Carrol Daily Times Herald from Carroll, Iowa on September 10, 1957 · Page 3
Get access to this page with a Free Trial
Click to view larger version

Carrol Daily Times Herald from Carroll, Iowa · Page 3

Carroll, Iowa
Issue Date:
Tuesday, September 10, 1957
Page 3
Start Free Trial

Page 3 article text (OCR)

—V (jr Editorial-* Senator Johnson Serious Contender for ..This Missile Could Be Directed Into Any Part of the World . . Quite a few knowing politicians In Washington believe Sen. Lyndon Johnson of Texas, the Senate majority leader, intends to make a serious bid for the Democratic presidential nomination. . . • • In lawmaking circles, Johnson's stock is very high right now. Veterans of both parties have nothing but praise for his management of affairs in the 1957 session of Congress. He is viewed as a master legislative technician, shrewd In maneuver, superb at piloting a proposal to passage. But members of Congress do not nominate candidates for president. The important questions are whether Johnson really does want the nod. and what effective strength he might muster toward getting it. Effective strength means delegate votes in the national convention. That is the only testing ground that matters. No one, of course, can be sure exactly what is in Johnson's mind. But his behavior in Congress, particularly his increasing efforts to advance imaginative policy proposals, strongly suggests to his colleagues and to most observers that he wants the 1960 nomination. Though it is earty to say, the chances are good that he could put together a big block of southern delegates, possibly 300 or more. If he did that, unquestionably he would be a figure to be reckoned with at convention 'time. But he understands better than many that it is a long way from that point to the nomination. The Times Herald, Carroll, l«wl 4% Tuesdiy, Sept. 16; 1957 J After 10 Years of Talk— experts" consider it 'axiomatic in the Democratic party that a win ning candidate must pie acceptable to both the Nor^h and the South and!must be able to draw delegate strength from both ereas. ' Whether Johnson could achieve that objective is the < issue. His popularity in the Senate might be of some help in pertain western states.represented now by Democratic senators. Often, however, experience shows that It is the governors, not the senators, who call the turn at conventions. And some of the biggest and most powerful states have, no Democratic senators. « Broadly speaking, there are no clear signs, at this-time that Johnson would be acceptable to the North. Civil rights and other issues make it extremely difficult for him to gain a wide base in that sector. If, under air the expected handicaps? Johnson were to achieve countrywide support in his party in the next three'years, he would have to be hailed as master politician, as he is now called master lawmaker. Thoughts I develop about two weeks after ex- I thank my God, I speak with, posure. tongues more than ye all:—1 Cor. j Tne diagnosis of measles is not 14:18> | easy at first. During the time when Our whole life should speak tnere j s a \ Q i 0 f measles in a com- Disarmament Still Long Way Oft By JAMES MARLOW _ Associated Press News Analyst WASHINGTON M-If one could watoh the American-Russian disarmament talks from the moon- without loyalty to either side — they'd probably look like the longest conversational joke in history. They've been going on periodically for more than 10 years. The latest in the series began March 18 and broke up last week. Now they'll be resumed in the United Nations. No doubt they'll continue for years. Propaganda Benefit Neither side wants to be blamed for refusing to The talks probably will continue i fry or Russia giving up on th«, until both sides feel they have i ICBM until it has fully* developed reached a peak in their military scientific development and have built up an arsenal which needs no more additions. this weapon, put it in:''full prodtte*„ tion,, and then stofed' It In coni- fortable quantities. ' ""• , ' '* Terror Weapon " , * * * \ The reason is plain enoughVUw country which had this* weipVSi #** Then, if they do agree, it may be only on making no more weap-, . t ^^^mm^ ons. It's unlikely, in their present>du»Ively ««« Xf&ISittW- state of mutual suspicion, that! er - The J&J^SS tuZ„ ««,.