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Mason City Globe Gazette Newspaper Archives

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Mason City Globe-Gazette (Newspaper) - March 6, 1961, Mason City, Iowa North Iowas Daily Newspaper Edited for ttw MASON CITY GLOBEGAZETTE HOME EDITION VOL t Tht newspaper that makes all North lowans neighbors Aiwcltled PrM UnlUd taUraatlonil Full UIM Wlm MASON CITY IOWA MONDAY MARCH t 1W1 o paper Consists of Two SecUoiwSecuoa Oat Mf One Mans Opinion A Radio Commentary By W EARL HALL GlobeGazette Editor BROADCAST SCHEDULE JCOlO WOO pm Sunday KWLC Uecorab 12IO pmrSUH WOI Ames IUOI pm WTAD Qulnuy 930 pm Thurs WSUI town City 010 Sat Golds role in worlds money setup pOR THOUSANDS OF YEARS clear back to the days when we did most of our trad ing by gold has been a tremendously important com modity It has always been mans magic metal a meas uring stick to assess the riches of the individual or the nation In the last few months news has centered on the movement of gold from the United States to other countries Not since President Franklin D Roosevel devalued the dollar in 1934 ha gold been so much in the mind of our people That year you will recall our President raisec the price more or less arbitrar ily from to an ounce almost an ounce anc ordered all privately held golc money turned over to the gov ernment For the past several month and perhaps it goes back even further internationa speculators have been that we would devalue our dol lar again by raising the price of gold They wanted to be on hand for the killing if and when that came about In this little visit with you to day 1 should like to discuss thi interesting subject of gold and explain if I can some of the causes of the internationa movement of our precioui metal The explanation is com plex but there may be a way to present it in understandable terms AT THE OUTSET it may be noted that we are like the fam ily that has been spending more than its income That has forced us to dip into our sav ings as it were Over the past decade the U S has been spending more dollars abroad than other countries have spent here Consequently our inter national accounts have been getting more and more out of balance Gold has been flowing out of America to help balance the accounts Lets look back a few years During and after World War II the flow of gold was to the United States This was because our allies were buying war sup plies from us By the time we entered the war in 1941 our gold reserves had gone up to billion Six years before that 1935 it had been billion Two years previously it stood at billion After World War II we shipped a tremendous amount of Roods to the impoverished countries of Europe For the first three years after the war 1945 to American exports exceeded imports by more than billion A LARGE PART of this spread was paid for by Ameri can loans and grants To make up for the remainder gold con tinued to accumulate in U S vaults until in 1949 our gold re serves reached an all time high billion The rest of the world excluding Russia had only billion in gold By 1950 the movement of gold to U S was brought to an end by the expanding American for eign aid programs to support the economies of other coun tries Thanks to our help Eng land Germany France Italy and other nations got off dead center and started shipping goods to the United States Paying for these increased imports while at the same time continuing foreign aid programs in time brought an imbalance of trade We were spending more abroad than we were get ting back The trade balance was against us In the 10 years from 1949 to 1959 U S paid for imports in ternational aid and foreign in vestments billion more than we received from the other countries Part of this was met by gold shipments and a part remains as foreign claims against our countrys gold re serves WHEN THE FIRST move ment of our gold to other conn Continued on Page 2 U S sending ships to wartorn Congo area FROM OUR WIRE SERVICES LEOPOLDVILLE The Congo United States switched a small Navy task force from a goodwill visit to South Africa to the Congo Monday and ordered the ships to stand by for possible use by the United Nations State department spokesman Lincoln White said in Washing ton the action had no unilat eral significance whatsoever He said the United States had no thought of intervening direct ly in the fighting which broke out over the weekend between Congolese and UN forces LIKE FATHER LIKE Mathfeon 2year old son of Mr and Mrs Don Mathison Minneapolis uses his small shovel to dig out his tricycle as his AP Photofax father does the same on the automobile following the 7inch snowfall that hit the Minneapolis St Paul area Sunday and Monday Storm hits hard at Iowa Minnesota traffic stops FROM OUR WIRE SERVICES Snow sleet and freezing rain gave Iowa a variety of weather to cope with Monday Northwest Iowa was the hard est hit by the snow in Iowa The Emmetsburg area was hit by a 15inch snowfall Estherville re ceived 12 inches of new snow since 5 pm Sunday Spencer got 10 inches All schools in Emmet and Clay counties were closed Mon day because of the snow storm Iowa Partly cloudy Monday night colder southeast and ex treme south lows 1520 north west to the 20s elsewhere Tuesday cloudy with