The Courier News from Blytheville, Arkansas on September 9, 1952 · Page 3
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The Courier News from Blytheville, Arkansas · Page 3

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Blytheville, Arkansas
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Tuesday, September 9, 1952
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Page 3
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__ TUESDAY, SEPTEMBER 9, 1952 Defense Spending Leveling Off Early; Business May Be Slowed B.. SILT »«>¥ rcr •» »nir..._,^_ . (AKK.) COURIER NEWS By CHARLES F. BARRETT WASHINGTON (IT, — A government economist, says the golden tide of defense dollars is leveling off far ahead of schedule — and may *ash some of the props from under business in the process. Robert C. Turner, a new member of President Truman's three- man Council of Economic Advisers, gave (his surprise appraisal yesterday as he Look his oath o( office. In a brief speech, and later in an Interview, Turner told of new government studies which he said show thai defense spending and production already have virtually reached their peak. Was Ble Stimulus Earlier forecasts, by Truman and his mobilization chiefs, had indicated a steady, continued expansion until mid-1053. This projected expansion—as well as current spend-' ing—had been a big stimulus to business. Turner, 44-year old business protestor at Indiana University, pictured the nation as standing now at a crossroads where it must face an end to further substantial increases In defense spending — with fur reaching effects on business and on the vast, program by which the government attempts to guide the eco' norny. Job to Be Difficult As Turner put it, this mean's, ft will be "a difficult and delicate job to maintain our present prosperity." At another point he said continued growth and stability will" require "economic statesmanship of the highest order." One offshot of the new situation, Turner indicated, might be a further easing of direct controls on prices, wages and materials. Instead of asking the public to spend less, the government might encourage more private buying to try to keep business growing. Another effect ,lf the outpouring of defense outlays levels off at present rates, would be a reduction in the government budget considerably under present estimates. "We've had an expanding economy for two years—an expansion forced by the defense program," Turner told a reporter. "Now we can't count any longer on a forced expansion. We will have to do some hard thinking." Government defense spending totaled more than four billion dollars in June slid July and over three biljion in August. Turner foresaw a high level plateau of monthly spending somewhere around the four billion figure. ONLY ONE CAN "REIGN"—Each of these lovely "queens" hopes to reign as Queen of the Los Angeles County Fair, to be held at Pomona, in mid-September. However, only one can hope to hold the reins of "California Kay" during the gala celebration. Top, left to right: Carole Englehardt, Ruth Pierce, Shirley Laccy Jeanctte Movnier. On the horse, left to right: Linda Galliano' Lorna Peat, Marlenc Reiley, Pat Finell, Joye Jewel!, and Barbara Stcele. Gayle Smith holds reigns ol "California Kay." Controls Hot Subject for Wives, Woods Finds FRESNO, Calif I*—Federal price boss Tighe E. Woods knows today, If he didn't know before, that price controls are a controversial subject among housewives. Woods subjected himself to a Ko UPTL ?° K FOR " truce n <Wi as if the Chinese and at Panmunjom take a dim view™ '™ " a—ruUir ' e ma£r1»u h 8 P 3 " eW meetin « h °" se *here, covered with materials heavy enou E h to keep out the coming winter winds' heated two-hour session here yesterday in which some 400 women gave him their views on the value of controls. The meeting was the first of several Woods plans throughout the country. The sentiment was so divided that Woods commented: "I see this is still a country of individuals." One group told the new price chief controls at the consumer level were the housewife's last stand in the battle against inflation. Another asked even stronger controls. Those opposing controls branded them un-American and unnecessary. Several women declared competition and the law of supply and demand would take care of rising prices if controls were lifted They also decried the cost of administering controls, which an OPS official said amounted to 5D cents per capita per year. Mrs. Thomas la Faut was just as positive controls should be retained. "I don't think this is the time to rely on the law of supply and demand to take prices down " she said, "if inflation continues, the cost of defense mobilization