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Mason City Globe Gazette Newspaper Archive: January 16, 1960 - Page 1

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Publication: Mason City Globe Gazette

Location: Mason City, Iowa

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   Mason City Globe-Gazette (Newspaper) - January 16, 1960, Mason City, Iowa                                North Iowas Daily Newspaper for the MASON CITY GLOBEGAZETTE VOL tt The Newspaper That Makes Alt North lowans Neighbors Assodited PTCM ftrtenntlonrt FuB LMM Wlrei MASON CITY IOWA SATURDAY JANUARY U I960 Copy Paper CouiUU of Two Business is fine thank you But trend often unpredictable in an election year By RICHARD SPONG Editorial Research Bureau WASHINGTON Prognosti cators who filled newspaper col umns on New Years with rosy business prophecies for 1960 hac politics and tradition going for them as well as more specific indications of high production and consumption Ordinarily business is as sumed to prefer a Republican administration to a Democratic administration a Republican Congress to a Democratic Con gress Its too early to make any predictions about control of the next Congress but certainly Richard M Nixon has to be ac counted the frontrunner for th presidency presidential election historically are good one for both business and the stocl market Most business indi cators for 1956 for example gross national product nationa income farm income industria production except for a shar midyear break showed steady rise STOCK PRICES moved les evenly in 1956 but even thoug the late summer and autumft de veloped a long slide the com posite index graph turned u sharply immediately after th elections and at the end of th year the level was well abov that of early January Traditionally the market rises in summer A recent survey shows aworthwhile advance in industrials from June lows in 38 of the past 42 years and an up swing in rails in 39 of these years But in presidential years the summer movement is less pre dictable About half the time the pattern is a downward or sidewise movement prior to the nominating conventions Wall Street hates uncertainty and an upward movement between the conventions and election day Normally of course the stock market is expected to anticipate political trends and to discount them It failed to do this in 1948 and the unexpected victory of President Truman in that year I Shady dealings Bomber suspect had tangled background NEW YORK Authorities are piecing together the tangled background of JuHnn Andrew Frank the heavily insured young lawyer suspected of set ting off a suicide bomb in a plane that crashed with 34 per sons aboard The Manhattan district attor neys office pictured Frank as a man enmeshed in dealings that could financial have wrecked his promising career Friends saw him is n tall lean man with a pretty wife ami two handsome children who lived in an expensive suburban home a man who could be as Regents oppose oaths 51 RUSSIAN SHIP NEAR ISLANDS A U S Navy patrol plane looks over the Russian ship Chukotkh one of several merchanttype vessels equipped with considerable electronic gear which have been ob AP Photofax served in the Pacific This one was picked up at a point 700 miles south of Midway Island Theyre be lieved out there to record the test firing of space missiles during the next 30 days Nixon opens his campaign IkeVpolicies would be mine MIAMI BEACH Fla Mi Vice President Richard M Nix on has opened his campaign for the presidency with a warning against any defense cuts and a ledge to continue the Eisen lower policies and build upon hem if elected The policies of the Eisen loweradministration have been constructive he said They lave worked and they are firm foundations on which we can Duiid If elected I promise I caused stock prices to sharply after the election fall HERES HOW THE market has reacted in the 15 presiden tial election years since the turn of the century Before conventions Up times down 6 change 2 times times little will try to implement and build upon them His stand was enunciated Fri day night at Gainesville before an audience at the University of Florida which frequently ap plauded his statements on such issues as civil rights national defense and federal aid to edu Nixons appearance on a uni versity panel program was billed as nonpolitical but Fridays ac tivities in the populous Miami area were slrictly political The chartered plane carrying the vice president and his party on his first trip since he became an official candidate arrived in Miami shortly after midnight At Gainesville the vice presi dent used his strongest words in urging that there be no cut backs in manpower becauseof an announcement by Soviet Pre mier Nikita Khrushchev that the Soviet Union is so strong it will cut 1200000 from its forces Between conventions and eiec tions Up 8 times down 3 times little change 4 times After elections Up 8 times down 7 times The business community looks to the steel industry for much of the justification of a prosper ous outlook for 1960 Many ex perts view the longest steel strike since World War II as only slowing down the boom And even before the settlement Steel magazine was predicting a scramble for steel by manu facturers that would last through the first half of 1960 at least A more recent conserva tive estimate puts steel opera tions at 95 per cent of capacity for the first six months The only major cloud on the economic horizon is the possibil ity of a railroad strike during the spring Lower farm prices and lower farm income will be a drag on the economy and dear money will slow up hous ing starts But industry in gen eral is expected to purr Indeed the unanimity of busi ness forecasters is found a bit terrifying by Malcolm P Mc Nair a Harvard University economist Warning of the possi bility of a really severe busi ness setback in the early years of what already are being called the Golden Sixties McNair told an audience recently that some of the