The Orange Leader (Orange, Tex.), Vol. 59, No. 218, Ed. 1 Tuesday, September 11, 1962 Page: 4 of 20
This newspaper is part of the collection entitled: Orange Area Newspaper Collection and was provided to The Portal to Texas History by the Lamar State College – Orange.
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Moment of Meditation
SIE
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One Type of Polio Is Down With Two To Go
K-T
By HAL BOYLE
NSTK4TON
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Tax Diversion Causes Monumental Traffic Jam
A cynic once
was the fact
there would never be a nuclear war
On
that la. They
Political News Notebook
Report Answers No Questions
True Life Adventures
★ THE DOCTOR ANSWERS k
E‘‘$
Cornea Transplant May Help Sight
By DR. HAROLD THOMAS HYMAN. MD,
varOS
-AGverting Director
-Circutatle Memoger
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and are putting more than half
of their new receipts into com-
mon stocks. Such purchases in-
creased a bit in die first half of
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OAKLEY COMMENTS
The Military - Scientific Dilemma
Edilor
Chiet
EQilor
Edilor
Ediler
Edilor
THE BUSINESS MIRROR • . •
Popularity May Have
Caused Ups, Downs
By SAM DAWSON
THE OFFBEAT NEWSBEAT . . .
Novelist Feels Human
Race Is Lost Cause
22 •
7,
stocks is Douglas Vickers, one of
the University of 'Pennsylvania
professors who worked on the con-
troversial Wharton School survey
of mutual fund performances for
the; Securities & Exchange Com-
mission.
Even more influential is stock
ACROSS THE EDITOR'S DESK . . .
Toesack of Nubbins in Columntator's Payola
By J. CULLEN BROWNING
Al
Uli
- Iim
tmpariel
WASHINGTON (NEA)—Suppose you are one of the
three to four-million Americana who own a few shares
in one at the 350 mutual investment funds that make
up this $19 billion poor man’s stock market. The
average Investment in the 5.3 million mutual fund
accounts is $3,500. Some people have more than one.
They pay an average 1 per cent fee on their invest-
ment to have it managed by experts who are sup-
posed to get them maximum dividends through diversi-
fication. But a good many people wonder constantly if
they couldn’t do better by putting the money in one
or two companies on the big boards, or in an invest-
ment club of neighbors and pals.
The best advice available on this question is—Don't
look for the answer in the House Commerce Commit-
tee’s latest report. A Study of Mutual Funds.”
PETER
EDSON
By DON
said that the best basis for hope that
Kt
aR".
> >
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For
VALUf
The way of the transgressor is a bed of roses com-
pared to the couch of a civic-minded columntator.
Such as returning to the office from a chamber of
commerce committee meeting and finding the day's un-
fimished paper work buried under a ragged toesack
half fined with nubbins
Columnists become accustomed to having a little
^-^.m
n eg.rhaa’gtm
? 20
623
"The Unveiling Will Be About the Time
You Go to the Polls!"
2 >
Ef -1
r
.2
Who rejoice exceedingly, and are glad, when
they find the grave? Job 3:22
confused many .of the new own-
ers. +, buying by th* pension funds, says
I
-—--Pui-her
-----Eawer
this year despite the faltering of
the market.
garden he had hopefully planted on it last spring was
not entirely unproductive.
Two rows of corn located somewhere out in the sea
of grass and weeds had somehow managed to survive
inattention and drought long enough to mature ears
ranging in length from two to four inches.
These, I learned after diligent digging into the facts
Every
film of
Coaches
takes wl
Other
a certaii
job than
The fil
firm be
A goo
field-St.
day nig!
talking i
fullback
He rip
carries i
lone tout
lop. Alse
defensive
The fil
Whitman
exhibited
"Look a
exclaime
hackfield
the movi
Whitmi
down b
twice in
Whitman
He not
change <
run with
than eve
Dwight
Gregory
■leading 1
years, m
the Bobe
a depend
This w
pressure
angefield
and Rob
Mary’s s
Pratt,
to break
points. I
stole a F
it 22 ya
Tommy I
down by
nailed f
reached i
Early
fumble
cats. Wit
18. facir
slanted <
An eat
3,3
dawdling of the market in recent
days.
