The Courier News from Blytheville, Arkansas on December 8, 1949 · Page 10
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The Courier News from Blytheville, Arkansas · Page 10

Blytheville, Arkansas
Issue Date:
Thursday, December 8, 1949
Page 10
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PAGE TEN BLYTHEVILLE (ARK.) COURIER NEWS THURSDAY, DECEMBER 8, 1949, Investors Need Encouragement Insurance Company President Appears Before Lawmakers WASHINGTON, Dec. 8— (/P>— The president of America's largest life insurance company said today "the easy money policy of rccen years" has cut down the earning power of policyholders' savings. keroy A> Lincoln, head of th huge Metropolitan Life Insuranc Company of New York, called on the government to "foster an ec onomlc climate" in which 'privat business can operate with confid ence. He urged that taxes be cu and government spending reduced Lincoln gave his views to th Senate-House Economic Committe which Is Investigating the reasoi behind the reported iack of ris capital for small businesses in tl United States. Chairman O'Mahoney (D-Wyo) said he wanted to learn "what yardstick companies use in investigating savings of the American people." Lincoln denied that Insurance companies can be blamed for any lack of equity capital. If there is such shortage, he said, then it is the result of "the luck of incentives for investments on common stocks on the part of the general public." Lincoln said the insurance companies can'b be blamed for the "easy money" policy. Life insurance savings are one factor in the low interest rates, he said, but other factors are the funds released by commercial and savings banks, building and loan associations, private and governmental pension funds, government corporations, farm credit agencies, and individual savings. "It Is the interplay of many factors which determines interest rates," he added. As a matter of fact, Lincoln Raid, the life insurance companies get only a small part of the taxpayer's income after taxes. lie figured they got 4.1 per cent of the total In 1929 hut in 1048 the total had dropped to 3-5 per cent. Lincoln said the government should reduce expenses, cut taxes, and help develop a business atmosphere ^.in which investors will be willing to risk their capital in new ventures. * Report of Birth of Quints In Colombia is Refuted BOGOTA. Colombia. Dec. 8. (IPi— Two Bogota newspaper reported yesterday the story of the birth of quintuplets in a remote Colombian village was a hoax. Medcllln dispatches had detailed at length the story of the birth of five sons to the wife of an Illiterate mulatto farm laborer In the village of San Alejandro. Medellin correspondents reported the couple have five children, all right—but their ages range from five to 13. The correspondent of El Liberal said a prisoner in the MedeHEn jail, Luis Arroyavc. Invented the quintuplet story. He told authorities, the papers said, he wanted to get out to visit his "five nephews." The story apparently was accepted and elaborated. The mayor of Acheson Says All Atomic Shipments Had Army's Okay WASHINGTON, Dec 8. (AP) — Secretary of State Acheson said yesterday that the Army's wartime atomic bomb project approved government licenses for the shipment of uranium compounds to Russia In 1943. In a news conference statement, Acheson recalled that two export licenses were granted In March, 1943, and another in April, 1943. In November, 1343, he said, a license was granted by the Board of Economic Warfare for shipment of 1,- C03 grams of heavy water to the lussians. "The lend-lcase records now held by the department." Acheson said, I -rngo's'tiira, near San Alejandro, 'show that none of these export | "confirmed" the tale. But El Tlcm- Sharp Drop is Due Tewkcsfcury In State Aid for School Districts LITTLE HOCK, Dec. 8. (AP)— All Arkansas Education Association official expects individual Arkansas teachers' salaries to decline 5150 each next year. Forrest Rozaoll, AKA field secretary. estimated today that state ta>: collections available to school use will decline 1G per cent in the 195051 school year. State comptroller Hoy Hensley recently predicted a 15 per cent reduction in those col- ecttons. According to HozKell's estimates, state teacher salary aid in the 195051 year will be $10,850,434, a reduction of 52,068,743 under the amount committed for the current year. tcenses was permitted without approval of Uie Manhattan Engineering District." The Manhattan Engineering District v,'as the Army's name (or the agency that developed the atom bomb. Acheson in effect denied charges po, another Bogota paper, said the mayor thought he had been asked merely If the family had five children. In this way. it was explained, a story got, out that five boys were born Nov. 26 to 26-year-old Maria Arroynve. Doctors and nurses were To Be Dedicated to GIs TEWKESBOBY. England —</P)— The ancient town of Tewkesbury on Shakespeare's Avon, plan half a mile of riverside gardens to be dedicated to the United States. The project Is "in gratitude for the great generosity of the American nation and In remembrance of all virile men and women who passed through- the town to the oeaches of France." The site, selected by a town meeting, will be cleared by towns- p"5|i]L> in their spare time. Most of the land ami buildings have been donated by the owners. The memorial will be dedicated in 1951. He also expects state aid to school districts to be reduced from 514.88 a child to 5112.50, and state transportation aid to be cut from the present $500 per bus and two cents a mile per child to $318 for each bus j and one and a half cents a mile," per child. WATER SHORTAGE MAKES BIG SPLASH-Residents of drought-ridden Roosevelt, N. J,.draw their ration of valor from an Army truck Mint from Fnrl Monmomh. N. J., after the town s two artesian wells went dry. Water shortage worries many cities in the East. New York faces a three- year drouqhl