The Courier News from Blytheville, Arkansas on March 11, 1955 · Page 3
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The Courier News from Blytheville, Arkansas · Page 3

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Blytheville, Arkansas
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Friday, March 11, 1955
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Page 3
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FRIDAY, MARCH 11, 1955 BLYTHEVILLE (ARK.) COURIER NEWS PAGE THREI Stock Market Boom In Speculative Stage, Senate Probers Told By ED CREAGH WASHINGTON (AP) — A New York financier-professor said today the slock market boom has reached the speculative stage. The government should move "carefully and cautious' ly" toward doing something about it, he added. "Speculation Commodity And Stock Markets- N«w York Cotton Mar May July Oct Dec 3313 33SO 3409 3424 3433 3373 3300 3410 3424 3434 3351 3363 3388 3411 3424 N«w Orleans Cotton Mar . May July . Oct . Dec . . 3332 3332 . 3385 3380 . 3406 3406 3424 3424 3435 3435 3332 3362 3385 3411 3424 3351 3370 3430 3332 3366 3390 3417 3431 Chicago Corn Mar . May 144 146 Y t 14414 146% 143 !4 145% Chicago Soybeans 271 Mar May July Sept 2705; 264</, 260 IA 251% 251% Chicago Wheat Mai- May 219% 21514 220 "4 216% 268 li 262% 257 " 2 247 H 219 2151/u 144 146% 270 2631/, 258 247 If. 219% 216 New York Stocks A T and T 179 1-4 Amre Tobacco Anaconda Copper Beth Steel Chrysler Coca-Cola Gen Electric Gen Motors Montgomery Ward N Y Central Tnt Harvester Republic Steel Radio Socony Vacuum .. Stud-Pak Standard of N J . Texas Corp Sears U S Steel 65 1-2 50 1-2 121 68 1-4 116 1-2 50 92 1-2 77 1-4 34 1-4 38 3-4 82 3-8 41 53 1-2 12 3-4 110 1-4 92 80 3-4 76 3-8 Livestock - ATIONAL STOCKYARDS, 111. W>—ruSDAI — Hog.s 9.000; active, uneven, weights 180 Ib up fully steady to strong; some 220-240 Ib down 15-25 higher: 170 Ib 25-50 higher :sows unchanged; choice 180-220 Ib 15.50-16.00. Inrjjc share 15.75 up; few 16.10-15' choice No. 1 and 2 nnd some unifonr under 210 Ib 16.25; most 220-240 ''I 15.2575; few 220 Ib to 16.00; 240-270 Ib 14.75-15.25, few to 15.50; 270-325 Ib 14.25-75; 150-170 Ib 15.00-50. few 15.75; sows 450 Ib down 13.7-14.2: heavier sows 12.0-13.25; boars 9.00-11.00, few 11.50. Cattle 500, calves 200; cattle finding moderately active sale nt steady prices; commercial and good steers and heifers 17.00-20.00: cows fully steady; utility and commercial 11.00-13.75, few 14.00; can- ncrs and cutters 9.00-11.00; utility and commercial bulls 13.00-14.50: canner and cutter bulls largely 9.50-12.50; good and choice vealers 18.00-25.00; few prime 27.00; commercial and good Venior.s and calves 14.00-18.00: ^ull and utility 8.00-12.00. has not gone too far as yet. But there may be E grave danger that it will do so,' Benjamin Graham told the Senate Banking Committee. He is chair man of the Graham-Newman Investment Corp. and a professor ol finance in the Columbia Univei-' sity School of Business. Graham and Gen. Robert E Wood, chairman of the Sears Roebuck & Co. Finance Committee, were called as today's witnesses in the committee's inquiry into stock market conditions. Graham offered some specific advice for the average investor in his prepared, testimony: "50-50 Chance" '•The principles of the prudent investor will require him lo lighten significantly his holdings of common stocks—the precise selling policy to depend, of course, on his individual position and methods. 