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The News and Observer from Raleigh, North Carolina • Page 4
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The News and Observer from Raleigh, North Carolina • Page 4

Raleigh, North Carolina
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"How Dare You Disregard Our Instructions!" Will Saud Stay Pleased? THE WASHINGTON Merry-Go-Round -IS- THE WAV OP THE-a TRANSGRESSOR The News end Observer "THH OLD RRUABLE" fuWlah Ivtrr Mnrninj In lh Vf bj THE NEWS AND OBStRVER Pt'BUSmNQ COMPANY I advlia nd tntoln Ihmt who dirM Iht rr In tha tnmoirciwi nvr to aJvocat any tiiH lor pratml prnttl or prefarmmt 1 would with it alwayi (a bt "lha toron" and vrf to th pohrin of qunhty ind iniro tn lh onclfrprtvilf II lha ptprt should it any tlma I lha voc of wilt lnlrt or bwom lh pokiimin of pnvllrn alfiahnaa cnuld vntru to II history from th laat will and Uaiamani of JOSFTHVS DANIEII Editor and Publnhaf lflMWI MEMBER OF THE ASSOCIATED PRES1 Th Aorlald Pra la entitled (xHuaivrly to th ii for republication of all th local finntad In hia nawapapar wall aa 11 AP wi dupatchf Entered at th Pnttnffir al Rilflah North Carolina ai Second Claa Matter MONDAY FEBRUARY 11 1957 Ar Lc So to re co Al he aC B' la: bl ni of ar Both President Eisenhower and King Saud are reported to be convinced that their conferences will result in tloser relations between the two countries In addition the monarch of Saudi Arabia is expected to become a sort of missionary for the United States in the rest of the Middle East There is no reason to question the sincerity of either man and their confidence may be entirely justified But in the light of what has happened after similar conferences in the past it would be well to reserve judgment on the most recent one As recently as last December President Eisenhower and Prime Minister Nehru were confident that much had been accomplished by their conference In no time at all Nehru was reported to be boiling mad because Secretary of State Dulles had succeeded in keeping from Nehru any inkling of the "Eisenhower Doctrine" It was announced just after the Eisenhow-er-Nehru talks which Nehru understood covered all plans of an international nature which were in contemplation in this country And in 1955 the whole world was stirred by reports coming out of the "summit meeting" at Geneva in which the heads of government of Great Britain France Russia and the United States participated Many thought the "cold war" was over But that illusion was shortlived So far as is known King Saud gave the United States only a pledge of friendship plus a renewal of the lease on a Base in Saudi Arabia for which in return he received very definite promises of financial and military aid on a large scale In the past Saud has been allied closely with President Nasser of Egypt It remains to be seen what course Saud will take in the event of an apparently inevitable conflict of interests between Egypt and the United States It also remains to be seen whether Saud will help bring about a settle- ment between Israel and the Arab nations which must precede permanent peace in the Middle East It may be that Saud will con-tinue to be satisfied It may be that he will soon want even more than this government is disposed to give him Wait-and-see is the best rule to follow in regard to such meetings More of them are helpful than are harmful but the results of the most fruitful ones are sometimes exaggerated IS HARP Southern Railway Right The Southern Railway the South's largest railroad appears to be in a small minority in opposing the 15 per cent general rate increase asked by most of the country's railroads But the Southern is right The Southern wants to see what will be the result of a pending seven per cent increase before asking or accepting a greater increase The People's Forum Will Teachers Get Same Raise? th th ur ci tu in st "1 st: ru Sc 25 gi a ni st sc Pi ei cc ce cc te ei Sc is be di Ci in di ol ir ai tl tl ir ei S' si li 1 Big And Brutal Order A man from Texas where they habitually do things in a big way is going to the Belgian Congo to kill an elephant with an arrow The man William Negley hopes to prove that this somewhat snide trick can be pulled off and also to win a $10000 side bet On the face of this rather fantastic proposal you would assume that Mr Negley is hard pressed for both sport and cash Maybe he never got over playing Robin Hood when he was a little boy Maybe he is fed up with this cold laconic era of machines Maybe he wants vicariously to return to the days when knights were gallant and bold It could be that Mr Negley never had a proper opportunity to "show off" when he was little boy and so now he is going to strut his stuff with bow and arrow at the peril of some harmless yet unknown By Drew Pearson WASHINGTON With 10000000 Americans operating in the stock market and with the stock market In prolonged doldrums a lot of people are taking a look at the Securities and Exchange Commission setup to protect the public from stock-market manipulation It seems that the SEC however is looking the other way Here is an interesting unpublicized 11- lustration: Jim Sibbison alert reporter for the Associated Press was thumbing through the customers' cards of Elli- ott and Co the Wall Street firm which "privately" handled a $4000-000 bond issue for the Crowell-Collier Publishing Company Suddenly he came across the names of Thomas Dewey and Adlai Stevenson Immediately he asked the SEC about these two