The Courier News from Blytheville, Arkansas on January 28, 1948 · Page 3
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The Courier News from Blytheville, Arkansas · Page 3

Blytheville, Arkansas
Issue Date:
Wednesday, January 28, 1948
Page 3
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WEDNESDAY, JANUARY 88, 1348 Eccles' Demotion Said Inconsistent Bonking Committee Head Says 'Amazing' As Reaction Varies B.v Auslin ('. H'elirn-eiii U'rulerl Tress Sluff furmponrirnt) WASHINGTON, Jan. 28. (UP) — Chairman Charles W. Tobey of the Senate Banking Committee said lortay the demotion of Manluer S Ecetes from chairman to vice chairman of the Federal Reserve loard was "amazlna" and "Incoiisii^nt." The New Hampshire Republican wa.s Joined in (he protest by ( W o ncinocrailc ;iieiiibers of Ills eominlt- Ice nut a majority of the committee members appeared willing to confirm Thomas n. McCabe nl Philadelphia as Eccles' successor. The fact (hat McCjibe is „ H P . publlcan virtually assured his confirmation by the Republican controlled senate. President Truman asked Eccles yesterday to step down from the post be has held for 12 years and make way for the Pennsylvania paper manufacturer and banker. Tobey said the .shakeup had "some aspects of Incongruity and incon- s;s!rncy If «e rnn take llKerancc^ of the day at par." He was apparently referring to the president's assurance to Eccles who has been at odrls both with Secretary of Treasury John W Snyder and the banking fraternity, thai thf, demotion "reflects no lack of complete confidence in you." Coneresjiiona] sources interpreted the shift as a victory for Snyrter nut the secretary's aides st-ad- fastl.v dcnieti Illal he was cunning for Eccles. They indicated that Snyrier, at. most, played a'passive role by not goln» to bat for Eccles si HIP White House. McCabc's Appointment «•„., regarded as air administration ges- .'ture towards business and haiik- [ ers. who liave bitterly opixiscd some Eccles fiscal policies and proposals. "1 don't like it," said Sen J William FulbriBhi. D.. Ark., of the banking committee. "I hate to see a change in the face, of present conditions, with nrires continuing to spiral in inflation." Sen. Glen H. Taylor. D.. Ida. another bankhur committee member, said ho was ".shocked" bv the "forced resignation. make'i-oom for someone more subservient to John Snyder." "Snyder is now In (hr> saddle, which means that the Wnll street brokers who he so "really admires wil! rlrte high." Taylor said. However. Sen. c. Douglass BUCK. R.. Del., praised McCabc's appointment, and characterized him as "a very fin r businessman." Republican Sens. John w. Brlckor of Ohio and Joseph R. McCarthv ot Wisconsin, and Democratic Sens. John J. Spitrkman of Alabama and Burnet R. Mnybank of South Carolina Indicated they would vote for McCabc'* confirmation whr.i the issue Is raised in the bulking com mittre. McCabe is president of !h 0 Scott Paoer Co.. Chester Pa., and chairman of lhe Philadelphia Federal Reserve Bank. Friends of Eccles expect him to remain as vice chairman of the reserve board at least until after the November election, and to plug for his ideas. He has differed with the administration on many Issues Including the special reserve fund plan which many private bankers charge would cause "oanic." He was coo) toirarji Preslrtent Truman's anti-inflation program which he said provided "clubs rather than cures." Eccles. a veteran new dealer, favored aboltion of tile Reconstruction Finance Corporation and other government lending agencies, in the face of a request by President Tru- innn and Snyder that they be continued. Eccles suggested, instead, that (ho Federal Reserve System rf riven authority to guarantee loans. AlthmiEh the Mew York stocJ: Market bouncer! up yeslerday following announcement of Eccles demotion, bankers generally reserved judgment on the move. They point- out that Eccles. as vice chairman, will continue to have a strong influence within the board J5LYTJ.EVILLE (ARKJ COURIER Taft-Stassen Encounter at Ohio Polls Promises Fast Start for Showdown for GOP Nomination Bjr LYI.K 0. WII.SOX t'nlt+4 Fr«*« SUff t'orrrcpondeni WASHINGTON, Jan. 28. (U.!>.)