Carroll Daily Times Herald VOL. 98—No. 255 Return Postage Guaranteed Carroll, Iowa, 51401, Monday, October 30, 1967—Eight Pages Delivered by Carrier Boy Each Evening fol 50 Cents Per Week Iflc IU C Copy As Planes Blast Targets in North- U.S. Troops Smash Red Unit Near the Cambodian Border SAIGON (AP) — U.S. infantrymen surprised a Viet Cong company near the Cambodian border today and it was all but wiped out by artillery, napalm and aerial bombs, a military spokesman reported. A spokesman for the 1st Infantry Division said it was believed 80 enemy troops were killed in the battle about 72 miles northwest of Saigon near where a furious 14-hour battle raged Sunday. U.S. losses were put at three dead and three wounded. In the air war, U.S. fighter- bombers carried their furious campaign against the heartland of North Vietnam through its sixth straight day Sunday, battering targets near the chief port of Haiphong. Racing against the approach- ing monsoons, Navy pilots hammered the Cat Bi MIG air base, the Chi Lai transshipment point, and a barge repair yard that was hit for the first time. All were within seven miles of the center of Haiphong. A spokesman said the weather was beginning to close in over North Vietnam, which will provide a protective blanket, but Navy pilots were able to mount strikes along the coast. North Vietnam claimed three U.S. planes were shot down, but the U.S. Command made no report of any losses. Since the heavy raids on the Hanoi- Haiphong area began last Tuesday, the U.S. Command has announced the loss of 15 planes and 16 fliers. There was also no confirmation of a Hanoi claim that a B52 strategic bomber was shot down Largest Hovercraft— —NLA Radio-Telephotos World's largest hovercraft, four times bigger than any model to date, was rolled out at the British Hovercraft Corp. plant on England's Isle of Wight. Called the SRN4 and costing about $4,200,000, the 165-ton craft will be capa- ble of making the Dover - Boulogne Channel crossing in 35 minutes at up to 70 m.p.h. when it goes into service next year. Capacity is 254 passengers and 30 cars. Concentrated Buying, Selling Changes Character of Market By JOHN CUNNIFF (AP Business Analyst) NEW YORK (AP) — A concentration of power among mammoth and growing institutions such as mutual funds is now tending to accentuate stock price changes in a manner reminiscent of the outlawed pools of the 1930s. This concentrated buying and selling, which is entirely legal, has fundamentally changed the character of the stock market, an Associated Press study has found. Federal officials, though deeply concerned, seem to be stymied by a lack of funds and outdated regulations in their investigations of this concentration. Nevertheless, the shift from a marketplace of random public orders to one more nearly dominated by sheer power appears to account for much of the wide, wild and sometimes destructive price swings and heavy volume of today's market, the study suggests. Amidst this heavy volume, the very definition of the word "in vestment" as contrasted to "speculation" has become pb scured by mutual funds which buy and sell stocks within weeks in their quest for "perform ance. Illustrating the changed conditions are these facts: 1. Mutual funds now control 20 to 30 per cent of the shares of many large corporations, and one-third the value of all shares on the New York Stock Exchange is owned by mutual and pension funds, insurance companies, endowments and bank- administered trusts. 2. More blocks of 10,000 shares Wind Rips City, 2 Dead, Many Injured GULFPORT, Miss. (AP) — High winds from either a tornado or waterspout smashed viciously into this Gulf Coast city today, killing at least two persons and injuring scores of others. The Mississippi Highway Patrol unit at Gulfport reported the two fatalities and said some other people were missing. The U.S. Weather Bureau Storm See Page 7 The Weather or more, jndicating institutional buying and selling, have crossed the New York Stock Exchange ticker tape this year than in all 1966. In September alone there were more than 570. 3. Mutual funds are turning over their portfolios at the rate of 40 per cent a year. Several performance funds have rates much higher than this—as much as 100 per cent and more a year. This institutional speculation, William McChesney Martin told the 175th anniversary celebration of the New York Stock Exchange this year, not only is poisonous but could end disastrously. Martin, Federal Reserve Board chairman and a former exchange president, suggested that "this cult of short-run market performance" compares in some ways to the outlawed pools, in which traders created activity to attract buying and push up prices. "Anyone who invests must realize it is a different business than it was 15 years ago," said Ted Lyman, senior vice president of Putnam Management