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Newspaper
Scottsdale Progress
Location
Scottsdale, Arizona, United States of America
Date
Jun 05, 1964
Page
5
The article explains why government bonds lose market value when rates rise and why holding to maturity guarantees repayment at par. It also covers merger stock exchanges often avoiding immediate taxes, with gains or losses realized only on sale of new stock and the resulting capital gain or loss.
The Paradise Valley Chamber of Commerce closes its ten day Open House observance on Sunday marking the first annual community event. From May 29 through June 7 residents and organizations sponsor events to show the new community’s development. A street dance at Paradise Valley Shopping Center on 32nd St and Shea Blvd starts at 8 pm Saturday with public invited. Prize drawings will be held the same day with gifts certified by participating civic and business groups.
United Press International reports Dr. Franklin H. Littell of Chicago Theological Seminary argues that government efforts to foster religious belief through public schools and state churches backfire. He cites France Italy Sweden Denmark England and Colonial America, noting widespread nonparticipation and spiritual alienation despite nominal affiliation.
Scottsdale building department reports year to date permitting surpasses 1963 totals on a fiscal year basis. Through May permits total 1 291 with new living units at 1 327. May alone saw 2 180 541 in value and 162 permits issued.
The Board of American Missions of the Lutheran Church in America purchased five acres on the north side of Camelback Road in the 7500 block from Ralph H. Cords. The Vosskuhler Ranch parcel was sold through Ed Thirkhill Realty with no immediate building plans and no disclosed price.
The second Boys Club dance of the season is tonight in the club gym on Osborn Road. Coronado High School’s Silvertones will perform from 8 p.m. to midnight. Admission is 50 cents per person. Coronado student Dave Rigg says parish school students will be admitted with a student card and another card proving Scottsdale residency. The event is open to secondary students in the Scottsdale school district.
Air Force fired a Thor Agena launch late Thursday for a so called secret satellite toward a polar orbit. Officials again refused to describe the mission or confirm if the payload reached orbit.
Algeria's Ahmed Ben Bella rules a fractious nation with one man authority while balancing loyalties between the West and the Communist world. He faces Berber resistance near Algiers, economic troubles from unemployment to rising prices, and a shifting web of foreign credits and aid from France the Soviet Union and the United States.
Bridge lesson explains drawing two rounds of trumps can backfire if opponents access the lead. North, South, East, and West discuss the optimal sequence to manage trumps and diamonds. The advised plan: draw one round of trumps, then cash top diamonds, discard losing cards, and later draw the final trump to avoid giving opponents the chance to overtake.
Arizona educator Josephine Sawaia, president of Scottsdale group, joins 30 teachers and administrators at the National Education Association annual convention from June 28 to July 3 in Seattle. Scottsdale participants include Steve Bryan, Scottsdale Education Assn. president, and William Kelley of Coronado High School.
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