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About Herald and news. (Klamath Falls, Or.) 1942-current | View Entire Issue (July 30, 1958)
PAGE 2 A HERALD AND NEWS. KLAMATH FALLS. OREGON WEDNESDAY. JULY 30. 1953 Britain Said Willing To Meet Russia Outside UN LONDON (AP) The British government aid Tuesday it is willing to hold informal talks with Russia about the Middle Kast out ude the U.N. simultaneous with summit meetings in the U.N. Se curity Council. n. A. Butler, Conservative lead er in the House o( Commons, ap peared to indicate Britain would go some way to meet the objec tions of Soviet Premier Khrush chev to a Security Council session to arrange a summit meeting. Khrushchev charged Monday Britain and the United States were stalling, and again proposed immediate five-power summit meeting in Moscow or elsewhere In Europe. British officials said, however that this government's view still Is that Middle East problems should be tackled at a U N. sum mit session. The White House in Washington also said it still held that view. The matter was raised in the House Tuesday by Hugh Gaitskell, leader of the opposition Labor Party. "While we think it most desir- able that the oonlerence should be associated with the United Na tions," he aid. "we also strongly support the proposal that there should be private meetings sim ultaneously. .May we have an assurance that the government will not let the desirability of its association with the U.N. to obstruct the hold ing of a summit conference alto gether? Butler replied: "I can give an assurance on be half of the prime minister. It has always been his intention and that of the government that the pro cedure snouid be formal and in formal, and that would give the ERjCH MARIA REMARQUE'S 181111 11 Mil rill isAsai ODORS CPtN 6:30 p. LAST 2 DAYS U IMiM'l! Inifmlir.i! Piftud itimi JOHN GAVIN ULOPULVER i' M-G M IMn fcNmf WORLD WAR ITS MOST i..""V RIOTOUS ADVENTURE I sj'HI GLENN FORD RED BUTTONS i. iiiiiit-ii nrrT"-"-1,, opportunity Mr. Gaitskell desires. "1 do not anticipate that the prime minister or the government will delay in any way in making a further answer to Mr. Khrush chev's letters. "We shall consult urgently with our allies about this as regards arrangements for a meeting." British informants said Prime Minister Macmillan still thinks the Security Council's permanent delegate should get to work the time, place, composition and other arrangements for a special summit-level session. An effort was begun toward re conciliation of positions with France. Foreign Secretary Selwyn Lloyd asked French Charge D'Alfairs Baron G. De Juniac to come see him. Earl Atlee, former Laborite prime minister, told the House of Lords the British govern ment should take a stronger lead in the Middle East. I do not think that our Ameri can friends have the wealth of ex perience that we command in this country on Middle East prob lems," he said. "DENNIS THE MENACE" State Reports Timber Fires SAN FRANCISCO (AP) More than 300 grass and timber fires blazed in central and northern California today as the death toll from a lightning storm reached seven. About 2.0(10 firemen fought the blazes along the High Sierra font hills from Tulare County, 175 southeast of San Francisco, to Modoc County, the most northeast ern in the state. The death count from the Mon day storm increased by two yes terday as a fireman was trapped a grass and brush fire and searchers found the body of a man who had been killed by a holt. Vernon Boyle, 37, of Martinez died of burns two hours after he was caught by flames while un reeling hose on a steep hillside. ' on ,i ounno. when WAS Trie last twb We SAW A PIRATE SHIP, EOOIB? Flying Television Station Keeps Eye On LA Traffic OPEN DAILY 7:00 P. M. ENDS TONIGHT w'ayni fWf3 3HTJ1 tRAZZt mchniHAMA hchn.coio Feature At 7:55 & 10:20 TOMORROW ,g!(ii:Mii;!.:.i:ii.'Mi..N:irMimtii f V;V MM MUtN 'A NcHm iSafj wuu ios root f mtunmtnuami - S'.