investors SEC officials had known about them all along But put on the spot by Sibbison they brought the matter out in a public hearing They revealed that Stevenson had purchased 500 shares of Collier's stock on the open market just like any other investor He got no privileged inside position His purchase was in November 1954 before the" debentures now under investigation were sold But Dewey the SEC belatedly revealed had invested privately in the new debentures in July 195S through an inside advantage given him by his -neighbor Robert Ducas of Pawling N- Dewey's name did not even appear on the list of participants of the so-called "private" issue of Collier's stock His neighbor had a chance to buy $fi0Q00 of these private debentures let Dewey in on the deal and the ex-Governor of New York later sold on the stock market making $3830 Once the SEC attorneys were put on the spot they did a good job of cross-examining broker Edward Elliott But they have not summoned Dewey to testify His friends have been pulling wires with the SEC to prevent his appearance and so' far they have been successful Here is the cross-examination of broker Elliott by Edmund Worthy assistant director of the SEC's Division of Corporate Finance: "Well did you ask Mr Ducas whether or not there was anyone else to participate with him in the debentures that he was going to take?" asked Worthy "That is the only place where I had an inkling that there would be another person" replied Elliott "You people know who that is You have been fully informed and I think that it would be a grave injustice to that other person (Dewey) if it were spread on the record You have been completely informed as to his identity and the circumstances" Worthy however later returned to the subject of the mysterious purchaser At this point Elliott's lawyer F-Van Parr Jr raised strenuous objections "I don't think there should be any equivocal testimony Mr Parr" insisted Daniel McCaulcy Jr SEC presiding officer "and I think we should have on the record whether or not on July 7 1955 Mr Elliott knew that there was someone Other than Mr Ducas was involved" "On July 7 I had reason to believe that there would be another person in addition to Mr Ducas" said Elliott "And who was that person?" asked thought we had an understand ing that that name would not be put on the record by Mr Elliott" ipter-rupted the disgruntled Parr "Weil why was this name kept off this list of 27 that is now in evidence here sir?" continued Worthy "This particular individual is very careful to keep his name of as many lists as possible so his name cannot be 'improperly used" Elliott explained weakly This particular person happens to be a friend happens to be 'a man that I hold in the highest esteem and Mr Ducas indicated that it was the desire of both Mr' Ducas and this unnamed person to have it handled in the way that I have mentioned" "I shall ask you first sir if the name of the gentleman whose identity was disclosed by Mr Ducas was Mr Thomas Dewey of New York?" asked McCauley "It was" admitted Elliott What makes Dewey's role particularly interesting is the fact that as a top lawyer he should have known the SEC's requirement that an unregistered "private issue" be held by a small number of known investors Yet Dewey's identity was concealed Dewey also knew that the debentures were convertible to common stock at the bargain price of $5 a share' Other investors promised Crowell-Collier in writing that they wouldn't convert their debentures to stock right away for speculative sale on the market Dewey did not Broker Elliott under cross-examination claimed Dewey made such a promise to Ducas But this was not proved and if so a promise to Ducas was meaningless At any rate Dewey sold in 195(5 That's how he made his profit Yet he has not been called to Washington to testify What the SEC is now doing belatedly is fixing the blame for what appears te have been an illegal issue of debentures Under the SEC law all public sale of stocks and bonds over $300000 must be registered with the SEC- Not to do so is a criminal offense A private sale is permissible and the Collier sale was supposed to be private However the Collier's debentures in many cases were converted into common stock and sold on the stock market for speculative purposes This inside manipulation is what the SEC was set up to prevent It will be interesting to see whether the present SEC commisiioners enforce the law they have sworn to protect Put on therefore as the elect cj God holy end beloved bowels cf mercies kindness humbleness of mind meekness longsuffer-ng Colossions 3:12 The high mountains are barren but the lou valleys are covered over with corn and nccordinolu the shouiers 0 God's grace all into lowly hearts and humble souls Worthington Good Morning A lot of bridges have gone under the water since the last ti we got a good long look at the sun Nothing's certain any more! On Page 240 of The World Almanac for 1957 Pike's Peak is 14-109 feet high and on Page 596 it's 14110 feet Some" restaurants serve what can only be called Unidentified Frying Objects More and more the impression grows that the first of the "modern Republicans" were Franklin Roosevelt and Harry Truman Of 65000000 men now at work in the United States 21000000 are women Wanted: A pill to reduce the national appetite for pills A Job For NCAA The University of Wyoming had had winning football teams for the past three years and in each of those years the coach has broken a long-term contract and has