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Mason City Globe Gazette: Tuesday, January 17, 1956 - Page 1

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   Mason City Globe-Gazette (Newspaper) - January 17, 1956, Mason City, Iowa                                North Iowas Daily Newspaper Edited for Uw CITY GLOBEGAZETTE THI NEWSPAPER THAT MAKES ALL N ORTH IOWANS NEIGHBORS VOL LXII Auoclated PTCM and United PTBM FuU LMM HOME EDITION MAKE EVERY DAY SAFE DRIVING DAY Seveo CtnU a Copy Is Price of Stock Ford Reveals Share Cost MASON CITY IOWA TUESDAY JANUARY 17 1956 Paper CoaiisU of Two 84 WASHINGTON UBTA price o a share was placed Tuesday on Wednesdays vast public offer ing of Ford Motor Co stock The Ford Foundation will reap from the bigges corporate equity financing in his tory The price was reported to the Securities and Exchange Commis sion as the final legal step required before the common shares are offered Wednesday morning The 722 se curities firms across the country reported almost unprece dented investor interest in the issue which admits the public into co ownership with the heirs of the company founder the late Henry Ford The price was supplied by an amendment to the original Ford registration statement filed with SEC last Dec 21 as required by law to protect investors The commission will meet Tues day afternoon to consider the pros pectus It is expected to clear the issue speedily The stock then can be listed for trading on the New York Detroit and other major ex changes To Get While the public will pay for each of the new shares the Ford Foundation owner andseller of the stock will receive a share The difference goes into dis counts andcommissions paid to the underwriters and investment dealers The total of such discounts and commissions on the mammoth is sue will be reducing by that much the net return to the sellers The public will pay a total The Ford Foundation intends to reinvest in securities so that its income will no longer depend solely on earnings of the Ford Company The foundation is charitable trust with the stated aim of ad vancing human Welfare i The Ford Co has said its rdlrec tors intend to declare a dividend of 60 cents a share in the first quarter of this year If this dividend should be continued quarterly a share of stock svould yield the investor annually Guessing Game Based on a annual yield the investor would receive a little more than per cent on his money put in Ford stock Tuesdays filing ended a nation wide guessing game as to the of fering price Most recent guesses have ranged between and The figure finally chosen prices the new shares at a level roughly relation to recent Motors and Chrysler common stock President Henry Ford n in a recent statement apparently prompted by the extraordinary pre sale demand for a piece of the pioneer auto firm told investors they should not expect quick riches He said the industry is hotly com petitive and he is reasonably sure auto production and sales this year will not match the record of nearly eight million cars set in 1955 Nevertheless investment firms have reported a demand so great that a top limit of 200 sharas a person has been set At the outset only 100 will be permittee to a cus tomer Many investment firms are rationing the shares at two or three to the customer Final Quarter The amendment did not estimate Ford profits in the final quar ter of 1955 Earnings in the first to a share A sizable block of the UVVJ Ford shares will be reserved for Ford dealers and employes and P marked for block sales to invest ment trusts and institutional in vestors Another block will be made available to foreign inves tors The shares to be placed on the TRAVELIN FOOD Muff is handfed by Fred Loomer 829 Carolina dog belongs to Harry Son dergaard who used to live next door to theXooniers They moved to the SchermerKorn farm last December but Muff travels the four miles every Sunday to eat bacon and eggs with syrup with the Loomers The dog not only knows the way but he can also tell what day it is What Day of the Week It Sunday By DRAKE MABRY Dogs arent supposed to be able to keep track of the days of the week but onWwould have a hard time convincing Fred Loomer of that Fred and his wife live at 829 Carolina Until Dec 1 Harry lived across the street at 905 Carolina Hairy his wife two children and an emotional dog by the riairie of fast friends of the Loomers Especially Muff Harry who raises turkeys moved to the old Schermerhorn farm on the south edge of Mason Dec 1 Theyre happy with the new n e ogs mou e m home But Muff missed his Sunto stop chewing it and take the day morning breakfast visits with he of them 1 Christmas Visit So Christmas morning who 13 ULU rrJLlrtl Ullj UUIUIC should show up at the back door but usually will go over and nuzzle of the Loomer household but Muff le traveled about fouri miles from he farm to partake of bacon and eggs with Mr andMrs Loomer The fact that hetraveled