The Courier News from Blytheville, Arkansas on March 14, 1955 · Page 5
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The Courier News from Blytheville, Arkansas · Page 5

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Blytheville, Arkansas
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Monday, March 14, 1955
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MONDAY, MARCH U, 1955 BLYTHEVILLE (ARK.) COURIER NEWS PAGE FIVE Hoover Group Urges Shakeup in U S Loan Agencies WASHINGTON (AP) — The Hoover Commission says it believes private enterprise should be allowed to take over many of the government's extensive lending and loan guarantee-insurance activities, subject to continued federal control. Tile commission headed by former President Hoover stressed the idea of combined private-government operation last night in recommend in a "broiid reorganization" of (he 104 federal lending, miming and guaranteeing agencies. The urged in a report to Congress Unit -some of tlic'so agencies be abolished. It called for a boost in charges lo make the remaining units sell-supporting. Such a ruorgitiiiziiliun, the commission estimated, would mean the Treasury could recapture about G'.j billion dollars in capital funds. Furthermore, it said the step would mean an annual saving to the government of about 200 million dollars. S244 Billiim According to the report, federal loans, guarantees and insurance now total 1M4 billion dollars. Among: the agencies whose i unc- tions the commission tagged for transfer to private entorpn.se were the Federal Housing Administration and the Rural Electrification Administration. The FHA insures loans for home btuers. The REA lends money to cooperatives for Steele Rebekah Is Host Lodge STEELE — Visiting members from Blythcville and Caruthcrs- ville loc^e H i tended the meeting of Steeie Rebekah Lodge Thursday evening. Among the visitors were Mrs. Katie Tfiroy, District Deputy President, of Caruthersv'ille. The degree was conferred on four candidates of Steele and one from Caruthersville. Refreshments of coffee and cake were served lollowmg the meeting to 67 mmbcrs and gucstfi. ONE DAY ONLY — Patricia Glad of Salt Luke City, Utah, enjoys a hamburger sold at the 1913 price—10 cents. Hundreds of persons flocked to the restaurant, "for old times' sake." construction of facilities to provide electric and telephone .service to rural areas. One recommendation almost certain to arouse controversy called for an end of '-jo^rnment price support* loans to farmers. The com mission suggested instead that the government enter ir' crop purchase contracts at support levels. The fanner then could choose whether to sell his crop to the government or to private parties. STOCK (Continued from Page 1) nients by themselves may not be able to halt excessive speculation. He said, "They are not and cannot be cure-alls for stock market excesses or abuses." Requirements Increased , The board increased margin re- 'quirements from 6 lo 60 per cent last January. That means an investor now can finance only 40 per cent of his stock purchases on credit. The Fulbright committee has received conflicting views on whether credit buying should be halted by raising the margin requirements to 100 per cent. The FRB chairman told the committee that brokers',loans to their Customers have risen to S2,- 600,000,000 — the highest level since the keeping of such figures began in 1931. All told, Martin said, loans on .securities total some S7,200,000,000 today — an increase of around two billion dollars since the end of 1940. But Commodity And Stock Markets— New York Cotton (12:31 guntaUim) Miir 3341 3341 3308 3308 Mny 3353 3355 3337 3337 July 3374 3378 3364 3367 Oft 3402 340S 3393 3395 Dec 3415 3417 3406 3408 New Orleans Cotton Mar 3310 3316 3318 3316 May 3346 3346 3333 3334 July 3361 3372 3360 3362 Oct 3402 3404 3393 3393 Deo 3411 3416 3405 3408 Chicago Corn Mar 143-H 143'., 142', 142 a , Mny 146% 146-^ 144^ 145'/ 8 he said this Increase must be viewed the light of "the Chicago Soybeans Mar .... 