The Courier News from ,  on March 23, 1955 · Page 12
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The Courier News from , · Page 12

Issue Date:
Wednesday, March 23, 1955
Page 12
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BLTTHBYTUUII (ARK.)' COURIER NEWS WEDNESDAY, MARCH tt, 1958 inflationary Policies Causing Stock Boom, Baruch Tells Probers By ED CREAGH WASHINGTON (AP) — Bernard M. Baruch said today the main causes of the stock price boom are a vast expansion Of industry and "the cumulative effects of the inflationary policies which have been followed over the past decade and i half." "It any economic danger threat ens today, it will be found not ir the stock market itself but in th effects of this inflationary heri tage," the 84-year-old retired fi nancier and adviser U> presidents told the Senate Banking Commit :e. Baruch, the final witness in three tee. Red Cross Drive Nears Halfway Mark The Red Cross Drive neared th( halfway mark in its quoia for 195i today as Blytheville business dis trict and residents! contribution: brought the total for the year to $6,976.12. This leaves the drive about $V 000 short of its goal of $15.000. Business district contributions: $28 — Southwestern Bell Telephone Co.; $25—Fred S. Saliba, O. E. Keck, Meyer's Bakery, Bancroft Terry; $20—A. B. Reese; $10 — E. B. Thomas, T. P. Dean L. I. Bice, P. L. Regan Gin. M. L Hughes & Son, Fred Warren, Dr James Guard, J. A. Bryant, Ooff Hotel, Leonard T. Oldham; $9 — Charles R. Newcomb. $5 — D. E. Wimberly, James Nebhut, A. H. Taylor, Mrs. E. B. Thomas, P. E. Atkinson, Jack Cuadra, E. R. Mason, George D. Pollack, J. E. Carter, Accessory Shop Roy & Roy, Rev. H. T. Kidd, R. L. Banister; $3 — G. O. Ladd, Charles C. Czeschin, Oral Edwards, Ernest McKenzie, Nora Simpson, A. H. Boyd. $2.50 — Clara Ruble, Mrs. William F. McCaughey; J2 —. Blytheville Produce Co., Cletus Raper, J. L. Flanagan, C. E. Graves, Jack King, Elton Foster, B. A. Cary, Ruby Denton, C. E. Watson, Catherine Trotter, Lee A. Crow, Newton H. Whitls; $1.50—Bob Jamison; $1 — Ed Spaeth, Josephine Hall, Shirley Wade, Billy Hyde, William T. Spence, Charles Crews. Laura Burnett, Mrs. M. F. Dover, George Farrish, Harvey Davis, James Mizell, P. J. Potts, B. Baker, K. Campbell, J. Jost, A. Attaway, F. Moody, E. H. Ford, L. Lunsford, Claude Kolwyck. Robert Cox, Don Kerbough, Bill Phillips, Pat Bynum, B. D. Grimes, Betty Johnson, Bill Stewart, Ernest Shelton, Charles Tankersley, Cherry Sue Halstead, G. H. Robson, Geneva Porter, Juanita Biggs, Harold J. Shaw, Wilbur Wahl, Odell Moore, Norman Wright, Wayne Payne, Bill Beard, Frank Ashby, Ronald B, stlllwell, Jimmy Williams, Hubert ' Paulsgrove, Rutlie S. Holder; Residential contributions: $25—Dr. and Mrs. R. L. Johnson; $10 — Chapter D, PEO. Drs. Nies & Nies. $5 — Mrs. O. Shonyo, Mrs. H. C. Knappenberger, Mrs. E. B. Gee, Sr., Mrs. Lynn Hughes, Mrs. Alex Hill, Mrs. H. C. Bush; $4 — Mrs. C. M. Gray, Mrs. Ray Johnston; $2,50 — Mrs. M. 0. Usrey; S2 — Mrs. A. O. Hallman, Mrs. Hazel Killian, Mrs. Marion Koehler, Mr. and Mrs. Ed Parks; $1 — Mrs. Erby Ledbetter, Mrs. J. L. Nabers, Mrs. R. P. Kirshner, Mrs. Phillip Applebaum, Mrs. Marcus Evrard, Mrs. Fred Saliba, Mrs. W. S. Johnston, Mrs. C. L. McWaters. Mrs. W. W. Hawkins, Mrs. K. Thomas. Mrs. M. F. Day, Mrs. Cecil Shane, Mrs. Vernon Strickland, Mrs. Haggard Crews. Mrs. Ed Johnson, Mrs. Jane Miller, Mrs. Kay Whisenhunt, Mrs. J. C. Ellis, Jr., Mrs. C. L. Moore, Miss Jan Nichol. Miss Bess Hall, Mrs. V. E. Calvery, Mrs. Edwin Robinson, Mrs. Mel Brooks, Mrs. C. L. McWaters, Sr., J. N. Moody. So Easy 1t> USE! Yof can have a "MW" room in a day with * WQihoblt. • No thinning—drlti In on* hour. • Uieiouipottili,hlgh-faihlM dcop lon»i, * Eaty IB apply—ovir painttd walk, wollpaptr or plotter. ><<*• SHahllr Higher) SHERWIN-WILLIAMS COMPANY 411 W. Main Th. 3-8767 —W« Dtliver— Dtliv weeks of public hearings on the state of the market, came out strongly