The Daily Register from Red Bank, New Jersey • 3

RH) IHNK REGISTER Thursday, June It, 1962 Baccalaureate Exercises Sunday for Red Bank High Successful Investing Some of Market Drop Seen Due To Distress Selling By ROGER E. SPEAR Delay Awarding Contracts For Leonardo Beach House some of your money in sound stocks. In view of the drastic decline this year, however, I believe I would wait for the market Cigar, Pop? Tlioy-ro Hero RED BANK Do you look like a father? If so, dont be surprised to find a cigar in your mouth Saturday. Businessmen, says the Community Chamber of Commerce, will be out in the business district to give free cigars to anyone who looks like a father. The cigars are reported to be fine ones.

to stabilize before making the address, Once Upon NEW TRUSTEE William O. Barnes, right, a Newark attorney who resides in West Long Branch, is congratulated by Dr. Mason W. Gross, president of Rutgers University, upon his election to the university's board of trustees. Barnes, a 1948 graduate of Rutgers Law School, was one of six new trustees elected last Friday under an amendment to the state university legislation signed last month by Governor Richard J.

Hughes. commitments. Stocks Hit By Waves Of Selling NEW YORK (AP) Two strong selling waves assaulted stock market prices yesterday. The market resisted one but succumbed to the other. Losses were sharp.

Of 1,316 Issues traded, 935 declined and 106 advanced. New highs for the year totaled 3 and new lows 174. International Business Machines touched a new low of 322 closing with a net loss of 12 at 322. American Telephone returned to the place It occupied as most active stock during the worst of the market convulsion of a couple of weeks ago. fell 2 to 102 on shares.

Second was Polaroid, off 57 at 87 on 67,500 shares. Third was U.S. Steel, off 1 at 48 on 62,800 shares. Fourth most active was Xerox, down 7 at 95. All the 15 volume leaders declined except General Telephone Electronics which rose to 20.

Ford dropped 2 and Chrysler 1, the other auto stocks losing fractions. Jones Laughlin dropped a point, Bethlehem and Republic Steel fractions. Reynolds Tobacco lost 2, Union Carbide 2, Boeing Radio Corp. 1. Sears, Roebuck 1.

Gold shares backed away from recent gains, Homestake and Dome Mines losing fractions. International Nickel advanced a point, Santa Fe and Standard Oil (New Jersey) each. Yesterdays closing stocks: come of a Civil Service Commission examination for the post. With the assignment of Lt. Kenneth Luker as head of the traffic bureau, one shuft in the police department has been functioning without a superior officer.

Patrolman Collins will assume that post. He had been a member of the force since 1336. The committee accepted the resignation of Patrolman George Brown from the force. A member of the unit since 1957, he said he was taking a job with higher pay. The committee held for study a request by the Bayshore Civic Association to adopt a curfew for teenagers in the township.

Also held for study was a request by the chief of pol.ee that parking on both sides of Rt. 33 be banned. The committee announced it would apply for state funds under the Green Acres program to purchase the beachfront area at the foot of Wilson Port Monmouth, for a municipal beach. An ordinance was introduced authorizing the expenditure of $15,000 for improvements to the railroad state parking lot In Middletown Village. The existing lot would be resurfaced at a cost of $6,500 and stone would be put on the first half of the new lot at a cost of $8,500.

Public hearing will be June 27. The commitee held for study an ordinance appropriating $30,000 for purchase of a compu-tronic business machine for the tax office. A plenary retail consumption liquor license was granted or the Howard Johnson Restaurant and Motel, Rt. 35. Construction of the motel is expected to be finished by late summer.

A new license was issued because motels with 50 or more units are entitled to a license under state law. ASSOCIATE DEGREE AUBURNDALE, Mass. Miss Kathie Kuehl was among 283 students who were graduated from Lasell Junior College at commencement exercises Sunday. She was awarded an associate in science degree. Miss Kuehl, daughter of Dr.

and Mrs. Frederick A. Kuehl, 86 Rum-son Rumson, is a 1960 graduated of Rumson-Fair Haven Regional High School. MIDDLETOWN The Township Committee received bids last night for the construction of a beach house in Leonardo but delayed awarding of contracts pending a meeting with residents there to determine where the building will be situated. Low bids received totaled $5,484 for the building.

