The Baytown Sun (Baytown, Tex.), Vol. 43, No. 264, Ed. 1 Monday, July 30, 1962 Page: 4 of 10
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IVIVMMU11 ®Vt I / W4
MM
Dollar Given
Reassurance
The rumor-buffeted U.S. dollar got a top-level re-
assuring pat on the back during the past week that
was heard and seen around the world.
President Kennedy, speaking in a news conference
televised live to Europe via Telstar satellite, pledged
that the dollar will not be devaluated.
“Those who speculate against the dollar are going
to lose,” he said.
The reaction was quick. *The speculators who had
bet on rumors that the dollar would be devaluated
rushed to sell their goldmining shares. Prices of
shares tumbled on New York, London and Johannes-
burg exchanges.
The price of actual gold declined on the London
bullion market.
There was a general strengthening of the dollar
•gainst major European currencies in foreign ex-
change markets here and abroad.
The dollar was in the news on another front
Americans learned that in June it wouldn’t go as
far in covering the cost of living as it did in May.
Mainly'"because of higher food prices, the Labor
Department’s consumers price index advanced one-
tenth of one per cent to a record 105.3 per cent of
the 1957-59 base period. t '
The index has increased eight-tenths of one pel
cent this year, rising to new records, in foiff "of the
six months.
The possibility of an income tax cut remained up
in the air with Kennedy saying he wanted to see
the July economic statistics before making a de-
cision* on whether to request Congress to approve a
quick reduction to bolster business. '
The House Ways and Means Committee began
closed-door hearings on the status of the economy
and the tax question waa expected to be a major
subject
The stock market moving Within a moderate trad-
ing range, waa considered by some brokers to be
marking time pending a decision on the tax matter.
Stocks sold during the week totaled 13,914,661
shares, down from the 15,962,490 of the previous
week and 17,360,360 for the comparable week of last
year. Bond sales totaled $20,450,000 par value, a drop
from the $24,676,000 of the previous week and $36,-
060,000 for the comparable 1961 week.
A development regarded as indicating rising confi-
dence in the market was the excellent reception
given a 1,589,680-share secondary offering of General
Motors Corp. common stock at $49.62 a share. -
The F. W. Dodge Corp., a statistical organization,
reported the 'pace of new construction in the first
five months of this year was “nothing short of phe-
nominal” although “the economy has shown less verve
than expected.”
Total awards through May amounted to a record
$17.2. billion, a gain of 17 per cent from last year.
• Another economic indicator—new orders for metal-
cutting type machine tools—wasn’t favorable. The
total for June was $49.35 million compared with
$51.65 million in May and $52 million in Jane 1961.
The Chase Manhattan Bank of New York, the
APfcNOW ABIE
fTpfc*)tA FLY IN
' #5pR?SPACeiAliTH
ANTI-MISSILE
Missile. — i"
Washington Report:
Business Analysis - - -
nation’s second largest, reported that business indi-
!• cators appear to be acting “very much as they usually
do six months or so in advance of i business turn-
.......down." ...... ’ •
In the railroad industry, operating unions sued to
. prevent the carriers from changing wtfrk rules Aug.
’ * * * 16 and threatened to strike unless" the plans are
-called off. The railroads. have announced their in-
tention to enforce economy changes in operating
practices recommended by a presidential commission.
Generally good six-month corporate earnings re-
ports brightened the business picture. This was par-
ticularly true in the booming automobile industry,
where General Motors announced substantial profit
Increases over a year earlier. *
Automobile production slipped during the week to
an estimated 137,000 passenger cars from 148,475
the previous week as Chrysler and American Motors
completed. 1962 model year production. New car sales
in the middle 10 days of July totaled 175,149, down
from 177,368 a year ago. It was the first decline this
• y«r. 7"' ftJ—ftft
—' Steel outputjincreased during the .week but steel
companies didn’t expect any major iain"to develop
before next month. The total of 1,398,000 tons wax
two per emit above the previous week. ;
Brownwood PaperMakes Changes
BROWNWOOD (AP)—Three de- viously worked on papers at Com-
partmental changes lor TMt merce and Jacksonville and is
Brownwood Bulletin, published University of Texas graduate,
daily in this Central Texas city, Bor Hardin stepped up from
have been announced by Craig classified advertising manager to
Woodson, publisher. display advertising manager to
Ronald Gray, display adverbs- succeed Gray. He has been with
tag manager since 1958 and em- the paper since 1958 and is a
ploye of the newspaper since 1938, graduate of Howard Payne Ool-
was appointed assistant publisher lege. ^
----------~ Brownwood: ' ft- _ ____________
Publications, Inc., Bulletin pub- . >. .. .