accepted a higher salary at another institution The situation is not unusual except in degree Football coaches are loud in their demands for more security of tenure but many of them do not hesitate to break a contract if a higher offer comes along The National Collegiate Athletic Association has shown itself concerned about abuses in intercollegiate athletics arising from "pressure to win" Sometimes it has difficulty in ending abuses But this business of contracts is on that the NCAA could handle with ease A rule requiring both colleges and coaches to keep their contracts would do the job AH that is needed is a ban against any college employing a-coach who is under or has broken a contract with another college The University of Wyoming is holding back five per cent of its new coach's salary to see if he keeps his contract Such action ihould not be necessary The NCAA should act Why Friday Again? One of the excuses for 42 uncollected forfeitures of bail bonds totalling $11200 in Wake County has been that some of the cases (which go back as far as six years) had not been reached when set for hearing It was noted that the reason they were not reached was that they were set for Friday the day on which criminal terms usually end All of the cases have now been set for hearings The appointed day is Friday March 1 These uncollected bonds constitute a scandal They deserve to be heard and disposed of Monday would seem a much more appropriate day than Friday to set them for hearings Today's Poem HYMN TO BEAUTY Soaring in golden gladness here and now The butterfuly darts like a flaming arrow in the sunshine Lives his brief hour of joy and like the worker in the vineyard Measures his glory beside the veterans of the field: Ruty in all the the mall Part of the noble plan and miracle fit the Infinite HELEN NORBECK LAWRENCE Bern Next Explosion In Algeria? "We are convinced that large rate increases reduce our income by driving business away from us" says Harry A De-Butts the president of the company "We firmly believe that increasing volume of traffic is essential to increasing net income" he adds That is common sense The Interstate Commerce Commission should deny this increase elephant that never did one single little thing to Mr Negley If the man really wants to demonstrate his proficiency with the arrow why does he have to go all the way to Africa? Why can't he stay at home and kill something really destructive like an alligator or a rattle snake? This whole business implies sadism and exhibitionism And its a good bet that a lot of people will join in pulling hard for the elephant It is sincerely to be hoped that Mr Negley's plan to sink a steel-tipped arrow 28 inches long into an elephant's heart and lungs never takes place The place for shooting arrows is on a target range Killing a poor hapless elephant will prove nothing except that some people will do anything for a distorted thrill and for enough publicity CHILDS war that lasted seven years and cost untold blood and treasure The deep-seated fear in Washington is that Algeria will go the same way in a nolo-1 caust of bloodshed and destruction On each side the position is becoming more and more irreconciliable When the French seized the Algerian leader Ben Bela and four of his confedeiates in a plane theoretically belonging to the Moroccan government the nationalists throughout North Africa felt that a dividing line was crossed This their leaders say spread the feeling that no peace with France is possible And they add that this is an invitation to collaboration with the Communists who have been arguing all along for the inevitability of continuing terror and violence Those who fear the Indochina parallel point to one important difference In the latter years of that conflict the United States was paying considerable share of the cost What is more the dollars were being paid through the French treasury in Paris and they had a salutary effect on the French balance of payments position The cost of sustaining more than 400000 troops in Algeria is being born entirely by France This is a billion francs a day' adding up to about a billion dollars a year As a consequence the French gold-dollar reserve is down to $1220000000 and $360000000 of this is the gold reserve of the Bank of France untouchable without an act of parliament Last year France lost $700000000 to $800000000 in reserves not only because of Algeria but due to the severe winter which reduced crop yields It was also the result of high imports brought in to try to keep the price level down But now with the reserves at the bottom of the barrel that policy is impossible The French also have been spending hard cash in this country for helicopters training planes and other equipment essential to prosecuting the war in Algeria So as though the complications were not already grim enough a threatening inflation is added with the consequent rise in tensions it must mean The next few days are critical If the boiler does not blow up then a compromise solution is still a hope That can come even though every indication to the contrary To the Editor: Your article "Will Teachers Get Same Raise" in yesterday's paper was most interesting North Carolina has made great steps forward in industrial development We are proud of our State but we are looking forward to the day when the welfare of our youth is as important to all of our citizens as it is to our teachers EDNA SEMPLE Fayelteville MINISTERS' PENSIONS To the Editor: It is my conviction that a wrong