Wall Street Scanning Horizons
For New Investment Projects
11 r-ai-rn
Sf ff I w e 1 s s 1
I economis
By ELMER C. WALZER
UPI Financial Editor
New York - (LTD - With vast
sums of money seeking em
ployment, Wall Street is scan
ning all hori-
I zons lor new
J rT I i n v e s t ment
I '&"tX 1 projects.
A great deal
of money will
find invest-
I ment abro a d,
R. L.
m a n,
economist for
Elmer Walzer xne DroKerage
and banking firm of W. .
Hutton & Co.
In a study on that subject,
Weissman concludes that "in
ternational investment seems
destined to expand substanti
ally, with far-reaching conse
quences." He points out that without
foreign capital the economic
growth of the U.S. would
have been much slower than
it was, and quotes E. R. Black,
president of the World Bank,
that no free country has ever
been able to develop a healthy
economy and to realize its
maximum economic potenti
alities without getting foreign
id.
Private American invest
ment abroad currently totals
$33 billion and U.S. govern
ment foreign investment,
$16.5 billion for a total of
$49.5 billion. These figures
compare respectively with
$16.3 billion, $13.1 billion
and $29.4 billion in 1943.
Mostly Subsidiaries
Of the $33 billion U.S. pri
vate investments, direct in
vestments amount to $22.1
billion, against $14.7 billion
in 1948. These direct invest
ments are represented most
frequently by subsidiaries of
American companies.
Weissman says no one can
expect American investments
abroad to equal the British
in the halcyon Victorian era
when half of Britain's savings
was flowing into foreign
channels.
If American investments
were on the old British basis,
we would have foreign in
vestments of $160 billion and
an annual income from them
of $1 billion.
Back in the 1920s, U.S.
money was flowing abroad
rapidly. Many of those for
eign loans were all-advised,
Weissman notes. Britain and
France made some poor ones
too," a number of which were
the result of politics over
coming sound finance."
Investments Scattered
Presently, our investments
abroad are largest in Western
Europe, followed by Canada
and Latin American republics.
The present total compares
with $17 billion in 1929.
Making allowance for the
change in the price level and
national income," Weissman
says, "the increase is not as
large as it seems.
"Our investments abroad
may be expected to rise more
rapidly in the next decade."
Weissman gives three rea
sons for expecting renewed
expansion of international in
vesting, namely, population
growth, "the revolution of ris
ing expectations," and capital
rich countries seeking outlets
for funds.
Population growth, he finds
is greatest in underdeveloped
nations. That, plus a rising
tide of nationalism, a spread
of knowledge, and govern
ment commitments to improve
standards of living create con
ditions where objectives can
be realized or even approach
ed only by use of vast sums,
he says.
Weissman .admits there are
obstacles and difficulties in
foreign investment, even in
cluding expropriation and dis
criminatory practices.
"Nationalism, with its
empty results, make a good
political slogan," he says,
"whereas wise statesmanship
would adopt policies to invite
foreign capital.
"It would be helpful if
greater efforts were made by
United Nations' organizations
and other influential bodies
to have a code of fair treat
ment of foreign investors
adopted."
Reds Expected
To Spur Arabs
Paris - (UPD - Officials here
predicted today the Commu
nists will spur Arab gunmen
in this country to new ex
cesses in the next 10 days in
hopes of intimidating voters
in the coming constitutional
referendum.
Premier Charles de Gaulle
summoned his cabinet to a
meeting late today to con
sider special police and army
measures to combat an ex
pected campaign of terror.
The trouble probably will
come to a head a week from
Sunday, when about 43 mil
lion Frenchmen at home and
abroad register their views
on the proposed constitution
of the Fifth Republic.
Interior Minister Emile
Pelletier, who directs the
activities of French police,
said "extraordinary meas
ures" will be adopted to pro
tect the voters against ex
tremists who may try to scare
them away from the polls.