Old You Know?;
Bulletin since June 1969,•'^as 4 »
named managing edit* to sue- Eggs stored at room tempera-
ceed Doo Cwedge wto became ture will lose as much quality in
£ KWaxa’ ‘fav* as those kept two
hactae Daily Light Gage has pre- weeks under refrigeration.
By 8AM DAWSON
NEW YORK AP)-So complex
apd interlocked has become the
American and world economies
that if you step on John’s toes to-
day, it may be Bill who yells-or
maybe Pierre or Hans.
Much of the world peers over
Uncle Sam’s shoulder as he.fties
to decide what to do abouHaxes,
interest rates, Treasury deficits,
inflation, .American gold reserves,
tariff and other relations vvlth the
Common Market, and even Ameri-
can wage-scales, prices and prof-
Here are the latest figures on
how various money. matters stand.
as the big policy debate builds up ;
steam:
The U.S. Treasury collected
$81.4 billion, mostly in taxes on
corporation and individual in-
comes in the fiseal year ended
June 30. This was an increase of
$3,7 billion from the previous fis-
cal year. Collections go up arid
down as business prospers or lan-
guishes, as personetl incomes wax
or wane. Even the increased col-
lections this year weren’t enough
to meet expenditures of $87.7 bit ”
lion. ,
The problem at midyear: Should
a slow moving economy be perked
-up by tax cuts for business and
individuals, even if this threatens
Jtebabilifation
Replaces Dole
WASHINGTON (AP) - A bill
shifting the emphasis of the na-
tion’s welfare program for the
needy from the dole to rehabilita-
tion has been signed into law by
President Kennedy. __
The President said in a state-
ment today that the bill he signed
Wednesday night makes possible
the most far-reaching revision of
the public welfare program since ,
it was enacted in 1935.
Kennedy said the new law en-
courages the establishment of: ~~
Expanded s stabilitaiion of the
needy, increase seM to chH-.
dnggand day-care senrieeg tochil-
dr§ln of working mothers, estab-
lish useful woritand training proj-
ects, guard against misuse of wel-
fare funds for dependent children,
and improve welfare administra-
tion. • '
a greater Treasury deficit than
the $6.3 billion in the fiscal year
just ended? “***“. :
The size of the deficit, and how
it is financed, can affect interest
rates for short-term or long-term
loans, and thus the flow of invest-
ment money to foreign shores and
the amount of the gold reserves.
Increased sales of U.S. securities
tend to sop up some of the supply
df investment money and to raise
interest rates. ;
Rates paid to savers have risen
this year. Lenders might like- to
raise charges to borrowers, tad at
hadn’t risen enough to sustain
higher interest charges. Highe£Sfe7
■4ercst would affect business bor-
rowers, instalment plan borrowers,
state and community projects, ;
home buyers. i,- ....
The Washington money manag-
ers have been trying to keep short-
term rates high enough to discour-
age the flow of investment money
to foreign shores, but long-term
rates low enough to encourage
growth of the domestic economy,
b ill’s a neat trick and the tax cut
and greater deficit prospects won’t
help.
Although American exports cov-
er imports with dollars-to spare,
they don’t make up for the other _
outflow for foreign aid, "military
spending overseas, private invest-
ment abroad, and travel soending.
. ; For four years the-resulting def-
icit in our balance of payments
averaged $3.4 billion a year, and
the gold outflow that resulted av-
eraged $1.4 billion a year. But by
midi-1962 the deficit prospect had
been cut to little more than a bil-
lion for the year, and the gold loss
so far this year to $529 million.