«» »„ ,wwvu «r oivo weapons which have shorter raftgi they will agree to destroy or gt\e, * .. . . h miM . M • up weapons they've already acj or could be used to small wtf» v . quired at gigantic cost. I In the end maximum aniltottrff In short, disarmament looks a by b °th sides - giving each the long way off. ;P° wer to destroy the other^mAy on. *«. „„ 0 ^„u u a „- be as good as disarmament in dis- ™iooe Diamea: Both sides, for P e ' j couraging either from beginning talk disarmament.;"ced to develop the interconti- 1 a wfl = |^ which both would Ids*. '¥1 w Each will try to get the maximum I nenta ,l ballistic missile, which can; . .. . 1 travel unmanned 5,000 miles or That s a grim thought, and per* more. haps it makes for a lot more un- It could for instance travel from *f y Uvl . n * ** n i0b ? th had Each side in the recent talks: Moscow to New York, or vice ver-1 dLeiarmed * blt - Per haps Mt - laid down conditions which the|sa, in about 30 minutes and. with' The United States and Russia, other would not meet, although i its hydrogen warhead, wipe out a are at war now anyway—although propaganda benefit from whatev er it proposed and the other would not agree to these conversations were aimed at only limited disarmament as a starting point. city. The Russians claim to have the lead „ ...... They recently announced sue During all these years of talk- j cessful testing of such a weapon, j giance of the rest of the world ing both sides have been in a not in a shooting war. In the end it could be just as deadly. Both are struggling to win the alle* breakneck race to develop weapons capable not only of defending themselves but of annihilating each other, if necessary. That's more than the United'; So long as that continues, it is States has been able to claim al-j difficult to conceive of either though it soon may be able to do I yielding an ounce of its strength so. i I which might be needed if the hot It is hard to think of this coun- ! war came. E. E. Krouches Leave Lake View; Move to Cedar Rapids forth our thankfulness; every condition and place we are in should be a witness of our thankfulness. This will make the times and places we live in better for us. — R. Libbes. What Do You Pay for Gas? Try 'Toll Road Arithmetic' Bible Comment— Dare to Be a Daniel By PETER EDSON NEA Washington Correspondent WASHINGTON -(NEA) — Superhighway toll turnpikes — hailed only a few years ago as the solution for America's cross-country traffic congestion problems — are recognized today as a not-so- good answer. The reason is a simple problem in arithmetic which few car owners have taken the trouble to figure. struction, though they pay toll- road charges without protest. The 2.500 miles of U.S. toll roads that have been built are given credit, however, for showing the public the advantages of a super-highway system. Without the toll-road examples, it would probably have been difficult to get Congress to pass the 1956 Highway Act. It provides for building a 41,000- munity, youngsters who develop symptoms of a slight cold with fever should be kept at home and away from their playmates. The fever is slight at first, but goes up gradually. A dry cough is likely to be present and this \fends to become gradually worse. The rash which follows in a few days usually comes first on the forehead and behind the ears. From here it spreads rapidly over the neck, trunk and down the limbs. It is usually fully developed in two or three days. Fading of the rash starts in another two or three days. Those who are exposed to measles can be prevented from developing a severe attack by an injection of gamma globulin. Antibiotics may be helpful to prevent or treat some of the common complications. By WILLIAM E. GILROY, D.D. What are the typical hymns or songs that young people in the churches are singing? My own observation recently has been limited, but until a year or two ago I was active in interim pastorates in various churches. I was pleased to note a return to what seemed to me substantial and vigorous hymns of faith and life in contrast to some former senti- mentalisms and popularizations. In most churches, a common preference seemed to be for the "Crusader's Hymn." "Fight the Good Fight" and songs of martial (Time* Hftrald Nfw« Service) LAKE VIEW — The Couples Club sponsored a farewell potluck dinner at the Congregational Church Sunday honoring Mr. and Mrs. E. E. Krouch who moved Tuesday to Cedar Rapids. Mr. and Mrs. Krouch served several years as counselors of the young peoples' Couples