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View Sample Pages : Mason City Globe Gazette, January 03, 1962

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Mason City Globe-Gazette (Newspaper) - January 3, 1962, Mason City, Iowa North Iowas Daily Newspaper Idited for Home VOL TOO newspoper that GLOBE makes all North lowans JANUARY 3 neighbors HOME EDITION Portugal ff sure I eave U N A battle oh savings deposits Attempt to squeeze costs By EDWARD COWAN WASHINGTON UPI Com petition between banks and sav ings and loan associations for depositors have entered a new round It promises to be a tough fight Whichever way the tide of battle for savings deposits goes one thing appeared certain Savers be able to earn more interest and some borrowers will have to pay more Government and industry of ficials have begun a close watch to see how the public would react to higher interest rates being offered at of the cations 13400 commercial banks The government has boosted from 3 per cent to 4 per cent J the maximum rate on savings accounts in commercial banks Banks offfering these rates will be more competitive with the nations 6200 savings and loan institutions which usually have paid more than banks How much of a shift in deposits will there be That question worries both savings and loan managers and bankers trying to hold the line on rates as well as government officials Some government officials fear that a shift iof money to banks would diminish the supply of home Joan money from savings associations1 That plus higher savings and loan dividend rates could push up mortgage costs and crimp home building and related industries Under the new the banks may pay per cent on all sav ings deposits and 4 per cent on funds left undisturbed for a year or more Savings add loan associations have been paying roughly from 334 and 4 per cent in the east to 4M per cent in the west There isno limit on the dividend rate of federally chartered savings associations Many institutions pay interest or dividends for the entire month on money deposited up to the 10th of the month Hence potential depositors have a few days in to shop around and decide what they want to do Their actions will be closely observed by savings and oan managers and bankers who hope to avoid paying higher rates Each last itu t i o n watches its neighbors carefully A wave of savings and loan dividend increases could occur So far it has not partly as a result of the exhortations of Federal Home Loan Bank board chairman Joseph P McMurray whose agency regulates federally chartered savings and loan as sociations Industry sources say the initial scare has passed and most as sociations will do nothing before midyear taking time to assess the situation and heir earnings prospects Although some bankers talk about squeezing costs it is gen erally believed that banks and associations which pay more wiil have to tcharge more on their loans This is less of a problem forbanks than the associations Bank loans are relatively short term But the associations have their money tied up in longterm mortgages SAME DATE jatet department ftgnrfo Flag Means Crafflo Death It Hours Photofax SOCIALITE SLAIN Doris June Bowman 28 socially prominent wife of a Pacific Palisades Calif doctor was found beaten to death at her home Police said she appar ently had been bludgeoned by an intruder but gave every evidence of putting up a ter rific fight Her husband and three children were away at the time Tallest tale Duck call summons BURLINGf ON TJPiy it to a Texan to come up with the taliest tale of 1961 A story about wildlife has won the title of worlds cham pion liar for C R Hutcheson Lubbocfc Tex The annual prize was given by the Burlington Liars Club Hutcheson wrote For years I have been working to perfect a more realistic duck call Satisfied with my laboratory tests I re cently decided to give it a field trial The first time I blew the call the ducks swarmed in from all direc tions the sky was black with them I cut loose with my pump gun and with six shots killed my limit of six ducks What is so strange about that you say Well when I picked up those ducks I found out that three of them were decoys An honorable mention went to Ben Dotzenrod Sharon Wis who wrote It was so cold out in Sharon Township last winter that we had to put antifreeze in the cows drink ing water to keep the milk from freezing in their udders Another honorable mention went to Lowell Wolfe Sturgis Mich who wrote that he and his wife bought a compact car You have no idea how eco nomical it was One night I ran outof gas a mile from home and I squeezed enough fluid out of my cigarette light er to drive the rest of the way home It has been a tough winter here inthe Mohawk Valley wrote Smith C McGregor St Johnsville NY I even had to keep the door on my refrig erator open o warm up the apartment The judges gave him honorable mention Warmer weather until Friday lowans will enjoy more of the warmer weather Thursday but the end of the mild conditions is insight The weather bureau said a low pressure storm now over the northwest part of the nation can be expected to move across Iowa late Thursday or early Friday and bring more cold arctic air into the state Also some light snow mainly in northern counties was ex pected from the new storm cen ter Until then however the weather should remain quite mild Premier in blast oh Goa issue Refuses to cooperate LISBON Portugal mier Antonio de Oliveira Salazar said in a speech delivered here Wednesday