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  • Location: Mason City, Iowa
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Mason City Globe-Gazette (Newspaper) - March 23, 1960, Mason City, Iowa North Iowas Daily Newspaper Edittd for Hw VOL 91 MASON CITY GLOBEGAZETTE The Newspaper That Makes All North lowans Neighbors United Prew inienuoBM Full MASON CITY IOWA WEDNESDAY MARCH 23 1960 7c Copy iThl Paper CoiuliU of Two SectionsSection Majority of securities redeemed m But many persons fail to watch maturity dates By JOSEPH R SLEVIN WASHINGTON Investors hold hundreds of millions of dol lars of United States government securities that pay no interest Most of t h e investors dont know that they arent being paid for the use of their money Oth ers dont care The interestfree obligations are securities that have passed their maturity dates The latest official count showed exactly outstanding Some of the obligations will never be turned in for redemp tion Some have been lost at sea Others have been destroyed by fire In one authenticated case a bond was eaten by a calf BUT MOST OF the securities will be redeemed sooner or later The Treasury receives a steady flow of redemption re quests The matured issues date back to the 6 per cent stock of 1790 There still is outstand ing along with of the 6 per cent deferred stock of 1790 and of the 3 per cen stock The older issues are collectors items and its surprising when any come in The most ancien issue that the Treasury receivec last year was a S10 compound interest note of 186466 A few years ago it took in 6 per cent notes of 1861 in the per cent seventhirties of 186465 and in the 3 per cent funded loan o 1881 The outstanding debt still in eludes in securitie that matured before 1917 In vestors hold more than 000 of World War I Liberty Loan Bonds and more than o the postwar Victory Loans THERES A continuing trickli of Liberty Loan redemptions They come in S50 andS10 batches as people clean out at go through trunks and di old files No one knows for sure wh some big blocs of securities re in Khrushchev in France bids for cl oser tie KHRUSHCHEV IS GIFTGIVER AGAIN Soviet Premier Khrushchev apparently purchases all of his gifts from the same store Here he hands President Charles de Gaulle of France a model of a Russian AP riiolofax space satellite the same he gave President Eisen hower on his visit to the U S last fall Khrushchev has arrived in Paris for an 11day state visit Continued COIV North Iowa Mostly cloudy and turning colder extreme north 3rd stage fails to ignite radiation satellite try fails CAPE CANAVERAL Fla United States failed Wed main out for a long time and then are presented for payment Occasionally its for tax pur poses Sometimes the obligations are tied up in lawsuits The Treasury had of 1 per cent notes of 1935 out standing until last year when the entire amountVas presented for payment Similarly the New York Federal Reserve Bank ac cepted of 1 per cent notes of 1941 from an investor One of the largest batches of unredeemed interestfree secur ities consists of of Series A through D Savings Bonds that the Treasury sold be fore World War II They were 10year obligations and interest stopped when they came due THE TREASURY has just urv der 138000 of A to D Bonds out standing including 47000 of obligations The biggest bloc of matured debt is of past due Series F Savings Bonds The Treasury wrote to the last ad dresses it had for the owners about a year ago and some promptly sent forgotten bonds in for payment A number of others didnt reply and still oth ers said they thought they would keep the F Bonds even though they no longer pay interest One oldtime movie actor is known to have several hundred thousand dollars in F Bonds a number of holdings better than apiece The surprising thing is t h e ease with which people can for get they have thousands of dol lars of past due securities The most common explanation given on the certificates of ownership that the Treasury requires is that the investors overlooked the maturity date Did not need cash is fre quently given as the reason for holding securities anywhere from three months to 30 years past their maturity date Afraid to invest is another common Fiveday Iowa Temperatures will average about 10 degrees below normal Thursday through next Monday After noon highs will be from the upper 30s north to the lower 40s in the south Overnight lows will be from the upper1 teens in the north to the lower 20s in the south Continued quite cold during the period with a minor warming trend Precipitation will average 10 to 30 of an inch occurring as snow about Monday Minnesota Mostly fair colder highs in 20s GlobeGazette weather data up 3 8 am Wednesday Maximum 28 Minimum 7 At 8 am 20 to buy is still another PLANE MISSING CAIRO UAR UPI A seaplane carrying eight Ameri cans and one Italian was miss ing and feared down Wednes day somewhere between Luxor considered on the upper Nile and Jerusa Wednesday night lows 1218 in an effort t t nlnnrnnncc a n r rm diation study satellite into orbit around the earth The big fourstage Juno II rocket lifted off successfully fromthis missile testing sta tion But nearly an hour later he National Aeronautics and Space Administration in Wash ington reported it had failed to place its payload in orbit The space agency said project officials suspect that one of the upper stages failed to ignite cloudiness and colder Thursday highs 2430 Iowa Mostly cloudy Wednesday night warmer southeast