Co., which administers several large funds. Lyman refers to individual investors—those who purchase stocks directly rather than through mutual funds—as "do- Thousands Flee From Brush Fires LOS ANGELES (AP)-Thousands of Southern Californians fled from an inferno of wind- driven brush fires today which swept an expensive hillside residential area. California Division of Forestry officials said 15 homes were known destroyed in the Lemon Heights area southeast of Los Angeles. Flames threatened some 1,000 other homes, they said. "It looks like another Bel Air fire," said a firestry spokesman, referring to the devastating 1961 blaze which destroyed 450 homes in an exclusive northwest Los Angeles district. The Bel Ah- homes, all $50,000-plus residences, were turned into cinders in a 12-hour-long holocaust. The flames today swept down from the Santa Ana Mountains into several Orange County residential areas in the foothills. Most of the engulfed homes were in the $40,000 to $50,000 range, firemen said. An estimated 4,000 persons were evacuated from a thous- sand homes in the Lemon Heights area shortly after dawn. • just north of the demilitarized zone Sunday. In the 28 months the big high-altitude bombers have been attacking in Vietnam, none has been shot down but four have collided in the air over the sea and crashed and another crashed at Da Nang while making emergency landing with two of its eight engines out. In the ground war in South Vietnam, U.S. and South Vietnamese forces beat off an attack by about 1,000 Viet Cong on a rubber plantation 70 miles north of Saigon after nearly 14 hours of fighting. The U.S. Command said 145 enemy soldiers, 3 Americans and 14 South Vietnamese killed, while 19 Americans and 37 South Vietnamese were wounded. New Nurse Look— Florence Nightingale would never recognize her 20th- century sisters in these new culotte uniforms. The very newest look for British nurses, not necessarily including motor bikes, was previewed at the London Nursing Exhibition. The fire was the worst of two which have blackened an estimated 30,000 acres since Sunday. That surpassed the 26,000- acre swatch cut two weeks ago by a series.of brush fires north of Los Angeles. The major fire continued to burn in a southwesterly direction toward the more heavily populated suburbs of Orange. Meanwhile, the other fire in aljacent Riverside County swept down from the San Jacinto Mountains into the San Jacinto Valley. Authorities said "several structures", were involved at the Oilman Hot Springs. The vjllain in the fires, at least in part, was termed the •Santa Ana wind, which annually every fall blows its hot desert-spawned breath over tinder- dry Southern California forests and brushland. Other ground action was reported light and scattered. As security precautions intensified in Saigon for the inauguration Tuesday of President- elect Nguyen Van Thieu, he welcomed Vice President Hubert H. Humphrey and special representatives from 21 other countries at Independence Palace. Thieu, welcoming the visitors, said his country "is on the threshold of a crucial but promising period" that could prove decisive in the war. He said peace would come to South Vietnam when Hanoi recognized that the South will become militarily and politically stronger. Humphrey, speaking on behalf of the foreigners, said: "We recognize the importance to all of us of the work you are doing to build a responsive, constitutional government willing and able to serve the people of your nation." Navy, Air Force and Marine pilots flew a total of 111 missions against North Vietnam Sunday. Air Force pilots who struck three to seven miles north of the demilitarized zone reported destroying seven Communist artillery pieces and damaging another six in raids to counter what appears to be a resurgence of the artillery attacks on U.S. Marine outposts just below the DMZ. U.S spokesmen said the Marine posts took 227 rounds of artillery and mortar fire Sunday that wounded 15 Marines. Soviets Dock Two Unmanned Craft MOSCOW (AP)-The Soviet Union said today it had successfully joined together in orbit two unmanned spacecraft—another first for Russian space scientists. Cosmos 186, launched Friday in what appeared to be a test of an unmanned spacecraft of FIVE-DAY IOWA FORECAST Temperatures for the five-day period ending Saturday should be about normal. Highs normally range from 52 to 57 while normal lows are from 30 to 37. It should be warmer as the period begins, cooling Thursday, then turning warmer again as the weekend approaches. A few showers were forecast for Wednesday or Thursday but precipitation should average no more than one-tenth of an inch. IOWA FORECAST Rain ending southeast late Monday. Generally fair Monday night and Tuesday. Cooler southeast Monday night. Lows upper 20s northwest to 30s southeast. Warmer Tuesday highs in 