Denton Record-Chronicle (Denton, Tex.), Vol. 59, No. 284, Ed. 1 Tuesday, July 10, 1962 Page: 4 of 18
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PAGE FOUR
1'HE DENTON RECORD-CHRONICLE : t t EDITORIALS AND FEATURES : :
TUESDAY, JULY 10, 1962
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Editorials
Yesteryear
$
Sound As A Dollar
HAL
WORLD
BOYLE
TODAY
Texas Has 517,000 01 Them
Memories
Hard Knocks
By HAL BOYLE
to 25,000.
JULY 10, 1942
away to a New Jersey prison for
shares $2 to $4 or
more.
ge It
JULY 10. 1952
THIRD
SIGN
WANTED
Coloreds On I y
majority of the nation These
Territory of the Pacific Islands
tianary ' u ,11 hr mailed
to anyone
r
■
)
garage, found $2 4 million in the
trunk of an old car which used to
biggest boosters He has become
a reminder to people going away
that their money is safer in the
Texans except Casey: Fisher. Ma-
hon and Rogers who were absent
and did not vote.
HOW
TEXANS
VOTED
OIL ISED
OX STREETS
doors at night.
Old ladies cooled themselves in
Ver
a dis
1952
6.5 Million
,7
G8k2f ;
1959
12.5 Million
aLANGUAGES
E) in the NEWS
S-K By Charles F. Berlitz
and Robert Strumpen-Darrie
The coloreds are mainly a pro-
duct of the mixture of white set
V
425522
IF I WERE you,
cy racketeer, turned into one of
• the American banking system's
Denton Record-Chronicle
Telephone 382-2551
Fubhshed every evening except Saturday end on Sunday morning by
DENTON PUBLISHING COMPANY
314 East Hickory
-
9 N*
M 1
which
wouldn't make anybody back
home mad at them they don't
TAX PLAX
ELIM IX AT ED
made and sent by the best trans- .
portation available on Amending the Johnson Act
Some Wall Streets doubt if of 1951 bybanning the interstate
.the inflation controls are holding transportation of gambling ma- brandy around his neck.
In the past two days buyers have chines, except to gambling estab-1
i given the stock market its busi- lishments wnere betting is legal
est trading of the year, boosting understate law. Passed 348-1 (the !
1 ■ — • President took no position1:
FOR THE AMENDMENT: All ,
252
bank.
Some workmen, remodeling a
/2
/ J
23
4e,
Eme,
be- tion of imports of adult honey 100k back and
bees Proxmire proposed to elimi.....
Do you know how many ot onr
50 states are named after indu-
l viduals? There are ten. We all
know, for instance, that W ashing-
ton is named for our first President
and that Pennsylvania is named
in one of the strangest weddings
five per cent of all shareowning in years—a kind of shotgun mar-
families have children. cage brought about by what they
The new census also shows that seemed to think is economic ne-
taxes grabbed the dough.
Elvis J Stahr Jr., who just quit
as secretary of the Army to be-
come president of Indiana Univer-
sity. called Secretary of Defense
Robert S McNamara probably
Al
. f ■
BUS
One of the greatest contributions the free enter-
prise system has made to the average person's
life is the go now-pay later philosophy which has
spread to almost every corner of salesmanship.
Since this philosophy is such an integral part of
i free enterprise economy, it was almost shocking
this week when the mat’ brought a poop sheet urging
us to subscribe to the Worker, the New York news-
paper voice of the Communist partv in the United
States.
In big letters at the top of the coupon- “Sub-
scribe Now ... Pay Later ”
•I
7 x
Ece
8.,
r.M401
I D Go Si ICK MY HEAD IN 1^12 TENT.•
N
d
M*.
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Ki
A
tides and services leased to the
| government. Amendment reject-
ed 28-38 (the President took no
position’:
FOR THE AMENDMENT To-
wer.
ABSENT AND NOT VOTING:
Yarborough.
r
In an exchange of letters between President Ken-
nedy and David Rockefeller, president of the Chase
Manhattan Bank of New York, the President con-
cludes with the positive statement, "I assure you
this administration intends to do whatever must
be done to make certain that the dollar remains
as ‘sound as a dollar’.”