268',., 268 J ., 265' L , 266' a May 262'.i 262 3 ,j 259'< 260 1 -, July .... 257',:, 257',;, 254>4 254'i Sept .... 247 247 ZM'/, 244 3 i Chicago Wheat Mar .... 221 221 '„ 218 218 5 i May . .. 216',., 216' 2 213? 4 214^6 New York Stocks A T and T 176 1-2 Aincr Tobacco 64 3-4 Anacconda Copper 49 3-8 Beth Steel 119 3-4 Chrysler 67 3-81 Coca-Cola 115 3-4 [ Gen Electric 483-4! Oen Motors 90 3-41 Montgomery Ward 76 ! N Y Central 32 7-8 j Int Harvester 36 Republic Steel 813-8 Radio 39 3-4 Socony Vacuum 51 1-2 Stud-Pak 12 5-3 Standard of N J 109 5-3 Texas Corp 90 Sears 90 U S Steel 75 TURKEY Population ATM So. Mi. 22,500,000 296,000 IftAO. 1,000,000 171,600 PAKISTAN 33,900,000 72,234 SYRIA Population Af« Sq. Mi 3,600,000 ' 72,234 TRANS-JORDAN 1,500,000 37,500 MIXED-DP MIDDLE EAST—Arab nations of the Middle Eafl. unlil recently more or less solidly allied in the Arab League, are no'-v making faces at each other E^ypl, leader of the League, didn't like it too much when Turkey and Pakistan signed a mutual defense pact (1). But Egypt couldn't do much about it, because neither Turkey nor Pakistan is an Arab nation. The Western Allies liked it fine Turkey is in NATO and the pact furnished a missing link in the chain of Western Obituary Willie Wise Rites Today Services for Willie Lee Wise, 59. of Luxora, who died Saturday at Kennedy Veterans Hospital in Memphis, were to UP conducted at 2 p.m. today at Swift Funeral Home Chapel in Osceola. Burial was to be in Calhoun Cemetery. Mr. Wise, who entered the hospital last month, was a mechanic. Survivors include his wife, Mrs. Mabel Wise; two daughters, Miss Billye Ann Wise and Miss Goldie Frances Wise; two sons, William! Lee Wise and, Herbert Albert Wioe; j and a sister. Miss Nora Wise, all \ of Luxora. > defenses against Russian aggression. Then Turkey turned around and made a similar p; with Iraq. Egypi really blasted of! then, because Iraq is Arabian. Egypt has long been ; Osceolon Has j Part in Award i Miss Ruth Massey of Osceola.» state Regent of the Daughters of j the American Revolution, will take j part in 1 a ceremony, March 18. in I which Mrs. Pairlax LoughborouRh ! will be presented with the DAR's' Merit of Award. j This award is presented by ihe j Daughters of the American Revolution to express appreciation and , ! gratitude of the donors "to a man' • or woman in the community who! ! has contributed something to the' i American Way of Life and in pre- • -serving the best in ihe history and background of our state." Gov. Faubus will present the, nward in the Territorial Capita! Building in Lit lie Rock. ! Red Gunman Shoots Way Into Embassy MOSCOW ifft—A husky gunman shot his way into the British Embassy last night, seriously wounding a Russian police guard who tried to stop him. The fur halted Russian Intrud- L-i unjj overpowered and disarmed by two unarmed British Embassy attaches after he had forced his way upstairs to the living quarters of Ambassador Sir William and Lady Bayter. Sir William and Lady Hayt-er were in the country skiing at the time. They returned just as the aunman v.as being handed over to Russian police. No motivation for the armed in- ••asion of the embassy could be learned. . This dispatch was telephoned Irom Moscow to London. The call v.as broken at this point by an operator who said in Russian: "There will be no more on this call for the present/' ASIA whole picture of credit outstanding in the economy." The total increase in credit since 194B, he said, j is nearly 200 billion dollars — so that stock loans make up only about 1 per cent of the eight-year increase. Excessive Credit Martin stressed the the Federal Reserve Board has no responsibility toward determining stock prices. He said it iasisls on more cash only to check "excessive use of credit.." And that, he said, "is largely a question of judgment." He said elimination of credit buying — by raising rargin requirements to 100 per cent — wouldn't necessarily check rising prices. "Even il all credit were eliminated from the stock market," he said, "cash purchases could bid up ihe prices of stocks to high levels. Regulation can restrain use of credit for stock market purposes, but it cannot serve as a guarantee against all speculative excesses." Livestock ; NATIONAL STOCKYARDS, 111.: *&— IUSD.M — HOHS 13,000; fairly ( active. 