50s. CARROLL-NORTHWEST Clear and little colder Monday night. Lowest in lower to middle 20s. Tuesday sunny and warmer highest in lower to middle 50s. Chances of precipitation less than 5 per cent. The Weather in Carroll (Daily Temperatures Courtesy of Iowa Public Service Company) Yesterday's high 46 Yesterday's low 37 Stocks See Page 7 ..35 ..40 Ait 7 a.m. today At 10 a.m. today Precipitation (24 hours prior to 7 a.m.) 30 inches of rain Weather A Year Ago- High temperature a year ago today in Carroll was 59; the low, 28 degrees. Youth Dies in Fire, 4 Burned OTTUMWA (AP) — An Ottumwa youth has died and four members of his family suffered burns in a fire at their home here Monday morning. Authorities found Mike Cullinan, 14, dead from severe burns in his bedroom in a fire that broke out shortly before 2 a.m. Injured in the blaze, which apparently started in a floor furnace, were the boy's parents, Mr. and Mrs. Daniel Culliann; a sister, Catherine, 9, and a 12- year-old brother, Pat, who was Priority to Wage Parity DETROIT (AP)—The United Auto Workers, negotiating with their No. 2 strike target, Chrysler Corp., are expected to press for "the only major thing" they didn't win from their No. 1 target—equal pay for Canadian and American workers. "Canadian wage parity is going to be a very crucial issue in these negotiations. It's a top priority item," Douglas Fraser, UAW Chrysler department director, said after the union decided to take the contract won from its No. 1 target, Ford Motor Co. to Chrysler before going Seven Carroll Musicians Win All-State Places Seven high school musicians from Carroll won places Saturday on the All-State groups which will rehearse and perform Friday and Saturday, Nov. 24-25, at KRNT Theater in Des Moines. Try-outs for the Carroll area were held at Lewis Center School, Council Bluffs. Instead of being judged as a quartet as formerly, vocalists were judged as individuals. Carroll High School won four places on the All-State chorus — Barb Peterson, alto; Joe White, tenor; Andrew Peterson and Steve Moore, both bass. Kuemper High School won one place on the All-State chorus, and two on the All-State Orchestra — Barbara Burg, alto; Mary Brenny, violin, and Katie Wounds Hostage; Kills Self CLEVELAND, Ohio (AP)—A disappointed suitor shot himself to death today after wounding a young bride he held captive at gunpoint over the weekend in his third-floor suburban apartment, police said. Robert Batch, 23, was dead on arrival at Doctors Hospital, a bullet wound in his heart. Lida Caldwell, 19, was wounded in the chest and taken to surgery where doctors reported her in reasonably good condition. University Heights Police Sgt. Chris Schoupt said Batch's mothey, Martha Smith of Johnstown, 'Pa., talked to the boy from his kitchen and told him she loved him and would protect him. "We heard two shots and we rushed in," Schoupt said. Cleveland detective Capt. Patrick L. Garrity said when he entered the bedroom, the girl was still standing, although wounded. Garrity said Batch was lying on the floor, the gun in his hand. Both Batch and Mrs. Caldwell were carried from the home on stretchers. Police said Batch had refused he Soyuz type that carried a Soviet cosmonaut to his death ast April, and Cosmos 188, launched today, joined in orbit, an official announcement said. It termed the operation an "automatic docking" and said it had occurred at 12:20 p.m. Moscow time. The announcement said the two satellites were coupled rig idly and were continuing the orbital flight with all systems and equipment functioning normally. The United States has carried out successfully a docking by a manned satellite. The operation was an obvious preparation for what the Soviet space program has long been expected to do next in manned ventures: join together craft in orbit to form space platforms. When Soyuz 1 went up last April, reports in Moscow said it was supposed to be joined by another craft. But something apparently went wrong before the final crash that killed cosmonaut Vladimir M. Komarov. The docking operation was proved successful, the announcement indicated. It said computers helped to bring the two devices together. They sent television pictures Science Prizes to Four STOCKHOLM, Sweden (AP) — The Swedish Academy of Science today awarded the Nobel Prize in physics to Prof. Hans A. Bethe of Cornell University and the chemistry prize jointly to Britons George Porter and Ronald George Wreyford Norrish and German Manfred Eigen. Bethe was awarded th« prize in physics for his contributions to the theory of nuclear reactions and especially his discoveries concerning the energy production in stars. The British-German trio was awarded the prize for "their studies of extremely fast chemical reactions, effected by disturbing the equilibrium by means of very short pulses of energy," the academy's citation