Cincinnati, O., Philadelphia. Baltimore, Jersey City, New Brunswick, N. J., ami Memphis are among Ihe bififier cities facinfi drastic: w.iler short ases. If water continues to disappear at its present rale, authorities say vast areas of Die U. S. michl become, desert wastelands. Divorce Suit Leads To Woman's Death DAJJ^AS. Dec. 8—f/P)—Harold Blankenship, 25, who shot his pretty brunette wife to death, says he did it so she couldn't have their children. Blankenshtp fired six bullets into his 26-year-old wife In the downtown office where she worked. lie surrendered and wus charged with murder. Blankenship, an art student, had Arrived from Tulsa Monday night He said he and his wife had been separated two weeks and she hat filed suit for divorce. They had two sons, Guy, 3, jRnd Gary, 2. He told detectives: "I killed hei because I didn't want her to htiv our two little boys." Big 3 to Discuss Ending State of Wai- in Germany WASHINGTON." Dec. 8. M>> — Secretary of State Achcson said yesterday legal representatives of ihe United Slates. Britain and Prance will meet sometime next year to consider problems involved in ending the stale of war with Western Germany. Acheson told a news conference that the State Department is now getting the views of its lecal advisers and the attorney general on complicated questions of law involved. He emphasized that terminating the state of war with Western Ger- nany could be considered scpar- itely from a peace treaty. Government officials said that his topic was discussed at. Paris last nonth by Acheson. Foreign Mlnis- Bevin of Britain and Foreign Minister Schuman of France. As a result. Ihey said, the three western allies decided to order their egal experts to start work on pol- cios to be followed. young children arc left without v;agc income. When earnings cniue in old-age or death, the retired worker or his family receive the benefits which have been earned." The iii.siirnnce payments arc never large, Bradford explained, but they arc paid us sin crimed riidit to those who ore entitled to them. The payments (xirtially replace an insured worker's ' average wa^es for work done on social security jolxi. Bradford believes tliat if families know what their rights are. they will be encouraged to supplement their social security insurance, through other savings and investments. 'Mercy' Race for Child Hospitalizes Escorts MEMPHIS, Tenn., Dec. 8—M>(— Three persons, one an Alabama baby who swallowed an open safety pin. were hospitalized here yesterday as a result of a "mercy" automobile race yesterday. Elcvcn-month-olcl Brenda Dianna McCorkle, daughter of Mr. and Mrs. Ira E. McCorkle of Sheffield, Ala., was reported in "fair" condition at Baptist Hospital, the pin having moved from her throat to her stomach. by former Air Force Major George reported on their way with an am- Racey Jordan that secret state De- tjulance to bring the boys and their partment documents had been 11- mother to Medellin. the provincial legally transported to Russia. capital, to be cared for by the "The department has no knowl-1 social Security Institute, edge," he said, "that any departmental documents, secret or other- 1 p o /j ce "f rec fugitive; wise, were made available to the J Soviet government without proper authorization, as alleged by Mr. Jordan." Oleomargarine, soap, machine oil. vitamin pills and lipstick all can be made from whale oil. Termites, when eaten, are said to taste like roasted chestnuts. ficiers J. B. fleavcs, 24, and B. A. Campbell, 40, who were escorting the "mercy" vehicle through the city. Their squad car skidded on wet pavement and crashed Into" a tree at high speed. Each suffered a broken leg and possible Internal 72 Other Coons HUNTINGTON, W. Va., (IP)— Police finally got their mils on a lone- sought fugitive who escaped with 12 others last summer. His mates had all been recaptured shortly after their break for freedom from a railway express car on their way from Florida. Six cops, four cruisers, ami n passerby converged on Number K), after he was spotted in a tree five blocks from the downtown business district. Now Number 13. too, face? a gloomy future. The raccoon resumed his interrupted Journey to a coon hunters' club at St. Alban's, W. Va WHEN FEEL WELLl STEWARTS DRUG STORE ain & Lake IMioue 2822 . Blythcville The vacsum bottle was invcnte by Sir James Dewar about 1802. Insurance Features Of SSB Get Emphasis "Sooner or later, each of us will grow old or die. When either of events occurs, wntre income stops. It Is upon these simple trilllis that old-age and survivors insurance 'under Ihc Social Security Act is based." L. B. Bradford, manager of the Jone.sboro office of the Social Security Administration said today. '•Under this system of Federal insurance, worki'rs earn nnci they and their employers pay for the financial protection of their families," he continued. "The insurance is paid when it is likely to be needed the most—lh:it is, when older people or Lour dream comes true/ . . , A SHEER LACE THAT'S STURDY TOO! Cameo BIJRMILACE Only • $1/5 Who said dreams rlon't conic true? Here's a run-proof lace stocking that's as wispy slieer as a cobweb. And flattering as only extra dull nylon can make them. Never before have such durability anil bounty been combined in one stocking. Super sheer lace nylon dial fils like a second skin- Incomparable Bur-Mil Cameo quality. Color-cued shades that are fashion's darlings. Start enjoying sheerness and stamina, too! Get a pair of ; BURMILACE today. The other two patients were 01- WEEKLY WITH NITE LITE IN BASE and Outstanding Pleated P/asti-Si/ft Shads £&tutifuf/y Trimmed For the Amazing Low Price of FREE CREDIT YOU WILL NOT BELIEVE IT POSSIBLE TO OFFER THIS GREAT VALUE F1TZPATRICK JEWELERS 'It Takes Only 3 Minutes to Open A Charge Account 122 West Main Phone 2728 e Don't Forget the Christmas Parade Tomorrow, 7:30 p.m. • Phone 4409 FURNITURE Blytheviile

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