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Abilene Reporter News Newspaper Archive: March 30, 1962 - Page 1

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Publication: Abilene Reporter News

Location: Abilene, Texas

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   Abilene Reporter-News, The (Newspaper) - March 30, 1962, Abilene, Texas                               "WITHOUT OR. WITH OFFENSE TO; FRIENDS OR FOES w E SKETCH, YOUR WORLD EXACTLY .AS IT TEXAS, FRIDAY EVENING, MARCH 30, 14IB2 PAGES IN TWO SECTIONS Associated Press Bank Deposits Gain Million in County JBIG, BUT ErilPTY Wilton Allen.Jr., 13-month-old, lakes a good look inside the croxyn he won as Supremo King at a San Francisco kiddie pageant Thursday. Queen Deborah Osorio gazes majestically into space. Wilton and Deborah are from San Francisco. (AP Wirepholo) FBI JAILS FOUR TEXAS TYCOONS Estes Arrested i racy PECOS authori- ties jailed Billie Sol Estes, a grain storage and fertilizer lycoon, and three other West Tex mis on con- spiracy charges Thursday nighl. They accused the quartet ot conniving to transport fraudulent chattel mortgages. Esles, 37, remained in custody here as his lawyer arranged lo post his bond, set half an hour after bis arrest. The other men, arrested simul- taneously in Amarillo and l.ub- bock, were held in lieu of bond each. they are Harold E. Orr, presi- dent of Superior Manufacturing Co. in Amarillo, and. Kuel W. Alexander, secretory of the firm, seized nl Amarillo, and Colcmnn D, McSpadtlen, a director of the company, arrested at Lubbock. Estes, black haired and ruddy faced, has said he became a mul- ti-millionaire by invesling money he received for a ewe lamb, a Christmas gift while he was 13. Some place the value of his hold- ings'at million to mil- lion. Make Arrests U.S. marshals ami agents of the Federal -Bureau" of Investigation made the arrests shortly after Ally; Gen. Will Wilson ordered a slate1 probe of Enles1 affairs. Wil- sent Ihree assistants to check BILLIE SOL KSTES nvrcsled by FIJI Hardin Bishop of Pacific Financ in I.os Angeles, said the firm hold morlgages to secure mi lioii loaned farmers lo buy stoi age tanks for anhydrous ammi nia, a fertilizer. Esles is known to have lease a large number of Ihe lanks trot fanners. A firm said lo be Ih world's largest dealing in the fe lilizer is among his enterprise There was no immediate corr ment from Bishop or others in th group on the arrests. Kstes, who is wont to quote Ih Bible oflen in conversation, flc back lo Pecos in his private plan Tuesday after talking wilh the nance company executives in Da las. Declining comment on the sc sion, he said: "Legally .or technically il wou foolish for me lo say an thing." lis business records. He said they will try to delermine whether any violations ot Texas securities laws have occurred. Wilson said lie also watiled to 'find out just what all of these loan companies are doing in this thing." He. referred lo a Dallas conference held the past Ihrco days by representatives of 10 na- tional and local lending compa- nies. A spokesman for the conferees, 'wo Abilene Show lew Record Savings and loans at two local vings and loans organizations owed a sharp increase during e first quarter of this year and t a new all-time record for Ihose institutions, figures released them Friday reveal. Savings at Ihe Abilene Savings ssociation as of March 26, 1962. nd al the Southwest Savings oan Association as of Feb. 28 ggregated a .figure tat compares with at ic end of 1961 and with 46 as of the same dates a year 30. Loans in the two institutions at le 1961 dates totaled s compared to this ear. Abilene Savings Association had deposited in the form savings in 1962 and ust a year ago. The Southwest avings i; Loan Association fig- res for the two years, 1962 given rst, arc, and Loans at Abilene Savings Asso iation in 1961 totaled nd in 1962. Figures re for March 26 of each of thi ears. Loans al Southwest Saving: k Loan as of Feb. 28, 1961, were and on Feb. 28, 19C2 ad increased to Abilene has a third savings am oan association, Farm and Home ml it is a national organizalioi and no figures are reported by i n a local basis. Walter, Haralson Win Top Awards at Science Fair Complaints naming Estes a the others specifically allege chattel morlgiige known to "forged, altered or falsely mad was taken about last Nov. 15 fro Hudspcth in West Texas! to Los Angeles. J. H. Nelson, a lawyer repre- senting McSpadden al Lubbock who also appeared for Kstes in the Dallas meetings this week, said Ihe two ai'e competitors ralh- er than business associates. Rains Fall Over Area Widespread rains fell in Wcs Central Texas Friday with th icaviest showers al H a s k e 1 .20 of an inch was re ccived by 10 a.m. Light bail wa wilh the. showers a iwcclwalcr. Abilene had receiver. Ill by noon. The forecast calls for showers and cool wcalhcr throug Friday night, turning part cloudy and slighlly warmer Sa urday. The rain extended as far sou' as Winters, eastward lo