It was originally slated for the east side of the state marina. Leonardo residents however, want the building located on the west side, where they feel there is more beach area and room for parking. Township Committeeman Ernest G. Kavalek asked the governing body to delay awarding contracts until a meeting could be held with the Leonardo residents. That meeting, a closed conference, will be held Wednesday night at town hall The committee will then meet Friday to award the bids.

Woodward Construction this place, submitted the low general construction bid of $3,925. Everett H. Thorne also this place, submitted the only other bid $4,840. The low plumbing bid was that of Henry Pulsch, Port Monmouth, $1,159. Sorby and Hodson, Atlantic Highlands, submitted the other bid of $1,669.

Two firms, Lester Nelson, Port Monmouth, and Little Silver Electric submitted bids of $400 each for the electrical work. The Nelson firm received the contract on the basis of having done prior work for the township. Other bids were as follows: Sodens Electric, Navesink, $450; Edward Ziegler, Cliffwood, $495, and Red Bank Electric, $515. Esso Standard Oil of New Jersey was awarded a pact to supply 25,000 gallons of asphaltic oil at a price of $4,420. Other bidders were Charles J.

Hesse Belford, $7,475 and M. J. Stavoia Red Bank, $8,000. The committee delayed awarding a contract to the Hesse firm for 7,800 cubic yards of fill dirt for the sanitary landill pending an examination of the dirt composition by the township engineer. The Hesse firm will supply the fill at a price of $7,332.

Campo Construction this place, submitted a bid of $7,722. In other business, Patrolman Howard Collins was appointed an acting sergeant pending the out Holmdel to Get School Report HOLMDEL The so called members during a period of nine Rutgers Report a survey of weeks-the local school system and Its The board wiU discuss and re- view the architects and announce anticipated future needs will jts choice within a few weeks. It RED BANK The senior Class of Red Bank High School will hold baccalaureate exercises Sunday at 6 m. in the school gymnasium. Rabbi Joel Srmlchensky of Congregation Beth Shalom will de- Tree.

Invocation will be offered by Rev. Harold Homberger of Holy Trinity Evangelical Lutheran Church. Msgr. Emmett A. Monahan, pastor of St.

James Catholic Church, will give the benediction. Praise Ye the Father by Gounod-Thompson will the processional, and Beethovens "Hymn to Joy" the recessional. Other hymns are "Alleluia by Randall Thompson, "Send Forth Thy Spirit by Joseph Schuetky and "The Lord Bless and Keep You by Lutkin. Parkway (Continued) The plan for the new interchange was announced in November last year, but subsequently was withdrawn by the authority after a conflict of opposition arose. Critics said that Red Hill Rd.

was not constructed to handle the anticipated heavy traffic load created by the construction of a new interchange there. In April the freeholders reversed an earlier position and announced their agreement to the Red Hill plan, but suggested a study of a Dwight Rd. connection. At that time, however, the authority had agreed to shelve the proposal at least until next year. Earlier In the year Middletown Mayor John T.

Lawley said the township wanted the interchange at Dwight Rd. Yesterday he said he would agree to the Red Hill proposal only if the Dwight Rd. link were constructed. The authority has maintained that the cost of locating an interchange at Dwight Rd. would be prohibitive.

Officials at Bell Labs in Holm-del, where about 2,500 people are now employed, have sought the construction of a new Interchange as well as continued Telegraph Hill access. For Red Hill Yesterday Mayor James H. Ackerson of Holmdel said he favored the Red Hill location as he has in the past. In addition, he said he hopes to see the Dwight Rd. link constructed and the Telegraph Hill access road reopened.

Referring to the financing of the road link, Mr. Irwin said nothing definite has been planned. However, he said the county was obligated to co-operate with local governments and the authority to provide safe and adequate transport consistent with the needs of the area. The freeholder director said that the board recognized the feasibility study of the authority which indicates the interchange should be located at Red Hill. According to Mr.