has been done to a group of old ministers in North wrong that cries to heaven for redress The wrong was unwitting It was due to an error made by a committee of wise good men in setting up the North Carolina Plan pensioning old ministers The plan in our State was based unwisely on the salary one chanced to be getting "the tyear before" the plan went into operation Obviously men "on the way out" might chance to be getting a very small salary so that the "year before" rule might give one but a nominal pension Incidentally I was one so caught under the "year-before' rule my pension from a great denomination is only $1312 a month The almost universal basis adopted by church bodies and by business gnjups is one's average salary over a period of years- That basis obviously is much fairer and safer' I have been a recognized crusader In the interest of old people In the interest of other old people many of them in the ministry far less fortunate financially than myself I have written an article giving the facts regarding the unfairness of this plan as set up by one of the great denominations- It should concern all church people who seek to provide worthily for the aged The article appears in "Biblical Recorder" of February 9 It is a matter involving nothing less than simple justice kindness and mercy providing for the churoh rjlta Thin IMIIlfA hHAHflnM 4a aged ones This invites attention to the article with the hope that some reader will be wise enough to suggest a way to right an unintended wrong to a group of old ministers many of them far more needy and more worthy than I MORGAN SR Wake Forest NOLO CONTENDERE To the Editor: Some wag once commented that "no one uses good Eng lish except college professors Adlai Stevenson and the editors of The New York Times" Ogden Nash recently snarled that nowadays "Oafishness sells good like a commercial should" Our President struggles manfully with the intricacies of common everyday but then he is a non-reader of The New York Times being addicted mainly to murder mysteries and Westerns Perhaps we minority citizens who prefer our English straight should confine ourselves to The Country Parson "Iot' of folks are so sure it is better to give than receive that they want everybody to practice it" for the killing of loved ones or more revenue for the traffic courts If one of my family should be hit and killed or injured by a car payment of "damages" would be small compensation indeed and it would make little difference to me if some patrolman hiding in an unmarked car or behind a signboard immediately arrested the driver of the car and made his insurance company pay and thus absolve the driver of any considerable responsibility for his conduct I would like to see the Patrol on the road in plain sight reminding the ill-mannered inconsiderate boors of the road that they are under observation Instead many of the patrolmen are hidden away waiting for someone to arrest To me there is nothing more terrifying on the road than the thought of driving the entire length of the State without meeting a single patrol car (I have done just that many times) on duty and knowing that most drivers may be assured that their cars are in A-l mechanical condition and that the drivers are absolved already from liability for their actions by insurance on themselves their cars and their victims STAINBACK Raleigh WHISKEY ADVERTISING To the Editor: In all the years I have reading the News and Observer I have never remembered seeing even one whiskey advertisement but in a local paper whiskey is advertised just about every day and yesterday February 7th there were eight outstanding whiskey advertisements each illustrated with some brand of whiskey or gin Had all these advertisements been printed on one page they would have probably covered the entire page CALVIN LANE Washington "THE YEARS AHEAD" To the Editor: I wish to express my sincere appreciation for your efforts in behalf of the teaching profession Your article "Will Teachers Get Same Raise?" in your edition of February 7 1957 reflects your interest and sincere concern for the future of North Carolina If the teaching profession continues to lose those who are trained to serve our youth how can we hope to have adult citizens who will be capable of serving our State government in the years ahead? MRS KENNETH LANCASTER Fayetteville SALARY RAISES To the Editor: I believe by reading your editorials that you are for "us underpaid State employes" Justice does not seem to triumph when some State olficial already receiving $10-00000 to get a raise to be even more than my whole year's salary ARCHIE GRIFFIN Robcrsonville Daily Bread By Rev A Purnell Bailey Let's keep religion out cf politics Hitler that Lots of well-meaning people oftentimes think it would be good But if by politics you mean the government of the people why shouldn't people who believe in religious values want them at the heart of governing principles "We have to learn from the metaphor of the parable" said Alexander Ma'claren "The dough is not kept on one shelf and the leaven on another the bit of leaven is plunged into the heart of the mass We Christians are not doing our duty unless we fling ourselves frankly and energetically into all the currents of the national life commercial political municipal intellectual and make our influence felt in them all" Blessed is the nation whose God is the Lord (Fsalmi 33:12) Harper's and The New Yorker else sink beneath a tidal wave of conjunctive "likes" dangling participles