Range north to the Haskell-Munday arc and west to Roscoe. Chief Meteorologist C. E. Site ler at (lie Abilene Weather Burea said Ihe moisture resulted fro unstable conditions aloft in whi  in Hie files of Ihc Kcporl er-Ncws show. His first bis venture, however ended In failure when invest cd us down-payment-on See KSTES, 1'jf. ll-A, Col, I A.B1LENE Municipal Airport......... Total for Year 1 Normal for Year 2 DYESS AFB Tra BALUN'GER..............Trace LYDK Slccl EASTLAND WHERE IT RAINED BANK DEPOSITS ]ft Quailer 1th Quarter 1st Quarter D.lle Dale Dnlr Marcli 26, Dei-. :IO, April Wl 1961 ink of Commerce ..........S S lizrns National Hunk rsl National Hunk rM Stale itank I6.UU.7IU> OTAI, Alill.KNK Nalimuil Hunk, !Mcrkcl S nrae Slule li.ink, Trent Stntc Rank. Tuft-ola OTAI. 3 lilJUAI. HANKS ..S S S COUNTY TOTAL S121M57.002 BANK LOANS ;mk of Comtnme Ihcns National irst Nulion.il rsl Slate OTAI, AII1LENK AM MerUI Stale, Trent..... Slale, TlHcola OTAI, .1 RUnAl. HANKS 1st Qiiaitrr Dale March. 26, 21.1M.O.V1 .S AYLOK COU.Y1T TOTAL On.irler Dale :IO, S 17 5 Isl Quarter Date April 12, I061 S f Economy 'Good'; Loans Set Record Ry JOE B. POUNS Keporter-News Business KilHor Taylor Counly hanks had a spectacular increase in deposils ot more than million on March 26, 1962, above a year ago. figures released by the seven banks re- 'ealed Friday. Figures were released today by the banks in response to a call for statement of condition by the comptroller of currency. In the city of Abilene alone there was an increase in deposits for the first quarter of I9G2 over the first quarter of last year of posits were as slightly less than million. Deposits were not an March 26. however, were even higher than the year-end total. Loans in the seven banks zoomed to the new all-time high of on March 26 this year. That figure compares with on loans a year ago and on loan as of Dec. 30, 1061. In Abilene, the loans amounted to on March 2G, 1962, ?55.2 million on Dec. 30, 1961, and S51.1 riiiUion on April 12, 1951, date of the first quarter call last year. Area hankers expressed pleas- with economic conditions m high, however. They made IheirjAbileno and Taylor County Two normal first quarter decline fromj0f (he seven banks in the county the year-end report of Dec. 30, 1961, dropping from slightly over million to Tor the City o'. Abilene only, the de- Sec list of winners, other stories Fg. 7-A Elaine Waller of Cooper High chool and Mike Haralson of Abi- ene High look the sweepstakes wards for the seventh annual Oil Sell Science Fair. Miss Waller -on the high school biological sci- nce division and Haralson, Ihe igh school physical division. The winners of (he sweepstakes onors were announced by Supt. f Schools A. E. Wells al Ihc wards assembly beld Tliursday ight at Abilene High School, the limax of a (lay of judging the leaily 450 exhibits at the fair. Other lop winners in [he fair nclude Virginia Hitler, ninth rader at Mann Junior High, in he junior high physical science division. She is the daughter ot Mr. and Mrs. Vairten Hiner of 12B4 Westview. Hiner is physics eachcr al Abilene High and di- ector of the Oil Belt Science Fair. Kalhryn Owens, Madison Junior High eighth grader, was named junior high biological science div- ision winner. She is Ihe daughler of Mr. and Mrs. James Owens of 2112 S. 34lh. v Miss Walter, daughler of Mr. and Mrs. Kenneth Walter of 4090 Montieello, also, was n swcep- slnkcs winner in Ihe I960 fair. This year she was in Wisconsin as a member of the Cooper High Exchange Club when she was an- nounced as one of Ihe swccp- slakcs winners. Hnrnlson. a junior nl AHS, is the son of Mr. and Mrs. A. D. Haralson of 1749 State. MERKEL, RANGKR .06 THE HarRlson, Abilene High School junior, posos with his Oil Belt Science Fair Exhibit ......______ before he knew he was the sweepstakes winner in the The two sweepstakes winners high school physical division. Mike is the son of Mr. will represent the Oil Belt Dis- and Mrs. A. D. Haralson of 1749 State and will com- trict at the lath National Science pctc in the National Science Fair-International at Fair-international, at Seattle, Seattle May 2-5. Sweepstakes winner in the biological Wash., May 2-5. division is Elaine Walter, now in Plymouth. Wis., on Dr. Virgil Bottom, chairman of the phvsics department al McMur- ry College, in Ihc main address .02 of Ihc awards assembly, said Ihc P Traccjsurvival nf mankind in future gen- [jfljllcratbns depends on the scientific 20 endeavors of young specialists the Cooper High School Exchange trip. (Staff Photo by Henry Wolff Jr.) Fair, Abilene High School sci- SWEETWATER WE1NERT................. WINTERS Trace WEATHER iRPAKTMENT OF COMMKItCK >craslonal conll M. Sai llnucd cnol VrUlay and inrJav vncllr c owiv n nrt warmer, Illlh Friday aljoul M- cnol lonUM. bccomlnn parlly eioudy" ihrt" llllle rnifr Saturday. inn In ebkt toalfM. ll to SO la a In TEMrKRATURKS lo- ......._ lor.ltM M la soulTieasl. Saturday Frl. ..m. ti lilt. vein jillW: W IrDHL suiurt (nnlfhl: