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Mason City Globe Gazette Newspaper Archive: January 18, 1961 - 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 18, 1961, Mason City, Iowa                             North Iowas Daily Newspaper Edittd for MASON CITY GLOBEGAZETTE HOME EDITION The VOL 99 Associated Pnts and United Tfrtu InternationtJ Full newspaper that makes all North Iowa n s t neighbors MASON CITY IOWA WEDNESDAY JANUARY 18 1M1 Te Copy Thli Paper Consist of Four SectionsSection On No If Germanys small car s jackpot A bargain for the people By RICHARD SPONG GlobeGazette Editorial Research Bureau WASHINGTON The most appealing buy on the West Ger man stock market is the bargain the Bonn government is offering Citizens with annual income of no more than 16000 marks are being given the op portunity to purchase as many as five shares in the Nazi founded Volkswagen Works which makes those rearengine automobile beetles which are crowding the highways of Eu rope as well as the United States On paper the bargain is not immediately apparent The shares will carry a book value of each but will be sold at 350 marks However if West Germanys boom continues even at current levels rapid appreciation is certain For ex ample shares in Preussag AG a wholly stateowned mining concern which was denation alized in the same way last year are now quoted at about 70 per cent above the price at which they were originally of fered IN THIS deliberate attempt to spread the base of West German prosperity the government is giving special discounts for families and for people with income below the maximum Each of Volkswagens 60000 em ployees will be given a special bonus of almost enough to buy one share And shares may be bought in instalments over three years To enjoy these incentives however buyers must hold their shares for at least two years Anyone who ponied up as much as 990 Reichsmarks about when Volkswagen was first planned by Hitlers Labor Front was to be among the first to get the peoples car But nobody got a car out of the plant except the Wehr macht Despite the fact that the British in whose occupation zone the plant was located gave a postwar prognosis of 100 per cent negative for the Volkswagens future Prof Heinz Nordhbff General Motors trained moved into the plant in 1948 and set up a cot in his office THE RESULT now is legend Volkswagen in 1958 netted million Last year output of automobiles and trucks total ed 891067 units Exports drew off 511739 units 37 per cent of these to the United States The automotive bugs are selling as rapidly abroad as here A wait ing list is common in Germany and a grey market has develop ed from time to time elsewhere Hans Wilhelmi Bonn for federal property books thej total assets of the company at 21 billion marks Following the principle it calls peoples capitalism the Bonn government is retaining a 20 per cent interest in Volks wagen Another 20 per cent goes to the state of Lower Saxony the plant is located there in Wolfsburg The remaining 60 per cent is on public sale AP Photdfax ALLS QUIET ON CAMPUS Hamilton E Holmes 19 draws scant attention from white coeds as he walks to class at University of Georgia Holmes and Charlayne Hunter attended third day of classes as the first Negroes enrolled at university following series of federal court orders forcing their admit tance Holmes 19 is an arts and science student and plans to become a doctor N nutshell ews in a FROM OUR WIRE SERVICES BEDFORD Que Crown prosecutor Claude Noiseux Wednesday said he will charge Abel Vos burgh 63 with murder in the death of his wife and 11 childrenynfrhbsebodies werefound in their burned shanty home Dec 29 A coroners jury Tuesday night found Vosburgh sole survivor of the fire criminally responsible Vosburgh denied he caused the fire and kept his family from escaping WASHINGTON A government task force as signed to study the steel industrys labor troubles came up with one word of advice to the nation re lax The whole problem and its effects on the national economy are highly exaggerated according to the surprising findings submitted by a staff headed by Prof E Robert Livernash of the Harvard Graduate School of Business WASHINGTON House Democrats overwhelm ingly approved speaker Sam Rayburns plan to liber alize the conservativecontrolled House Rules com mittee by enlarging its membership BANGKOK Two regiments of Communist Chinese troops penetrated 250 miles through north Burma to within 10 miles of Thailand this month in formed north Thai sources said It was believed the bulk of the Red forces have withdrawn again to the Chinese side of the border where they remained poised Farewell address by Ike Struggle just begun WASHINGTON UPI dent Eisenhower told Ameri cans in a farewell speech Tues day night that the United States aces a 1 0 n g struggle against Communism and warned them not to be tempted by some miraculous solution to inter