clouds that are beginning to gather may begin to cast some darkening shadows by 1961 or even possibly late I960 FATEFUL TOPIC FORT COLLINS Colo UPI Colorado State University an Mercury in decline but rise seen Temperatures tumbled to near or below zero over all of Iowa except the extreme south east Saturday morning But the indications were that a turn for the better was in the making Overnight lows ranged from 13 below zero at Sioux City to 16 above at Burlington Mason City had 1 above But the snow and rain had passed skies were sunny and southerly winds re turned However the Weather Bureau said another storm center was developing in sout h western stales and it could bring some mow to Iowa late Sunday Saturdays highest tcmpera ures were in the 20s in all sec ions of the state Top readings Friday varied from 19 degrees at Sioux City to 32 at Burlington and Waterloo The expectation was that Sun days lows would range from 10 to 18 degrees The Iowa Highway Commis sion reported that highways in owa were normal north of a iine from Sioux City to Hum boldt to West Union and south of a line through Red Oak In dianola Iowa City and Daven port Between these two lines the commission said highways were generally snow packed and 20 nations give thei I to Space Warn NICE France entistsfrom 20 countries Sat urday ratify a new stream lined satellite and rocket tracking system known as Space Warn The system calling for close cooperation between Russia and the nonCommunist coun tries in tracking space shots the moment they are fired was approved by the executive committee of the International Space Conference The conference attended by 280 scientists ended Saturday A Polish astronomer said the conference showed that the West is realizing that space is a political problem SET FOR LIFE OAKLAND Calif itfi Ev erett Moody 84 and his wife Blanche 78 returned their Janu ary relief checks to the county welfare office after learning they had inherited The couple had been on relief 17 years Chances long for oil strike in Cresco area IOWA CITY Geolo gist H Garland Hershey said Saturday thatjhe chances for a commercial oil strike in the Cresco area are quite long He said also that past studies of his office in the Cresco area have indicated no petroleum in quantity and he added Other wise it would have been discov ered long ago A Nebraska oilman has said to strike oil near he expects Cresco Hans Jesperson president of the H and L Oil Co Omaha re plied to Hershey by saying that He said that under no cir cumstances should the United States and its Allies reduce their strength He said Khrushchev no doubt reasons for the cutback and that Khrushchev may have been influenced by some internal problemsuch as the need to re lieve manpower to accomplish the Soviet sevenyear plan Or Nixon added the cutback may stem from the strategy that ground forces are no longer needed because of newtype weapons NIXON WAS ASKED whether e agreed with a Civil Rights ommission recommendation for legislation authorizing ap pointment of federal registrars in cases where state registrars refuse to register voters be cause of race He replied that the adminis tration had not formulated a pol icy on this proposal but that the question had been raised whether it would be effective and whether it would be consti tutional If it does not prove effective Iam sure the administration will have an alternative which will be designed to accomplish the same purpose he said Nixon said he opposes federal aid to education DES M01NES fft The state board that supervises Iowas three taxsupported schools was on record Saturday as opposing the requirement for loyalty oaths from students applying for federal educational loans The schools are the State Uni versity of Iowa Iowa Slate Uni versity and Iowa State Teach ers College The Board of Regents took its stand on a 51 vote Friday aft er a discussion of the loyalty oath prescribed by Congress for students applying for loans THE REGENTS however made no move to withdraw the schools from the student aid program as some other univer sities and colleges in the coun try have done Grinnell College a private school in Iowa is one North Iowa increasing cloudi ness Saturday night and Sun day with snow likely Sunday Not quite so cold Saturday night low 1018 High Sunda upper 20s Iowa Increasing cloudiness Sal unlay night and Sunday will snow beginning west portio late Saturday night an spreading over most of th stale Sunday possibly bccom ing heavy extreme south lat Sunday Not quite so col north and west Saturday nigh Low Saturday night 1018 High Sunday 20s northwest t around 30 southeast Oulloo for n v Cloudy a n appygolucky as he could be arkly brooding and a man ilh a horror of planes and a trangc predilection of death The district attorney said rank 32 was facing investiga ons of two complaints allcg invoiv ng a Manhattan real estate ransaclion and the other re arding n loan for a hospital larch alleged that Frank had nisuscd from a property ale he engineered for a client pocketing part of the money limself The New York Bar Assn was notified of the mat er The criminal investigation was iicld up aflcr Frank had posted to await the outcome of egii proceedings About a month ago attorneys John J Fallen of Kansas City Mo and Daniel P Reardon Sr of St Louis complained that they had not heard from Frank since they turned over to him several thousand dollars as an advance fee for a loan he was to obtain toward a two milliondollar expansion project jil Christian Hospital CONVICTION ON the charges could have cost Frank his right to practice law Insurance man Edward Boyd Jiv a fricml in colder with possible snow flur ries Minnesota Mostly cloudy a little warmer 1525 Highs Sunday GlobeGazette weather data up to 8 am Saturday of those which have refused 10 participate in the loan program because of the loyally oath The move that the regents go on record was made by board member Mrs Joseph Rosenficld of DCS Moines Voting for her motion were Board Chairman Harry