that ar isnt too surprising perhaps even though the trip away three weeks before was by car But how id the dog know it was he only day Fred is home If Muff had come only once it could be called a fluke But the bllowing Sunday New Years Day Muff was back again The next Sunday Jan 8 Mr and Mrs Sondergaard were returning from church when they glanced out the car window and saw Muff beating t down the sidewalk obviously heading toward 829 Carolina Last Sunday clinched it Muff can tell what day of the week it s Sundays anyway He was back the Loomers And he doesnt come on week days Not Thoroughbred not a thoroughbred but hes about as close as a dog could come His father was a Springer and his mother a Cocker Spaniel Sondergaard bought the dog in De corah 11 years ago When the Sondergaards first moved next door to the Loomers UCAU uuui 10 me ixjomers nine months of last year tota ing Muff had friendly traits He took 312 million dollars were equivalent 0 the Loomers and they returned he affection Now Muff has his spot in the back hallway of house d any place else W vThe Sunday morning breakfast outine has been going on for years Muff likes syrup on his eggs Sometimes when the snow was deep and the wind was market will command 60 per cent T WIP waj of the voting strength in would send ment of the company The Ford family will hold the other 40 per cent which is considered sufficient to perpetuate family control for jjears or even generations Muff across the street to the Loom ersto get a package of cigarettes Harry would tie a sack on Muffs collar to hold the cigarettes Muff fail Jealous Dog Miiff isjealous of his position In NEW PRESIDENT DES MOINES A Lee superintendent of recreation at Iowa City was elected Monday asthe house new president of the Iowa Rccre Fred has Muff trained to the Workshop Assn the dogs mouth tell him meat out of Muffs mouth Try this with most dogs and one could lose a hand Muff puts up with this routine Mrs Loomer afterwards He knows I wouldnt do that to laughed Mrs Loomer Sister Brother Act at Hospital in Mason City Coincidences are a matter of course for Gloria and Lavonne Hagen Boys were born to the sis ters just 15 hours apart at the Park Hospital Gary Allen was born Monday at 6 Mrs Irvin Hagen and Terry Eugene at Tues day to Mrs Raymond Hagen For the r e c o r d s Gary weighed 9 pounds ounces and Terry 8 pounds 8 ounces Not only are the two mothers sisters but the two fathers are brothers The mothers are the daughters of Mr and Mrs Elmer Jensen Leland and the fathers are sons of Mr and Mrs Martin Hanlontown Raymond met Lavonne on a blind date and after their mar riage lived on Irvins farm Thats where Irvin and Gloria met The Raymond Ha gens were married Nov 12 1950 and the Irvin Hagens two years later Nov 2 1952 The Raymond Hagens now are farming near Garner They have a fouryearold boy Ronald Lynn The Irvin Hagens farm near Han lontown and havea girl Judy Kay 2 by Auto Killed FORT DODGE Barbara Schalow 11 daughter of Mr and Mrs Otto w was killed Mon i aiuaiuw was Kinea won would make the round trip without day night1 when she darted into the path of a car on Highway 5 near her home jiist west of here Authorities said s sis i w viiitcrs sai point where he can put a piece of charges filed ter Diane 13 stopped in time to avoid being hit by the car driven by Lester C Ries 48 Clare Officers said there would be no Eisenhower Moves to Insure Water Reserve idgway Charge to Be Sifted Closed Talks Are Delayed WASHINGTON UPhA House Ap propriations subcommittee will in vite Gen Matthew Ridgway to ex lain what he meant when he said he Defense Department tried to pressure him to fit his views to a preconceived politicomilitary party Ridgway also said that while he vas Army chief of staff he felt he was being called upon to de troy U S fighting strength Ridgway now retired made the tatements in the first of a series if articles written for a national magazine The Senate Armed Services lommittee is expected to discuss Ridgways statements on Monday vhen Secretary of the Army Brucker appears with Gen Max vell D Taylor Ridgways suc essor The committee postponed i closed meeting Tuesday because Chairman Russell was at lome with a severe cold Some Members Committee sources rold report ers they expect some members unquestionably will invite Brucker to comment on Ridgways about the adequacy o he defense budget Ridgway said the Defense De partment tried to silence his criti cism of its and he also questioned the accuracy of a state ment made by President Eisen Rep Sifces DFla chairman of he Appropriations subcommittee handling Army funds said he vould invite Ridgway to explain he statements at his earliest Sen Mansfield DMont sug gested earlier that the Senate in quire into Ridgways statements Secretary of Defense Wilson told in New York Monday night that I cannot comment be ause I have not read the He added he regards Ridgway vho was not named to a second erm as