Club and Mrs. Krouch was also a member of the FCCW. She I received a farewell gift from the cism of life today is of the sort ] congregation. New Books on Travel at Library By Miss Sadie Stevens (Carroll Librarian) New books of travel are arriving at the Public Library and will be of interest to armchair travelers. These books are ready for circulation. They may be reserved at the desk or over the telephone. of mass psychology that influenc es so many lives. It means an un willingness to be different, when one OUGHT to be different. On a high level it means following a social pattern which may have little to commend it. On a low level it means being "one of the gang," and has a lot to do with the problem of juvenile de linquency. Mr. and Mrs. Don Ellis of Pe- comia, Calif., and Mr. and Mrs. Eugene Osborne and Miss Beulah Osborne of Carroll, were Thursday evening dinner guests of Mr. and Mrs. Byron Provost. Mrs. Minard Peterson returned Saturday from the Loring hospital with her infant son. The baby born August 27, has been given the ized the South Korean Air Force, trained native pilots in combat, saved thousands of war orphans through what became known as Operation Kiddy Car. and established a permanent home for them on Cheju Island. Filled with realism as well • as compassion/ his is a sincere, provocative and often deeply moving autobiography. Glory, God and Gold, by Paul Wellman. During its four centur- A L, BJJ L . n, J vt si ies the American Southwest has Arctic Bride, by Wanda Neil; known much ^tence, from the Those who dare to be Daniels name of Ronald Jur S en , - - t . , , don't become delinquents. Mr. and Mrs. Keith Gerry and, We with particular appeal There is, of course, reason for! son, of Cedar Rapids, and Mr. and comformity to all that is right [Mrs. William Heckman of Lytton, and proper. There is no inherent j were supper guests Saturday night virtue in individuality and non- i in the Maurice Miller home Tolboom. In 1946 the writer left her home in Canada to .become the bride of the Hudson* Bay Company post manager at Po- vungnetuk in the Eastern Arctic. Her account of their two years spent at this isolated outpost relates with good-natured humor her adjustment as an inexperienced wife to some unusual problems of arctic housekeeping and: gives a warm and understanding picture of the Eskimo people who were her only neighbors. A pleasant, highly personal view of northern for women readers The Lord's Oysters, by Gilbert Byron. Brimming with laughter, warm nostalgia and affectionate The average charge for driving' mile interstate network of super on the 2,500 miles of U.S. tolH highways connecting all state cap- roads now in operation is a cent SO THEY SAY and a half a mile . If the average car owner gets 15 miles to the gallon out of the family bus, this means that he is paying the equivalent of an additional gasoline tax of 22.5 cents a gallon (15 miles at 1.5 cents a mile) just to drive on a toll road. ' When it is figured further that the average price of super-grade gasolines is now around 32.5 cents a gallon, this 22.5 cents a gallon of added costs brings the gasoline price equivalent to 55 cents a gal- llon for toll-road driving. "If more motorists took the trouble to figure this out," says one highway official, "there'd be no clamor for toll roads." There may be more safety on tell roads. They may be less fatiguing on drivers. There are no stop lights and there is more speed. But every one of these advantages has to be paid for. The New York-Chicago toll - road charge via the New Jersey, Pennsylvania, Ohio and Indiana turnpikes is nearly $11. Across New York it is $6.10. Across Massachusetts, $2.45. Kansas. $3.80. Bureau of Public Roads experts cite these factors as reasons why increases of one or two cents a gallon in state and federal taxes to pay for new free highways is cheaper than driving on toll roads would be. Yet car owners scream protests when gas taxes are raised to pay for new highway con- itals and most cities of over 500, 000. Its cost will be 28 billion dollars to the federal government, 2.8 billion to the states. The cost of this program in additional gasoline and auto supply taxes on the average motorist is estimated at about $8 a year. This is> considered cheaper than what motorists' added costs would be for riding on toll roads. Further recognition that toll- roads do not provide the answer on U.S. highway travel