The Alto Herald (Alto, Tex.), No. 14, Ed. 1 Thursday, September 12, 1957 Page: 3 of 8
This newspaper is part of the collection entitled: The Alto Herald and was provided to The Portal to Texas History by the Stella Hill Memorial Library.
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THE ALTO I1ERALD, ALTO, TEXAS. SEPTEMBER 12, 1957
Vem Sanford
as Press Association
HcnJack Cage has
jyitjtians than a pretty
[a rich papa.
"dates" are with some
Itn groups who want to
[[at caused ICT Insurance
under with m u 1 t i-
tollar losses. Cage was
Lgcr until a year before
te.
[a grand jury session and
ctor test in Dallas, Cage
Austin. At the head of
^of questioners here is the
ounty grand jury. Other
lers include:
Due general investigating
itatc general investigating
anc Allred, attorney for
liquidator, handling what
remains of ICT.
4. Federal agents — from the
postal inspection service and Se-
curities Exchange Commission.
GOVERNOR SOUNDS OUT SOL-
ONS—Gov. i'ricc Daniel has asked
[Legislators for a "frank" expression
of their attitude toward the pro-
posed special session.
In an individual letter to each
member, the governor outlined
the session goats: ([) a [obby reg-
istration bi]], (2) a biH requiring
registration of those who repre-
sent others before state agencies,
(3) a bitl setting up a study on
how to prevent spread of crime
and (4) legislation to develop a
state master water plan.
No new taxes wilt be needed
to finance any of these projects,
or the session itself, the governor's
letter contended.
Best guesses are that, barring
stringent opposition from the law
makers themselves, the session
will be called for Oct. 15.
NAMED TO TAX COMMISSION!
—Three business experts from
ever the state will join with
lawmakers in malting a thorough
study of the state and local tax
structure.
Named by Governor Daniel to
the Texas Tax Study Commission
are Dr. John R. Stockton, Aus-
tin, director of the University of
Texas Bureau of Business Re-
search; John McKee of Dallas,
executive in the Ford Motor Co.'s
Dallas plant; Hugh Loewenstern
LAFF OF THE WEEK
**! oaat decide between (he pretty-ptnh
and the green one Hut* wriggles . .
Sr., Amarillo real estate dealer.
Three senators and three repre-
sentatives also will serve on the
Commission.
THERE'LL BE A WAIT—Owners
of land in the path of new state
1
These Savings Good For Friday and Saturday, September 13, 14
Admiration COFFEE
LB. PKG
89c
FOLGER'S
instant Coffee - H.15
6 OZ- JAR DEL MONTE MO- 303 CAN
CORN. 15c
LB.
39c
MORNING GLORY 2 LB. ROLL
QUILTING COTTON $1.19
GOVERNMENT INSPECTED
FRYERS
GRAYSON
OLEO - *9'
5 FT. 2 IN. MESH ROLL
<-B CHICKEN WIRE - - $6.95
SUGAR
10 LBS.
$1.00
5 QUARTS
HAVOLINEOIL $145
One Quart 29c
WHOLE BEAN RIO — Ground White You Wait LB.
SACKS *2 75 COF^E - 39.
10'/2 FT.
COTTON
We Have Plenty at Shells for Hunting Season
3 LB. CAN
SPRY - - S9c
100 LB. SACK
SHORTS. SMC
100 LB. SACK
MAIZE -
12H GAUGE 2 Point C7Qg
BARB WIRE 4 Point
2ROLLS
SCOTT'S
TISSUE ^
GAL
BLACKBURN'S QRr
SYRUP - gg'
Half Gal. --49t
CANNED—ANY KIND
BISCUITS 10c
LtPTON'S % LB BAG
TEA 35c
LOW AS PR.
WORK SHOES.. $3.49
TRELtS ^ CANS FOR
ENGLISH PEAS 25c
DEL MONTE H OZ. BOTTLE
CATSUP - 19c
We Have Complete Line of
SCHOOL SUPPLIES
On. And . Half Milt. South AH.OnHi„hw.y69
highways face a delay before
getting their money for It.
Under new law state pays half
the cost of right of way buying
for state roads. But since the
money is to come from higher
automobile license fees, the state
won't have it until next year
after people buy new plates.
In the most recent group of
road building projects authorized
by the State Highway Commis-
sion, it was expressly stated that
money for land buying would
not be available until after
March, 1958.
NO LENIENCY FOR DWt's—
Motorists who lose their drivers
licenses for drunken driving
needn't expect to get them back
before the suspension period is
over.
State Board of Pardons and
Paroles said it is no longer even
making recommendations for
early return for licenses. Gover-
nor Daniel, who must approve the
recommendations, has made it
clear, said the board, that he
doesn't favor leniency for DWI
cases.
