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About La Grande evening observer. (La Grande, Or.) 1904-1959 | View Entire Issue (Aug. 13, 1958)
Observer, La Grande, Ore., KREMLIN MEETING Soviet Premier Nikita Khrushchev shakes hands with Adlai Stevenson (rignt), twice defeated Democratic Presidential candidate, during their meeting at the Kremlin in Moscow. ' (NEA) Investment Clubs In U.S. Transact $2 Million Monthly NEW YORK I UPI 1 - Hero's something you can't do in Soyuz Sovetskikh Sotsialisticheskikh lies publik. . . You can't join an investment club-vno stocks, no stock cx- chai)ge,,and no spare cash to buy stock$ cVeh. if they were there. s That unpronounceable name above, needless to explain, trana lates, to the Union of Soviet Re publics, a (big place lint ot poor people who theoretically own the means, of production, distribution, and '.excliang'J hut don't. '.OVcr lierc in the U.S.A. more and more .people arc becoming real capitalists owning stock of plants that make steel, autos, re frigerators, electrical appliances ' of,: all kinds, etc. and they own some, of lh;tse things loo. .'.Many, of Ih'em arc members of one of the 12,000 investment clubs which, ; 'account , for investment, mostly in common stocks, of some $2 million o. month. . , ' Wall .S.lVeeters regard these clubs, very hifcrily not only as a source, qf demand (or the slock market but also because of the training in., things ( financial that go along ,with them. .In many cases tlie clubs ate boing ,ajyise'd ,l)y .New York Stock Exchange vhiembiir firms. There's the ca e of 'lie tori mid dle aged ladies 'who, belong to, the Plaza Investment Club of Kansas Presley's Mother III; Singer At Bedside .'MEMPHIS, Tcnn. (UPD-Army Private Elvis Presley remained by liis critically ill mother's bedside today on a seven-day emergency leave from Ft. Hood, Tex'. '; His mother, Mrs. Vernon Pres ley;, is hospitalized with a liver ailment. Her condition was de scribed as "critical'! by her phy sician, Dr. Charles Clarke. Presley flew here from Dallas Tuesday night. i! . SET TEST BLASTS " Washington upd offi cials of the International Geophys ical, Year announced Tuesday a series of test explosions will be set off in Lake Superior to determine-why the pull of gravity is stronger there than normal. Trade Measure Pleasing To Administration WASHINGTON (UPI I The administration today hailed final congressional .approval of a four ycar extension of the reciprocal trade bill giving President Eisen hower most of the tariff-cutting power he requested. Commerce Secretary Sinclair Weeks said the bill, which cleared die Senate Monday by a 72-1(1 roll call vole, was the "best yet, something we can really do busi ness ,wi(h." The bill would permit the Presi dent ,10 sign trade agreements cullirtg U. S. tnrlfrs as much as 20. per cent over the next four years,, btiL reductions could not exceed 10 per ceiil in any one year.. : ' " ' '..Vj '4' ef mm,mmsssmm hi n.,r ; STREAMLINER The new supcrllncr Canberra, when completed, will be (he largest British passenger vessel to be built since the sister queens, Elizabeth and Mary. The keel of the craft 'has been. laid at a shipyard tri Belfast; Northern Ireland. Modero, sweeping .design, uncluttered . by normal funnels, will mark the 45,000 gross-ton ship. Scheduled for completion in 19G0 ot i A cost of 42 million dollars, the Canberra will be powered by a turbo-electric propulsion system ', and wili carry 2,250 passengers and a crew of 1,000 at a cruising speed of. 27i knots on the . British-Austrolian-Paciltc run. Wed., Aug. 13, 1958 Page 2 City. Missouri. They listen to their broker's advice, but they've got to be shown. They wanted to invest In stock of American Zinc, Lead & Smelt ing Co., 'so they travelled in a body to Oklahoma to the site of the company s lead mine. Right down the 300-foot shaft they went on a tour of inspection. They ap proved and the club invested in the company s stock. Market men in the financial dis trict's canyons here Are doing some research on the Plaza Club, The ladies, they find, formed their club with nothing more than a desire to put their small extra funds to work in an enterprising way. They limited the club to 14 because that was a number which could meet at the various homes conveniently. Their brokerage firm drew up an agreement for them and out lined a plan of operations. : They studied stale and local laws and agreed it would be wise lo incorporate the club. Meetings are held monthly at various homes of the members over pot-luck dinners. They study stocks, analyze company earnings reports and prospects and decide by a majority vote how to invest the $140 a month of their pooled resources of $10 each. - " - So far (he club has bought stocks of seven diffenl corpora tions, and has a tidy profit of ten per cent. , This is one of the smaller clubs of modest means. They run much larger. For example, in Detroit, the home of Ihe National Association of Investment Clubs,' there is a big. prosperous one. It has in vested a tolul of $20,000 plus $34,000 in reinvested earnings since 1041. Members of this club have withdrawn more than $22,000 and still the club has a portfolio of common slocks worth, at cur rent prices, a total or $(15,000. Keith Funston, president of the New York Stock Exchange has a good word for investment clubs: ; "Investment clubs offer a course in practical economics. They give small groups of friends and business associates t h c chance to pool their information and judgment and, with the help of member firms, to invest a modest amount of money." Extension House passage last week was by a lUl-50 vote. Eisenhower had p I a c e d lop priority on I he measure as a weapon in this country's efforts to meet the economic offensive the Soviet Union has mounted in recent years. It was opposed by lawmakers from regions with in dustries faced by low cost for eign competition. 