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Mason City Globe-Gazette (Newspaper) - March 10, 1955, Mason City, Iowa HOME EDITION MASON CITY GLOBEGAZETTE TNI N I W S P A P I R THAT M A K I ALL NORTH IOWANS VOL LXI UmlUd Full MASON CITY IOWA THURSDAY MARCH II IfSS ThU Paper ConiUU gf Two SecUoMfectlM OM Tighter Credit Necessary Senate Told Billion in State Un taxed Exemptions Made Public DES MOINES CWThe State Tax Commission reported Thursday that more than billion worth of property in Iowa now is exempt from taxation The report was prepared by Louis H Cook the commissions research director at the request of the last Iowa legislative Interim Committee and Sen X T Prentis RMount Ayr chairman of the Senate Tax Revision Committee The preliminary report does not attempt to list and discuss in detail the various sections of the Iowa code which provide for tax Cook said in an ac companying letter to Prentis Cook added Neither does it attempt to go Into detail of the exemptions from taxation of intangible personal property ordinarily referred to monies and credits This report does attempt to list in simple form the major exemption from taxa tion upon real and tangible per sonal property now granted by the Iowa law No Advantage It is recognized of course that much of this publicly owned prop erty is naturally exempted because of the fact that there would be no advantage in imposing and collect ing a tax upon it It is not true however that all public property should necessarily be exempt from taxation when such public erty is not held for purely govern mental purposes It seems clear however that the general trend in Iowa since the beginning of state government has been to liberalize exemption from taxation allowed upon per sonal property which in many cases has a very definite value upon which taxes may be levied The effect of this trend toward the liberalization and extension of tax exemptions has been to remove from the tax list a very large vol ume of physical property which bears no share directly of the prop erty tax burden The natural ef fect of these exemptions is of course to increase the burden upon nonexempt Grind Total The grand total of property ex empt from taxation as listed in the report was The re port gave a breakdown of the grand total as follows Federal government property in Iowa 208 million dollars state owned property coun ty owned property mu nicipally owned property AP Wirephoto FASTEST TO CROSS Col Robert Scott Air Force pilot from Des Homes waves from the cockpit of his F84F Thunderstreak Wednesday after he arrived in New York from Los Angeles Scott flew the distance in 3 hours 46 minutes 33 seconds at an average speed of 649 miles an new official record The Sheriff Said It and It CAME TRUE ROCK SPRINGS Wye WDeputy Shtriff Ed Phillips utid to fill his wife hed never as long at hie father did Hit fithir ditd following operation Sept 4 1911 in Aguilar Colo was M ytars 2 months and 16 days old Ed Phillips was fatally wounded in the Grown River railroad yards last Friday whin ho and othir officers were shooting it out with a crazed gunman Charles Billings 23 who later was killed Phillips died next day Ho was 31 years 2 months and 12 days old Verdict Next Month Wolf son Promises to Hike Wards Earnings CHICAGO Louis Wolfson says that if he gains con trol of Montgomery Ward Co hell increase earnings or step down The young New York and Florida industrialist determined to un seat the big mail order firms 81yearold chairman Sewell Avery held he third of a series of crosscountry meetings with stockholders in Puerto Rican Gunmen Guilty of Conspiracy Element of Real Danger in Stocks and Housing Eccles WASHINGTON S Eccles former chairman of the Federal Reserve Board said Thursday there is an element of real danger to the economy in the stock market and housing booms He called for tighter credit in both fields Eccles now a Salt Lake City banker told the Senate Banking Committee that margin requirements should be promptly raised to at least 75 per cent If the value of stocks continues to he said the margin requirements should ultimately be increased to 100 per cent As a matter of fact they should never thave been reduced in February Compromise Hinted Caffrey Nominated for Another Term on Board DES MOINES Leo Hoegh removed the name of Luke L Caffrey DCresco from the controversy over State Highway Com mission appointments by nominating Caffrey Thursday for another term on the State Board of Social Welfare The Senate last month rejected Hoeghs nomination of Caffrey to a Highway Commission vacancy created by the death of Frank Kerrigan There been speculation that Hoegh migh