The Courier News from Blytheville, Arkansas on March 8, 1955 · Page 10
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The Courier News from Blytheville, Arkansas · Page 10

Blytheville, Arkansas
Issue Date:
Tuesday, March 8, 1955
Page 10
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BLYTHEYILLB (ARK.) COURIER HTEWf TUESDAY, MARCH 8,1988 Another Market Crash Possible, Economist Says By ED CREAGH WASHINGTON (AP) — John K. Galbraith, Harvard economist, said today the United States may be in the early stages of a boom-and-bust cycle that could end in a 1929- style crash. Galbraith told the Senate Banking Committee there are "formidable safeguards" against another such crash. But he spoke in his prepared testimony of "resemblances" between conditions in the late 1920s and today that he said "are certainly interesting and possibly disturbing." He urged that the government and Wall Street be ready to halt credit buying of stocks and to put on other emergency brakes if the l»' 2 -year-old bull market shows no sign of slackening in the near fu- The committee called Galbraith and Harold E. Wood, of St. Paul, Commodity And Stock Markets- New York Cotton (M:M QMtatfoBB) Mar 3356 3367 3327 3330 Mav 3370 3374 3345 3348 July 3384 3389 3365 3369 Oct 3416 3420 3493 3437 Dec 3424 3425 3408 3408 N*w Orleans Cotton Mar . 3335 3335 3313 3317 May 3357 3363 3344 3346 July 3378 3382 3367 3370 Oct 3410 3412 3393 3396 Dec '3422 3422 3407 3408 Chicago Corn Mar .... 136% 140% 138'/ 2 140% May .... 142% 143!,;, 141% 143!/ 4 Chicago Soybeans Mar .... 26T/2 269i/ 4 266V 2 268',;, May .... 259'/, 261 "/ 4 258^ 200", 4 July .... 254% 2661/2 253% 256 la I Sept .... 246 24614 244 245 Minn., president of the National Assn. of Securities Dealers, in its "friendly study" of the stock market in the light of the stock price rise. Strength Cited Galbraith voiced agreement with stock exchange presidents who testified earlier that the American economy is far stronger than in 1929. He agreed too there are safeguards against a new crash, among them curbs on "wholesale market rigging and fervent salesmanship." But he cautioned that "the fundamental problem of containing a speculative orgy, once it Is well launched, remains essentially unsolved." Galbraith, who has written a soon-to-be-published book on the 1929 financial debacle, saw such danger signs now as increased credit buying, an influx of newcomers into the market and a growing gap between the sale price and the book value of shares. BOARD Chicago Wheat Mar .... 213% 214'/ 2 21134 214',:, May .... 208!'2 210'/2 207% 210',i New York Stocks A T and T 185 Amer. Tobacco 66 1-2 Anaconda Copper 53 1-4 Beth Steel 1283-8 Chrysler 70 3-4 Coca-Cola 119 Gen. Electric 51 3-8 Gen. Motors 95 3-4. Montgomery Ward 79 1-2! N. Y. central 36 1-8 Int. Harvester 38 1-2 Republic Steel 84 7-8 Radio 44 1-8 Socony Vacuum 55 7-8 Studebaker 131-2 Standard of N J 114 7-8 Texas Corp 94 1-2 Sears 82 5-8 U. S. Steel 78 3-4 Livestock NATIONAL STOCKYARDS. 111. Ml—(USDA)—Hogs 13,000: steady to lower; bulk choice .180-220 Ib 15.25-75; choice No. Is and 2s 15.85; lowest since March 29, 1950; 220-240 Ib 15.00-50; 240-280 Ib 14.5015.10; 150-170 Ib 14.50-15.25: sows 450 Ib down 13.75-14.25; heavier sows 12.50-13.50; boars 9.00-12.00. Cattle 4,500, calves 1,200; about steady; one lot choice steers 26.50: high good and low choice mixed yearlings 23.00; cows, utility and commercial 11.00-13.75; canners and cutters 9.00-11.00: bulls utility and commercial 13.00-14.50; canners and cutters 9.50-12.50; good and choice vealers 18.00-25.00; individual prime 27.00: commercial and good vealers and Calves 14.0018.00. (Continued from Page 1) §36,500 bond issue also contemplates no increase In the present 50-mill rate. The bond issue is for completion of payments on the gymnasium built two years ago, for additional school equipment