-jWIIHItlUfl MMUCMUIllUw By VERNON SCOTT UPI Hollywood Correspondent HOLLYWOOD (UPI) The world's first flying television sta tion hovered over southern Call fornia today keeping an eye in the and traffic conditions of this sky on the news, special events sprawling community. Station KILA transmits from a "telecopier" unit employing miniature camera and transmitter aboard a Bell G-2 helicopter. n an area that includes moun tains, beaches, deserts and some five million people, the station has endless variety and backgrounds to choose from. KTLA's news manager, Gil Mar- tyn says, "We're just scratching the programming surface. The tel ecopier will be on hand in moun tain searches for lost children, ires, police matters, air crashes, highway closures, and boat res cues. The camera is equipped with f telescopic lens that cart fill a vid eo screen with the picture of an automobile taken from 1,000 feet in the air. During a special showing the telecopier and its two-man crew of pilot and cameraman circled Los Angeles City Hall, transmit ting a sharp picture to station monitors. According to vice presi dent Jim bchulke. the camera could have pulled in a picture ol the people inside working at their desks. The telecopier was conslructcd secretly in the fenced yard of cop ter-owner Dick Hart to keep com petitors from latching onto the idea. Some $40,000 was pumped into the project, not counting the heli copter itself which is worth an other $42,000. Weight was the pri mary problem. Two thousand nounds of equipment was reduced to less than 400 pounds in order to get the whirly bird off the ground. Wo used mostly aluminum and magnesium, says engineer John Silva. "We cut down on the chas sis, eliminated structural parts and we even went on a diet. Milk shakes were taboo. For every six pounds we cut down we could add another gallon of gasoline." Civic authorities foresee addi lional possibilities. Civil defense director Col. Rich ard Lynch said. We could use the telecopier to advise people away from the scene of a disas ter, clear our way to work, and still let the public see what's going on." Fire Chief William Miller com mented, "The telecopier could hover near a fire in an otherwise inaccessible spot and direct ground firefighters from a moni tor at headquarters." Whatever the results, southland viewers are assured of spectacu lar programming in the months to come. "Join Wad." t 7 07.10:30 "Cry Terroi t 8:30 Only t jam 1 POORS CPEN HIS PAS! CAUGHT UP WITH HIM! ...nCTB'Sx HE WAS THE 4 v j J x WAN f W U I I i ROBERT RICHARD TAYLOR WIDMARK CINEMASCOPE & METROCOLOR jwd JAKE WADE DATDIOIA Aturnr co-starrmp rHIHIIrt UVVLIMo -iKUbLK M UULt UN HLNRY : ffilF&J2Mll MASON 5r ROD STEIGER INGER STEVENS Rotary Chief Slates Visit Leslie A. While, governor of Dis trict 511 of Rotary International, will visit the Klamath Falls Ro tary Club Thursday and Friday, July 31 and August. 1, it was an nounced by Adolph (Dukei Zam- sky, club president. He will conduct a club assembly for all officers, committee chair men and new members following a dinner meeting Thursday at 6:;)0 at the Winema Hotel. Gov. White will address the dub membership at the regular Rotary meeting Fri day noon at the Wiilard. Rotary Anns will hold a lunch eon lor Mrs. White rnday noon it the Yacht Club, under the di rection of Mrs. Zamsky. White is owner of the While In surance Agency in Albany, for much of his life he was superin tendent of public schools, retiring after 25 years in charge of schools1 in Minot, North Dakota. He is a past president of both the Albany and the Minot rotary clubs. He is one of 2,i8 district gover nors supervising the activities of more than 0.800 clubs which have a membership of 4S2.500 business and professional executives in 110 countries and geographical regions throughout the world. Possible Hike Of Margin Requirements Predicted NEW YORK. 'LTD Wall Street is beginning to talk and write about the prospect of an in crease in margin requirements. Nobody is frightened over the talk and possibly none would be frightened into selling if the Fed eral Reserve Board did move the margins up. The reason for that is that the markets in the past just haven't gone down when margins were boosted. The current margin rate is 50 per cent which means one can borrow only half of the price of a stock and must put up .it least half in cash on a purchase or short sale. That 50 per cent is the lowest margins have been since Nov. 1. 