The Courier News from Blytheville, Arkansas • Page 3

JfAJiOK MM BLYTHBVILLB (AUK.) Business Slump 'Good Jesse Jones Says By SAM DAWSON HOUSTON, Tex. (AP) The modest slip in busines and industrial activity may be bitter-tasting medicine but it should do us is the opinion of Jesse H. Jones who will celebrate his 80th birthday Monday. tfhe onetime head of the Reconstruction Finance who lent billions to business, said in an Interview: "This dip hasn't gone far enough yet to hurt. It's a healthy thing and a little overdue." who still sticks close to his job as builder, publisher and banker, said it's past time for America to climb off its stilts of boom and debt.

He thinks that if it doesn't, the economy may be heading for a sharper tumble. One stilt as the man who held 28 Scholarships Given by UDC Lineal Descendents Of Confederate Veterans Eligible A total of 28 gift and tuition or part-tuition scholarships for the 1954-56 school year will be made available to lineal descendants of Confederate veterans by the United Daughters of the Confederacy. Additional eligibility requirements and application Information may be obtained from Mrs. Gean Atkinson, president of the Elliott Fletcher Chapter of the TFDC here. Gift scholarships available and their values follow: Woodrow Wilson Memorial Scholarship, University of Virginia School of Law, $450; Cornelia Branch Stone Memorial scholarship, $200; S.

A. Cunningham Memorial Scholarship, $200; Winnie Davis Children of the Confederacy Scholarship, $200; Jefferson Davis Memorial Scholarship, $200; Jubal A. Early Memorial Scholarship, $200; Mrs. L. H.

Haines Scholarship, $200; Mary B. Poppenheim Scholarship Foundation, two scholarships, $150 each. Tuition and part-tuition scholarships these amounts are available for the following schools: Bethel College, Hopkinsville, $100; Christian College, Columbia, $75; Chatham Hall, Chatham, $300; Columbia Military Academy, Columbia, $150; Central Missouri College, Warrensburg, $60; Kemper Military School, Boonville, $200; Lindenwood College, St. Charles, Mo-; $200; Missouri Valley College, Marshall, $60 per semester; Wentworth Military Academy, Lexington, $100. Culver-Stockton College, Canton, scholarships: music, $350, and freshman only, $50; Marion Institute, Marion, two scholarships, $150 each; Missouri Military Academy, Mexico, $350; Randolph-Macon Academy, Front Royal, $100; University of Miami, Miami, $100; University of the South, Sewanee, $100; Virginia Intermont College, Bristol, $150; Washington and Lee University, Lexington, $125.

federal posts Presidents Wilson, Hoover and F. D. Roosevelt sees the great boom in production for defense and for overseas allies and the building of industrial capacity to a level over and above what the American civilian economy needs. The other seen by one who is called "the greatest money lender of all times" the huge total of debt at all levels: governmental, corporate and personal. An economy striding too high on debt worries many others also.

"You can't go on forever spend ing more than your income without courting bankruptcy," Jones warns. "I'm not an optimist for the country's economy as a whole, because its stilts are too high. We should come down a bit." "Houston is better off now than some of the cities in the North," he says. "It probably will stay that way and not be as badly hurt, no matter how business goes nationally." Texans count on the oil and gas industries, and a reasonably steady demand for their products, acting as a recession insulation. They say that their other industries are well diversified, and still growing.

Industrial production here is off perhaps 2 or 3 per cent from the peak, Jones estimates. This compares with a Federal Reserve Board estimate of 10 per cent drop for the entire country. Retail trade here is off by 2 per cent, according to official figures, but Jones estimates the drop is closer to 4 per cent. "It's caution, not ft recession lere," he says." Customers are waiting to see what's coming. good sales are holding up well.

But there had been some drop in appliance purchases. This could be because consumers are waiting for promised excise tax cuts before buying. Better auto ales are reported in the last two weeks. Commercial construction goes on. Home building picked up in March.

But Jones shakes head over ttye amount of government backed mortgages involved. There have been few defaults on loans so ar, bankers here say, although col- ections have been poor on some oans made for repairs. Industrial expansion plans are untrimmed, but bankers believe spending this year will be more for new equipment than for new factories. A lot of old tool must be junked, they reason, if arms are to stay competitive in a buyer's market. More men are out of work here han this time last year, but the raise in unemployment is not mough to be at all serious, Jones believes.