Army chief of staff last all as a dedicated general who believes very strongly in the Old Straw Sen Francis Case RSD said Tuesday that while he has great respect for Ridgway he thinks the general is thrashing some old Ridgway had made clear some months before his retirement lis disagreement with administra tion moves to cut Army manpow er Mansfield said in a separate in erview it would be well for some Senate group to give Ridgway an opportunity to document his statements and lay the story be ore the American He said he thought the Armed Serv ces Committeewould be the ap propriate group Sen Symington DMo told the Senate Monday that Ridgways remarks showed that in the Ei senhower administration the se curity of the nation is being hrown into the market place to be traded for political advantage Losses Fire Hits at Formersburg FARMERSBURG ties said a fire which raced hrough an implement store and umber warehouse early Tuesday id an estimated damage eforc it was brought under control Fire Chief H C Muller said the Harley J Palas implement store vas a warehouse of ric Fuelling Lumber Co was badly amaged M flfl rn fn An An eft RALEIGH N C tflSome ew license plates sent to Rocky fount this year bore the prefix Motor Vehicles Commis ioner Ed Scheldt has announced hose who want to can turn in the icenses for a different tag A FLOATING SWIMMING POOLThis empty concrete swimming pool ATu3ay popped outof muddy ground at the Walter Gillis home near Sacramento and floated out in a pool of water alongside the Sacramento River Water pressure from the flooding river apparently forced the pool out of the ground Hawkins New President of Utilities Group Leslie G Hawkins assistan general manager of Peoples Gas Electric Mason City was elected president of the Iowa Util ities Association Tuesday at th board of directors meeting in De Moines as a vicepres iderit of the organization the pas year The retiring president is J T Schilling of the Iowa Power Light Des Moines Other officers elected for 1956 are Carl A Hummel Interstate Power Dubuque first vice and Robert Greenleaf Southern Utilities Center ville Iowa Utilities Association is com prised of the major investorowned electric and gas utilities operat ng in Iowa Membership includes Depples Gas and Electric Mason City Interstate Power Du buque Iowa Southern Utilities Jenterville Iowa Power Light Des Moines Iowa Public Service Sioux Hty IowaIllinois Gas Electric Davenport Iowa Electric light Power Cedar Rapids Jnion Electric Power Company of Missouri Keokuk Sac County Electric Sac City and the Council Bluffs Gas Council Bluffs InMason City Hawkins is also of the school board and treasurer of the YMCA He is a past president of Rotary Club and a past master of Benevolence Lodge 145 and and has served campaign chairman of the Cerro Gordo County Chap ter American Red Cross and as cochairman of the general com mittee of Mason Citys Centennial elebration Mr Hawkins live at 954 6th Place Their daughter Beverly is in her third year at owa State College and son Tom n 9th grade at Roosevelt Junior High School Ligh t Snow Covers Much of State DES MOINES snow vas drifting lazDy across Iowa Tuesday through weather which though frigid wasnt quite as cold as had been forecasj The Weather Bureau said the outlook was that the snow would continue Tuesday and Tuesday night and that temperatures would varm slightly over the western ounties but would be a little cool T in the east Tuesday night and Wednesday A blanket of low clouds over the state prevented temperatures Mon day night from falling as low as had been forecast The state low early Tuesday morning was three below zero at Mason City and other lows ranged up to 14 at Davenport News Conference Called for Thursday WASHINGTON ident Eisenhower will hold a news conference at a m CST Thursday the White House announced Tuesday If will be his first White House news conference since last Aug 4 before his heart at tack fied wintry weather in New York City A strike of fuel truck drivers went into its second day cutting off 60 per cent of fuel oil supplies and nearly all coal deliv eries for heating purposes in the big town The strike came in the midst of a January cold spell with temper atures expected to dip below freez ng Tuesday night Mayor Robert Wagner and other officials recom rAII About The Weather Mason City Cloudy with intermit tent light snow ending early Tuesday night Wednesday most ly cloudy high 812 Low Tues day night 26 owa Cloudy Tuesday night and Wednesday with light snow Tues day night and in southeast porf tion Wednesday Slightly colder northwest portion Tuesday night and Wednesday Low Tuesday night 5 west 15 east High nesday 1218 MveDay Iowa Temperatures will average near normal for the next five days Wednesday through Sunday Normal highs 25 north to 33 south normal lows 7 north to 14 south Slight temperature rise through the middle of the week colder and warmer again over the veekend