The Courier News from Blytheville, Arkansas on August 25, 1952 · Page 3
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The Courier News from Blytheville, Arkansas · Page 3

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Blytheville, Arkansas
Issue Date:
Monday, August 25, 1952
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Page 3
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Bargains for BVD Buyers- Four stores above display their special bargains to be offered Wed- nesday in the regular Blytheville Value Day program. In picture No. 1. are children's leather sandals and ballerinas which, will be sold at $l-about one third of the regular $2.95 price. Picture No. 3 display U.S. Oil Companies Have Chance For Reply to Charges of 'Cartel desk lamps in R varying price ranee that will sell at 40 per cent olt Wednesday only. All appliances. (Picture No. 31, will be sold at 10 per cent discpuni, at another Blytheville store. Misses' rayon panties, (Picture No. 4) regular 59-cent values, are to be sold lor 35 cenU dur- Ing the sale. (Courier Nem photo*) WASHINGTON ffl>) — Five big i American oil companies have an invitation to balance the official record with their replies to government charges that they joined in » virtual monopoly of the Western world's oil trade. Most of them already have entered unofficial denials. 1 The invitation for forma] answers came from Sen. John Sparkman of Alabama, Democratic nominee for vice president, in his role as chairman o( the Senate small business subcommittee. It resulted from release of edited portions of a critical and controversial report on an International oil cartel, kept secret for more than a year after Us uampletion by the Federal Trade Commission. The report charged that the five American oil companies joined two huge foreign corporations in an nr- rangement designed to reap rich profits for themselves nnd collaborators from major oil production centers arid market* of the non- Communist world. Report Was Withheld President Truman, acting upon advice of top administration leaders, had withheld the 378-pnge report fro mthe public for more than a year. Il is generally supposed this was in an effort to let British oil interests and the Iranian government try to settle their long and continuing dispute over the rich Iranian oil fields. -, Apparently material dealing with (his phase was deleted from the I document and other matter wasj edited ,and toned down nefore it I ivas handed to. news agencies over the week end. Listed as prlnc-.ijals in the alleged global oil cartel are these American firms: Standard Oil of New .Tor—v. Standard Oil of California, the Texas Co., Socony-Vacuum and G;;lf Oil. , The foreign corporations, named are Anglo-Iranian Oil Co., a British company, and Royal-Dutch Shell, owned by British and Dutch interests. Standard Issues Protest Standard Oil of New Jersey was the tirst to protest the cartel report. Denying any wrongful acts, it said, "The net effect, of this report . - . can' hardly be' other than to undermine ,the integrityof Americans whose ' investments 'abroad- are of. great value, not only to the economy of the nations where they are made, but also to the economy and security of our own country." Moreover, the company said it did not belong to any international oil Cartel. A Standard oil of California spokesman said his company Is studying the report and "naturally expects to present a complete defense against nil charges made against this company and any of its affiliates." "We are conllcr.-nt we can establish that our Middle Enst operations nave been conducted In the best interests of the country and strictly according to law," he said, adding that Standard of California has kept the government fully advised of "all significant develoo- menUs" in : its Middle East operations. A Gulf Oil spokesman said of the report: "Insofar as Gulf is concerned it is not based on fact. Gulf is not a" party to any cartel arrangement. either international or otherwise." Texas Co. Denies it A spokesman for the Texas Co also denied that the company participated in a cartel and sairt ho doubted the existence of any such .international agreement. The FTC report, tracing a maze of corporations; subsidiaries, Interlocking directorates and agreements, pictured the cartel as carving up rh^ world's reseives, supplies and. markets for petroleum and fixing high prices. It taid production in the oil-rich Middle East, Venezuela, and other major petroleum reserves had carefully controlled to lit world market demands and thus stabilize prices without price-cutting competition. The report said this was accomplished in the United stales, despite anti-trust laws, through a system of state and federal laws In the name of "conservation," Chairman Sparkman said the small business group would give (he oil firms a chance to reply at public hearings Wednesday and Thursday before Us monopoly Investigating subcommittee. Helease of the report came shortly after two government court actions against the oil firms by the- Justice Department. One sought recovery of 67 million dollars or more from four of the American firms on the basis of prices they charged for oil for the foreign aid programs. The other involved an anti-trust Investigation of a}] seven. 