The Courier News from Blytheville, Arkansas on March 12, 1955 · Page 8
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The Courier News from Blytheville, Arkansas · Page 8

Blytheville, Arkansas
Issue Date:
Saturday, March 12, 1955
Page 8
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PAGE EIGHT BLYTHEVILLB (ARK.V COURIEE NEWS SATURDAY, MARCH 12, 1958 Fulbright Says Stock Market Probe Dashes Wall Street Argument WASHINGTON (AP) — Sen. Fulbright (D-Ark) said today he thinks the Senate's stock market inquiry has pretty well demolished a Wall Street argument that the capital gains tax has a lot to do with keeping stock prices high. Fuibright heads the Semite Banking Committee, whose "friendly study" of the market and its 18- month-old boom is in recess for the weekend. Its witness Monday will be William Mac Martin, Jr., chairman of the Federal Reserve Board. The inquiry has heard conflicting testimony about the capital gains tax. Several witnesses from the financial community argued that it forces prices up. They contended people don't want CO sell stock If they have to pay a it on then profits. The result, they say. is a smaller amount of stock for sale and hence a higher price. So they called for reduction if not elimination of the tax. Ohio River Crest Due At Louisville LOUISVILLE, Ky. f.-B — The Ohio River, its flooding fury almost spent, was expected to crest today from two to eight feet above flood level at several points downstream from Louisville. Meanwhile, upstream to Pittsburgh, a major cleanup job had begun at points where the rampaging river inflicted damage estimated at 13 million dollars and left thousands homeless. No further major destruction was foreseen as the flood waters, worst since April, 1948, drifted toward Cairo, 111., where the Ohio dumps into the Mississippi River. The Louisville district of the U. S. Corps of Engineers predicted crests today at Tell City, Canncl- ton, and Evansville, Ind., and at Hawesville, Owensboro, and Henderson, Ky. The Weather Bureau said the j river would be back within its j banks by Tuesday. No rains of any consequence are forecast the next day or two, so the fall should be rapid. The capital ga:ns tax as it affects larger investors now is 2 per cent. That is, if a man sells stock at a profit he has to pay the gov eminent one-fourth of the difference between what he bought it foi and what he sells it for. The tax applies to securities held six months or more. Little Evidence Fulbright told reporters he has Feen little evidence to support the ' Wall Street argument that investors are ''locked in"—that is, discouraged from selling—by the capital gains tax. '•I think it is very clear," he said, "thai there is very little .support for tiie idea that the capital s;r,in;-' tax has any substantial ef- i'eet on keeping market prices up." The Arkansas Senator inclined more to the view of other witnesses, including Harvard economist John Kenneth Galbraith, that repeal of the tax might push prices higher. Fulbright said lowering or eliminating the tax might put more stock on the market for a short time. But the net result, he said, would be to make stocks more attractive so that more and more people would want to buy them and ultimately prices would go back up. The market itself rounded out an unsettled week with a third day of decline after a general recovery on Thursday. Some persons professed a belief the Senate hearing may have unsettled the trading, but most analysts saw the .decline as a necessary correction after the long advance into new highs. On another aspect of the inquiry, Fulbright said some tightening of securities laws may be called for to cope with mushrooming promotions of highly speculative stocks such as penncy uranium shares. He said he wasn't too hopeful of results, though. "This is the sort of abuse