The "gunmen of the Al
gerian underground are be
ing helped and led by the
Communist Party," Pelletier
said. "I have strong indica
tions that the attempt to
assassinate Information .Minis
ter Jacques Soustelle Mon
day was ' engineered by
Communist agents."
The average life span of
small rodents is scarcely a
year.
Motorloggers Dig Razor Clams
Seafood Delicacy in Good Supply
Along Many Nearby Pacific Beaches
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By KEITH HANSEN
Asstant City Editor, The Oregonlan
Count trie razor clam as one
of the many tangible treas
ures that go along with living
near the Pacific. This clam is
available, fun to hunt, and is
a real seafood delicacy when
fried, hot and fast
From Portland, the lair of
the clam is an easy drive from
home. And at low tide, the
clam fan needs no urgin'- He
is off to the .coast.
If you are one of the many
who have yet to go clamming,
give it a try this summer.
When friends and relatives
head for Portland next Centen
nial year, a clam digging ses
sion and ensuing clam fry will
be an experience they won't
soon forget.
The Clatsop beaches of Ore-1
gon provide good clamming
for the famous razor clam, as
do the beaches of Washington's
North Beach Peninsula, across
the Columbia River from As
toria. Other Oregon and Wash
ington coastal areas, particu
larly around salt water bays.
provide such varieties of clamsH
as the cockerel, the norsenecK
clam and the small bay or
steamer clams.
Our Oregonian-Oregon State
Motor Assn. motor log took us
to the clam beds on the Wash
ington side, where 20 miles of
shovel, followed by a wunge
smooth, uninterrupted beach
means home, for millions cc
razor clams, and on the oc
casion of low tide, for thou
sands of clam diggers.
One of the major charms or
a clamming trip on this stretch
of sand is that, given a minus
tide and even a smidgeon of
luck, the results are meas
ured by the . sackful of bi
valves.
Although clam diggers ran
the range from expert to nov-
I . -ffi.it .t i 'Vi1.
rl J' i
t j YLfi Li1-&
A. rr'liv
Km Coats, i Yaaeowter, Wajfc., jfcaws malt d aaarch for
raaor claim oa loog stretch at North Beach Peaiasnla.
ice, as in any other endeavor,
it's not tough for even the nov
ice to come home with a lim
it, which in Washington state is
24 razors.
All you need take to the
beach is a clam shovel either
the old standby short-handled,
slim-bladed shovel or one of
the new tubular clam "guns"
clothing that .. won't mind
some dampening by the surf,
and a container. You're in
business.
The first chore is to spy the
distinctive hole made- in the
sand when the clam withdraws
his long neck. It's hard to de
scribe, but after spotting a few
of the "dimples" you'll read
ily distinguish them from other
depressions in the sand.
The general practice is to
stand with tout back to the
surf, plant the shovel in the
sand a few inches away from
the dimple, and lift out a shov
elful of sand.
Often, you'll have your el am
right now. More often, you'll
need another scoop with the
of the hand and arm into the
hole until you find the target.
Pull him out.
The sharp ends of the shell
can cut like a razor, and sliced
finger tips are the mark of the
clammer.
While the special tools of the
trade are helpful they aren't
an absolute necessity. The
"man to clam" form of com
bat, which is simply to scratch
at the sand with your fingers
and then to try to dig him out
of his hole, can be rewarding.
Most clammers, and certain
ly the novices, do their digging
in the wet sand above the wa
ter's edge. The experts learn
to spot the tell-tale dimple, or
even the dark spots of the
clam's neck as k barely parts
the sand, and flip the mollusks
out of the surf. It's a tech
nique we have yet to master.
Digging the clam is only half
the fun. Eating him is the other
half. Cleaning him is no fun at
all, and maybe you ean con
vince your better half to clean
the batch.
So all right Clean them your
self. Now to the frying..
Roll the firm, white meat in
flour. Then in beaten egg. Then
m cracker meal or cracker
crumbs.
The skillet and the on, pref
erably melted butter, mu6t be
hot.
