THE DAILY CHOWANIAN, MURFREESBORO, NORTH CAFOLINA
Money Market Thaw Eases Fear That Coittmerkal ConSldered FoISC
Higher Interests Rates Will Occur
NEW YORK AP —The tradi
tional January thaw in the money
m"rket is easing some of the fears
today that tight money will mean
still higher interest rates and may
be a slowdown in the business
boom.
More worrisome perhaps is the
st’tement by the head of the'targ-
est steel company that steel stocRs'
are bemg rebuilt again. So^me
think that this restocking, when
completed, will mark the bound
aries of the boom as we now know
it.
When the inventory splur£:=! is
over, the auto companies will be
expected to carry the ball. Sales
are reoorted picking up. If an old-
fashioned spurt of car buying
comes this spring, everyone will
feci better.
Traditionally the money market
eases in January because of the
re'.urned of money withdrawn for
the Christmas trade.
High operating schedules of
most steel mills have taken care
of many customers’ current needs.
Roger M. Boough, chairman of
In Hendersonville
HENDERSONVILLE, N. C. AP
—Interstate 26, the highway link
ing Asheville and the Mountains
of western North Carolina with
the South Carolina Low Country,
will run through Henderson and
Polk counties generally east of the
present main north, it will lie
In neighboring Buncombe Coun
ty to the north, it will lie west of
the main route 25.
The proposed route of the road
which will tie in with 140 on the
west fringe of Asheville was dis
cussed at a public hearing here
Tuesday and received near-unani
mous approval. Some Polk resi
dents said they didn’t like the way
it mi?ht cut into the “horse coun-
ry.” There was no opposition
from Henderson residents.
The first link of the road, from
Asheville to a point just east of
Flat Rock and six miles southeast
of Hendersonville, should be let
to contract in the summer of 1961,
engineers said.
At the same time, Henderson
residents were told that the state
intends to build a connecting road
from the East Flat Rock point to
route 25 at Zirconia, eight miles
south of here.
The projects have one of the
highest construction priorities.
State Highway Director W. F. Bab
cock said.
The stretch through Polk Coun
ty has a “reasonably high” pri
ority, Babcock said, but no tenia-
tive date for construction has been
set.
Ground surveys of the Bun-
combe-Henderson link and right-
of-way acquisition will begin this
year, Babcock said.
Some 400 persons crowded into
the courthouse for the hearing
which lasted no more than an
hour and a half.
U.S. Sl.e'el thinks that the first
three months of the year will see
as much as 20 per cent of steel
shioments going into depleted steel
inventories.
Once they are rebuilt to safe
proportions, steel ordering will rc-
tuiji to scales determined by the
"a'e of, customers’ products.
Inventory rebuilding has been
th? chief artificial factor in the
current boom, which otherwise has
been founded mainly on consumer
demand.
Speculation as to when the big
boom will taper off has been given
as one reason for weakness in the
stock market since the first of the
year.
Auto makers continue to push
productioii-and order steel to do
the job-as they strive to build
up dealers’ inventories.
WASHINGTON AP
Those York City. Blue Bonnet Margai'-
drops of moisture you might have ino; Colgate-Palmolive., New YorkI l >
seen described as “flavor gems’’ City, Pa'molive Rapid Shave VjrSmftm S ^rllS«.Qe
in television margarine commer
cials ar& nothing more than a
?orin(led-on liquid, says the Fed
eral Trade Commission.
“Sandpaper” being shaved in a
shaving cream commerical is a
piece of glass or plastic to which
sand has been applied, the com
mission says.
in a competing foil lookedgq
The tired-looking ham wrapped
in a competing foil looked that
way before it was ever wrapped,
the FTC says.
Shaving Cream; Aluminum Co. of a c •
America, Pittsburgh, and its sub- Tq
sidiary, Wear-Ever Aluminum Inc.j
Philadelphia, New Super Strength; By LYNN HEINZERLING
Alcoa wrap alumitjum foil; and I ACCRA, Ghana AP — Billy G'"a-
Lever Brothers Co., New York
City, Pepsodent Toothpaste.