national problems The Chief Executive pledged that he would never cease to do what little I can to achieve disarmament with mutual honor and confidence He also said the world must never abandon he conference table for the certain agony of the battle field Addressing the nation via tele vision and radio Eisenhower said Americans must be pre pared for a prolonged and com plex struggle against what he ermed a hostile an obvious reference to world Communism THE 70YEAROLD Presi dent who White House lease runs out Friday when John F Kennedy moves in said there is always a temptation to meet crises with some spectacular and costly action He said big increase in de fense spending or a dramatic jxpansion in research have seen proposed as curealls But these must be weighed carefully o maintain balance in nationa aims or frustration will re sult he said In his address the President warned against domination b the armed services the arma inent industry or a scientific technological elite during th years ahead He said defense spending now is more than th net income of all corporations in this country and added This conjunction of an im mense military establishmen and a large arms industry is new in t h e American experi ence In the councils of gov eminent we must guard agains the acquisition of unwarranted influence whether sought or un sought by the militaryindus trial complex THE POTENTIAL for the disastrous rise of displaced power exists and will persist We must never let the weight of this combination endanger our liberty esses or democratic proc Eisenhower said he was leav ing office with a definite sense of disappointment because oJ the relative lack of progress in disarmament negotiations with Russia As one who has witnessed knows that another war could utterly destroy this civilization OTTUMWA Wi Eugene H which has been so slowly and North Iowa Cloudy and colder through Thursday with occa sionalsnow Wednesday night North to northeast winds 20 to 30 miles an hour Wednesday night and Thursday Lows Wednesday night 1015 Highs Thursday 1520 Ottumwa man killed by freight train IB midnight Tuesday when struck ftaa asting peace s in sight by a Burlington freight train atne sajj a crossing here Authorities said Browne apparently was trying to crawl between cars of the train halted at a crossing when the train started up Lumumba moved to another prison ELISABETHVILLE the Con go Katanga government announced Wednesday that de posed Congo Premier Patrice Lumumba and two close as sociates had been transferred to a prison in Katanga Prov ince because their army con finement near Leopoldville was not considered secure Swedish U N troops at the Elisabethville airport when the fiery expre mier arrived Tuesday said Eur opeanofficered units of the Katanga police beat the three prisoners unmercifully Lumum ba was reported badly bruised NO NEGLIGENCE SAN FRANCISCO A No criminal negligence was in volved in the Thomas Hotel lire Jan 6 which took 20 lives a coroners jury ruled Tuesday Ray Gorman 61 in whose room the fire started admitted he had been drinking just before the fire started but he testified Im on the wagontor good Iowa Cloudy and colder through Thursday with light snow east and extreme south Wednesday night North to northeast winds 20 to 30 miles an hour Wednesday night and Thurs day Lows Wednesday night 1015 north 1520 south Highs Thursday 1520 Further out look Partly cloudy and con tinued quite cold Friday Fiveday Iowa Temperatures will average 3 to 5 degrees below normal Wednesday night through next Monday Normal highs are 25 to 32 de grees and normal lows 8 to 15 Colder Thursday warmer Saturday or Sunday then colder again Monday Precipi tation will average less than 10 of an inch occurring as light snow Wednesday night or Thursday and again Sun day or Monday Minnesota Snow flurries cold er Highs Thursday 10 to 20 GlobeGazette weather data up to 8 am Wednesday Happily I can say that war has been avoided Steady prog ress toward our ultimate goai has been made But so much remains to be done Sheldon banker gives no clues as to how she used million FROM OUR WIRE SERVICES SHELDON Federal investi moved into the Sheldon National Bank Wednesday try ng to find answers to two laffling questions How a bank presidents daughter covered a abulous embezzle State bank at Sheldon kept busy SHELDON Business as usual was Sheldons goal Wed nesday in the wake of a 2 mil ion embezzlement and the clos ing of Sheldon National Bank A bit awkwardly because of the special handling needed for checks on the institution busi nessmen were pursuing usual mercantile and industrial activi ty All stores were open the na tional bank being the only ex ception BUSINESS WAS heavy at the remaining Sheldon bank the Security State headed by C L Schneider as president He said he believed all local business needs were being cared for thai the facilities of his bank had been utilized by a number o businesses