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About Herald and news. (Klamath Falls, Or.) 1942-current | View Entire Issue (June 1, 1959)
MONDAY, Jt'N'E 1. 1939 PAGE EIGHT HERALD AND NEWS. KLAMATH FALLS. OREGON . 1 i.i...hl.i.i 1 ,. 1, iwtyrt'- - x . "'""TLr'T?? May Could Be Marked 'Best Business Month' CONTRACT WAS SIGNED last inventory of Piggly Wiggly Store, 701 Pine, and lease with option to buy the real property. Seller was Piggly Wiggly Northern Corporation, represented by George Marltoff, grocery supervisor, and Ron Carbery, meat supervisor. Shown, from left ere Bob Wright, real state salesman with Bruce Owens Realty, who handled details; Markoff; Warren Mason, who remains as store manager; Bruce Owens, realtor, and Carbery. No purchase price was Announced. Farm Income Holds Steady, Survey Shows WASHINGTON (API Prices affecting farmers' income are holding fairly steady. Ad Agriculture Depart ment price survey showed Knday that prices received by farmers increased four-tenths of one per cent between mid-April and mtd- May. But they were four per cent below levels of a year earlier, and 22 per cent below the record high set in 1951. Prices paid by farmers, includ Ing taxes and interest, held un changed at a record high during this period. They were one per cent higher than a year earlier Most farm product prices changed little in May. Potatoes oranges, melons and cattle went up. There was a seasonal decline in milk prices, and a sharp re duction for eggs, tomatoes and onions. Farm prices held unchanged in May at 82 per cent of the parity price goal of federal farm pro grams, iney were at 87 per cent of parity a year earlier. Parity is the level considered fair to the farmer in relation to prices he . pays for what he buys. Only five important products were at parity or higher. They ' were potatoes, limes, oranges. beef cattle and calves. Chi( kens were the lowest, being at 57 per cent of parity. Prices paid by farmers for need and replacement cattle did not change in May, but prices paid for baby chicks went down. Live stock feed prices eased off a little. Prices of food and building ma terials went up slightly. Young Thief Meets Death CEDAR KEY. Fla. (APl-The little fishing community of Cedar Key is a poor place for a holdup Huey Long Cannon, 24, nf Dade City, wound up dead on the bot tom of a lagoon Saturday nigh! after he: 1. Set up drinks In a local saloon with proceeds of a MS holdup else where; 2. Robbed Mrs. Leone Brown ot $100 at gunpoint'ln her drugstore; 3. Drove his car at HO m.p.h. in an effort to shake off pursuit by City Marshal Sam Pcrryman on the only road to the mainland: 4. Hit a power pole and cata- f lulled down a 12-foot embankment nto the water. The Marshal said Cannon had rnhhed a theater at Chicfland, 3ti miles away. REDS DOWN PLANE TOKYO I API The Chinese Communist army's air force shot down a Nationalist Chinese bomb er Friday near Yanping. Kwang tung province. South China. Pci ping radio reported Saturday. thru June 14 f 0 V"' ' - .'!j, Dorothy X COLLINS (z IXTM ADDED ATTRACTION ji Myron 1 o COHEN L, TILL! LOANw(r-:jv f u ' ' Will Oabomt i j- ' i weak by Ron Phair, eatd, House Judiciary Group Has Bill To Clarify Bills Bv B. L. LIVINGSTONE WASHINGTON (API Congress. as some of its members and oth ers have suspected, may not al ways know what it's doing. What amounts to at least a par tial confession of congressional fallibility on this score, has come from the House Judiciary Commit tee. It is a bill to make other bills say what they mean, or anyway to let congressmen know what they are reading. "I'm surprised someone hasn't done something about this betorc now," observed Chairman Eman uel Celler (D-NYi. Bills are the raw material of the nation's laws. Sometimes, however, they can be pretty cryptic. For instance, H.R. 4.145 says in its entirety: "An act to repeal clause 9 of subdivision A of section 39 of the Bankruptcy Act ill U.S.C. 76a illi ), respecting the transmission of papers by the referee to the clerk of the court. "Be it enacted by the Senate and House of Ilcpresentatives of the United States of America in Congress assembled, that clause ii of subdivision A of section 3'i of the Bankruptcy Act 111 U.S.C Belgium King Flying Home WILMINGTON. Del. (API-Belgium's King Baudouin. impressed "by the great heart and