fragmentary sentences and "statures" on Capitol Square Shuddering-ly we read in our morning that Paul Green has "authored" another outdoor drama (perish the thought!) or that the local belles "knit 'n pearl (perl pirl)" to pass the time "Its" regularly appears as "it's" "affect" as "effect" "statue" as "stature" and vice versa The list (choke sob!) could go on ad nauseam Surely the poor typesetters cannot be responsible for all these gross vulgarisms Somehaw the weekly columns of the late Nell Battle Lewis got through practically unblemished She of course was a workman who needed not to be ashamed Young people especially tend to believe what they see in print particularly newsprint "If you see it in the Sun it's so" (Yes Virginia there IS a proofreader) Therefore our daily newspaper has a great influence not only through actual news material but through the way it is expressed Reporters and writers who cannot demonstrate an elementary grasp of the tools of their trade should not appear in print Help Mr Editor Man! If the State Universities do not send you enough literate would-be journalists perhaps you could cause a small fine to be levied for every printed vulgarism The money accumulated could be used to establish the Charles Craven Home for Indigent or a chair in Blue Pencilmanship in the local university (I'm only kidding Charlie) MRS BRANDT Raleigh ASSEMBLY'S RESPONSIBILITY To the Editor: With the convening of our General Assembly in biennial session it may be well for the electorate to see how responsible this su preme lawmaking body is to the will of the sovereign people and to the mandates of the Constitution North Carolina is tne onl Stale in th Union in which the Governor does not have the veto thus giving to its legislative branch final supreme pow-' er in law-making Have the committees of both the House and Senate been so fixed by the presiding officers as that bills providing for reapportionment Statewide ABC stores election" and making intrastate labor laws conform to the federal can be safely buried in committee? These committees in prior -sessions have been so fixed If we really live under a democratic majority rule as we claim it certainly jjoes seem time for the majority will of the electorate to be re-' garded In North Carolina and other Southern states we most of all need a party realignment into a Liberal Party and a Conservative Party fasnioned after the British system We shall never get legislative relief under our one-party system Our Big-D Democratic set-up in North Carolina is too conservative Close students of government have known ever since the Roosevelt era that our Democratic regimes of the Southern states have bitterly opposed the liberal policies of the New Deal Fair Deal eras The leading Democratic conservatives in our General Assembly today still oppose liberal rneasures If vox populi vox del means more than lip service it is certainly time in our State for such noble sentiment to be more reflected in our supreme law-making body- JOHN PALMER Warrenton IN PLAIN SIGHT To the Editor With the excitement over highway accidents auto inspection anu insurance and unmarked Highway Patrol cars it seeins to me that advocates of legislation and those responsible for patrol of the highways alike are- completely missing the point: Ie that the desired result is safety on the highways not payments By MARQUIS The words so often dilemma crisis problem-seem pathetically inadequate to describe Algeria and the relationship between France and the United States It is like watching the gauge on a steam boiler go up to the explosion point without knowing what to do At this late date almost any move could merely aggravate the tension And those who are watching the gauge know that the explosion if it comes can do irreparable damage There are several ways in which it could happen The French population in in the neighborhood of 1000000 if other Europeans who identify themselves with the French are is reported in a state of suspicion and hostility bordering 01 the pathological Terrorism and counter-terrorism have built up an atmosphere of blood hate If a compromise should fail in the United Nations and a resolution be adopted calling for the independence of Algeria the reaction in France would be violent The United States would have to side with the French on such a resolution and that would tend to alienate the Arab states whose friendship this country is courting This is only to suggest the extraordinary dangers just ahead as America tries to steer a course between the claims of the West and the rising tide of Arab-Asian-Africah nationalism To steer a middle course is to risk alienating both sides and that may be the greatest peril America to end with both sides feeling let down betrayed The hope is that a compromise resolution in the doing little more than taking note of the situation can prepare the way for an eventual solution In a more reasonable climate France could be persuaded gradually to abandon the position that Algeria as a province of France itself cannot be granted independence Then along with Tunisia and Morocco Algeria would become a new state Aid from America and France the two working perhaps in partnership would help to build a modern economy One by one since the end of World War II France has lost her overseas holdings Tunisia and Morocco after a long period of tension with attendant violence went by peaceful settlement Indochina was lost after a

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