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Mason City Globe Gazette: Wednesday, January 18, 1956 - Page 1

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   Mason City Globe-Gazette (Newspaper) - January 18, 1956, Mason City, Iowa                                North Iowas Daily Newspaper Edifcd for ON CITY GLOBEGAZETTE THE NEWSPAPER THAT MAKES ALL NORTH 1OWANS NEIGHBORS VOL LXII fntt VMS United foil Wirei Seven CenU t Copy HOME EDITION MAKE EVERY DAY SAFE DRIVING DAY Big Trade in Ford Co Stock Goes on Sale First Time NEW YORK price o Ford Motor Co stock Wednesdaj soared past the marl in the frenzied overthecounter trading This was a big premium over the original offering price of a share for the shares o Fordcommon stock report demand is sim ply They quoted the stock at and they are willing to buy and sell it at The stock officially went on sale Wednesday morning through z giant syndicate of 722 investmen banking firms The group is com mitted to sell the stock at to those lucky investors who have been allocated shares Big Profit But thousands of persons who left the cold when stock was originally allotted to investors across the country are of fering Fords new stockholders a big profit if theyll sell Brokers say people who never owned stock before are competing with seasoned investors in the rush to buy a chunk of the motor empire The avalanche of orders actuallj started Tuesday when the Securi ties Exchange Commission gave the investment banking firms authority to sell the stock at a share Withina few minutes after the SEC action brokers in Canada and the United States said they were swamped with calls from investors who missed out on the original sale but who were willing to pay as much as or more for the stock Thus Fords first stockholders had a profit of more than a share even before they owned any MASON CITY IOWA WEDNESDAY JANUARY Paper Consists ot Two One No W Early Calls The underwriting syndicate said it expects the shares which it is selling for the account of the Ford Foundation will be gold out quickly AH the shares i have been allotted to stockholders who got their calls in early Demand for the stock has been torrid ever since the foundation first announced plans to sell part ofits Ford Motor Co holdings in November But with demand so far in ex cess of the supply many persons had to be turned away by harried brokers Investors asking for 50 and 100 shares had to settle for five or 10 shares They will try to buy more in the overthecounter market The average sale is esti mated at around 20 shares Charles of BIyth which heads the syndicate said the shares are being sold in all 48 states Canada and 20 over seas countries Mason Cityans AllotedOnly 100 Shares Mason Cityans were wiliing to buy nearly a quarter of a million dollars worth of Ford Motor Co stock but had to be content with a mere worth Lamson Brothers and stock brokers in Mason City reported Wednesday that they placed orders for about shares of the stock They received a quota of about 100 shares The Ford stock was priced at a share Put on Market A spokesman for the firm said that as soon as the announcement was made late last year that Ford would put its stock on the open market people started calling vant ing to buy the stock The firm quit taking orders about two weeks ago because they were way The first order placed was for 500 shares Several other big blocks of stock were also in demand Interest Creattd The firm said many orders were received from people who wouldnt ordinarily buy stocks It his cre ated quite an interest in the stock said M J S Powell manager of the office Maybe tome of the people who didnt gei in on Ford will take an interest in some other v The Ford stock was rationed out to buyers in Mason Citysimi lar to the method brokcrag houses throughout the United States were rationed TANKER tanker full cargo of130 000 barrels of gas kerosene and fuel oil Wednesdayex plodes with tremendous force at the Cities Service Re AP Wirephoto finery dock at Lake Charles La The blast rocked the com pany s docks and set two of the loading stations on fire At Least 19 Dead htShip Blast Four Persons Lose Lives in Iowa Crashes Snow Blamed in Part for Wrecks By The Associated Press Four persons lost their lives Tuesday in two separate accidents on Iowa highways blamed in par on snowy weather The dead Miss Elizabeth Nixon 42 head of the English department at West ninster College New Wilmington Mrs Florence Nixon 54 Omaha ler sisterinlaw Donald Norton Los Angeles Calif South of Carroll Dawn Norton 6monthold daugh er of Mr and Mrs Donald Nor on Norton and his daughter were njured fatally in a near headon collision on 71 three miles outh of Carroll Nortons 34year ild wife was hurt severely and his iister Lillian and