friendli ness nf the American people." flew home today, his three-week tour of the United States behind him. The slender, bespectacled King, at 29 still a bachelor, said he was sorry to go. He wrung the hand of everyone within reach, thanking all for "the grcatvisit." During the trip he dined with President Eisenhower, addressed Congress and danced with movie actress Debbie Reynolds. He said in a prepared departure statement: "I shall always re member my visit to your country with warmth and attcclion." Informally, sometimes in French but mostly in English, he told his well-wishers he had a wonderful time and wished he could stay even longer. "But I have a job to do in my own country," he said. His last weekend was marred by death. Saturday night, aboard the aircraft carrier Randolph' off the Virginia coast, he saw a Navy plane crash into the sea. Three airmen were killed. Upset and saddened. Baudouin was taken by helicopter from the Randolph's deck and brought Sun day morning to the colonial capi tal of Williamsburg. Va. From Williamsburg: the young King flew to Wilmington. He toured sites of the original Du Pont powder and chemical mills along historic Brandywine Creek. , 111 win 1 mam covering purchase 67A '9 , as amended. Is hereby repealed and clause UOI of such subdivision is renumbered 191. This means referees in bank ruptcy would not have to trans- mit "forthwith" to court clerks various bonds and documents their possession. What Celler and his committee want to do is to change House rules to require that bills revising existing law also carry the word ing of existing law, and by italics or other typographical devices show what the amendments actu ally would do. Celler confesses he doesn't know what is in most bills that come to his committee by the thousands each session. "I have to have somebedy dig out the code (U.S. Codilication of Laws) to lind out what they refer to. and then tell me." he said. The House years ago adopted what is known as the Ramseyer rule. This requires that existing changes in law be spelled out in committee reports on bills. But no one until now has thought to apply the rule to hills. of th. Children Become Soldiers In Psychological Warfare MACAO (AP) Children barely old enough to read but not too young to shout and sing are the soldiers in a psychological war between communism and democ racy in this tiny Portuguese colony in the shadow of Red China. A former colonel in the Chinese Nationalist army says democracy, after a slow start, is winning the noisy little war hands down. Ignatius Wong is principal ol the Santa Teresa kindergarten and primary school run by a Roman Catholic mission here. Across the fence from Santa Teresa is the Communist-run "Green Island Free School," one if several Red schools allowed to operate in Macao. The Communists started trying to infiltrate Santa Teresa with junior grade agents, printed propaganda literature and a loud speaker campaign of nnti-Aiueri- can and anti-Nationalist propa ganda. The Red aim was two-fold to undermine the Catholic school authorities and to woo their char ges over to the Communist school. Santa Teresa si nick back, li weeded out the infiltrators. Pluck ing a pace from the Communists' book. Wong, set up a puhlic ad dress system of his own. booming anti-Communist propaganda back across the fence. 'They call us American dogs." Something New! BOEfJS HUMES 25c More For Your Money First Location in Klamath Falls NOW OPEN 10 a.m. to 11:30 p.m. AT THE CORNER STORE 7th & Main Down Town "Hove Socks . t . Will Travel" "Bonus Burqert" it a unit of Little Restaurant,, Inc., a corporation formed bv local business men, Wm. P. Mills and C. O. Carlsfrom, whose purpot. is to ttobliih a chain ot Bonus Burqtr Shops throughout Oregon. A prospectus may b. had at our central office . . , Suit 217 Stewart Drew Bldq., 731 Main St. Klamath Falls. NEW YORK (APi Boom forces spurred the economy to new highs last week. ' No matter how you looked at it. you couldn t escape the conclusion that May would go down in the books as the biggest business month on record. Consumer appetite for cars clothes, food, houses and corpo rate stocks showed no sign ot let- in2 up. Construction activity scored bigger than seasonal gains; business failures toucned a new 1959 low; industrial produc tion continued its headlong