The Courier News from Blytheville, Arkansas on September 18, 1950 · Page 2
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The Courier News from Blytheville, Arkansas · Page 2

Blytheville, Arkansas
Issue Date:
Monday, September 18, 1950
Page 2
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MONDAY, SEPTEMBER 18, 1950 Uncle Sam Puts 'Stop' Orders On Credit Buying in Nation BtYTHRVTLLE (ARK.)' COURIER NEWS By CHARLES MOI/ONY » WASHINGTON, Sept. 18. <<P)— The government put "stop" orders Into effect today against, over-easy credit to consumers and over-eager buying by businessmen. ^Marking the first actual use of Vpie new home front control powers, the orders had two aims: to check inflation and to conserve scarce and essential materials for defense purposes. The Commerce Department forbid businessmen to accumulate lummer, cement, steel, copper, aluminum, tin, rubber, nylon yarn, certain chemicals and certain other materials, beyond a "practical minimum working inventory." Enforceable by penalties as stiff »s a year In prison and a $10,000 fine, the order applies not only to the firm that buys but also to the firm that delivers the goods. The ban on over-easy installment credit was put into effect by the Federal Reserve Board, after a 10- day advance notice. Terms for au' tos, household appliances, furniture, and home repairs were tightened. Order Applicable to All The order is applicable to sellers, lenders and consumer-buyers alike. and is backed by penalties up to a year in prison and a $5.000 fine It forbids terms any easier than these: For, autos, new or used, one-third down and 21 months to pay. (Trade-Ins count toward the down payment.) For appliances, 15 per cent down and 18 months to pay. The appliances covered a r e /refrigerator's, food freezers, radio and television ^||l£ts, phonographs, cooking stoves, ^ Russians Reportedly Lobbing Guided Missiles Over Baltic STOCKHOLM, Sept. 18. (/P)—The Russians reportedly have been lobbing seven-ton guided missiles over the Baltic area during the past summer. The newspaper Aftonbladet gave this report on the situation: The- rockets wore launched near Jrauz '.i Soviet-held East Prussia an/I were aimed i\t 'a small Island In soviet Karelia. It Is believed the island lies In Lake Onega, some 100 miles from Cranz. : The operation was labelled "silent maneuver" and was combined with Hormones Aid Sheep to Drop Lambs Often CHICAGO, Sept. 18. (fl>)— Armour and Company reported yesterday that hormone experiments on sheep have shown they can be made to tear lambs twice a year instead of once a year. Researchers for the packing com- iany announced results oi the ex- eriments at the Colorado A. and M. Experiment Station at Fort lollins. Dr. Frank X. Gassner. pro. ... . vri . ..,....., — ..... u U w».^.,, fessor of endocrinology at the c? ( shwashers, ironers, wash- school, conducted the experiments He reported that he made Injections 'of the hormone, gonailotro- phin, in 535 sheep. All of them already had lambed once In the year Dr. Gnssner reported, but after , , , - ing machines, clothes driers, sewing ma-chines, vacuum cleaners, air conditioners, and dehumidlfiers. For jurniture and rugs, 10 per cent and 30 months. . . Lighted articles costong less than $100 are exempt from the down payment requirements, but are subject to the pay-off limits. Restrictions Listed Installment loans for purchase of the listed articles carry the same restrictions as installment sales of those articles. Installment: Joans on all other articles — not listed — are required to be paid off wlftlln 18 months, - Reserve board officials said those terms are tighter than credit allowances' recently prevailing, although hot so tight as the terms the board fixed on consumer credit during World War II. ;Ttiey. expect the order to slow the rise;;of ^consumer credit, which soar*P W^«;,r«OKi'i20;34q, 000,000 during the]^6it-Kofea buying rush. 'But. the order does not affect charge accounts or loans repayable in » lump sum, arid it won't touch :|ip*tail;j6iiyers 'who' ! c'in' pay cash: '•"That's"" a numerous group, since consumer Income Is at a record «19,000.000.bco a year and still rising. bank/: accounts" are fat and $35,060,000,000 is outstanding in savings bonds. • . Commerce xjepanment Order The . Commerce Department's order, issued through Its new National Production Authority (NPA), likewise stopped short of "crackdown" force. Notably, it made no move to take away "excess Inventory" that may already have been accumulated by hoarders. That, however, was no guarantee that such a step won't be taken soon/ because: 1. The NPA itself 'pointed out that the control powers voted by Congress provide authority "for the requisition of such