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II y FRANK JENKINS
The world' trn.irnt drama, at
this iiiniurnl In history:
Place, Muiuinn, Korea, Time,
llilii morning. Dramatis personae,
Mujor Clenrral Howard M. Turner.
h negotiator lor our side at Hie
Korean truce conlcrcnce. and Chi
nese Major General listen Fang,
a communist negotiator.
TUHNKIt Ho Hslrhl: You have
rant yourself In the role o( a
bandit.
HSIEH (to Turner): You have
fully rxpoi.cd yuur uitly, leroelous
features ol a huudll.
TURNER: The United Nations
command did not come to Korea
to surrender. We hove no Intention
ol leaving Uie South Koreans to
your tender merries.
II8II01I: Your Mulement la rude
and ab.iurd. You have none too lar
in your absurdity and arrogance.
Nlre. gentlemanly business, Utls
negotiating with communists, Isn't
It?
Tills exchange oj Insults between
mir Oeneral Turner and Chinese
cominunl.it Oeneral Hsleh brink's
us lace to (aco (Rain with the 104
question:
How are you going to make a
deal with cattle like that?
I'd aav the only way we can
make a satlnloctory deal with these
power-mad communists Is to have
back ol us force enough to back
up whatever we say.
Then
When we gel force enough back
ol us
We should changa-our Uctlcal
Instead ol drulmir In bar room
Insults, we should speak ALWAYS
mildly and courteously. The llrm
words ol a mild mon who has
what It lakes to BACK UP HIS
WOIIDS carry great welRlil.
They carrv more weight In a
minute thon blustering words carry
in an hour. Everybody discounts a
blusterer.
! Let's ro bock to Teddy Roose
vclt'a advice:
"Speak soltly and carry a big
stick."
Portland:
"Ball of 12000 held Milton 8.
Anthony, SO, In Jail Saturday on a
tiiurife of counterfeiting at the
Mute prison. 'Hie government's
case will be thai the counterfeiting
was done while Anthony was serv
ing a term In the Oregon peniten
tiary." It was DIMES he counlerrlted.
. and so far at known he made only
u ol them, lie used a crude mold
M. lo which he poured Babbit metal.
I d guess that the metnl cost about
as much as a dime Is worth.
. Whv did he do It?
i, BOREDOM, probably.
Thai's one ol the Inherent de
fects ol our prison system. Inmates
f our penitentiaries have little or
nnlhlim to do that by any stretch
if Imagination could be regarded
' constructive.
k they cook tin deviltry.
itan, you know, will find some
' for Idle hands to do.
it has seemed to me for a long
.inic that SOMEHOW we ought to
nut Inmates of our pennl Institu
tions to work MAKINO USEFUL
"yJIINCIS. Pay them wages, Im
poiind their wages, perhaps. Pay
Ihem the money when they .have
M-l'vcd out their terms, thus giving
Ihem a llltlc honest capital to
start out on. Maybe thnl might
help thorn to go strnlght.
It certainly couldn't be any
worse than our present system.
il Set For
Counterfeiter
PORTLAND (IF) Ball of 2000
held Milton S. Anthony, 58, In Jail
Saturday, on a charge of counter
feiting at. the Stoto Prison. Ball
of $500 llkewiso held Mrs, Lucy
Mcainnls Jackson in tho same
case. (
They appeared before U.S. Dis
trict Judge Ous Solomon Friday.
He set the amount of bull and
ordered tho two to nppenr Tuesday
nftornoon for formal hearing.
It was a matter or 50 dimes that
put thoiri lit custody. Mrs. Jackson
whose common law husband Is In
prison was accused of passing
them, Flank J, Kcnnoy, secret
service ajgrnt, said she admitted
.she had. i She said she got them
In a tobacco sack from her hus
band. Ho husband said he found
them whl o working on the prison
larm.
The government's case will be,
Kcnncy said, that the coins were
made from molds which Anthony
had In his possession last October,
nnif were turned out At the farm
while Anthony was sorvlng a pri
son term. So far as police have
made known, tho molds have not
been located.'
I ';" ;fc
Yinnieln
Washington
For Confab
By .IOIIN M. IIKSIITOWI'.R
WASHINGTON !) British
Prime Minister Winston Churchill,
arriving lor momentous talks on
Anglo - American relations, told
President Truman Saturday that
cooperation ol their two countrlea
can assure "peace and hope and
sulvatlon on earth lor struggling
mankind."
Churchill was welcomed by Mr.