Tonti, a reappraisal of the plans has indicated the cost of the Red Hill project would be $648,000 or more than previously anticipated. A part of the increase could be attributed to the authoritys plan to spend $28,000 to accelerate the project and the authoritys yet-to-be-determined contribution to the cost of building the Dwight Rd. connecting link, he said. Others present at yesterdays conference, held at the Shadow-brook, Included state Sen. Richard R.

Stout and Assemblymen Alfred N. Beadleston and Clifton T. Barkalow; G. Paul Kennedy, chairman of the Middletown Planning Board; Richard W. Seuffert, Middletown business administrator; Charles M.

Pike, executive director of the county Planning Board, and Melvin J. Kohn, assistant to the executive director of the authority. Bernard Goldsmith, chairman of the Holmdel Planning Board, told The Register he had not been invited to the meeting. He did not attend. It adds up! More and more people use Hie Register ads each issue because results come faster.

Advertisement. By ROGER E. SPEAR "What Is the season for the recent drop in American Telephone, and does this affect its growth standing? R.B. A. I don't consider- that the recent decline has altered Tele phones growth prospects.

It has simply placed a more reasonable price tag on the future outlook. One big reason for a recent drop in the stock SPEAR was distress selling. Last year the company offered shareholders right to subscribe to new stock. When shares are acquired through rights, investors can buy with a down payment of 25 per cent of the cost, with the broker carrying the rest. There were still many investors holding Telephone with only a 25 per cent margin and a lot of these people were forced to sell, when the price dropped and their equity was reduced.

Hold your Telephone. Its a sound stock which will do well for you over the years. Q. We own a house which we are now renting out, since my husband has been transferred to another state. The house carries a mortgage of 53,700.

We have enough in the savings bank to pay this off. Should we do this or should we Invest our money in stocks? M.M. A. You sound like a young couple on the way up. Under present circumstances and assuming that you are getting sufficient rent to cover your mortgage interest I advise you to leave your cash in the savings bank.

It is not at all a bad plan for people like yourselves to owe money, If your collateral is adequate. Inflation has been checked in this country for the time being, but It has never been halted for any long period of time. The dollars you owe now will most as suredly be paid off with much cheaper dollars 20 years hence. Ultimately, you should invest Kellcnyi (Continued) that the additional facility coupled with Forrestdale School could accommodate in excess of 1,130 students if classes were to include 30 or more students. The predicted limit of school population In Rumson is 1,200.

Four classes will be located in Fellowship Hall of the Rum-son Presbyterian Church next year. Permission to house the fifth outside class In Bingham Hall has been requested of Borough Council. The school board will pay the church $8,000 for use of Its facilities, plus a sum not to surpass $1,000 for repair to the septic system which has been strained since the addition of school use. Egg Market NEW YORK (AP) (USDA)-Wholesale egg offerings light on large and mediums and ample on balance. Demand active on large and mediums and light on smaller sizes yesterday.

New York spot quotations: Mixed Colors Extras (47 lbs. min.) 32-33; extras medium (40 lbs. average) 22-23; smalls (35 lbs. average) 17-18; standards 28-29; checks 35-26. Whites Extras (47 lbs.

min.) 33-34; extras medium (40 lbs. average) 23-24; top quality (47 lbs. min.) 33-36; mediums (41 lbs. average) 24-26; smalls (36 lbs. average) 17-18; peewees 14-15.

Browns Extras (47 lbs. min.) 33-34; top quality (47 lbs. min.) 33-35; mediums (41 lbs. average) 24-26; smalls (36 lbs. average) 17 18; peewees 14-15.

i will then go into Immediate study for an addition to the elementary system and the possible construction of a junior-senior high school. In other action the board: Set June 27 for the final meeting of the fiscal year and July 2 to receive bids for 1962-63. Employed s. Lucille K. Schusler as stenographer-typist to the board secretary at an annual salary of $3,300.