A good clam cook gets mat
way through experiment. Skil
let not hot enough, the clam
tastes like a -raw clam or is
tough. Skillet too hot, you'll
Krb Haasm poses along aide
the AAA motorlee; ear Berth
of Ocean Park, Wash., aad
balds pair of rasors still aHve.
burn 'em. With the skillet just
right, fry them fast Some say
only ten seconds on each side,
but that's a matter of personal
taste. When done to that taste
and golden brown, fried clams
are hard to beat
Even now you're not finished
with the clam. When cleaning
them, snip off about half an
inch of the neck. This makes
a Bait dearly beloved by sea
perch. Bait up, cast off the
rocks or wade out into the surf
with the proper fishing gear for
long casting.
When the perch are feeding
close to shore, you'll reel in
an ocean fish that provides as
tasty a fillet as you could ask.
One warning. Clean the
clams thoroughly.
The boards of health of Ore
gon and Washington offer con
stant reminders that highly
dangerous plankton poison
sometimes is found ia the in
testinal tract of clams. The
strychnine-like poison is pro
duced when shellfish eat a tiny
plankton called G. eatenela, oc
casionally washed in by the
ocean.
There is absolutely no dan
ger if you completely remove
all dark portions of the clam
and wash the white meat thor
oughly. This is standard prac
tice by experienced clammers,
and the warning is directed to
those who are uninformed and
who might possibly eat the
clams without cleaning them.
Official Song Contest Planned
Portland The Oregon Cen
tennial commission has an
nounced a contest for an of
ficial song to help arouse en
thusiasm for the state's cen
tennial celebration next year.
The commission set a Nov.
30 deadline for submission of
entries.
The fine arts committee,
which is in charge of the con
test, warned that no song al
ready published or already
chosen as winner of a contest
will be considered.
At the same time, the com
mittee promised that all roy
alties will go to the composer
and lyricist.
Edwin D. Flenner, chair
man of the song subcommit
tee, said the judges of the con
test will be Owen C. (Red)
Dunning, music director at
broadcasting station KOIN in
Portland; Joe Dardis, orches
tra leader, and Dr. John Rich
ards, associate professor of
music at Lewis and Clark col
lege.' Flenner said entries must
be addressed to "Song," Ore
gon Centennial commission,
It makes sense
To enroll in the '
NANCY TAYLOR SUCCESS COURSE
You'll be amazed at your own loveliness. You'll gain
confidence in your work and in yourself.
New Classes:
Adults Tuesday, Sept. 23 9-12 noon
Teenagers Tuesday, Sept. 23 4:30-7:30 p.m.
Nancy Taylor Charm Course
' 40 North Riverside V Phone SP 3-40S
511 Jackson tower, Portland,
and arrive in readable manu
script form, arranged for voice
and piano.' The committee
promised to return each manu
script not chosen if it is ac
companied, by, a stamped,
self-addressed envelope.
JGDDN
THE
EAINIP
Rent First Then Buy
A Horn For Your
Young Musician From
Emerald Music Co.
333 S. Riverside
SP 3-5653
Writer J. McPartland's Death
Reveals Strange Romantic Plot
Monterey, Calif.-fUPB-A ro
mantic plot as strange as that
in any of his spicy novels has
come to light with the death
of novelist John McPartland.
McPartland, 47-year-old au
thor of "No Down Payment,"
died at his home here Sun
day. His wife, Eleanor, and
their five children received
a flood of messages express
ing sympathy.
But Wednesday an attract
ive brunette said she was Mc
Partland's true wife and the
Father Faints on
News of Triplets
Redlands, Calif. - (WD -David
Voss, 19, ranch hand
and student at San Bernar
dino Valley College, fainted
Wednesday when informed
his 16-year-old wife had pre
sented him with triplets.
When he recovered, Voss
guessed he'd have to drop
out of school to meet his un
expected responsibilities.
The identical triplets, all
sons, were born to Mrs. Sue
Voss, a senior at Redlands
High school, at Redlands
Community hosptial. It was
the first triple ' birth in the
history of the hospital.