Truman as ho stepped down from
the President's personal airplane
winch brouRht the Prime Minister
here from New York for his ilrst
visit to America since IMS.
The two shook hands warmly,
and Mr. Truman told Churchill:
"Mr. Prime Minister, I can't tell
you when I have had more pleas
ure than I have had today In wel
coming you to the United States of
America.
"Ureal Britain and the United
States have always been the clos
est iriends. We want to keep them
mat way.
He adurd he was sure they would
and mado his reference to peace,
Mr. Truman added a last word,
"Peace on earth Is what we are
both striving lor."
Churchill's mission was. In his
own words, to "build up again
some ol that Intimacy" that ex
isted bctwren his country and
America during World War II. "We
shall do It.' he said.
He gave that as his purpose In
a brlel neus conference at. .New
York where ho transferred, .from
ocean liner to coast guard' cutter
to airplane. '
Churchill also said at New York
he believes "the prospects for
world peace are solid In 1952."
The list of subjects the Prime
Minister and the President are to
talk over ranges from atomic wea
pons to relations with Russia, from
the Korean war and armistice talks
to the defense of the West. It also
Includes such matters as prospects
ol peace between the Arabs and
Israel.
Allied, Red
Planes Clash
SEOUL Wi American Sabre
Jets and Communist Mips tangled
In a 20-mtnute aerial duel over
Northwest Korea Saturday but
neither side Inflicted any damage.
The clash between 21 Allied F
80s and 40 MIO-15s was the lirs't
aerial combat since Thursday. Sa
bre Jets were grounded Friday by
snow.
Overnight fighter-bombers claim
ed destruction or damiiRe to 80 en
emy vehicles In attacks on an es
timated 1,200 vehicles moving un
der cover of darkness.
Unlled Nations forces on the
Western Front, an Eighth Army
communique said, launched a counter-action
west of Korangpo early
Saturday "lo complete rceslabllsh-
ment of advanced positions" lost
lo Kens ucc. 28.
The forces reported limited ad
vances In attacks at throo points
against enemy groups wnose com
bined strength was estimntcd at
greater than two companies. The
rest of the Western Front was
quiet.
QUAKE
HONO KONO 11 A Commu
nist Nrw China news agency dis
patch from Kunming said Satur
day that an earthquake In Western
Yunnan Province Dec. 21 killed 300
persons and Injured 1,537.
9 fftladt Special .
LOIS HARPER (above) 4771 ,
I'reida St., has a steady .
smile despite the many ups
and downs in her life. She's
an elevator operator at the
Medical Dental Building on I
Main St.
n n i it mi IT mCt iff ii i ' r-'h "'I'll m itti it r t -i mi mi i in ri r I i mm! :
Price Five (.'enls 12 'I..& .ATII FALLS. OKKtiON. SATURDAY, JANUARY 5, 1952 Telephone 8111 No. 2706 J
FANCY IS THE FIGURE cut by Henry Decker (upper left)
on the Moore park skating rink ice. Decker, 5ih grade
teacher at Pelican school, is executing a "Flying Dutch
man." Patty Fritts. 514 Pearl, gets a hand from (upper
right) Louise Flowers, Pelican Bay street, in putting on her
shoe skates, and (lower photo) a two-some on the ice is
formed by Carol Phillips, 810 Wocus, and Sharon Davis,
Lakcshore Drive.
Federal Agents Still On
Prowl For Higher-Ups In
Drug World; Progress Made
lly CHARLES F. BARRETT
WASHINGTON i.fl Federal
agents prowled through the sinis
ter narcotics underworld Saturday
seeking even bigger game than any
of the 600 suspected dope peddlers
already seized in a sweeping na
tionwide dragnet.
Narcotics Commissioner Harry
J, Anslingev said, the roundup,
which started before dawn Friday
and continued around the clock, Is
Art Robison
Said Better
Mr. and Mrs. Art Robison,. 607
Van Ness Ave,, seriously Injured
In a Nevada highway collision Dec.
31, were reported as Improved in
arl Elko. Ncv. hospital today.
A Montana woman was killed In
the wreck and her daughter criti
cally Injured. ,
The Montana car was reported
lo have skidded Into the Robison
car.
Robison, foreman of the Balslger
Motor Company wrecking service
hero, Is expected to- be released
from the hospital In about three
days. Mrs. Robison, more seriously
Injured, Is expeotcd to be confined
for at Icasr'nnother. lO.days. ,
Tho Roblson's four children aro
being cared for by the Barney
Hyden's, 2733 Crest St,, relatives
of the Roblson's. r . ; .; -.,
if,
laying Ihe groundwork for capture
of some of the nation's biggest ill
clt drug dealers.