The health of the U.S. economy
. as a whole is involved because it,
like the size of the Treasury defi-
cit, affects foreign thinking about
tite future value of the dollar. The
specific question is whether to..
hold onto their dollar reserves or
turn them in for U.S. gold.
Try and Stop Me
ly BENNETT CERF
fno THE SURPRISE of everybody at a recent stupendous,
all-star benefit performance, the hit of the evening was
scored by a miniature talking poodle who brought down the
house with a series of su-
perb imitations and
snappy new jokes. While
the applause of the audi-
ence was at its height,
however, a large dog shot
out of the wings, grabbed,
the triumphant poodle by
the scruff of the neck and
pulled him off the stage.
“Sorry, folks,” yelled
the poodle as he disap-
peared into the wings.
“It’s my mother. She al-
ways wanted me to be a
doCtOE^^l^,^^ .....
—* • • -
A noble experiment of Fat Callahan, own® of a midtowa
saloon, has ended in failure. Pat hired a full-blooded Indian to
serve as assistant bartend®, but had to let him go at the end of
a fortnight He couldn’t be broken of a habit of charging $24.00
for a Manhattan. ■ ' >
©Ip Smjtmmt £rot
; - Published afternoons, Monday through Friday,
and Sundays by The Baytown Sun, Inc.
at Pearca and Ashbel in Baytown; Texas.
TODAY'S GRATIS
By NAN JONES
Central Press Wrlftr
THE ANSWER, QUICK!
1 If you vacation In a littoral
region, are you in the moun-
tains, by the shore or in a cos-
mopolitan metropolis? 7 v-
X What is The Granary to
Boston? :
8. Can you name the 18 Paul*
toe Epistles?
4. What Is Brazil's most popu-
lous citv?
& What l> the Grand Saak?
mimiMD
' Good order it the foundation
of att good fMwfli JftfmtHMf
Burke. .....—, , . ;
Editor and Publish®
• see
• EEtMHtMl
■Managing Editor
. Office Mana
Fred Hartman
Preaton Penderi
Beulah Mae T— *»*,«.*... t __________
James H. .......Assistant to Publisher
Robert K. Gilmore ......;.......... Circulation Director
- '' _ ADVERTISING DEPARTMENT
John Wadley...................................... .... Manager
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Entwed ® second class matter at the Bajtown, Texas, Post
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P. O. Box 108, Baytown, Texas.
Represented Nationally By
Tana Newspaper Representatives, Inc.
toe a—a»in Pns n
Or TOT ASSOCIATED POTSS
MOtM «cta*lv«ty to ttu bm for republication of
" ts It or not oUMrwtM created ta thl* paper
L*S? to*ww »««• <X npobUeaUos
mt tas Tnm laa
YOUR FUTURE
■A secret matt® resolla to
progress. Today’s child ,wiU need
training hi ambition.
WATCH YOUR LANGUAGE
INFEST— (in-FEST)—verb;
to overrun or haunt in a trou-
blesome manner; to be^ numer-
ous to, as anything troOUe-
■ome; to hanism to become
confirmed In evil or habitually
vicious. Origin: Latin.
, IT HAmN» TODAY
tmmtj years ago the WAVES
| \ ohm tote extotoapa ae Prestdent
F. a Roosevelt signed the US
establishing the mum’ll vofam-
TOUC OR FAME-OUESS THE NAMI scientist, graduating from
Waahtogtoh and Jefferson Col-
lege to his hometown with a
physlca major in 1942. Aft®
winning honors as % figfcler pt-
lot in World W® H he went to
worit as aphysicist with NASA’s
sredecesBor. / ::______
Last April he set a new alti-
tude record in the rocket-paw.
ered X-15, flying some 45 miles
up. He has authored technical
papers ranging from meter®,
logical analysis to aircraft star
UUty. Who is ho? ^
(Names at bottom of column)
HARPY BIRTHDAY
To Casey Stengel of New
York Yankee fame and now "
New York Met manager; Vladi-
mir Zworykin, physicist, and ~
basebaJPs Ons Triandos and Joe
Nucekatt. .....
By JACK ANDERSON
^ ■ WASHINGTON - On the eve of
his departure for Geneva, Secre-
tary of State Dean Rusk warned
a group of Senators on a Poto-
mac cruise that “we are in for
a critical 60 days.”
