Seattle
'Happiest
10, tolCo
7 in Hlffo
As Friendo Af?53no Party
Seattle -TCPD- Typing I ibr-1 hy eT kitchta table.
ture tor Diane Ewing, 15.
She - holds a stick in hgr
mouth and punches th k.
When she wastes, she holb
a pencil in her teeth and botej
iier neaa up ana aown g-TOtP
tne paper.
' At 10, the surgiQsl ijgmcnj!
of a growth on her ki0
caused the collap oC
muscletand gradual rgitif
is. Now she can 4feo) fiBiSg
her heag.
Diploma Party
And today .she's t!
est girl in the wor
. She celebrates her
tion from Seattle's gL'Gt
High School with gtr$j9$
marks. fa &
Members of her clBJ&&
hold a diploma Egrty ig
home.
"It's gtiing to be (9 0LdN
ful party," she says.a
will be my friend JkJtt
school, some of my t&clave
and a man from the frftoji?
board who will giv)mg 99
diploma."
"Diane doesn't consider b&
self an invalid," says
Ewing.
"She always thinks of oth
ers and warvli to be sure they
get to do Tne things they
want. The only complaint sire
makes is that there aren't
enough hours in a tfcy."
Diane s "scnooi is a spe-i flnqa fom Jiovmf
cial bed about the size and'gbou4$ arlf i4qt-
Jtr taujht kawalf te
nt typ.
44tt aTettiarIit my
rine for. ma," shs says.
9ut lov cam you tall some
Ma rit albra? And
Am v ot to geometry it
tS ftTOB von."
HHwi isn't sure what she
sft te graduatiom.
'X Jtet lend te gat some
Wit oft jplefeupsJup," she says.
'mit tley lon't give scholar-
lii for , correspondence
&or& I don't bnow what I'll
&uif ia college. It might be
ftttt, ducakiM)l psychology
Vana, eoesibly young
4rY,eho during the past
tatagad a house tinder
tto by Ralph Patter-
jk 69 Tairment st. also
amslves a wagon
Building materials,
.joliee reported.
totmim gid he wagon was
jfeiat4 vith the number
'V e &e aiie. Damage to
tlto 1W intluded thret air
vJa Jjeavtai out, forms
SroSaa, eeein0i ton off ma
tMdk &t &qmatp to the
gorta toto vit fU.
is
f ftiluro To faluto
Brings Prison Term
Saa Antonio, Tax.- (DPS -An
Army court martial board
sentenced a recruit who re
fused to salute officers to one
year in prison at hard labor
yesterday.
The recruit is Lou A. Len
aear, 20, of Oakland, Calif., a
member of the Jehovah Wit
nesses religious sect. He
claimed his religion forbade
saluting.
' The court martial board
also decreed that Lennear
will forfeit all pay and al
lowances and receive a bad
conduct discharge at the end
of his imprisonment.
Lennear was found guilty
of failing to salute Capt
Henry H. Gaskins last March
12. The next day, as Lennear
went to explain why he didn't
salute, he failed to salute Gas-
kins a second time and was
sent to the stockade at Fort
Sam Houston.
Lennear enlisted In the
Army Nov. 23.
TAIL HOOK PROJECT
Farmingdale, N.Y.-(UPD-Re-
public Aviation Corp. said to
day it has received a $121,000
Air Force contract to develop
a tail hook to enable Air
Force fighters to land on
short runways in the same
manner that Navy planes land
on carriers. The hook to be
developed would be attached
to an F-84F Thunderstreak.
WecWttUy, JM 11
MAIL TIISUNI, MeeVoid, 0.
7
i 7
(i
- : - - -
irt - - - 1
S ... M m
si rs,
I
, Fifty-four per cent of all
farms in France are cultivat
ed by their owners.
People try fa. and they like it!
. .
'
it f-- -t
why(cAuwBtec!c Label Beer b
NOW BREWED FOR YOU IN THE NORTHWEST
Now that CarHng Bkc Lall Am bftved right here in the
Northwest, every day you'll k )am( mom ud more people
smgt..."Mabel, BktJ LtW." -
It's as simple a? this Ftl fcf i...opl like iL..fhey buy it.
enjoy it ..and 8ll their fHQ. flat's the way it foes, and thafs
jjy Carling Bla Lahl te ft CtiaWs iastest growing beer.
Next timyod S, pi Kaok Label a try.
It's ti fwlitr beer aw sold here
t
ttiw popular, kx price.
MabeL . Black Label
. CARLING BREWING COMPANY TACOMA, WASKSNQTON
. t . Mr
1
llim Oft
SCREAMING WITH PAIN, this Rio De Janeiro commute rioter, shot by police and
Brazilian marines when a mob sought to set fire to a ferry dock, shown being car
ried to the sidelines. Four persons were killed and at least 10 wounded as commutera
rioted against suspension of ferry service across bay from Rio De Janeiro. - .
Treasury Faces Hard Selling
Job with Long-Term Bonds
If tf&$ -
j.
By ELMER C. WALZER
UPI Financial Editor
New York (UPD The treas
ury has a hard row to hoe for
fiscal 1960 even though the
budget may
b e balanced,
say the ex
perts. It can
not sell long
term bonds -maturities
o f
more than
five years -because
it
cannot pay
unr waizer the , interest
demands. The rate on these
issues has a ceiling of 4V4
per cent by law.