we'll probably always have with us," he .said, and much of the questionable trading and promotion, because it is carried on within single states, is beyond the reach of federal law. HAVE A CUP 0' PUP—She's six \veeks old and weighs four ounces. This cupful of canine cutcness belongs to Walter McMahan, of Mcdford, Ore., and is one of a litter of four. One parent is a Chihuahua, the other a Manchester terrier. PICKARD'S GROCERY & MARKET • Fresh Fruit & Produce • Fresh Dressed Poultry I The Finest in Beef, Veal, Lamb &Pork Nationally Advertised & Fancy Groceries 2-2043 Call In w Deli Come In 1044 Chick Democrats Set May Meeting With Governors WASHINGTON Iff) — The 27 Democratic governors have been nvited to meet here May 4-5 in line 'ith National Chairman Paul M. lutler's vow to give the state executives "more importance in the >arty structure." Butler announced last night he las invited the governors to dismiss plans for the 1956 campaign vith national committee officials nd party leaders in Congress. Two of those invited bolted the lational ticket in 1952 to support Dwight D. Eisenhower for presi- lent. They are Allan Shivers of 7exas and Robert F. Kennon of Louisiana. Kennon recently voiced pposition to Democratic renomi- lation of AdLai E. Stevenson. Dr. Brownson's Brother Passes John Joseph Brownson, brother of Dr. J. P. Brownson of Blytheville, died Wednesday at his home n San Francisco. It was exactly two weeks ago Wednesday that George Brownson, another brother of Dr. Brownson, passed away of a heart attack vhile visiting here. J. J. Brownson also died of leart attack. He had visited Blytheville several times. Holbrook Rites Are Tomorrow Funeral services will be Sunday T Mrs. Henry _J. Holbrook of Hickory, N. C. She died at the home of her laughter, Mrs. E. Harold Shuford, . Hickory yesterday. She is the grandmother of Mrs. larry A. Haines of Blytheville and s survived by another daughter, Miss Margaret Holbrook, Char- oltesville, Va. '"lew Radiation Detector Found BALTIMORE (/P)— An inexpensive adiation detector "no bigger than package of king-size cigarettes has been developed by Army dentists. The Army Chemical Corps Mate- ial Command, which has head- [Uarters here, said the device, call- id a tactical radiation dosimeter, nn measure accurately the amount >f deadly radiation the individual las absorbed. Unlike iU existing counterpart. film badge, the dosimeter can be ised repeatedly and doesn't need irocessing to show the presence of adioactivity—liquids in five glass ,ubes change color to show the igns of danger. Pope Attends Rites Honoring His Coronation VATICAN CITY (/P)—Pope Pius XII, robed in his gold-star-studdecl cape and wearing his trlregnum. was acclaimed today, at an anniversary commemoration of his coronation. It was the first time in three anniversaries of the event, March 12, 1939, that the pontiff was well enough to attend the ceremony. It was also the first time since he fell gravely ill last December that the head of the Roman Catholic Church wore the heavy, beehive-shaped triregnum, emblem of his high office. More than 5,000 pilgrims, tourists and Romans, packed the "ducal" and "royal" antechambers to the Vatican's famous Sistine Chapel. They cheered the 79-year-old Pontiff. The pontiff leaned down from his portable throne and repeatedly blessed the throng. In the Sistine Chapel, 18 cardinals, many archbishops, bishops, other prelates and members of the diplomatic corps to the Vatican, representing more than 40 nations. lited to honor him. ATOMIC (Continued from Page 1) detonation. They were primarily Navy planes of fighter and dive bomber types. All aircraft performed their missions safely. Personnel from Camp • Desert Rock were stationed at nine different points in an observation exercise for the field artillery. The AEG said the atomic clouri rose