race to heat a June 30 sleet strike deadline. . Machine tool orders racked up a massive increase over me re cession lows of last year a sigi that heavy industry has decided it s time to start spending again With business booming all around, the Federal Reserve Board made a new move to tignt- the screws on credit. The board flashed an okay to five of the nation's twelve Federal Re serve banks to lift their discount rates the interest they charge on loans to commercial banks. Commercial banks had been borrowing at 3 per cent, and loan ing the money out to their cus tomers at interest scaled upward from 4'2 per cent the minimum prime" rate charged the big gest borrowers with the best cred it ratings. Now they'll have to pay the reserve banks 3' per cent the same as in late Wj7 belore the recession took over. One effect of the higher dis count rate will be to curb the fast growth oi the nation's money supply, already swollen by rising demand for consumer and mort gage credit. Its avowed purpose is to check the cr?eping rise in prices and costs that even in these prosper ous times has strained family budgets. . Stock sales totaled 14.872.535 shares compared with 15.969.910 the preceeding week. The volume was the smallest since the week ended Feb. 14 when 14,792.690 shares were traded. Bond sales in the latest week had a par value of $26,373,100 against $26,099,000 the previous week and $20,771.50(1 for the corresponding HIM week Costs particularly wage costs were uppermost in the minds of steel industry leaders gathered litre for the 67th convention of the American Iron & Steel Institute this week. Consensus of steel's big men: The industry must form a united front against the wage Wong said recently with a cheer fill grin. "We call them Soviet dogs. You should hear the din Children from each school join in rousing political songs which Pthe loudspeakers blare back and forth across the fence. Each side has accumulated an imposing list of political slogans to bellow at erch other. It's easy to keep score on who is winning. At the start each school had a few hundred students. The Com munists made some initial gain. but once Santa Teresa s loud speaker system got going the tide turned. Enrollment in the Catho lic school gained steadily. The score today: 1.053 students at Santa Teresa, about 400 at the Communist school. AIM BETTER LOS ANGELES AP Eight weeks ago. George Hinton Jr.. 24 hot himself in the knee while practicing fast draws with a .22 caliber target pistol Sunday, still practicing, he sno! himself in the foot. O People Read SPOT ADS - you are increases sought by David J. Mc Donald s United Steelworkers Un ion. As steel wage negotiations re cessed until alter Memorial Day. both sides seemed farther apart than ever. The union stuck to its contention that high profits should enable the steel companies to raise wages without hiking prices. Management continued to insist that a wage boost now would be inflationary. Chances of an early settlement were fading fast. Steel s biggest customer, the auto industry, throttled down its production this week after turn ing out 1959 models at a rate that promised to put an inventory oi one million new cars in dealers' hands by June. The construction industry made news this week, and just aoout all of it was good. F. W. Dodge Corp- reported that contracts awarded last month for future construction soared to more than 3't billion dollars highest for any April and up 31 per cent from a year ago. - Residential contracts were up 48 per cent. Significantly, con tracts awarded for new schools and new factories moved ahead. apparently ending a slump? School construction hit the skids some months ago after homeowners re belled against fast-climbing prop erty taxes: factory construction has been- in the doldrums (or a year. Briefly over the business scene: Annual stockholder meetings were on the optimistic side last week . . . President M. J. Rathbone told Standard Oil Co. (N.J.) stock holders that earnings for the first four months of r-.iS9 were up 20 per cent from a year ago.. Gen Edmond Leavey, outgoing presi dent of International Telephone & Telegraph Corp., forecast record profits this year. ... A record at tendance of 6.000 is expected when the fifth World Petroleum Con gress opens at the New York Coli seum Monday. . . . The