and for repair to present buildings. No new construction is planned. One school board term expires at Leachville and incumbent, Leroy Carter, is not seeking re-election. L. D. Keith is unopposed for the five-year post. Two zones in the county will elect county school board members. Both are uncontested positions. Richard Cromer is candidate for the zone three position held by the: late G. B. Seagraves. There are four years remaining in the un- expired five-year term. Electors in four school districts vote on the zone three position. They are Osceola, Luxora, Keiser and Etowah. . Zone two candidate is incumbent C. F. Tompkins of Burdette. Zone two districts are Blytheville, Gosnell, Armorel and Burdette. Other Districts Other districts have the following unopposed candidates and mil- lage rates listed on the ballot. Luxora — incumbent A. B. Rozelle, five-year term; 40 mills. , Shawnee—incumbent Calvin Williams, five-year term; 50 mills. Armorel — incumbent W. E. Hagan, five-year term; 45 mills. Manila — incumbent Mrs. V. B. Osborne, five-year term; 50 mills. Dell — incumbent C. W. Garrigan, five-year term; 39 mills. Wilson — L. W. Chandler, five- year term, now held by Tom Mc- Clencion (not seeking re-election); •15 mills. Kci^er — incumbent Lewis Wil- bfinks, live-year term; 50 mills. Etownh — incumbent Lloyd C. Shelton, five-year term; 50 mills. Brinkley — E. M. Bourland, five- year term, now held by T, A. Bour- Jand (not seeking re-election); 40 mills. Mississippi County District No. 55 (Bondsville) — Bryan M. Bonds, five-year term, now held by Harry Bond (not seeking re-election); C. R. Lester, incumbent, three-year term; 25 mills. Bond Forfeited On an almost empty Municipal Court docket today, R. T. Roberts forfeited a $5 bond on a charge of running a red light. KOOLVENT ALUMINUM AWNINGS CALL NOW Ph. 3-4293 FOR FREE ESTIMATE SMITH AWNING CO. 113 S. Flnt PACKAGED ICE CREAM ICE CREAM ICE CREAM ICE CREAM ICE CREAM ICE CREAM ICE CREAM Guaranteed Quality We manufacture our own High Quality Ice Cream KREAM KASTLE DRIVE IN USED TRACTORS MOST ALL MAKES and MODELS Wt have th« tractor for you! Comt in today and hav« a look. 61 IMPLEMENT CO. • The Farmcr'i Home of Satisfaction" N. ffighwiy Ph. 2-2412 Obilwry Dell Man Dies Suddenly at Home Funeral services will be held to- norrow at Pontotoc, Miss, for Lon Weeben of Dell. He passed away rather suddenly of a heart attack at .his home in Dell. Mr. Weeben had been a resident of Dell since 1934. He Is survived by his wife Polly; four sons, Wollis of Cleveland, Ohio; Prank and Floyd, both of east St. Ixmis, Mo. and Hollie of Pontotoc and one daughter, Mis. Bois Richardson, also of PontoUx:. Brother of Local Man Passes Funeral services will be held at 2:00 this afternoon for E. E. Mc- ilure, brother of Joe McClure of Blytheville, in the Mitchell Funeral Some of Parago.uld. He died of a heart attack In Wynne Hospital. Mr. McClure was the owner and operator of a large rice farm near Wynne. Survivors include a daughter and a son, five brothers and two sisters. SALES TAX (Continued from Page 1) >ostpone action in the House until Thursday morning, last day of the session. * A motion to dispense with read- ng of the Journal technically is not debatable but this rule didn't ceep a dozen or more representa- ives • from clamoring for recogni- ion at the same time, when the motion was put. Before a vote was finally taken, he House was thrown into an up- oar with shouted threats of repri- al, a little fist-shaking, but no ac- ual blows. After the reading had been underway about an hour. Rep. Carroll C. [ollensworth of Bradley County got he floor and moved for unanimous onsent to dispense with further eading of the journal. Backers Objected Resentful sales tax backers, in- luding Rep. W. L. Ward of r Lee County, who has been the admin- stration's floor leader in the week- d