Law takes away license for six
months on first conviction, a year
on second conviction.
MORE MONEY FOR SCHOOLS—
State aid to Texas public schools
has been raised $2 per pupil. It's
now at a record-breaking $80 per
child.
State Board of Education up-
ped the allocation after State
Comptroller Robert S. Calvert
reported a revenue estimate
nearly $4 million higher than his
previous estimate.
Present outlook is that the
state's bill for educating its
1,923,849 pupils will be a whop-
ping $336,116,108.
SHORT SNORTS—Most of Tex-
as' farmers and ranchers will go
into the winter with the best sup-
ply of hay and feed in years, re-
ports the U. S. Dept. of Agricul-
ture.
Surge of back-to-school activi-
ties may push the number of
Texas jobholders to the three
million mark, says the Texas Bm
ployment Commission. July total
was 2,998,000. School payrolls are
expected to add 20,000 more and
provide more business for retail
and service industries.
Leon R. Graham, member of
the Texas Education Agency
staff, has been advanced to the
post of assistant commissioner of
education for administration. He
replaces Bascom B. Hayes who re-
signed to become superintendent
of the Brazosport School District.
Choosing a site of the new state
archives building has been de-
layed, reports Rep. Vernon J.
Sewart, chairman of the selection
committee. Legislature authorized
the building last session but pro-
vided no money to survey prop-
erty for a site.
Watson Wise of Tyler will serve
as chairman for Texas' observance
of United Nations Day, the
governor's office announced.
AS/AM FLt/
The American public has been
warned by Surgeon General Le-
roy E. Burncy that Astatic flu this
fall or winter might strike between
13,000,000 and 26,000,000 Ameri-
cans in the event of an epidemic,
even if a newly - developed vac-
tine is widely employed. About
60,000,000 doses of the vaccine are
^expected to be available by F6b.
1, but estimates are that the vac-
cine will be only about 70 per cent
effective.
WORDSjtmECB*
THOUGHTS
MomMnv/ /r
tM4S JUSTA
PKesE/vr/
.,.Pt/7*tET&TMCEtlY
.,'4
T_TERE is a picture painted rc-
rl eently by Congressman
Wright Patman. Texas, veteran
member of the House Committee
on Banking & Currency:
The power and authority of the
Federal Reserve Banks over mon-
ey suppiy and the cost of money
is the largest single factor govern-
ing the nation's economy, taxa-
tion, inflation, high prices, high
costs and all nth-r erinm-i!" r-<')-
lems.
AH power over mcney. its coin-
age, etc. is vested in the Congress
by the constitution: authority for
administering this power is dele-
gated by the Congress to the
board of directors of the Federal
Reserve Banks; as it turns out a
majority of these board members
are either bankers or hold bank
stock, which means that the Con-
gress has delegated the power
over money to people who have a
private interest in regulating the
supply and the cost of money. Said
Congressman Patman: "Two
thirds of each board of directors of
each of the 12 banks selected by
the bankers themselves having a
private interest and a selfish inter-
est in having the supply of money
as short as possible and the in-
terest rate as high as possible—
that is what has happened in this
country the last 18 months, at
least."
The member banks are required
to make a subscription to the capi-
tal of the Reserve bank for which
they receive a dividend of 6%
fixed by law. This subscription is
called "stock," when as a matter
of fact it has none of the normal
attributes of corporate stock, since
the risidual interest and surplus
of the Federal Reserve Banks be-
long to the United States Govern-
ment, not to the so-called bank
"stockholders."
The "stock" serves no real pur-
pose, adds up to about $330 mil-
lion which is of no real worth in
the Fedcrai Reserve System which
owns $23 billions in bonds and has
assets of tens of biilions of dollars.
It should be returned to the mem-
ber banks and the taxpayers saved
$20 million annualiy; the 12 banks
have a surpius of $745 million,
which belongs to the Government;
$330 million could be used to re-
turn to member banks their re-
quired subscriptions, leaving $410
millions which could be turned
back into the Treasury as savings
for the taxpayers; the Federal Re-
serve Banking system, remember,
is NOT owned by the member
banks or private banks. It is
owned by the Government of the
United States. There was a time
when, as a part of the Government
financial system the Federal Re-
serve was required to support
Government Bonds. However they
defied the President of the United
States and on March 4. 1951, they
quit supporting the prices of Gov-
ernment bonds. Congress has let
them get away with it. The Eisen-
hower administration has recog-
nized the "Independence" of the
Federal Reserve Board and par-
ticularly the Open Market Com-
mittee.