give Caffrey an interim appoint ment to the commission after the Legislature adjourned Caffreys current term on the Board of Social Welfare expire June 30 and Thursdays action b Joegh nominates him for a new sixyear term The fulltime wel are board post pays a year The commission job pays a rear but requires only parttime duty by the commissioners The Caffrey nomination was re ceived by the Senate in executive Cession It cannot be acted upon un NEW YORK UP A least seven dajs have Court jury Thursday found 10 Puerto Rican Nationalists guilty of I e consoiracv in connection with th Highway Commission school district property state fair board prop erty Rural electric cooperative trans mission lines 80 million dollars church and religious organization property 150 million property of privatelyowned educational insti tutions used for education pur poses 25 million and that part of endowment fund for noneducation al purposes 5 million property of hospital associations 100 million Million Property of fraternal charitable and social organizations 25 mil lion property of privately con trolled cemeteries 25 million live stock farm crops and poultry farm machinery 75 million equipment of garages dental and doctor offices and law libraries 25 million household goods 750 million inventories of manufacturers on finished prod ucts 50 million automobiles on which the property tax is now con sidered a part of the license fee veterans property tax exemptions 300 million forest and orchards reserves on which there is now only a nominal tax two million and aircraft 25 mil lion The report showed that the total value of livestock and poultry as of last Jan 1 was The value placed on crops on the same date was 500 million That gave a total for livestock poultry and crops of which Cook laid was a conservative estimate The total figure compared with the exemption meant that only about 532 million of thn billion and onehalf total value was nibjoct to taxation the companys home Wednesday Earlier meetings were in Los Angeles San Francisco anc Jacksonville Fla The 43yearold Wolfson prom ised that he either would increase Wards earnings or I would ten der my resignation and walk He said the meeting attracted stockholders representing shares of stock A similar meeting is scheduled Friday in Detroit and a fifth in New York at an undisclosed date Elect Directors Ward stockholders will elect di rectors April 22 to spell the final verdict on Wolfsons figU for con trol In a short speech and a lengthy question and answer period Wolf son injected into the discussion the name of Sears Roebuck a Ward competitor He said a Sears subsidiary Allstate Insur ance owned Wards stock and that events of the lastfew days make me feel Sears does not want to get rid of their present manage ment at Wards They dont want If I and my associates get in at Wolfson declared Sears is going to get the greatest run for business theyve ever Big Applause The statement drew the biggest applause of the meeting Wolfson also took verbal shot at Avery and Edmund Kridcr Wards president Neither man at tended the meeting Wolfson said the two apparently didnt have time to meet the little stockhold He told the stockholders that Avery puts on plenty of charm every three years but in the rest of the period youre He said he spoke of the fact that Avery appeared for reelection every three years SAME Flood Crests at Cincinnati CINCINNATI worst Ohi River flood since 1948 crested a 61 feet at Cincinnati Thursday and moved into the IndianaKentuck area The crest was nine feet above Hood stage After remaining sta tionary for a short time the water began to drop ata rate of abou onetenth of an inch per hour The flood left behind it a multi million dollar damage and severa thousand persons homeless I never reached the proportions of a major catastrophe High waters indirectly caused me death when a Cincinnati ware louse worker drowned trapped in an elevator descending into deep basement waters The Red Cross said families m Ohio West Virginia Kentucky and Indiana had been affected so far Mason Cityan Held for Two Breakins A 29yearoid Mason Cityan Thursday was being held for in vestigation in connection with the two Wednesday brcakins at Rock Falls Teamwork by the Mason City police and the Cerro Gordo County sheriffs office early Thursday re sulted in the arrest of Donald D Head 220 7th N E Officers said identified as coming from the two breakins had been recovered from Heads resi dence following a search No charges have been filed igainsl Head He was being ques ioned further by the police and the sheriffs HONEYMOONS OVER AURORA 111 UP Andrew Cordas 41 was arrested after