was given when Bureau of Public Roads re : cently announced that 2,100 of the 2,500 miles of existing toll roads would be made a part of the interstate network. There was no protest. In fact, the 15 states involved were all for it. New Jersey, We,st Virginia, Maine and northeastern Pennsylvania turnpike extension were the principal routes excluded. Final decision has not been made on the Fort Worth-Dallas turnpike. New Jersey' turnpike i. now carrying near-capacity traffic. It was recognized that a parallel route may have to be built by* the time its bonds mature and tolls are lifted. West Virginia, Maine and north-; east Pennsylvania toll roads have have not been profitable enough to pay interest oh their bonds. As a matter,of fact, some highway experts believe that all the profitable toll-road routes have now been' built or are under construction. Any executive who thinks he can.survive in such a situation mew incoming management) is making a dangerous and foolish blunder. — Job counselor Lon Barton of Chicago., Only one thing plagues me about playing (Abraham) Lincoln: I am forced to listen to the same macabrev jokes year in and year out.—Actor Raymond Massey. or marching quality still had . much acceptance. I conformity. It depends upon the| Mr. and Mrs. Everett Hull of j humanity. The Lord's Oysters is But I have missed some of the quality of the individuality, and; Fredonia, Kan., came Saturday I the unforgettable story of a boy coming of the conquistadors to the atom bomb explosion at Alama- gorda. A historical novelist retells that sometimes ignoble history in terms of the Indians. Spaniards. French Mexicans and Americans who participated in it, moved by their ambition, religion or greed. Among them were LaSalle, Sam Houston, Davy Crockett and Billy the Kid. Although the narrative contains some gaps, most of it reads as rapidly and interestingly as a historical novel. Television Story, by John Floherty. An interesting story about a fascinating new field of communications. This volume is readable —'quite suitable for young people, especially students. hymns that were most familiar in my youth, though I think that one satisfactory thing is that young people seem to be increasingly singing the great hymns of the what it is to which one refuses to j and visited until Monday morning: named Noah and the wonderful conform. j in the home of his aunt, Mrs. Clara 1 life he lived - a little like Huck I once knew a minister who. ac-j Mason. Mrs. Mason and her guests; Finn's, a little like Penrod's, but cording to a member of his con-; and Mrs. Ethel Hamm were sup- i altogether his own — on Mary- gregation, used the word "world"! per guests in the Walter Hammiland's easy - going Eastern shore church, the hymns that are for all i in a sermon 45 times, and every 1 home at Sac City Saturday eve- in the gentler era America knew as well as for the young. Uime pronounced it "wold." When ning. All were guests in the Rus-i at the century's beginning. I think that the song most t.ypi- i she asked him why, his reply was; sell Mason cottage Sunday. The I Souvenir, by Margaret T r u- cal, and perhaps most commonly that "a man must have some in- sung in my youth, in the Metho- dividuality." That sort of individ- dist circles in which I grew up, uality is sheer silliness, was "Dare to Be a Daniel." I One can be a Daniel without be- haven't heard it sung in many ing a snob or a Pharisee. Humili- years, and it isn't even in thejty and, consideration for others is hymnbook that I have most com- j consistent with strong convictions , monly used. Yet I remember how and firm conduct. The stronger ! persistently we used to bawl it out I our convictions the greater re- i at the top of our voices, and I j spect we ought to have for the Suddenly I had an urge to kill. —Clyde Walker, 14, charged .with fatal w sflabbing of schoolmate's father, in Chicago. .. I feel great. I'm not going to any hospital. — Mrs. Betty Warner, 22, of Cleveland, Ohio, after her baby girl was delivered by three policemen. The eye's retina really is a portion of the brain which grows out of the bony cranial cavity, according to the Encyclopedia Britannica. * * DR. JORDAN SAYS * By BDW1N P. JORDAN, M.D., Written tor NEA Sirvie* 'insulating and building materials first were made from sugar cane bagasse in 1920 in Louisiana. Michigan became a territory in 1805 with a population of less than 5,000, think it