A grand jury Investigation al
ready under way will lead to cap
ture of ome national racket kings
within three weeks, Anslingcr pre
dicted. He added he couldn't say where
the Jury is working because "If
we even mentioned the name of
the city, some of the men who are
talking will be killed."
Meanwhile," .the commissioner
gave credit fo the blRgest mop
up of dope peddlers ever staged
to undercover men who pose as Il
licit dealers. They work their way
Into the heart of the crime world,
risking their lives to put racket
eers behind bars.
About 100 federal agents and
govcrnmont-paid Informers are
malnlng underground to conth
the cleanup, he said. Scores i '
to give up their roles of danger.',?
Intrigue to make tho arrests '1
appear In court with evidence! ,
Ansltnger said illicit drug tl. '
fic has been dealt a crippling bio .'I
Tho drive is aimed especially J
suppliers of teen-age drug addicts.
Snow Drives Out
Hercules Crew , :
' A stump blasting crew moved
Ints the Tlonesta area south of
Tulelake has been forced to quit
work due to deep snow. About 25
men wore employed. Work will be
resumed, when weather conditions
permit. , ,
" Stumps blasted will be shipped
to the company plant here,-
Tow Secured On
Crippled Freighter
Captain Has Chance To
Win Battle Against Sea
By ERNEST AGNEW
LONDON, (IPy Tho crippled Fly
ing Enterprise started under tow
toward Falmouth Harbor at a te
dious three knots Saturday. Her
skipper, Capt. Kurt Carlsen, who
refused stubbornly to abandon his
wallowing ship In the face 'of a
wild storm, was Jubilant and con
lident that he Is going to win his
long fight against the sea.
'ine commander of the U.S. de
stroyer Wlllard Keith, which ar
rived to watch over the stricken
American freighter and her dough
ty captain, reported: ."The tow Is
riding smoothly."
Capt. Carlsen's nine-day ordeal
nearly seven of them alone In a
darkened and sadly listing ship
appeared over, unless the barrel
thick towing hawser breaks or the
swelling seas tip the vessel over.
For the first time since a hur-
Anger Marks
Truce Talks,
No Progress
By OLEN CLEMENTS
MUNSAN. Korea UPi Fraved
tempers snapped Saturday as truce
negotiators haggled over, how to'drunkenly in a vicious gale. One
police a Korean armistice. From
both sides of the conference table
came angry charges and blunt
warnings. There was no progress
toward a truce.
A U.N. delegate warned that (he
Allies will not be forced to bow
to Communist armistice demands
by the threat of growing Red air
power.
"You have cast yourself In the
role of a bandit . . .." said Maj.
Ocn. Howard M. Turner.
"You have fully exposed your
ugly, ferocious features of a band
it . . .," retorted Chinese Maj.
Gen. Hsieh Fang.
Using some ol the' strongest lan
guage since the armistice talks
began. Turner told the Reds "the
United Nations command did not
come to Korea to surrender." and
"we have no intention of leaving
the South Koreans to your tender
mercies.
Matching Turner word for word'nual meeting held
Hsieh replied: "You represent i Winema Hotel.
yourselves as angels of peace and ! He succeeds Wilbur Reiling Poe
continue to Interfere in Internal at-! Valley, . whose term of office ex
lairs, pired this week.
"Your statement is rule and ab-1 George Reiling. Poe Valley was
surd. You have gone too far hi .elected vice president of the'asso
your absurdity and arrogance.", elation, and J. D. Vertrees was re
in a nearby conference "Tent, elected secretary.
United Nations and Communist ne-1 Stanley Masten, Poe Valley was
gotiators haggled fruitlessly for 'elected Klamath Falls Creamery
more than three hours over how representative, and Wilbur Reiling
prisoners of war should be ex-! was selected to represent Medo-
changed.
"Their arguments are getting
prettv feeble." said Rear Adm. R.
E. Libbv. "It Is obvious they are
killing time waiting for instruc
tions." Libby said the Reds refused to
answer another request for an
Immediate exchange of sick and
wounded prisoners.
Subcommittees working on the
problems of supervising an srml
were deadlocked when they ad
journed, but both scheduled meet
ings for 11 a.m. Sunday (6 p.m.
PST Saturday) in Paninunjom.
