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About The news-review. (Roseburg, Or.) 1948-1994 | View Entire Issue (Dec. 8, 1949)
6 Tht News-Review, Roteburg, Ore. Thurs., Dec, 8, 1949 CONGRESS ASKS WHY? Americans, With Record Savings, Refuse To Risk Business Investments By SAM DAWSON NEW YORK VP) There eem to be something about a bus! ness risk these days that makes It poison to many Americans. Brokers have been batting their, brains out over that one lor sometime, and now even congressmen are getting curious: Why are Americans,' with record savings piling up, putting their money Into almost everything but business investments? A Senate-House eonomlc sub- Education Structure In Danger, Dr. R. B. Aden Soys SPOKANE, UP) Dr. Ray. mond B. Allen warned an inter national group of educators here that the entire structure of edu cation is in danger. Dr. Allen, president of the' Uni versity of Washington, gave the committee has opened hearing! on possible reasons. The Invest ment Bankers association, meet ing in Holywood, Lla., is taking stock of the situation. The congressional subcommit tee is likely to hear testimony from financiers pointing up some o: the things they think govern ment is doing which hobble stock sales the rules and red tape concerning selling securities, as well as the increasing regulation of business which gives some in vestors the Idea that the govern ment Isn't anxious for business to Prosper for the stockholders' enefit. The committee might even hear from some present stockholders who grumble about the small dividends some companies have paw. "wny nsK your money, they ask, "if you don't reap big gains when times are good?" raxes Mso Deterrent And the committee might hear from many who believe that tax policies have made the risk a one-way proposition. The Inves tor takes all the risk. If the busi ness flops, he loses his money. If it prospers, federal, state and local governments dip their fin-, gers deeper and deeper Into the till. Against this the New York stock exchange has been waging battle, Its president, Em 11 Schram, before his illness was stumping the land trying to sell investors on the idea of buying common stocks, many of which offer attractive yields on the money it takes to buy them on his exchange. As the nation's In dustries grow, American business will have "a larger pie" which Schram savs should be "distrib uted more widely." He champions stockholders who complain about double tax ation of dividends first the la come tax on corporation earn. ings from which dividends spring, and then the income tax on in dividuals receiving the dividends. Schram has urged Congress to allow "Individuals .to take credit equal to 10 per cent of their dividends on common stocks when computing their income tax liability.", 8tates Also Grabbing The federal government isn't alone In this. States are taking an ever greater toll on business. In the 1949 fiscal year states got more than $600 million from cor poration Income taxes, the na tional industrial conierence Doara reports. State legislatures this year made 52 upward revisions in taxes, and in addition six states found new major taxes to add to their lists. The federal reserve board says about six million Americans own some corporate stock or stocks. Sales have picked up this year over last. In the 11 months of 1949 so far, corporations have sold 198 new issues of common stock for $573,984,000, the Invest ment Dealers Digest reports. In all of 1948 they sold 245 issues lor $497,937,000. But oacK in 1929 common stock sales almost reached $41 billion. And this year the public has a larger in come available lor investment. What has scared the public off? First of all, of course, was 1929 itself. Many people still re member the stock market col lapse. Another thing is the cur rent concentration on security. People buy Insurance, annuities, government bonds, and deposit In insured banks. They also pre fer corporate bonds with fixed return to taking the risk of get ting dividends on common stock. principal address at the opening of the northwest regional confer ence on higher education. One of the greatest problems facing the world's educational system is to maintain a free ex change of information and thoughts, Dr. Allen said. "It may be more of a , problem in the future than of the present," he said, "but unless we solve- It now It may warp the whole structure The speaker declared that It Is a problem of retaining the ne cessary secrets of scientific re search. TO Will be open Friday evening December 9th and 16th and evening of Monday to Friday December 19th to 23rd, until 9 o'clock. All other dayi 9:30 to 5:30. 1 Our Lay-A-Way Plan may be used as usual. Penney's salespeople are courteous, helpful, well trained and will always try to please you. A$ In former years we' are happy to wrap your packages for mailing. SHOP PENNEY'S FOR VALUES, ASSORTMENTS AND QUALITY. U.S. Scientists Discount Reprots Of Export To Reds CHICAGO -m University oit Chicago atomic scientists mini mized the importance of uranium exports by the United .States to Russia in 1943. They commented on the dis closure by the State department that licenses were issued for the export ol urano-uranic oxide uran ium nitrate, uranium metal and "heavy water" (deuterium). The men' and their comments were: Dr. Harold: Urev. a lenrtlne mi. clear physicist who helped make the llrst atomic bomb the uanl- um listed in State department reports were stable eomnounrk of "virtually no Interest, interna. tlonallv. for exnlnslve nurnnM during 1943. "In addition, the weights al lowed by the export licenses were so small as to be insignificant in relation to the amount npprieri tn produce a bomb. i "I think we had to keeD a trickle of all those chemicals flowing during that period. II we had shut them off entirely we would have told the world they had some new value which sev eral years earlier they had not." Dr. Thorfin R. Hogness, direc tor of the university's institute of radio biophysics all the mate rials listed by the State depart ment were common chemicals before the war and "we sent all kinds of that stuff abroad then. "They could have been used lor experiments, but in those days uranium was a common laboratory chemical. They could have obtained the same com- pounas elsewhere. Dr. Samuel K. Allison, a key atomic scientist and professor ol physics at the university "those chemicals were lalrly standard items of trade in 1943. If they had been extremely purified, some Idea of our experiment might have been exposed. 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