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