Garden City Telegram from Garden City, Kansas on July 24, 1963 · Page 4
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Garden City Telegram from Garden City, Kansas · Page 4

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Garden City, Kansas
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Wednesday, July 24, 1963
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Page 4
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editorials Page 4 (jardftt City l>l<»ftrnm Vfedncsdoy, July 24, 1963 Dr«w Pearson Repx»fts A/o P/ace /or Softies f~\n the markers now are de-seeded half-cantaloupes, ready for the table onoe the transparent wrapping is removed. This may be proprras, but it hna one recalling lhe decline and fall of the Homan Kmpire. On the one hand we American* never had it so good. On the other, perhaps we have it much better than really i« good for us. We can't even bother to hrUve and remove the seeds from a cantaloupe. We eat complete meals which require no more preparation than a few brief minutes in the oven. We dote on hamburgers to save our teeth the effort of nuutticating whole meat. We have so pre-prepared our food thai the greatest remaining kitchen twk in to remove things from cellophane wrappers, since even the can opener is powered. We have electrical gadgets to brush our teeth and shine our whoes. We enjoy extravagantly complicated, long and heavy cars for use in journey's involving more than a block. We adjudt our indoor heal to meet the demands of any season of the year with the flick of a switch. We increasingly have machines not only to do our jobs, but even to do our thinking for us. It's a soft life. Maybe dangerously so, bocau.so the world as a whole remains no place for softies. Sound Management City ia in a sound fiscal position. This is the story in a nutshell delivered by the city nwnajrer in a detailed report of the city's financial status. It doesn't mean that unlimited funds are available to meet the many needs at this growing community. Now is the city debt-free. But thanks to municipal ownership of electric and water utilities, and to the Gardendale housing project, this city ha« built up sizeable reserve funds upon which it draws to finance tile many street and sewer projects necessary to serve tho spreading urban area. This saves the interest on borrowed funds which would be necessary if these reserve monies weren't available. Those funds also have been the source to pay for the off-street parking development, and other improvements. Of course, credit is due those in the city administration who are concerned with efficient government. They are doing a good job in handling our fisca/1 affairs. Uli ie THE SECOND round of Red Cross free swimming and life-saving classes gets underway this week; and if it's as successful as the session just completed, the town Avill have another poo-lful of new and or improved swimmers. Beth (Mrs. Doug) Tedrow, young mother of one, who runs the program sayte the session just over probably was the most satisifattory of any she has known about here. And she's been with the program a number of years — as volunteer instructor during her high school and college days and as over-all supervisor the iwiflt three or four years. She is water safety chairman of the Finney County Red Cross diopter. •*- * i THE FIRST session enrollment was somewhere between 750 and 800. . .it's a little hard to arrive at a definite roll call for free, summer classes — some enroll and never show, others drop out without notice, and some come late. More than 550 are signed up for the second term which will last four weeks. The large enrollment for Che new session can be handled all right, Beth said, because nearly all of the young, volunteer instructors iwve agreed to stay on. •*• * * THE WEATHER (hot and mostly dry) contributed to the success of the