The Baytown Sun from Baytown, Texas on March 4, 1966 · Page 10
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The Baytown Sun from Baytown, Texas · Page 10

Baytown, Texas
Issue Date:
Friday, March 4, 1966
Page 10
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Iff Friday. March 4, 1966 TRAFFIC LESSONS FOR POLICE SCHOOL Sgi. Jack Maxwell, left, and Lt. Charles Cowan Teach New Officers Traffic Investigation Procedure 'Magic Five Per Cent* Is Luring Some Investors j To some stockholders that i may seem a good reason to sell stocks — particularly if they can still do so at a profit over what they paid for their holdings some time back. Most stock traders are presumed to be more interested in buying in hopes of a rise in for a capital By SAM DA1VSON AP Business News Analyst NEW YORK (AP) — The "magic five per cent" is luring some inx-estors out of stocks and into bonds or savings certificates at the banks. At least, that's one of the many reasons brokers are giving far the rush of selling of common stocks this week. Investors can now get a bigger return on their money, whether five per cent or a bit less, from manv other thinss ,.. . ,, than from most common stock's i seemed like a good time to get; It price gain — than they are for income in the form of dividends. But even to some of these traders, the uncertainties that rocked the stock rtrut. ui~ d viij . , . . -• ^ -" — ~~" other thinss I market ^ month ma - v have j since early December. out for a while. So they put the money they got holdings into for" their high yielding bonds and certificates to ride out the storm. This can't be proved, of course. It can only be guessed. But some brokers are guessing that the drop in stock prices might not have been so steep nor the volume of trading so high, if the money market hadn't been offering ever in- yields on investments Yield is the dividend payment; as percentage of what vou paid for the stock. Stock prices hadj risen so high that they were! yielding an ever smaller return, i NOW IS THE TIME A ne*n buclneu you can really get excited about. Excellent profits from tne ctart. 1«t time of?ere«j. No experience necessary- Part time can fircw to full time. $T2QO casn required. Fully secured. Write giving phone No. to Dept. 11-A. Box 8301. Universal City, Calif. was then that the Federal Reserve Board started the interest rate rise by upping the discount rate which it charges SAN JOSE, Calif. (AP)—The'member banks for borrowing ! number of farms in the United l from the Federal Reserve banks. i States is 42 per cent less than in! Bond prices have dropped J1950, says L. S. Fife, general j sharply. Today some U.S. j supervisor of market research! Treasury Bonds can be bought I for International Harvester Co. j at so low a price that their fixed the competition as savers are i Fife said there were now 3.291 interest rate payments yield the j lured to the new magic 5 per ; million farms and that by 1974 jinvestoraround 5 per cent. j cents, or to rates somewhat be-icuire changes in procedures, jthe number would drop to 2.4 Some municipal bonds now j low that but still markedly high! million, coming to the market have beenier than last November. priced to yield around 4 per -•em. Since the interest on then- is exempt from federal income taxes, they always pay less than corporate bonds and other forms of investment on which the income is taxable. Corporate bond prices have fallen in line with the decline in Treasury bond prices. 5 New Men On Police Force Train Haree weeks of intensive training are being held for five new policemen. Chief Blair Mann announced. The training school will be concluded March 10. Daily instruction is given in the building formerly occupied by the city water office on Bayway Drive. The staff for the training school is composed of City Manager Fritz Lanham, Chief Blair Mann, Assistant Chief R. H. Turner, Lt. James Taylor, Lt. Charles Cowan, Sgt. E. R. Hardy, Sgt. H. H. SieeJe, Sgt. B. J. Ausley, Sgt. Jack Maxwell, Detective Robert Merchant, Officers J. C. Deel, Ronald Cooper and NeiU Seeley. The subjects include code of ethics, public relations, first aid, criminal law, criminal investigation, report writing, crime scene search, search