.... He'described the mounting ten-
sion over Berlin as a “game of
bluff” which could lead to a war
neither side wants.
Rusk was a grim host as he
discussed the Berlin crisis on the
fantail of the Presidential yacht,
Patrick J.
Straining to listen were Sen.
Engle of California, Kefauver of
Tennessee. McGee of Wyoming,
Moss of Utah, Sparkman of Ala-
bama, Young of Ohio, and Sal-
tonstall of Massachusetts (the only
Republican). —......
Rusk explained that most min-
or differences had been settled,
that the time had come to meet
the Kremlin’s demand for a with-
drawal of American, British and
French troops from Berlin.
"We have cleared away the un-
derbrush,” he declared, “and we
are now down to the root of the
mafter.” .
THE GREAT danger, as he saw
it, was that Premier Khrushchev
might underestimate American de-
termination to stay in Berlin. The
Soviet leader was uncertain about
American intentions and “migfrt
try to second - guess us,” Rusk
warned.
"We can never negotiate our
presence in Berlin,” he said firm-
ly. “The problem is to convince
Khrushchev wp mean it.”
Rusk made it clear that Khrush-
chev must back down from his
demand for a troop withdrawal or
--prepare tor war over Berlin.
On other subjects, Rusk felt-
the Laos settlement had given the
West at least ."a breathing spdl.”
He suggested that the food short-
age on the Chinese mainland
should restrain the Chinese Reds
from foreign adventures. But an
the other hand, he acknowledged
that it might also make them des-
perate and reckless.
He did not believe, however,
that the Communist military build-
up opposite Formosa is a serious
threat. ........ --........*
An analysis of Russian and
American nuclear tests, he also
disclosed, indicates that the Unit-
ed States still has superior nu-
clear strength.
NOTE — During less solemn
moments of the three-hour cruise,
the Democratic . Senators merrily
ribbed the only Republican on
board, Sen. Saltonstall. They ac-
cused him of coming to the wrong
party, of being a Republican spy.
When they got to speculating about
President Kennedy’s slip in popu-
larity, Saltonstall predicted un-
happily: ”It’s bound to go back
-'lipT’ -............. ,..... ........... _
FOR A QUAKER who believes in
Peace, Drew Pearson can cause
an awful commotion. He took off
for Europe last week amid thun-
derclaps from Capitol Hill and
echoing rumbles from across ths
country.
He was denounced in the Sen-
ate with bipartisan vengeance by
sad-eyed Sen. Jennings Randolph,
West Virginia Democrat, and
prim Sen. Winston Prduty, Ver-
mont Republican. Even Oregon’s
independent Sen. Wayne Morse,
his bristly brows arched like to
V'" agitated caterpillars, joined in the
sport.
Meanwhile, in toe cavernous
House chamber, the echoes had
hardly died from ringing, anti-
Pearson weeches by crusty Rep.
Clarence Cannon, Missouri Demo,
crat, and impassioned Rep. H.
Carl Andersen, Minnesota Republi-
cafl.
Between them, they called Drew
every colorful name in the politi-
cal lexicon. Yet their speeches
were lukewarm compared to soma
of the mail that comes in. - .
It is the fashion these days for
writers to be high - minded, to
shun controversy as if it were
something immoral. The radio-
•TV industry hires pollsters, sta-
tisticians, psychologists, sociolo-
gists, market researchers and-mo-
tivation researchers to make sure
1 broadcasts don’t offent the mass
. mind. > . --- .........
Drew has stubbornly resisted
this trend to make human cogs
of us in the great machiner- of
big gov^mment. big business, and
big labor. He has stood against
the stream, spoken up when oth-
ers remained silent.
Japans School
Children Are Fed
Red fropapdi
By FULTON LEWIS JR.
WASHINGTON — Three years
ago an angry Nikita Khrushchev
howled as Dwight Eisenhower pro-
claimed a Captive Nations Week
and threw the spotlight of public
indignation upon the enslaved mil-
' lions of Eastern Europe.