—The Tufl-Slassen ruckus is building up ft party brftw! likely to cauliflower Jxopublitraii oars and flatten noses before the GOP National Convention closes its doors. <' It could be almost as bloody as • the 1924 Democratic performance when Protestants, Catholics, wets atul rirys combined to knock thetn- seh'es out in I he nnmes and cause* of Al Smith and William G. McAdoo. Thai was when John W. Davis finally accepted Ihe compromise Democratic nomination less tor hope of being elected president t than that it would help his law practice. Now the Republicans are slugging among themselves in the first year in 20 thnt any of them has had any real hope of winning the White House. Considerable In tra -party fighting '.vfls to be expected, what with all hands convinced president Truman should not be as hard to beat as the late FDR, \vhorn the GOP couldn't beat at all. But nothing was foreseen like the foonecrusn- ing battle now beginning within the GOP. Taft Just Annoyed DLspntches reported this week thru Sen. Robert. A. Taft was en- eered when Harold E. Stassen de- jCidetl to inviule his Ohio door yard seeking delegate support Tor the" Republican presidential nomination. On the best authority H may now be said that the senator was annoyed rather than angered. Taft is a prety con! customer. To say the senator is annoyed is like .saying some hotter-headed charac- , tcr is boiling mad and fit to burst. I Preparations are being made to receive Stassen Jn Ohio where H h I planned to swat him with evcry- j thing loose and handy. The. Ohio presidential preference primary in which Taft and Stassen collide takes place May 4. Not since 1920 j has an outsider dared challenge an venui: ueiennoi L Ohio favorite son on home grounds j lice foun<t her in . , has been found It) San Francisco. She met lh e press in Iho Sun Francisco Juvenile Detention Home alter [W>a hotel room with That, was whpn Gen. Leonard Wood challenged Warren Gamaliel Harding. Dtvtf Watching, Walling The ensuing Republican National ' Convention was a bedlam unable to reach H decision until the lead- i _ crs got together in that smoke-filled ' room and counselled witii Fofes Food Shortages Bring Wallace Wells. 19. a sailor stationed at Hunter's Point Naval Yard. Miss Horncr sold she came to San Francisco by bus alter an nreii- ment with 'her mother. —(NEA Tclephotoi. Threats o' Strike to ^n'^uf^rnVs^ i STUTTGART. Jnn. 28 (UP)—The having been solid for him ',?, mT T sirlkc moVt = Tllcllt R Pi'cjul to T'oe Taft-Stassen battle promises l Vuc ''! teniherB - Batlcn sfntn ln lh to be terrific and the plav will be Am f n Z(m ? todny whcre lhc eti.; n i.u, r~- i T _.-...-i .... '. workers council voted to call out 1.0(10,000 employes "n( n date to be determined in the future. Council delegates voted down -strictly for keeps. In a general way it will be the party regulars against, the Young Turks in an Ohio contest which will carry its bitterness Folsom's Speech Received Coolly Alabama Senators Remain on Side of President Truman WASHINGTON, Jim. 28 (IJI'l — Alabama's Senators todny reacted ronlly to their tsovcrnov'.s 1)1(1 for the Democralic presidential nomlim- lion. Until said (hey were (or President Trillium, whom Gnv. James I V'olsom denounced yesterday iu niinoiincliii: lie would like In run for iircstdcnl on the Demoiralic. tlikct. t Most of (lie Alabama House members said "no comment" for Iho record. Privately they expressed surprise, Vii. MMer Hill. I),, Alii., said he. hurt liol read Kolsom's. speech In which lie asked i|u> support ,,f Alabama Democrats ul tlic national i-onveniioi]. "Hut SOIHO [lure weeks HBO, •.peaklni; on n rudlo proKralii sp<iu- sorort !>y (be Deniocnitic Nmionnl (.'niniiiillee, I procllclrd the rc-elec- llou of I>! Triiinnii In November." Hill ,s;ild, "nnit cleclMiei) niv Kup])ovl of liliii. 