The Courier News from Blytheville, Arkansas on July 18, 1952 · Page 14
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The Courier News from Blytheville, Arkansas · Page 14

Blytheville, Arkansas
Issue Date:
Friday, July 18, 1952
Page 14
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PAGB FOURTKBlf (ARK.) COURIER trm U.S. Prepares 'BraSS-KnUck' Air Force Has No Explanation Of Big Alleged Oil Monopoly ° r 7 '°°° New Flying Saucers By JACK ADAMS WASHINGTON WV-Tlie government today prepared a brasa- kmickld Investigation designed to break up an alleged international oil monopoly by seven glnnts of the vital Industry. Both criminal and civil proceedings against live American and two foreign oil companies are being worked up by Ihe Justice Department under anti-trust laws forbidding monopolistic practices, price fixing, nnd restraint of trade. Atty. Gen. James P. McGranery told a news conference yesterday that a federal grand Jury, sitting here, will shortly start probing Into activities of what be caled Into activities of what he called "the international oil cartel." At the same time McGranery said his department will Institute a civil anti-trust .suit against the seven companies In the District of Columbia courts. Punishment Designed The criminal proceedings are designed to punish past offenses. The civil proceedings are designed to prevent any repetition of the same offenses In the future. McGranery named these firms as Involved in the probe: standard Oil of New Jersey, Standard Oil of California, Texas Oil Company, or in London. Company Not a Party However, lost week Eugene Hoi- man, president ot Standard ot New Jersey, said "this company is not a party to Illegal arrangements of any kind, Including those, which would fix prices, allocate markets, or control or restrict production anywhere in the world." Tbe point.-; Holman mentioned arc among those covered by tbe ^»>m 62-veav-old Sherman-Clayton Anil- nlcatlon Socony-Vncniim, U. S. owned — and two foreign firms dominated by the British. Trust Law which bans monopolistic practices n,id outlaws agreements to fix prices or restrain trade between states or between Ihc U. S. and foreign countries. Lconnrd J. Ejiimerfrlick. Justice Department attorney who conducted tbe government's successful anti-trust suit against the Aluminum Company ol America six years ago, was commissioned lo go before the grand jury and prosecute Ihe civil acllon In International oil. Sen. Runnings (D-Mo). currcnlly demanding n congressional Investigation of the seven oil firms, said in a public statement two days ago that the sroup dominates U. S. foreign policy In tbe Middle East, Indonesia and Venezuela nnd works together In Hie pricing field and elsewhere "with the regularity nnd precision ol a Royal Dutch Shell and Anglo- Iranian Oil Company. A spokesman for Standard Oil of California said nt San Francisco last night "our record is clear" and thnt the international operations of Us affiliated companies had been "carried on to the best Interests of tho United States." There was no immediate comment from any of the other oil companies, either In this country i company, tlie regula Gulf Oil — all I fine Swiss watch." The activities of the group In the International oil field were ana- lysed In a recent secret report prepared by (he Federal Trade Commission's staff. DEMOCRATS (Continued from Page 1) nols, who has sliunncrt the nomination the others are scrambling for, Invited nil Democratic governors to breakfast wllb him here Monday In advance of a scheduled welcoming address lo the convention. Stevenson bus insisted he is running only for re-election as governor and Arvcy's reported switch (o Barkley was In line with tbe Illinois commlUecman'.s public pronouncements thai be has given up hope of getting the governor Into tbe presidential contest. There remained the possibility, however, thnt the Barkley support Oct 3646 3664 3630 3064 j might take the form ot a holding Deo 3622 3842 3618 3642 j action — with an appeal lo Steven- Mar. 3612 3630 3601 36301 son possible if Ihe convention ties Mar 3595 3814 3589 36141 "self In ft knot after seven or eight ballots. nusscll's political pass nt (he Trinnnn cnmp surprised and angered Dixie leaders who originally had nudged him Into the race as tbe anti-Truman candidate ot the South. Some Southern reaction lo Russell's proposal to "supphml" Tnft- Hinlley wllli niiotller labor law came close lo political violence. Former Gov. William M. Tuck, who was ready to laud Russell's candidacy belore the Virginia Democratic Convention ai Roanokc. cut out of n prepared speech all reference to Russell's name. Anrt Sen. Harry S. Byrd commented IhuL he just didn't understand Russell's abont-fnce on a law the Georgian voted to enact over President Truman's veto. Byrd said be still wants to support Hussell however. Tlie Virginia convention, which hnd been set to endorse Ilmsell significantly voted to leave unin- slrucled its 28-vole delegation to the convention here. Hussell Insisted, however, be did not interpret thai nctlon ns meaning he had lost any Virginia votes. Commodity And Stock Markets- N«w York Cotton Open High Low close New York Stock* A T and T ................ 