Page 1 of 21 Nov 1960 Issue of Blytheville Courier News in Blytheville, Arkansas

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Blytheville Courier News (Newspaper) - November 21, 1960, Blytheville, Arkansas Blytheville courier Neustol. My to. Jot Blytheville Arkansas. Monday november i. 190 i pages i act any Day in the week Western europeans have Power to Rock . Financial system editor s note a president Eisenhower last week ordered emergency action to Stem the steady flow of american Gold into foreign hands. Frank Cormier experienced a Treasury department reporter and financial writer assesses the scope of the problem la the first of three articles on the Gold situation. By Frank Cormier Washington apr the nations of Western Europe now have it in their Power to Rock the american financial system any Day in the week. All that stands Between crisis to $4.7 billion. Since oct. I the and stability is an intangible called a a confidences a Confidence that the . Dollar will remain a was Good As foreign governments and their citizens own about $18 billion of Uncle same a Money. Most of these dollars Are owned by Western europeans and Are deposited or invested in the United states. Theoretically All could be used to buy american Gold . Has $18 billion if All were used for his purpose Uncle same a Supply of Bullion w Ould be wiped out. There is Only $18 billion of Gold in the governments coffers. Such a disaster is virtually impossible. For one thing foreigners do so much business with the United states that they afford to Exchange All their dollars for Gold. Furthermore to do so would wreck their own finances because the United states is the Cornerstone of the free world Economy. This does t mean however that the current anxiety Over Uncle Siam a persistent loss of Gold is misplaced. The simple fact is that foreigners could cause a major crisis merely by exchanging a relatively Small proportion of their dollars for Gold in the Span of a few Days. A no confidences of foreign bought $1 billion of . Gold in a single week this would be taken As a vote of a no confidences in the Dollar. Perhaps even a lesser amount would turn the tide. It is this possibility which last week prompted president Eisenhower to impose unprecedented restrictions on spending abroad under the military and foreign Aid programs. His aim was to Lessen the number of dollars moving into foreign hands dollars that could be used to buy american Gold. Since july i foreigners have been buying american Gold at the rate of $3 8 billion a year. Since aug. I. They have been ordering ave been ordering at an annual Pace of $4 1 billion. Since sept. I the rate has risen daily record municipal court flow of Bullion has hit a Spe Tacu tar annual rate of $5.9 billion. Gold Cushion compare this buying with the remaining . Gold Supply $18 billion of which $11.5 billion must by Law remain in government hands As backing for part of the Money Supply. It take Long to use up the Cushion available for meeting foreign orders. And once Uncle Sam had to turn away customers the Dollar would no longer be As Good As Gold. Of course the buying rate of recent weeks May Slacken and perhaps drop sharply. The Point is however that no one can foretell the future. The balding arithmetic of the present situation already has caused some International uncertainty. Witness the frenzied speculation that gripped the London Gold Market last month. Large Purchase danger at this Point Large Gold purchases Over a Short Span of time would add to the existing uncertainty would threaten to unleash forces that could shatter the free worlds financial system. The soviet Union fortunately Hasni to the dollars to attempt such a move. And Why would friends Ever do such a thing especially since they would suffer too in the end Why did millions of solid american citizens run trembling to their Banks after 1929? putting it plainly they lost Confidence in the Hanking system. It was to buttress Confidence that Eisenhower acted last week. He wanted to show the world that the United states is aware of its problem and is not afraid to do something about it that it will defend the free worlds stake in the stability of the Dollar. Action too severe some believe the presidents actions were too severe that the cure will Hurt More than the disease. However the fact that such action was taken by a a flame Duck administration suggests the urgency with which the problem is viewed by Eisenhower and his Secretary of the Treasury. Robert b. Anderson. Why they have waited nine More weeks for the inauguration of president elect John f. Kennedy some speculate that the actions were taken now because Eisenhower Felt they would be Neces charges and disposition Oscar Lee Rodgers. $100 and costs and 24 hours in jail driving while intoxicated. Joe Luevano $116.75, driving i s00n and feared a new and