formerly dealinj with Sheldon National Checks on the Sheldon Na tional are being returned to the makers he said They will eventually be paid in a major degree townspeople believe ONE OF Sheldons biggest businesses is Big Four Soybean Processing Co owned by 67 farm elevators Kenneth Mac Queen assistant manager said that it was operating as usual While it did business with Shel don National it now has opened accounts in the other bank What we and some of the larger depositors are concerned with said McQueen is whether the guarantee covers each account of an indi vidual or firm which has several accounts in a closed bank Opinion has it that the Shel don National never will reopen for regular business ment and how she spent the stolen money There was no hint of what Burnice Iverson Geiger 58 did with the cash she admitted taking from the financial in stitution headed by her father But most residents of this Dutch Iowa community stunned by the revelation of the gigan tic theft doubted that Mrs Geiger was a Robin Hood who took the money to finance her charities Mrs Geiger the kindly well liked daughter of bank presi SAME Iowa Safety Department Firures Black Flag Means Traffic Death in Past 24 Hours AP Photofax YOUNG HEALTHY NOW WEALTHY Heiress Fredericka Bobo Sigrist Juarez holds key at her 21st birthday party in London when she inherited more than million She is the only child of the late Frederick Sigrist a British aviation pioneer Under terms of Sigrists will Bobo was to get his large fortune when she reached 21 Bobo is separ ated from her husband New York interior decorator Gregg Juarez The key Lets say its the photogra phers way of saying shes unlocked the door to a wide and handsome future Adlai pessimistic about Red Chinese WASHINGTON UPI Adlai E Stevenson said Wednes day that admission of Red China to the United Nations maj De impossible to prevent and amounts to a probability at some uture date The twicedefeated Democratic presidential candidate madi he statement in testifying before senators considering his nomina tion to head the U S delegation to the United Nations in the Kennedy administration He said it would be highly optimistic to expect Commu mst China to reform if allowed into the U N Rut he added On other hand it may be im HOLY HOOD possible to prevent Stevenson denied a suggestion ST HYACINTHE Que Sen Bourke Hickenlooper Six masked gunmen whose leadinIowa in testimony before the was disguised as a priest Senate Foreign Relations Com ooted a credit union of an esti mated Tuesday He likes em but Ike says goodbye to reporters FROM OUR WIRE SERVICES WASHINGTON A relaxed alternately gay and serious President Eisenhower said goodbye to White House news reporters Wednesday and told them the only thing he didnt like about them was the beat ing specially brilliant to offer but that he did want the op portunity to say goodbye to the correspondents with whom he had been associated for so long mostly on a friendly basis The questions covered the ingyourwife questions they whole range of world events occasionally asked It was the Presidents 193rd and last news conference since he took office in January 1953 The little conference room was jammed with 280 reporters many of whoni said they were and of the performances of the Eisenho w e r administration Asked what his biggest disap pointment had been the Presi dent solemnly replied that he was unhappiest about the fact that permanent peace with present because they felt it justice is not yet in sight to be a sentimental occasion The solemn mood did not The President was more re last long The President told laxed than sentimental and the reporters that if they more gay than serious in most wanted a specific example of of his remarks about his he cite periodic meetigns with the 01 the past eight Maximum Minimum At 8 am 40 21 22 press over years Dressed in brown and look ing carefree and sunny he strode into the conference room exactly on the dot at 10 am He said he had noth the outcome of the Nov 8 elec tion This got the laugh he obvi ously was angling for and he reaped another harvest of laughter a few moments later when someone asked him what he thought of the constitution al amendment limiting a pres ident to two terms in office Its a funny thing he said but ever since the election Re publicans have been asking this A reporter then asked a Beatingyourwife question and the President joined everybody else ir a roar of laughter The reporter wanted to know whether an Eisenhow er proposal for creating a new office of first secretary of the government would not mean more centralized con trol of government The President denied that was his intention and then gave a seri ous threeminute lecture on what is needed to coordinate the affairs and instruments of the big and complicated na tional government Eisenhower said election and inauguration dates ought to be changed so a new presi dent would have 80 