against any tax cuts now Just as strongly he urged a biggei defense buildup. Stressing a need for a "sounc government policy covering all the interrelated problems of economics, finance and national defense,' Baruch made three general recommendations in his prepared testimony; Determine Requirements "1. Determine just what our national security requires, both what we and allies must do—and then do it. "Forego all tax reductions until our defenses are made secure, and the budget is balanced. Nothing could inspire more confidence in the soundness of our economy than some reduction in the national debt (now over 276 billion dollars). "3. Discipline ourselves to whatever is required to win the cold war and real peace." Baruch aimed some plainly implied criticisms at the Republicans now in power as well as at Democratic administrations of the past. The tall, white-haired financier, who made millions in Wall Street, said the stock market is largely a mirror of the whole economy and the economy now Is dominated by the cold war. "If our general economic and security policies are sound," he said, "the stock market will adjust to them and we will not need to worry about a possible collapse of the market. If we do not pursue our national security and our national credit, then nothing can have lasting value. Evidence of Sound Economy Much of our weakness in foreign policy has come about because some people believed that the economy could not stand what is necessary for defense. With this view I am in total disagreement." Commodity And Stock Markets- N»w York Cotton U2:3« Quotations) May 3370 3378 3367 3372 July 3397 3400 3392 3397 Dot 3403 3405 3399 3400 Dec 3412 3417 3407 3412 New Orleans Cotton May 3368 3371 3366 3368 July 3396 3398 3391 3394 Oct 3403 3405 3390 3402 Dec 3414 3415 3407 3412 Chicago Corn Mar .... Ho^i 146'/ 8 145'4 146 May .... 147% 148!i 147| 4 148'/ 8 Ckicag* Soybeans Mar 254 254 2525!, 253 3 1 May 247 3 j 248 : !'a 246'> 248'A July .... 240»4 241':, 239':, 241 Sept .... 236^ 237!'j 235! 4 23T /4 Chicago Wheat Mar .... 212 214> 2 211 211'i May ..... 1HT/2 198 JS 196% 198', 4 New York Stocks A T and T Amer Tobacco Anaconda Copper Beth Steel Chrysler Coca-Cola en Electric ... 179 1-4 ... 65 1-2 ... 56 5-8 ... 130 ... fi9 3-8 ... 115 1-4 ... 51 1-2 Gen Motors 94 7-8 Montgomery Ward N Y Central ... [nt Harvester .. Republic Steel .. Radio Socony Vacuum Stud-Pak Standard of N J Texas Corp .... Sears U S Steel ...'.. 18 3-8 35 5-8 36 7-8 83 3-4 42 3-8 52 1-4 12 5-8 112 90 3-8 80 1-2 79 1-2 Livestock NATIONAL STOCKYARDS, 111. «— (USDA)— Hogs 6,500; active; narrows and gilts mostly 50, spots 75.higher than Tuesday's average; sows 25-50 higher; choice 180-220 Ib 17.50-18.00; 220-240 Ib 17.25-75; 240-2TO Ib 16.75-17.25: 150-170 Ib 17.25-50: sows 450 Ib down 5.00-50; heavier sows 13.75-14.75; boars Cooler Lions Plan Minstrel Fifth Annual Event Promiset To Be Big One By H, L. YEAGF.R COOTER — Cooter's Lions Club will present its fifth annual minstrel show at the High School Audi torium Friday evening. Their shows, which have gainec more than local renown in pa years, will surpass their former home talent presentations. The script, home talent also, is written by Joe Burton, ginner and plantei of the community. Jack Rushing high school principal will be master of ceremonies. * Thirty-two members will be in the cast with costumes furnished by a costume company. Ticket sales were over the 400 mark Thursday, The club is a particiapnt in the Lions international project of sight aid for school children. They have placed testing machines in both Cooter and Holland schools and send those who need glasses and who are unable to pay for same to Memphis for fitting according to a spokesman for the club. Their omer project is the city playground and athletic park. Radioactive Rain HIROSHIMA, Japan (&)— Radioactive rain fell here Sunday and Monday, a scientist said today. The March 13 U.S. atomic test in Nevada was responsible, said Dr. Mut- suaki Shinagwa, of Hiroshima Uni- •ersity. 