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About Herald and news. (Klamath Falls, Or.) 1942-current | View Entire Issue (July 5, 1945)
Hull Signs Security Charter HERALD AND NEWS THREE -IT WAR ON REAL ESTATE Thursday, July 8, 1845 BOARD OPENS I.? ..rum Aim. - BOOH By MAX HALL WASHINGTON, July 0 (P) Tho iiuvurnmimt today begun un uttiick HHUlnnt liilliitlon In tho Hold u roul estate und securi ties. Worried over npccultitluu und rliiliiif prices, Ihu lU-inim eco nomic stnblluiilloii bourd huud vd by Wlllluin H, Duvis Im report- I'd lU llHVU U)ll'OWd llIIIIIlllllUUH- ly a thruo-polnt pruKriini. Tho firm point was to limit louiut fur buying stuck cxcIiuhko securities, The fudurul reservo bourd did Unit by ruining tint nnirulii requirements from 00 to 73 pur cont, effective toduy. Other Polnti Tho othor two point will bo hurdcr to put through. They uro: 1. Limiting Iuuiih for buylnK roul estate. This needs an order from tho White House, Tha KUib!ll.utlon bourd him recom mended Hint President Trumun give tho fodcrul reserve bourd nuthorlty to ri'ituliito inortguKi's on farms and homoii tho way It now regulates atock murkot " tho reserve bourd probably will require, cortnln down piiymonbi In buying furma and urban roul ..estate. 2, Slapping heavier taxes on those who buy roul estate or tocka nnd acll them quickly at a profit. This needs an act of congress. Tho present law anya such profits uro exempt from In come tuxes if tho property ia hold alx months or more, Tho proposal la to extend tills to three your, thus discouraging speculators who might wnnt to sell in n shorter time. Not Announced Dnvla, director bf economic stabilization, has made no an nouncement of tho prniirnm. Ap parently If la up to higher au thorities to curry tho bull from . I.tllt It lliak nfrll.H I IdMIIMfl hero nllhfir War Mnblllzor rrort Vinson or Mr. Truman himself. Raising nf tho margin re quirement! Involved no rod tape because congress lonI ago gave the federal rcservo board this authority. A margin of 75 per cont means that anyone buying atock ex chanHO securities on credit must put up 78 per cent of the nrlee himself and can borrow only 25 per cent from his banker or broker. Tht reserve board acted after consulting with Dnvls. It U rep resented on tho stabilization board, along with several cabi net members and olher federul officials, plus representatives of labor and Industry, ' FROM LOCAL HOUSE The home o Phil J. Brick, S38 Lincoln, was illegally entered somctlmo during tho night of . July 2, according to a police re port, with entry being gained through an unlocked window. Tha houso wua thoroughly ransacked and burned mutches were found strewn over tho floors. The only thing found missing was a piggy bank con taining approximately $10 In amnll change Police aro Inves tigating. George IIowo of Wlnncmucco, Nov., posted $:i bnll for making an Improper U turn, and Lewis Itundell, route 3, Klamath Falls, posted $5 bull for having no operator's license. Fifteen drunks appeared In police court this morning. An additional 16 drunks, lour dis orderly conduct cases, and one drunk and disorderly conduct case bnilcd out. There aro 33 men and two women in tho city Jnll at present, . Tropical orchids bloom In the snow-rlmmcd volcnnlc crater of Anlukehuk, on tho Alaskan pen insula. . (NBA T.Upholot Cordd! Hull, former Secretary of State and member of U. 8. delegation to Bun Frunclsco's World Security Conference, signs the charter adopted t history-making parley. Because of 111 health, Hull was unable to at tend conference but signed charter la Washington. . . Flashes of Life READY CASH MANCHESTER, Conn,, July 8 (!') Uus Waltz didn't expect to be rewarded so quickly lor his good deed. When ho stopped his bus to remove a pllo of broken glass from the puvcincnt ho found a dollar bill und a 28-ccnt pioco. . SETS LOFTY GOAL ' SEATTLE, July 8 (T) Dr.' J. Howard Snivcly, a mountain climber desplto ills 67 years, has clambered up 00,000 feet of mountain so vosj this season. With his two - aons, - Bob . and Howard. Jr., ho has mustered 13 peaks, - Including B701-foot Ml. St. Helens. - Ho wants, mild Dr. Snlvely, to get 100,000 feet of altltudo under his boots before tho summer closes.., i - , . . 1 WAVES' WA8H WAVES PUEULO. Colo., July 8 (!) Milady's dainties hung from clotheslines airing up In a boxcar attached to a passenger train which passed through Pueblo. It developed tho train was toudcdwlth Waves. .. . THEY'D WALK A MILE SAN FRANCISCO, July 8 (VP) Charles M. Jones, 27, and Clar ence M. Jucobscn, 30, wcro re captured 24 hours after they had scaled tho walls of the county prison farm at San Bruno, Their excuso for flight: They wcro short of cigarettes and It preyed on their nerves. They produced packages to prove It, LESSON ALBUQUERQUE, N. M.. July S (!') Bill Bellamy, plainclothes officer, called a cub. Tho driver proceeded the wrong' way through a one-way alley despite Bellamy's comment, then turned agaltiht a red light, double-parked when there was space at the curb and finally doublc-puikcd again. Then Bellamy got out, paid his fare, presented ' a truffle ticket reciting three charges and called another cub. OREGON FALLS SHORT PORTLAND, July 8 (!') With only three days left to gb, Ore gon's E bond sales were, still more than seven million dollars short of tho $38,000,000 goal to day. Sales aro now $47,883,447. On tho allover. totul, Oregon aoared ahead to $171,469,647188 per cent of. tho quota. 'e'4 is closed for the annual staff vacation . . '. and will re-open Thursday, July 12. KILLED IN BORNEO NEAR BALIKPAPAN,' July 4 (Delayed) OP) Two Australian war correspondents were killed yesterday by a burst of Japanese machine gun fire as they rested by a building in tho ruins of northern Ballkpapan. They wcro William Smith, Australian department of in formation reporter . sometimes called the Australian Ernlo Pylc, and John Elliott,' news com mentator for the Australian broadcasting commission. Officers said they wandered 700 yards ahead or me Ausira llan lines to within 300 yards of the enemy. Eighteen Aus tralian correspondents and photo graphers have been killed in all theaters of war. STODDARD FINED TULELAKE Guy Stoddard, 37. resident of Klamath Falls. charged with' drunk ' and dis orderly conduct, paid a fine of $28 in pollen court Monday night. i Stoddard, arrested by Police Chief Frank Rhodes,' appeared before Police . Judge - Irving Capck. 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