Specifically, the President said this country will
keep short-term interest rates high enough to avoid
any unnecessary outflows of gold, which he said had
shown considerable.improvement over the last three
years; and it will increase the availability of cap-
ital for the purpose of investment and moderniza-
tion, which Rockefeller had stressed.
The dialogue brought out basic differences.
Rockefeller urged immediate tax cuts with com-
pensating cuts in government spending to balance
the budget.
The President has projected a budget for the next
fiscal year that is $5 billion higher than the last one,
which racked up a $7 billion deficit. Although he
says he trims budget requests of the departments
and agencies, traditionally these requests are high be-
cause cuts are expected. The reductions do not
cut deep enough. Government spending continues
to mount whether or not the revenue is in sight.
We all want a dollar that is as sound as a dol-
lar But it is not achieved with words. A sound
dollar is the difference of revenue above expendi-
ture. Persistent difference in expenditures over
revenue makes for a veak dollar.
It is that elementary.
shin since 1959, TThe two—Premier Yousef Ben
Shareownership among minors Khedda and Vice Premier Mo-
has mmped from 197,000 in 1959 hammed Ben Bella-don’t agree
to 450,000, dpparently due in large on how to run the country which
pait to new laws in all 50 states means they don't agree on which
designed to make p easy to give should be the boss
history
Then he said, in effect, that Mc-
Namara has taken too much
authority into his own hands.
And McNamara, who three
weeks ago seemed to be saying
this country would not hit Soviet
cities in a nuclear war, indicated
to be
11,015,000, or nearly two-thirds ofcessity - the U.S Chamber of
the 17.010.000 shareowners in Commerce and the AFL-CIO for
1962, own shares listed on the once saw eye-to-eye.
New York Stock Exchange: anoth- They urged President Kennedy
er 3 770.000 own only shares list-to ask Congress for a tax cut
ed elsewhere or traded over-the- now to boost the economy fast
counter; and 2,165,006 own shares That's all they agreed on They
in investment companies, princi-disagreed on who should get the -
pally multual funds This last ca biggest cut: the rich or the far
tegory increased by 75 per cent from-rich.
The government, which said
Moriarty owed it a fortune in
domestic ship construction and
, BASK SUBSCRIPTION KATH
Single Copies Evening 5 cents. Sunday 15 cents
od cents pnrsomaetdey ot publication by city carrier or by motor
Home delivery by mail (must be paid in advance) Denton and adioinin,
eountie,$1.23 per month, $12.00 per vear, elsewhere in the United
States $1 50 per month, $18 00 per vear.
_MEMBE Auon BUREAU OF CIRCULATIONS
NOTNE TO PUBLIC - Any erroneous reflection upon the character
reputation or standing of eny firm, individual or corporation will
gladly be corrected upon being called to the publishers attention The
publishers ere not responsible for copy omissions typographicai errors
or any unintentione! errors that occur other than to correct them in
next iasue offer H io brought to their attention AH odverisina order
er accepted on this basis only
Minister Henrik
Now available at the U S Post
Office here are the new- station- at his discretion. Amendment re.
ary-envelope. combinations onjected 26-40 (the President took
which letters to armed forces over- no position t.
seas may be written Introduced! ABSENT AND NOT VOTING
[ by the government to save weight, Yarborough and Tower
the V-mail service is one by
Which a miniature photographic1 THE HOUSE OF
negative of the message may be REPRESENTATIVES
Entered esecond class mai at mhe post office •’ Denton, Texas
...........