will go up and that will come out ot our taxes." I DIDN'T KNOW... .. . until my neighbor told me that the best place to find terrific bargains is in the COURIER classified ads. I know now! I always read them! Ads placed before 9 a.m. will appear same day. All classified advertising payable in advance. BLYTHEVILLE COURIER NEWS News of Men In the Service The three servicemen sons of Mr. and Mrs. Enrl C. Shaneyfclt. o! Blythcville are en route home on furloughs. They are Seaman Apprentice John E. Meadows, who has been serving aboard the aircraft carrier USS Valley Forge; Sgt. Billy D. Shaneyfell, who has spent seven months on Guam with the Air Force;' and Pfc. Charles E. Meadows, who has been attached to a Field Artillery unit in Korea for the past year. Pvt, Russell H. Bready, son of Mrs. A. G. Bready of Blythcville, has been selected to attend the Army Pood Service School at Camp Chafiee. Cal B. Gossett. son of Mrs. Nell t. Gossett of Burdette. is among tlie 82 Naval Reservists aboard the destroyer USS Willett on a training cruise. Gossett is a student at Hendrix College. Conway. Pfc. Clctus C. Jones, Jr., husbandT of Mrs. Bonnie Jones of Kennett Mo., has been awarded the Combat Jii/antryman's Badge for service with the 25th Infantry Division He is an ninmunftihi bearer with Company G of the 35th Infantry Regiment. Pvt. Ivy j. Keeling, son of Mr. and Mrs. Ray Keeling of Warden, Mo., is now serving with the 51st Signal Battalion in Korea as a nole lineman. Three Crime Figures Feel 'Crackdown 1 WASHINGTON M>,-Three,of the biggest figures in America's underworld—Frank Costello. Joe Adonis and Anthony J. Accardo—felt the weight of a new government crackdown on crime today. In swift action yesterday 1. The Justice Department announced it will try to strip American citizenship from Costeilo. Italian-born racket, czar who came to this country at the age of 4 Loss of citizenship could lead to deportation proceedings. 2. A federal grand jury Indicated Adonis and Accardo for contempt of Congress, a charge stemming from their refusal to answer questions before the Kefauver Crime Investigating Committee last year. Conviction would entail both fines and jail terms. Atty. Gen. McGranery said the attempt to cancel Costello's citizenship will be based on a charge that the dapper.gambling operator who grew up In New York's tough Hell's Kitchen section neglected to disclose a. criminal record when he applied for naturalization papers in 1925. Ship Brings Bodies Home SAN FRANCISCO UP> — The SS Oberlin Victory, carrying the bodies of 112 Americans who died in the Korean War, is scheduled to arrive here late Thursday. IN TRAINING — Airman Third Class Samuel E. Young, son of Mr. and Mrs. D. W. Young of Blythcville, Rt. 2, has been transferred horn Lackland Air Force Base, San Antonio, Texas to Kcesler Field at Biioxi. Miss., where he Is attending B radar- electronics training school. He visited his parents here last week. 800 Youthful Convicts End Sit-Down Strike CHILLICOTHE. O. t/Pt—A mass sit-down strike by 800 rebellious young convicts at the Federal Reformatory for Men ended early today after more than nine hours of destruction and defiance. Three inmates were wounded none seriously, before guards, state highway patrolmen and deputy sheriffs quelled the uprising. John J. Galvin, associate warden, said the men refused to go to the mess hall after finishing their work for the day. They milled about, the prison yard for several hours, then invaded three dormitories. Prisoners wrecked furniture, broke windows, threw bedclothing into the yard and set fire to the mattresses at nightfall. They screamed In protest when about 300 convicts gave in and returned to their cells at mid-evening, and (ought among themselves all during the demonstration. Galvin said he heard the "usual" complaints about prison food but said he did not know the reasoti for the sit-down strike. 40-Foot Letter to Wife TOKYO Wt Seaman Pat Keeley Jr. typed a letter to his wife Wilma of Garden City, Calif., bringing her up to date on his activities. -The 28,159-word letter Is 40 feet long and took a month to finish. Over 29.7 billion eggs were laid by hens on U. S. farms during the first five months of 1952. PRESCRIPTIONS Fresh Stock Guaranteed Best prices Kirby Drug Stores as teen in Good Housekeeping... CITATION AMERICA'S BEST FITTING SHOE! Come see Citation . . . step into it; fee! its comfort . . . then step out in it, foot-happy and smart too! Leather anri colors . , . $00 YOU CAN WIN $500 In HM CITATION SLOGAN CONTEST NOTHING TO IHTI get your Entry Blank here (Cwil«t IruJe. in fn*ry Uonlt) 6*. SONS SH O E S Good Shoes & Hosier} NOTICE OP SAI.F, HOUSING AUTHOIIITV OF THE CITY OK