stock mar ket, as measured by the Associat ed Press 60-stock average, fin ished the week at a new high . . . Red ink department: the total debts of all people, businesses and government bodies in the United States climbed last year to a rec ord high of 770 billion dollars. . . . You'll pay two to four cents more lor electric light bulbs this sum mer. Prices go up in July. . . . Tole do 4 Fixture Co. has a new cus-j tomer Sheik Fahad Al Salim All Sabath. ruler of oil-rich Kuwait on the Persian Gulf. The sheik hasj placed an order -for 72 steel cab-i inets. He's having the palace 1 kitchen modernized. I Don't Miss the Local News or your favorite Herald and News Features, Comics and Articles! TAKE ADVANTAGE of the H&N VACATION PACK A FREE Herald & News Service! Call the Herald and News Circulation Department4-8111 1 and tell us . . . i. 2 "Hove our paper forwarded to our vacation address while we're there." "Have our papers saved while we're gone and delivered en our return in yeuf neat' Vacation Pack." 'Don't forget! tra charge for .t THE STAFF of the Lalt.vi.w luncheon .1 Van', re, James Dieekney, adviser, ana k. . soi tor ........ ... r - -, , , .J;rt Jam., Bennett wer. guest,. From th. left, front row. are Charlca Lti. M.or .ditor, Virginia Brown, Marg.ry Blair. Ch.rl.s Co.s.y, David Griffin sport, . nd I n.w. .ALr- Moll Fl.trh.r. Rab.rta Bleaknev and Jame, Bl.akney. Second row. Joy tor; Molly Fl.tch.r, manager. Rob.rU Bleakn.y and Jam., Bl.akney. 5.cond row joy rr. assistant manager; Virginia Mobley, senior statistic,; Frances St.wart, M a r y Jo .ly. R. C. Row., LaVonn. Kr.tx, .ditor; and H. B. F.rrin, j Kerr, De Five Federal Reserve Banks Increase Discount Rates WASHINGTON (AP)-The Fed eral Reserve Board Friday used its tight-money club against a re newed threat of inflation. With the board's approval, five Federal Reserve banks increased their discount rate from 3 to V-t per cent. This is the interest charge to member banks borrow ing from the reserve system. The five are the New York, Chi cago, St. Louis, Minneapolis and Dallas banks. The other seven Federal Reserve banks are ex pected to push their rate up to the same figure in the next sev eral days. The action had been expected in view of a general rise of interest rates throughout the private econ omy. And there have been hints that consumer prices after 11 months of unprecedented stability may advance to new highs in the next few months. In New York, the discount boost came as no surprise to Wall Street, which has been expecting the move since major private banks increased a key interest rate two weeks ago. A spokesman, in announcing the new discount rate Thursday, said only that it was "an adjustment to economic and financial condi tions." The Federal Reserve rate was just 13 per cent only a year ago. A series of increases followed. In March it was raised from 2'i to 3 per cent. Raising the discount rate Is in OSBORN HOTEL EUGENE, ORE. Mrs. t. ft. Efti-lr Joe Early Jr. Proprietors Thoroughly Modern Call ahead of time and give us your instructions. this service. Thank You. ' YOUR CARRIER Telephone High School yearbook, th. Sag. recently. Tokens tended to curb expansion of credit buying by making it more expen sive to borrow money. Adminis-' tration officials frequently have voiced fear that recovery from the 1957-58 recession might blos som into another inflationary boom unless the government uses all its powers to restrain the sup ply of money and credit. Inflation means that money, when it is easier to come by. de clines in value. Likewise, accord ing to classic economic theory, in flation alwavs is accompanied by rising prices. The government's cost-of-living index rose two-tenths of a point this month to 123 9 per cent com pared to the 1947-49 average. This PUBLIC DISCUSSION BETWEEN: W. L. Rodger,, Minister Penticostol Church of God, and James H. Campbell, Minister Church of Christ. SUBJECT: "PRESENT DAY MIRACLES" JUNE 2, 3. 4. 5 8:00 P.M. P.S.T. Church of Christ Building 2205 WANTLAND PUBLIC CORDIALLY INVITED TU 4-8111 Brush tcno, y"J Mrs! matched the all-time pes reached last July and again in ivovemper. Enjoy Hi Thrill and ContentrMnt of . N.w PIANO or ORGAN IN YOUR HOME - For Years of Pleasure Coma in Soon. Easy Budget Terms. LOUIS R. MANN PIANO COMPANY 127 N. 7rh TU 4-7182 There is no ex r
