Galesburg Register-Mail from Galesburg, Illinois on October 7, 1963 · Page 10
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Galesburg Register-Mail from Galesburg, Illinois · Page 10

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Galesburg, Illinois
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Monday, October 7, 1963
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Page 10
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10 Golesburg Register-Moil, Golesburo, Monday, Oct. 7. 1963 Competition Can Be Boon To Spenders or Savers By SAM DAWSON NEW YORK (AP)-Competition can be a boon to savers as well as to the spenders it usually is credited with helping. For consumers competition is supposed to hold down prices. For savers it can boost the rewards. And many who could put aside a few dollars from the weekly paycheck have been able of late to get higher yields—up to five per cent from some Southern California savings institutions. This is thanks to the competition among the many havens for savings—and also thanks to the increasing number of those who borrow. Where borrowers multiply, savers prosper — if things don't go too far. Some warnings about that are being made now by federal agencies. Increased interest rates, both on some forms of loans and for the savings from which loans are made, have also been influenced by international politics in today's complicated world of finance. The U.S. government has encouraged higher rates on some forms of savings, to keep money at home rather than letting it go abroad where foreigners already have too many surplus dollars for our comfort when it comes to settling international payments. But mostly, savers have been wooed because the demand for mortgages, installment loans and other forms of credit—particularly irt fast growing areas of the TO KEEP YOUNG STAY HEALTHY Anyone who lived to be fifty about a hundred years ago was considered very fortunate. Few were actively healthy at forty. Now, average life expectancy is in the seventies. You are young as long as you have good health. New medical techniques assure more accurate diagnosis. New drugs, hormones and vitamins are positive acting. Go to your physician quickly when sick. He can help you to stay healthy and young. YOUR DOCTOR CAN PHONE US when you need a medicine. Pick up your prescription if shopping nearby, or we wiU deliver promptly without extra charge. A great many people entrust us with their prescriptions. May we compound yours? HAWTHORNE DRUG CO. 15 E. MAIN ST. If your Doctor Prescribes It — Hawthorn* Has It Copyright 1961 nation—has been so insistent that lending institutions were competing for available funds. Competition to raise money for the mortgage market in Southern California has led several savings and loans associations to raise dividends to five per cent. This has brought an expression of concern from Joseph P. McMurray, chairman of the Federal Home Loan Bank Board, which regulates federally chartered associations. He says "hasty rate increases" might lead to federal restrictions. His worry is that payment of five per cent to savers can be assured only by continued heavy demand for mortgages paying higher. interest. The government doesn't want building slowed by too expensive financing. But Frank B. Yeilding Jr., president of the U.S. Savings and Loan League, says that record mortgage lending by the nation's associations has eliminated the excess supply of savings funds they held earlier this year. Mortgage demand varies from region to region. But lenders insist that increasing population means still greater demand for housing. Competition for savings — and for profitable loans — has been growing among many other forms of savings institutions. Commercial banks have been paying more on time deposits, and in many places savings banks have been raising their returns. This, plus DR. I. ERNSTEIN OPTOMETRIST CONTACT LENSES EYES EXAMINED LIVING SOUND HEARING AIDS GALESBURG OPTICAL CO. Ml B. Ma 1B Moons > AJC 10 a PM. rridayu t KM to t:S0 P.M. 