Contending that mutual fund
purchases significantly affected
price movements of individual
themselves were growing so fast
and had to put money to work.
Mutual fund managers stoutly
rejected any implication that the
operation of the funds hasn’t been
to the best interest of their share-
holders. or that their stock mar-
Vgg
<
•KE
2ldespz
have deafness due to defective bone conduction and
a salesman induced me to buy an aid that cost ever
$400 but that helps very Httle. He said that less ex-
pensive aids were of poor quality and I might as well
get the best. It there anything else I can do or must
I resign myself to deafness’
A—My dear madam, you have made two great
mistakes. One is to buy your hearing aid from a
salesman who is. obviously intent on selling you the
product put out by his employers. The other is to
permit yourself to be persuaded/that the most expen-
sive is necessarily the best. I'd suggest you make a
fresh start by consulting an ear specialist (otologist)
who will determine the type of deafness from which
you suffer, refer you to a Hearing Aid Center where
you can try aids of various manufacture, and then
re-examine you when you have decided on the type
of instrument you think is best suited. But do not
resign yourself to your deafness on the basis 9 this
single bad experience.
Q—Years ago, I had an eye infection that left me
with a clouded cornea through which I have never been
able to see except to recognize light and dark. I have
been advised to have a comeal traasplant to give me
a "window” that will restore vision to the damaged
eye. But I know enough about medicine to know that
transplanted tissues do not live when they are taken
from one person and placed in another. Why then
should a comeal transplant survive? And should I have
the operations? , S ’
A—Skillfully done, a corneal transplant does give
every promise of success. And, while you are quite
correct in your statement about the failure at trans-
planted tissues to thrive under usual conditions. your
reesoming does not apply to the cornea for the good
and simple reason that the cornea does not have
Mood vesseis. It can accept a transplant that is ex-
pertly introduced.
Q- am badly to need at A good hearing aid. I
peyote left on their desks now and then. This runs the
gamut from bushels of blackeyed pees to little white
envelopes containing affectionate notes from anony-
mous lady readers.
Due to the fact that the gathering of malarial for
this part of the paper keeps my foot in the street
quite a let. these are usually delivered while I'm out
—2en-td.szmdozmememeeme_gemy ech emerncom n<*l
rgmEMeby Lerder Publighing o.
perience with thin kind of program, plus the •
fact that it was strictly a volunteer under-
taking, last Sunday's immunization was sn
extraordinary success.
It is, of course, impossible to give due
credit to everybody who had a part in making
it a success. But we do believe a rousing
vote of thanks is owed to members of the
Orange County Medical Society and to the
community leaders who did the planning
and set up the organization.
A special word, we believe, also is due
the amateur radio operators. Without the
instantaneous communication they and the
people working with them- provided there
would have been serious problems which
could not have been solved quickly enough
to avoid extreme difficulties.
Naturally, it was impossible for the plan-
ners and organizers to anticipate every
situation and make preparations for every
eventuality. But the number of unforseen
difficulties were amazingly few and all were
successfully dealt with.
The experience gained on the first im-
munization date will be most helpful in
planning for the ones that follow. And when
the program is completed in December the
communities and the people involved with
it will be able to look back upon and cherish
one of the most remarkable demonstrations
of self-help ever known to this or any other
part of our nation.
of the case, are the nubbins in the toesack that was
left on my desk in my absence.
- New I greatly appreciate this token of regard for
my willingness to perform a civie duty when the ec-
caslon justifies it. I also respect the donor's desire
ter anonymity. But I dent believe so magnanimous
a gift should be accepted without a published word
of thanks to the donor.
