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Newspaper
Corry Evening Journal
Location
Corry, Pennsylvania, United States of America
Date
Jan 31, 1959
Page
4
Government economists question how the state spends beyond income, noting private debt has grown while public debt rose modestly. An unnamed economist argues installment plans fuel consumer buying, implying private debt enriches while public debt can bankrupt. The piece contrasts secured debts and the impact on wealth.
In 1890 slightly more than half of Americans were wage earners and seventy years later the share remains similar. The rise of female labor was countered by younger men entering studies and older ones retiring. The article notes a startling discovery about labor trends.
The Corry area calendar lists weekly YMCA events including Archery Class, Interclub Council, Junior Hi-Y meetings, Kick off Membership Enrollment, Duplicate Bridge, Troop 81 Boy Scouts, Swim sessions, Sophomore Tri-Hi-Y, and a Hotel Corry breakfast report. A note references a new study by Dr. Clarence D. Long on labor force changes and wage dynamics, plus real estate inflation hedges advocating home buying as protection for periodic price shifts.
A slice of local life covers a swinging bridge collapse after storms near Spring Creek, Navy commendations for Sailor George R. Bwack, and delays in Africa departure for two families due to measles. Deanna Hoylen is re elected editor of the Cue at Indiana State Teachers College. Rumors swirl about Columbus Dam sale, local industry shifts from a tannery, and corporate moves to Michigan. Obituary notes for Col Thomas A. Northam are included, plus school car-damage incidents and personnel changes. Postscripts mention Doc Waterhouse in Cuba and Peggy Fox opening a home beauty shop, with remodeling news on the Firestone store and local bird observations. Forestry and public works items touch garbage collection, fire equipment policy, and a Philadelphia board appointment.
Palo Alto Calif AP three Smithsonian Astrophysical Observatory scientists outlined a 30 pound ultraviolet telescope satellite plan to map the entire sky in four colors. They expect first maps within two to three years and say seven months of operation would finish the project.
County commissioners heard an architectural firm estimate the county prison study to assess structural soundness would cost about 1500 dollars. Johnson, Gray and Associates outlined the plan after proposing an hourly-cost approach and noting buckling walls and badly rusted metal in the antiquated building.
In a January meeting Frank G Whitely owner and manager of Crystal Ice and Coal Co was elected president of the Corry Golden Rule Club succeeding Lawrence Davison The same issue notes London Premier Chamberlains call for halt to arms race and a general peace conference. Union City names Frank Nelson special police officer to replace Chief Magee sidelined by an auto crash leaving the force short handed until Magee recovers.
A fire discovered early last night at the Traction building was extinguished preventing heavy property damage. Lieut Pressley Shuss displayed aerial photos showing enemy positions during a heavy air attack. A Massachusetts man was arrested for stealing taps from Cut Sole and trying to sell them to Frank Litz of West Main street. E H Blair of Union City, longtime post office worker, has resigned and taken the Dodge Brothers agency including Corry. MONK the ex jazz saxophonist Boyce Brown dies at 47 in Hillside suburb.
Babson ParkMass editor says stocks cannot be predicted and urges readers to treat market outlooks with skepticism. He notes his own balanced investments and explains that prices move on investor impatience, not machine forecasts, estimating a 60-40 chance of a considerable Downgrade in 1959 and advising patience before buying.
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