and seizure, identification, communications, city ordinances, traffic law; traffic directing. patrol techniques, safety techniques, night stick instruction, self defense, driving skills, arms and city government. The Police Training School was instigated by Chief Mann. This is the second school that it has been held this year. NEW POLICEMEN SET ON-JOB TRAINING Poiice School includes Practice In Directing Traffic McNamara Admits Errors In Judgment Of Viet War at today's prices. Commercial banks are limited legally to 4 per cent for ordinary savings accounts which can be withdrawn at will. But several big New York banks are now paying 5 per cent for large deposits that cannot drawn fora year or so. Yield*! WASHINGTON (AP) — Secre!'^ of !**«««? Robert S. Me•Namara acknowledges that some concepts and methods i forged by him and his experts I have failed to meet the test of the Viet Nam war. This is a rare admission by thg Pentagon chief who normally wears an air of total self as- isurance. Many mutual savings banks j "We have to develop . new have raised their dividend pay-i methods to meet problems for ! which we had old answers," Mc- INamara told a news conference | Wednesday. "Old answers were ments. Savings and loan associations, which usually pay more than banks, are feeling, the competition as savers are!not applying. i changes in policies, changes in |habits and thought." If you haven't paid your poll tax REGISTER NOW! County Tax Office-DeFee St. Weingartens -- Texas Ave. Lewis & Coker •-Lakewood Center Your vote is needed, to return good men to office. Avoid pollution of our youth by electing men who oppose such measures as the Pipkin-Brooks race track gambling bill. Beet men who have proven their loyalty to the best interests of our community — its homes, schools and churches. HARRISON State Representative John Ray Harrison The defense secretary did not specify what problem areas he was dealing with. However, some of his associates said that the concept of using Reservists in crises had undergone a drastic change. It was apparent that the current intention to deal with the suit of the U.S. effort in Southeast Asia. "The first people that ought to know that are the Germans," McNamara said. One Pentagon source said the ~ defense secretary had been un- __ der pressure from the Germans. ~ apparently seeking assurances that NATO defenses will not be weakened in the light of the heavy and growing U.S. commitment in the Viet Nam war. The reason for McNamara's news conference in itself was unusual. Just last week he had j made a 220-page presentation tpj "These new methods do re- congressional committees spelling out in great detail what has rising manpower demands of]veloped. the Viet Nam war without call-j ing up Reservists stemmed j from a desire to avoid creating turbulence in U.S. civilian life and the economy, as well as from the growth of the regular forces available and planned. McNamara's news conference was called to put to rest any idea that the United States has overextended itself in Southeast Asia and has left itself vulnerable in other areas of the world. McNamara showed unusual irritation, in a couple of instances. He tangled with reporter Clark Mollenhoff when Mollenhoff persisted in quizzing him about" the critical views of Sen. John C. Stennis, D-Miss. In a bitter exchange, Mollen-j hoff accused NcNamara ofj dodging and the defense secre- j Uary snapped "I unfortunately '.haven't been able to dodge all ithe rocks you have thrown at ime for five years." ' , Mollenhoff, of the Cowles j Publications, has written articles questioning, among other i things, McNamara's actions in Ithe matter of the TFX fighter ; plane contract. ! Mollenhoff wasn't the only ! reporter to draw McNamara's i irritation. i A German newsman triggered !a sharp response from the dei fense secretary 7 when he sug- jgested that "the best - trained. : host-equipped and most-mobile ' American units have been absorbed by the Viet Nam crisis." i Detecting an accent, McNa- • mara demanded to know^ | 'Where are you from?" | i When the reporter replied) I "from Germany," the defense] i secretary said: j I "It is absolutely not true and I you are the first that ought to 