that Portugal will surely be among the first coun tries to leave the United Nations organization Meanwhile1 we shall refuse them our collaboration in every thing that is not in our direct interest he declared Reporting to the National As sembly and to the nation the 72 yearold dictator criticized the United Nations the United States and Britain for their failure to come to Portugals support when India invaded Goa Damao and Diu last month Referring to the UN mission of safeguarding peace Salazar said he believes we have the right to hear whether our presence and our collaboration are already useless in the United Nations Even if we do not I do not know yet whether we shall be the first country to abandon the Unit ed Rations but sitfely we will be among the first Meanwhile we shall refuse them our collabo ration in everything that is not in our No 71 PALM BEACH rfa President Kennedy ordered Wed nesday the immediate formation of two nevP1 Army divisions expand ing the service to 16 permanent divisions The Palm Beach White House as Salazar came in 10000word speech to suggesting direct ac tion on three possible moves dip lomatic sources here had expect ed him to announce as an after math of the loss of the Portuguese Indian enclaves They were possible withdrawal from the United Nations revoca tion of the centuryold British Portuguese alliance and refusal to renew the Azores Island air base agreement with the United States when it expires this year Salazar praised the American government as being very ac tive both in Washington and in New Delhi in its attempts to dissuade India from attacking Goa But he said Britains failure to come to the aid of Portugal its oldest ally had kept Portugal from putting up a strong fight for Goa The premier spoke as security officers still hunted the remnants of a rebel band that launched an unsuccessful New Years Day re volt against Salazars govern ment The Army Ministry accused the underground Communist party of planning and leading the uprising Will lift sanctions against Dominican WASHINGTON APJ Diplo matic and economic sanctions against the Dominican Republic are expected to be removed Thursday by the council of the Organization of American States Diplomatic sources here said Tuesday that the action probably will be taken on the recommen dation of a special committee which hasmade periodic visits to the Caribbean island since the sanctions were imposed in 1060 mrm HfWSPAPfR ONLY THE NEWSPAPER lets you see the wide scope of todays news Along with na tional and international hap penings are the events of your community womeVs organ rations clubs and fashions PALfOUT VICTIMS Because of heavy casual tiesfrom fallout members of the Korean Orphan Choir are bedded down at a Cleveland Ohio hotel in sleeping bags Actually the youngsters just couldnt get accustomed toWesterntype beds They were used to sleeping on the floor and kept rolling off their beds The bags were called in and the fallout abruptly subsided Will release two reserve units new said the activation of the two di visions would permit the release later this year with no time specified of the 32nd and 49th NationalGuard Divisions which were called to duty last Oct 15 in the armed forces buildup pretry will be organized atFt Car cipitated by the Berlin crisis One of the new regular divi sions the 1st Armored will be son Colo White House press secretary P erre Salinger said Kennedy ap MUJJS isi Armorea will be ay activated at PL Hood Te The Sav other the 5th Mechanized infan Victims of fumes around parents bodies INDIANAPOLIS Ind Daddy must dead Hes gone with mommy the child told the telephone caller The caller Milfaurn Catvert 44 rushedto tBehome of Bob bie McCloud 24 and found the four McCloud children aged 2 through 5 huddled around the bodies oftheir parents in a room still containing a deco rated Christmas tree V McCloixl and his wife Mar garet 22 had died of asphyxia tion from a leaking bottle gas heater The house was filled with gas fumes Calvert called police who rushed the four children to a hospital Michael 3 and Steven 2r were given oxygen They and their sisters Char lene 4 and Theresa 5 listed in fair condition Deputy Coroner Dr Frede rick Rice said he was told fay a gas company employe that the heater in the McCloud bedroom had been improperly vented through an unused fireplace The children survived be cause the rest of the house was heated by an oif stove Rice said Strung along the mantel of the fireplace from which the deadly fumes escaped were the familys Christmas cards The parents apparently had been dead for 24 hours The resa the oldest child said she and the other children had been clamoring for something to eat but we couldnt wake up daddy or mommy News in a nutshell FROM OUR WIRE SERVICES Clear field for Albert Garl Albert of Oklahoma has received a clear field for election as Democratic leader of the House Alberts only chfallenger Rep Richard Boiling 45 a liberal from Missouri decided to bow out of the race This ended the possibility of the first struggle for the post in 21 years Castro excommunicated VATICAN Vatican official said Cuban Premier Fidel Gastro can be considered to have been excommunicated from the Roman CatholicChurch for his attacks on the clergyEffects of excommuni cation briefly are loss of the sacraments of the church and in a broad sense ostracism from the church New move up to US VIENTIANE Laos Diplomatic observers looked to Washington for the next move in the ef forts to break the deadlock in