'I am for President Truman." ^011. Jtilm Sjjai'kmall. I] . A|K , Mid his "iii'linnry iidercsl" WHS look- IllK ufler his own oiimValcii -|o Ijc returned lo Hie Kennio." He. loo. lind not reiicl Folsoin's nmmiinennent • ml didn't "know wliat he did have in tnituE." However Spaikmiui said. ••[ have bri'il n supjiocler nil nloni; of I'resi- (lenl Truinnn and the Democratic admirmtialiim." How ariiani/rd labor in lhe Somh would react In the Folsom candida- u Was nol liniiirdliitrly n|i|r:uciU. I In 1 CoiiKirMi of liidiislriiil OlKanl- /ilions here, however, had no comment. At this I line." n .snokcmim said "lhc CIO is In iio.iva.v committed to any presidential aspirant •• J'olsoin said he "didn't, know n single man or woman who luis 'mill in (he lenders!.i|, of our parly •• He chaiKed I hat the "head of <nir |.':'('y in WaslitiiRioirMmd sliiTolin- ded i-.lniself with men whose prln- . eipal concern is "how they can make a million cloilars." No comment was fori'.-.ramlni; Irani the While House. When Wa.'. j luce annoimccd lie would run for president on a third jmrly ticket Mr. Truman was asked nt' n news conference what he thought, of II. The president's reply ijic;i mm Hint any person In the United States lias a right lo run for president. The Scout Citizen at Work PAQV THAU HOME HIS WA't'lOtf * , , Itf MIS HO/tfJf by Ocrmant desiring r«v«ng« or money were "fantastic" but that tlif. practice was being discouraged uy sentences, of one to three years In prison. Investigators said the tendency lo blnmc Die Americans automatically and unjii.sily for German woes lias "Iwuys existed, but that recently it has become "much more aBgra- viKrrt." They Interpreted the tretul as evidence- of n growing inill-Amc-rl- cnn feelhiK. A* an example. Ilicy rcpoMed the niso of cine Ciriinan glil wlio heard a false rimidr [hut |),c Army wns IKiylng 10,000 marks ($1,000) indemnity In cases where frautellls were raped by American soldiers. The fi'iiuli-ln Immedlnlely submitted « bill lo inllllnry sovcrnmenl offlclal.i liilmlngi "An American soldier rapeil me throe limes n week for ^Ix monihs. but he's gone home now." Army ngenis said u l-'rankfnri. i'M' also Joined (he campaign, •Slu- told authorlilcs a tale of as- saiilt iiiid in'eitiluiit klitnii|ipliig by 1 two soldiers lo excuse her night- I More UKIII :: ,(1110,00(1 members of (lie liny Scon Is of America will observe Hoy Seoul XVeeU. l-Vh. iHh lo I2id. nmiliiii); (be :istli innivrrsnrr ol I lie oic:iiiii:itiuii. This y ( .:ir lloy Sciiuls arc clii|>lia- sil'niR roiiM'i valinn o[ food and natural resolircr.'i. nl:inlinr «anlcns safety anil lire pieveiilion, home rc|Kiii's :ni(l |icrsoiuil lie:illh cbeek- up. Seoul me. |irom(des u-in-lil (icace lhrmi|>li Worlil Jiiiiilnii ee.s and practical bcl|i anioiii; .f! nations \vifh -I.IIJ^Stl nu-mhi-rs. Thrini(;h its \\orld l-'rieiuKhip I iin.l of viilnn(:iiy tills (lit liny Scouts til America helps SniiKs overseas In rclinili'l (Iieir nnils. So fir more tlian .1,111111 Inns nf eiinipmcnl h i)v « been sli!ii|icd. Above is tbe ollicinl liusler markim; lhe .Seoul bhlhd.n-. long nbwnc* horn «M hotptUl. M. vMtigatlon dlxeloMd ib* Iwd • (h« nliiht with her O«nn»n friend. . ( Other UnlMtle cUinu.wcr* ^^™ by Germans who hoped to prom from tin recent -Army policy ut paying Oerrrutrui who wer« Injured by occupation force* In accident*. A hit-and-run victim >t Svh- enhau.sen brought in dozens of witness es to swear ht wa» run o»«r by « convoy of nix Amerlcin truclu' However, the Ainiy'g Criminil Investigation Division found th»t on* German truck wa« respoiuible. Dp THIS-TAKE SIPTOL ooiid b t eofdi. Soi r.iUl.d Ihro.l. SIPIOL t. "Al..,, , ><" Iht IKio.l." | HEAD COLDS COUGH! Fantastic Claims Made by Germans In Revenge Move Against Americans "> j IKnlleil I'rrv FHANKI-'UItT, Jlll\r'ali T1 "Vu'lVj".'. ISchemhlK frauleins mid other ven- iKcful German.; ] lnn launched a into the Republican National Con- I Communist demand that the strike vention and maybe into a 1948 ver- ! bc ™" ctl immediately. Those schcd- sion of the smoky room. ! " lc<1 to slrikc when called include Gov. Thomas E. Dewey of New i i!Kll ' strlil1 - Public f utility and traus- There is no ititfcrence brlwoon n I railroad and n railway in lhe Unit| ed States, where the terms are n.scd intcrchnngoably. SAVE York can observe the Taft-Stassen considerable satisfaction port workers. - Council leaders said the strike was In protest against inefficiency of llection , only so long as it falls short of jnr- '" Protest against Inefficiei | ring party harmony right down to j ° cl ' man officials in the Co! [ its foundations. At that point Dewcy j aml d's'ributlon of food. j won't like Uie situalion much, either. : | But then the Democrat* would be '' Family Fares Better pnrntze Republican chances in No- : T,,,,,,,^ vcniber. BOSTON. Jan. 28 IUPI—stale _ i Rep. Clarence A. Wood of HopKm- i ,. , ' : ton sil ' cl today a Cambridge woman in the state — finance, insurance 'admitted she purposely feeds whis and real c-.slate—dropped to le.