occasion al rain or snow southeast and extreme south and occasional snow west and north develop ing by afternoon or evening highs in the 30s Further out look Snow or rain ending Wednesday North Iowa Partly cloudy and colder Monday night lows 15 20 Snow beginning again Tuesday afternoon highs near 30 Minnesota Variable cloudiness Monday night locally colder lows 1525 Tuesday mostly cloudy snow likely south highs 3038 GlobeGazette weather data up to 8 am Monday Maximum 32 Minimum 9 At 8 am 27 Precipitation 87 3 in snow Suprise Sunset YEAR AGO Maximum Minimum 39 9 GIVE generously to your Mason City GlobeGazette newspaperboy to keep RADIO FREE EUROPE on the air County roads were virtually im passable but snowplows were clearing the primary highways The new snowfall at Esther ville brought the total there for February and March to 32 inches In Iowa the state patrol warned motorists that snow rain and sleet had left a sheet of ice across the state The Minnesota capitol was all but snowbound Monday as only a handful of lawmakers and workers trickled in during early hours Normally jammed halls and committee rooms were practic ally empty and the few who did arrive waited impatiently for the coffee stand to open But even the concession operators were delayed by the snow This is the road report for MinnesotaWisconsinIowa MINNESOTA Highways are snow packed and slippery south of a line from Breckenridge Brainerd to Duluth Travel in southern Minnesota is restricted to an emergency basis only snow packed and slippery north of a line from Prairie du Chien through Wisconsin Dells to She boygan Highways are clear south except for widely scat tered slippery spots in a narrow band adjacent to this line AMBUSH SAIGON Viet Nam Government troops fought their way out of an ambush 80 miles southwest of Saigon Friday and killed 50 Viet Cong Communist guerrillas the newspaper Sai gon Thoi Bao reported Monday SAME Iowa Safety Department Fijurej Court refuses to hear sitin case WASHINGTON ff The Su preme Court Monday unani mously refused to act on an appeal by 12 persons arrested during two sitin demonstra tions at a white lunch counter in Tallahassee Fla It was the first time the high tribunal had been asked to rule on a case growing out of a wave of sitin demonstrations in the South court gave no reason for its refusal to act on the ap peal It merely listed the case among a group of appeals in which it denied hearings The 12 persons who appealed had sat at a counter in an F W Woolworth Co store at 120 126 N Monroe St in Tallahas see Eight of those who appealed are Negroes The others are white Each was sentenced in Tallahassee Municipal Court to pay fine or serve 90 days in jafl The demonstrations oc curred a year ago AP Photofax TOPPLES DURING WINDS Two trees landed simultaneously on the roof of this home at Portland Ore when high winds hit northwestern Oregon Wind velocities as high as 85 miles an hour were re ported IOWA Highways are snow packed and icy in all but the far eastern portion The Highway Commission re ported Monday that highways north of a line through Shenan doah Winterset Boone Water loo and Elkader have been salt ed and are wet to slushy Other highways were snowpacked or icy the commission said Up to nearly an inch of rain fell in southern Iowa where temperatures Sunday were just above freezing 5 fatalities Waucoma girl dies in mishap By THE ASSOCIATED PRESS Mary Jane Kreiner 18 Wau coma was one of five persons killed in weekend traffic acci dents in Iowa Miss Kreiner was killed in stantly at about 9 pm Sunday on Highway 24 a halfmile east of Fort Atkinson She was riding with her fi ance Kenneth Geberl Elma He lost control of his car on a steep hill and curve and it went over a 60foot embankment Miss Kreiner was thrown from the car When it came to a stop the car was on top of her body Geberl was not injured The couple had been in Cal mar making arrangements for their wedding ERNEST BROWN 48 Brooks was killed in a twocar collision Sunday in which 10 other per sons were injured The accident occurred on Highway 34 six miles west of Corning Tracy Shannan 1 daughter of Mr and Mrs Joe Ed Shannan of Burlington and Orlie Nixon 69 Mount Sterling were killed in another twocar crash on a county road a mile east of Mount Sterling Saturday FRANK KUBIK 48 of Hud son was fatally injured Satur day when his car collided with a car driven by Jan Boteboon 28 of Waterloo The accident occurred on a county road intersection near Hudson On the inside Editorials Page 4 Quiz 5 Society Ntws 89 Sportt 11 Comics 13 Mason City News 1415 Clear Lakt NtwsU North Iowa Ntws 20 JAP RAIDS TOKYO po lice Monday reported the ar rest of 172 members of a nar cotics ring in prcdawn raids throughout suburban Shinjuku He said the ships were di verted only to be available in the event the UN may need them for further assistance The vessels involved are the destroyer Gearing the LST Gra ham County the LSD Hermitage and the oiler Nespelin The de stroyer Vogelgesang which also was involved in the recent saga of the luxury liner Santa Maria which was stolen by Portuguese political exiles in South America will continue to Capetown South Africa to refuel and be ready to join the others if necessary At Capetown U S Infor mation Officer Bill Green said Due to