to a height of 36,000 feet and was blowing in a southeasterly direction. AEC officials announced THE RECEPTION'S FINE-A large television set is among the many gifts left by motorists at this traffic policeman's post in Rome, Italy. It's traditional for drivers to give traffic policemen gifts on the Feast of Epiphany. Sen. McClellan Will Reveal 'Whole Story' in Peress Case WASHINGTON IJI Sen. McClellan (D-Ark) said today he intends to ''lay out in the open the whole story" of Maj. Irving Peress. Peress is the former Army dentist who got a promotion and honorable discharge after refusing to tell whether he was a Communist. that a heavy shock was felt at the j He invoked the Fifth Amendment control point, the master center of agam st self incrimination when he all test operations located at the - .-•..- . edge of Yucca Flat. The shock of today's blast was not generally felt in Las Vegas, although there were reports that some doors rattled. During larger detonations the pressure wave is distinctly felt in Las Vegas in about seven minutes after the blast. A half hour a tier the detonation was questioned by the Senate Investigations Subcommittee under Sen. McCarthy (R-Wis). McClellan, who succeeded McCarthy as chairman of the subcommittee, will preside at a new study of the case, scheduled to start Tuesday. The Peress case already has been a subject of repeated congressional inquiries and explanations from the ,he rising cloud had sheared Into j Pentagon, none of -hich, McClellan various layers of zig-zag pattern i contends, ever produced the full and resembled a snake drifting in an eastward direction over Nevada skies. story. Bitter criticism by McCarthy of the Army's handling of the case Photographers stationed at An- helped bring on the McCarthy ;ePs Peak, about 45 miles from .he test, said they heard and felt Army hearings last year. McClellan said there is "nothing for Money MERTZON. Tex. (>?) — While •oujity commissioners were meet- ng to talk about a road bond issue, . curious chapparal bird ran around iiitside a window. Chapparal's are better known in hese West Texas parts as Road- u nners. .he shock blast. They said they j to indicate now" that McCarthy sew part of the fireball but that j will be added to the list of 22 wit- tiountnins apparently obscured, nesses he plans to call in the new some of it. These observers rie- inquiry. But, he said, "If Sen. McCarthy has something to testify to, he will be privileged to do so." There was no immediate word from McCarthy as to his own plans in connection wilt- the probe. He scribed the blast as in the "medium" or "baby" A-bomb category. LITTLE LIZ When a fellow blows his own horn it's surprising how fast people can get out of his woy. « N[A « Abraham's Tourist Court MODERN ROOMS—VENTILATED HEAT REASONABLE RATES $1.50 Single 3.00 Single with bath 4.00 Double with bath South Highway 61 Plenty of parking room Beer By The Case Budweiser $4.40 Griesedieck 3.90 Falstaff 3.90 ABRAHAM'S CAFE ASH and BROADWAY Can your house BURN OUT? Yes it ton. fire often gets a long heacklart before H 15 discovered. Insurance ... and enough of it ... is the only answer ' K> yovi finofxiol protection. NOBLE GILL AGENCY GLENCOE' BLDG. 3-6868 HOT DOGS Delicious!}' Seasoned Our Chili and Chopped Onions Take Home Sack C $100 rith KREAM KASTLE DRIVE MERCHANTS LUNCH-75c SOUTHERN STYLE CRACKLIN' BREAD SERVED DAILY "Mom" Rice's Home Made Pics Italian Spaghetti — Chicken & Dumplings DRIVE IN RAZORBACK is the senior Republican membei of the subcommittee. McClellan said the main objective is to show what happened to Peress from the time he filled out his first Army form after being notified in May 1952 that he would be inducted, until the time of his discharge, Feb. 2, 1954." "We intend to lay out in the open the whole story, all pertinent facts, he said. FARMERS