said. Porter is attached to the Royal Institution in London and his British colleague lives in Cambridge. Eigen works at the Max Plank Institute of Goettingen. Eigen receives one half of the $62,000 prize while the two Britons share the other half. Bethe, 61, was born in Alsace while it was German territory and started his academic career in Germany. Forced to leave when Hitler came to power, he spent two years in England and went to Cornell, in Ithaca, N.Y., in 1935. Since 1937 he has held the chair of theoretical physics at Cornell. The physics prize is the third of the 1967 Nobel awards to be announced. The prize for literature went to Guatemalan novelist- diplomat Miguel Angel. Asturias Oct. 19 for his epic novels about Nobel .... See Page 7 Bandit,17, Shot by Wife of Grocer DES MOINES cer's wife shot (AP)—A gro- a 17-year-old youth in the chest Sunday as he and another teen-ager attempted a holdup, police said. David Wright of Des Moine* underwent emergency treat* ment at Mercy Hospital for a .22 caliber bullet wound in th« left side of his chest. back to earth, ment said. the announce- Hostage See Page 7 It added that the docking meant large orbital stations can be constructed as the base for reaching other planets. A space station would have the advantage for starting a major space trip of being outside the earth's gravity. A rocket could be assembled on it and then get more value from its thrust than a rocket which has first to blast loose from the earth's powerful hold. Police said other youth, Wright and a juvenile, the appeared as Mrs. Paitricia Reid, the owner of Midget was locking the front wife of Market, door. The bandits forced her to open the door and as the three entered Mrs. Reid pulled a .22 caliber pistol, wheeled and fired, according to police. Wright was found about 15 minutes later, lying on the sidewalk about three blocks from the market. The other youth was arrested later and police were holding him for questioning. Reibold, cellist. Also trying out were Becky to General Motors. After the Ford agreement, hospitalized with severe burns. Nov. 15 Walter P. Reuther, union president, said Canadian wage parity was "the only major thing we didn't win." The UAW contract at Chrysler's Canadian firm runs out Blake, Paula Baker, JoEllen Severin and Kenny Kieck, all Carroll High School; and Bonnie Naberhaus, Peggy Hoehl, Tom G r o n s t a 1, Dave Soyer, Linda Sapp, Steve Berger, Jim Rothmeyer, Monica Balk, Debby Nees, Dave Rohner and Ron Halbur, all Kuemper High School. Roger Hansen, vocal music director at Carroll Community Schools, was an official at the All-State vocal at Humboldt. audition center Late News Off AP Wire UNITED NATIONS, N.Y. (AP) — The 10 nonpermanent members of the U.N. Security Council, split between two proposals, tried today to agree on a plan the council could adopt to send a peacemaker to the Arabs and Israelis. One major difference was over wording of instructions to the proposed U.N. special representative concerning withdrawal of Israeli troops from captured Arab lands. HUMPHREY ARRIVES— SAIGON (AP) — Vice President Hubert H. Humphrey made a whirlwind visit to South Vietnam's embattled countryside to- dy and praised a Vietnamese official who told him corruption is hurting one of the major government programs aimed at winning the war. "Here's a man that can talk frankly and openly, which is exactly why Americans are here, so that the Vietnamese people can speak freely," said Humphrey of Maj. Nguyen Be, the commandant of the Revolutionary Development Training Center at the seaside resort city of Vung Tau. TAX HEARING- DES MOINES (AP) — Private parking lot operators and lawyers for the Iowa Tax Commission will be on the same side Monday in recommending that city-owned lots pay the three per cent service tax. The commission was scheduled to hear the matter this afternoon. The League of Iowa Municipalities has filed a brief in opposition to the tax. Among its arguments is one claiming that it is virtually impossible to collect the tax on meters. JVAR POLICY CALL- WASHINGTON (AP) A call for Congress to stay in session until it deals with the question of war policy in Vietnam was sounded today by three House members. The suggestion from Reps. Paul Findley, R-I11., F. Bradford Morse, R-Mass., and William L. Hungate, D-Mo., comes at a time congressional leaders are predicting that with a little luck the 1967 session could wind up around Thanksgiving Day. "Our men in Vietnam cannot adjourn the war," Findley said, "and I do not think the Congress should adjourn until it has dealt squarely with the question of war policy." The 3 are among 57 House sponsors of a resolution calling for congressional hearings to determine if "further legislative action is desirable in regard to Southeast Asia policy."
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