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Newspaper
Scottsdale Progress
Location
Scottsdale, Arizona, United States of America
Date
Jan 02, 1962
Page
2
Washington officials monitor a fresh contest between commercial banks and savings and loan associations as they offer higher interest on deposits. The move could push up costs for borrowers and raise returns for savers as 1962 begins.
Standard & Poor's predicts modest gains in domestic and international oil earnings in 1962, about 5 percent overall, with bigger rises for firms hurt by 1961 strikes. A more liberal dividend pattern is expected as capital needs ease. The report also notes sugar refiners may turn the corner and cane refiners could lead earnings gains next year.
UPI reports Congressman John J. Riley of the 2nd District South Carolina died at his Surfside Beach cottage after a heart attack. He had served since 1959 with one two year interruption and was 66.
The report lists temperatures and precipitation for the hourly period ending at 4 am. Readings include current and range values, with notable precipitation amounts and patterns observed overnight.
Councilman Art Petersen says he will not run on a ticket to win the mayor's chair though he may back some incumbents. Incumbents Bill Clayton John Marron and Bill Flanigan seek election. Petersen faces Bill Schrader as one of three opponents and often clashes with Flanigan.
Officials clash over paying a waste contract charge amid questions of receipts and complaints. Schrader accuses the firm of failing to provide promised free dumping for residents while Estes says actions await council changes after the March municipal general election and denies political influence.
Daily Herald columnist Henry Fielding reports Mrs Liewel Thompson wife of the U S ambassador in Moscow refused an invitation from Yuri Gagarin to ride a rocket in space. She said the idea lacked a license to operate that vehicle.
Secretary of Agriculture Orville Freeman said 1961 was a year of growing opportunity for American agriculture with net farm income up about a billion dollars to a nine percent rise. He noted reduced feed grain stocks, higher price supports, record Farmers Home Administration loans, and a surge in agricultural exports.
The Arizona National Livestock Show opens at the State Fairground Phoenix with 1061 animals from 15 states. Prize animals valued over 1 million dollars compete for ribbons, silver trophies, and 34 thousand dollars in cash prizes over the five day event. The fair marks Arizona’s 50th statehood anniversary and Father Kino’s 250th anniversary as originator of the cattle industry.
The Labor Department reported that about 5.7 million workers covered by major union contracts saw wage increases averaging 7.5 cents an hour in 1961.
Soviet Premier Khrushchev offered to negotiate all burning international problems with the Western powers while reaffirming faith in eventual Communist triumph. He pressed for general disarmament colonial eradication and a German peace treaty without setting a deadline, and said peaceful negotiation should reflect each nation’s interests. The remarks followed U S and Soviet talks on Berlin with Andrei Gromyko amid ongoingEast West diplomacy.
Caroline Jaap, 13, of Phoenix suffered a concussion and other injuries when her pony-tail became entangled in a go cart engine at a West Indian School Road track. She is in fair condition at St Joseph's Hospital. This marks a second concussion in three months after a prior horse fall in Scottsdale.
A Phoenix cocktail waitress, Virginia Baker Jordan, 33, was shot in the abdomen by her estranged husband, Jack Jordan, 47, at her workplace. She was listed in good condition at St. Joseph Hospital. Jordan fled after the shooting as witnesses described his earlier visit and his later return to fire.
Thieves raided several wealthy targets over New Year's weekend with preliminary losses surpassing $1 million. Victims included Diana Hickingbotham and Joseph C. Hickingbotham Jr, Woolworths, Xavier Cugat, Abbe Lane, and others. Loot ranged from furs and jewelry to paintings and silver, with estimates varied by source and residence.
New York stock exchange notes a year of expansion for the AMEX in 1961 with nearly 490 million shares traded, a high seat sale of 80000 dollars in March, and a vacancy at the presidency after Edward McCormick's December resignation. Joseph F. Reilly will not seek re election as chairman, signaling new leadership in 1962. The SEC completed its study of ASE operations, while exchange committees propose changes ahead of the SEC report to Congress.
Britain endures the worst cold spell in over a century as snow and fog disrupt air, rail, and road traffic. UK airports face closures and delays with London flights limited to one runway while crews clear roads. officials report some improvement but travel remains troubled.
Scottsdale Savings & Loan Association at 10 North Scottsdale Rd. will pay a daily computed 4 12 percent earnings rate on savings with a bonus on $3 year Savings Club Certificates. The firm also will award 100 free savings accounts daily for 100 banking days to registrants in person or by mail with no obligation.
Arizona State University announces a loan of a Guarnerius violin from Max B. Shoob of Phoenix. The instrument formerly belonged to Leo B. Shoob, a noted concert violinist in New England before his death. Guarnerius violins date from 1687 to 1745 in Italy.
Maricopa County plans a multi story downtown government complex with a six story and an eight or nine story building. Officials say a pending bill could allow microfilming or destroying old records to save space and permit changes such as using cards for voter affidavits and possibly increasing the board from three to five supervisors. The project is slated to begin next fall.
Van Johnson, 40, star of The Music Man, severed the top of his middle finger when a stage door rail carriage closed on it. He left the Adelphi Theater after the first four scenes, was transported to hospital, and his understudy Gordon Boyd prepared to take over as doctors stitched the finger tissue. Johnson planned to perform again that night.
Before Columbus reached the New World, diverse Indian tribes across North America cultivated pumpkins and squash, showing advanced agricultural practices long before European contact.
Composer Paul Nelson of Phoenix is awarded $1,000 in the Arizona Anniversary Music Project contest honoring the state's 50th anniversary. His piece Two Contrasts For Orchestra will debut February 13 with the Phoenix Symphony Orchestra under Guy Taylor, with Tucson Orchestra performing May 1 under Frederic Balazs. Nelson studies in Rome and holds degrees from Columbia and Harvard.
The Army announces the installation of a 102-foot space communications antenna at Ft Vix on the Ft Monmouth military reservation. It is part of Project Advent, a microwave radio relay system using active-repeater satellites in a 22,300 mile high orbit for global communications.
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