9.50-12.00. Cattle 2,700; calves 500; strong on steers and butcher yearlings; ;ood and choice steers 22.50-25.75; mixed yearlings to 24.00; cows steady; utility and commercial 12.50-15.00; canners and cutters 10.00-12.50; bulls steady; utility and commercial 13.00-14.50; can- lers and cutters 9.00-12.50; vealers and calves 1.00 higher; prime vealers 32.00 ; good and choice 24.00-30.00; commercial and good 18.00-24.00. New Oversize Picture with 212% greater picture contrast New Ovorslza "AH-Claor" 21-lnth Picture Tube! Not small-size 21 — not regular 21 — but RCA Victor's new Oversize — today's biggest, finest picture in 21-inch TVI Just one of the 5 luxury features in the SEE THE "FEATURE 5" SERIES, Look for this Blue and Gold emblem—it marks the new RCA Victor "Feature 5" Series— 5 monuy-sivmR table modi-Is in i beautiful finishes—all with 5 luxury features. You Ret all of RCA Victor's quality TV features filus 5 extras (usually found in hirji pnud TV)— at mi rv/rfl cosf.' Come in today, see '.he "Feature 5" Series—TV's top values for '55! FOR UHF— New High-Speed UHF Tuner ii 6 timei foiter lhan previous continuous tuners! Exclusive "Clutch Action" for inllonl, accurate switch to and from VHP. Geti all stations in your area, UHF and VHP. (Optional, at extra coil.l TheARlEN. Sleek ebony finiih. Model 215503.... $229.95 The KENT. Bieh mar. )on fini.h. < Model 21S504.... $239.95 The ILLI5. Stunning lawny aold finiih. Model 2IS505 S239.95 The HUPEST. Mahogany grained finiih. Model 21S506 'S2-I3.!)5 The VAUANT. timed oolt groined finiih. Model 2IS507 "S2M.II5 ftullt-ln phono-|o<k lei. you plug in o r«ord chansefl **« all S o? th« "Feature J" S«ri«« af 3-point "PonomHIivd" ton* control. Ait obovf tfw »*tlutlv» RCA Victor Focfwy-fervrt* Contract. ELECTRONIC LAB Wt Strvic* Everything We Sell 111 W. Walnut St. Phone 3-3531. Obituary Mrs. Southern Rites Are Today STEELE — Funeral services will be held this afternoon from the Church of Christ for Mrs. Bob Southern, of Maiden, who died in a Poplar Bluff hospital Monday. Mrs. Southern was before her marriage Mrs. Opal Washburn, Services will be conducted by the Rev. Thurmond, former pastor of Steele, but now of Dexter. German Funeral Home is in charge of arrangements and burial will be in Mt. Zion Cemetery. Mrs. Southern had been in poor health for several years. The family formerly resided in the Steele community. She is survived by her husband, also her father, Horace Washburn, of Maiden. Wilson Church Work Under Way WILSON — Work will begin this week on refinishing the interior of several of the first floor rooms and the sanctuary of the Wilson Methodist Church. This will include varnishing: of the interior woodwork, sanding and refinishing the floors and the lay- ng of a new carpet in the sanctuary. This project is to be completed y Easter. The outside of both church and parsonage have just been repainted. IKE (Continued from Page W conference with Russia. Eisenhower's comment on that proposal was that after ratification of the Paris agreements it will be time to start exploratory talks with Russia, but not at the chiefs-ol state level at the start. The President said there was no great difference between his position nnd George's views. George has called, for ratification of the Paris agreements, which provide for rearming Germany, before a big power conference, Eisenhower also dc It with these other matters: * » * CEASE-FIRE—In response to a question, the President said he knows of no particular new effort —either by this government directly or through the British—to negotiate a cease-fire in the Formosa Strait. The President added, however, ihat the British do have diplomatic relations with the Chinese Communist regime. The British, he said, always represent the U.S. point of view in dealing' with the Pciping government. He