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About Herald and news. (Klamath Falls, Or.) 1942-current | View Entire Issue (Jan. 18, 1946)
Wall Street To Go On ' Cash And Carry Basis Due To Federal Action NEW YOnK, Jan. 18 (If) Wall Street prepared to go on cash mid curry bunt today an thu government acted to curb puculiitliin In tlui currant bull ,mrket by ordering 1UU pur cunt margin ruriiilrviiii'iilH on sucur Ity transactions (or tho first tlmo In history. A federal reserve board ruling Into yuHlorday nilmxl niuruln ro gulreinenlH (rum 70 to 100 pur cent, effective next Monday. Sumo broltuiH who preferred to remain iinoiiyme.ua frankly expressed doubt tho action would put a brake on specula tion. In financial circle thu movo bad been expected (or neveral weeks, Stock prlceii huvo ad vanced almost dally to within approach of tho 1020 level. The Inflationary turned of thu rise has become of lilt-reusing con- corn to imlliorlticri. In inaklnn thu announcement, Marrlner S, Kcclex, chairman of the federal reserve board, do clurcd: v No Recount "Thuru la no furlhur recourse left to thu board do fur un ro mlralnliiK snuculutlvo activities In llntvd HluckM In concerned, ex cept possibly to order lilt exlst Jlnu margin accountx be put on u rush biiHlN and to make lomu of tho administrative provisions pplyuiK to banks more rigid. Kmil Schriim, president of the New York Stock Exchange, Mid: "We are for unythlnu Unit will curtail unwise speculation In thu murkcl. He added tliat the news was expected and commented: "Thu market has been practically on u Third Incron Those who doubt (peculation would bo curbed pointed out it was thu third time within o ycur thut mnriiin requirements had been Increased. On Feb. S, 1049, they were mined to 50 per cent aid on July 5 again lifted to 78 pur cunt. But flnanclul statistics show Slayer Dies On Gallows WALLA WALLA, Jan. 18 (IP) The Ufa of Joseph B. Weasel nded on tho (follows it tho Washington stnlo penitentiary here shortly after midnight last nlKht, an ha paid the final pon Ity lor the murder of his five year-old daughter in Tucoma last full. Whispering his sorrow for , hiving killed his little girl, and hoping for his wlfo and family's I welfare in a. last tu turnout, Wos- i awi emorcti me cioain cnamucr t 12:03. The trip was sprung a minute later, anci he was pro nounccd dead at 12:10. Prison officials said that dur lng tho last 24 hours, despite ap parent nervousness, ,the con demned man never once denied his guilt and seemed prepared to pay for his crimo with his life. According to a court decision Weasel killed his daughter dur ing un altercation with his wife during which testimony revealed that lie apparently Intended to kiii or nun ins wire, lie was the lather of four children. Mis wife and sister visited him at the prison Inst week, tho one and only tlmo relatives have . seen him since ho was brought to tho prison Inst November. His was the prison's first ex ecution in 1840. HILLSIDE HOUSE f January Sunset describes an architect's carefully worked design for his own home. It's tops I I in Mit'iii ii ai-i ;i oil' CITY Delivery Service W pick Up and Daltvar PARCELS BAGGAGE PRES-TO-LOQS MESSENGER SERVICE SPECIAL DELIVERIES Phone 8417 BiOO A. M. to Midnight Wlllii M. Robinson . Oieor W. Anderson At lout Sesuuee. that the market vultio of stocks traded on the stock exchange to taled S73.7Uo.H00.7ni last Due. 31 highest slnco June, 1030 compared with $00,0011,270,111)4 on Sunt. 1, 1020, and $13,033, 470,377 on tho depression-low dato of July l, ivaz. Responsible Wall Struct Insti tutions have been concerned with speculation In stocks for several months. Harold L, llacho, senior partner or Hache & Co., recently cited "tho Indiscrimin ate buying of speculative Issues" In tho rising market. Toastmasters Hold Dinner Toastmasters club held the weekly dinner and meeting tho Wlllard -hotel Wednesday evening. Genu Oldham was act ing touKtmusler. Guorgu Conner was topic master, topics consist ing of one-minute speeches on "What you