while intoxicated. Alex Daniels $150 and costs and 24 hours in jail driving while intoxicated. Walter r. Southerland. $100 and costs and 24 hours in jail driving while intoxicated. From dashboard to cockpit foreign policy clue cockpit of modern 707 Jet Airliner gives on idea of the Mony Durf Ond Needle indicators which must be scanned constantly. Backs policy nato new revolving drum counters Ore designed to indicate Altitude position Sneed finale of huk a of new instruments much like the familiar automobile mileage indicator. Are helping to break the a complications barriers on the latest air and space Craft. In some Multi engine Jet bombers a Pilot relies on Over too conventional Needle and dial instruments and must take As Many As 800 scanning readings a minute. To solve the problem of weight and space limitations a As Well As human limitations a designers Are turning to tiny revolving counters which simplify the mass of flight data. In Many cases the counters actually Combine the functions of three former instruments into one providing a single computed answer for the Pilot. A Pioneer in the Field is Bomar instrument corp. Of fort Wayne. Ind., whose counters Are being used in late Model jets experimental spaceships nuclear submarines and missile firings. Counter like these smaller than a half Dollar Are replacing conventional dials on instrument panels of military aircraft. 150 new jobs to hinge on tomorrows election by George Mcarthur Paris map a vice president elect Lyndon r Johnson Drew cheers today As he told legislators from Atlantic Alliance countries that the United states stands by president Eisenhower a Atlantic policies. Johnson said the u. S. Election in no Way was a a repudiation of president Eisenhower a support for the instruments of Mutual strength in Western the tall Texas senator was a a a loudly applauded As he strode into the Assembly room of the parliamentary conference of the North Atlantic treaty organza i Tion. His vigorous bipartisan speech was frequently interrupted by applause of legislators drawn from All Over Western Europe and Canada hand shaking tour Johnson made a political tour of the Hall shaking hands All i around at the conferences opening session. He strode across the Hall to warmly shake hands with French Premier Michel Debre oops reds oust . Officer Blytheville voters tomorrow will be asked to approve an Industrial Bond Issue which will mean 150 new jobs in the City. At stake in the election is Loca j Gin on the Plant which will Elution of a valve manufacturing ploy 150 persons mostly male Plant. J in the offing a year or two it will require a $393,000 Bond hence is a companion Industry Issue which will be retired by which May move to Blytheville ministration might he reluctant to take potentially unpopular measures. This was denied by an official who took part in the meeting at which Eisenhower made his de i vision. This Man said there was Moscow or a maj. Irving t. Mcdonald assistant . Air attache was ordered today to leave the soviet Union on the charge of conduct unbecoming a military attache. The russians accused Mcdonald of engaging in activities considered Here As espionage. He is the second . Air attache expelled from the soviet Union in recent months. Minister counsellor Edward i. Freers was called to the foreign office this afternoon and told that Mcdonald must leave As soon As possible. Here it was supposed that the expulsion order was in retaliation for the arrest of Igor y. Melenk chief of the russian translation Section of the United nations in new York aug. 27. Melenk is accused of espionage. Payments from the company. No taxes will he collected on the Issue As Long As the firm is solvent. And chamber of Commerce officials say the financial condition of the company is a extremely the chamber has not released the name of the firm which is headquartered in the North. Two measures As a result of the valve Plant s location Here. Tomorrows ballot will con Tain two measures. Both must pass if the new Industry is to be assured. The first is a re financing measure on Central metals company Bonds. This refinancing is necessary to take advantage of an increase in property evaluations in should tomorrows Issue pass j Blytheville. It will mean construction May be i thus enough millage would he released to take care of the new Industry. It would in no Way affect the Central metals operation or financing which has been completed. Here Are voting places Ward i a Wade furniture warehouse. Ward ii Junior chamber of Commerce clubroom. Ward Iii Blytheville water company. Ward Ivy White lumber company. Ward a a Mississippi county lumber company. Who spoke just before Johnson. Debre disclaimed any attempt on the part of French president Charles de Gaulle to weaken nato. On the contrary Deore said it Wade Gaulle s idea to strengthen nato by increasing