added that any worthwhile proposals always will receive sympathetic consideration. FOREIGN TRADK — Eisenhower said today he considers his pro- i gram to encourage foreign trade by easing tariffs to be one of the; most critica I issues before the ! American people today. He made' that remark when asKed whctliei he intends to fight -for that program which has been approved by the House but still faces rough going in the Sennte. The President said he did not believe atomic weapons would be used in any small war, he was talking about a police action. The matter came up when n newsman asked whether there was any conflict between that statement and Eisenhower's assertion last week that he sees no reason why atomic weapons would not be used, just as bullets ivlien directed exclusively at military targets. The President replied that in January ho was talking about a police action and not war, Prnier President Truman always referred to 'the Korean fighting ns a police action rather than a wnr. QUEMOY — The President said he couldn't answer in advance whether atomic weapons might be used by the United States to defend the Chinese Nationalist islands of Qucmoy and Matsu if the Chinese Reds try to conquer Formosa. The only unchanging thing in war, the President said, is human nature. BRICKER AMENDMENT — He replied with a blunt No when asked whether he has changed his mind about the proposal by Sen. Bricker (R-Ohio) for a constitutional amendment which would limit treaty-making powers. Elsenhower opposed the amendment last year and it was killed by the Senate. POSTAL PAY—Questioned about his recommendation that any pay increase for postal workers be held to a maximum of 1\^ per cent. the President repeated that any hike bevond that would cause him BIG FOUR (Continued from Pag« 1) they said was the need of preliminary diplomatic negotiations. Both said they felt the administration to not doing enough groundwork In that field. Sen. Cnpehart (E-Ind) wa« ont of (he few. Republicans to endorse George's proposal. "I don't know why a conference shouldn't be held," he said. "It seems to me the Big Four could sit down on neutral territory and talk these problems out. I'm sure President Eisenhower could well uphold the American viewpoint and he would not come out on the short end." Egypt to Protest Report on Gaza Egypt prepared a strong protest today against the Gaza report made last week by the U.N. truce chief. An Egyptian spokesman said Ambassador Omar Loutfi would voice his government's complaint at a meeting of the 11-nation Security Council this afternoon. Israeli representative Abbii Eban also was ex- pecied to speak. The report dealt with the Feb. 28 clash at Gaza in which 38 Eyp- tians and eight Israelis were killed. the greatest concern. Some members of Congress are backing an increase of at least 10 per cent. Eisenhower has hinted he would veto an increase of that size. AS SEBM IN, LIFE SUITED FOR BUSINESS ... in one of the new Tompawate worsteds, in-betweon weight for coolish or warmish weather. FOR MODERN "THERMOSTAT" IIVINO . . . new lighter-weight Tempawnte suits. Exampled in soft, flnnnel-Gnish worsted. new-weight suits, called TEMPAWATE, ideal for the 50-75% of the time when temperatures are 50-75° Men's suits have never made more sense. Their weight is lighter, their color is darker and their feel is lighter. The world's weather is changing. And with man-made temperatures . .. air-conditioned, heat-controlled buildings, trains and automobiles . .. you spend most of your waking hours in the 50°-75° bracket. Winter-weight suits are often too heavy, tropicals too light. New Tempawate suits developed by Hart Schaffner & Marx are in-between weight... light and right for modem living. We have them in tweeds, worsteds and flannels. You'll find them especially handsome in new, deep Charred Tones. MEAD'S 121 MAIN STRUT

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