The treasury has a fat sum
of refunding to do even if it
doesn't have to raise a lot of
new money. The holders of
bonds that mature may want
their money. "
And the treasury must com
pete with business for money.
Business has been willing to
pay a good price for its
money. Consolidated Edison
bonds offered to yield 5.05
per" cent were sold out and
went to a premium. Market
men say bonds can be sold
if they" are priced to the
market.
The treasury cannot give
this type of pricing because
of the lid on what it can pay.
So the better business gets
the worse off the treasury i
for its bond program.
Recession Halpful?
Government bond expert
Robert Van Cleave of C. T.
Childs and Co., notes in his
bond review: "It has been
said, only half facetiously,
that there's nothing wrong
with Ihe government market
that a really good recession
wouldn't cure."
A recession, would bring
lower money rates and make
bonds more attractive. There
might be a tendency to sell
stocks and buy bonds.
But .there's no recession in
sight. -
. Even the Russian propa
gandists have stopped talking
about one. The economy of
the whole world is in good
health. ,
It would seem that the
treasury's refunding job
would be easy compared to
this fiscal year's stint because-
this year the government had
to raise some $13 billion of
new money. ,
Van Cleave notes that the
treasury's maturity schedule
for. 1960 adds up to $23.5 bil
lion, against cash and refund
ing of $25 billion in. this fiscal
year. .
He belittles the assumption
that holders of treasury issues
to be refunded and more or
less captives of the treasury"
market.
"With the single possible
exception of Federal Reserve
banks plus treasury invest
ment accounts, holders are by
no means captive," he says,
"and all proceeds of redemp
tion do not necessarily have
to be reinvested in the treas
ury market, .
"They may go instead into
corporate or municipal bonds;
or into stocks or real estate,
or any of a thousand indus
trial and commercial pur
poses ...
"More broadly, the impli
cation is that all treasury is
sues, whether or not offered
in a refunding operation,
must compete in the open
market with all other outlets
for funds.
The treasury would like
nothing better than to be able
to sell long-term bonds to non
bond investors. Sales to commercial-banks
build the in
flation potential, while sales
to non - bank investors are
non-inflationary. ,
Expansion Money
Corporations have built up
their holdings of government
issues and may be in the
mar?iet for more. It all de
pends on whether they need
money f o r expansion, in
which case , they might sell
some govern .ents.
Some believe firmly that
the treasury's life for the new
fiscal year will be a lot pleas
anter if there is a steel labor
agreement that precludes a
steeV price rise which could
set off a new inflation spiral
and make bonds still less de
sirable than they are at cur
rent coupon rates.
Bankers are convinced the
congress will raise the limit
on interest that can be paid
on long-term treasuries, pos
sibly to as much as 5 per cent.
Some think the interest ceil
ing ought to be abolished.
Also it is believed the debt
limit will be raised before
adjournment just in case it
may be necessary to increase
spending when congress is at
home.
Tax Deferment Plan Is
Available for Owners
Salem -Owners of cutover
forest land or lands that do
not contain a stand of mer
chantable timber may take
advantage of a tax deferment
NO TURNPIKE FATALITIES
New York-OJPD-The Ameri
can Bridge, Tunnel and Turn
pike association said Tuesday
no Memorial Day week-end
deaths were reported on 16
major turnpikes across the
nation. The turnpikes includ
ed Connecticut, Florida, Illi
nois, Indiana, Kansas, Maine,
Massachusetts, New Jersey,
New York, Oklahoma,- Penn
sylvania, Richmond - Peters
burg, Texas, West Virginia,
Garden State Parkway (N.J.)
and Westchester County Park
ways (N.Y.).
SLAVS SPURN ROCKETS
Oslo, Norway-(UPE -"Yugoslavia
will never take any
steps in building rocket bases
on its own territory," visiting
Yugoslav Vice President Ed
vard Kardelj said here Tues
day. He said, "The Yugoslav
government has no interest in
making our corner of south
ern Europe a dangerous point
in the world of today."
GERMAN RED DEFECTS
Berlin-dJPD-Helmuth Dahin
ten, mayor of the East Ger
man town of Angermuende
and ' an active Communist
since 1946, has fled to West
Germany, the West Berlin
"Information Bureau West"
reported Tuesday.
plan by listing their land with
the state forestry department,
according to Darryl Storm, of
the state forestry department.
The act provides for classi
fication under this special tax
program and once classified
the lands carry an annual for
est fee of 10 cents per acre in
western Oregon and half that
in the eastern part of the
state, Storm stated.
When any products are har
vested from the land, pay
ment of the deferred tax is
through a 12V4 per cent yield
tax, based upon the stumpage
removed. Thus ther owner
pays the tax when he has an
income from the land, Storm
pointed out.
"The owner of the land has
the right of withdrawing from
the classification if he so de
sires at some future date,"
Storm stated, "but he must
pay the accumulated ad valor
em taxes or the yield tax
based upon an estimate of the
stand of timber, whichever is
the greater.
"Once the land has been
declassified, it cannot again
be considered for classifica
tion for a period of 10 years
or until the merchantable tim
ber has been harvested."
Forestry personnel is in
specting areas for possible
classification, but it is impos
sible to examine all eligible
areas, Storm said. Hence, the
forester urges that interested
parties get in touch with de
partment officials and inspec
tion o fthe lands will be made.
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