Anniversary of Fateful
Of Decision
By DANIEL T. GILMORE
'United Press Correspondent
London 1? The anni-ers-ary
of two fateful weeks of de
cision rolls around this October,
1957. j
Warsaw, Budapest, Suez all ;
the last two weeks of October,
1956.
New forces are at work today,
but with similarities.
Russia threatens a "new Suez"
over Syria the pretext being
that she will be "forced" to step
in against Turkey, just as the
British and French said they
were impelled to act against i
Egypt.
The freedom flame still
smoulders in Hungary, Poland,
partially free of the Russian
yoke, longs for still more free
dom. A significant addition is the
new red star hurtling around the
earth the Russian Sputnik.
The roll call:
Hungary
Under the heel of a more
ruthless Red Tyranny than ex
isted before the Oct. 23 revolu
tion last year. An estimated 95
per cent of the population bitter
ly anti-communist, hatefully anti-Russian.
Janos Kadar, the Moscow-pop-q
ped Hungarian premier and par
ty boss showing signs he fears
gnother rising this October.
He ordered that no one show
!ny mark of mourning for the
hundreds of thousands killed by
he Russians list year. Nor any
Mention of th more than 171,
'jflOO Hunrins who fled their
Country or those unnumbered
mothers who trird and were shot
Ja th froj-itifr marshlands ad
joining Austria.
The church is muffled once
3ffior?.
tfosef Cardinal Mindszenty,
th Roman Catholic primate who
made a triumphant entry into
briefly liberated Budapest last
Oct. 31, after his own release,
is a year later still a volunteer
"prisoner" in the U. S. legation
in Budapest.
Poland
Making torturous progress to
wards more freedom but under
what must be almost unbearable
counter-pressure from Moscow
which fears a new Hungary
from the strong-willed Poles.
Unlike Hungary, a year shows
remarkable gains by the Warsaw
Gomulka regime towards free
dom and dignity of its citizens.
Among these gains:
Josef Cardinal Wyszynski, the
Roman Catholic primate of Po
land, was released and returned
to resume his ecclesiastical du-,
ties in Warsaw for the first time:
in four years.
Soviet Marshal Konstantine
Rokossovsky was fired as Po
land defense chief and Deputy
Prime Minister.
General elections were held
Jan. 2; which returned an over
whelming victory for Gomulka's
garty and program.
An agreement with the Sov
iet Union was signed by Gom
ulka in Moscow providing that
Sussian troops would remain in
Poland '"for the time being" but
on the understanding they
ould not interfere in Poland's
internal affairs.
Moscow renounced the Po
lish "debt" amounting some
flalf billion dollars.
Moscow agreed to return an
estimated half million Poles im
prisoned, detained or otherwise
.prevented from leaving the
USSR. More than 100,000 have
Already returned.
Tie Mideast
A year after the Suez invas
ion by Israeli - Anglo - French
forces. Egypt's President Gamel
Abdel Nasser is still number one
Arab leader, he still has com
plete control of the canal, still
gets Soviet arms and support.
But Russia now has a new des
ert protege Syria, over whose
territory cross Western pipe
lines as vital as the Suez Canal
' Jinfc.
A year ago this month, the
Jlid-East was seething.
Nasser had nationalized the
Suez Canal in July following
cancellation by the U. S. and
. British of their offer to finance
building the Aswan dam.
Nasser, with Russian backing
was emerging as self-elected
leader of the Arab world of 56
million population and an oil
soaked region containing 70 per
cent of the world's total petrol
eum reserves.
He appeared out to extermin
at Israel, with Moscow's bless
ing. Israel forces jumped off Oct.
2t and in six days conquered ;
the entire Sinai penninsula up i
to the Sucx Canal. j
On Nov. 5, Anglo-French fore-;
es landed in Port Said in an op-1
ration that nearly started out
World War III, lacerated the Anglo-American
alliance and lost
London and Paris the moral sup
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port of 9-10ths of the world.
Russia which had warned that
rockets might fall on London em
erged to the guileless in the
Mid-East as their great protec
tor. The last Anglo-French forces
exacuated Suez Dec. 22 leaving
a Mid-East vacuum that the
Russians were happy to exploit.
