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."
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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
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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