'For the stock speculator . we think he has a 50-50 chance—or perhaps a little better—of seeing the market attain substantially higher than present heights, subject to the probability of intervening reactions." But the chances of holding onto added profits indefinitely, Graham Kaid, are "no better than in former bull markets—arid that is none too good." Graham said normally Congress ,hould not "meddle with the stock market" but -that the time seems now to have come to consider taking the "risky and controversial" step of intervening. Wants Gains Tax Change He proposed that Congress give the President authority to make changes in the rate of the capital :ains tax so it could be lowered and its operations modified in an effort to increase the supply of common stock. He said he also is inclined to favor "a fiiirly rapid advance" toward putting margin requirements at 100 per cent so as to halt stock buying on credit. Marriner S. E c c ! e s, former chairman of the Federal Reserve Board, made a similar recommendation yesterday. Harvard economist John Kenneth Galbraith has urged an end to credit buying at once. Various witnesses from the financial community, however, have opposed raising margin requirements at this time. Today's other witness, Wood, expressed a view that buying of stock by pension and profit-sharing funds "unquestionably has had a cumulative marked effect on the stock market in recent years." Court Hears Traffic Cases Municipal Court convened morning and three traffic \vere heard. R. T. Roberts forfeited a $5 bond on a charge of running a red light. George Saliba forfeited a $10 bond on a speeding charge. J. B. Cunningham forfeited a $111.75 bond on a charge of driving a vehicle while intoxicated. Obituary Lou Ellen Hargett Rites Scheduled For Tomorrow Services will be held at 2 p.m. tomorrow at Cobb Funeral Home Chapel for Mrs. Lou Ellen Hargett, 80, of East Highway 18 with Rev. Bill Cook officiating. Mrs. Hargett died at her home last night at 10:30, She was born at Munceford, Tehn. and had beun a Blytheville resident since 1901. Survivors include three daughters, Lorene Calvin of Memphis and Beatrice Hargett and Belva Hargett, both of Blytheville; and Juck Hargett, a stepson, also of Blytheville. Pallbearers will be Philip Deer, Garrett Abbott, Buck van CLeve, Clyde Perry, James Dick and Bob Featherson. Burial will be in Maple Grove Cemetery. Dust* Storms Rip Plains States KANSAS CITY \& — Dust storms whipped by winds up to 70 miles hour whirled across Great Plains states yesterday, blotting out springlike weather and harassing farmers. They were the worst of the year. In Colorado, Department of Agriculture officials estimated half the state's three million acres of winter wheat had been ripped out. The winds also lashed at topsoil in Oklahoma, Texas, Nebraska and Kansas but there was no estimate of damage to crops. New Stop Signs On Chickasawba Two stop signs were erected yesterday near the Cotton Belt Rail- 'oad on W. Chickasawba. Police asked motorists to please ,ake heed to the signs and stop at the intersection. Gosnell, Calumet Are Exceeds Its Red Cross Goal The Gosnell-Calumet area has exceeded its 1954 quota by reporting $148.50 in the Red Cross Drive, Community Chairman George Hamilton has announced. He also reported that a few other individuals are yet to report. $10 — E. S. Crawford, E. D. Hughes Gin. $5—E. G. Crawford, Bud-Wright, E. L. Gean, Roy McKay, Ark-Mo Gin, E. E. Stevens, Mrs. K. L. Maxwell. Charley Cain, John Tip Hollingsworth. $3^-Carl Ledbetter, G. A. Hamilton, Mr. and Mrs. J. P. Hocott. $2.50 — Mitchell West, Mrs. Lennie Dorris, Mervin Cook. $2 — Malcolm Greenway, T. M. Crawford, J. M. Frankum, W. D. Davis. I. T. Walker, Walter C. Maxwell, V. P. Stark, W. P. Canamore, D. L. Raspberry, Lee Hill, P. A. Conner, Andy Bevill, R. J. Hodge. SI.50 — Wilbur .Lee. $1 — H. Hart, Burnell Wright, C. A. Moody, W. H. Raspberry, Roy McMillan, E. G. Eubanks, Guy Gean, T. J. Glover, Murrow Potter, Tom Crawford, Rush K. Austin, O. H. Fulks, J. M. Gordon, Odell McCarmick, Eugene Ross, Mrs. J. C. Eubanks, Robert A. Brown, Ross Caldwell, C. L. Lucius, Roy