brother Victor iuffered lesser injuries The Nortons were enroute to rrost Minn when their car col ided with one driven by Theresa Agnes Bock 20 Earling Iowa Miss Bock was in very critical con dition at a Carroll hospital Wed nesday Visited Relatives The two women Miss Nixon and ier sisterinlaw were killed in a wocar collision on Highway 2 ibout a halfmile east of Bedford trs Nixons husband Glenn 55 nd H F 64 Bedford armer who was driving the other ar were injured Ferguson was aken to a Clarinda hospital and Wxon was removed to an Omaha hospital Mr and Mrs Nixon were ac ompanying Miss Nixon back to ennsylvania after she had vis ted relatives in Sioux City and Le Wars Miss Nixon was appointed ty the State Department last tune to supervise instruction of oreign radio and television spe iaiists visiting this country rAll About The Weather Mason City Cloudy through Thurs day Light snow ending Wednes day nifintSlightly colder Wednesday night low zero to 8 above High Thursday 1015 owar Considerable cloudiness with cnange in temperatures Wednesday night light snow cen tral and east Thursday partly cloudy west cloudy east with oc casional ligat snow extreme east colder southeast Low Wednes day night 05 below northwest 15 22 southeast Minnesota Continued cold Globe Gazette weather data up o 8 Wednes day Maximum 16 Minimum 8 At 8 8 Precip 2 snow fEAR Maximum 23 Minimum 15 Young Texas Polio Victim Gets HIS EAGLE BADGE CORPUS CHR1STI Tex WKIn a special televised Boy Scout court of honor Toby Craddock 16 who has been a polio victim since he was three received the Eagle Scout badge Tuesday night Toby son of Mrs Betty Craddock walked 20 miles on crutches to qualify for the badge Polio left his legs paralyzed Toby completed five 10mile hikes plus the 20mile hike He also swam 500 yards instead of the 150 yards required for the badge and doubled up on his water rescue yardage HOPE TO CUT ROAD TOLL To Concentrate Patrolmen at Trouble Spots Around State DES MOINES W Temporary concentration ofstate highwaj patrolmen in accident trouble spots throughout the state will begin about Jan 23 Patrol Chief David Herrick said Wednesday A11 of the 225 members of the patrol are undergoing retraining and will complete their work intime to start the new project It is a part of a new fourpoint states traffic accident toll Herrick said the size of the patrol force used in the concentrations will vary with need But it may be as heavy as 15 cars operating con tinuously over a 15mile stretch of highway where the accident record has been particularly he ex plained The purpose will be to save lives by literally smothering the accident rate in that Herrick continued Enforcement will be strict but Herrick said the length of time a patrol force will be concentrated in an area will vary from a few days up to two weeks or as long as necessary to get results He said from 10 to 14 concentra tions probably will be in effect in different areas at the same time There will be no advance warning of when or where the patrol will appear in force There will be no special patrolmen a selective enforcement group Patrolmen for a concentration drawn from the patrol district or patrol area in which the trouble spots exist Herrick acknowledged that sev eral concentrations in different parts of the state at the same time would reduce the number of patrol men in other areas He said patrol men left in those areas would lengthen their normal patrol runs Airliner in Safe Landing Despite Lack of Electricity NEW YORK airline pilot flying through snow and fog with out lights radio or navigating in struments brought his plane with 24 persons aboard to a safe land ing at La Guardia Field Tuesday night Pilot Robert Francis 37 had only a magnetic compass to guide him and a flashlight to see it on a flight from Boston Behind him in the darkened cabin his passengerssat through the frightening ordeal in prayer ful quiet The electrical system of the twinengine Northeast Air Lines Convair failed about seven min utes after it left Boston at p m The plane was plunged in dark ness and there was no way for it to contact ground stations or re ceive guiding signals Francis a flyer for nearly 20 years watched the compass by the light of his copilots flashlight He landed with less than an hours gasoline supply at two hours and 22 minutes late Fuel Tanker Explodes at Lake Charles Two Loading Docks Are Set on Fire LAKE CHARLES La Service Oil Co workers Wednes day wearily battled swirling flames and choking smoke thai may conceal the bodies of at leas 16 seamen in a blazing tanker Loaded with a full cargo of 130 000 barrels of gasoline kerosene and fuel oil the tanker Salem Maritime exploded late Tuesdaj night A crew of 41 was as signed to the vessel Cities Servic officials did not