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Ex-German Rocket Expert Disputes Scientific View Sy AtVIN % WEBB JR. CAPE CANAVERAL WPl) Venus, that planetary beauty In the sky, still hat at least one champion. Venus has faired rather poorly at the hands of non-esthetic scientists this year. They have ruled that this ancient queen of the heavens actually is nothing but a sort of oven in the sky, hiding her dreary ugliness beneath a perpetual skirt of brilliant clouds. But up steps a U. S. space scientist, Krafft Ehricke, With a dissenting opinion to the general scientific conclusion that Venus' is a broiling, lifeless desert. At the risk of getting into a man-versus-machine argument, Ehricke remains unconvinced that the planet is broiling. That poses an interesting point of speculation. If Venus is not broiling, then it is cool — perhaps cool enough to support life. Deplores Current Thinking Ehricke. deplores the current tendency to rule out Venus as having no merit for future manned exploration. "Venus is an example of why you need man in space," he said. It does not disturb the stocky ex-German rocket expert that he is at odds with popular scientific sentiment about the planet Venus. Actually his argument is not that his fellow anti-Venus scientists are wrong — but that they do not,, have enough information to prove they are right. Ehricke is director of advanced studies at General Dynamics-Astronautics in San Diego, Calif. — and, as such, he is one of the so-called "four-out" group that is studying where, when and how man should go into Interplanetary space after he conquers the •noon. Despite the apparently negative results from America's Mariner-2 space probe — the basis for most of the present 111 thoughs about that planet — Venus remains Ehricke's favorite initial planetary port-of-call in his own proposals for post-lunar expeditions. "Venus might hold even more surprises than Mars" Is his opinion. Covered By Clouds There is an element of mystery about Venus, whose surface is 100 per cent hidden by clouds. Mars, on the other hand, is naked in its reddish brilliance to earthbound telescopes. Ehricke takes exception to the inclination of the space science fraternity to almost completely write off Venus as a worthwhile Independent Sudan Sudan became an independent country on Jan. 1, 1066, when Great Britain and Egypt hauled down their flags at ceremonies in Khartoum. Long Punt BLOOMINGTON, Ind. (UPD- Dick Crayne, an Iowa fullback, kicked a 102 -yard punt in a 1934 game against Indiana. He had a 35 mile-per-hour wind at his back at the time. Syracuse. University freshman football coach Jim Shreve began the 1963 season with a 15-1-1 record for his first four seasons with the Orange. BELL'S . GOING OUT OF BUSINESS SALE STILL GOING ON DRESSES MARKED DOWN DAILY L. B. Bell Co. 444 E. MAIN ST. Permit 4951 target MI the but! of intonation gleaned by the 447-pound Marin' eM that swung to within 21,6*8 miles of that planet last Dec, 14. An official report said the probe's readings indicated "a fairly uniform 800 degrees fahren- heit,. .of the entire surface.'* This. is four times the boiling point of water, enough to turn any form of life on earth into well-done steak within minutes, But Ehricke questions whether the readings from a comparative ly small but almost primitive sort of instrument like Marlner-2 during a comparatively brief S5*min< ute "near-approach" to Venus should constitute irrefutable cloud laytrs? IfOTSINM laTOIjRrcMlMMn For instance, ha 4m not doubt that Mariner-i detected a high temperature reading tome' where. But was that ''somewhere" actually on the surface, or was It somewhere in the thick cloud layers. If the latter was the case, said Ehricke, then Venus "does not necessarily have an W0-degree temperature on the surface, and therefore (if the temperature is lower) thes urfaee is not necessarily dry," as has been the common interpretation. ONLY A PHONE CALLAWAY... BCONO-CAR turn SVSTIM rent a St compact car PER 12 HR. PERIOD 4.99 PER 24 HR. PERIOD PLUS PENNIES A MILE all brand new models fiit Clrnltr ffsdetb ...VilUiw, Wraeilsi. Dtfftj.Dnfs, Chrrsltfs, CeaferKWes.Statiea Wafwi...itil eUtf Mesh. FREEDelivary ,90i ,oil,rnolnttnance ond Insurance) American Express CroditCora»HonoYea^^ KNOX AUTO BODY 39 N. Cedar Phono 343-8341 With the Winning Team * Mechanics * Your Money EARNS MORE With MECHANICS Bigger Dividend of PER ANNUM OVER $575,000.00 PAID TO INVESTORS IN DIVIDENDS OCT. 1, 1963 Insured Sovings Invested by the 15th of the Month Eorn from the 1st Week anici J4omeitejid cjCoan ^Association 250 Edit Main Street Galetburg, lllinoit Call 342-4145 §k4tiK&

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