Dr. C. T. Halburg said he
would not charge for deliver
ing the babies. It was the
first triple birth he had hand
led in 27 years of practice.
mother of their 10-year-old
son, Donald.
Mrs. Ida McPartland of Mill
Valley, Calif., said her hus
band had commuted between
Police Report Break,
Entry at Station
A break and entry at
Keith's Texaco, 401 North
Riverside ave., was reported
to Medford city police yes
terday. The theft was discovered by
Keith Clifford McLean, 2961
Crater Lake ave., about 8:12
a.m. A cash register contain
ing $1.70 was reported stolen
from the station.
Entry to the station was
made through a door in the
shop area into the office some
time between 1 and 8 a.m
police said. A screwdriver was
used to remove a hasp on the
door, police reported.
HE CAN HANDLE IT
Gateshead, England - (UPD -James
Scott, charged with
driving his roadsweeper while
drunk, was acquitted Wednes
day although he admitted in
court he drank 13 pints of
beer the night he was ar
rested. "But it would take 15
pints to put me under the
influence," Scott explained.
A police sergeant testified
Scott was "well used to tak
ing drink," so the judge let
him off.
his families in Montrey and
Mill Valley for 10 years.
Ida said she let the bizarre
situation go along through
the years because her hus
band repeatedly promised to
give up Eleanor.
"Why, he made that prom
ise as late as last week," Ida
said.
At the time, McPartland
was spending two weeks with
his Mill Valley family. He re
turned home just before his
fatal heart attack.
Left Wife
Ida said she and McPart
land were married in Septem
ber, 1943, in Tyler, Tex. She
said he walked out on her
10 years ago and moved in
with Eleanor.
Meanwhile, McPart land
continued to visit Ida in Mill
Valley while living with Elea
nor at their comfortable home
in the Monterey Peninsula
Club area. Donald occasional
ly visited his father in Mon
terey. The second Mrs. McPart
land, a leading member of the
Pacific Grove Parent Teach
ers Association, acknowledged
they have never been mar
ried. "I confirm the story," she
said-"Other than that, I have
no comment to make at this
time."
Best Seller
McPartland wrote 12 paper
back novels. His big success
was "No Down Payment,"
which was a best seller that
MAIL TRIBUNE. Medford. Ore.. Thursday, September 18, 1958 9
was later made into a movie.
It told of the financial and
amorous entanglements of sev
eral middle class couples on
the San Francisco peninsula.
Ida's attorney, Jay Pfoten
hauer of San Francisco, said
he is considering legal action
to have Ida made administra
trix of McPartland's estate.
Ida, who attended her hus
band's funeral, said she was
"very sorry" the publicity
had to come out at this time."
But she said the news of
McPartland's death, listing
Eleanor and the five children
as sole survivors, had dis
turbed her parents in Ark
ansas and she wished to set
the record straight.
We Give
GREEN STAMPS
CENTRAL REXALL DRUG
Main and Central
IT LEAVES YOU BREATHLESS!
SET ON
THE
VODKA WAGON
WITH
.aSf et att: ::-. 777.
i
a g f the greatest name in
WlimifV0D(A
10 S 100 Proof. Dittillii Inn nii. Sto. Pierre Smirnoff Fit. (Div. if loobliii), Rirtfirf, Call.-
FN
A A 1L
LA
fLECTVA 225 IH THf EY6-STOPPtNG J ' I f . i fejll 1Fmmm''mmy if' ' ' im"'''
NW 4-DOOR HARDTOP . S 'WSil I , 'm . JStf"
fLECTVA 225 W THf EYE-STOPPING
NEW 4-DOOR HARDTOP
Here it is . . . and now you know! Know why we have
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THE LOOK. A clean, leannew kind of .fine
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and the most excitingly beautiful design
ia Buick'g nearly 60 proud yeans.
I - -.eaaf- ' I
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'. wu caal on certain modtk.
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See Teles of Wells Fargo Saturday afternoon, KBES-TV