At the same time, I feel that by making a clean
breast of the matter before the part of the whole wide
world which reeds this newspaper. I may avoid ending
sinn.the same griddle where they're roasting Billie
You see, any owner of unshucked or unshelled corn
in thia enlightened nation of ours is supposed to have
either an acreage allotment or a marketing quota.
I don't have either. So here I am in possession of a
sack of nubbins which are just as illegal as they would
be if made up into white lightnin’.
When I was a boy down on the farm, all corn was
legal except in a liquid state and if it wasn't needed for
chat we had it ground into com meal or else brewed
up a batch of hominy
I can’t afford to do anything with the com now on
hand. It may be needed for evidence when they call
me and Kirby before the Senate investigating commit-
toe for questioning .bout our finagling with acreage
allotments and marketing quotas.
Come to think of it, maybe it would be better to
contact Kirby's Sabine County kinsman and have the
corn made up into white lightnin’. it I could get the
investigating senators to each have a slug of that, me
and Kirby and Billie Sol Estes would all be taken off
the griddle and presented with medals.
------ -
The Orange Leader
TUESDAY, SEPTEMBER 11,1962
EDITORIAL PACE
THE ORANGE LEADER
summ a. om, _______
A Cullen Browning____ ___
doe Porsiey —--“N
•tows Paas _
Juan aasan —
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A K Devis _
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market, since they have been
ket activities, caused the price growing spectacularly since 1950
breaks in May and June or the ■ .....
TAX A
—s
ag-e34
----- 232 -■ 2 . 20/
How big a factor was argued,
with the help of slide rules, at
one of the meetings here of the
American Statistical Association.
The large inflow of individual
savings into the funds and then
into the markets helped boost
prices, some economists hold.
And then this year switching of
issues has added to the unsettle-
ment.'
Statisticians say that the buying
and selling policies at the mutual
funds, and even more of the pen-
sion funds, are giving the market
a new look. Part of the funds’
buying of stocks was compulsive,
they hold, because the funds
OAKLEY
Navy satellites Transit IV-B and TRAAC, thus pre-
maturely ending their usefulness. Telstar was af-
fected slightly and the U.S.-British satellite Ariel was
put out of commission for a time. The launching ef
a geodetic satellite named "ANNA” had to be
postponed.
Most expensive has been the cost in good will of
scientists around the world. Similar American tests in
1959 in the Atlantic—Project Argus — earned the,
. epithet "American roulette” from Britfsh astronomer
Sir Bernard Lovell.
He blamed the space explosions on "a small group
of military scientists, unknown and unidentified to the
world at large. who have persuaded their masters to
make a series of huge gambles under the guise of
military necessity. On the scale of the cosmos, they
are dealing with fireworks."
This year, 11 American scientists asked President
Kennedy to postpone the current tests. ’The earth's
environment,” they said. is not the domain for po-
tentially disrupitve experimentation by any single in-
dividual or even any single nation.
No individual and no nation has the right to
tamper with the vast balance of nature.”
The scientists argued that we do not as yet know
the causes of the earth's natural radiation belts. Even
if fears of disaster were exaggerated, the belts might
be altered in ways that over the long run might prove
inimical to man.
Over against this were military considerations for
the tests: the effect of a sudden blast of radiation in
communications, the possibility of destroying missile
warheads in space. •
It is disturbing to realize that Cold War tensions have
reduced not only ordinary people but world- renowned
scientists to the point where they can only hope that
the military knows what is best
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But I
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He ju
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clash.
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all first
worries
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Miller
tually t<
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ler. The
the Bea:
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handily.
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from th
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that atomic bombs had already been tried out against
Japanese cities.
He was referring at course, to man's insatiable
curiosity, his eternal question: "I wonder what would
happen if . .
Since Hiroshima and Nagasaki have answered the
question at what nuclear bombs could do to human
cities and human life—if only on a small scale—we
can possibly eliminate "curiosity” as one factor that
might lead to general nuclear war.
