Biddeford Journal, August 20, 1966

Biddeford Journal

August 20, 1966

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Issue date: Saturday, August 20, 1966

Pages available: 12

Previous edition: Friday, August 19, 1966

Next edition: Monday, August 22, 1966 - Used by the World's Finest Libraries and Institutions
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Publication name: Biddeford Journal

Location: Biddeford, Maine

Pages available: 125,330

Years available: 1884 - 1989

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All text in the Biddeford Journal August 20, 1966, Page 1.

Biddeford Journal (Newspaper) - August 20, 1966, Biddeford, Maine Weather FAIR (Complete Report oa Pag* tm) tmtml Our Numbers Now� Dept. 282-1535 Business Depls. 283-362$ VOL. 82, NO. 196 York Coanfr'1 LOCALnews DaOv Since 1884 BIDDEFORD-SACO, MAINE, SATURDAY, AUGUST 20, 1966 Associated Press Wire Service 10 PAGES ** PRICE TEN CENTS T 1 �ill r r. nobody kept cool, and for Out of Respect to Nelson P. Daigle Maine Line Motors, Inc. And Paquettes Grocery Will Be Closed All Day Monday, August 22nd Don Paquette In winding up the hearing, Pool said, "It is clear the key leadership of these groups is made up of hard-core Communists acting in behalf of foreign powers." Lunar Orbiter, now circling the moon, began sending pictures to earth Thursday. The first ones were not too clear and contained no surprises - the same old craters, ridges and plains. But scientists were elated, hoped for better transmissions later to help them select a place for man to land on the moon.  Born in 1924, of parents who went back to 1835 and 1841, the New York Herald Tribune died on Monday, Aug. 15, 1966. The passing was announced by Matt Meyer, president of World Journal Tribune, Inc., a company formed in April to take over the Herald Tribune and two other papers, the afternoon Journal American and the World Telegram & the Sun. Besides continuing the Herald Tribune, the new company planned an afternoon World Journal and a Sunday World Journal Tribune. Ten unions struck the new enterprise and it has not yet published a single paper. Said the Herald Tribune's last publisher, John Hay Whitney: "I feel that today is a day of mourning, rather than recriminations." He had lost millions in trying to keep the independent Republican paper alive, and during the long strike his edito-IContinueU oa Page Two) U.S. history. Organized labor had lined up solidly in opposi tion to the legislation. But it shatters White House guidelines designed to limit wage. hikes to 3.2 per cent a year and sets a precedent for other unions to cite in pressing for fatter paychecks. * * * Estimated at a 6 per cent or more annual increase, tne new contract gives 15 per cent in wage hikes over three years plus a cost-of-living guarantee against sharply rising prices worth up to 6 cents more per hour in the final. year of the agreement in 1968. This means top-rated mechanics, who have been receiving 3.25 an hour, will be paid at least $4.08 an hour within three years. Siemiller already was looking to the future. "It is just like a prize fight," he said. "This round is over, but there will be another one in years and 4 months," referring to the contract's expiration date. Fully paid pensions anc better health benefits and va cations will be prime goals next time, Siemiller said. In an early indication to the effect of the hefty contract, the A F L-CIO Communications Workers of America said in taking a nationwide strike vote among Western Electric Co. telephone installers that it was shooting for a similar agreement designed to shatter the administration's anti-inflation wage guidelines. Siemiller said "we claim no credit for shattering anything, but his union earlier boasted the airlines settlement "shreds" the guidelines. The five airlines lost estimat ed revenues of $340 million dur ing the strike, although it was not certain how much of this would be recouped through a1 pact under which other big air (Continued on Page Two) tary targets in their own country." * * * The President called upon South Vietnamese who support the Communists to give up their fight as a losing cause. "It must be clear, especially to those in the South who worked with the Communists to seize control by force, that their choice no longer includes a military take-over," Johnson said. "They must know that North Viet Nam cannot succeed in the conquest of South Viet Nam. Let all of those, therefore, who are tired of war and death and suffering know that they have nothing to gain by continuing their support of the communist cause." Johnson said the Communists do not want South Viet Nam's September elections to succeed. As the elections draw near, Johnson said, "we can expect more kidnapings, more raids against civilian