know how man were on board at the time of the blast Three Bodies Firefighters picked up pieces of three bodies Wednesday morning St Patricks Hospital treated eight seamen one in serious condition A Cities Service worker also was Durned seriously A spokesman for Cities Service which owned the tanker estimated he missing at 20 A seaman who had been on board before the ex plosion putthe figure at 16 The Salem Maritimes blast set wo loading docks afire at the Cit ies Service plant The ship and the docks accord ing to the company were a com plete loss No damage estimate was given Douse Flames About workers attempted io douse the fire and succeeded in confining the flames to the sbip and docks away from the huge adjoining oil refinery Crewman John Klepadlo one oJ three men rescued by a tug said ie was standing on the fantail of the ship with two other men but was unable to give any account of them after the blast Klepadlo said Anybody who was on that ship after I left it just wont be around to talk about Officials said tugs and other boats combed the river for pos sible survivors Robert Franci Pis afterhe brought his Northeast Airlines plane down through1 a snowstorm to ar the oradio gSnce Left are Eve Weitz a passenger copilot Louis Balestra Francis stewardess Bar bara Crowlex and passengers Jerry Perron and Norman Lay ton Rioting Again Hits Bombay Building Boom to Continue Picture in State Good By The Associated Press Steady work and high wages are the outlook for Iowas construction workers in 1956 as the building boom started in 1954 continues an other year The states top construction ex ecutives all are looking forward to a banner year fully as good or bet ter than 1955 A large share pre diet overall construction activity From 5 to 15 per cent better than last year There are solid indications tha me building will continue at a high rate and that expansion o present industrial plants and loca tion of new ones in Iowa will run construction in these fields to 1955 evels or above More Road Work Highway builders too are cheered by the announced program of the State Highway Commission calling for in primary road construction this year The chief question marks in th picture deal with the farm pric situation and developing shortage in steel and cement Leading to their optimistic home builders list these factors 1 Kobert J Richardson pres dent of the Federal Home Loa Bank of Des Moines says 1956 wiJ be the best year in history in horn financing despite loan curbs ap plied by the Federal Reserve Sys em and Federal Housing Admin istration 2 Iowa Employment Service offi cials say there has been a con stant and steady growth in over all employment in Iowa during 1955 and they expect the trend to continue this year 3 lowans went into the new year with more money in savings ac counts and savings bonds than ever Defore It is expected that some of hese savings will go to buy new lomes Top Year Highway contractors according to a spokesman for the Associatec eneral Contractors of Iowa are ooking for a top year as far as he availability of work is con But the spokesman says a cement shortage could hamper heir operations and that indica Ions are competition for jobs may be stiff The very cement shortage that was such a bugaboo to the highway builders in 1955 will help swell the ndustrial construction total for 1956 A number of cement companies n Iowa already have announced big expansion programs the larg est being a 12 million dollar en argement at the Lehigh Portland Cement Co plant in Mason City New electric generating plants such as the 12 million dollar fa cility planned by the Iowa Electric ight and Power Co at Marshall own and new telephone buildings planned by Northwestern Bell Tele phone also will keep thousand workmen busy The livestock price situation may have an adverse effect on expan sion in some industries closely connected with agriculture con struction men say But some of hese industries may go ahead vith work held in abeyance in the ast half of 1955 if the price situa ion is resolved in time Kekkonen Emerges on Top in Finnish Vote HELSINKI Finland CUP Pre mier Urho Kekkonen a friend of Soviet Russia Wednesday emerged rom Finlands presidential elec ions as the nations most powerful olitical figure He is almost cer ainto be elected president next month Kekkonens Agrarian Party jained the most votes and the most eats in the electoral body which rill name a president Feb 15 on he basis of final unofficial results rom the twoday elections AP Wirephoto SURGERY threemonthold English setter sits dejectedly in the arm of Dr W F Stack Syracuse N Y veterinarian after a 9inch xylo phone hammer was removed from his stomach The doctor needed only 45 minutes to com plete surgery on the dog who measures only 19inches