1 Weeks predicted Ihe measure would lead lo "increased sales of American products and additional jobs." He said it "announced to all nations ill clear, positive terms that , the United Stales is pre pared to exercise even greater leadership in world trade.'" V rxtneimwwjwluw1. i " " Function Editor's Note What is the United Natiens General Assenv bly? How does it function? What are its powers? What is its role in the current Middle East crisis? Here in simple terms are the answers to these and other C-iestions that may arise in con sideration of the General Assem bly's role in the debate between . East and West. UNITED NATIONS, N.Y. (UPI) The United Nations General As sembly, about to be given the task of solving the Middle East's problems, is a unique parliament that rules by moral force. Unlike a summit meeting of heads of government, first sug gested to tackle the Middle East crisis, it commands no divisions to carry out its decisions. Unlike the Security Council, where Russia's veto blocked Mid dle East action, it cannot issue orders nor call upon its members to provide troops to enforce them. "The General Assembly," the U. N. charter says, "may discuss any questions or any matters within the scope of the present charter. . .and may make recom mendations to the members of the United Nations or to the Security Council or to both on any such questions or matters." -, Nevertheless, the assembly, lim ited to the power of making mere recommendations, has' proved it self a formidable force for keep ing or restoring peace ip situa tions where the veto-ridden, Secur ity Council could do nothing. Each of the U.N.'s 81 members has one vote in the assembly. Its decisions on any but purely pro cedural matters are taken by a two-thirds vote. There is no veto, that power being reserved to the Big Five members in the Security Council. This means that with all mem bers voting 54 votes is required to carry any resolution put before the Assembly. . , . But U. N. members are not re quired to cast simple "yes" or "no" votes. They have also the privilege of registering an absten tion. Such abstainers are not counted in the overall vote, and thus each abstention lowers the to tal required for a two-thirds vote. The United States hesitated be( forc taking the Middle East ques tion ' to . the General Assembly. With the nine-vote Soviet bloc against it and many of the 28-na-tion Afro-Asian group opposed to the landing of American troops in Rejection Of Social Bill Is Forecast WASHINGTON (UPI - Sen. Frank Carlson (R-Kan.) said to day he thinks President Eisen hower will cap this heavily-vetoed session of Congress by rejecting an election-year Social Security bill as "too inflationary." Carlson told United Press Inter national he believes tlie Senate Fi nance Committee will approve arid Congress will pass the Social Se curity bill .without eliminating a public assistance section objected to by tlie administration. , Republicans generally felt the President's latest flurry of vetoes marked - his determination to ''stand firm" against inflationary trends. Carlson contended that if the 28B-milllon-dollar public assist ance part of the bill was inflation ary, "then the 700-million-dollar old age assistance section is in flationary, top." The President Tuesday vetoed a nuclear icebreaker authorization bill and an asbestos-fluorspar pur chase program measure. The President claimed the 60-million-dollar bill to build the icebreaker failed to consider the mounting budget deficit facing tho govern ment. , , He said he vetoed the proposed extension oi Iho asbestos and fluorspar programs largely be cause of their effect on the do mestic acid-grade fluorspar pro ducing industry. BOUND FOR U.S. , MOSCOW (UPI' A three member Soviet youth delegation yrns en route to the United States today, at the invitation of the Com mittee of Young Quakers of North America., , More "than 17,000,004 persons visited Michigan's 58 slate parks and recreation area in 1057. V Of U.N. Lebanon and British forces in Jor dan, qualified observers frarikly doubted that a two-thirds vote could be mustered for any West ern measure put before tho as sembly. By the same token, however, it appeared impossible for Russia to gain a two-thirds vote for any pro posal it might have. The result appeared likely to be a stand-off with the only harvest at first SQUEEZE PLAY During the rush hour in England, not only the passengers but some buses have a tight squeeze. This one, going through the West Gate into Canterbury, makes the camel's trip through the eye of the needle look almost easy. piweeMMWiMM.e.iiiiiaM' ji mi urn iiii,i!)iiwiMtiw, jjl MUM m urn... - rr iMiriiMMM i wn ri-1 KrrvmK:Mi:4&kt&& - vvt mm- i in miTi f ill i & A X,J ViL, '!' . mssm. ... --sw-Sss w; 858 - ; 1 Help stop senseless