But there are many other ways that atoms and
curiosity can get the world into trouble, especially
when military needs enter the picture.
Most recent instance was the high-altitude nuclear
explosion set off over the Pacific on July 9. The two-
megaton hydrogen blast—small by today’s terms—
resulted in the creation at a new bond of radiation
around the world from about 200 to 0,000 miles high.
The Russians were not slow to use the event as
gnst for their ideological mill. Although the radiation
was well above the heights at which astronauts and
cosmonauts orbit, and although the rocket launching
stand on Johnston Island had been damaged and could
not be used for six to eight weeks, they hypocritically
begged that no more blasts take place while their twin
cosmonauts were in orbit.
The radiation zone, composed of high-speed elec-
trons, was first expected to decay in a matter of
months. It is now feared it may persist for years.
Just how it has affected the natural Van Allen belts
is not yet known.
It was. however, an expensive experiment in more
ways than one. '
The radiation wrecked the solar cells on the
W[BurmnH BiGHORNS
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STUNNN• HEAV-ON CLASHCS__
GodolA-29D 40S2C
ANV gxoedy, 268
ON L=e POWN. ¥ •25
a
mpee op Tie amociames earns
the world’s most monumental traffic jams.
In the early days of the special vehicle
taxes in Great Britain, the revenue went into
a road fund. But this fund was abolished
about three decades ago and today the Brit-
ish motorist is frightfully short-changed.
The taxes on road traffic in that country
during 1060-61 brought in the equivalent of
about $1,865,000,000 but in that same fiscal
year expenditures for roads amounted to only
about $280,000,000.
A recent report by the British Road
Federation cites the appalling result: Great
Britain's roads are the most crowded in the
world, with 33 vehicles for every mile—12
times the traffic density in the United States.
This can happen here if Congress con-
Payola that is hand-delivered almost invariably
bears a tag or greeting card giving the name of the
donor and the particular deed or misdeed of the
columntator for which the gift is being made.
The burlap sack had neither tag nor greeting card.
Al it born was a big hole in one side and about M
shriveled ears of con on the inside.
For s while I was completely baffled in my efforts
to make an educated guess as to the identity of the
admirer who sent me this little present.
Then I remembered hearing that since he tom his
netural. teeth Kirby Cona has stopped gnawing
mails when he hears that Neal Miler Jr. has made a
and has,begun chewing holes in toesacks.
Im also told that he gets regular supplies of the
sdcta from a Sabine County relative (his. not mine)
who buys them filled with corn chops that he uses in
the maufacture of white lightnin’.
Further research disclosed that I was left holding
the. begand. the contents thereof because I had done
what I considered my civic duty
, occurred • few days ago when a column ad-
dressed to Heloise was cloned with a little comment
about a certain weedy lot at 14th and Link.
aMzinterest.in this bit of acreage stemmed from
, it was near the time for reopening of
Jome Elementary School which is just .cross the
street.
_Graaa.and weeds en the tract had grown to the
poime wher * wouid have been possible for half a
dorea hookyplaying students * hideout " “
aAx.ngfayorgtothe Jones School teachers and hooky
dirRL. Dominy. 1 mentione the lot in the hope
that Kh»y would have it cleaned up before thef
SumPton or clasyes.
„Tisitte civic sesture on my part Proved to be
A.tew. days, later .the land-was mowed as
dean »• a whistle. And much to Kirby , surprise the
The federal government is still diverting
a large amount of its revenue from road taxes
to non-highway purposes. As a result, the
national highway program is not moving
ahead as fast as it might.
This is causing deep concern in some
quarters over the fact that the nation may
get farther behind on its need for major
highways instead of beginning to catch up.
Among those concerned with this is Wil-
liam M. Coffey, manager of the American
Automobile Association’s Texas Division.