first session, the swim school director said. "We had fewer beginners who were afraid of waiter, to*»| and a surprising number of firslt-tinie students passed the beginning class — often it takes two or three summons. w * * ADVANCED CLASSES such as Swimmers and Junior and Senior Life Saving have been crowded where once they attracted only handfuls of dedicated water sprites. Close to 60 have enrolled for the junior life saving course that starts this week. "This will mean more well-qualified, capable swimmers in the community — and more instructors for the Red Cross program/' Beth said. Postmaster Day Picks Prospects d. h. Cabinet Splits Over Taxing Stocks, Bonds They'll Do It Every Time By Jimmy Hatlo N iURSlN6 A BLUE-RIBBON BAN6OVEP-IT TOOk AN ACT OP CON6RESS TO 6ET LUSHWELLtO HIS DENTAL DATE—- WASHINGTON - Tliorc w a s more than met the eye behind JFK s sudden recommendation of a U.S. tax on the foreign slock and bond Issues floated in this country. In taking the step ho ran counter to his own Secretary of the Treasury, Douglas Dillon who once Was hoad of one of the blRKo.st Wall Street investment firms which floats foreign set-unties. There was no cat-ami-dog fight over the tax. Secretary Dillon, though a Republican, is a loyal member of the Kennedy team. Nevertheless, the tax on foreign issuen was propose:! four months ago, and nothing happened. First proposal wag made to thn President by Rep. Wright Patman, the Tcxarkana, Texas, Democrat who heads the House Banking and Currency Committee- and is a ncttlcr for small business. During a talk with Kennedy last March, Patman warned of the disastrous effect on the economy if the federal reserve raised interest rates in order to check the gold outflow. Instead Pntman urged a tax on both foreign stocks and bonds floated in the United Stales, and on American direct investments by U.S. business firms in foreign countries. Kennedy asked Patman to write him a lelter on the subject ami wag so impressed with the letter that he had it memeo- graphed and sent it to Secretary Dillon and other financial advisers in the administration. The Treasury, however, d i d nothing. It claimed the tax would upset the investment market. Undersecretary of the Treasury Robert V. Roosa did talk to key members of the Ways and Means Committee, which writes the taxes, and later reported that the committee was unonthusiastic. Meanwhile the drain on the dollar continued. Chrysler sent $100,000,000 to France to complete the purchase of Simca stock. Dillon Reed, the old firm of Secretary Dillon, helped float stock and bond issues for Japan Development Bank, $21,700,000; Hitachi Ltd., of Japan, $20,800,000; City of 'Milan, $9,700,000; Government of Norway, $12,000,000; Dai Nippon Printing Co., $j,000,000; Nippon Telegraph and Telephone, $20,000,000; Austrian Investment Finance Co. $5,000,000. There were various other issues handled by other Wall Street houses, ranging from Quebec Hydro-Electric for $300,000,000 to Ihe Republic of Panama $9,000,000; and from Manitoba Hydro- Electric for $25,000,000 to the City of Montreal for $25,000,000. The gr e at majority of these is sues were to Canadian, Mexican or other friendly allies and neighbors, so the Treasury, understandably was opposed to making the money market more difficult for them. On July 10, however, with the drain on the dollar continuing, the Joint Economic Sub-Committee, under the chairmanship of Rep. Henry Reuss, D-Wis., called Secretary Dillon. "The committee in the past has recommended thai we make foreign access to our 'new issues' market in Wall Street more difficult and more expensive, either by screening or by taxation'," Reuss said. "The administration has rejected this recommendation. What are the reasons?" "I think I expressed the reasons rather fully regarding the difficulties of exchange controls," replied Dillon. "I