Crawford, Mrs. E. H. McMurry, G. R. Ledbetter, F. E. Lucius, Floyd White, Mrs. F. E. Lucius, Mrs. Lucille Baggett, Mrs. Betty Southern, Mrs. Alice Hemby, Mrs. Kathryn Golden, Mrs. Neta Bunch, H. T. Moody, Annie Moody, Horace Allen, Mrs. H. E. Ashlock. Rube Bevill, Mrs. Rube Bevill, Wodrow Cook. YOUTH (Continued from Page 1) malnder of the service* will be at the Baptist Church. Morning services will be conducted at 8 o'clock each day witk evening services scheduled for 7:30. The week's activities are directed primarily to junior and senior hijjh school age groups, though ali services are open to the public. The program gained widespread popularity among teen-agers last year. The Rev. Wallace's Monday morning topic at the school will be "When You Are Young and Can't Help It." Monday night he will speak on "One View of Faith." \legro Deaths Rev. Ned Long Services for Rev. Ned Long, 67, who died last Friday at his home lere, will be conducted Sunday at p.m. in New Bethel Baptist Church by Rev. Evans. Burial will be in Joiner Ceme- ery. He leaves his wife, Gary Long; our brothers, I. L. Long, Cairo, . E. L. Lone, Memphis, Verna g. Dorena, Mo., Chummie Lohg, Jorena, Mo., and Dave Lone, Chi- jago; one sister, Lillie Kiltarew, Mel- vood. Ark. Caston Funeral Home is in charge. Willie Taylor Services tor Willie Taylor, 55. vho died Wednesday morning at ?hiek;Lsmvba Hospital, will be Sun- thi! . | day at 2 p.m. at New Hope Baptist cases i cliui 'ch at Yarbro by Rev. J. H. ' Harris. Burial will be in New Hope Cemetery. He leaves his wife, Conzetta Taylor; one brother, Mose Young, and one sister. Lillie Plummer, Lake Village, Ark. Caston Funeral Home is in charge. James Gray Returns From Far East Tour James W. Gray of Leachville was one of the 27 Arkansas Marines tboard the General Brewster when t. docked in San Francisco Monday torn the Far East. ROLL FILM DEVELOPING Lee Bearden Photography Child Art Studio Appropriations Continued from Page 1 cule, but their prompt disposition is a 'must.' " The committee voted the Post Office Department 52,685,700,000. In recommending $595,818,000 for the Treasury, the committee approved the entire $41,200,000 requested by the Customs Bureau and $278,500,000 of the $23G,000,000 sought by the Internal Revenue Service. Fuller Jury Takes a Break BIRMINGHAM, Ate. (/Pi—Weary jurors deciding the fate of former Chief Deputy Sheriff Albert Fuller failed to reach a verdict in the first few hours of deliberation last night and called it off until today. Barring a mistrial, the jurors will decide the guilt or innocence of the ousted Phenix City officer who Is charged with murdering A. L. Patterson, the man who had sworn to end the reign of vice there. A verdict of guilty could mean death in the electric chair for the 35-yeaNo!d former chief deputy. REDS (Continued from Page 1) more corn for livestock feed—as a meaas of boosting the nation's lagging farm output. 'In Des Moines, Lauren Soth, editor of the Register's editorial pages, said last night he felt certain the State Department would issue visas for such a visit. He said any Russian delegation would be welcomed in Iowa.) Street Work To Continue Workers have finished widening Walnut Street for one block from Second Street to First Street. Traffic was allowed an the block today after work was finished. Plans have also been made for widening several other narrow streets in the city, according to Mayor E. R, Jackson. YMCABoord Meets Monday RemUaj meeting of the Blytheville "Y" Board of Directors will be held Monday at 4:00 p.m. in the office of the Blytheville Chamber of Commerce. PKms for £he annual membership dinner will be presented for approval. Plans for the summer program will be initiated. C. A. Cunningham To WOW Meet C. A. Cunningham, a member of : the national judiciary commiitee, ' and R. T. CollJer will attend the: Arkansas state convention of the. Woodmen of the World, March 17- ! 