half turning colder extreme north lows 5 northwest to 20 south east Decreasing cloudiness Thursday colder highs 2434 Further outlook Partly cloudy and warmer Friday On the inside Editorials Page 4 Clear Lake News12 Society News 121314 Sports 1718 North Iowa News 22 Mason City News 2627 Latest Markets 27 Comics28 There has been no confirma tion of thirdand fourthstage ignition the agency said Tracking reports are being checked and a further report on upper stage performance will be made later The rocket was designed to place a 35pound satellite into orbit to make the broadest study yet of great radiation zones in space which could imperil space flight A DEFINITE indication of failure had been reported ear lier at the launching site itself Warmup likely but itll be slight at best The weatherman indicated Wednesday that a slight touch of spring is in offing for Iowa in the form of a warming trend in the next five days However temperatures are expected to continue about 10 degrees below normal The mercury dropped to near zero at some places eastern Iowa Wednesday morning Cedar Rapids re ported a low of 3 above zero Dubuque had 4 Davenport 6 Mason City and Waterloo 7 and Burlington 8 Council Bluffs was the warmest with an overnight low of 16 Highs Thursday will be in the low 30s at best Passage near for CR bill WASHINGTON Cfl A demon strated majority of House votes was poised Wednesday to pass a civil rights bill centering on courtappointed referees to help Negroes exercise their voting rights The House wrote that provision Tuesday into a relatively mid civil rights bill by the apparent ly irreversible margin of 199104 However opponents still have the right to demand a roll call explanation Didnt know what vote which theoretically could debating civil rights Feb 15 Even after a series of around the clock sessions the Senate has not yet agreed on a bill The Senate was expected to take at least another week with I indications it still may pass its Another case of rigged state bids AMES St Another case of identical bids on materials came up before the Iowa High way Commission Wednesday The commission let contracts for the material but voted to re port the identical bids to Atty Gen Norman Erbe The bids were on 3300 tons iof calcium chloride used by the commission to keep gravel leaps from freezing in the win er and for dust alleviation in he summer R C Boyd commission main enance engineer said the 3300 ons was about a years supply He said he had taken bids for a full years supply because he had heard reports that the price of calcium chloride is going up in the near future Three firms submitted bids of per ton The commis sion divided the total purchase equally among Binns and Stev ens Explosives Inc Oskaloosa All Wheel Drive Co Davenport and Wheeler Lumber Bridge Supply Co West Des Moines Commission Chairman Robert Brice said the bids were ob Dr Wernher von Braun Army missile expert recently shifted to NASA said there was no in formation here on laterstage ig nition and it doesnt look good Von Braun said the experi ment probably will be tried again He said another Juno II is available The Explorer VIII was aimed al an orbit which would carry it as far as 33000 miles from the earth and as close as 200 miles THE VAN ALLEN belts ex tending 1000 to more than 5000 miles into space hover about the eartli with openings at the north and south polar regions Their potentially deadly radia tion is a formidable barrier to Be nice order by Red boss Harmony at Geneva talks GENEVA UP1 Premier Nikitu Khrushchev apparently has ordered Russian delegates to disarmament talks here to be nice to the West respon sible diplomats said Wednesday They speculated that Khrush chev may be hoping to smooth he way for his current visit to aris and the summit talks cheduled in May Seasoned Western veterans of 5 years of generally fruitless negotinlions with the Russians few conferences which uwe been as free of Commu nist namecalling as the current sessions here SATELLITE DELE GATES rom Czechoslovakia and Poland lave made a few remarks about West German militarism but he only tough Russian talk so ar was a crack about aggres sive Western war blocs at Tuesdays1 session on the law of mans reaching the planets the moon and Most previous U S satellites have contained instruments to survey all or part of the danger ous area Explorer VIII is the first to be devoted exclusively to this task The Juno booster rocket actually a Jupiter intermediate range ballistic missile per formed perfectly Ft went aloft the sea a separate conference In the past week the Russians have made two gestures which apparently were meant to be re garded as concessions to the West In the disarmament talks they offered to start scrapping nuclear weapons during the first stage of disarmament if the West wants them to In the nucleartest negotia tions they offered to accept President Eisenhowers pro posal for a ban on all but rela tively small underground test the small blasts are suspended for 1 to 5 years COMMUNIST SOURCES in London said Khrushchev may be willing to carry the atmosphere of sweetness and light over into the summit conference it without change the result Passage of the amended bill itself was expected Thursday The real test most members agreed was Tuesdays vote on the referee plan But several other sections still have to be Passage would send the bill to the weary Senate which began own bill instead of accepting that passed by the House Such action could delay