1937 when they were cut to 40 per. cent from 5a per cent, the first margin fixed by the FED. They have been 50 per cent on several occasions. International Statistical Bureau its business and investment service says the Federal Reserve win certainly move rapiaiy to prevent excessive speculation. An early increase in margins on stock prices would not be surprising." The brokerage house of Reyn olds it Co., noting that the recov ery in business is not yet suffi ciently robust to warrant any change in the FLD s easy money policy, says the stock market is a different matter. Heart Shot Kills Youth Uni TUCSO.V. Ariz. (AP) A versity of Arizona baseball player was shot to death and two other university athletes were wounded last night in a fight with three other youths. hilled was James L. McConnell, 20. second baseman on the Ari zona team that played recently in the College World Series at Oma ha. Neb. Wounded were Lionel Romero, a pitcher, and Michael I. onto, a member of the univer sity's 1057 freshman baseball team. Held tnr investigation were Roger Mobray, 17, a track star it Calalina High School in Tuc son; his brother Ray, 25, a Tucson bakery employe: and Reginald Smith, 20, a cousin of the Mobray oromers. no cnarges have been filed. Police Sgt. George Robles said (he Mobray brothers gave this account: They were riding with Smith when another car forced them to the curb. The three university atnietes lumped out and chal lenged them to a fight. ine Monrays and their cousin refused. They brandished a rifle and a pistol to scare their assail ants off. But the olher youths opened the car door and attacked them. The shots were fired during the ensu ing scuffle. McConnell was killed by a shot through the heart. Romero was shot in the mouth and Longo in the chin. Both were reported in fair condition at Tuc son Medical Center. Smith was treated at the center for head in juries. None of the trio held admitted firing the fatal shot. Police were checking lo learn why they had the weapons in the car and why they were attacked. iif M 9349 SIZES ' 10-18 Air Industries Report Issued WASHINGTON (AP)-The Air craft Industries Assn. said today the Defense Department has an inventory aircraft, missiles, ships, tanks and thousands of oth er items worth more than 100 bil lion dollars. And the department spends about seven billions a year some 20 millions a day merely on maintenance operations. The industry organization re ported that 800.000 military and civilian employes of the Defense Department are involved in main tenance work. "One out of each seven men in uniform and one out of each five civilians is a maintenance techni cian," it added. "And the first sign of displeas ure at its rate of advance will probably manifest itself in a hike in margin requirements." When margins were raised from 40 to 50 per cent on Feb. 5, 1945, the Dow-Jones industrial averaee siooa at 155.35. The market kept on going up and on July 5 with the industrials at 1M.2B. the FED gave the margin another boost tnis time to la per cent. But the rise continued. On Jan. 21, 1346, with the in dustrial average at 196.62, the FED boosted margins to 100 per cent which meant no margins at all. And the market went merrily on its way up until it hit 212.50 on May 30, 1946. Then .it turned down. On Jan. 17,. 1951 margins were raised from 50 per cent to 75 per cent. The average which stood at 248.01 on Jan. 17, 1951, rose stead ily for several months. The FED raised margins on January 5, 1955 from 50 per cent lo 60 per cent. On that day the Dow-Jones average was at 397.24. On April 25, 1955 when the aver age had risen to 426.86 the FED raised margins again, this time to 70 per cent and the prices con tinued upward until the all-time high was set at 521.05 on April 6, 1956. And the reverse is true too. Prices do not always rise when margins are reduced, but event ually tne rise gets under way. The margins were cut on last Jan. 16 when the industrials were at 445.23. The market continued to decline until the average touched 4.16.89 on Feb. 25. It has been ris ing ever since. Not all of the market men feel that a margin rise is even close. They point out that there is plenty of money seeking employ ment in the banks at the present time and that the Federal Re serve isn't apt lo get upset over the market until there is a bigger demand for money from other than market sources. There is just this much ahout the whole thing that squelches rumors: The Federal Reserve never tells in advance what it is going to do. x TIZZY By Kate Osann sags if D ft. "There was much too much of her and not nearly enough of him!" Credit Group's Loans Reported Farmer and rancher owners of the Klamath Production Credit As sociation used $3,029,786.51 of short and intermediate-term credit from their association during the first six months of 1958. Don W. Kridcr, secretary-treas urer of the association, reports that this loan volume represents an in