don't think I can add much to that. We don't feel that a partial exchange control would work." However, Reuss, Wright Patman, and Sen. Paul Douglas, DUK, kept up the pressure. The White House decision to recommend his tax took place at a closed door meeting July 15 which included the President, Dillon, Chief Economic Adviser Walter Heller, and William McChesney Martin, chairman of the Federal Reserve Board. Three days before, Martin had raised thn federal reserve rediscount rate, and Kennedy was was alarmed that this would cause tight money and put a brake on business loans and the general economy. H e called Martin in to make sure there were to be no more interest rates hikes. It seemed obvious that either there would hav u to be further interest hikes to stop the drain on the dollar, or a tax on foreign issues floated in Wall Street. Dr. Heller argued in favor of the latter. Secretary Dillon at this point agreed. Note — Secretary Dillon, a man of high integrity, had no conflict of interest in taking his original position. He resigned as chairman of Dillon Read and Co., when he entered public service in 1953. Dick Paul, son of the Treasury's famed tax expert in New Deal days, Randolph Paul, played a big role in the recent SEC report urgining stricter regulation on Wall Street . . . Jimmy Cromwell, one-lime ambassador to Canada and now chairman of Iho American Really and Petroleum Corp. is pushing for a code of ethical conduct to protect the public on Western and Florida land development Jimmy has a development of his own, R i o Rancho estates, about the size of Brooklyn outside of Albuquerque, doesn't like lh e bad reputation some unethical developers have given to the legitimate developers ... The seeds of friendship planted by Lyndon Johnson in Pakistan two years ago are still sprouting. In addition to bringing back the famous Pakistani camel driver, Lyndon raised a fund for lhe son of Tom O'Halloran, chief photographer of Newsweek, killed in an auto accident while the Johnson party was in Pakistan. The fund was used to rehabilitate a local Paki found injured in a ditch. He was given an artificial leg and trained to be a barber. The "Barber of Karangi' lias now become a No. 1 booster for the U.S.A. , you MUST.' vou RAM OUTOM HIM LIST WEEK/ GET UP AND 6ET GOING// HE'S ALWAYS Busy- < PROBABLV ONLV BE A / PEW MINUTES BUT,LUSMWELL- \ > DU-DU-DENTAL APPOINTMENT? MY GOSM.'N-NO-I COULDN'T/ CU-CU- CALL HIM UP AN' CANCEL- _ H'UO HAT TV DS.LVUD.VWUER, s^lcofjm'iF. BUT WHAT WAS THAT ABOUT THE WORST IS VET TO COME ?• 6IV£ A LISTEN TO THE HAPPY MOLAR MAN- OIVES US TWO HOURS ON 7VIE EROSIOM CAVITIES IN BICUSPID Garden City Telegram Published Daily Except Sunday and Five Holidays Yearly By The Telegram Publishing Company Telephone BR 6-3232 117 East Chestnut (till Brown Man in Smith Editor Advertising Mnn»R,;» -Whether buying 01 selling, use Telegram Want Ads! TERMS OF SUBSCRIPTION By carrier a month In Garden City, $1.BD. Payable to carrier t:i advance. By earner In other cities where service is available, :iOc per week. By mall to other addresses In Finney. Lane, Snott. Wichita. Oroc-lpy, Hamilton Kenrny, Grant Ilaskel and Gray counties. $9.00 per year; elsewhere $15.00 yer year. Local and area college students, $5.00 for U-month school year. Second cluas postage paid, at Garden City, Kansas. If Telegram motor carrier service ts required to have publication-day delivery by mall In cities that bav« local carrier service, local carrier rate* Store Intruders Take Their Whisikey Near ST. PAUL, Kan. (AP)—The intruders at a liquor store in St. Paul took their whiskey neat, Mrs. Maxine Crager. the operator, told Ncoslio County Sheriff George Neely the robers took a dozen fifths of whiskey along with a small amount of cash. Mrs. Crager said they entered by prying a pane of glass from a window but neatly replaced it