days to get organized before he starts do ing business with Congress Specifically he said there should be that much time to prepare messages on the state of the Union and the budget before Congress convenes He said the greatest prob 1 e m facing Presidentelect John Kennedy when he takes pffice Friday will be that of dealing with the intransigent and unreasonable attitude of the Communist powers Yes he said hed be happy to get back his five star rani of general which he had to re linquish when he became president No he would not give his impression of Ken nedy but did say the transi tion from the old to the new administration was going splendidly At am the news con ference came to an end The reporters clsppcd The rose and wno will that he had taken consistent position of advo cating U N membership for Red China He said this was not correct But he added that the time will come when this country will face the probability that the Peiping regime will be admitted o the world organization Stevenson was one of 11 of Presidentelect John Kennedys appointees appearing before Senate committees Former North Carolina Gov Luther H Hodgeswon unani mous approval to be secretary of commerce The commerce committee vote was 170 for the 62yearold Hodges who will be the oldest member of the new cabinet On the inside Society News 678 Sports 1718 Clear Lake News 21 North Iowa News 22 Latest Markets 26 City News 2627 Comics 28 Editorials 29 NUISANCE FLEET GLASGOW Scotland jnt W P Iverson apparently asnt telling what became of e she admitted king over a period of years possibily the nations largest ank embezzlement Tightlipped examiners for he Federal Deposit Insurance orp FDIC moved in from ashington FBI agents came jo If they knew the secret Mrs secret of hy she took the erent talking The FDIC officials were ex ected to audit the books to de ermine the exact amount the ederal agency would be obli ated to pay off to depositors Bank officials estimated de osits totaled million at the me the embezzlement became known The deposits were in ured up to per de ositor Payments to depositors expected within a few ays The admitted theft by Mrs aeiger had residents shaking icir heads in bewilderment MRS GEIGER is a chic rim woman Until Tuesday she vas respected throughout Shel lon as a woman with a sympa hetic heart She sent poor boys hrough college She helped ex convicts become respected citi zens She was a 40year employe of the bank the assistant cash ier and her fathers constant helper As her ministers the Rev Thomas L u t m a n 63yearold pastor of the First Congrega tion Church said in puzzled anguish What has happened has hap pened to one of the kindest most generous women in our lommunity Mrs Geiger is locked up in he county jail at Sioux City ihe has not permitted photo raphs to be taken U S DIST ATTY F E Van klstine went to her cell with a rowd of photographers He ex ilained that if she refused to ermit picture taking the pho ographers would wait until she aves the jail and make pic ures then No Mrs Geiger said Ill ake my chances Van Alstine turned to the pho ographers and said Theres lothing more I can do He re leated this previous refusal to elease for publication any pic ure he might have of Mrs Jeiger Otherwise none was vailable If the preliminary figures rove correct the looting of the Iheldon bank would top any case n the nations history where a jank failed because of em jezzlement Mrs Geiger could go free on bond but she doesnt want to Her husband Wallace a wounded veieran of the Ko rean War and a prosperous hardware dealer said SHE DOES not want to get out She does not want to come back to Sheldon and she just doesnt know where to go From the heartbroken father came a bitter postscript Im 84yearsold he said I doubt very much whether I will ever be back in business at the bank The assets arc be ing liquidated Confidence is gone in Sheldon and trust in a family and a bank which had served the farmers merchants and wage earners of the town for al most half a century The people of Sheldon gath ered on the Four Corners the intersection of 3rd Avenue and 9th Street the fulcrum of the towns lifeto ask Why And then What could she have done with it IM SURE SHE has got a lot of it but we dont know where said District Attorney Van Al stine We are investigating banks from here to Mexico City to find out Mrs Geigers structure of de falcation crumpled suddenly Monday it was learned when objecting to the new base fora bank examiner arrived on a ciappuu niu nan American Polarisfiring subjroutinc visit The examiner cease to be president at noon marines in Holy Loch have or1turned to Mrs Geiger and asked Friday flashed a last shy grin ganizcd a nuisance fleet routine question expecting a raised both hands above his head and strode away small boats to harass the first vessel next month routine answer She looked at him for a mo   

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