left a deep and permanent impression upon our characters and actions. I know at least that it did on mine. Dare to be a Daniel; Dare to stand alone; Dare to have a purpose firm; Dare to make it known. A commonly expressed criti- strong convictions of others. The Book of Daniel has long been a controversial issue among Biblical scholars, who differ as to its date and authorship, but there can be no question about the strong character that is its hero, or about what we mean when we say, "Dare to be a Daniel!" ite wife, Mumtazi Mahal, and of himself. Q — Only one baseball manager won pennants in both major leagues. Who was he? * A — Joe McCarthy, recently in Clifford Masons and son of Westside were additional guests. Mrs. E. E. Krouch was a 1:30 man take.s you into her confidence in this absorbing story of her life. You watch her grow up in Inde dessert hostess to the Lake View Pendence marked by laughter, humor and large family gatherings. You accompany her to Washington in 1934 when her father is elected to the Senate. After Pearl Harhor the pace of the Trumans' life grows faster. And as. her father begins to achieve national recognition, you see an interesting view of w a r t im e Washington through the eyes of a teen-age girl. Miss Truman tells of her trips to Europe, being presented to royalty, campaigning with her father in 1948 and entertaining the great and famous of the nations. She talks candidly of her singing career and discussed the difficulty common to all children of fa- | mous parents—being accepted on Bridge Club Friday at her home. Prizes were awarded to Mrs. Don Nelson and Mrs. Vincent O'Brien. Mr. and Mrs. William Corey of Dunlap were weekend guests of Mr. ,and Mrs. Lewis Corey. Mr. and Mrs. LeRoy Frank was additional dinner guests on Sunday. Gene Riddle was an overnight guest in his father's home Saturday. He returned Sunday to his camp in Colorado. Mr. and Mrs. Francis Clark of Lake City took Mr. and Mrs. William Schafer to Carroll Sunday rvening. The Schafers were dinner guests of the Clarks. The birthday of Mr. Schafer was celebrated. Mrs. Iver Fee entertained the; her own merits. In this warm, Pla Mor Club at the Bruner Cot- personal narrative, one of Ameri- tage Wednesday afternoon. She ca's outstanding young women had a number of guests: Mes- tells you of, her life, from child New Mexico has seven national forests, covering more than 13,000 square miles. Indians brought agriculture and pottery to Michigan about the start of the Christian era. Measles Often Taken Too Lightly by Many Parents It seems to me that measles in childhood is more often taken too lightly than any of the other contagious diseases. Although it is true that most youngsters have measles and re- Daily Times Herald Dally Except Sundays and Holidays By The Herald Publishing Company 105 West Fifth Street Carroll, Iowa JAMES W. WILSON, Publisher , HOWARD B. WILSON, Editor Entered as second-class matter at theJ B ost office at Carroll, Iowa, undr^ 1 ip act of March 3. 1879. Member ot the Associated Press The Associated Press is .entitled exclusively to the use for republication of all the local news printed In tills newspaper as well as all AP dls- patches. «» Official Paper of County and City " subscription Rates By carrier boy^eUvery^per week I At Carroll, Adjoining Counties - _ per year --7— -j.-^,—*IQ,QQ Carroll, Adjoining Counties, per month - .. -~ 1 .25 Elsewhere In Iowa, year,; ,„.„•„_., 12,00 Elsewhere In Iowa, month.. Outside Iowa, year. Outside Iowa, -~ Ninety per cent of the world's petroleum reserves are in the hands of non-Communist nations. •Horse racing became a favorite pastime in Greece at least 600 years before the Christian era. Q - The first yacht built In America bore the name of what president? A — The "Jefferson," named for Thomas Jefferson, was built in 1801, according to records. Q—What is a simbil? A—The white-bellied stork. 