15 to most 25 higher: choice i 180-220 Ib 15.75-16.25: "choice No • 1 and 2 under 215 Ib 16.35: choice i No. J and 2 16.50; 220-240 Ib 15.50-j 16.00: 24Q-L'10 Ib 15.00-50: 280-375! Ib. 14.25-15.00: 150-170 Ib 15.25-75:! : few 16.00; .shows 450 Ib down 14.00- \ !50; heavier shows 12.75-13.50; boars 1 ! 9.00-11.00. '. Cattle 6.700, calves 800; slow on! .steers and butcher yearliiiKs: some j initial sales about steady 21.0023.50: lew yood and choice replacement steers steady 19.50-21.00; cows opening slow, early salc.s about steady on utility and com-1 mercial 11.00-14.00: little done on' canner.s and cutters; bulls -steady; utility and commercial 13.00-14.50; canners and cutters 9.50-12.50; vealcrs and calves steady; good and choice vealcrs 18.00-25.00. odd head prime 27.00; good and choice 14.00-18.00. (Continued from Page l.i contain many of its must valuable military bases." the report said. adding: "If ' he.se resources should full under Soviet influ" | ice, the road to the Communist end ^oal of world domination Would be made relatively -smooth." In a breakdown of FOA's operations for the last half of 1954 the report Allowed 1. Military assistance — Deliveries of 700 million dollars worth of weapons and equipment to Europe. 2. Defense support — agreements with 13 countries , around ihe world t o supplement their economies in .support M' their defense buildups. The countries tire Korea, Formosa, Philippines, Thailand. Viet Nam. Cambodia, Laos. Greece, Turkey, Pakistan. Italy Spain and Yugoslavia. In addition surplus farm goods were sold to West Germany to help rehabilitation efforts in West Berlin. Assistance Cited 3. Development assistance — Authorization of development programs in Iran. Jordan, Lebanon, Egypt, and India — and similar efiorts in the works for Guatemala and Bolivia. 4. Technical r jperalion — programs in being with 43 countries and 20 territories, with 1,750 American technicians in the field. In carrying out a congressional requirement that not less than 350 million dollars of the fiscal 1955 program be spent for sale of U.S. farm surpluses the agency reported sales authorized up to 103 million dollars by last Dec. 31. It said I it hopes to hit the 350 million dollar j tarpet before the deadline next i June 30. ! WAGNER'S HCMOR j "Die Meister.singer" holds a ; unique place among Wagner's! works because it is the only opera ; he wrote ihtu is based on a humor-; ou.s theme and on actual history ' Lodge Says U.S. Still Hopeful of Red Cooperation I UNITED NATIONS. N. Y. iJ>. -j Henry Cabot Lodge Jr. jays the! United States still hopes the So-! viets will cooperate in the disarm-; ament negotiations now under way! "but it is a hard road." i Lodge, chief U. S. delegate to the j United Nations, returned last night: from the five-power arms talks go- I ing on in London .since Feb. 25. dis j deputy James J. Wadsworth remain-1 ed. | Lodge's brief statement, did not | saw whether the talks are making : any progress. The Soviet Union at I the U, N. Assembly last fall had' joined the West in sponsoring the, proposal that the negotiations be, held. ' Nixon Reports On Trip Tonight LOS ANGELES — Vice President Richard Nixon reports to the nation tonight on his recent good will \ tour of Latin America. The talk before the Los Angela , World Affairs Council will be tele- i cast nationaUy over NBC from! 11:30 p.m. to midnight, EST. | Nixon is expected to present his conclusions on hd'A the United. States can foster good will, eco-1 nomic independence and higher ; living standards south of the border. "PILLKD TO