fight, objected. Since the necessary unanimous onsent was not forthcoming, the eading continued. The sales tax bill wasn't the only nea.sure caught by the protracted i eading. The maneuver also stalled House consideration of a slough of Senate neasures which awaited the lower chamber's action on the lust Senate day of the session. There was speculation in the House that the Senate might take some counter action to prevent consideration of House measures in odny's House Day in the upper egislative branch. Most House members remained n the chamber arranging papers, •eading- or visiting as the reading progressed. Stick With It Apparently, both friends and foes of the tax bill were loath to leave Tor fear that the opposing Mete night have some parliamentary rick up its sleeve. Some members studiously read heir House rule books in (he ap- >arent hope of finding some way hat the reading could be stopped. A bridge game went on in a clerk's office adjoining the House New Attack Warnings Worked Out WASHINGTON l£) — The United States and Canada have worked out new simplified signals to be sounded on sirens, horns and other warning devices in the event of enemy air attack. The new signals, effective at once, were announced last night by the federal civil defense system. They are: 1. Alert signal — a steady blast of three to five minutes on warning devices. 2. Take cover signal — a wailing tone or a series of short blasts continuing for three minutes. Civil defense officials said they believe "the public can be more readily trained to recognize" the new signals, which supersede all previous warning instructions. In most target areas, the civil defense announcement said, the alert signal will indicate evacuation. In most nontarget areas, it will call for mobilization of civil defense forces. COTTON (Continued from Page 1) of the present big cotton surplus. However, he said the department would reappriase its opposition if Congress agreed on some bill to relieve "hardship" cases with a "moderate" increase. The Johnson plan was advanced with the idea of getting department approval. Whether southeastern and western cotton states could agree on the new bill was a matter of speculation. They were at odds over the House bill and the first Senate subcommittee proposal. Red Cross Board Meets Thursday The regular Board meeting of the Red Cross will be held at the Chapter House Thursday evening it was announced today by Siegbert Jiedel, chapter chairman. chamber. Holl ens worth, who has been associated with the House as a mem- aer or parliamentarian every ses sion since the early 1930s, said thiL was the first time that he has seen a reading of the journal which apparently was to be carried to its conclusion. He said that on several occasions a reading had been started but Within a few minutes someone obtained unanimous consent of the House to call a halt. Rep. W. C. Blackwell of Yel. County said that in the 1923 session the journal was read in full during a filibuster over a road improvement tax bill. Blackwell was returned to the House this session after having served previously. He also is former legislative sergeant-at- arms. Lasting Relief fsr PILE PAIN: CLINIC-TESTED Thornton - Minor Ginfmer? You feel soolhinn comfort so fnst. too. That's because 'I'horn(on-Miner Ointment Li a complete formula with fast- acting, Ion?