164 Amer Tobacco ............ 57 J-4 Anaconda Copper ......... 46 Beth Steel ................ 51 3.4 Chrysler .................. 77 Coca-Cola ................ )13 Den Electric .............. 01 Oen Motors ............... 51 7-8 Montgomery Ward ..... 64 1-4 N Y Central ... ........... la 5-8 Int Harvester ............. 33 1-4 J C Penney ........... '.'.'. 593.4 Republic. Steel ...... 41 7-8 R »1'° ..................... 26 7-8 Socony Vacuum ......... 84 3-8 Studebaker ............... 36 5-8 j Standard of N J .......... 70 1-8 Texas Corp ............... 57 1-8 Sears ................... 66 1-2 " S Steel ................ 40 ,„, N«w Orleans Cotton Open High Low Close 363D 3659 3036 3659 3617 3636 3612 3636 3608 3627 3608 3627 3600 3602 3600 3612 VIRGINIA (Continued rrom Page 1) !y fair as written at present and he was against anything that would weaken 11. Byrd was in telephone commu- Russcll yesterday the Tuft- decided shortly otter news of Hartley criticism put chill on the convention Later Byrd received a telegram from Russell elaborating his views on changes In the labor law—views which obviously didn't satisfy Byrd. Elsenhower May Win There was some discussion (hat the Virginians—wllh perhaps nowhere to turn to a candidate at Chicago — might find themselves behind the candidacy ol Cien Uwljjht E. Elsenhower. Four years ngo tho stale Democratic convention Instructed Its delegates to work for the nomination of Eisenhower for President, but they sought him then as tbe Democratic nominee. And whether (hey arc for Russell or not, when (he Issues finally jell nt tbe national convention nl Chicago next week, the Vir- gians bad another possible course: At the suggestion of former governor Tuck, who was named ns new chairman of the stale party, tbe convention- laid the groundwork for n bolt It the CliicaRO convention should come lip will a personality and program obnoxious to the Southern point of view. When tbe convention adjourned nftcr electing 20 district delegates with one vote each nnd 16 from the slnte nt Inrge with a half vote each, It agreed to reconvene a.-the call of (he state central com mlttee. This call will be Issued after tbe Chicago convention only if the party leadership feels thai some special action should be tukcn on shitting Virginia's support from Ihe mttl&nal party nominee. .?' Cffv ~ A spokesman visual and radar sightings of the at Wright-Patterson Atr Force Base says (he Air Force still has no explanation for 15 per cent of the approximate 1,000 flying aaucer reports It has received. The DayUm Journal-Herald quoted the officer as saybig jet fighters equipped with radar have been scrambling into the sky seeking the unidentified object.? but have been unable to make contact with any "saucer." The officer said ground radar had tracked some unexplalnablc objects traveling at speeds between 1,500 and 2,000 miles an hour, but added there never have been both same objects, Capt. E, J. Ruppelt, "saucer" project officer of the Air Technical Intelligence Center, said "we Rr» firmly convinced the persons mak- Ing these reports actually see something In the skies." The Air Force gave this breakdown of reasons for the sightings: Meteors or other heavenly bodie; —38 per cent: baloons—13 per cent; birds and alrcraft^-2'! per cent; hot.xes—two per cent; too nebulous to classify or confirm in actua! sighting—10 per cent and uncx- plainable—15 per cent. Berlin Builds 'Kidnap Fence' BERLIN W)-Wcst Berlin crews hammered the last spike today into 127 barriers blocking off escape routes for Communist criminals seeking the safely of Die surrounding Soviet zone. At Ihe same time, the Western Allies lifted an old restriction nnd permitted the West nerlln police assigned In border and commando duty to carry rifles. Pistols had WAR (Continued from Page 1) the strategic slope west of Choi-won after a deafening preparatory barrage from Red mortars and field guns. Allied reinforcements scrambled up the slippery hill shortly after the battle began. The Red guns opened up on "Old Baldy" last night and 40 minutes later Communist troops assaulted been standard equipment since the: L ,.„,„,,, „. ,....•, force was created after the war 1 height. Then high velocity fire fl 'orn Communist tank guns raked The measures grew out of public Indignation over tbe Communist kidnaping of Dr. Walter Lime a leading official ot the anti-Red Free Jurists' League. STEEL The annual capacity ot Yugoslavia's blast furnaces nt present Is believed to be between 400,000 and 600,000 tons. (Conlljuiod from Page 1) threaten Ihc whole Industry. Ilehiml-Scciie FJffhi glared Meanwhile, n belitnd-thc-scene fight apparently was going on in President Tinman's official family over a government offer of n $5.65 per ton price boost, for steel If the strike Is settled. High officials said Price Chief Ellis Arnall Is urging Hint the offer be withdrawn but that" Acting Mobllizer John R. Steelman is tbe hill. United Nations tanks answered nnd at least one of the Red