Under a Joint Resolution of July
17,1959, the President of the Unit-
ed States is authorized to desig-
nate the third week of July each
ye® as Captive Nations Week.
Thus did John Kennedy pro-
claim the week of July 15, 1962,
as Captive Nations Week. But
there was, this year, no outcry
from Nikita Khrushchev.
It is possible the Soviet boss did
not know of the President's proc-
lamation. Mr. Kennedy made no
public statement to indicate that
Captive Nations Week had been
announced. Late on the afternoon
of Friday, July 13, as the Presi-
dent made his way to Hyannis
Port, the White House released a
mimeographed copy of the proc-
lamation to what few newsmen
remained at 1600 Pennsylvania
Avenue. . |
The proclamation received vir-
tually no press coverage. It is just
as well, for John Kennedy's dec-
laration is a masterpiece of ap-
peasement. It would be difficult
to write a resolution on Captive
Naftittwihat' does not mention by
name the horrible imperialism of
Soviet Russia.
But John Kennedy’s does just
that. * , ■ -■ -•
The resolution1 reads:
“Whereas there exist many his-
torical and cultural ties between
. the people oL these captive na-
tions and toe American people;
and
“Whereas the principles at self-
* government and human freedom
are universal ideals and the com-
mon heritage of mankind:
..“How, therefore, I, John F. Ken-
nedy, President of the United
States, do hereby designate the
week beginning July 15, 1962, as
Captive Nations Week.”
The President’s proclamation
was drafted at the State Depart-
ment by officials who do not, ap-
parently, wish to “offend" toe So-
viet Union. They are the same
men who have persuaded Secre- ^
tary of Sttte Dean Rusk to op-
pose the creation of a Permanent
Congressional Committee of Cap-
tive Nations. Mr. Rusk wrote to
Congress:
“It would likely be a source of
contention and might be taken as
a pretext for action by the So:
viet Union which would interfere
with the resolution of the present
crisis concerning Berlin.”
TTiere were some in the State
Department who urged the Presi-
dent not to proclaim a Captive
Nations Week at all. Mr. Ken-
nedy did not, apparently wish to
disregard the Congressional Reso-
lution of 1959. So he did the next
best thing and issued a proclama-
tion without once mentioning So-
viet imperialism.
The Captive Nations declaration
' of Dwight Eisenhower is quite a
contrast:.'. .,..... .. : ■ ;
"Whereas many people through-
out the world have been made
captive by the imperialistic and
aggressive policies of Soviet Com-
munism; and
“Whereas, the peoples of the
Soviet - dominated nations have
been deprived of their national in-
dependence and their individual
liberties; and
“Whereas the citizens of ths
United States are linked by brads
of family and principle to those
-who love»freedom and justice on
every continent ...
“Now, therefore, I, Dwight Ei-
senhower, Presidents the United
States of America, do hereby des-
ignate the week beginning July 19,
1959 as Captive Nations Week.”
NOTE: Gov. Nelson Rockefeller
stole one up on President Ken-
nedy with his own proclamation
of Captive Nations -Week. The
New York Chief Executive made •
.. it crystal dear in bis declaration
’ who the .captors were:
- -’’Tho. roll of nations held cap-
tive by Commumstcotonialism is
One of appalling length and it is
disheartening to note that the
Reds are becoming ever more
firmly entrenched in Cuba.”
Bible Verse
FOR WHOSOEVER shall be
ashamed of me and of my words,
of him shall the Son of man be
ashariied, when he shall come in
his own glory, and in his Father’s, - »
Etna of Jhe. holy angels. Luke 9:26
-----' .. :
Daily Crossword Puzzle
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Know Your Bridge
——ly I. JAY EiCKtt-
1—Ths pilot who contributed
most to science laat year, ac-
cording to Institute of the Aero,
space Sciences, was this X-15
Idiot from the National Aero-
nautics and Space Admlnistn.
tion. Winn® of the Octave
Chanute Award, he has not only
piloted the X-15 to an altitude
of 39 mHes and a *peed ef
8,765 m.p.h., but has hdped de-
sign its control system.