killing on our highways. Drive safely yourself. Insist on strict law enforcement for your own protection. Remember where traffic laws are strictly enforced, deaths go down. Published in an effort Iq save liics, ' ' ' -. "' ' Jh cooperation with The National Safety Council and The Advertising Council, by ' The La Grande Evening Observer General glance seeming1; to be propaganda benefits reaped from the rostrum. But the words spoken from the rostrum often go to form a weight of public opinion which has been known to sway the policy of gov ernmentseven of Soviet Russia. Proceedings in the assembly are on the formal side. Delegates have no microphones on the long tables at which they sit in their golden sided hall. They must go to the rostrum at the front of the igloo shaped theater to make even a minor observation.. Their words are simultaneously translated into the five official U.N. languages English, French, Russian, Spanish and Chinese through headsets at each delegate's place. On a high dais above the speak ers' rostrum sit the three men who run the assembly. Its presi deritx currently Sir Leslie Muriro of New Zealand, sits in the mid dle. On his right sits Secretary General Dag Hammarskjold and on his left Andrew W. Cordier of the , United Slates, Hammar skjold's executive assistant who act's, as the assenVbly's socjre'tar!, taking .votes a)Vd. Seeing straight tlie' speakers! list. . , Each' 'country is limitecj, to 16 persons on the floor. Five dele gates sit with pve alternates or advisers ranged behind them. Some countries have many Igss than the maximum of 10 on the floor at one time. The assembly's prestige in war- 'Brother they ought to put that Why all the carelessness, the bad manners, the out right breaking of the law that this gas station owner sees every day? Because someone is in a hurry? Because someone loses his head and tries to return a discourtesy? Be cause someone is just not thinking? Assembly I and-peacc questions received a big uuuai in iiit'll, remising mm the U. N. effort in the Korean War would have been killed by Russia's Security Council veto, ex cept that Russia was injudiciously boycotting the council at the time, the West took steps to cope will such a siuation. Secretary of State Dean Ache son was engineer and John Fos ter Dulles, as a member of his delegation, the foreman in the construction of the "uniting for peace" resolution adopted by the assembly that year. That resolution provides that whenever the Security Council cannot act because of disagree ment, of the five permanent mem bers, a vote of any seven council members can order an emergency session of the assembly, which "shall" be called within 24 hours. That is the procedure being used to transfer the current Middle East turmoil from the council to the, assembly. , Without It. the assembly is strictly forbidden by tho charter to discuss any dispute which is before the council. MONEY APPORTIONED SALEM UPI Apportionment of $200,502 lo the counties for the benefit of county fairs was an nounced by Secretary of State Mark 6. Hatfield Saturday. The money comes from state racing revenues. one in jail!" Outlined With it. the assembly in 1956 condemned Russia's brutal supres sion of the Hungarian revolt and established the U. N. Emergency Force now on duty in the Gaza Strip which made possible the withdrawal of British, French and Israeli forces in the Suez war of the same year. Descendant Of Declaration Signer Seeks Citizenship GLENDORA. Calif. (UPI Les lie Colin Jabara was well on his way to undisputed U..S. citizen ship today more than 180 years after his great,' great,, great grandfather signed tlie ; Declara tion of Independence. - , The U. S. Senate passed a bill Tuesday making Ihe 30,-year-old "man without a country" a citi zen. The measure now awaits the President's signature. '. For Jabrira, passage of the bill, sponsored fay Rep. Pat Hill ings (R-Cailf.),.mca'nt' victory af ter a struggle of more than 10 years to gain American citizen ship. . , Immigration officials - ordered Jabara's deportation last. April 28 on a ruling that he was ineligible for U. S. citizenship because he, came to this country on a visitor's visa from Auslralja. .. ...... These are pretty silly reasons for flirting with death. Last year nearly 40,000 men, women and children died in traffic accidents. Many of them were killed by good drivers who for one moment drove recklessly. And one moment can mean the difference between life and death. IK. Switchblade Knife Shipments Banned WASHINGTON UPI ' Prest dent Eisenhower signed inlo law Tuesday a bill banning interstate shipment of switchblade knives. Congressional sponsors said lh 1111-ciaui i - .-"mug juvenile delinquency by curbing imffie in a common cana wcannn The law provides a penalty ot up to S2,ouo in lines ana fiv years in prison for violations. Jabara insisted he came lo the U. S. on the visa to wage his fight for citizenship in person. He appealed me decision ana won a stay of Ihe deportation order, pending action by Congress. During his fight, Jabara insist ed his falher, Leslie M. Jabara was born in Oklahoma Territory and that an ancestor, Rieharij Stockton of New Jersey signed the Declaration oi independence. Hit now lives in Southern Cali fornia with his wife, Beverly, 28, daughter, Laruen, , and son, Les lie, 2., Recapping ,Turfey's Wot