for weeks or months final passage of a civil rights bill If the two Houses pass sep arate versions action by a con ference committee would be needed to compromise the dif ferences That would open the measures to renewed delaying action by Southern opponents The Senate has been marking time while the House acted H it were to accept the House bill the measure could be sent di rectly to President Eisenhower yiously rigged He said Erbe would be asked to investigate possible collusion among the suppliers Erbe has been investi gating other complaints of state agencies receiving identical bids on materials SAME W9129 IOWA SAFETY DEPARTMENT FIGVBES a falter at am self They predicted that he would show moderation on the Berlin issue repeating his demand for withdrawal of Allied troops from West Berlin but not insisting on an immediate com mitment by the West Western diplomats linked this sudden slackening of the Com munist attack with Khrushchevs appeal to both sides not to rock the boat DANIEL MAHER Hoffa likely to face host of charges WASHINGTON The head Teamsters monitor said Wednesday that despite lack of cooperation from fellow monitors he will file a batch of new charges seeking re moval of James R Hoffa as Teamsters Union president Martin F ODonoghuc chairman of the threeman monitor board said he is re questing permission from US Dist Judge F Dickinson Letts to file charges alleging non feasance and malfeasance in office against Hoffa Hoffa already faces trial be fore Judge Letts April 27 on monitor charges that he mis used of Detroit Local 299 funds to help finance a Florida real estate develop ment Hoffa has denied the charge Judge Letts appointed the monitors two years ago to act as overseers of a corruption cleanup in the union The unions designated mon itor Daniel B Maher said he is quitting As reasons he gave ill health and a feeling that the monitors were only trying to get rid of Hoffa and other Teamsters leaders instead of trying to guarantee rights of rank and file union members QUIET PLEASE DALLAS Tex be they mean sign language A notice in a small restaurant near Lake Lavon warns its cus llomers No Cursing Alloud Sees hope for arms cut pact Good turnout in Paris PARIS Soviet Premier Nikila Khrushchev arrived in Paris Wednesday for a 11day stale visit and indicated that dis armament may be uppermost in his mind when he talks with French President Charles de Gaulle About 300000 Frenchmen turned out to sec Khrushchev about half that greeted President Eisenhower in his visit here last year In a speech after landing at Orly Airport Khrushchev touched on main problems fac ing East and West but said We must in particular care for the problem of disarmament De Gaulle whose government is pushing ahead with a pro gram of nuclear weapon devel opment to increase its status in world councils gave no indica tion his reaction to Khrush chevs words Always austere he stood quietly by as an inter preter translated from the Rus sian KHRUSHCHEV ALSO what appeared to be an oblique reference to Berlin speaking the dangerous leftovers of World War If a description he has often applied to the stilloccu pied German metropolis These shells and these bombs arc corroded by rust he said and one runs a great risk in un earthing them But to leave them intact is to expose your self with caution and mastery We must do the same in clearing from our old and beautiful earth the remains of these somber years of war It is a difficult and delicate task The Soviet Premier who would like to see a slackening of ParisBonn ties called for further development of relations between France and the Soviet Union AP Photofax ANSWER TO A HEAT WAVE The mercury soared to 88 at Dallas Tex al weeks ago Lewis Sheriff 15 loaded and it was a good day for a snowball the family freezer with snowballs and fight Sorry because his younger broth a snowman Lewis his iced er Jeffrey 5 was ill with chick assets Tuesday in the midst of the heat en pox during a freak snowstorm sever wave and promptly got pelted by Jeff IF THE SOVIET Union and France the two greatest powers of Continental Europe in con cert with all nations dedicated to peace take an agreed posi tion on the fundamental prob lems of maintaining peace no aggressive force would be able to raise its head and trouble the peace of Europe he said Our countries can play a role no less important in the solution of the most pressing problems of our times That is to say particularly disarmament Orly Airport was a blaze of color and pageantry as the French put on a fulldress greet ing for Khrushchevs first visit x to France the first by a Russian government chief since Czar Nicholas II came with Czarina Alexandra on Oct 6 1896 KHRUSHCHEV smiled and waved his soft gray hat as he alighted from his plane fol owed by his wife Nina He seemed vigorous as he read his speech in the salon of honor but a slight hoarseness seemed to be a legacy of the influenza at tack which postponed his arrival for a week The Soviet Premier talked and smiled broadly as he and De Gaulle climbed into an open car for the 5mile drive into Paris De Gaulle habitually aloof smiled faintly An interpreter sat orv the front seat Mrs Khrushchev loaded dowa with flowers and smiling hap pily rode in a second car witll Mrs de Gaulle The spectators at first only thinly spaced But as the motorcade rode through the Paris suburbs the welcome bur geoned Crowds were with many waving tiny Soviet flags Khrushchev waved back and showed a wide grin v i ;