U.S. Asks Rap
For Invasion
WASHINGTON W The United
States Is described as believing any
truce made with Communist China
and Korea should carry with It
warning that a violation would
bring air-naval punishment upon
Red China herself.
The government was reported In
well-informed circles to be, advis
ing the other Allies in the Korean
war that it thought such an Im
plied ultimatum should bulwark the
provisions of any armistice.
In proposing that definite meas
ures be set up to discourage re
newed oBgresslati. by ihe Asiatic
c inunist satt-XrW nations, the
iDDl ed Stfiie apjptjTrs to be mak
vvi -o nevKdemands for- the ac
, 'uce tcVms under negotiation
., j- jnmunjoiriv It seeks only to
( ,ai-antee their Vbservance.
I -Vibat the United States Is re'
pdljkl yktbe proposing is mis
fluffed a truce vas agreed to.
Communist forces should seek to
cross the truce lino for a renewed
aggressive strike at free South Ko
rea, punitive measures should be
Instituted promptly against the
present Chinese stnetuary.
There would bi no effort to put
ground forces H .'hoie for Invasion
of the Chinese rr a inland. Nor would'
atomic weapons' Ob invoked.
But Red China's ports, war goods
firoductlon centers and sea and
nnd transport would be subjected
to bombardment by planes - and
ships. An airtight blockade of coast
wise and river commerce would be
clamped upon her, with bombs,
naval gunfire and mines used.
ricane cracked the Flying Enter-
prise across the middle and left
ncr helpless some 300 miles off
England's southern tip on Dec. 28,
the weather was reported "calm
and the visibility is good."
Snaking the helpless Enterprise
to port is the powerful sea-going
lug Turmoil, which managed aft
er 30 hours of struggle to secure a
lowune to tne now ol the Ireighter.
On the deck of the Enterprise-
tilting at a perilous 70 to 80 de
greesthe stubborn. Danish-born
snipper still stands, joined now by
uie i urinous rirsi Aiaie Kennetn
Dancy, watching the groaning
hawser ease his ship along.
it tne weather continues. ' said
the Keith's captain, "it will take
about four days" to bring the Fly
ing Enterprise into Falmouth. "If
this weather continues, the situa
tion will be in hand. Both Carlsen
and Captain Dan Parker of the
tug Turmoil firmly believe so
too.
The hearts of seamen the world
over and many a landlubber, too;'" a iuss inursaay aiiernoon
also were on the Enterprise
wishing the 37-year old captain
well. Old sailors in England, who
hailed Carlsen's devotion to duty
as being in the highest tradition
oi the sea. planned to welcome the
skipper when he comes ashore.
carlsen began his lonely vigil a
week ago, defying the heaviest At
lantic storm in 50 years. He or
dered his 40 crewmen and 10 Das-
Iseneers tn iumt) overboard in nairs
iwhen the shin's hull cracked anrt
i the helpless Enterprise rolled
seaman died in the plunge but his
body was recovered. All others
were picked up by nearby ships.
Capt. Carlsen . chose to slay
aboard his ship "rjntil I am towed
or 'sunk-- tb avoid "any" "possibility
that the vessel and its cargo might
become a derelict "free prize." A
spokesman for a New York in
surance syndicate said the eight
year old, 396-foot ship is insured
for $1,250,000.
Geraghty New
Dairy Chief
Lawrence Geraehtv. Merrill
dairyman, was elected president of
the Klamath County Dairymen's
Association during the group s an-
today in the
Lajid.
Fire Destroys
Big Qoat Plant
PORTLAND Wl Fire destroyed
a boat-fabricating building at the
multi-million dollar Timber Struc
tures, Inc., plant here Friday
night.
The loss was limited to S75.000.
as liremen confined the flames to
the single building.
More Money
Survey of Local Banking Houses Reveals
(This Is the fourth in a series
of articles dealing with Ihe eco
nomic present and future of
Klamath Falls).
By HALE SCARBROIGII
There was more money in circu
lation in the Klamath Basin last
year (1951) than in the previous
year the problem was to hold on
to any of it.
Also, a good deal more money
was owed to banks than In the
year previous, and savings ac
counts generally were up.
Those facts were apparent from
year-end statements of condition of
the various banking institutions in
this area and the figures are those
furnished by the banks to the Comp
troller of Currency as of the end
of their business year.
Bank clearings, or debits, are a
reasonably sensitive barometer of
the circulation of money. They re
fer to checks written on drawing
accounts and since in these days
most paying and spending is done
by check, clearing figures show as
well as any statistics how riiuch
money Is being shuttled around.