AnrRpDlisationsottalg.docal newa printed
since 1959 Secretary of Agriculture Or-
The 1962 Census encompassed ville L Freeman had just fin-
6,278 corporations whose shares ished telling the Senate his depart-
are traded publicly on the nation's ment had gotten rid of any
(on„ pepp SMI MH . r ........- . ....... -b securities exchanges nr otherwise employes known to have accepted
(■onzz- ABSLM Wji \i>| MHIXi. (be . ob.i question |f-M mh h a< ’ i<.n 1 md .ur held M ;.i a>aq um ■, !, lavm ham hui m.j— C..!
iF.-her, r .age Aljrr. eiidlanger white rule jholdlers of record. Jic Snl Kates 1“ **
tically every man kept a shotgun sus in 1959,’ Funs ‘6 su com-
in his home — but nobody ever menting on the latest survey in
thought it necessary to lock the the Exchange's series, the only
wer.
AGAINST THE AMENDMENT:
Yarborough.
On passage of the bill increas-
ing the public debt limit to $306
billion. Passed 55-34 (a "for"
vote supported the President):
FOR THE BILL: Yarborough.
AGAINST THE BILL: Tower,
On Keating motion to reject the
conference report to amend and
extend the Export Control Act
of 1949. The conference report pro
posed extending the act for one
year without amendment. Motion
, agreed to 44-33 (the President took
no position);
FOR THE MOTION: Tower.
AGAINST THE MOTION: Yar-
borough.
On Senate Finance Committee
amendment to extension of the Re-
negotiation Act of 1951. The corn-
mittee amendment would prohi-
bit government agencies from in-
iserting in renegotiable contract
provisions which limit the profits
of contractors. Amendment re-
jected 26-46 (the President took no
1 position ।:
FOR THE AMENDMENT: To-
wer.
PAIRED AGAINST THE
AMENDMENT: Yarborough.
On Senate Finance Committee
amendment to exempt from rene-
.pa..u „„„ — „„ ce yeazs agu, last week this is not exactly what
and has an annual household in- he meant
come of $8,600, up sharply from The Pennsylvania conference ot
$7,000 in 1959 the 50 governors couldn't reach
Nearly three million clerical and full agreement on what ought to
sales people—a million more than be done about civil rights. medi-
in 1959—comprise the largest seg- cal care for the aged, or the
ment of the employed shareowner Supreme Courts ban on official
population, followed by 2,682,000 prarers in public schools,
professional and semi profession- They finally agreed
al persons and 2,276,000 proprie- against something,
tors, managers and officials.
FOCK OUT of five adult share- want the government to cut down
owners completed high school: the size of their National Guard,
more than half have had some Two fellows named Ben in Al-
college training, and nearly one gena which only a week ago
third are college graduates Per voted for independence from
sons in these educational categor- France, got into a power struggle
les accounted for 95 per cent of which may soak Algeria in a new
the increase in adult shareowner- wave of blood
--gotiation standard commercial ar-
On amending the Federal Avi-
ation Act of 1955 to give the Civil
City Commissioners have elimi- Aeronautics Board permanent au-
nated a six-part tax payment plan thority to license and regulate
here but they retained a table of
delinquent tax penalties and inter-
est in current use.
Sam Rayburn let it be known
yesterday he'll accept the Demo-
cratic presidential nomination.
ahter W ihiam Penn. but some of
the others are not as easily
recognizable
Lonisiana-named alter louis
XIV , king of France
Virginia - Elizabeth 1,
"The Virgin Queen" of England.
North and South Carolina—
after King Charles] of England.
Maryland —named by Lord
Calvert for Henrietta Marta, quern i
of Charles I of England.
Georgia - after King George II
of England.
California was named for a myth-
kai Amazonian queen by (he
Spaniards, who thought they saw
Amazons there.
New Mexico — de11red from
Mett, a war god of die Aziecs,
1962 .
17 Millon-
supplemental airlines. Confer-
ence 'report agreed to 337-0.