The "pre-Suez" atmosphere
ocks
linn
By ELMER C. WALZER
United Press Financial Editor
New York Stocks declined
further during the past week
after two days of respite from
selling.
As a result of gains last Mon
day and Tuesday, the week's
losses were held down to mod
erate amounts and the loss in
value of listed issues amounted
to 52,067,000.000, smaller than
recent weekly declines.
Three statements by leaders in
government and finance worked
against the market:
Military Important
Richard M. Nixon, vice presi
dent: "... Necessity of main
taining our superiority in mili
tary strength must always take
priority over the understandable
desire to reduce our taxes."
Alfred Hayes, president of the
New York Federal Reserve
Bank: "It would be a grea,t mis
take to relax credit restraint
just as we see some hope of
achieving the price stability that
we have all sought so ardently."
John Foster Dulles, secretary
of state: Warned the Kremlin
that "Russia could not .remain
a privileged sanctuary immune
to attack by the United States,"
in connection with Syrian-Turkish
situation.
These three items prospect of
no tax cuts, no credit relief, and
war talk caught the market off
guard in a recovery phase and
sent prices down again.
Otherwise the news was not
unfavorable. Industrial output
held on an even keel except auto
output which spurted as new
models began to roll. Several
companies, notably General Elec
tric, reported higher earnings
for the first nine months. Sev
eral raised dividends and Sep
tember's tota4 dividend payments
continued to show gains.
The market had turned around
a week ago Friday when the in
dustrial average approached the
Eisenhower "heart attack market
low. It met support there again
this Friday although there was
no substantiaal rally from the
low point.
Trading was active but under
the previous week which set a
new high since' Sept. 30, 1955.
Sales this week averaged 2,631,
526 shares daily, against an aver
age of 3,115,142 shares a week
ago.
The Dow Jones industrial
average closed the week at 433.
83, off 7.33, and a new low since
June 6, 1955; railroad 113.93,
off 2.54, and a new low since
Sept. 1, 1954; utility 64.55, off
0.45, and a new low since May
28, 1956; and the 65 stocks in
the three averages 148.28, off
2.39, and a new low since March
14, 1955.
True lo Form
Wall Street experts said the
market behaved true to form in
view of the news' developments.
None had anticipated a prolong
ed recovery from last week's
lows. Not a few still look for a
decline to the 400 level.
Further selling to establish tax
losses is foreseen. Also it is noted
that many are waiting for rallies
to lighten accounts. However,
the decline, if one comes, isn't
expected to go along at the fast
pace of recent weeks.
The week's selling brought out
1,396 issues of which 89 showed
declines, 336 gained and 171 held
unchanged. A total of 494 stocks
set new lows and only five made
new highs.
Aircraft shares, most of them
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Weeks
Arrives
again hangs over the Mid-East
today exactly a year later but
with the principals changed.
This time, instead of Anglo
French forces threatening inva
sion of Egypt, Moscow is charg
ing that Turkey with U. S. back
ing plans to invade Syria and
that the USSR "will not stand
idly by."
in the business of producing mis
siles or missile parts, outper
formed the rest of the list. Doug
las gained 7s points. Bendix 2Vi
and United Aircraft I3 4.
Du Pont suffered the widest
loss among the leaders 7 points.
Lukens Steel fell 83s. Copper
shares softened on lower prices
for copper metal. Kennecott was
down 6 points on the week.
Chrysler gave up 44 points in
the motors. Gulf lost 3 points in
the oils.
The high-priced issues went
through wide gyrations. Alegah
ny Corp. Preferred appeared for
the first time this year at 190,
off 51V2 points. Superior Oil of
California lost 35, Rohn Va Haas
2OV2 and St. Louis-Southwestern
10.
North American Aviation, with
turnover of 284,300 shares, fea
tured the market in turnover
and gained l5a points.
Pictures Reveal Rocket
Which Powered Sputnik
South Pasadena, Calif. (IP)
The final stage 'of the rocket
which launched Russia's man-
made satellite is orbiting around
the earth at a distance of about
307 miles, with Sputnik itself
at least 100 miles higher, it was
reported Saturday.
Samuel Whidden said this
indicated in a study of pictures
taken of the rocket when it pas
sed over the area Thursday.
