MONDAY. JUNE 2. 1958
HERALD AND NEWS. KLAMATH FALLS. OREGON
Morty Meekle
ggfe
Six Guilty
Of Mail Fraud
PORTLAND (API A U.S. (lis
trict court jury, after a day of
contusion, baturday convicted six
men including a blind bomber
extortionist o f mail fraud
charges..
Those fnilnri enilfv wora William
Clarence Peddicord, a blind chem
ist serving 20 years in prison for
the li)55 bombing of Meier and
Frank Department store here, and
Sherwin Shoen, both of Portland:
Herbert Hass and Daniel W.
Campbell, San Francisco; Bart
Grant ot Los Angeles: and Hard
ing Cacy of Santa Rosa, Calif.
Wilson Fothergill, Portland, was
acquitted.
The seven were accused of
fraudulently using the mails in the
sale of distributorships for such
specialty items as battery additives.
On Friday, the jury returned a
verdict for conviction of the seven
men. But the verdict form for one
of the accused also carried a pen
cilled noiaiion. Judge William
Kast sent the jury back to clarify
that.
Several hours later the jury sent
out word it was reconsidering the
case against all seven.
The judge then polled the jury,
members ot which disavowed the
earlier announced unanimous convictions.
At this point, Judge East re
submitted the entire case to the.
jury. And late Saturday night, the
second grip of verdicts was returned.
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Major Cause Of Recession Cited By Business Leaders
WASHINGTON (API A grOUT
of top industrialists and businrs
leaders agreed today that the
chief cause of the recession wa
a breakdown of a major economic
principle tht law of supply and
demand.
But they disagreed on ways to
bring the two back into balance
and on the role the government
should play in revitalizing the
economy.
Some suggested tax cuts. Sever
al advocated srppped-up govern
ment expenditures for public
works and other projects. Others
called for curbs on labor union
powers.
A task also was delegated to
business itself to give the con
sumer more attractive products
at lower prices.
The views were given in re
sponse to a questionnaire sent out
Feb. 17 by the Senate Finance
Committee, which last year be-
?an a study of the country's finan
cial condition.
The replies showed that most of
the 14 executives believed the na
tion had just about reached the
bottom of the slump.
Two company presidents
Ralph Cordiner of General Elec
tric and F. W. Ecker of Metro
politan Lite Insurance said the
government snould play its major
function in providing financial
help to the uneinplowH and in en
couraging sound monetary poli
cies. While taxes may be hign.
they doubted the wisdom of cut
ting them now.
However, Harlow H. Curtice,
president of General Motors, said
an across-the-board tax cut would
be the simplest and most effec
tive move for the government to
make. He said the psychological
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unpan wouia go .a long way
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Several others advocated tax
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Presidents J. W. Keener or the
B. F. Goodrich Co., F. E. Jerome
of the Seattle First National Bank
and Porter M Jams of Swift and
Co. called for a sit-tight policy on
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the part oi the government, at
least for the time being.
Most of the 14 took the view
that deficit financing by the gov
ernment .iad not contributed
greatly to the inflationary spiral.
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