Alton Evening Telegraph from Alton, Illinois on July 29, 1963 · Page 3
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July 29, 1963

Alton Evening Telegraph from Alton, Illinois · Page 3

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Alton, Illinois
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Monday, July 29, 1963
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Page 3
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29, 1963 ALTON EVENING TELEGRAPH t>A(3I TttKEtJ -.-^.....^.V^^.^ To Prevent Recession.. * Tax Cut Vital, U. of I. Prof Warns URBANA, in. (special) - Tax cuts arc iiccessnry to stabilize the nation's economy Intc this year and to prevent a recession In 1064, warns V. Lewis Bassie, University of Illinois economist. He s u p p o l 1 1 s the view of the Kennedy Administration that a tax reduction Is needed lo push Us ahead toward full employment and believes It also may be Inexpensive insurance against economic disaster. The danger of a new recession arises from the fact that several Important fadors are now overextended and therefore are headed for a downturn, said Bassie, who has expressed similar views as a speaker at First National Bank dinner here. "For the first time In the postwar period, all the cyclical factors —atitos, housing, Inventories, and capital outlays, aided and abetted by credit expansion — arc working together," Bnssie reports. For this reason, a new recession, with all cyclical factors turning down in concert, might prove to At South Mihmukee Piasa Indian's Drums Win First in National Contest The drum section of the Piasa Indians Drum and Baton Corps won first place in the National Section competition of the Spectacle of Music over the weekend at South Milwaukee, Wis. It was the fourth straight year that the corps has won the National Section championship. Competing against corps from all over the United Stales, the Indians placed fifth in the baton-drum corps category, which was won by the Deb-U-Letles of Sharon, Pa. The girls also placed fifth in the Women's Open National Drill team Competition, which was won by St. Joseph's Academy, D e s Moines, la. Saturday afternoon the girls participated in a three-hour parade, and appeared at the Spectacle of Music that evening. Sunday morning the group competed in the open parade competition in the V-J Day Festival $200 Loss in Break-in at Gas Station About $200 in cash and checks was taken from the Ridge Street: Service Station, 324 Ridge St., over the weekend. Charles Lessner,, proprietor said the money and checks were taken from a desk drawer on which a lock hasp had been broken. Entry was made by breaking a window in an overhead door. The thief reached in and unlocked the door. Charged After His Car Strikes A Utility Pole David R. Matleson, 39, of 1917 Central Ave., was charged with traffic violation after his car struck a utility pole in the 100 block on W. Elm Street Sunday evening. Police said Malleson was driving east on Elm when the car began to skid on the curve in the 100 block. Ho applied the brakes, police said, and lost control of the car, which jumped a curb and hit the pole. Quarry Pickets lu 19th Day at Reliance Firm Picketing is in its 19lh day at he Reliance Whiting Co, quarry, 1Glh and Alby streets, and. no meetings are set for negotiations. The contract between the company and five members of the Op- rnting Engineers Union, Local •520 B, AFL-CIO, expired July 1 and negotiations failed to bring iboul an agreement. The union men walked off the job July 10. The company said today it "has not been willing to meet union demands and the union has not jecn willing to accept the com- jany offer." lit Woodstock, 111., where they look the top honor trophy for ha- ondrum corps. The best drum md bugle corps award in the wrado went to the Cacullers of Chicago. Following the pageant of drums n the drum and bugle corps con- Tense Nerves Block Bowels Your colon has nerves that control regularity. When you are tense or nervous, normal bowel impulses may be blocked—and you become constipated. New COLONAID tablets relieve tliis misery with a new principle—a unique colonic nerve stimulant plus special bulkingaction as recommended by many doctors. Result? COLONAID puts your colon back to work—gently relieves constipation overnight. You fool great I Get clinically-proved COLONAID today. Introductory size 43* The Reader's Digest SPECIAL Introductory Offer For New Subscribers! Now 'Til Aug. 14! 1 5 FOR ONLY MONTHS $4 SMITH'S NEWS AND TOBACCO 3515 STATE ST., ALTON Plvono HO 5-0782 Reader's DlKOSl ReprcscnUUIvc ENTIRE STOCK Men's Short Sleeve SPORT SHIRTS Reg. $1.98 $1.49 Reg. $2.98 $2.49 Reg. $3.98-$4.98 . . $2.99 Reg. $5.98 ..... $3,99 MEN'S WALK SHORTS $O" and Swim Trunk?, Reg. $3.78, $4,98 *• BOY'S SHORT SLEEVE SPORT SHIRTS , $8.08 *1.9P LADIES'DEPT. - % to 1/3 OFF Swlmsuits, Shorts, Jamaicas, Blouses, T-Shlrts CHILDREN'S DEPT, - H!o 1/3 OFF ALL SUMMER CLOTHING ALTON PLAZA ANP WILSHIRE VILLAGE Open Monday Nighti 'Til 9 p.m. ost Sunday evening, the Indians ourdcd their chartered bus for ome, They had left Alton Thursay morning for the contests. The group will now rehearse for ie Illinois State Fair Drill Team ompelition, the Chicago-land Muc Festival, and the four state eglonals, local parades and cx- ibilions to be held during August ifore school is resumed in Sept- I em her. be economically unmanageable, Respite tax cuts planned by the administration. Favorable Factors There are some favorable factors, he points out, that might pre serve the upward economic trend. Further Increases are expected in buslnesso utlays for planl ami equipment, government spending, and the growing use of credit by consumers who have benefitled by strong Income advances since 1961. Nevertheless, even with I h e support of these favorable factors, an economic slowdown must be expected, Bassie staled. "Many optimists now feel that a tax cut is unnecessary despite continuing high unemployment, and some add that we should tighten up on credit and raise interest rates instead." Ituscd on Arithmetic Much of this optimism, he holds is based on arithmetical extensions of temporary spurts in business and is therefore unrealistic The potent negative forces in tin economy can result in a levelling off, if not an actual downward adjustment. "Effects of negative influences will not necessarily be ovcrrid- ng, but they are certainly irn porianl enough to change the character of the upswing experienced so far in 1963," Bassio writes. His report is a feature of the fin al summer issue of the Illinois Business Review, publication of the University of Illinois Bureau don't :>f Economic and Business Research. Publication ill be resum- PRESCRIPTION SERVICE PHONE DU 4-5001 DRUG BETHALTO RIGGI ed in September. Eat 3 mealfl a day — lose 6-10-16 Ibs. Delightfully delicious Slim-Mint helps control ftppetlt*. ~ " Makes reducing ea«- ler, mote enjoyabl*. Safe. At Thrifty Drill?. SLIM-MINT GUM m DO OUR OWN FINANCING AT SLACK FURNITURE and APPLIANCE 00. 203 W. Third St.—Downtown Alton LOUR Terms—Mnny, Many Months to I'ny off run 011 your vacation without TRAVELERS CHEQUES Don't let the thought of losing your money ruin your vacation this year. 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