Commended Mrs. George S. Kinkade for secretarial services rendered during the year without remuneration. Announced it cannot take position on the Raritan Holmdel boundry question until officially notified of final action by the two townships governing bodies. Announced eighth grade graduation exercises will be held Monday, at 8 p.m.

in the elementary school. There will be 55 students graduating this year. Guest speaker will be Mrs. Frances Stern of Monmouth College. Reported enrollment as of May 33 was 609 elementary students Loose Barge Rams Jetty LONG BRANCH A barge loaded with 600,000 gallons of asphalt crashed on the Bath Avenue jetty here yesterday after breaking loose from a tugboat and, later, from a Coast Guard cutter.

Neither of the two men aboard was injured and. Coast Guards said, there was no loss of the liquid paving Bound from Philadelphia to Syracuse, the barge was owned by the Morania Oil and was moving in tow of a company tug. Lines broke under pressure of a 25-mile-an-hour wind three miles off shore and the barge moved inland swiftly. Chief Frank L. Bernhard of the Monmouth Beach Lifeboat Station, said a Coast Guard cutter from Sandy Hook got a line to the barge, but could not hold it When it hit the jetty, gashes were cut in its bottom.

Coast Guard and commercial tugmen expect to pull the barge off the etty today. A Dukw under Chief Bernhards guidance rode about 200 feet into the ocean to take the barge crew ashore. They were Michael Malik, 58, New York City, first mate, and Hans S. Hagen, Hauppauge, L. a seaman.

Assisting the chief were Roger Smith, Allen Davies and Gerald Longo of the Monmouth Beach station. Bands Units LONG BRANCH Bands and color guards from Fort Monmouth and the Lakehurst Naval Station, and two drill teams, the drum and bugle corps, and the twirler unit from the Boys Club of Asbury Park will be among marchers here in the Fourth of July parade. Ralph Damiano, grand marshal, announced last night that the line of march also will include units from Fort Hancock; Battery First Nike Missile Battalion, Middletown; 250th Quartermaster Battalion, New Jersey National Guard; Long Branch Fire Department and Civil Defense and Disaster Control Com Any local organizations wishing to participate in the parade are asked to have representatives at the meeting. Former heavyweigth boxer Rex Lane Is a freight handler for a Salt Lake City, Utah trucking firm. Two Named Acting Police Sergeants EATONTOWN The promotion of Patrolmen John A.

Bennett, and Marvin Fowler to the rank of acting sergeant, with sergeant's pay, was recommended by Councilman Edward O. Clark, chairman of the police committee, and approved by Borough Council last night. Mr. Clark said that, in view of the good records of all the five full-fledged patrolmen on the force, the promotion had been awarded on the basis of a written examination given under supervision of the state police. Sgt.

Bennett is 35 years old and has served on the borough police force since August, 1955. Sgt. Fowler Is 30 years old, and has been on the force since May, 1958. Mr. Clark said that In the near future, following consolidation of various borough police ordinances, the post of police lieutenant may be created and filled.

2 Firms Join Chamber In Red Bank RED BANK Two new local firms have joined the Red Bank Community Chamber of Commerce it was announced yesterday at a meeting of the board of directors. The new members are Rocco Santangelo, proprietor of Peoples Liquors, Shrewsbury and Angelo Claglia of Angelos Trucking 12 Rector PI. Robert Viscount, of Cruttenden Podesta, Linden who is commodore of the National Sweepstakes to be held here July 7 and 8, said the eastern divisional championships will be held here this year. He said an estimated 100 boats will compete. The budget for the races Is $8,100, Mr.

Viscount said. The Greater Red Bank Junior Chamber of Commerce is trying to raise a portion of the needed funds through the sale of advertisements for a program booklet, he said. Francis J. Bolduc, executive vice president of the community chamber, announced to members that a one-day retail management institute will be held at Monmouth College next Tuesday, June 19. He said the session is being held through the co-operation of the Central Jersey Bank and Trust Co.

He pointed out that the institute will not be limited to retailing subject matter. Beginning next Monday at The Hun School, Princeton, a one-week program entitled "Lectures and Conference of Economics, Political Science and Oral Communication will be held under the sponsorship of the Tuller Foundation for the Advancement of Economic Understanding in Cooperation with Young Americans wil be held, he said. MIDDLETOWN ACCIDENT MIDDLETOWN Two drivers were slightly injured yesterday afternoon as a result of an accident on Hartshorne police reported. They were listed as Carol L. Weis, 23, of Wigwam possible head injuries, and Theresa D.