^ ! key to her husband and turns him I than tnc per cent. over to the police each time lie Is released from periodic! drunkenness .sentences. The explanation: sober and free. he earns $30 n week: drunk mid locked up, he makes her niicl her children eligible for welfare check; lolaliiiR about SCO ;i week. TO coot BURNS SCALDS CHAFING Quickly nm>ly soothing nnd com- forliriK GRAY'S OINTMBNT with us wholesome antiseptics and nature nidimr medication, is'olhini' else l'l«! it nothing so comforting—or ]>lcn.snnl for externally caused sliin troubles. K5c. (Jet n pnchSKe today. Amciiriin sulilli-rs. clinrui'- IIIK tlicm wllh rape, mansiiuii'htc" iis.sault and llu'd, Army Invc.sllun- 'hc army .sum many (if the chin- inaile nmilniil Innocent soldlc'l.s Guaranteed WATCH REPAIR SERVICE Let our [iu:lciry-tinmr<l (•\^>^^l tunXc your watch hku ni'w n^nli n-n F. IF i RED LEWIS Now In The Body Shop OF LEE MOTOR SALES Expert Repair Work At Reasonable Prices 307 East Main Street Phone 519 Stabilized Employment Cuts Contributors' Tax LITTLE ROCK. Jan. 28. 'UPi—Tho State Employment Security Division announced todny that Arkansas employers can gain preatcr contribution rate savings, which amounted lo nearly $757.00) In 1947. ir they will increase their efforts to stabilize employment. The contribution rate an employer is required to pay in any given year h based on the taxable wnscs he pavs the preceding year. Ths more viable the employment the lower the contribution rale required. In 1947. the agency reports, the contribution rate of one industry GRIFFIN SELF-POLISHING LIQUID WAX for quick a n d easy shines BUCK BROWN TA» BLUE OXBLOOD It took just one week for 10 Million excited Americans to say, i i new, all slccl lUonoMII lioilv ; car c-onslnu-lion llul ,.,„ ..... rlHy' o rear wheels, will, a rugycd, hox- 7%/$ ,o rear wees, wil, a rugycd, hox-sltel fonml.itio,, V..n rt<lc within this fnmic-cn.llcd hclwcen axles- ..... on «,,, ,,f Ih.' Frame as in oilier cars. An.l as. yon rirlc-. 1 In, Ison's annl.imi i,m of iiniriiic const ruction HTK! c.iniforl. fealnn-s «iv..s von a M-ns',1 inn <>l snug snfcly and serene, sniuoll, going m \^ { . ,,' l , v i|,i, J ,, von'v Kno\yii licfore! ' n • Mcef (ho nous flti.l^^.. ,.^| ..It i]._ f . t . ii . . m-ls .-,!,< In.lson's nll-nr — Do you suffer distress from -*, FEMALE WEAKN With Its Nervous, Nighstrung Feelings? Am yr» tiouti]r<l Ijy flljUrcwi nf frt- juiilo luncilonnl mimthlv clldturli- liilrnV lli>.-:i It mako ymi lr,.l m Tirrrntu, i-niutr. rcmlnui, wrnK. » rill nimxly -m huch Hinrsv 'I'hrn vn liy l.yilln K. l>lnklinnrib VcK'HnMo ( f>lll|)l)ll!n] 111 irllovo nllell AVnm. l(iin»! w.,,,u.-ii l.j- dip tliinmaiiiu liun> ri'liuui'il ti-innrknlilc llcn^llta. I'liitliiinr. Uoiiiiiiiumi |, wini liu'lon mil „ nn.nin, nnlntlvc. It liu.i u urmul sciulliliiK i-llccl on ona or wotii.iirn niosl liniinrlnnt ori[Bi>.i. •liikrn ri'milnily—IMnkhnnri Com. liuiiiul ]n.[ps timid up [CBLNinuro «Ki> l''.'t»lirlumirr»>,n •»«.„,> unroot ntomnclilc; loulc! All »lninsloic.i. Monthly Female Pains Plnkhnm'fl r7i)iii|miniil kit rrry fjl/rcflfe to rrllfvc innnDOy cmmpa. hcaitni-lu?. hurlrnrlie — whr-i; dun lo (rJHulp fnnc- lloiml monthly il^Ujrhnuc^. '* VEGETABie , 4 COMPOUND' SE£ THIS AUro/HOnvE TRIUMPH AT THC HUDSON DEAURS USTEO 8HIOW, Glin Harrison Motor Co. 517 West Ash Sh S\\'A.MIS, \vho wish to socurc the fiituvo, consult the "business oppoiluniUcs" and "business personals" columns of tho classifieds — which will bring an ex- cellonl response lo you who want: cash for your idea or liu.siness, an idea or business for your cash! The Blyfheville Courier News Dial 4461 for Classified Dept Classified Ads Payable in Advance

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