long from nose to tail Earl Long Is Easy Primary Vote Winner NEW ORLEANS W Former Gov Earl L 6 n g Wednesday stormed down the comeback trail to landslide Louisiana governors race ing the administration of pro Eisenhower Gov Robert Kennoa in the dust Mayor deLesseps Morrison of New Orleans the only candidate in the fiveman field in the De mocratic primary who could have forced the race into a Feb 21 runoff conceded at Building his lead constantly as late rural returns trickled in the 60yearold Long rolled to ward the majority vote needed to avoid a runoff with the sec ondplace candidate Unofficial returns from of the states p r e c i n c t s showed Francis Grevemberg Earl Long James McLemore deLesseps Morrison Fred Preaus The Republicans did not hold a primary tonominate a governor Thus Longs victory assured him an unprecedented third stay in the 45room mansion that his brother Huey built Snow Continues to Fall Around State15 Is Low By The Associated Press Light snow was falling over mos of Iowa Wednesday as teethchat ering in the north vest section of the state The Weather Bureau said th now would continue most of the day in most areas and the centra and eastern sections could expec more snow Wednesday night Temperatures were largely ibove zero in Iowa Tuesday nigh aut Sibley reported an unofficia ow early Wednesday morning o 5 below zero Other low anged from 2 above at Sioux City o 24 at Davenport and Dubuque Highs Tuesday varied from egrees at Sioux City to 29 at Dav nport Mason City has had two inchc f new snow since Tuesday build ng the threeday accumulation in hat area by Wednesday morning o eight inches Plan of Nehrus Army Units Standing By BOMBAY India M Police opened fire again Wednesday on vaves of rioters protesting Prime Nehrus plan to sever this Vest Coast metropolis from Bom bay State At least 4 of the dem onstrators were killed bringing he death toll in 3 days of vio ence to 10 in Bombay State Indian army units were ordered o stand by and a 24hour curfew vas clamped on the big industrial sector in the northern part of the city Various other parts of the city were put under dusktodawn curfew At least workers in the city of nearlythree million people answered a call by leftist unions for a general strike to reinforce demands that the city become the capital of a new Marathispeaking state Police jailed one of Indias lead ng Communists Dange as ic arrived by plane from New Delhi He is vice president of the Reddominated World Federation of Trade Factory Area held of the factory area until police and special armed units drove them put with shots tear gas and club charges Yelling stone throwing mobs ranged the streets They felled trees to barricade highways and hurled stones at passing trains buses and cars Streets were littered with brok en glass wood and debris By noon the fire brigade had answered 49 calls in 14 hours but no big build ings were reported attacked Downtown Bombay was deserted with business virtually at a stand still Shops which opened were looted Police barricades kept the mobs out of the waterfront area where most hotels used by foreigners are located American Evangelist Billy Graham was at one of the hotels The rioters burned an effigy of Bombay Chief Minister Moroarji Desai at one railway station and hanged another They scheduled a funeral for the latter corpse and told their followers to come with all your old shoes to be used in dishonoring the effigy Thousands carried placards Tues day proclaiming death to Nehru and hung garlands of old shoes over his pictures Dozen Languages The violence protested extension to Bombay of the Nehru govern ments plan for reorganizing state boundaries in accordance with the distribution of the countrys dozen major languages The Central Government an lounced Monday night that Bom jay State would be split between the Gujeratis who speak Mohan das Gandhis tongue and the Mah rattas who speak Marathi The City of Bombay whose pop ilation is divided about equally etween the two language groups s to be a separate state under di rect federal administration from ew Delhi Marathispeaking demonstrators aunched the campaign of violence lemanding that the city be the apital of their state In similar iots they staged last Nov 21 12 persons were killed and 2UG rounded In New Delhi official sources aid Nehru would not attempt to alt the wave of violence swecp ng Bomb and other cities in Bom ay State by a personal visit be ause that would dignify the un uly elements who are responsible or the SAME BUrV traffic dralh In past n hnnmj ITS NO YOKE DUNSTABLE England truck loaded wilh 10 tons of ggs skidded on ice crashed irough a barrier and plimscd own a 30foot embankment ay Not an egg was broken   

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