armored vehicles was set afire. M"be Red tanks pulled out of the fight shortly after midnight. However, the Communists did not give up the assault until 3:45 a.m. The fighting was the most Intense in more than a week 01 routine action across the front. Cloudy weather grounded most Allied warplanes today. Action on the Central Front yesterday increased sharply, with more than 25 patrol clashes reported from the Hantan River east to Kumsong. One Allied patrol pushing into the old Red Iron Triangle assembly area on the Central Front left a trail of Communist dead from four separate skirmishes. The pa- standing by the proposal, which trot counted 40 dead Communists he reporledly made last Saturday | n,,d 36 wounded. Estimates of casualties put the figure of dead Communists at 83 and 90 wounded. to United States Steel Corp. cxcc'ii" lives. Artiall would not comment other than to say lie always has maintained the steel industry Is entitled to a $3.81 price increase "and no more." Mar . Soybean* Jly Scp NOT Jan Mar 3.27% 3.25 3.26=1 3.02 2.9T.i 2.98« 2,87?; 2.84-v; 236 2-0054 2.87',i 288'i 2.91 ?1 2.88»i 200 Livestock NATIONAL STOCKYARDS, 111 W-(USDA)— Hogs 7,500; barrows and gilts opened steady but «oon weakened: late trade 25'lower Ihnn Thursday; choice 180-220 ibs unsorted for grade 22.50-22.75; slowly moderate number 22.65-22.75; late top 22.50; packers lop 22.00 but getting few hogs; bulk 230-250 Ibs 21.85-22.34: occasionally higher- 260-300 Ibs 20.25-21.50;'lights about steady: 150-nfl. Ibs 19.25-21 00' 120- HO His 17.00-18.75: fan's steady: 409 Ibs do\vn mainly 18-25-19.00- heavier sov.-s lii.25-ia.00; boars and stags unchanged: boars 11.00-14.00- odd stags 13.00-15.00. Cattle 100. calves 600: other classes about steady in dcnn-up tracing except vcalers mostly 1.00 lower; odd lols rommcrcini nnd low good yearlings, steers and heifers 24.00-28.00: most utility and commercial cows 19.00-22.00; canner and cutter cows H.Oo-18.75; utility and commercial bulls 22.0026.00; cutter bulls largely 18.0021.00; good anrt choice vcnlers 20.00-26.00; culls down to 15.0(1. CONTEST (Continued from Page 1) gntes. "I'll abide by the same rules nm 1 else." tbe Texas executive told newsmen. A Srrnnil fur Ikc7 There was some talk amon» Dixie Democrats that If a New Deal t.v|ic man Is chosen ns the party's presidential standard bear cr, several Southern slates ma 1 put Qeu. Dn-iKhl D. Eisenhower Ihe Republican party's nominee, as the sta!. .' Democratic nonn nee. This charge was made In n statement tnsl night by Maverick against Ihe Shivers faction. Shivers replied that while Gen Eisenhower Is n good mnn, "he is a Republican." anrt ndclcct: "I'm inlonvitcd la noniinaliiip Ibo bcsl possible Democrat lo run against him." lie said Russell is bis No. I choice. With the Courts Circuit Court; Lester Cronnn V5. Jack Craig and A. Broun, d.Hin.Tt-e.s. Tune-In Sot. July 19-8:30 p.m. Station WREC And Hear IKE MURRY for GOVERNOR from Pint Bluff Get Aboard the Winning IKE MURRY Bandwagon Br Jlra Bland ' Campaign Director, UUIcTloi rntlinns established great Irrigation works in the Southwestern United States long before the coming ol the White Man you MEAD'S July clearance offers a tremendous savings opportunity Drastic Reductions on nationally advertised men's wear throughout the store! FRIDAY, JULY 18, 1951 A Message from Leachville We Ask the Voters of Miss. County fo Elect WILLIAM H. 1*. BILL n WYATT State Senator 1. "To End the Threats, Intimidation and Political Bosses in Leachville. 2. '%er's End Political Waste! Favoritism! Seff Promotion! Unnecessary Lawsuits! 3. "Let us be worthy of Our Freo Traditions By Voting For New Blood in Public Office" The Principles Declared and Lived by WILLIAM H. "BILL" WYATT , Make Him the Best Man for STATE SENATOR Bill NVyatt Has Cleat ly Declared, and We Sincerely Agree that: • "Recent Events show I he need for renewed Interest in government by all scf our house in order and achieve sound business operation fur the common good., .there must be new blood in public office." • "iNo clefir-Iliink-insr American will attempt, openly or secretly, liireclly or by pretexl, to deny another the right to compete as a candidate Competition, not monopoly made America great. It must be continually fought for today. There is no democracy unless the voters have a choice of candidates, and can freely select the one they think will represent anil servo THKIH interests best." ,• "i humbly liesire this opportunity to serve." In Asking Your Vote for Stare Senator, Bill V/yatt Has Unequivocally Pledged: • "Continued Iioncsly of purpose; sincerity of investigation; integHtv of decision; to act openly on facts without hias or prejudice; nnt (<> seek personal gain nor partisan purpose; to work harmoniously with ethers representing this county; and to measure each action by slan- darcls of fairness and decency." Leachville Citizens Committee for Wyatt (.;. H. HigRinhothani President H. H. Howard vice President Political AdvertWn*— pit* for by W. V. Br»nn»m. I. W. V. Brannum Bccrtterr ', /Irk.

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