the Laotian coalition talks caused by Gen PhoumfNosavans dogged de fiance of his American backers No new position on Berlin WASHINGTON Preliminary reports indicate SovietForeign Minister Andrei A Gromyko did not offer any new Kremlin position on Berlin in his con ference with U S AmbassadorLlewellyn Thompson informed sources JFKS dad reads papers WEST PALM BEACH Fla The Presidents father Joseph P Kennedy has recovered sufficiently from his stroke to begin reading newspapers His physicians and family said the 73yearold head of the Kennedy clan was making fine progress North Iowa Variable high cloudiness Wednesday night lows in upper Mostly cloudy and windy Thursday highs in the 40s Iowa Generally fair Wednes day night lows 2530 Increas ing cloudiness Thursday highs 50s southwest northeast Further o s t1 y cloudy and colder Friday Fiveday Iowa Temperatures will average 3 to5 degrees above n or m a 1 Thursday next Mohday Normal highs are from 25 to 33 and normal lows from 8to 16 de grees Mild Thursday colder Friday warmer again Sunday or Monday Little or no pre cipitation is expected Mostly cloudy light rain or snow Continued mild highs Thursday in 40s GlobeGazette Weather Data up to 8 a m Wednesday Maximum 35 Minimum 23 Sunrise Sunset YEAR AGO Maximum 13 Minimum 9 Crash injuries prove fatal to Nashua woman Edith Robin son 69 died Tuesday at St Lukes Hospital Cedar Rapids Funeral arrangements arejaend ing at Chenoweth Son Fu neral Home here Miss Robinson was injured in a twocar crash on Highway 30 two miles west of Wheatland Dec 26 She is the second victim of the crash Miss Robinson was in a car driven by Clara Thomas 70 al so of Nashua Another passen ger Maude Thomason 71 Shell Rock died just after the acci dent Mrs Thomas is still hos pitalized The three were on the way to Florida for a vacation On the inside Editorials Page 4 Society News 8910 Comics n Clear Lake News 12 Sports 15J4 Latest Markets 18 Tuesday and Wednesday wit Vice President B John son and the nations top defens officials i Qualified sources said National Guard divisions sum moped to dutyshould not antici pate returning home for atleas several months The cpnsin is training at Ft Lewis Wash and the 49th of Texas a Camp Polk La In the interim the Nationa Guardsmen will continue on duh as a keyelement of the Arm strategic reserves the Whit House announcement said Th quick and effective mobilizatio of this force has demonstrate in unmistakable terms ourde termination to resist Communis aggression The 1st Arrnorediwilthave combatmaneuver elements sL mechanized battalions four tan battalions and a total comple ment of 15593 officers and men The 5th Infantry will contain two infantry battalions s i j mechanized battalions and tw tank battalions with total per sonriel of 16119 officers and men With the new divisions th Bid by Dutch spurned New decree by Sukarno JAKARTA Indonesia oreign Minister Subandrio Wed esday rejected the latest Dutch ffer to negotiate theirdispute ver West New Guinea He said ndonesia would negotiate only f the Dutch agreed in advance to ransfer the area to Indonesian t Otherwise said Subandrio In lonesia will take the Dutchcon rolted western half if the big sland by invasion as it has hreatened We dp not object tobilateral negotiations with the purpose o he transfer of the administration 5f West Irian West New Guinea o Indonesia Subandrio said Suhandrio thus replied within 24 wurs to Dutch Premier Jan de Quays unconditional offer to talk over the future of the 159000 square miles of jungle and moun tain territory claimed by Indone sia ever since it won independence from theDutch in 1949 Subandrio said De Quays offer seems to me to be a mere for mality because he still empha sized the basic policy of the Neth erlands is1 selfdetermination for the people ofWest Irian vin TheHague Dutch Foreign Minister Joseph Luns expressed hope that Subandrios statement was not Indonesias last word He told Parliament that Indo nesian threats to use force 13 a very serious matter President Sukarno later is sued a decree proclaiming West Irian Dutch New Guinea an autonomous province of Indo nesia The decree provided that the new province would be under a native Papuan governor to be appointed by the president and assisted by legislative and ex ecutive councils An explanatory note said that unlikethe Dutch system of a puppet Papuan state with a Dutch governor the Indonesian concept provides for internal selfdetermination This it said would give a widemeasure of autonomy to the Papuan ulation as opposed to the Dutch selfdetermination proposal for continuation of neocolonialism and separatist policy Akers will seek nine infantry divisions nored and two airborne Th new 5th Infantry will have a manpower increaseof 2371 over the size of present infantry divi sions his 13th DES MOINES UP State Au ditor Chet Akers 74 Ottumwa Republican announced Wednes day he will seek reelection to a 13th consecutive term If nom s office in a businesslike efficient manner Akers has served longer in state gov ernment than any other elective official now in office He first became state auditor in 1939 Mason City News 1819 Transit Schedule 26 North Iowa News 28 v V DELAYS ROBBERY Beal 16 parttime Des Moines grocery clerk refused to give up the stores cash to a blanketdraped robber But the gro cers wife turned over to the holdup man Car olyn a high school junior just stood there and cried and said later I thought he was a nut or something I couldnt give him the money It wasnt mine U ;