300 Defiant Korean Internees 'Live as They Please in Japan' r °' " tileand l r - ! rct|ulrf(i I* shl)tt "P twl « • ^y Tor have wi » n i) • Internets rollcall. And are not allowed to step i set p their own government out of the camp limit. Gua^ look and are "Uving a, tne v p|«, aSO " at „ rto-.vn on them from wafch towerT pce "',","'. l1 ! 6 neuspapcr-Tok- 1 Among the 313 Internees new for yo Times said today. Japanese police 'guarding the camp do not try to interfere In Its King in California "internal affairs," added. the newspaper *"»^ int. inv 11114:1111:1:3 JIL'IU IQr deporlnllon me 155 Koreans previously deported by Japan last June but returned by the South Korean government. The Republic of Korea did not allow the !25 to land in Pusan. for It considered the deporteel Japanese citizens. When the 125 were returned lo Sasebo. they rioted and <fomnnderi Immediate release, jnpnnese police winging clubs, herded them to this camp. Then about 200 Red Koreans 'w,j^ ,\iuiuu s ii 115 ]n ^ marched to the r.Amp an[ t <ie rac . n _ rernecs have neither holster! Red i stratcd. flags nor. openly professed cotninu-i K °rean sources in Tokyo said the "Ism as did prisoners of war In the! Internees are "freely keeping close Of the camp's 3G1 internees, the To.<yo Times said. 313 are marked for deportation to South Korea mid 48 are on trial or awaiting trinl on charges of entering Japan illegally The newspaper snid the camp «vis Icatcd at Onnira, on Kyushu Island and that many Japanese are calling "Little Koje" aUhoneh Its In- U • POVV onmp on Island, SAN FRANCISCO MV_Falsal ,r touring 17-year-old King of ami Iraq. Is in once-pnrched California £arrZl?eSX.° n '^"O"'i ™"' h ^ , off the southeastern tin of Korea The Times sold the Internees have their own commandant, six- man cabinet and congress. Esich JO . internees select one assemblyman The commandant BI,<J cabinet mem- I hers are elected by the Internees contact", with outside Koreans. But. it added, the Koreans are Cross Bloodmoblle. Aldermen Donate Blood DU QUOIN, m. «•) _ Duquoin coimcilmen showed, up for their regular meeting a half-hour late. Their excuse: All had been donating blood to the visiting Red Here's why i my husband and I fee! so secure... THE I don't think we're any more afraid of accidents than you are, but if Bill were injured and couldn't work, we'd have a hard time paying the hospital bills. And he's nuile an outdoors man >vho's always fishing or hunting or working around the house. So Bill decided lo lake out this insurance (which costs about 50c a week) and it will pay as much as S500 for hospital and doctor bills. That's one reason Why wt fee] so secure. mtJRANCE DEPARTMENT - G. H. ROBSOX, Manager FARMERS & TRUST COMPANY The Oldest Bank In Mississippi County "TIME TRIED — PANIC TESTED" F.n.I.C.-$10.0«« Each Deposit Momler Fcrtcr.l Rnvrve System One Man Killed In Plane Crash BERLIN M>j—A four-engine British civilian cargo plnne crashed In the Soviet rone six miles west cf Berlin yesicraay. The flight engineer was killed but thn pilot and navigator escnped unliurl and returned snfeh' to West Berlin. Bnusii nrnclnls siiltl the-Russians Bfjrecd to let the British recover the plane wreckage, protaWy today. The plane, a York, had t« n ch»r- lerert by the Berlin city government and was carrying export good* to Hamburg. "SO UPSET BY 'CHANGE OF LIFE'^~ iSCREAM€D AT MY HUSBAND!" writH Mn. M. Uebelacker of Ml. V.rnon, «. r. "Now I don'l >U « M from 'h.1 lla,h.»' «n4 • Arc you going til rough "change - . . . suflcrlng the "hot flashes," nervous tension. Irritability, weakness and other types of functionally-caused distress of this difficult time? What Doclor>' T«jt> Stiawtdl , F ^ h ^ n • - • here's hope for youl In lest* by doctons, Lydla PlnkhsnVa com- nouna and Tibleu gavn relict irom ' ;uch dlstre»s . . . In 63% and 80% (rcipectlvely) o[ the OMS tilted. Conit vlcta or striking r«]]6Ij Surelr you know that Lydl* 1 I; .scltjitlAcolIy modern in "« You know what It taut don» lor c tha relief o[ tenElo UblHty it so oflen ' Before another day has i? d '!: nnkhwn'i Vegetahl* »«h«i" and Irrl• at such tlmeet .^"- ^|N & '''-^J&LiL....J. XTRA! Farmers Truckers Haulers Tire Sale! Homer-Wilson announcts a special truck sale of interest to every man who uses 825x20 10-ply tires. Too many tires arc m stock now so the price is slushed to $60 (plus tax) and you can Keep your old tires! All sizes of passenger car tires are also greally re- i cluccd in price during this one week sale L while they last. f 825 X 20 10-PLY TIRES $ FAMOUS MAKES: Goodrich • U.S. Royal Fir«ton« « Goodyear And others, whilt they last Keep Your Old Tifes: (Price Plus Federal Tax, Of Course) HURRY SALE LASTS ONE WEEK ONLY ! PASSENGER TIRES CHEAP AH sizes — many makes of passenger car tires are included in this one wtek sal*. Come to Horner-WJlson while you can find th« sizes yon want! HORMER-WlLSON ^ Rocket Oldsmobile — CMC Trucks Phone 20S6

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