'know it. I am sick and tired of having implications made that we have drawn down the forces in Western Europe when wej haven't." | McNamara said flatly that the U.S. 7th Army deployed in Germany for th e defense of the North Atlantic Treaty Alliance will not be weakened as the re- Tradition Gets Girl Expelled CAMBRIDGE, England (AP) j— You drink a pint of beer in I each of King Street's eight pubs ! to qualify for the King Street iRun Club. Barbara Marshall, 19, did it — 'and was expelled from her college. The club is a tradition among Cambridge University students. Barbara says she is the first girl member. It took her 75 minutes to qualify. "Now I wish I hadn't done it," she said. "I wasn't drunk and I haven't done anything to bring the college into disrepute. But now my whole career is ruined." Barbara was training at the MacKenzie College of Speech and Drama to be a teacher. been done to maintain U.S. armed strength as second to none. However, he was stung by a number of newspaper articles, som e appearing before his formal presentation to Congress, j suggesting that U.S. armed power was being spread thin and that dangerous shortages of supplies and equipment had de- Mod Comic Is Back In Hollywood By BOB THOMAS AP Movies-TV Writer HOLLYWOO D(AP> — Zero's back in town. Who's Zero? Mostel. of course the mad, mountainous comic artist of Broadway's "Fiddler On The Roof." He is here to appear on a Carol Burnett CBS special which also costars Lu- cil'e Ball. The theory, no doubt, is that two such formidable comediennes require a comic who can keep up with them. . That's Zero. He seems to be I ahead of everyone, improvising 'comic bits at a!! times, even over a lunch table. When some,one at the table ordered wine, ihe slipped into a gallic fantasy. I "Why can't Picasso paint peo- ! p!e the way they really are?" he I muttered. \Viih glasses askew, eyes awry and face askance, he did indeed look like one of those wild Picasso portraits. Zero talked about his earlier encounter with Hollywood. "I came out here in 1950 for a contract with 18th Century- jFox," remarked Mostel, who jhad depaited from comedy to play a heavy in "Panic In The Streets. "I am basically a New Yorker, but my memories of this town were pleasant ones." ; He was dropped by Fox— i "Thev ran oui of menace roles" -and I returned to New York. "There is a Providence that ; i looks out for fat actors." he ob•i served, "because I went into the jj theater and did things like Moli- ij ere and Joyce's Ulysses." ;| That led to his classic portrait jjof the title role in "Rhinoceros" l! and then to modernized Plautus j'iir. "A Funny Thing Happened jjOr. The Way To The Forum." Mosiel recently completed the film version of the latter in |i Spain. Mostel explained why he was ii able to come here for the Burnett special, which appears March 22 ."My analyst was tak- inc avacation." he said. **r*^~+******"***'*+^+*^' AVOID THE RUSH! HAVE YOUR CAR INSPECTED NOW SAM HOUSTON'S HOME —• Thousands of visitors to historic Huntsville each year make a pilgrimage through this white cotfage which was once the home of the famous Texas statesman. The house is part of the Sam Houston Shrine located across from Sam Houston State College. Other points of interest here include a museum containing clothing, weapons, books and rare documents owned by Houston. Nearby is his old log law office and the frame building shaped like a steamboat in which he died. I '. I/. f± FAST MLIEFl Ttrrifylnj Jpi*m» e( Bronchi*! Asttum rtlltvtd quickly tenuity wttiiin 1 mlnuti) wltt KEFHROil Ir.hilint E»n tttt meat stubborn out nipond. Rigirulux of wtut jvtt HIT* trl»d or how hop«l«M yoor cut, NETHROS couK •nrwtr JWK n«d with irr.irlni mults. S«« ysw Druisiit for BEPHROH. '65 Ford Galaxie 500/XL 2-Door Hardtop AT THAD FELTON OF BAYTOWH Ford Fever is what you catch when you take the wheel of a '66 Ford — your pulse goes wild! Treatment: see your tali-trading Ford Dealer and get treated right. You get a tall choice of everything you want — and a deal that makes you feel ten feet tail! See us now! WELCOME T0 TEXAS! TEXANS. TOUR YOUR STATE! THAD FELTON OF BAYTOWN 622 W. TEXAS AVE. BAYTOWH. TEXAS

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