FOR THE AMENDMENT: All
Texans except Casey, Fisher, Mo-
hon. Rogers and Alger who were warm weather with d wooden
absent and did not vote, handled cardboard fan. usually
On conference report to Sugar given away free by the local
Act Amendments of 1962 Agreed grocer or undertaker.
to 248-31 (the President took no . A! births, marriages and
position' deaths ere chronicled in a big
FOR THE BILL: Beckworth, well-worn, well-read family Bible
Brooks. Burleson. Dowdy. Gonza-With a time- faded leather cover,
lez, Patman. Purcell. ' Roberts, Many a father sternly, an-
Thompson, Thornberry, Wright nouncedhe’d be caught dead be-
AGAINST THE BILL: Kilgore. , he d let any daughter of his
Rutherford. Teague, Young -cut off her tresses and go
ApSpN ANI NAm vAniNe • around with bobbed hair. (AP) — South Africa is dotted with
Casey. Fisher poage Alger’ ’ , A really polite man always facilities for "whites only" or
PAIRED AGAINST THE RUI IPPed his hat when he met ladies non-Europeans only." Now the
Rogers
On extension for three years of
JULY 10, 1922
The dry weather and heavy traf-
fic of the summer are causing
, the residents of several streets. ।
to resort to the use of oil to On conference report of the Sug-
allay the dust. East Oak and ar Act Amendments of 1962 Re-
parts of North Elm and Con- Port agreed to 54-12 (the Presi-
gress have been oiled in addition dent took no position':
to recently graveled thorough- F R THE REPORT: Yarbo-
fares. rough.
' The Oil Field Special running ABSENT AND NOT VOTING:
between Dallas and Wichita Falls Towerr, 1
; through Dentz was included in .on eeroxmine amendment to And, no matter .what
the 43 M-K-T trains which offi- ‘ ansfield rider amending the 1962 chronological age is, you
'rials announced Saturday would sugar bi regarding the restric- have a youthful spirit if you
be discontinued temporarily ' "" « •• • k—....
1956
8.6 Million
1—M--
Texas has an estimated 517,000 shareowner studies of their kind
shareowners, seme 395,500 of and scope ever made.
them living in 12 large metropo- "The increase in the last three
(APE TOWN, South Africa
F
(VA' £^9
ga
63
gd* 2i
By JAMES MARI ow
NEW YORK (AP)-A person is litan areas and 121,500 in other years has been at a relatively uni- Associated Press News Analyst
as young in heart as his memo- parts of the state. form rate in the seven geographic WASHINGTON । Ap,_ i s yen,
ries. These are among.the findings regions in the census. The most busy in the department of knocks,
your of‘he New Y ork Stock Exchange s significant shareowner growth is boosts, double talk and utter con-
still recentiy released 1962 Census of (discernible ir smaller and medi- fusion
i can Shareowners which determined um-sized communities. One-quart- overnight. Joe Moriarty, a poli.
remember when— that U. S, shareownership reach- er of all shareowners now live in
-co. . vae piypujeu iu eim- .. . . f .. ed a new high of 17 million this communities of 2,500
nate all sugar quotas for countries « . 10 416.8 ' v . year. Statistics for Texas, an- Another 22 per cent live in cities
not in the Western Hemisphere en nickel’ •• ‘ ’ nounced by Exchange President of 25,000 to too non Three out of
except the Philippines and For-1 Keith Funston. show that: four shareowners now live in ma-
mosa and—as did the Mansfield High school girls were eager to j Texas’ 517,000 shareowners jor population centers classified
rider—to give the President au- ac as babysitters for 10 cents comprise 3 ver cent of the nation- as metropolitan areas
(thority to distribute 150.000 tons an our. al total. The state total repre- ,
to Western Hemisphere countries Middle age began at 40 instead sents an increase of 142,000; or , AMEKrc ' shareownins PoPM-
- of 45 or 50. 38 per cent over the 1959 total- lation of 17 million persons in
. F , 1962 is 10 million higher than the belong to Moriarty before he went
; fit was a sign of prosperity for this in turn was an increase of . . . . r"em
. man to wear ., big ruby in a 215,000, or 134 per rem. over estimated in the first cen-
gold ring 2 lone out m every 1, persons sus taken b) the Exchange a a few years
, _______’ ___decade ago, and 4.5 million above