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2nd SECTION MEDFORD,
Sputnik Causes Sputtering
As Toy World
By VIVIAN SANDE
' United Press Correspondent
New York a? The toy
world is sputtering while Sput
nik beeps.
Seems that, like American
space scientists, the toy indust
ry was caught off guard by the
Russian satellite's unexpected
trip into outer space. Toy mak
ers were offering a few satel
lite toys for small space enthu
siasts more launchers than satel
lites and waiting for the Ameri
can satellite launching to give
the toy space world its big, push.
Ever since the Russian moon
let took to its orbit around the
earth on Friday, Oct. 4, toy
land has been so bombarded
with orders for satellite toys,
or any reasonable facsimile
thereof, it is rocked to its very
foundations.
"Sales have jumped one-thousand
per cent," said John Feif
fer of Macy's.
Gimbels confirmed the trend,
as did other toy shops around
town.
Sales Zoom
Ideal Toys, manufacturers of
three satellite toys, joyfully re
ported a jump of 500 to 600
per cent in orders for its satel
lite launcher, its skysweeper
truck, and its ICBM intercon
tinental ballistics missile launch
er. "We're going crazy trying to
keep up with the orders," said
Mel Helitzer, for the company.
"Our factories can't keep pace."
One company admitted it hast
ily recolored and renamed what
was known last year as an atomic-type
truck to a space-type
truck launcher to conform to
the demand. This sort of thing,
a spokesman insisted, is not un
known in the toy industry when
quick conversion can cash in on
a new trend.
Arnold Bolka, president of the
trade research organization in
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Drops Behind
New York, which specializes in
studying trends in styles and
sales in toys, said there's been
nothing like this in the industry
since the Davy Crockett boom.
"But this is much more revo
lutionary," he added: "The Davy
Crockett boom lasted less than
a year, and now there's nothing
deader.
"We predict this earth-satellite
boom will last right
through Christmas and next
year. It will grow and change
as the scientific world grows and
changes in the field of intercon
tinental wonders ... maybe
even ahead of them."
Bolka said there are quite
a few new satellites, or allied
toys in this year's crop, bring
ing the total to a baker's dozen
or so, including board games,
balloons, costumes, trackers,
launchers and trains and trucks.
He predicts the number will be
noticeably increased very soon.
"I bet the designers are wor
king over-their drawing boards
right now," he said.
. But those new toys, said the
expert, won't be ready for the
market until next year.
As far as anyone knows, no
satellite toy actually has been
named "Sputnik."
"Earth satellite," said one in
dustry observer, "is just as good
. . . and much less controvers
ial." San Francisco (W The U. S.
seaplane tender Oyster Bay will
be the latest addition to the Ital
ian navy . Wednesday following
ceremonies at Treasure Island.
Officiating at the ceremonies
will be Rear Admiral George L.
Russell, commandant of the 12th
naval district, and Signor Egi
dio Ortona, minister to the Ital
ian embassy in Washington, D.C.
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NOBEL WINNER An
nouncement from Stock
holm, Sweden names French
author Albert Camus (above)
the winner of the 1957 No
bel Prize for Literature. The
43-year-old author is the
second youngest writer in
history to win the high hon
or. Britain's Rudyard Kip
ling was younger when he
won it.
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West Germany Breaks
Bonn, Germany (IP) West
Germany with "deep and real
disappointment" Saturday broke
off formal diplomatic relations
with Communist Yugoslavia for
becoming the first independent
nation to recognize East Ger
many. West -German Foreign Minis
ter Heinrich Von Brentano call
ed Yugoslav Ambassador Dusan
Kveder to the foreign office to
hand him the official note break
ing relations between the two
nations.
Kveder, in a strongly-worded
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With Yugoslavia
declaration he' read to Brentano,
described the West German ac
tion an "unjust step."
Kveder said Yugoslav recog
nition of Communist East Ger
many, cause of the break, was
not an "unfriendly gesture" to
ward West Germany but a "sov
ereign decision by a sovereign
country in connection with a
third sovereign country."
Of the 48 states in the Union,
25 have names derived from In
dian words or a combination of
Indian w-ords.
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