-lash rig special insmli«nt« to check itching, burning, pnin nnd help reduce swelling Diriment or mp- pository form, only SI.00. Ask lor it at any drug slore but insist on genuine Thornton-Minor Ointment. MY SPIRITUAL DSARY The beioved author of Angel Unaware invites you to share the inmost secrets of her soul—the true story of her long, hard journey in seeking out a faith to live by. Along the way, you will meet others in the limelight, step behind the scenes at Madison Square Garden and at various TV studios, and visit Dale and Roy Rogers' Hollywood home. Most important, you will be inspired by the,way Dale Evans truly lives her faith and reflects it to others wherever she goes. $2.00 Do/t Evans and Roy. Roger! can be heart] and Ifton ovtr yflr /oca/ NBC radio and TV statiani. ==•== Order your copy today! -- -* Tri-States School Supply 108 S. First, Blytheville Phone 3-6815 The Finest USED TRACTORS Are Traded in on the NEW FORD 600 and 800 TRACTORS You Can Buy Them At Bargain Prices-Easy Terms At SNOW TRACTOR CO. 112 N. Franklin Phont 3-8951 ASSEMBLY (Continued from Page H no one except the prcprleter works in the establishment on Sunday, Third, the city of Texarkana is exempted. Howell said the rural stores were cut out to allow fishermen and tourists who might need food and fishing equipment to buy them on Sunday. Texarkana was exempted, he said, because Texas doesn't have a Sunday closing law, and it was feared the bill might drive business from the Arkansas to the Texas side of that border city. The Little Rock senator said the bill would keep big chain stores from cutting out the little grocery merchant from a fair share of business. The Senate yesterday heard a member attack the president of Southern State College. Sen. Jack V. Clark of Texarkana charged that Dr. Dolph Camp of Southern State is a "selfish man who is not interested in the education of the youth of Arkansas." Clark made the remark in seeking Senate approval of a bill to force Southern to enter a reciprocal agreement with Texas colleges. The -agreement would require Southern to charge the resident tuition rate to Texans. The bill espoused by Clark, previously passed by the House, was defeated 12-8. Legislative action on the complex plan to bring up real and personal property assessments throughout the state to 20 per cent of value passed still another hurdle yesterday. The Senate approved 31-0 a House bill to reorganize county Tax Equalization Boards to give cities and school districts a voice in the selection of board members. The board would have the power to override assessments by the county tax assessor, and could raise or lower the assessor's figures. When, and if, another House bill, to raise the salaries of most county assessors, is passed, the assessment program will be completed. The bill empowering the state to force, through possible loss of state turnback funds, the reassessment of property already has been approved by both houses. In other actions yesterday, the Senate: 1. Passed the new bill to distribute schools funds on the same basis as in 1953-54. The action followed defeat in the House of a bill which would have deprived urban areas of state educational aid. 2. Reversed itself, and defeated a bill to cut the state liquor tax from S2.50 to SI.50 per gallon on the plea of Sen. J. E. Garner of Fort Smith that the tax was so Red Cross Lists Community Heads The Red Cross has named the following chairmen for the rural and outlying communities, A. O. Hallman, rural chairman, has announced: Yarbro, Clyde Gaines; Dogwood Ridge, Mrs. Otto Scrape; Promised Land, J. M. Veasey; Half Moon, Mrs. C. W. Garrlgon; Whistleville, Mrs. Fred Kelly; Dell, Klwanis Club; Lost Cane, Ben Eoff; Roseland, Virginia .Rose Wilson; Plat Lake, Mrs. C. M. Abbott; Number Nine, Charles Langston; Armorel, Marion Dyer; Gosnell- Calumet, George Hamilton; 40 & 8-HiuTman, W. T. Metzger; Bar- fleld, J. C. Ellis, Jr.; Clear Lake, Mrs. A. P. Burks; Lone Oak, Mrs. Glen Alexander; Tomato, E. E. Elam; Burdette, Hollis Jumper; New Liberty, James Middleton and Air Force Base, E. A. Rice; Manila, W. R. Fox; Blackwater, R. A. Scott; Brown Spur, Bill Williams; Shady Grove, Mrs. Artis T. Brewer; Mllligan Ridge, Herman Holt and M. D. Dennis; Leachville and Boynton, W. L. Bryant; Pawheen, Glen Metheny; Rocky, Norman Bailey; Box Elder, W. E. Crafton. high it actually was 'ising revenue for the state. Oarner said Arkansans drive to adjoining states to buy whiskey and avoid high- taxes. Previously the Senate had passed the bill, but it was recalled by Garner from the House when that body tried to kill it. 3. Refused to recall from the House a bill which might allow the legal sale of liquor in Arkansas' dry counties bordering Louisiana, Missouri and Oklahoma. The bill is designed to stop Arkansans from leaving the state to buy whiskey for cut-rate prices in ad- joinning states. 