The only people who went ski- 111 Texas is a shareowner, com- eipir. Thd» average
ing were foreigners who lived in pared with one out of 26 in 1959. h . , IE f „ The average
8 were mreigners wno lived in ’ growth of 15 million shareown-
Switzerland—a land here. if you and one out of 56 in 1956, ers a ver sinee 1950 Funston
got lost in the snov a hip friend 3. Dividends received by Tex- ei ,a year since 1339 Funston
8 ' „ . ,. . g mnend- "I Nsi,n noted, has accelerated from a rate
ly St. Bernard would plod to your ans in,1961 ttaled.8367 milion of about 850 000 between 1952 and
rescue carrying a small keg of 4 There are some 1.293,000
• • ■ • • shareowners, or 7 6 per cent of
i in the country you read by a thetnationaltutzianmthessguthummnscriberonntne new 'census the best defense secretary in
in.thencity by a Missin-lare the facts, for Instance, that '
25watt electric light bulb si . Oklahoma, Tennessee and women still outnumber men as
of dipththeria. .Texas The incideve of share- shareow ners51 to 49 per cent,
everybody had to leave the house ownership for the south Central I compared with 52 5 to 47.5 per
for a day while it was fumigated. States is 4.5 per ce f total popu- cent in. 1959—and that more than
All boys wore their hair pom- lation. For Texas i is 5 4 per half the women shareowners are
padour style, and trained it to liecent housewives
flat by wearing a skullcap. -Shu reownership has increased The average shareowner is 48.
Except in the big cities, prac- in every state since our last cen compared with 48 three years ago.;
How Texas members of Con-
gress were recorded as voting on
major issues last week:
THE SENATE
On Williams amendment to
make 3306 billion the limit on a
bill that would increase the pub-
lic debt limit to $308 billion. Re-
jected 37-52 (an "against" vote
supported the president’:
FOR THE AMENDMENT: To-
in the street—and never chewed nation's mulattoes are plugging
tobacco while visiting in other peo for a third classification—"color-
amng"indpmrad nua hurandsae Smamf-man.‛sr theantona"; w „ w.. „ c
ate fewer than six biscuits and'they should not he lumped with gifts of stock tn minors. Forty,
three eggs for breakfast, the non-Europeans, who make up
When a farm boy left to seek a
cause of strike conditions.
VJ9A1L
READY
conversion and raise to 60 per
cent for three years the ceiling on
subsidies for reconstruction and his fortune in the city, his mother include the African blacks and
reconversion of passenger ships sewed up most of his money in the numerous Asian Indians
Passed 293-5 ’the President took his underclothing
no position1: When a telegram arrived,
EoR THE B-LL: All Texans ex-everybody broke out crying They tiers with the native black people,
cept Fisher, Poage and Alger who were sure, even before opening it They are usually better educated
were absent and did not vote that no one would go to all the than the blacks, and look down
On increasing the authorizations trouble and expense except to on them Many blacks, in turn,
for administration of the Trust send bad news, envy or hate the colored people’
Remember? Resolutions sent to the govern-
from $7.5 milloin to $17 > million — merit by representatives of the
and limit to 15 million the funds Roberts, Rogers. Rutherford, colored people suggests that
to be approprialed in fiscal 1963. Teague. Thomas. Thompson. Prime
Passed 281-14 (the President took Thornberry.. Wright. Young woerd recognize them
A topraf the Berlitz "Omer; Die no position- AGAINST THE BILL Dowdy Unci and separate racial group "
■ -------- FOR THE BILL Bet k’vorth Purcell The governments stand in gen
uo"InE a a.iewem u»rn in l an- Brooks Burleson, Casey, Gonza- ABSENT
zmzetithr*ews U9 fir-,- kigore, Nfahon, r
A DECADE OF GROWTH
IN SHAREOWNERSHIP
M
Ls
3SSNN
9220, \
55,* N
H6i ll
Shareowners
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Denton Record-Chronicle (Denton, Tex.), Vol. 59, No. 284, Ed. 1 Tuesday, July 10, 1962, newspaper, July 10, 1962; Denton, Texas. (https://texashistory.unt.edu/ark:/67531/metapth1531719/m1/4/?q=%22%22~1: accessed June 27, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting Denton Public Library.