would require in postwar Items If you were to purchase one." The gcncrul critic for tho evening was Vlncc Clupp. There wuro four 10 mlnuto speeches by Sanford Scl by, Mel Henry, Paul Lee and K. O. Weaver. Two flvc-mlnute speeches by Gurry Robertson and W. L. Bullnrd. Visiting tonstmnstcr, Mr. Hur rison from Modford, was at the meeting and extended an Invita tion to the Klamath Kails club to meet with the Med ford club at Medford on March 18 for elimination contest to determine tho best spenker of the area to compvto at belittle during the week of July 23 during the In ternational Toastmaster conven tion. The entire meeting was re corded by George Conner and was played back so everyone had a chance to hear what he sounded like to other people, an opportunity vexy few people hove, listening to their own voice. Jet-Driven Plane Sets Speed Mark LOS ANGELES, Jun. 18 (IP) A Jot -driven Lockheed P-80 traveled from Son Francisco to Los Angeles in 42 minutes, 33 seconds yesterday, selling an officially-timed speed mark ap proximating 304 miles per hour. Tho pilot was Army Lieutenant Claude L. Wolford. 30, who learned to fly in 1023 in a 00-mlle-per-hour Jenny. tr By JOAN O'NEILL Last night at a Job's Daugh ters' meeting, flvo KUIIS boys wero elected to reign as king una knights of the annual King of Hearts formal w h I e h is scheduled fur February 15. Kuri linn non was chos mi Kim i'uuvm, Chick ! iTCi i. . .rmun' Joan O'N.IU Milton Thompson and Dee Nelson arc his four knights. These boys will be honored at the dunce whero they will bo crowned and knighted. Who's Who? Tho ballots for the Who's Who were distributed to the seniors yestorduy. These ballots were used to determine what seniors best fit certain quail tics such as best disposition cutest smile and so forth. The seniors arc allowed to keep them several days In order to fill them out. There may bo re voting in enso of ties. The final decisions will appcur in the El Hodco, And Incidentally Starting Monday an addi tional class in machine shop will be offered tho third period from it . m. to 12 noon. Members of tho I'ellcon bas ketball squad were the guests of tho Klwanls club yestorduy. They were excused from school part of tne lourwi period. The Salem gamo Is the big game for this weekend. A brief pep assembly was held this aft ernoon at 3:33 for it. Tho Science club Is sponsor ing a dance at school Immedi ately after the gumu tonight, Pedro Saddened And Puzzled Over Theft LOS ANGELES, Jan. 18 (IP) Pedro Serrano Is much saddened by the theft today of $1080 from the hollow window sill which he used as a bank. And much puzzled.- For they left '$1040 In tho sill. Serrano admitted it was a nice nest egg, but told police he plan ned to look for a now nest. Action Being Taken On Salem Air Base WASHINGTON, Jan. 18 (IP) Sen. Cordon's office reported to day that "immediate" action is being taken to allow Salem, Ore., to use the Salem army air base. Tho district army engineer's office, San Francisco, advised of ficials that permission would be temporary until final approval by the surplus property administration. Death Claims Infant Gi Berta Kay, 14 -month -old daughter of Mr. and Mrs. Al bert K. Scranton of this city, route 3, died early Thursday morning in Medford en route to their homo here from Doern bechcr hospital In Portland where the child had received care. Little Berta Kay had been ill since birth. In addition to her parents, Berta Kay is survived by four sisters. Julia. Marjorle. Viola and Bonnie, all at home; two half-brothers. Victor E., San Francisco, and Edwin of Med ford, and an aunt, Mrs. Charles Skeeters of Medford. Berta Kay was born In Klamath Falls No vember 10, 1044. Graveside services will be held In the IOOF cemetery at Medford Sat urday. The Perl funeral home Is In charge. Tha tlma to find out whathar your policy is properly written is BEFORE the FIRE, not AFTER I Consult Hans Norland, 123 N. 61h St. Friday. Jan. 18. IMS HERALD AIID MEWS THREE -White. 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