In a recent statement for publication Cof-
fey called attention to the fact that Great
Britain, which 30 years ago began diverting
.i
"evWY*F-
1.9
MINNEAPOLIS. Minn (AP>—
Widening popularity of stockown-
ership among Americans—either
as individuals or collectively
through mutual funds or pension
funds—can in itself have been a
factor in the sharp ups and downs
in stock prices that this year have
motorists’ special tax revenues to non-high-
way purposes, is now reaping a grim harvest.
The British Isles, according to Coffey, tinues diverting road-user taxes to non-high-
have the world's most crowded roads and . , way purposes.
NEW YORK (AP) — Novelist
James Jones. who enjoys life
hugely himself, feels the human
race is a Jost cause.
"I’m pessimistic about man-
kind.” he Mid cheerfully. "I think
mankind is a dead race — one
way or the other.”
"Either he'll be the springboard
to a great race that will be as
much above present man as man -
is above the animals, or else-he’ll
kill himself off,” Jones says.
"In either case man—as he is
now—goes. The question is not
whether to save mankind, but
whether mankind has the guts to
change.”
Jones, a soldier turned author,
startied the literary world in 1951
with "From Here to Eternity.”
which sold more than four million
copies Critics now are hailing as
an able sequel, a raw, realistic
story of combat on Guadalcanal,
where Jones himself was wound-
ed
Jim. the most powerful writer
to emerge from World War II.
looks like his prose sounds. He's
a slugger — thick-chested, mus-
cular. with a chin like a concrete
dam.
Now married and the father of
a 3-year-old daughter, Jim roams
between Paris and the island of
Jamaica. He likes to box. skin
dive, and collect guns, knives,
jazz records and Indian carvings.
Stubborn, toughly sentimental,
he likes to go on an occasional
binge. But he is a laborious
craftsman to whom the produc-
tion of a novel is usually a lonely,
arduous one-man military cam-
paign. lasting from three to four
years.
"I don't wait for inspiration—
no real writer can,” he says. "I
just sit my"behind down at the
typewriter and work. It takes me
an hour to get started. I just sit
there until I get geared up. Then
I keep at it for five more hours.
"I also like to keep in good phy-
sical shape. But I wouldn't give
up living to stay in shape. There
222202"
FT.- Ke.
Vito Natrella, assistant director of
the SEC division of trading and
exchanges. ,
Vickers says funds tend to buv
on balance prior to upswings and
to sell on balance prior to down-
swings. Sinke this is what inves-
tors in mutual fund shares expect
from expert management, they
•can't quarrel with that.
But Vickers' contention is that
such buying or selling seems to
have contributed to the changes,
whether up or down So the grow-
ing holdings of common stocks by
the funds in recent years has •
added another and important
factor to the many that the in-
dividual investor must take into
account when assessing his own
portfolio.
Natrella says the pension funds
•re really the most influential in-
stitutional group in the stock
The ap*, HEA WOBUNG=“E
AND EKAN PNNIN•, ALMoGT - "am
8TGexce OVa* D-2 Evo OF A CLFF..
9-11 puegiEui---me- aKi2•
3225385
M‘ca-2
The 88.5 per cent turnout in Sunday’s polio
immunizatin campaign is a tribute to the
leadership, initiative and organizatiohal
ability of the many people who helped to
stage it
Since a good many of our citizens al-
ready had received one or all of the Sabin
vaccine series from their family physicians,
we now have somewhere around 90 per cent
of the populace immunized against Type I
polio.
Unfortunately, th** unprotected 10 per
cent means we have about 6,000 potential
polio victims or polio carriers. We hope that
all of those who have not received the ini-
tial dose of vaccine will get it either from
their family physicians or at the follow-up
clinics next Sunday.
We also hope that every resident of this
area who received the first sugar cube in
Sunday's mass immunization, or who al-
ready had taken it, or who will get the initial
dose during the next few days, will make
certain they get the two additional units
of serum needed for complete protection.