H Hagemann Waverly Lester Gillette Fostoria Arl A Dreb enstcdt Burlington and Mrs Robert Valentine Centerville REGENT MAURICE B Crabbc Eagle Grove opposed the motion Regents Arthur A Barlow Cedar Rapids and Al fred W Noehren Spencer were absent Mrs Kenneth A Evans Emerson refused to vote In support of her motion Mrs Rosenfield said Youre still innocent until proved guilty in this country She said students applying for loans are just bor rowing money and they wouldnt ave to sign any loyalty pledge they went to a bank Crabbe and Mrs Evans said iiat signing the oath does not urt anything and Crabbe add d Id be willing to sign it Maximum Minimum At 8 am YEAR AGO Maximum Minimum 27 1 1 3 8 On the inside North Iowa News Page 3 Editorials 4 Clear Lake News 5 Church News 7 Society News 8 Sports 910 Maroon Blue 11 Mason City News 1213 Comics 14 Building News 15 his findings still indicate oil in quantity enough for production He said recently he hoped to be producing oil on the George Nie wald farm by March NEW PRESIDENT DES MOINES UP Methodist Bishop F Gerald Ensley Des Moines was elected president of the Iowa Council of Churches Friday He previously had been first vice president icy Honor system vetoed at Momingside SIOUX CITY side College students have re jected an honor system which would serve as a barrier against cheating on tests In a vote Fri day a majority of about 800 of the schools 1000 students who voted decided to turn down the plan A 67 per cent majority was required to pass the pro posal but it could get only 493 per cent of the votes Included in the proposal was the change from having faculty oversee ex aminations to student proctors FESS TO WED SANTA BARBARA Calif nounced Saturday that one of Parker 35 who the topics of discussion at its annual sawmill clinic will be After Then became known as televisions Davy Crockett will marry Mar cy Rinehart 31 Tuesday AP Photofax SPOUTING AGAIN Lava shoots into the air and forms a broad fiery river on Hawaii Island as Kilauea volcano continues to erupt Some 300 nearby villagers were evacuated as the lava burst from fissures on the slope and flowed toward the ocean IT LOOKS GOOD on paper but it wont work he said I believe that situation is and hould rcnain a local and stale csponsibility Replying to a question whetb r the Democrats or the Repub icans could best preserve the eace Nixon said this could est be answered by the fact hat there has been peace broughout the seven years of he Eisenhower administration Nixon defended the steel strike settlement in which he ilayed a key role He said it had ecn accomplished without price increase and that if it hac not been arrived at there vould have been grave danger hat collective bargaining woulc lave been irreparably damagec in an election year Conductor killed at Marquette yards MARQUJETTE Iowa ter Hilton 62 a Milwaukee Rail road train conductor was kille Saturday when he was run ove by a train in the yards here Railroad officials said Hilton had been coupling cars togethe to get a train ready to hea west from1 here They said h apparently fell underneath freight car as the train startei up ON PROBATION LOS ANGELES tfi Acto John Agar Friday was fine and placed on probation fo six months after pleading guilty to misdemeanor drunken driv ing SAME AP Photofax FRANKS LAWYER FRIEND Herbert Canter Miami Fla attorney is downcast as he ar rives at New York to be questioned in the activities of his partner Julian Frank Frank is the bomber suspect in the National Airlines crash Canter re portedly crawled into the wreckage of the plane for valuable papers Frank allegedly was carrying own of Westport Conn de scribed the young lawyer as a oung man in a hurry with a dynamic personality He said rrank often had expressed a ear of flying Look Im going to get killed n an airplane Boyd quoted Frank as saying Boyd said he eventually talked Frank into buying a halfmillion dollar insurance policy in No vember Frank also had a 000 accident policy taken out last April another 5100000 ac cident policy taken out in No vember and three accident poli cies of each taken out in December THE BENEFICIARIES his wife former model Janet Wagner and their children Ann Ellen 4 and Andrew Carl 2 During a hearing in Washing ton on the Jan 6 crash of the Miamibound National Airlmes DCGB neaFBolivia N S Mike JMonroncy D kla said he is convinced bomb of some sort was the ause of this disaster It seems retty pat that this bomb was arried into the washroom in he plane and set off deliberate The evidence is very strong it was a case of suicide by ombing Frank the son of a former cw York deputy police com missioner the late Aaron Frank ad been persuaded to fly to lorida for a vacation by his amily He had a round trip icket as he stood in line at dlewild airport to board a Boe ng 707 He carried a small ilue flightbag A CRACKED windshield orced the big jet airliner out of service Its 104 scheduled passengers were reassigned to wo substitute planes Seventy six of them traveled safely to Miami aboard an Electra jet prop plane Frank and 28 other passen ers boarded the propellerdriv en DCGB with a crew of 5 Searchers found Franks body on a beach 16 miles from the crash scene Also found was a small blue flight bag its bot om ripped out Investigators theorized that Frank thought the plane would be over the Atlantic when the bomb exploded and no wreck age would be found The pilot is believed to have turned back to the Carolina coast after the bomb blast unwittingly spoil ing the perfect plan for com mitting suicide without leaving evidence BULLETIN MIAMI BEACH Fla UPI FBI revealed Saturday a passenger who bought a ticket on the National Airlines which crashed into Gulf of Mexico last November may have arranged for an other man to travel for him in order to collect on a targe in surance policy The fatal No vember crash now appears similar in cause as that ef an other National Airlines in Norm Carolina last week V I   

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