unsettled conditions in the Congo the goodwill visit has been cancelled and four of the five ships have been redi reeled to the Congo area The fifth destroyer Vogel refuel at Capetown Wednesday The US Navy moves came as a communications blackout Sun day night hid the fate of 130 Sudanese troops in the port of Matadi after renewed fighting broke out between Congolese troops and the outnumbered UN garrison Nixons future No plans on governorship By JOSEPH FINN1GAN BEVERLY HILLS Calif UPI Former Vice Presi dent Richard M Nixon sur prised a starstudded filmland audience Sunday night by an nouncing he has no plans to seek the California governor ship Sharing the speakers plat form with California Gov Ed mund G Brown and others at dinner honoring movie pio neer Adolph Zutcor Nixon glanced at Brown while talk ing of his future and said I have no plans to get his job I plan to get others It was Nixons first definite statement on whether he would run for governor since he lost the presidential elec tion last November and no body could have been more surprised by it than Brown Dick said a moment ago that he was not a candidate for my job and Im glad of it said Brown several min utes later when he addressed the group made up of many of Hollywoods biggest stars Dick said Brown I wish you all of the success in the the law business Nixon who returned to his hometown last week has promised to announce some AP Photofax PENSIVE MONARCH Moroccos new king Has san II sits pensively on the throne in the royal pal ace at Rabat awaiting delegations and diplomatic missions offering condolences on his fathers death N ews in a nutshell FROM OUR WIRE SERVICES NEW YORK A Navy transport plane carry ing eight crewmen limped into a safe landing at Floyd Bennett field here Sunday night minus six feet of one wing that was clipped off when it tried to land in fog at South Weymouth Mass naval air station None of the crewmen was injured SANTIAGO won their first Senate seats in 14 years but conservative government candidates in Chiles congressional election held a comfortable lead Monday Partial returns gave par ties backing President Jorge Alessandris coalition government 299762 votes and leftist and Communist parties 258572 The Communists elected at least three senators TAIPEI Nationalist Chinas government said Monday it is taking steps to bring antiCommunist refugees to Formosa from their present hideouts on the borders of Burma Laos and Thailand Informed sources said the U S embassy has already offered to help ferry out the refugees who fled from China when the Communists overran the country in 1949 50 INDIANAPOLIS Ind A drug firm Monday denied Wall Street rumors that it had produced a cancer cure Eli Lilly Co announced last week that it had developed a drug which had proved effective in treatment of two forms of cancer Hodgkins dis ease and choriocarcinoma Lilly emphasized the drug was only for treatment of patients with the two forms of cancer Such patients had responded well in clinical studies the firm said time this week what kind of job he will take It has Been repeatedly speculated he will join a Los Angeles law firm Nixons strongest statement about politics since leaving office has been that he intends to active in public life Until Sunday night he had not commented about the 1962 gubernatorial race Nixon said Gina Lollobcigida who sat between him and comedian Bob Hope on the speakers platform told him an actress first works for money but eventually per forms for fun I used to work for fun quipped Nixon but now Im going to work for money Bishop warns against meeting for segregation CHAELESTON S C W Plans by Roman Catholic par ents for a meeting here Monday night to discuss opposition to integration of parochial schools have brought a warning from Bishop Paul J Hallinan Bishop Hallinan said that atholics who attend gatherings called to oppose the teachings of the Church do so in contempt of the Churchs authority Those few Catholics who per sist in acting against tha Churchs teachings cannot ex pect that their membership in the Church will indefinitely re main unchanged the bishop stated At New Orleans La Sava Our Nation Inc a prosegrega tion organization offered to send pamphlets and other writings to the Charleston Catholic par ents Refueling plane crashes Nine airmen killed EL PASO Tex IJP An Air Force KB50 refueling airplane crashed just short of a Biggs Air Force Base runway Sun day night killing all nine men aboard The sixengine craft crashed with a tremendous explosion ia an unpopulated area two to three miles northeast of a run way at the base The plane was one of six re turning from a routine refuel ng mission in the Pacific The wreckage was scattered over a lalf mile area Kennedy order cuts car import for servicemen WASHINGTON Ken edy administration Sunday told members of the Armed forces overseas they no longer an bring home foreign cars at jovernment expense And after the middle of ear they will be put on tha jamc basis as civilian tourists vilh respect to shipping gifts back to the United States duty rce The action on gifts is sepa rate from President Kenncdyi request to Congress to cut from he present maximum to iOO the amount of foreign goods US tourists can bring ack for themselves without raying customs duties ;