crease of $602,656.89 over the cor responding period a year ago. A good percentage of this volume was new money, he said, and much of it found its way into the busi ness communities of Klamath, Lake. Siskiyou and Modoc coun ties through the purchase of seed feed, fertilizers, equipment, live stock, building improvements and other items connected with farm and ranch operations. Owned and operated by its mem ber-borrowers, the association has extended $77,117,855 in credit since its organization in 1934. It now has $269,780.00 in member- owned capital and $436,080.51 in accumulated earnings. Don W. Knder said the Klamath association and 20 other associa tions in Idaho, Montana. Oregon nd Washington are making good progress in their program to buy out Uncle Sam's investment in the capital stock of the Federal In termediate Credit Bank of Spokane, the institution through which the associations obtain their loan funds. The local association now has $36.- in F1CB stock and the 30 associations own a total of $1,042,740. THIS MIGHT HURT TAMPA, Fla. tUPD - Peace Justice Marion Hendry has called for a return to the woodshed to help comhat juvenile delinquency. When I was a boy, my father s juvenile court was in the wood shed." he said. RACK TO THE FARM MOSCOW iUPI The Moscow City Soviet Tuesday banned cows and chickens from within the city limits for "sanitary reasons." BOB ROSS TV Same Phone Number TU 2-3479 New Location 3005 SHASTA WAY Guaranteed Service on oil mokes Doy or Night! Phone TU 2-3479 Debt Increase Will Shrink . Purchase Power Of Dollar By LYLE C. WILSON United Press International WASHINGTON (UPI) Presi dent Eisenhower's request for a 10 billion dollar hike in the per manent national debt limit means the dollar bill or sawbuck in your bank or in your pocket is going lo shrink some more. The weight and dimensions of your dimes and lolding money will not shrink. But their pur chasing power will in terms of beans or biscuits or butter, or in terms of anything you may buy. In terms of what this shrinkage docs to the individual and collec tive funds of the people of the I'nited States, this is larceny on scale greater than grand. All the footpads and burglars of all time surely could not have made away wilh as much of the citi zens' money as the process of cur rency inflation has accomplished in a single year the year 1942, for example. That was a big year in the cy cle of currency inflation. The Fi nance Committee of the U. S. Senate calculates that the dollar shrank in purchasing power in 1942 by 9.1 cents. The year 1947 showed a nine-cent shrinkage. Only 4.4 cents wero melted away from the value of the U.S. dollar in 1948 and only half a cent each of the following years. according to the committee's cal culations. In very recent years the inflation trend has been substan tially checked but not stopped. During the first four months of this year the depreciation of the dollar averaged only 0.2 cents per month. The big, bad fact, however, is that the Senate committee fig- ires snow mat trom an arbitrary valuation of 100 cents in (he year 1939, the dollar had shrunk in pur chasing power by the end of April, 1958, to 48.1 cents. In just under 20 years, there fore, the value of the proud prod uct of the U.S. Bureau of Engrav ing and Printing has gone off by nearly 52 cents, a bit more than half. A $10 bill now in circulation is worth slightly less than $5 in terms of 1939. Where all of this will end, none can say; especially none of the politicians in Washington who bor row and spend the money which puts the government in more debt and requires raising the debt lim it in bites of 10 billion dollars a whack. Mother's Truck Injures Son, 7 KANSAS CITY CAP) - Mrs. James Kepler was backing a pick up truck out of the driveway with her 7-year-old son Jimmy and daughters Julie, 11, and Vickie, 8, the back when she heard the girls yelling. Jimmy had fallen out. The truck had backed over his legs and he was pinnd beneath the wheels. Mrs. Kepler jumped back in the truck and backed a little farther to free Jimmy. i Bell's Hardware Martin Senour 3000 Outside White Paint "OUR VERY BEST" 49 4 gal. HARDWARE 528 Main Favorite of so many for so-o-o long! COOI., COM, CIRVKS Look slim as your shadow in this narrow sheath that's cool (or day. dramatic lor dancing. Whip of sein with our Printed Pattern. Very elegant in cotton, shantung, or linen. 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