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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Sept. 23, 1959)
MIPS n 2 IT! Medford Tribune 2n SEaiON MEDFORD, OREGON, WEDNESDAY, SEPTEMBER 23, 1959 Pages 1-6 Spain In 'Midst off Economic Stability Fight To Attain ffor (PoDStocaD IPeace Editor's note: This is the second of four dispatches reporting on Spain ' today its world role and its domestic situation. By HENRY F. SCHULTE UPI Correspondent Madrid (DPD Spain is in the midst of one of the most crucial periods in its post Civil War history a "make-or-break" fight for economic stability. Success of its new and am bitious plan for overhauling the nation's economy could spell years of political peace, failure could plunge the country into political and economic chaos. Sometime within the next 18 months, the success or fail ure of the battle ill become apparent, according to for eign and Spanish economic experts, including the nation's farsighted Commerce Minis ter Alberto ,Ullastres. Wait and See Attitude Most of them have adopted a "wait-and-see" attitude when it comes to predicting whether the economic over haul, begun in mid-July, will be a success. But all agree that it started well. On July 20, the government announced the first step in a program aimed at bolstering f r. -"j,;- " Y, t mmmm m '; SI i f - i ;'-' J -' ;;ty r $ BENDING OYER MELON, Soviet Premier Nikita Khru shchev gives undivided attention to luncheon at National Press Club, Washington, before addressing gathering. FroEDe (Ordered Dnto JSuying Ooaon mm Washington (DPD - House in vestigators are looking into charges' that big food buyers operating out of San Fran cisco have forced West Coast canners to sell fruits and vege tables to 10 large food chains at artif icially low prices. A five-man House subcom mittee has announced it had subpoenaed the West Coast food-buying records of the chains and the country's larg est food wholesaler. ; The subpoenas directed offi cials in charge of food buying offices operated by 13 differ ent, companies in the San Francisco area to appear with their records before, the House ' small business subcommittee at public hearings in San ; Francisco Oct. 8 and 9. -.1 . - The subcommittee, headed by Rep. James Roosevelt CD Calif.), is studying the? eco nomic plight of small compa nies engaged in food distribu tion. ; ' , Those subpoenaed included buyers for Atlantic and Pacif ic Tea Co., Safeway Stores, Inc., and The Kroger Co., three chains which together operate about 9,000 retail stores throughout the country. Also subpoenaed were buyers for the National Tea. First National, Winn-Dixie, Ameri can Stores, Grand Union Co., Colonial Stores and Food Fair Stores. - " ; In addition, the subcommit tee subpoenaed records of the Sah Francisco offices of Con solidated Foods Inc., described as the largest wholesale gro cer in the country, Topco , As sociates, Inc., and Regent Food Co. . ' Fraternity Members Expelled at USC Los Angeles (DPD - Some Kappa Sigma Fraternity mem bers have been expelled from the University of Southern California as a result of last week's hazing accident which claimed the life of Richard Swanson, 21. ...USC President Dr. Norman Topping also announced that other members of the local fraternity chapter -who were present at the initiation have been placed on disciplinary probation. He refused to name those involved or their num ber. 1 . Swanson choked to death when a quarter-pound piece of raw liver he was ordered to swallow lodged in his throat. . About 50 fraternity members were present at the rites Thursday, but allegedly refused to tell ambulance at tendants what had happened. Police said Swanson's life might have been saved if at tendants had known the meat was lodged in his throat. a sadly sagging economy. It devalued the peseta from 42 to the dollar to "60. The same day, Spain was admitted into the - Organization for Euro pean Economic Cooperation and became eligible for loans from international and pri vate organizations totalling about 400 million dollars. By the end of July, Spain had come up with a program that foreign experts here said was "much more specific, simpler, more direct and fast er than anyone had antici pated." To all appearances, the country settled down to its economic house cleaning with unexpected seriousness. Restrictions Relaxed In quick succession: . , -It relaxed restrictions on foreign investments, increas ing foreign participation rights in Spanish companies from 25 to 50 per cent. -It wiped out. many taxes that previously had tied up its import-export traffic in red tape and approved a long list of commodities that could come into the natior without any duties. -It made it clear to the av erage Spaniard that the next months would mean belt tightening. - , The government boosted the price of tobacco by as much as 37.5 per cent. The na tion's most popular brand went up from eight to 11 pes etas. . (From 13 to 19 cents Idaho Girl Found In Wrecked Auto After Eight Hours Nampa, Idaho (DPD - An in jured girl lay in the wreckage of her car for more than eight hours Tuesday before search parties found her. The girl, Karen Toolson, N a m p a,'was Ydriving home from a friend's house about midnight when her car appar ently missed a hillside curve on Sanitarium rd. about a half mile north of the Nampa State school. Went Over Fence The automobile went over the top of a fence and smash ed into a tree in the field be low. Motorists who passed by the scene later apparently were not alarmed about the wreckage - thinking possibly it was an old wreck because the gate to the field was closed and the fence undamaged. Both Arms Broken . The front end of the car was wrapped around a tree and the girl could not get out. She had two broken arms, fa cial cuts and a possible broken right hip. Miss Toolson's parents, Mr. and Mrs. Grant Toolson, noti fied authorities about 4 a.m. that she was missing. Wreck Mentioned But neither a ground nor an air search for her had any success until an unidentified Nampa man mentioned over coffee in downtown Nampa about 9 a.m. that he' had seen a wrecked car near the Nam pa. State school. He notified police about it at a friend's suggestion. " Police and sheriff's officers had to pry the girl out of the car. They took her to a hospi tal here. : at the new rate of exchange.) At the same time, it hiked the cost of gasoline by 40 per cent, presumably to cut de mand tir cars and the use of gas, an import that had prov ed a severe drain on the coun try's small supply of exchange currencies. . The cost of telegrams, tele pone services and rail travel also went up. There was talk that municipal transportation fares, subways and- buses, would be boosted and there were rumors of impending re laxation of the ration's con trolled rents. The average Spaniard, who had hailed the mid-July an nouncement of foreign aid as a sign that "we'll all be rich," began to grumble. To Avoid Increase - Then Ullastres,- who had helped to engineer the aid overhaul program, spoke out reassuringly. He told a press conference, "We do not be lieve there will be a large general rise in prices. "Perhaps small ones in some areas, but the mechan ics of th plan have been spe cifically set up in order to avoid a cost of living iricrease. In fact, there should be a drop in prices in many areas.". Economic observers here are aware "of the awesome dis tance Spain has to travel. Its foreign currency reserves early this year sank to below 100 million dollars. Its gold reserves were down to a mere 57 millions. Imports, which in 1958 to talled 849 million dollars were almost twice exports. Last year the government was left with a trade deficit of 363 million dollars. The nation's agricultural program, which accounts for about 70 per cent of its ex ports, was stagnant. While the national index of . industrial production rose from 138 in 1954 to 191 in 1958, agricul tural production rose only from 131 tp 434 in the same period-, , . ..:.iL. Trade Balance Seen - - v. So the question is whether the - governments - program, aidd by foreign loans, will be able to alter the picture. ; As one foreign economic ex pert here put. it: "Spain can do it if it doesn't drag its feet." The program is fine. It depends" on how it is carried out." Foreign experts believe that the aid promised from abroad will b enough to allow the nation to cut imports and boost exports until the bal ance of trade is favorable. If that can be achieved, they say, then Spain will have taken a major step to ward emerging from the eco nomic wilderness in which it it had been left by its Civil War and the subsequent pe riod of diplomatic isolation. Next: Franco's future.) 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