Precipitation will total one tenth inch or less occurring as light snow or snow flurries Thursday night or Friday and again around Sunday Minnesota Cloudy cold LESLIE G HAWKINS SNOW Globe Gazette weather data up to 8 Tues day Maximum 6 Minimum 3 At 8 5 Precip trace YEAR AGO Maximum 18 Minimum 4 essage Sent to Congress 20Mbhths Study Ends California and Florida Feel Hot Sun Again By UniteS Presv Sunshine broke through ovet Cali fornia floodlands and frostbitten Florida Tuesday But manmade troubles intensi WASHINGTON President Eisenhower Tuesday submitted to Congress a longrange program to overcome the nations growing wa Jer shortage and insure a supply of 350 billion gallons a day by 1975 In a special message to the House and Senate Eisenhower forwarded a report on water re sources policy prepared by a Cab inet committee after a 20months study It sharply criticized lack of cqoperation and coordination among federal agencies dealing1 with flood control irrigation and other water problems It also called for local govern ments and private industry tobear more of the costs of furnishing an adequate water supply The report warned that the na tion is experiencing the first symp toms of a water shortage which will grow steadily more acute un ess farsighted action is taken Increased Water It said the country is now using 200 billion tallons of water daily and will need an estimated 350 bil lion gallons daily by 1975 The policies we adopt for development of our water re Eisenhower said will mended heat conservation meas ures including the early banking of furnace fires in the citys myriad apartment houses Dike Still Holds Across the nation in California iright hot sunshine dried out flood ands and increased hopes that a soggy dike would prevent a new orrent at beleaguered Yuba City The dike holding back the Feather Hiver was so soft it shook like a bowl of Officials said the dike was beginning to dry in the sun but evacuated residents were varned not to return to their iomes Elsewhere in northern California weekend floods were blamed for four deaths President Eisenhower extended a disaster proclamation ssued during disastrous Christmas veek floods include new areas 13 Dead There was another sad account ng under way in Florida where he states worst cold wave in 61 years took 13 lives and more than 50 million dollars in crop losses The 10day cold wave ended Mon day and Floridas famed sunshine varmed touristjammed beaches again But farmers said the final cost of the big freeze was yet to be have a profound years upon our cultural and industrial The report said Americans now use an average of 145 gallons of water each day from public water supplies This tremendous need is expected to rise by 1975 to 175 gallons a day reflecting the in creased use of water in homes for such purposes as air conditioning On top of this household use there is the staggering demand for water in industry and agricul ture For example the report noted it requires gallons of water to produce one ton of steel Counting such uses daily consump tion amounts to gallons per person Already it said shortages of water fordomestic and agricul tural use are frequent Industry is finding it increasingly difficult to locate adequate water supplies Many streams are seriously pol Too Much Water While too little water is the problem in many areas the report noted others are occasionally de vastated by too the form of floods Lack counted All of the Florida deaths were lamed on gas fumes or fires from aulty heaters The worst tragedy occurred Monday in Miami when as fumes killed six persons Dewel in Request for Nomination Papers DES MOINES Duanc E Dewel who last week aid he would not be a candidate ither for governor or lieutenant overnor asked Secretary of State lelvin Synhorst Tuesday for nom nation papers Synhorst said he presumed Dewel will seek re lection The request merely asked or nomination papers without esignating the office for which Dewel will be a candidate OCONNOR TO WED LAS VEGAS Nev WVEntertaln r Donald OConnor announced londay that he and Gloria Noble nonprofessional will be married of adequate planning threatens to impose a water scar city which can become a limiting factor on the growth of some of our cities while at the same time flood damage in many areas con tinues to be The report endorsed a number of controversial Hoover Commis sion proposals including the ap pointment of a toplevel water coordinator who would represent the President in overseeing the work of all federal agencies con cerned with water The committee which prepared the report was appointed by the President in May 1954 Members included Secretary of Interior Douglas McKay Secretary of De fense Charles E Wilson and Sec retary of Agriculture Ezra T Ben son Eisenhower said he will submit legislation later to carry out rec ommendations in the report SAME M Ulacfc Hit meant Z4 feturi ft   

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