Northwest Arkansas Times from Fayetteville, Arkansas on July 2, 1952 · Page 12
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Northwest Arkansas Times from Fayetteville, Arkansas · Page 12

Fayetteville, Arkansas
Issue Date:
Wednesday, July 2, 1952
Page 12
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I Momnwn AKAMAI t, I«M National Deficit Less Than Half Truman's Prediction Spending Fails To Hit High Once Expected Miss Universe Receipts Brought In By Taxes Also Down, Report Shows '. Washington - (/Pi - A $2,400,000.000 l.TB in foreign aid outlays hold the U.S. nudgcl deficit for fiscal '1B52 tn $1,01fi,840,378.10-- Ins than half of President Tru- min'i January forecast. Government costs in all came to IM. 100,000,000 for the 12 months rndcd June 30. Although federal spending did not reach the heights predicted by Truman, it jumped SO per cent above fiscal 1051, and lopped ill previous years in which ttiere was no full-scale war. . Analysis of year-end figures announced by the Treasury late yes- ferdiy showed spending on military ind economic nld for other «ountrl« in the mutual security program came to only 414 billion M « budgeted $6,900,000,000. ; Outlays for the U.S. military i»rvl«« ran almost 000. million «hort of the budgeted 30 million lhakini the second biggest contribution toward holding total spond- ins $4.700,000,000 below the president's estimate of last January. Other factors: Veteran's benefits cost .'100 million less than the budgeted $9.200.000,000; interest payments on the federal debt ran 100 million less than the six billion budgeted. Tax Receipt* tinder EfUnile Tax receipts totaled $62,100,. HWMIMHI Gives Views Vn ywlMPJVrOTllvJ nvWJ 000,000. or SSI totaled million short of Truman's forecast. Income tax receipts were 600 million below his estimate. The lax collection was huge, however, by every other slam-lard--SO billion dollars ibove the World War II peak and 2» per 1 cent alxn'c fiscal IBM, as a reiult · of increased rates and new leviei. | The bcHer-lhan-expocled out- eome of fiscal 1952 promised to make it caster for the government to bear the heavier deficit anticipated for fiscal 1883. From an economic standpoint the inflationary effects of the four-billion-dollar deficit were practically canceled out by a four- billlon-dollar surplus in the non- budgeted trust funds optrated by the government, notably the social security fund. This means that what the government pumped Into the economy in budget outlays is soaked up agiln on trust fund intake. Furthermore, the surplus in the trust accounts was used to meet budget expenses not covered by tax receipts. For fiscal 1953, the president has forecast a $14,400,000,000 deficit, but trends In recent months .ndlcato he may be as much too high on that as he was in predicting an $8,200,000,000 deficit for fiscal 11)52. A floating iceberg has only one- ninth of its bulk above the water. says the group, if w o u l d determine Raisin dried Wa«hlngton-(^-Avcrell Hsrri- man says if he is elected president he will study the possibility of creating a civilian group to review (constantly any news withheld from the press by government agencies. Harriman established, whether withholding of the ne was "justified in the public interest." He commented In a telegram to Richard F. Pourade, managing editor of the San Diego Union, in reply to Pouradc's request for his views on a free press. Grmb Are Made By Paralysis Foundation New York-(p;-Grantx to 27 institutions totaling $2,395,039 were announced yesterday by the National Foundation for Infantile Paralysis. Thc'foundation said the money, one of the largest amounts granted by the organization, was for research in disease prevention. for treatment, and Tor professional education programs. Missiles Reach Great Speeds In Laboratories Defiver-(/P)-Tremendous n e w missile speeds, one of which theoretically equals 2,15 times t h e ! ivj velocity of sound at sea level, a r e j ,, r 3elng produced in American laboratories. Dr. R. J. Sccger of the National Science Foundation told the Amor- lean Physical Society the extreme top, 180,000 miles an hour, ·*«·, achieved at th,c Los Alamos Lab- ? TM«nd. JB-ycar-old blonde Arm! KuUsela, wears the ctown d r ° bcs "' Miss Universc " immediately after winning that title Los Angeles shc was chosen from tnir , y jr]s rc r * 5enll many countries at the climax of a week-long beauty pageant (AP Wircpholo). OPENING July 3,7?; M. Under New Management Fayetteville's Nationally Famous Bubble Club Highway 71 Nerth Phone 2116 *An Orchestra, July 3, 4, 5 ·^-Completely Redecorated in colors you'll like *0pen 2 P.M. to 1 A.M., Monday through Saturday ·^Managed by your favorite Hostess . . Mrs. Jimmy Morgan formerly--Rockwood Club. 3ee Us-Will You?" Time To Decontrol Politics, Not Prices, Says Bernard Baruch Norfolk, Va.