his vife charged he came home drunk ook her false teeth walked across he street and threw them in a dump conspiracy in connection with thui attempted assassination of former President Truman aid an on representatives tm the floor of Congress The verdict ruled the National ists were guilty of conspiring to overthrow the government of the United States by force and vioi ence Maximum Penalty They face a possible maximum penalty of six years in prison and a fine Sentence was not mmediately pronounced The attempted assassination of then President Truman occurred on the steps of Blair House across the street from the White House on Nov 1 1950 The attack on the floor of the House of Representa tives occurred March 1 1954 None of those actually taking part in the incidents was among the Nationalists found guilty Thurs day Two Men The attack on Truman was car ried out by two men One was killed on tie steps of Blair House The other was sentenced to death but was granted clemency by Mr Truman Four Nationalists three men and i elapsed The Senate also received thre ap pointments from the governor ear ly in the session It has confirmei the nomination of Robert Becl CentervUIe publisher but rejectei the nomination of Russell Lundy Des Moines attorney who Hoeghs campaign manager A third nomination that of Chris Lar sen Sioux City print shop op erator has not been acted upon The matter of Hoeghs highway commission appointments and the Senates treatment of them has been a subject of running contro versy Some sources said the with drawal suggested a compromise Worth of Highway Work Ready for Spring AMES UP Stale Highway Commission Thursday announced approval of low bids on worth of road work as the task of lining up projects for spring sum mer and fall construction contin ued There was a letting in February and another major let i ting is due in April The current one woman made the attack on letting included a large amount of the House of Representatives inwork on secondarv which five congressmen were wounded They were tried and con victed SUI ENROLLMENT IOWA CITY Enrollment at the University of Iowa for the spring semester is market roads along with some pri mary highway activity The work included Butler Iowa 376 from Iowa 3 north into Bristow miles asphaltic concrete pavement Highway Services New Hampton Matt Henson Pearys Aide Dead at 88 Accompanied Famed Explorer to Pole NEW YORK tnMatthew Al exander Henson the celebrated Negro aide credited with playing the key role in Adm Robert E Pearys 1909 conquest of the North Pole is dead at 88 He died Wednesday after a Six week illness Hensouhad beea in retirement since 1936 but the ensuing years perhaps were the happiest of his life They brought him the recognition and honor long de nied him for his exploits Was Porttr Henson was a porter in a Washington hat store when he first met Adm Peary in 1886 Peary hired him aa valet During the next 23 years Hen son accompanied Peary on eight Polar expeditions culminated by that of 1909 in which the admiral said he would not have suc ceeded but for the faithful aide By then Henson had become a seasoned explorer himself well able to cope with the many hard ships of Arctic travel Henson was in charge of the sleds and dog teams on that final dash on April 6 With Henson and Peary were four Eskimos Peary wrote afterward that he could not have reached Ms goal without Henson However Hen son received little but scorn and criticism from the general pub lic 1953 It looks as though the stock market was being Margin requirements are now 60 per cent meaning one who buys stocks need put up only 60 per cent of the cost in cash and may DOITOW the other 40 per cent from his broker In February 1953 the Federal Reserve Board which has author ity in that field dropped the mar gin requirement from 75 per cent to 50 per cent It was raised last January from 50 to 60 per cent Earlier Witntst An earlier witness was John J McCloy board chairman of the Chase National Bank McCloy ex pressed the view that the com mittees friendly study of the stock market is not viewed with any great apprehension in finan cial circles Referring to the break in stock trices Wednesday and the day be fore McCloy said I dont hope at any general condition of the country is not so jittery that the facts de veloped here would result in a general de pression of val McCloy for mer U S high com missioner for Germany also told the s e n a t ors the ECCLES United Slates is becoming eco nomically more dependent on its allies as the free world grows He said this trend vorfcs the other way other Western countries increas ingly need the support of the American economy