 : FOUR KHESPERATE MEN ...AND A •VE-HAUNTED ...following the trail of hate their outlaw guns had blazed! One for all and all for trouble, fighting for the lipa that were promised to the one who got through-all vej x3?& n st**±v RORY CALM COLLEEN MILLER GEORGE NADER- WALTER BRENNAN NINA FOCH- JOHN McWTKE -.CHARLES DRAKE-Jff SllVERHEELS-KSTQft PAIN.! tcrti *, Gtcfi&c VAN mum * IMMUN cot!<*tM 5L RAZORBACK Serving The Best Seafood In Town! Vs Dozen Fancy Select Fried None Finer Anywhere Jumbo French Fried. . OYSTERS '1.25 SHRIMP '1.25 The Above Served With Combination Salad and French Fried Potatoes

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