1 Q — Baseball is often referred to as the diamond sport. Is the playing area square, rectangular or .diamond shaped? A — It is a square, 90-feet between bases. Q — What is the Taj Mahal and where is it located? A—It is a mausoleum of white marble built by the emperor Shah Jehan (1628-165R) at Agra, India. It contains the tombs of his favor- ducted into the Hall of Fame, won i dames Dick Beck, B. J. Schwarz- 1 hood to the present day, in a sim- in the National League with Chi-jkopf, Don Nelson, Charles May- cago in 1929, and took eight pennants with the New York Yankees, from 1932 through 1943 mQntfc. cover without difficulty, it can produce serious complications. Although it is nice to have a lifelong immunity because one has had. it early, parents should take care if their children acquire it,,' Measles is caused by * a virus. Once in a while this'virus, attacks the, nervous system, "illf also 1 weakens the body so that bnqnchfr; pneumonia or bronchitis ,may sit in. This, too, often resiilts^in serious difficulties with tne ; luh|s. The ears also may be affected. Bed rest until the acute slag's of the disease is over should be enforced. Many of the serious complications come, from letting the victim out of bed too early. Plenty of fluids and easily digested foods should be given. The eyes are sensitive to light, so that reading and eye strain shoujd be avoided. Often it is well to have the shades in the sick room partially drawn. Tapld baths are helpfulln preventing itching and In soothing the skin, Constipation is common and should be prevented. The first symptoms o< measles Remember Way Back When nard, L. D. Bruner and Mrs. Har old Elias of Sac City. Mrs. Beck received the guest prize. Club prizes were awarded to Mrs. E. L. The trucking industry ranks Christian and Mrs Don Harper, second to agriculture as the larg- Mr. and Mrs. Willard Swanson est employer of labor in the Unit- 1 and , daughters, vacationed last ed States. wee ' t Wlt " frlen ^ s at Des Moines, J Altoona, Colfax and Pleasantville. Mr. and Mrs. Harvey Peters and CorneU University maintains daughter of Harlan were Saturday fulHime anthropological stations, evening visitors in the Swanson in India, New Mexico, Nova Scotia, Peru and Thailand. Eskimos, born and reared near the water, almost never learn to swim because of the coldness of the water. (Ridk WUkti Nineteen Seven— , Theodore Thomas has left for Cedar'Falls to enter in the freshman class at Coe • College. Nineteen Seven— Will Elliott will enroll this week as a student in Des Moines College. He is an industrious boy and we. predict will be a successful student % Nineteen Seven— H, F. Schirmer and family will soon go to Colorado to make their future home. Some time ago Mr. Schirmer and others went there and filed on claims. Nineteen Seven— A party of golfers consisting of H. E. Beach, J. L.-Miner, John Selzer and Stanton Sherman went to Boone last Friday and enjoyed a pleasant tpurney. Boone players made the best count though the record of Carroll players was creditable. A return contest will be played here next week., Parents Concerned About Daughter Aren't 'Snoopy' home Mr. and Mrs. Delmer Summers and daughter of Webster City were weekend guests in the Walt Summers home. pie and unaffected style Where to Go for Help, by Wayne E. Oates. This handbook of ready reference for guidance in the art of helping people is also a direct John Ptatts of Ames Visit Their Manning Relatives (Time* Herald Mews SerVlM) MANNING - Mr. and Mrs. John Pratt of Ames spent the weekend with Manning relatives. Glynis and Gail Pratt returned home with them after spending some time with their " grandparents, Mr. and Mrs. Hugo Wilhelm and Mr. and Mrs. O. E. Pratt. Mr. and Mrs. Dick Borkowskl and family of Jefferson were Sunday visitors in the Herman Pfolt- ner home. Mr. and Mrs. Walter Hargens and family of Spirit Lake spent Sunday with relatives in this vicinity. Donald Kingsbury, son of Mr. and Mrs! Lep Kingsbury, entertained classmates at a wiener roast at the City Park Saturday afternoon, Aug. 31, in observance of his birthday'. Mr. and Mrs. Delvin Stangl of Des Moines were overnight guests of Mr. and Mrs. Arved Stangl and family Aug. 31. Mrs. Liza Rutz of Milwaukee, Wis., and Mr. and Mrs. Lloyd Boers of Gray were Tuesday visitors with Mrs. Hattie Raebel and Mr. and Mrs. Marvin Wiemann. LADIES AID MEETS (Time* Herald »w» Service) WESTSIDE - Ladies Aid Sodr book of pastoral aid, written to the ( ety of St. John's Evangelical and layman himself. j Reformed Church met Wednes-> Battle Hymn, by Dean Hess.iday. Guests were Mrs. Emma When Pearl Harbor was borrtbed, j Dean Hess, then a Protestant minister in Marietta, O.. decided to join the armed forces,'not as a chaplain, but as a fighter pilot. He distinguished himself in action, flying numerous bombing missions over Germany Campbell, Mrs. Dora Hamman and Mrs. Bertha Doyle. Mrs, Henry Schoessler was hostess. Mrs. Art