Here'! how the Federal Reserve
Bank buys $23 billions in Govern-
ment Bonds: The Federal Re-
serve buys U. S. Government
Bonds by taking the money from
the Bureau of Printing & En-
graving in the form of Federal Re-
serve Notes which cost them noth-
ing. but which the U. S. Govern-
ment promises to pay; trades
these notes for Government bonds,
keeps the bonds and charges the
government interest on these
bonds which runs to something
like $600 million annually, and this
interest is paid by the taxpayers.
The banks put up not a red cent
of their own money for these gov-
ernment bonds.
%
Q—Has Senate appr. ) to nomination of Arnold Jones to the TV A
Board been given?
A—The Jones nomination has been considered but no committee
action taken. It would appear that Congress will adjourn without
conHrming the nomination. The sudden death of Dr. Raymond
Ross Paty, last Truman-appointed member of the TVA Board,
leaves only Gen. Herbert D. Vogel, an Eisenhower appointee,
remaining member of the three-man board. Gen. Vogel can take
no policy action which calls for a majority vote of the three-man
board. Should the Congress adjourn without confirming the Jones
appointment, it is considered unlikely the President would give
him an interim appointment, since it would not enhance hi!
chances of a confirmation when Congress convenes next session.
Neither would a new interim appointment set well with the Senate
on the other vacancy. The President may make such an appoint-
ment, however from some other agency for the interim, with the
understanding he return to his old post after Congress reconvenes.
Q—What Is the status of the Postal Increase bill?
A—The measure passed the House 256 to 129 hiking postal revenue by
approximately $500 million in most all classes except parcel post.
First class letters boosted to 4c; air mail to 7c, post cards to 3c
etc. Because of the lateness of House action there was little like-
lihood the Senate would act on the measure.
Q—Where and when was the first atomic bomb exploded?
A—The first atomic bomb was produced at Los Alamos. New Mexico^
and exploded at Alamagordo, New Mexico, July 16, 1945.
Q—What prominence led to John Adams election as President?
A—His greatest prominence no doubt, was that he had been vice-
president two terms in Washington's administration. Despite
the Washington inOuence he was elected by only a majority of
three votes in the electoral college, 71 to 68. However he was
our first Minister to England, had been a Commissioner to France,
a member of the Continental Congress, signer of the Declaration
of Independence, and was well known in Massachusetts as a mem-
ber of the provincial Congress.
TELL US VQUR
PROBLEm
, JOHN and SUMCKtAM*
TODAY'S PROBLEM:
When Handed a Lemon
rpHELMA UNDERWOOD at an
^ early age came from Canada
to Boston, Massachusetts. Back
In Canada where everyone in *
smaH town knew bet, and where
none who were nsed to her speech
saw anything strange about it,
she was not unhappy over a
slight palate dcfect which caused
her to lisp.
But in Aston the school chil-
dren looked her over in the cruel
manner of the young and decided
she was different, and to be dif-
ferent was a grievous fault. They
laughed when Thelma recited, so
she hated to recite. When she
talked with them at play they
looked puzzled, tried to figure out
why her words sounded different.
Naturally. Thelma became a
most unhappy little girl, drew
within herself, talked only when
necessary—and she cried herself
to sleep night after night. She was
glad when Friday afternoon came
and she would not have to face
her playmates for two whole days.
One day she picked up a folder
advertising citrus fruit. On it were
printed the words, "When you're
handed a lemon, make a glass of
lemonade."
Inside the folder the advertising
writer, in an attempt to impress
the reader, cited several instan-
ces when someone had turned ill
luck into good luek, tn each case
ending with "He was handed a
lemon, so he made some lemon-
ade."
She was only twelve years old
but she understood the philosophy
in those examples the fblder re-
lated. But that writer probably
didn't have a defect in his speech!
The slogan stuck in her mem-
ory. One day when she said
thing in class, the other eh
laughed. She herself could
humor in her expression,
laughed too. The children laughed
again, but this time they seemed
to be laughing with her. not at
her.
As she started home one after-
noon one of the smartest boys in
the class asked if she wanted him
to carry her books, and went out
of hi! way to take them to her
gate; usually a boy just carried
them for a girl only to where their
paths parted. As he handed her
books to her he !ald, "You talk
awful cute, and you make thing!
funny." He liked that.
i'!t<
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Frank L. Weimar and Son. The Alto Herald (Alto, Tex.), No. 14, Ed. 1 Thursday, September 12, 1957, newspaper, September 12, 1957; (https://texashistory.unt.edu/ark:/67531/metapth215487/m1/3/?q=%22%22~1: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting Stella Hill Memorial Library.