There is no longer any need for any per-
son to become a victim of any of the three
types of polio or to transmt the disease to
someone else. The means for complete elimi-
nation of this malady is available and we
who fail to take advantage of it do ourselves
and our neighbors an injustice.
In this connection, we should like to point
out that considering the lack of local ex-.
Why the answers aren't in this 600-page job nobody
will ever know. But if you ever want a perfectly
simple questjon completely confused, the best thing
to do issturn it over to a committee of economists.
House Commerce Committee Chairman Oren Harris,
D-Ark., in a letter of introduction to this report cites
a ‘congressional resolution authorizing an investigation
into the adequacy of protection to Investors under
existing securities act regulations.
That clear statement of purpose Is what started
all this.
The House committee staff couldn't do the research
job, so it was turned over to SEC. It had other fish
to fry so s contract was sublet to the Securities
Research Unit. Wharton School of Finance, University
of Pennsylvania at Philadelphia.
Under direction of Dr. Irwin Friend. a former SEC
analyist in the late 1930s. the Wharton research unit
made a study of openend investment trusts for a fee
of $95,700.
But the Wharton report was completed before the
market took its sensatonal drop May 28. Se it was
written to a vacuum to relation to current conditions.
The report makes no recommendations. It merely
leys down a basis of objective facts," says Friend.
— No one in the Wharton school will comment on
whether mutual funds are a good investment,” says
Friend. But we do think they are a useful social
adjustment to our economy."
That tells you nothing. .It is just a beginning. Se-
curities and Exchange Commission's division'of cor-
porate regulation under Allan F. Conwill must there-
fore take the Wharton report and evaluate it, which is
no small job.
Chief financial analyist J. Arnold Pines and his
staff will study the quarter of a million words of text
and 230 statistical tables. SEC will then make its own
study of closed-end .investment trusts, which the
Wharton boys didn't touch.
A task force of lawyers under Gordon D Henderson.
SEC special counsel on Investment act measures, will
then pick up where the Wharton report leaves off.
The lawyers will see what loopholes in existing regu-
lations need to be closed so that funds'can be policed
for greater protection of investors.
are a lot of enticements in liv-
ing.”
Jim put in five years in the
Army, and knew some lean post-
war years before book and movie
sales flooded him with a tide of
dollars, which he enjoys spending
with both hands.
"Success hasn't changed my ba-
sic viewpoint," he Mid. opening
a can of beer in his hotel room
"It has given me money, and I
live better — which I'm not
against: *
"But success is like history. It’s
just one big lie—except for the
money.”
He likes to feel that he looks
at the world honestly and without
illusion or hypocrisy.
"Life has been great to me."
he acknowledged, "but it is still
scarey. And for most people it is
nothing but a jungle.
"You get that feeling when you
are skin diving. Things sung and
hurt you and don’t even know it.
They have no conception of what
they do.
"People are like .that too. But
there is a hunger in man, as he
is made up now, to perpetuate
cruelty.
"Morally. man is now the Mme
in peace as he is in war. The
only difference is that in peace
the knives people stick in each
other are only verbal.
"But man has to learn to be
better than that. If he is going
to" evolve into a higher type of
life form, he has to become a
type that would prefer to accept
pain rather than inflict it on oth-
ers.
"Unless man does evolve, he is
likely to kill himself off. But evo-
lution takes time, and the ques-
tion is whether he has the time
left.”
Asked to put his philosophy in
a single sentence, Jones pondered.
His green eyes flickered into a
smile. "
"Life is a roller coaster ride,
so "—he tipped up the beer can
again— "hold on tight!”
ef the efftee. Except for the mash
arrive with the mall.
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Browning, J. Cullen. The Orange Leader (Orange, Tex.), Vol. 59, No. 218, Ed. 1 Tuesday, September 11, 1962, newspaper, September 11, 1962; Orange, Texas. (https://texashistory.unt.edu/ark:/67531/metapth1530685/m1/4/?q=%22~1~1%22~1: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting Lamar State College – Orange.