-W)-B c r n a r d M. Baruch said today that this is the time to decontrol politics and selfishness--not prices. The financier and advisor to presidents ad- .dressed the Rraduating class of the Armed Forces Staff College here. "There has been much talk of the vital necessity for preventing further inflation," he said. "The actions of both the executive and congressional branches-not their talk, but their actions- have operated to encourage and legalize inflation. "The two branches of government differ in that each favor? slightly different pressure groups. Grange Meetings Held, Officers Are Installed The third anniversary, of the Benton County Pomona Grange was observed Monday with a meeting at the University Fine Arts Building. At the same time officers of the newly-organized but the effect of their combined actions has been a race which has resulted in cheapening the value of the dollar and all outstanding savings in every form. "This is not the time to decontrol prices and other mobilization disciplines. It is the time to decontrol politics and selfishness. This is not the time to scuttle and run. H is the time to stand fast and see the struggle for peace | through." Baruch emphasized the necessity of strong military defenses and said that the present states of "neither war nor peace in which we find ourselves" require far- reaching adjustments for military leaders as well as civilians. W a s h i n g t o n County Pomona Grange were installed. Dean Lippert Ellis of the College of Agriculture was the principal speaker. Officers of the Washington County Grange, Installed by Mrs. Mary May of Rogers, are John I. Smith of Fayettcville. master; Cecil Myers of Fayetteville. overseer; Mrs. Laura Willcy of Springdale, lecturer; E. D. Wholforri of Springdale, steward; -Leo Gate, assistant steward; Mrs. Nora Linglebach, secretary; C. C. Coker, Rate keeper: Mrs. Ftina Johnson, ceres; Mrs. Alline Fuller, flora; Mrs. Mary Gate, lady assistant The Ben Hogan Story... Th« Greatest Comeback in the Tonite 7:00-10:15 History of Sports ! ! ! ! Here's a picture that will live in your heart forever FOLLOW GL»| FW«K BUIB Miniature Golf Pony Rides it C«rtMN 4 Newt TflDRIVEIH f Giant Fireworks Display Thursday July 3rd 10:15 P.M. ·A'American Flag ^·Niagara Fall's ^-Bombardment ^Floral Fountain ^Silver Vheel ^Spiral Wheel Plus Large Aerial Display of 9 in. It 15 in. Shells ·ring the Kiddies and come out early--en- fey a geod show plus · spectacular firework* display at regular MmrwiM prkes! FNH for young and e4del*e.. . . . WANT TO LAUGH Then DONT MISS The THEATRE SUMMER WORKSHOP Production The Whiteheaded Boy Every family has its fairheaded boy - and what a boy is Dennis! He's a menace!! I'NIVERSITV THEATRE JULY 9,10,11,12 Box Office Opens at 1:00 JULY 3 and re-opens JULY 7 for each afternoon thereafter Phone 2020 steward; and W. A. Martin, John Ullery and Jack Diggi, executive committeemen. J. L. Moore of Gateway, state master, presided at the meeting. Members of the Youth Degree Team were introduced and the fifth degree of patrons of husbandry was conferred upon a class of candidates. · Dr. Ellis discussed the importance of food production to world peace. H» said that both the Food and Agricultural Organization and the Point Four program are making progress. He told of the success of the University's Point Four project in Panama. Last Saturday the Madison County Pomona Grange met at- Muntsville. Fifth degree obligation was given to Master and Mrs. B. Greve of Jones Grange; Master and Mrs. W. E. Vandcrpool of Creek Grange and Bill Parson of whorton Creek Grange. A committee was named to arrange for a Grange project at county fair this fall. Committee members are Mrs. Grcve, Mrs. Edith Hargis, W. E. Vandcrpool, Mrs. Anna Berry and Mrs. Marie Cook. Aircrew hi UK TOfC8--It para. EVERYTHING M SWfUfl FAYETTEVILLE IKON and METAL CO. AVI ^fl tr »·* «a Wuihnpnof and Fteproof BwHitifal Colon PHOWE Mil FOR run ESTIMATE CLARK VENETIAN BLIND AWNING CO. If WINilM HUDSON REPAIRS A SPECIALTY See BOB HALL for a Free Estimate on this Popular Car. W H I T E L E Y ' S G A R A G E Corair of School fc Mountain BUY YOUR TELEVISION From a Television Service Station SMITH RADIO SHOP HOUSE OF HORRORS ALL C-O-O-L Just FOR YOU! COLORED CARTOON LATE WORLD NEWS! PALACE-HOW DONT FAIL TO SEE THIS PICTURE! 0 7 A D K Now W L ft K It SHOWING K«|M r en WATCH HERE FOR SPECIAL EVENTS! DONALD O'CONNOR » ^ ^ v ^ " Buys WALLPAPER FOR A 10 x 12 -FOOT ROOM! WATCHING BORDER ALL THIS WEEK, YOU CAN CHOOSE FROM 85 LOVELY PATTERNS IN 4 LOW, ROOM-PRICE GROUPS and FOR AS LOW AS $1.62. BUY ENOUGH SIDEWALL and MATCHING BORDER FOR A 12xl2-FT. ROOM! BRING YOUR ROOM MEASUREMENTS ROOM GROUP ONE choose from 5 PATTERNS ONLY AIL NON-FADING COLORS ROOM GROUP TWO choose from 15 PATTERNS ONLY YOU GET 10 ftOUS SIDEWAll 18 YARDS MATCHING BORDER MOM AIL NON-FAOING COLOR ROOM GROUP FOUR choose from 30 PATTERNS ONLY YOU acr 10 ROLLS SIOfWAil 11 YARDS MATCHING lOftDtft SIMFUT-WATMFAST * COMPLETE * WALLPAPER TOOL KIT INCLUKS ALL THE TOOLS YOU NEED TO HANG YOUR OWN WALLPAPER WAS $1.69 ** $139 · UM ROOM GROUP THREE choose from 35 PATTERNS ONLY YOU GET JOJOUS SIDEWAIL 18 YARDS MATCH/NO BORDER MOM SIWAST -- WATEdFAST Keg. $4.40 Value! STEP LADDER HANDY 4-FT. SIZE * CONVENIENT BUCKET SHELF * STEEL SAFETY HOD UNDER EACH STEP S-FT. SIZE ..... S3.99 fa. 6-FT. SIZE ..... 14.79 Eo. COOK'S PAIN _ _., *«* Sfde Square Phone 526

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