The Klamath Falls branch of
First National Bank reported 1951
debits totaled S174.630.316, com
pared to $151,717,628 in 1950 a gain
of almost 16 per cent. The S. 6th
Street branch had a 42 per cent
increase: $1,630,238 compared to
$1,149,213. The United States Na
tional Bank, Klamath Falls brancn,
reported 1951 clearings amounted
to $96,682,000, a shade more than
6 per cent over the $91,100,000 of
1950.
. A probable factor In the Increase
Have The Mink
Said Anything
About It Yet?
WASHINGTON I Amerl
:an mink farmers say the mink
coat publicity bobbing up in
overnment scandals is hurting
:helr $100.000,000-a-year indus
try. Something, they say, should
be done.
They said Friday the stories
lbout political figures involved
n the scandals buying mink
joau or getting them as gifts
has put an "unjust stigma"
n their product.
It has hurt business, they
complained, and asked the Na
tional Grange and the American
Farm Bureau Federation to help
Dffset the "false and damaging
publicity."
Harold W. Reed of Elkhorn.
Wis., representing the Mink
Ranchers' Association appealed
to the farm organizations "to
aid us in correcting the false
uii damaging publicity which
has resulted In the sordid oper
ations of a handful of irrespon
sible people."
But he didn't say how this
could be done.
Drugstore
Sticks To
Youth Ban
"Walgreen's Corner" and the
drugstore itself, were unusually de
void ol teenage high school-age stu
dents yesterday afternoon.
Store Manager Edward Webb
stuck to his promise the teenagers
I would not be allowed in his store
! which saw rum calling pouce to
clear t"' store,
Yesterday the youths went into
the store. But Just as quickly they
came out again, some witn per
plexed expressions on their faces,
others laughing and joking about
the situation.
Webb was standing inside the
door, telling both boys and girls
their trade was not wanted.
A group of boys, some with
freshly lit cigarets dangling from
their lips, stood outside the store.
Some of them commented, "It's
dirty. We can't get in the door
anymore."
Another stated. "It's chicken. He.
can have the place."
Still another said. "Where do
they expect us to hang out, in
taverns?"
Police were called again yester
day afternoon and Webb told the
four officers responding In a paddy
wagon and prowl car that "one
youth had got kind of smart with
aim."
The boy in question, a 17-year-
old student was questioned by an
officer outside the store and then
taken to the station in the paddy
wagon for further interrogation. He
was later released after an officer
said, "He learned the error of his
ways.'
Arrival ol police broke up the
crowd which dispersed to other
hangouts along Main St.
Poison Paint
Charge Filed
OAKLAND. Calif. I.fl A Ber
keley surgeon charges in a $277,-
100 damage suit mat leinai vapors
from gold and stiver paint used
to spray Christmas decorations
killed his wife and youngest child.
Dr. Edward N. Ewer, former
president of the California Medical
Association, sued the paint makers,
the Alumatone Corp. of Los An
geles, and one retailer, the Elm
wood Hardware Co., of Berkeley.
According to Dr. Ewer's attor
ney, Marshall Ricksen, laboratory
tests Disclosed poisons in the paint
"which still is being sold In the
bay area."
in Circulation
In clearings is that the cost of
living continued to rise in 1951, so
that checks written in 1951 to cover
such items as groceries, clothing
and the like had to be written fur
larger amounts than they would
have been for the same Items in
1950. Another factor undoubtedly is
that some people, by pay raises
and by higher prices received for
farm products, had more money
to spend.
Five of the six Institutions re
porting in this survey showed loans
outstanding as of the close of 1951
business were higher than at the
close of business in 1950. Only the
Merrill branch of First National
showed a decrease about 5 per
cent.
Bank of America at Tulelake re
ported Its outstanding loans Dec.
31, 1951. came to $5,056,565, a 28
per cent increase over the' Dec, 30,
1950 total of $3,947,110. First Fed
eral Savings and Loan showed a
13 per cent Increase $5,419,879
compared to $4,794,983. A lesser In
crease, 10 per cent, was reported
by First National, Klamath Falls
$11,497,984 compared to $10,442,747.
U. S. National showed a giant per
centage of increases in Its loans,
65 per cent $5,546,489 compared to
$3,359,664. Frist National's S. 6th
branch had a 21 rjer cent increase
$1,132,620 compared to $932,954.