Gray, 25, of 8 Chapman knee injuries. Police said both drivers indicated they would see their own doctors. CROAD ST. CMnnivcPimv a i wwUu I 1 be released at a public hearing Friday, June 29 at 8 p.m. In the elementary school.

The Board of Education set the hearing date last night. Harry D. Pitcher, board president, announced brochures will be available which will present the recommended building program and staff needs. No details of the report were discussed by the board last night although It received and discussed a preliminary summary Monday night in a conference meeting. Mr.

Pitcher also announced the board has completed its on-the-job interviews of architects interested in the townships future school building program. A total of 13 schools under construction, representing 12 architects, were visited by board Card and Cash Ywr.it Gradnate RED BANK A congratulatory card and cash gift await a high school graduate named Judy. The reason Judy hasnt received the greeting is that James A.G. Wise, superintendent of mails here, found an envelope unaddressed and unsealed at Linden PL and Broad St. Mr.

Wise says that If the senders or Judy offer satisfactory Identity, the card and cash are available at any window In the Red Bank post office on Broad St. A note on the card reads: Judy Dean Ure are very proud of you, and the record you have made, dear. Auntie Hayes and Auntie Ma. Calls Joint Session Of Industry Units FREEHOLD TOWNSHIP Mayor Albert V. McCormick called for a joint meeting in the near future of the township and borough Industrial Committees.

The mayor said at last nights meeting of the Township Committee that he had been requested by the Greater Freehold Chamber of Commerce to call for such a meeting of the two five-member bodies to show that the Township Committee supports the groups. The major said the committees, which is made up of topnotch representatives, were organized to aid in attracting industry to the area. Township Attorney Arnold Tanner said that the fire and building code ordinance, embodying the national building code, would be ready for introduction at the June 27 meeting. A contract was awarded to C. H.

Sutphen, Freehold Township, for $42,883.16, the low bid, for the yearly road repair work. The final awarding of the contract is subject to the passage of a financing resolution. A major subdivision was granted to Charles Hall for five lots on a newly proposed street to be called Brookwood which will intersect Glendale Dr. Mayor McCormick stated that State Sen. Richard R.

Stout had notified him that he would try to obtain $11,700 In state aid Never have your Scotch dollars boeght so much for so little. Not just because cf the special temporary price concession (you get a Full Quart at a price found on many premium Fifths) but in discovering you've bought a finer Scotch than yon ever drank before! Just try it Youre sure ta agree it's not only The Worlds Lightest Scotch, but the most palatable, as well crowning achievement of one cf Scotlands1 giant distilleries (founded in distilled, blended and bottled by its own skilled whisky a surety cf I unvarying quality, whether you buy it today, or in years to come. Just try Ambassador Deluxe. We're sure youll make it your favorite Scotch ever after. NOW AT THIS GREAT SAVING AT YOUR FAVORITE PACKAGE STORE mittee, and all Long Branch vet- toward the repaving of .8 mile olerans units.

Gravel Hill Rd. Mayor Thomas L. McClintock The committee decided to setis general chairman for arrange-up a meeting with the Municipal ments. The committee in charge Revaluation Ridgewood, for will meet Tuesday at City Hall. We Reserve the Right to Limit Quantities mi ALSO in limited quantity.

Fare, aged 12-year-old and 25-year-cld Ambassador, the famous liqueur Scotch served at the finest Ears, Dining Spots, snd Clubs, is new being allocated in limited quantity to leading Jersey liquor stores. Ask your Cea'er. BCENOED SCOTCH WHISKY C3 PROO QUALITY IMPORTERS INC NEW Y. litj i liiifil June 22, to acertain what progress is being made on assessments. A moment of silence was observed for former Township Committeeman William F.

Week who d.ed May 18. Mr. Weck served on the committee from December 1953, to January, 1961. ri: 13 7-E555.