excess inventory." ; , 1. Congress had the word of W. Stuart Symington, head of the National Security Resources Board and coordinator of all economic controls, that something more will Jt done .about "prfiteers" shortly ^Jffid he Is personally inclined "to 'requisition,.' their entire Inventory and put* It in the "government) stockpile." , the lnfc«tions 320 of them reacted to the hormone and were bred again. The hormone costs 20 to 25 cent; for each injection, but Armour announced it plans to conduct additional experiments to determine the best dosage, timing and formulae. India Recognizes Israel NEW DELHI, Sept. 18. (/P)—Ind has formally recognized the state of Israel—more than two years after of the Jewish nation's Indepen dence proclamation. The ancient Romans believed Vul can, the fire god, was a black smith with a forge In the volcam Mt. Etna. It idur practice. The paper said ad "reliable Information" •ni.-.i lo base Its story, but gave no specific attribution. The maneuvers . began In mid- July and lasted several weeks. Their lim was to lest the preparedness >f Hie so-called "first group of nev. •artar stations and weapons bases.' Russia long has been reported lo have experlmenla! rocket site 'long the Baltic coast areas .slv :onlrols. Last April a U.S. Navj >lane dlsapneiired on a flight in the same Baltic area. The U.S. ihargcd the plane was shol down by the Russians, Aftonbladot suid the maneuvers were "directed and led by the so- :alled strategic first .line naval command with headquarters near- Katlnsrad, formerly the East Prus- -'flii capital of Koenl?sberg. Tlu report :aid the Russians .have n string of radar stations extending 'iom the Russian-leased base of I'orkUala, 40 miles southwest of EIclMnki, along the Russtnn-con- tiolkd coasU of Estonia, Latvia, Lithuania. Poland and East Germany, as far as Wlsmar in the Russian occupation zone of Germany. TO VISIT MOOSE I.OKO.E—J. Oscar Clem (above) of Louisville, Ky.. regional director of the Loyal Order of Moose, will attend the semi-monthly meeting of Blytheville Moose Lodce 1507 tomorrow night. Mr. Clem was in Paragould today, where he installed a new Moose lodge. Chicago Atom-Bombed In Theoretical Attack As Defense Study CHICAGO, Sept. 18. <!T)— A theoretical A-bomb attack was made on Chicago today as a lesson in the study of civilian defense. The National Security Resources Board planned the maneuver for governors of 16 states and Alaska Lucas Declares Korea War Halted World War III PEOIUA, 111., Scut. 18. «y-The United Nations fight In Korea may have prevented World War III, Senator Scott Lucas (D-I1I) said today. There can be no doubt that U. N: action to defend South Korea has "shaken the bloody bunglers of the Kremlin." he said. Lucas, who is campaigning for re-election, made his remarks fo the Peorin Advertising Club, The United States has (lie greatest collection of atomic bombs and secret weapons ever assembled by a nation, Lucas said. "We have borne the brunt of battle in Korea because we are the largest, and strongest free nation in the world. But we have stirerrt the hearts and won the support of tree men and women everywhere," he said. Luras declared that the 81st Congress has taken "the boldest steps in history" to stop war and prevent Communist domination. and Hawaii, and mayors and officials of 17 cities. The observations will be the subject of a critique on the problem nl a meeting of civil defense heads Sept. 25-29. The problem called for an Imaginary bomb over the northwest side of the city, one over the southwest side, and another In railroad yards of the near southwest side. Previous similar studies have been made In Washington, D. C., and Seattle, Wash. Mediator Grants Weekly Pay Hike To Times Workers NEW YORK, Sept. 18. (/T^— Editorial and commercial employes of the New York Times have been; g-antctl weekly wage increases \ ranging from S3 to $10 by a Harvard j Unlveisity professor sitting as a la- ] bor arbitrator. I The arbitrator's awards, thcj newspaper said today, have been embodies In a new two-year con- ' tract between the newspaper and the CIO American Newspaper Guild. Professor John T. Duntop, a labor . economist who served as the arbi- tratoi, began hearings last July after the newspaper and the guild agreed to arbitration of the ques- lions of wages and contact dura- kJ' -ro under Dunlop's award, the top minimum pay for editorial employes on the staff of the New York Times Is increased from SI 10 to $120 a week, roughly nine per cent. SERVICES Kemp Whisenhunt & Co. • Sand & Finish Hardwood • Ijiy Hardwood FloorinK • Asphalt Tile C»n « lodjj f*r a fret estimate. We PT« r» prompt, conrtcmi* »errke. 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