Elias, president, conducted the meeting. Lafayette's grave in Picpus during! Cemetery, Paris, France, was World War II and was recalled to j covered with earth from Bunker service in Korea, where he organ- 1 Hill. Corporations Turn Every Which Way To Round Up New Money in Tight Market By SAM DAWSON NEW YORK tffi - In scramble to round up a record amount of new money in a tight money market the nation's cor Somebody's darling daughter, age 15, thinks her parents don't trust her because they want to know where and with whom she goes out. In her letter she says, "Most of the girls don't have such snoopy parents." Snoopy is hardly a just word for parents who are concerned enough to want to keep track of where she is and who her friends are. Loving would be a kinder and fairer word. Sometimes a teenager thinks that parents who let their children go and come as they please lqye and trust their children more than do stricter parents. The reverse is true, of course. It's easy to turn a teen-ager loose, to feel no responsibility for what she does or what happens'to her. It Is much more difficult to try I porations today are turning every and guide a teen-ager through the j which way: difficult stage of growing up. Only! To the banks for short term parents who love their children try ; loans and long term credits, to 1 mon ths of the year, the Securities their hardest to help and guide the insurance companies, pension I and Exchange Commission noted t f.. U J* iL« •rtkh.iiui.l u..Ll<* noil ; " . . . ! of new products demanded in a the j highly competitive age. Only a small share of the new capital is being raised in common or preferred stock. In reporting a record offering of more than 34 billion dollars of corporate securities in the first three them. ! funds and the general public will She'U Thank Them j ing to invest in corporate bonds. So don't, Miss 15, make any mis- j notes and debentures, to the pub take about the reason for your par- j lie with offerings of new common ents' concern for your welfare and stocks—and Increasingly to their safety. They aren't being strict for own shareholders with offerings their own enjoyment. They are of rights to buy more stock. only doing for you the things that The demand for new capital is! P hase during much of the time you will thank them for when you immense. The ability of the public j corporations had^ raised their are just a few years older. and the financial »lnstltutions to If they loved you less they might take the easy course of letting you do as you please and taking the consequences of any mistakes you might make. Instead, they are trying to make the road from childhood to adulthood less hazardous for you to travel. m W»m ..MMCXf* NBA sWrvtosv tooJ that 800 million dollars of this was in equity issues, leaving the lion's share to bonds, notes and debentures. But by midyear, aided by a stock market that was in a rising total of new funds from common ted the companies $1,006,862,819 in new money. This was nearly as much as 41 listed companies raised in all of 1956, and more than 44 got in all of 1955. The rights allow a shareholder to buy more stock at a price below the then-current market price or to sell their rights for cash to outsiders or to other shareholders. The Exchange reports that in all 27 cases the prices of the stocks at mid-year were higher than the prices paid for the additional shares when the rights were exercised. The largest amount of new money raised this way was $231,supply it is huge. More than 7*4 j stock far above the level of re-'049,060 on 1,050,223" shares .offered billion dollars of corporate finan-! cent years. cing was absorbed in the first half of 1956. Corporations want the money to finance their record expansion programs, to carry inventories, to keep production lines rolling, to acquire other companies, to speed research and development The Exchange, official maga* zine of the New York Stock Exchange, reports today that 27 companies listed on the big board offered their share owners in the first half of this year rights to acquire 24,024,520 additional shares of common stock. This neV by International Businej^t; Ma- % chines at $220 each. SocMsMoWl M Oil was second with $ ? ~ " from 4,379,758 shares place, Anaconda Co, 337,036 shares to raise Trading in rights Volume for the Mjtfr*

Get full access with a Free Trial

Start Free Trial

What members have found on this page