ATTENTION SAVE UP TO SI PER BUSHEL ON WHOLESALE SOYBEAN PLANT SEED Certified Dorman and Opdcn, cleaned and sacked. New 2-bushel bugs. Qualified lab test for germination and purity. Call . . WALLACE BROTHERS Gideon, Mo. Phone 8-3313 New Location of iuE SUPPLY S. FIFTH - PH. 3-8802 ROYAL TYPEWRITER SALES and SERVICE FUEL Oil B3SS33 1 Sell That Stuff Phone 2-2089 Visit Conny's Conoco Service, Ash & Division NEW IDEA make fertilizer dollars go twice as far FERTILIZER SPREADERS Talented 1 cam agitator discs assure even distribution, eliminate port clogsini;. New Idea will spread ANY fertilizer, in ANY. condition, In ANY (10 to 5,000 Ibs. per acre) amount . . . uniformly and accurately . . . without clogging or money liack. NEW IDEA FARM EQUIPMENT COMPANY A vco Distributing Corporation BYRUM IMPLEMENT CO. 118 E. Main St. Phone 3-1404 YES! WE TAILOR-MAKE SEAT COVERS GILBERT'S AUTO UPHOLSTERY Hiway 61 N. Ph. 3-6742 fuller Found Guilty, Gets Life Sentence BIRMINGHAM. Ala. (/P) — With ex-Chief Deputy Sheriff Albert Puller sentenced to life in prison, the state moved swiftly today to bring another defendant to trial for the murder of vice foe A. L. Patterson. Prosecutor Cecil Deason said Arch Perrell, who was prosecuting attorney at Phenix city during the days when Puller was chief deputy in the vice-infested town, probably will be tried in about two weeks. Puller was held in the Jefferson County Jail atop the courthouse where he was tried. Chief Defense Atty. Roderick Beddow said he will appeal to the State Supreme Court and at the same time file a motion for a new trial. The 35-year-old 200-pound Puller took the life imprisonment verdict yesterday calmly but his attorney said the veteran law officer was "dumb-founded" at the outcome of the 25-day trial. Puller's pretty blonde wife, Avon was "heartbroken and in a state of shock," Beddow said. The Pullers have no children. TOOK OATH PRIVATELY Theoaore Kooseven took the oath of office of the President of the United States at the home of a friend in Buffalo. N. Y., after President McKinley's death. Mission Renews Appeal for Aid Negro Welfare Mission of Blytheville today renewed its appeal for aid In helping Negro children and the aged. Contributions may be made to Rev. J. W. Thompson or CharlSB Payne by telephoning 3,6386 or fct 1356 South Seventh Street. Generals Boosted LONDON Wl — Apparently In DM with Its new policy of accenting the military, the Soviet government has boosted 10 Russian generals to the rank of marshal. KooLVER? ALUMINUM AWNINGS CALL NOW Ph. 3-4293 FOR FREE ESTIMATE SMITH AWNING CO. 113 S. First FOR SALE Breeders Registered COTTON SEED Delfos Bobshaw 1-A HENDERSON SEED CO. Highway 61 S., Blytheville PO 2-2860 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 Phone 3-8951 ATTENTION LADIES l-39c I'oi Flower for Ic With Each S.'i.OO or More Purchase! EGGS. I.aree Fresh 2 DOT. 8!)c CANOVA BLACK I'EPI'HR, Pure Omiml 4 m. can ->9c •i 8-iw. FLAVORING, 1 I.crmm or 1 Vanilla. RCR. We ca 2.11; TURNIPS ,fc TOPS or COLLAP.I) GREENS lOc SWEET POTATOES.' Hu. SI.99 5 III. Has We. POTATOES, No. 1 10 ll>. Bat' 3Sc PURE SORGHUM MOLASSES Qt. One >•, Gal. SI.19 GLADIOLA CAN BISCUITS 3 Cans 29c Save 75% on Your Garden FRESH CABBAGE PLANTS -I Brlis. Me FRESH ONION PLANTS 4 Bohs. -I9f SEED POTATOES ; 100 III. Ba s S2.79 Complete Slock of Bulk Garden Seed & Plants— Also Lawn Seed & Fertilizer! BLYTHEVILLE CURB MKT. Open til! 10 p. m. Every Night RUSTIC INN 1$ Now Offering CURB SERVICE Drive Out For A Snack Or Full Meal '/2 doz. Fried Jumbo Fanlail Shrimp $1.00 1/2 doz. Extra Select Fried Oysters $1.00 Chicken 'N the Basket $1.25 HOT DOGS 20c ea.-6 for $1.00 Sfanonnd with our delicious homcrrmrin chlH. Real Pit Har-R-Q Pi K 35c Double Thick Mailed Milk 30c Walnut & Division Ph. 2-2202

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