leaders, more atrocities and more acts of sabotage. But we can also expect the elections to be held and the Vietnamese to continue to put down foundations of self-government." * * * In discussing peace prospects, Johnson said: "It may be one month or many. It may be one year or several. No one knows but the men in Hanoi. They hold the passkey to peace; only they can decide when the objective they seek is no longer worth the cost it carries. "Until peace comes, our course is clear. We will keep our commitment, carry on our determination, and do what we must to help protect South Viet Nam and maintain the stability of Asia." In discussing civil rights at University of Rhode Island con vocation in Kingston, Johnson said it is the nation's destiny "to succeed or fail as a single peo pie - not as separate races." "The Molotov cocktail destroys far more than the police car or pawn shop," he said in a prepared speech. "It destroys the basis for civil peace and social progress. "The poor suffer twice at the rioter's hands: first, when his destructive fury sc; rs their neighborhoods; second, when the atmosphere of accommodation and consent is changed to one of hostility and resentment." In a series of stops in upstate (Continued on Page Two) ANKARA, Turkey (AP)-Res-1ripped across eastern Turkey cue workers today counted near- Friday and officials said the toll ly 1,000 bodies of victims from probably will go far beyond the catastrophic earthquake thatl3,000. Stock Market Takes Big Plunge In Week NEW YORK (AP) - The one of the most sensational. stock market this week took its worst fall in more than four years, rivaling the drop of May 1962 just prior to the "Black Monday" plunge. Wall Street, was wrapped in gloom over high interest rales, tight money and the possible fate of business and (he economy later in 1966 and in 1967. The market fell sharply every day. But there was no panic, no rush to sell. Volume did pick up to 32,632,260 shares from 28,-411,250 week before. It was the largest since the week ended June 25, when 35.7 million shares changed hands. Many of the most profitable glamor stocks in electronics, office equipment, photography and airlines were hit hard. Blue chips in all categories gave ground, resulting in stiff losses to the averages. The Associated Press average of 60 stocks fell 13.3 to 289.0, its lowest since Jan. 20, 1964. This was its worst weekly loss since the week of May 26, 1962, when it fell 16.3 in the worst weekly drop on record. The Dow Jones Industrial Average fell 35.91 this week to 804.62. This was its lowest since it dropped to 800.31 on June 8, 1964, and its worst loss since the same 1962 week when it declined 38.82. On the "Black Monday" of May 28, 1962, the AP average fell 13.4 and the Dow Industrials 34.95. A temporary recovery followed that big shakeout - the worst since the 1929 crash - but the market did not reach its bottom until the end of June 1962. Many Wall Streetors were asking this weekend whether the 1962 history would repeat. A strong technical rally, at least, is anticipated, but not lasting recovery until some sign that the tight money situation is being reversed, analysts say. Of 1,581 issues traded this week, 1,393 slocks fell and 106 rose. The 37-point fall of Xerox was Fairchild Camera dropped 12Va points, Polaroid 15, Itek 15V8, Burroughs 8Vfe and Eastern Air Lines 6]/b. Airlines rallied in the midst of a general market decline on Monday. They were spurred by another proposed settlement of the airline strike. Later in the week, however, the question whether Uie union would accept it was still in the air and there was some further selling of airlines. The market plunged steeply Tuesday in advance of news which came after the close that leading banks were raising their prime interest rate to 6 per cent from 53/� per cent. The fall continued Wednesday but at a, slower pace. Another big loss cameiThurs-day, when the Federal Reserve Board froze about $450 million of lendable funds by increasing required reserves of member banks. A weak technical rally.Friday morning was followed by a further slide. News At A Glance By THE ASSOCIATED PRESS WASHINGTON The fleets of five major airlines warm up to resume operations after Machinists Union members vote to accept a new contract and end their six-week strike. NATIONAL President Johnson stumps across New England, declaring that achievement of full rights for Negroes "will avail us nothing if our society is torn by violence and discord." The stock market suffers its worst weekly decline in four years, rivaling the drop just prior to the "Black Monday" plunge in May 1962. The number of known deacl and injured rose by the hou| as army and civilian rescuJ teams fought through the rugl ged, mountainous back countrf of the quake-stunned area t