liarlmrlrr trartini al nwn: M.18, Humrally ft PW ror.l. thai are being Iraincd in schools hi'Oiighout the nation. Dr. Bottom, in his address be- fore the awards presentation, said the world is faced wilh six rasic problems: an increasing population, loo little lane! area, only one-third nf the population lias sufficient fuel supplies are being depleted loo rapidly, naliirnl resources above Ihe ground are being Used up, and the supply of minerals is" being 'depleted. He said Ihe world will be in "very serious trouble" if this pres- ent trend continues, perhaps spell- ing the' end of mankind' within several generations unless these problems arc solved. The physicist said more scien- tists are needed In various fields nml out Hi'1' the youth in school today would ho assuming Hie problems of tomorrow. Diner winners In Ihc Oil Hell ent against Ihe normal trend in -porting greater amounts of de-' osils than were on hand at the ear-end call. Ordinarily, bank de- osils decrease in banks during TO first quarter of a year. Walter Johnson, president of ie First National Bank of Abi- :ne, said: "Our appraisal of the conomic situation far this year one of very moderate increase isofar as business is concerned, 'e do nol anticipate any parlicu- arly high aclivily of business but to continue along the pres- nt trend. We expect 1962 to be a airly level and a good year." Walter Woodrum, president o{ c Bank of Commerce of Abi- ene, said that "our increase is ommensurate with what is going n over the nation. Our activity as been real heavy and we ex- ject it to continue through the urrcnt year. The new shopping enter being built in our part of will increase the overall clivity of Abilene because it is egionat in nature and will atlract ;reat many people to Abilene .uring the year." Oliver Howard, president of tha Citizens National Bank of Abi- cne, declared that in his esti- nalion "the economic situation ooks good in this area. We are veil pleased." he added, "with comlilions here and are looking orward to a good year." J. E. Smith, vice president of he First- Stale Bank of Abilene, ;aid lhat "our local economy is itill benofilting from the defense expenditures lhat are being put this area. Over-all, we seem :o be showing the same growth lhat is being shown over the na- :ion. There is no spurt in activity but a steady growth that is more heailhy for our economic climate." Bobby Savles of the First State Bank of Tuscola declared, "We have been shy in our early sea- son lop moisture, which has af- fected livestock grazing." HoweV- er, he is "generally optimistic concerning the future." He said he is well pleased wilh Ihe recent im- provement in sheep prices be- cause Ihcre are a lot of sheep, goals and cattle in Ihe Tuscola area. Livestock prices have held up lirm, the Tuscola banker add- ed. The drop in bank deposits at tl-.e Tuacola bank is considered o be seasonal, soiiiething to bo at this time of year, he said. Booth Warren, president of tha F i M National Bank of Mcrkel, KI.A1NK WAI.TRH winner assistant supcrintoiidcnl of schools for curriculum and personnel. looking over the Hat of Oincr Winners In Ihc Oil Hell IOTRIIIB UVBI- uit 1131. u, Fair were announced by M. B. wlnncrt in the Oil Belt Science cnce leachers were agreed. The advanced science class al the school "is well worth il." The 10 sludenls enrolled in the course look honors galore for AHS. For example, Virgil Pale took a second place in Ihe biolog- ical division, a second in the phys- ical division and finished off with first place in Ihe physical di- vision with his two entries. Ann Askins, a, senior, took two top awards projects and other students followed the lead of Pale and Miss Askins by win- ning their-share of honors. In Ihe physical division 17 awards were presented. Abilene High won 11 of [hem and seven of that number were' won by stu- dents in the honors class. AHS also took 18 of the 25 awards pre- sented in Inc biological division The advanced science class is project type course Miss Mnrgurile Griflin in which Ihe students spend most of thcli lime in research, writing reports learning special techniques. said that "we feel real good about he economic situation in irea." There is also a great of livestock in the Merkel area along with agriculture and some oil activity. Warren described the alter as a factor in the area's economy. He described the rise in de- posits at his bank as being un- .isual bnl said he was not sur- prised because he realized that some money would come in rnm crops during the early part of Ihe year. Some of the crops were processed aflcr January 1 ot ln's year although those crops were grown in 1961, lie pointed out. Looks like now, Warren continued, "we will make some small grain." i. J. G. Wilks, president of the Home Slate Bank of Trent, said that the year has started off well and that he expects tl to conlinus along that line. Some rnin has been received la mnko crops look better,   

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