as they left. TOPEKA (AP) — Postmaster General J. Edward Day said at a press conference in Topeka Tuesday he believes Sen. Barry Goldwater of Arizona, Ciov. George Homney of Michigan and former Vice President Nixon are the top prospects for the Hepubli- can presidential nomination in 1964. Day, who was in Topeka overnight, wa s to addres s a breakfast meeting of mail users today and then go to Atchison for the issuance of an Amelia Earhart commemorative stamp. He predicted Nixon may make a strong bid for the GOP nomination. He said: "In the deep split between the conservatives and the 'me too' Republican faction, there is only one man who can satisfy both elements of the party—Nixon." The cabinet member seid he believes that, based on present trends. Goldwater wou&i carry a number of traditionally Democratic southern states, At an informal dinner In his honor Tuesday night, given by Uie State Democratic Committee, Day sharply criticized Goldwater conservatives. He asserted: "The Republican arch-conservatives are basically believers in the old 'survival of the fittest' ap. proac'li to social and economic problems. "They have a deep seated fear of the rank and file, of the common man, of the run-of-the-mill American. "It i s just this kind of distrusi that characterises the thinking of Sen. Goldwater and his reactionary following which now dominates th e Republican Party." Yellowstone National, Park contains ti.e largest and most active geyser region in the world. There are about 3,000 geysers and hot springs in the park. Thles StlecN-Only at Ted's Such Fine Beef! CHUCK ROAST u43c Grade A. Cut Up FRYERS •» 35c Thies Select—Only at Ted's Such Fine Bsef! T-Bones or Sirloins Lb 95c Lean Tender MINUTE STEAKS u 89c Boned, Rolled Shoulder PORK ROAST u 47c Cool, Refreshing WELCHADE 2 SL 69c Frozen, Ore-Ida French Fried POTATOES Freeze 'em For The Kids KOOLPOPS 9-Oz. Pkg. l OC Pkg. of 8 <•• 7 C Scott PAPER TOWELS 2., 45c Pkg. of 48 8VC Dixie, Hot Drink CUPS Ml Flavors Strained BABY FOOD 4 6-12, Aerosol INSECT REPELLANT Shurfine, All Purpose FLOUR 5£ 39c Shurfine, Frozen LEMONADE 6'£s65c Crisp Golden CARROTS CeHoBag 9C Calif. Sunkist LEMONS LgSkeDoz 29 C All Purpose RED POTATOES 10 £ 9 49c Prices Effective Thursday • Friday - Saturday TED'S MARKET 511 N. 4rh Street WE DELIVER ^TABJT^ TUIBDCnA V II 81 V ^CAlt Exceptional values slorewide of fine clothing, «9 I Ml\ 1^1 nim31/M I f JUL I ^3?n hats, furnishings. Not all stock included. SUPER VALUES BE EARLY FOR THESE—ONE FULL RACK Summer styles. Cotton and Dacron, neat patterns and bright patterns. In styles for men, college men and high school men. STRAWS Reg. 2.95—$2.21 Reg. 3.95—$2.95 Reg. 5.00—$3.75 Reg. 8.95—$5.75 Limited Pairs— Florshefm SHOES Discontinued Styles Not All Sizes $ Values to 24.95 pr. BERMUDA Reg. 4.95 Sale $3.96 Reg. 5.95 Sale $4.76 SWIM TRUNKS Reg. 3.95 $2.63 Reg. 4.95 $3.30 Reg. 5.95 $3.99 Nice savings on men's better summer suits! You'll find the best selection ever . . . shorts, regulars and longs. Also includes young men's ivy styles. Not all stock included. .. Mens' and Young Mens' Short Sleeve Regular or Button-Down Collars. Reg. 4.00 now $2.95 Reg. 5.00 now $3.75 Reg. 5.95 now $4.46 Reg. 6.95 now $5.21 Men and Young Men's summer slacks inqjudes pleated, plain front, ivy and continental models in both wash 'n w<sar and fine Dacron and wool blends. Very good selection. Reg. 8.95 Sole $6.71 Reg. 9.95 Sale $7.46 Reg. 10.95 Sale $8.22 Reg. 12.95 Sale $9.71 Reg. 14.95 Sale $11.21 Reg. 15.95 Sale $11.96 Reg. 16.95 Sale $12.72 Reg. V7.55 Sale $13.46 DRESS STRAWS Reg. 2.95 $1.95 Rec. 4.95 $3.75 Reg. 3.95 $2.95 Reg. 6.95 $4.50 Save On Nationally Known Brands At--- SHORTY PAJAMAS Re?. 2.95 $2.21 Reg. 3.95 52.95 Reg. 5.00 $3.75 Reg. 5.95 $4.46 DOORWAY TO A MAN'S WORLD Garden City—The Garden Spot

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