the French weight in the organization. Still needed and Debre added. Nato is needed As much now As at its formation to years ago and the a cruel menace a of the soviet Union is As Strong As Ever. Cape canaveral fun. Of a a an attempt to launch an unmanned spare capsule failed today. We Hen the countdown reached Lero an escape Tower shot into the sky leaving the Redstone Booster rocket and the capsule on the pad. The 154-foot Tower that straight up into Low hanging Clouds and several seconds later plunged Hack onto the Cape the launching was to have been the first in the project Mercury Redstone series. The purpose was to test the capsule in a space environment. Fifteen minutes after today a launch the National aeronaut irs and space administration announced a the escape rocket on a project Mercury space Craft ignited prematurely three seconds before a scheduled launching to Day. The escape Tower landed speaking at the opening of the approximately 2,000 feet West of annual parliamentarians Confer Aunch ence of the North Antic treaty Charles Courtney $100 and Only reason for acting now costs and 24 hours in jail driving i inauguration Day might be too while intoxicated $25, reckless hate driving. Jimmy Gean. $100 and costs and 24 hours n jail driving while intoxicated. Traffic accidents saturday Ash Street Robert Russell Blytheville car minor damage George w. Teale Blytheville car major damage Russell charged with defective brakes. Saturday West main Street Charlie Richardson Blytheville car minor damage Thomas Collier Blytheville car minor damage no charges. Sunday South Elm Street Earnest Tucker. Armorel trailer no damage Raymond go Blytheville car no damage no charges. Sunday division and Chickasawba Harold Thomas Blytheville car major damage j. C. English Blytheville car major damage no charge. Argentine okays move los Angeles a Argentina a Secretary of the Navy says he approves the United states sending Navy units to protect Guatemala and Nicaragua from possible invasion. A communist aggression must be stopped in this hemisphere a rear adm. Gaston c. Clement told newsmen As he toured naval installations Here saturday. Clement said. A the Argentine people Are staunchly anti communist and blast kills 4 Caltagirone Sicily apr a liquid Gas Container exploded today and wrecked three houses at the Hamlet of Mineo. Four persons Wert killed and to injured Jap conservatives win but leftists score new gains Tokyo 4> a Japan a pro-. Ruling conservatives rolled Back to control of parliament today but failed to get the All out backing they had asked of the nations voters. The conservatives claimed their Victory was a Broad endorsement of the .�?Japan Security pact and other close ties with the West. Their leftist opponents claimed leftist gains proved just the opposite. The nationwide sunday balloting that returned prime minister Hayato Lkeda a Liberal democrats conservatives to Power followed the same general pattern of elections in Japan since world War ii. It showed a conservative majority battling a slowly but steadily increasing leftist minority. The communist made their Best showing in to years increasing their vote from 2.6 to 2.9 per cent and winning three Kas Mvubu Likely . Seat by Willi Lam n. Oatis United nations n. Y. Apr foes of congolese president Joseph Kas Mvubu mounted a last ditch Effort today to keep the u. N. General Assembly from seating him and his delegation. But the Prospect was that the i the first four countries on the Assembly would vote to seat him j speakers list a Yugoslavia. Gui anyway late today or some time i Nea Mali and Ceylon a have tuesday. That would give the come out against Kas Mvubu. United states a Victory Over i Kas Mvubu who came to new an asian african communist fac York two weeks ago to press his Tion favouring Kasai ubut a bitter Case has said that until he is rival deposed Premier Patrice seated he will not state his at Lumumba. I Titue toward the u. N. Concilia one experienced Diplomat said on commission for the Congo the vote to seat Kas Mvubu might i some diplomats say Kas Mvubu he As much As 60-20 with 18 a. As intimated that once he gets staining. A Day Long debate is exe seat he will Welcome the 15-pected and a special night session Baylor going to Gator bowl 58 Bales of Cotton burned about 58 Bales of Cotton valued at approximately $10,000, were destroyed near Dell saturday afternoon when the truck on which they were being carried caught fire. Two fire trucks from Blytheville air Force base and one each from Manila and Dell unsuccessfully fought the Blaze. Organization Johnson made a vigorous bipartisan Appeal for a a new Long step toward a Richer meaning for the Texas senator told 200 assembled legislators from natos 15 countries a the voice of isolation is stilled in new generation a a new generation of americans Tiona a 26th a who came