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About Capital journal. (Salem, Or.) 1919-1980 | View Entire Issue (March 21, 1957)
Salem, Oregon, Thursday, March 21, 1957 THE CAPITAL JOURNAL Section 2 Page 7 BUSINESS MIRROR on autos and appliances have been I J) , J nfi T son in 1938, ended in divorce; ia 1942. They have a daughter, Wen die. In recent months Miss Harvey had been in New York City study ing dramatics in preparation for a stage career and Vanderbilt had been her frequent escort. Her paternal grandfather Byron Harvey was the son of Fred Har vey, founder of the Harvey res taurant system. lowered just about as far as tneyll ICtl i U 1 U9UIVU 4J. LWUUUlllS Study Group Thinks Habit of Living in Debt Will Spread can be, so it thinks most of the future rise in the total of install ment debt will come from the new and crowim invasion of the con- 3rd Wife of Alfred Vanderbilt By SAM DAWSON , dollars to the nation's outstanding i house over many years has be- NEW YORK UsThat liviniF In mortgage debt total last vear. come widelv resoeetable. esDeci. how much the monthly payments , sumer credit field by the financcrs will be and if the family income of travel, vacations and services, will cover them. and by the increased emphasis on For example, the average ; it by department and other retail CHICAGO WV-A young Chicago postdebulante, who had ambitions for a stage career, has become the third wife of Alfred Gwynne V-a n d e r b i 1 1, multi-millionaire sportsman, her parents disclosed yesterday. Vanderbilt, 44-ycar-old heir to one of America's greatest fortunes and Jean Harvey, 20, member of a socially prominent and pioneer Chicago family, were married in Mexico City March 12, her par ents said. The bride's mother Mrs. Dag. gett Harvey said none of the fam ily members attended the wed ding. She added that Vanderbilt debt is a way of life for an in-1 This way of life is most preval-' "y s'nce World War II. hii "umtcr of Americans is , ent among younger families and! Families have been putting an official today. A government agen-j among those with incomes in the average of 11 per cent of their monthly payment on new cars has stores and his bride now are in Florida cy study group says so. And it middle brackets. spendable income into installment buying in the last two years, the group reports. It thinks this will gradually rise to 13 or 14 per cent stayed around $80 in recent years. and probably will live in his Long minus the habit will go on spread ing. This may not sumrise the mil. The study group is the statisti cal staff of the Federal Reserve Board, which had been asked to report on installment credit to The rise in total auto financing has come, in addition to the num ber sold, in the lengthening of the period of payment. This has let island, N.V., home. RECOVERY Vanderbilt, owner of Native Dancer among other famed race horses, was divorced last Decem Bird Burglar BIG SPRING, Tex.. W-A fam ily here who thought someone was taking mail from their box dis covered the culprit. It was pet crow that lived down the street. RIGBY, Idaho UV-Somebody took FBI agent J. I. Hart's hat while he was giving a talk on crime before the local Rotary club. Hart, of nearby Idaho Falls, later recovered the chapeau. lions who together have 3 Hi bil- by 1965. Most families nav little attpntinn lion dollars more to pay on such i President Eisenhower's Council of installment buyers take on higher ber by Mrs. Jeanne Murray Van inures as auios. lurniture. nome : Economic Ariv kers It f nils hat to how much more this costs them I P"ccd models. derbilt in Gooding, Idaho. They appliances and travel, and to the I buying goods and services on the in interest rates and carrying The Federal Reserve group fig charges. The controlling concern is i ures that monthly payment terms nave two children. His first mar riagc, to the former Manucla Hud nuiuea wno aoueo. arjout is oiiiionl cull and making payments on a Survey Shows 'Good Return' On Arms Help 'Valuable Deterrent' to Red Expansion Noted By Three Groups By RELMAN MOWN WASHINGTON ifl - The United States is getting "a good return" on the billions spent (or military h-lp to non-Communist nations, three survey groups reported to- However, the costs of the pro gram are more likely to go up' than down, said the report made; public by a special Senate commit-1 toe studying U.S. foreign aid. And there may have to be an' increase in military manpower, it said. Report Similarly j The three groups evaluated the results of the military aid pro gram in Similar terms: "A valuable deterrent to Com munist expansion ... To dsle. Hie investment of the United States tn military aid programs has served materially to stabilize the free world and discourage aggres-: sirm. , . ," The report was composed of I findings by Columbia University's Institute of War and Peace Studies ' and by the Systems Analysis Corp. of Washington. ' M five-man panel reviewed and commented on Ihcir .findings. The 'panel was composed of Marx Leva, former assistant secretary of defense; S. L. A. Marshall, mil itary commentator for the Detroit News; and three retired officers, Adm. Robert B. Carney. Gen. Joseph T. McNarney and Maj. Gen. Gerald Iliggins. Since 1949, the report said, Con gress has appropriated about 24 billion dollars for military aid. of which 16 billion has been spent. .Military aid now accounts for Seme B2 per cent of all foreign aid funds. The rest goes mainly for economic aid and technical assist ance. ' Four Fifths Spent Here " "It is not always appreciated that about four fifths of military assistance funds are spent in the United States." the report said. From the start of-thc program through 195:i, it said, the United S'atcs delivered to pllies and other countries ahoul w.nnfl tanks and C'lnibat'vclvc'es. Io "aval cra't. 40.(100 pieces of artillery, 7.0W aircraft, two million small arms and automatic weapons, and un specified "billions" of- rounds of ammunition. This armament went and is (till going to 31! nations, the survey showed. It said that the North Atlantic Treaty Organiza tion nations assume about 85 per cent of their own defense costs. The United States and Canada furnished funds for the remainder. Reviewing results of the pro gram, the reports stressed strengthening of Western Kurope. One cited Iran specifically as a. nation where "U. S. defense assist ance can be rightfully credited with having substantially contrib uted to saving the country from ' Communist domination." "It is possible," another passage Said, that Communist China has "very large forces tied" down by the presence of strong Nationalist Chinese and South Korean lorccs - both bolstered by U. S. aid. Forcing Red China to maintain a large military establishment may also be slowing the efforts at economic growth there, a sur vey said. The report called for streamlin ing the method by which money is provided, so that arms can be de livered more swiftly. Elkins, Clark Trials Held Up Until April 16 PORTLAND. Ore. Portland ambler James (Big Jim I Elkins and his aide Raymond Clark will ae brought to trial here April 16 tn federal wire-tapping charges. U.S. Dist. Judge William G. East yesterday postponed until . then their trial, which had been ichcdulcd earlier for March 26. The federal indictment accuses the pair of making illegal tape recordings of telephone conversa tions. The tapes were subpoenaed by federal authorities after they were seized in a sheriff's depart ment raid on Clark's home. Later the raid was declared illegal. Another set of tapes recordings of room conversations was played last week at the Senate committee hearing in Washington on charges of labor racketeering in Portland. Elkins Said he marie these tnpes available to law en forcement officials to back up his statement that certain public of ficers had conspired with some officials of the Teamsters Union and others to take over vice activi ties here. Altorne- for Elkins and Clark laid I' .y would file motions for disr-'ssai of the indictment and fr exclusion of some of the evi f nee. Oral arguments on this arc scheduled for March 29. Meanwhile, a county grand jury here continued its probe of vice and corruption in Portland. Uniformly Slow SUFFOLK. 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