4. Approved shifting the date for buying truck licenses from February to November to help small farmers, who have more money available at harvest time. Old? Get Pep, Vim /eel Full of Vigor; Years Younger TM of 40, 50, 60. Dou't be hausted. Take new, higher-potency jlc Tablets. Often needed after 40— by hotly old, run-down just because lacking iron; Increases vim, vigor, vitality. Thousands feel full of pep, years younger. Quit being old. "Get-acquainted" Mze SOp. At all druggists. Two Mishaps Break String After going six dayj without an accident, motorists in Blytheville got buck into the swing of things by having two minor collisions yesterday afternoon. On Ea»t Main Tommy McClurc, 2112 Chickasawba, collided with Kenneth Byrd, 605 Jamison, In an accident which pccurreed about 1:00 p.m. yesterday. E. A. Shannon, 607 Boone, and Rosevelt Davis, 101 W. Roosevelt crashed at 5th and Walnut about 5 p.m. Both accident* resulted in minor damages to ail cars. New Awnings—Awning Repair Phone 3 - 4-2-9-3 SMITH AWNING co. (Formerly Ford Awning Co.) The NEW Look of Spring... Do you enjoy the "brand-new" look of Spring? Well, we're looking new, too, with our spring line of Curlee suits! Drop in and see for yourself. You'll find new developments in fabrics—the latest products of leading mills—in a variety of weaves and color tones. You'll find distinguished styles and fine tailoring. Best of all—you'll find a wide selection of models and sizes, to fit you and keep you looking sharp as the season! Come in while our slock is complete. FROM $35.00 MARTIN'S MENS STORE "Everything for Men and Boys" Red Cross Starts Its Block Drive The business section of the American Red Cross fund drive in Chickasawba District got underway here today under the direction of co-chairmen For Etonieson «nd Harvey Morris. Block workers met nt the Red Cross office this morning to get Instructions for calling on employe! In the business section. WE BUY USED FURNITURE PHONE 3-3122 Wade Furn. Co. Paint Closeout M»nj Typo »xl Co4or» i Price Hubbard Hardware Best You Can Buy HO HATTER HOW MUCH YOU PAY FOR ASPIRIH —because St. Joseph Aspirin acts so fast to relieve misery of colds' aches, muscle pains, headache. Gives you the best aspirin relief possible at any price. So do at millions do, demand St. Joseph Aspirin; Get The Best Far Less... 200 TABLETS lit . 100 TABLETS 49( • 12 TABLETS 10< who's the lad in the ripple-weave suit by Jayson Wonderful new fabric for the fellow going .around in social circles! Not even a sheep would guess it's rayon, that's how much it feels, looks and drupes like worsted! Styled in the Jayson manner, in the flattering new natural line. Very important looking, too, in the season's most popular new shades. A 1 beautiful buy, as well. Treat your lad to a Ripple-Weave suit, today. si zes 4 ( 0 20 5/98 $-)J98 '6'V24 EXTRA SPECIAL ONE LOT OF 350 Boys Sport Shirts 79 C All Nationally advertised brands. Shorf sleeves. Nylon and cotton plisse. An unusual offer with warm weather just ahead. Reg. 2.98 and 3.98 shirts. Sizes 1 lo 18. MARTIN'S MENS STORE "Iverything for Men and Boys" MERCHANTS LUNCH-75c SOUTHERN STYLE CRACKLIN' BREAD SERVED DAILY "Mom" Rice's Home Made Pl«s Kalian Spaghetti — Chicken & Dumping! DRIVE IN RAZORBACK SORE STRAINED MUSCLES Heed BOB'S GYPSY RUB LINIMENT

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