to Early maturity moved into farm Bureau in meeting Little Rock a the Arkansas farm Bureau federa annual convention a full schedule of fighting for Freedom on the Fields speeches and business session of Europe and the islands of the today with some 1.500 Delegate Pacific is coming to Power in the and their wives in attendance leadership of our land a Johnson federation president Harold f. Said. Ohlendorf of Osceola said about a in their hearts is a determine too resolutions will be presented Tion to make the most vigorous for action before the three Day use of America s resources and i meeting ends capacities to assure their children. Ohlendorf was scheduled to and the children of All nations a speak this afternoon life without War a a future of the resolutions to come Hefner i the full convention tuesday were Johnson stressed that he was to he presented at seven District speaking As a senator and not specifically outlining policies of the administration of president elect John f Kennedy. However Kennedy read the speech when he and Johnson met last week in Texas. Foreign policy clue while Johnson a appearance Here had Long been planned he was aware that the . Election j had elevated its importance and. That the speech would be watched caucuses today with hearings then to he conducted by the resolutions committee tonight a major speaker will a mrs. Haven Smith of Chappell. Neb chairman of the american farm Bureau federations women a committee weather Driver of the truck was Able especially by europeans As the nation asian african commission to carry out its assignment of seeking peace among rival politicians. Others doubt that he will do so. Threat to quit Guinea and Mali have said privately that if Kas Mvubu is seated they will quit the commission to unhook the trailer from the tractor before the Blaze got out of hand. Blytheville compress co., to which the Cotton shipment was consigned said the Cotton belonged to Chester Harrison of Monette Ark. First indication of the new administrations foreign policy. The speech indicated the Arkansas a partly Cloudy Northwest to Cloudy Southeast and mild this afternoon tonight and tuesday. Highest this afternoon Kennedy Johnson administration it in the 60s. Lowest tonight 30s North would be More receptive toward South. High tuesday in the moves in 60. Cotton crop continues lag to expand natos i fluence beyond the military Field a the Challenge before us is to i add new dimensions to the purposes of our Alliance a Johnson said a we can and we must together enlarge the Community of joint purposes to include new neighbors j where to Quot ton est mid of the world. 1 near 40 in the Northwest. This could have been directed maximum saturday�?57 county ginnings continued to run behind last years bumper i to Ard French Quot president Chark crop. Reports released this week by Jacksonville. Fla. Mph the Bailor bears offensive ter Ros of the Southwest conference some on the commission say that have accepted a Gator bowl bid. A some of its members drop out. A a x _. None should go to the Congo. John Piombo. Gator bowl Sele fiut Jaq Wachuku d Nigeria Tion committee c airman an. Comm Sujon chairman told a renounced today he had received a r Sundgr Noth no wow keep definite acceptance from John it from making the try he said the us department of Commerce Bridger. Baylor football coach of # was a Shadow and athletic director to play Here boxing dec 31 i Wachuku dismissed the threat at that same time last year j of economic Progress and social Bridgers said the squad voted 0f Jose Nussbaumer congolese the county s gins had turned out unanimously to accept the Gator 1 commissioner for the Interior 189,905 Bales. Be warned that the . Elec bowl bid although Baylor has that 5,000 soldiers would prevent Pem Scot county has ginned j Tion a was not a Call to an easier been contacted by several other the commission Frog Landing at 96.836, As opposed to 118,077 at the life. It was a Call to a Mot n 1 bowls. 1 Leopold Ville Airport nov. I Date last year. J Spon sible Missouri a fair and warmer today and tonight partly Cloudy and turning cooler Northwest hut continued fair and warmer elsewhere tuesday High today mid 60s Northwest to around 60 Eise de Gaulle who favors giving nato a broader global Outlook. A a beyond Mutual military Pur show the county had ginned a a Johnson said we can do 153,657 Bales As of nov. I. Much More to implement concepts minimum yesterday�?34 maximum yesterday�?58 minimum this morning 3 mean temperature�?4s.7s Sunset today�?4 52 3u n Rise tomorrow�?6 40 precipitation last 48 hour f a in. J to 7 a in a none precipitation Jan. �?37 85 i to this Date Caruthersville River stage no Chanske in this Day a year Alo maximum yesterday�?60 minimum this morning�?3f precipitation Jan. I to this data a to. 18

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