Unskilled labor is affected most. Drought has hurt badly, especially in the western part of Texas. Jotton farmers complain of lower and higher labor costs. But the grocer says that in the ast three weeks people have been etter about paying their le's more optimistic now that 'exas isn't in for a bad time. GOOD and neighbors of Russell Gates have given the Swannanoa, N.

resident an electric-powered car to help him compensate for the loss of his legs in an automobile accident Along with the auto they ateo gave Gates a garage. Bui; can't drive the car oo public highways until he gets a permit from the State Deiai-Uueut of Motor Vehicles. ATTENTION GARDENERS Frith and Garden Deafer For Funk's G-Hybrid Sftd Corn BYRUM'S IMPLEMENT, HARDWARE 114 E. Main AND SEED CO. 118 E.

Main CANDIDATE Hub Methvin, Trumann attorney, last week became the fourth candidate for prosecuting attorney of the Second Judicial District, which includes Mississippi County. A Trumann attorney for 21 years, Mr. Methvin served for 10 years as deputy prosecuting attorney for Poinsett County and has been city attorney of Trumann for the past 18 years. He is currently holding down both -Jobs. A Methodist, Lion, Mason and Shriner, he has been endorsed by the Poinsett County Bar Association.

Business Decline Said Now Worse Than in 48-49 PASADENA, Calif. present business slowdown, says Under Secretary of Commerce Walter Williams, is no worse and perhaps not as bad as that of 1948-49. The development of new industries and products, along with what he called the nation's "dynamic stability," work together toward mainlining economic equilibrium, he said in an address last night. Jefferson Portrait Edited JEFFERSONVILLE, Ind. Ufl 'ity officials sent to Indianapolis or a portrait of Thomas Jefferson and the picture was the central piece in a float for a progress parade.

Then the new Thomas Jeff-. erson school was opened. Officials obtained the same portrait to place on the school walls, but it never was hung. A school official said it was a good picture, not of Jefferon, but of Andrew Jackson and not oo appropriate for the Jefferson school in Jeffersonville. Watchdog of Federal Spending Quits Post By STERLING F.

GREEN ways to be independent, nonparti- WASHINGTON UR Lindsay C. san nd nonpolitical." Warren, 64, comptroller general of the United States, retired today from his dismissal-proof job as the watchdog of Congress over federal spending. He had served 13 Vi years of a controversy laden 15-year term. Leaving because of physical dis-i Eisenhower Museum Opens Saturday ability, he will get his full $17,500 salary for life under an act signed by President Eisenhower last year. Under his direction the General Accounting Office (GAO) has recovered for the taxpayers an estimated 915 million dollars of illegal or improper payments.

Rep. W. Sterling Cole (B-NY) has been boomed by many of his colleagues as a successor. Rep. Kilburn (R-NY), saying he was acting on behalf of the House Republican leadership, recently obtained the signatures of more than 200 House members on a letter urging Eisenhower to name Cole if Warren should resign.

Warren, although his appointment hi 1940 followed eight successive terms as a Democratic representative from North Carolina, took pride in having hunted waste and inefficiency impartially in the Roosevelt, Truman and Eisenhower administrations. "In our work we have never pulled a punch regardless of who might be affected," he declared today in a letter to every member of the House and Senate. He recalled numerous attempts to curb or abolish GAO and added: "The GAO is your agency. To be ABILENE, Kan. Eisenhower Museum housing a vast part of President Eisenhower's collection of mementoes, trophies and souvenirs will be opened to the public Saturday.

Representing the family at the brief, informal ceremony will be Dr. Milton Eisenhower, the President's brother. Plans for the opening were announced yesterday by officials of the Eisenhower Foundation, who $1,500,000 on the collection. The Foundation said it is hoped the President will be able to return to his home town later this year for an official dedication. Sunday School Congress Committee to Meet Here The committee in charge of setting up a forthcoming Sunday School Congress for Negro churches here will meet at 7:30 p.m.

Thursday at St. Paul M. B. Church here, Rev. J.

W. Speight, chairman, announced yesterday. Pastors of all Blytheville Negro worth its salt it must continue al-lsaid. this business meeting, Rev. Speight WE HAVE MOVED We have moved from 812 So.

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