The inquiry directed by Sen Fulbright is now a week Id PROGRAM AP Wirephoto Star Marilyn Monroe played a differ ent role Wednesday night at the Astor Theater in New of usherette She and other celebrities passed out programs at the premiere of East Eden for the benefit of the Act ors Studio Claim Reds Beef ing Up for Attack Racial Origin Most of it apparently stemmed from his racial origin But it was enough to make a dismal failure of a lecture tour and void ef forts to award him medals Finally however by an execu tive order of President Taft in 1913 he was appointed to a S960ay ear clerks job in the Customs House here AP Winphoto M nt wirrpnmu ANlAta sinjrcr Johnny Ray minus his trousers and coat tries to elude crowds of autojrraph hounds and souvenir hunters by jumping on top of his car Ray is in Sydney Australia on a public appearance tour Drop Sharply Share prices dropped sharply on the New York exchange for second day Wednesday although a fairly broad recovery followed Fulbright stood by his conten tion that the Senate inquiry didnt cause the price break McCloy said industrial experi ence of 195354 casts doubt on a widely held belief that even a minor recession in the United States would set in train a down ward spiral in the economies of other nations which they could not While American production dropped as much as 10 per cent McCloy said Western Europes output rose 7 per cent and it was he strength in demand from West ern Europe that took up the slack n raw material markets and did so much to hold prices TAIPEI Formosa tfl A new Communist jet air division from Manchuria is being moved to the dangerridden Formosa Strait area for possible assault on the off shore islands an unconfirmed Chi nese Nationalist report said Thurs day The English language China News credited the report to Na tionalist intelligence sources but the Defense Ministry said It had not heard about it The report said Red China was bringing down the division to beef up its invasion threat against Free New Planes The newspaper said a Commu nist air division has up to 75 planes including MIG17s the lat est Soviet improvement on the highflying heavily armored MIG ashe Red air weapon in the Korean War Earlier reports had stated the Reds were preparing for expected ground reinforcements in the chow area opposite Formosa Official Nationalist circles wel comed wholeheartedly Secretary of State Dulles speech Tuesday night on his Asian tour They said be made clear that the United States would maintain a strong position against Communism in this part of the world and would meet force with force The Nationalist press went fur ther The Chung Hua Jib Pao mouthpiece of Chiang Kaisheks ruling party the Kuomintang said it is now certain that the United States will take resolute military action to help defend the National istheld offshore Eden Attacked The paper attacked British For eign Secretary Anthony Eden for suggesting that the Nationalists should abandon the offshore is lands Wen Hualing a former Commu nist naval official who deserted to FAIRFIELD Green Nationalists last December 40 Galesburg was killed told Thf Associated Press the Reds Vednesday when he was thrown were e to invade For out of a twoton truck which would try to seiza reened into a ditch and overturned Ilhe Ashore islands n him i Wen said he was convinced the Illinois Man Dies When Thrown Out of Moving Truck Eric Johnson 55 Galesburg nvner of the truck was not thrown t and escaped with bruises Authorities said a bolt worked Communists would try by diplo matic maneuvers to get the U S l7th Fleet withdrawn from protect jing Formosa but if this failed ff a rear dual wheel throwing he truck out of control on U S 4 about miles east of here Green was driving The men had picked up a load of lywood in Des Moines and were eturning to they might try a sudden attack Moline Stores Cant Give Away Animals MOLTNE 111 UP Moline tores have been forbidden to sell r give away live chickens duck ings or rabbits for Easter on on the fleet They would try this only if they had Soviet Russian air and naval support he said la his opinion Russia would provide this support if political maneuvers fail The Weather Mason City Continued mild Iowa Cloudy mild Minnesota Occasional rain Globe Gazette grounds the practice is cruel and weather data up nsanitary City health inspector John Lind uist slapped the ban on Wcdnes ay after Mrs Marie Wiogand resident of the Rock Island Hu mane Society said the practice esults in torture and death for hciowls and animals to 8 Thurs day Maximum Minimum At 8 YEAR AGO Maximum Minimum 54 tt 38 41 22
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