EIKAVEN" The lone lock of hair on the back of a Mohammedan's head is, left there when he shaves his pate | as a handle by which he can be • pulled to heaven. WE CAN SOLVE YOUr. IRRIGATION PROBLEMS T. S. &-Berkeley Turbine Pumps "Wells and irrigation — from start to finish" McKinnon Irrigation Co. .Manila. Ark. Ph. 112 or 190 Dr. Einstein Is 76 Today PRINCETON, N. J. ijPi—Dr. Al- berl Einstein observes his 76th bivthdny Uxlay without fuss or festivities—as usual. The filmed physicist, who believes that "birthdays are for children," planned to stay at home rather than so to his office at the Institute for Advanced Study. La-st year Einstein's colleagues at the institute presented him \vith a lonp-playing phonograph for his 75! h birthday. Local Woman's Brother Dies J. M. Harrison, of ByhaUa'. Miss., and brother of Mrs. C. R. Collins of Blytheville. died suddenly at his home Saturday nteht after suffering a henrt attack. Services were yesterday in Holly Springs. Miss. ilU THEATRE On \V. Main St. In Blylhcville = Phone 3-.1B21 Weekdays Show Slarls 7:00 p. m.—Sal. & Sun. 1:00 p. m. LAST TIMES TONIGHT Double Feature Fountain tttti if t-Itttl, Hiit-fifth!) iHtilFHJNtC —AND— CLIFTON WEBB DOROTHY McGUIRE , JEAN PETERS LOUIS JOURDAN MAGGIE McNAMARA *' REVENGE...ioi.t y out \ JOHN PAYNE : : ,.r..i.«r.i A^. : UZABETH SCOTT j ALSO CARTOON TUESDAY & WEDNESDAY Double Feature BOOLE'S Bl/MP SHIRLEY BOOTH ROBERT RYAN p HAL WALLIS'rxMm ALSO CARTOON One Weekend Accident Only one accident occurred over (.he weekend despite rainy weather and slippery road conditions. The lone accident happened at llth and Chicka.sawba Streets about 11:00 Saturday nieht. Vehicles driven by Charles Wun- derlicli of Memphis and L. L. Sie- feri of StutiLtart collided with minor damage done to both cars. Arthritis-Rheumatism Vital Facts Explained FREE DESCRIPTIVE BOOK As a public service to all readers of this paper, a new 44-pace highly illustrated booh on Arthritis and Rheumatism will be mailed ABSOLUTELY FREE to all who write for it. This FREE BOOK fully explains the causes, ill-effects and danger in neglect of these painful and crippling conditions. It also describes a ' successfully p rove n drugless method of treatment which has been applied in many thousands of cases. This book is yours WITHOUT COST or obligation, It may be the means of saving years of untold misery. Don't delay. Send for your FREE BOOK today. Address The Ball Clinic. Dcpt. 4204, Excelsior Springs. Mo. GEM THEATRE "Osceola's Finest" F I 1 I I I I B 9 I Now Your Service Bill Comes To You On a New, Handier Form i i i i i i i i — NOW SHOWING MARCH 14& 15 I MONDAY & TUESDAY | I I I I I I I I I The adventure written a hundred years before its time becomes a motion picture 10 be remembered forever! No more envelope to fuss with, because from now on your service bill will be coming lo you on I his new, handier form. It's easy lo read. It's easy lo handle. \Vhat's more, bolh electric and natural gas service will appear on the same bill—already totaled for your convenience. New electronic equipment makes this possible. Kach bill is checked and double-checked before it's sen! out, practically eliminating the possibility of error. Faster billing results from thta new, time-snving system, which cuts our postage and mailing costs considerably—another step in our continuous pro- . . . on a postcard like this gram nf reducing non-essential expenditures in nrder to keep the cost of our service as low as possible. For many of oyr customers this means that your statement for service rendered will reach you sooner after your meter is read, thereby making the "due date" earlier. We very much regret the necessity of this inconvenience, and this first month will allow an extra seven days before the grora bill becomes payable. We hope you like this new hill form, and we hop* you'll let us know if there are any question* regarding it. Ark-Mo Power Co.

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