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
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JOHN GAVIN ULOPULVER
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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
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Feature At 7:55 & 10:20
TOMORROW
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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."
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TAYLOR WIDMARK
CINEMASCOPE & METROCOLOR
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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
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