Checking account denoslts In
four of five institutions also were
higher Dec, 31, 1951, than for a
year previous. The lone decrease
was reported by First National.
Klamath Falls, and it was frac
tional. U.S. National's deposits were
up something less than 6 per cent;
January 19
Date To Be
Effective
WASHINGTON Wl The gov
ernment Saturday ordered i I in
tu per cent rollback In the pric
of white potatoes, one of the na
tion's biggest food Items.
The Office of Price Stabilisation
said the cutback would be re
flected to consumers after Jan. 10,
the ellectlve date of the order.
Price Stabilizer Michael V. DISalls -said
"the brake this regulation will
appiy to tne accelerated rise In
potato prices will save the con
sumer mllllans of dollars."
The OPS order provided the big
gest rollbacks for higher-priced po
tatoes such as those grown In
Idaho.
George L. Mehren, head of the
OPS food and restaurant division,
said the rollback will hit immedi
ately the farm and shipoair level.
I He told a news conference the
reduction will be from present
price levels to about the level of
parity.
Parity is a price aimed at pro
viding farmers a fair return for
what they sell In relation to what
they buy.
Potato prices have more than
doubled In the last year. They
were at 105 per cent of parity as
of Dec. 15.
DiSalle signed the order Friday
night but details were held up un
til HHJft.
Local Dot a to
spudmen everywhere, are strongly
protesting the placing of prlci
ceilings on potatoes.
in a telegram to Washington, the
Klamath Potato Growers Assoc.
pointed out that the growers felt
ceilings would require supports
also, and thev "An nnt. ni.h n t..
lorcea 10 asK lor supports."
iue growers say mat
fni th
first time In recent years they are
on their own there were no sup
ports this year for potatoes. With-
uui me supports
this year thev
nave Drought
with demand.
production in line
Last year, apparently due to sup
ports, the potato markets were
flooded with the areatest nnt. in
crop in history, and consequent
prices which hardly returned the
cost of production to the growers.
The Klamath Growers Assoc.
noted that most of this year's
crop has been sold already at
prices well below parity (a figure
calculated to give the farmer a
fair return in what he sells In re
lation to what he buys! and that
the crop's retting price won't even
average parity unless the remain-
aer is allowed to sell at
prices
aoove parity.
Potatoes opened this year at
slightly above S2 per hundred
pounds on the local buyers market.
Approximately 5.400 of a 10,500 car
crop have already been shipped,
according to figures released by
the State Dept. of Agriculture of
fice here. Later prices at which
a good part of the crop was sold
centered around the S4 mark. High
est price so far reported here Is
$5.35.
Grants Pass
Still Raided '
GRANTS PASS. Ore. Wl State
police seized a 50-gallon still and
three gallons of moonshine whis
key Friday night and arrested Jack
Wilson, 50.
The still including a copper boil
er and coil, a 50-gallon mash con
tainer and a gas operated 50-gallon
condenser was located near
the Wilson home a mile west ot
here. State Policeman William Al
len said. One bottle found was la
belled "Kentucky straight corn
whiskey." he said. '
The federal revenue agent at
Klamath Falls was notified.
DIES
PORTLAND Wl Henry Thlele,
69, chef and restaurant owner,
died at his home here Friday
night.
During 1951,
First National S. 6th. up 22 per
cent; First National, Merrill, up al
most 50 per cent; and Bank, of
America, Tulelake, up 44 per cent.
Savings accounts were also up
generally, but by not so large a
percentage. First Federal Savings
and Loan, for Instance, had a
slightly more than 13 per cent In
creasefrom $5,910,259 to $6,675,
717. It would seem, 'In the light of
the continuing rise in prices and
shrinkage in the value of the dol
lar, that bank savings aren't par
ticularly a good Investment.
The National City Bank of New
York figures that savings and gov
ernment bonds gain from 2 to 2.9
per cent 8 year, while the value
of the dollar Is shrinking by about
5 per cent a year.
Where savings are a good invest
ment Is in saiety, for one thing,
and as an anti-Inflation measure
In another. Savings take money out
of circulation that would otherwise
be used in buying, thereby tend
ing to drive prices still higher.
The fact that loans are higher
now than a year ago. In the face
of Increasing governmental restric
tions probably can be interpreted
In large measure to mean a confi
dence In the future.
' Businessmen, Industrial
ists, ranchers or even homeowners
don't go to the bank to borrow
money to build or expand, buy new
equipment or carry heavier Inven
tories, unless they're reasonably
certain In their own mlnda that,
the future shapes up pretty well.