19, in the Layfayette Hotel, Little [ Rock. I The event will ir ROLL FILM DEVELOPING Lee Bearden Photography Child Art Studio Paint Closeout Many Types and Colors i Price Hubbard Hardware Solon Hopeful Military Pay Hike Will Ease Draft WASHINGTON W) — Rep. Kllday (D-Tex) said today many congressmen* hope that prospects of higher pay wfll attract enough volunteers into the armed services to permit "reducing or eliminating the draft." He cited this as one of several possible reasons for virtual House unanimity yesterday in voting 398-1 to give career servicemen pay boosts ranging from 6 and 25 per cent. Rep. Taber (R-NY) cast the only negative vote. The measure, which no* goes to the Senate, provides an average 11.9 per cent increase for enlisted men and warrant officers with over three years' service. ROLL FILM DEVELOPING Lee Bearden Photography Child Art Studio EASTMAN KODAKS Movie Cameras KIRBY DRUG STORK Air Base Worker Dies in Memphis Services were held for Hyrme Haden Love, 55, at 10:00 this morning at Cosmopolitan Funeral Hbme. The Rev. W. C. Kruger will officiate and burial will be to National Cemetery. Mr. Love, a carpenter and painter at Blytheville Air Base, died Tuesday morning at Kennedy Veterans Hospital. CORRECTION: On Kroger Ad in Thursday's Courier News Prices Should Hare Been Kroger MARGATETEA S490 Evaporated PETMILK We regret any inconvenience this May have caused our customers. KROGER ROLL FILM DEVELOPING Lee Bearden Photography .Child Art Studio THEATRE ,0n W. Main St. iln Blytheville l=Phone 3-4621 A'VK/Mrf MVfcf* «• fWT fewWKff? If you don't, you're missing an easy way to siye money. Dividend-paying insurance policies through Lumbcrmcns Mutual Osualcy Company* are the answer. Call me—I'H be glad to jive you the details. Raymond Zachry Insurance Agency 118 N. 2nd Ph. 3-8815 •Home OHi«: ' yw PEACE of meetings and a business session. STOP! It U dangerovt to let cough from common cold hang on Chronic bronchitis may develop if your cough, chest cold, or acute bronchitis K not treated. Get Creomulsion quick and uscasdirected.lt soothes raw throat and chest membranes, loosens and helps expel germy phlegm, mildly relaxes systemic tension and aids nature fight the cause of irritation. Creomulsion is guaranteed to please you or druggist refunds money. CREOMULSION retiovct Covgta, Chest Cdth, Acute Bronchitis DRIVE IT FOR POWER You get more action-power per pound . . . with Studebaker! Flashing V-8 ... or thrifty Six. New, blazing getaway. New, whisper-smooth travel. Drive the smart car ... a Studebaker! COMPARE IT FOR PRICE Look at the luxury! Big-car size and style! 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March 12-13-14-15 The adventure written a hundred yean be~fore its time becomes a motion picture tc be remembered forever] 6ESTWAY CLEANERS Invites you to visit their NEW LOCATION Phon. 2-2408 2012 W. Main Now Equipped to Serve You Better Weekdays Show Starts 7:00 p. m.—Sat. & Sun. 1:00 p. m. THURSDAY and FRIDAY Double Feature [Bare-fisted love feud! h —AND— [BEHIND THIS 1 LQRETTA YOUHG WILLIAM HOLDEN ROBERT MITCHUM ftacta^ artdttie Also Cartoon SATU R DAY Double Feature —AND— •««,., HAZEL COURT • DEHMQI WALSH h HUGH. BURDEN • wnm«, Produced 0 ^ o,,^»j VOMOJ SEWtU.XMISMAN COHtM PB£5ENt*TK)H A urrfu nciuui must -ALSO- CARTOON & SERIAL SUNDAY & MONDAY Double Feature CINEMASCOPE Foun ii Hi iiuii n (-in:;, tifi-fiinji, siiidpumt siiii'iM —AND- CLIFTON WEBB DOROTHY McGUIRE JEAN PETERS LOUIS JOURDAN MAGGIE McNAMARA J REVENGE.. .to set your • nerves afire! JOHN PAYNE LIZABETH SCOTT DAN mm ,„ SILVER LODE ALSO CARTOON Can your house BURN OUT? Yes H ton. 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