ULYTIIKVILU: ARKANSAS—NKW HOUSING AUTHOltlTY BONDS (F1KST ISSUE) Sealed proposals will he received by the KousinK Authority of the City of Blythcville, Arkansas I herein culled the Local Authority), at its office at Chlckasaw Courts P O Box 869 in the City of Blytlievillc! until, and publicly opened at, one o'clock P. M.. (C.S.T.) (three o'clock P.M. E.S.T.), on September 23, 1052, for the purchase of $1.312,000.00 bonds of the Local Authority to be known as "New Housing Authority Bonds .First Issue)" Urcrein called the "Bonds"), being Issued to aid in financing its low-rent housing projects designated as Project No ARK-5-1, 5-2. The Bonds will be In the denomination of $1000 r.'irh, will be dated September 1, 1951, will mature serially on September 1 ench year commencing September 1, 1053. and ending September 1, 1092. and will bear interest team Scplcinbcr 1, 1052. payable scmi-aumially on March 1 and September i. Both principal and interest will be payable at the office of the Fiscal Agent of the Local Authority appointed puisuant to the Hcsolution authorizing the Bonds or at the op- lion of the holder al the principal office of r\n alternate paying agent in the City and Slate ot Ke\v York as may be prescribed by the successful bidder tor the Bonds. The successful bidder may also prescribe an additional alternate paying agent for the Bonus. Each proposal must rn be submitted on a form prescribed by the Local Authority which will more particularly describe the Bonds, the terms of optional redemption thereof, and the conditions of the contract to purchase the Bonds, (2) prescribe n single rate of interest which shall bo a multiple of one- eighth I 1 ;,) of one per cent (1%) per annum to be borne by all of the Bonds. (3) prescribe a schedule of annual maturities on the basis prc- TOP DOG -"I.illi Poo" is up In the air over her job with "The Gre.ll Mario," aerialist. She balances on his head as he teeters atop a 60-foot tower at the Min- nrxsota Slate Fair scribed In the Annual Comribuiions Contract between the Local Authority mid the Public Housing Administration relating to Projects, (4) offer to purchase all of the Bonds at a price of not less than par and accrued interest to the date of delivery and payment therefor, (5) bo accompanied by n certified or cashier's check payable to the order of the Local Authority in the PACK THKEB amount of $26.240.00 as » good f»rth deposit, and (6) be enclosed In * sealed envelope addressed to the Local Authority which should !» marked on the outside "Proposal for Bonds". . .TJ le a '«fd will be made to tha bidder complying with the terms of sale and offering to purchase tha Bonds at the lowest rate of Interest without reference to premium- provided, however, that if two or more bidders offer to purchase the Bonds at the same lowest rate of Interest then such award will be made to the bidder offering the highest premium. The right Is reserved to reject any or all proposals, Schedules ot annual maturities, on the basis prescribed In the aforesaid Annual Contributions Contract at various Interest rates and prescribed proposal forms will be turn- ished to bidders upon request addressed to the Local Authority or to the General Counsel of the Public Housing Administration, Longfellow Building, Washington 25 DC or to the Field office Director ot the Public Housing Administration in the cities of New York. N. Y.; Atlanta, Ga.; Fort Worth, Texas; Chicago. 1U.; San Francisco. Cal.; Boston. Mass.; Richmond. Va. ; and San Juan, Puerto Rico. The Bonds will be general obligations ot Die Local Authority secured by a first pledge of annual contributions unconditionally payable pursuant to the aforesaid Annual Contributions Contract in an amount which, together with other funds of the Local Authority which are actually available for such purpose, will be sufficient to pay the principal of and interest on the Bonds when due, and the bidders may condition their proposals upon receiving the unqualified rfnprovlng opinion of bond counsel designated by them to that effect and whose fees or charges they will be obligated to pay. HOUSING AUTHORITY OP THE CITY OF BLYTHEVniE, ARKANSAS « J. Mel! Brooks, Secretary-Treasurer Samsdnite From DREIFUS will go through college with you and keep on going! strong enough to jtand on; iU finish wipes clean with a damp igned for wrinklc-free packing and ...comes in fashion-right feminine ridsome he man colors And best of all dgels. > matched set of !iio si than you'd expect to pay (or uch quality luggage! enough la stand on! DREIFUS Meet Dreifus . . . Wear Diamonds 31B \\i:ST \l.\l\ ST. ITORES IN MEMPHIS, ILYTHEVIU1 AND SYERSIUR8

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