The Ohio-born pilot studied
c®onautical .engineering at Pur*
due and flew 78 Navy combat
missions hr the Korean Wan
«n 1955 he Joined the NASA
program, wfaace be has flown
many research planes; and has
worked recently on the Dyna
Sow, (X-20) project Who is he?
2—Chief research pilot tor
NASA is this 41-yeareld native
of Washington, Pa. Like his
cohort, he was trained as el
TOKYO (AP)—The question be-
fore toe class was the,demand
that Russia return islands it
seized from Japan before World
War n. .
“Teach®,” the boy asked, “why
won’t the Soviet Union give the
northern islands back to Japan?”
“Because,” the teach® replied,
“die U.S;imperialists would build
rocket bases on them.” .
An expert who has watched
Japanese education closely cites
this classroom dialogue as an ex-
Xaat dealer.
Both sid* vulnerable.
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HOWD YOU MAKE OUH
1. By the shore,
2. An and^ burial ground;
among its occupants are Paul
Revere, Samuel Adana and
John Hancock,
1 Romans, I and n Corinthi-
ans, Galatians, Ephesians, Phi-
lippians, Colosslans, I and n
Thessalonians, X and IX Tim.
othy, Titus and Philemon.
4. Sao Paulo.
i & A submarine plateau off
Newfoundland, famous for its
fishing.
v
▼ D»M-I
presented to Japanese
ft. Thle pipeline, he says, runs
through members of the Japan
Teachers’ Union. This union often
shows more concern with the
“class war” and “American im-
perialism” than with teachers’
wages or hours.
The Japanese Education Minis-
try reports 3,000 to 5,000 union
teachers are known to be Com-
munist party members while thou-
sands more sympathize with Mos-
cow or Peiping. The union has
570,000 member*. V
U.S. officials,- Iar from sure
about Japan’s future course to in-
ternational affairs, dteubt conceal
worry about pro-Communist
teachers. On occasion some .qf-
these teachers have turned out
for anti-American demonstrations
—taking students with them.
The Education Ministry says It
is powerless to crush communist
elements within the union. It lacks
police powers due to fears of a
return to pre-war control of edu-
cation.
4AK8VCI
is
M f
kJU
n$ bidding:
Hast South West North
pass 1NT Pass 8 NT
Opinfaf lead -king of dubs.
declarer. Ha would go down tww
with normal play thereafter.
But if you don’t, South makes
the hand quite easily. All ha
do® to lead a diamond from
dummy at trick tour. When you
play the queen, he leta you hold
the trick. As a result, he winds
up with five diamond trick*
two spade* a heart and a clubs
A good case can he made tor
discarding the queen of dia-
monds. If declarer has ths
A-K-J, the queen to a valueless
card ta keep, if declarer is
missing one of these honors,
it means that West has the ace^
king, or Jack u) * possible entry
pose in
the notrump bid or North's
raise to three, but that’s not
the point of this story. The
play’s the thing to this hand,
ao let's get on with it.
West led the ktog of ebbs.
Declarer ducked sad Wait con-
toned with the queen, dummy
Playing low again. Another
club lead forced the ace and
East had to choose a discard.
the queen of diamonds, and if
J«i do to* nothing can save
- " ft ■ f
no useful pure
hand. ' ;
. when the hand waa
played, East failed to apprecl-
Too don’t hm to agree with ate the importance of discard-
ing the queen of diamonds. In-
stead. he discarded the three of
hearts. j
But Jhe tot® were kind to
him. Declarer, looking neither
to the right nor left, won the
chib with the ace and led a
diamond to the kbfe, He paid
no attention to the queen ynfft
waa toned to play.
tow only dummy's hand and would ton, but It didn’t Deri®.
^aTttto?*r.rr*13rw> ** ^ better than
The teit play to to discard
give up a diamond trick to West
and concede down two, thereby-
graving that two wrongs ■>««» 4
ftwuataiaci :
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Hartman, Fred. The Baytown Sun (Baytown, Tex.), Vol. 43, No. 264, Ed. 1 Monday, July 30, 1962, newspaper, July 30, 1962; Baytown, Texas. (https://texashistory.unt.edu/ark:/67531/metapth1057348/m1/4/: accessed June 30, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting Sterling Municipal Library.