The FTC charged that the ch->.l-
lenged commercials tend to re
ceive the public and cause TV
viewers to buy one brand isntead
of anither on the basis of the al
leged misrepresentations. The
firms were accused of using un
fair methods of competition made
And the toothpaste commerical jUegal under the Federal Trade
using a cigaret-smoking machine commission Act.
doesn’t prove what it claims, says Colgate-Palmolive said its com-
he commission. mericals did not misrepresent the
The FTC listed these four ex-' facts and that the FTC objection
amples Thrusday in accusing four “is based solely on a technique
Millions of Cadavers
If U.S. Marines Land
HAVANA AP—Cuba’s minister
of justice said today “th°re will
ho millions of cadavers” if U. S.
M’^-'nes land in this country.
Th“ televised remarks of the
min’ster, Alfredo Yabur, apparent
ly were in reference to an earlier
report by a local radio commenta
tor that 10.000 Marines had landed
at the U.S. naval base at Guan
tanamo in eastern Cuba. Normally
a few hundred Marines are station
ed there.
The radio commentator’s state
ment could not be confirmed from
any source here.
At Norfolk, Va., an Atlantic
fleet spokesman denied the report.
He said the United States does not
have 10,000 Marines in ths Carib-
b-an area. He said, however, there
h-d been no change in plans for
Bank Robbed of
Large Sum
KINSTON, N. C. OT—A busi
ness-like bandit, wearing a tan
stocking over his head and wav
ing a .45 automatic, robbed a
branch bank here today and es
caped with $5,723.
But the bandit, in his haste to
leave, left between $10,000 and
$15,000 in the tellers’ cages.
He escaped, toward th3 center
of Kinston, in a white 1959 Ford.
The Parkview branch of Com
merical National Bank had bsen
open about 20 or 25 minutes
when the bandit walked in at
about 9:25 a.m. There were
three employes and one custo
mer in the branch.
He walked to a teller, M r s.
Gay Blue, and pushed aside her
customer. Miss Sara Beth
Hearn. He handed a paper bag
to Mrs. Blue and told her, “Fill
;t up with paper money,” branch
manager A1 Owens recalled.
“Then he backed cff from the
window, so he could cover every
body with the pistol,” said Mrs.
Murray Koonce, another teller.
“That ain’t enough,” the ban
dit growled, when Mrs. Blue
quit stuffing bills into the bag.
She passed the bag to Mrs.
Koonce, who began to put more
bills into it.
“That’s e n o u g h,” he said
abruptly. “Now all of you get in
the back. Lay down. Don’t get
up until I leave.”
Manager Owens said, “We
heard the door shut. Mrs. Blue
and the customer jumped up and
saw the type of car he was in.
We called police.”
The getaway car turned the
corner and headed back toward
the center of Kinston. The car,
from a downtown parking lot,
which had been reported stolen
was found later, abandoned in
Kinston.
Police and State Highway Pa
trol cars set up roadblocks. The
FBI was on the scene shortly
after the holdup.
Mrs. Koonce said the tan stock
ing mask matched the man’s
coloring and he had “no marked
features that I can recall.”
Owens said he noted no pecu-
larities or unusual inflections in
speech.
The FBI described the man as
about 5 feet 8 inches tall, weight
ing 170 pounds, wearing brown
trousers and a tan windbreaker
jacket.
ary government,” Yabur declared,
“that at t h e moment a foreign
ambassador offends Cuba, thou
sands of North American Marines
land at thenaval base.”
“If there are thousands of Ma
rines,” he added, “there’ll be thou
sands of Cubans. If there are thou
sands of Marines, there’ll be mil-
Yabur did not identify the am-
big companies of deceiving the
public with their television com
mercials. It said trickery was used
in some cases to make contrived
TV scenes look real.
In all four cases, the FTC said,
the TV demonstration failed to
prove claims made for the
products.
Complaints were filed against
the following firms for allegedly
deceptive advertising of the pro
ducts named:
Standard Brands, Inc., New
used to overcome photographic
difficulties.” Alcoa said “appar-
enttly the FTC complaint is con
fined to objections to one minor
method of illustrating.”
Also named in the complaints
were hree advertising agencies-
Ted Bates & Co. Inc., New York
City; Ketchum, MaCleod & Grove
Inc., Pittsburgh; and Foote, Cone
& Belding. New York City.
The manufacturers and agencies
have 30 days in which to answer
the complaints.
Should A Boy’s Parents Pay For His
College Education or Uncle Sam Pay
„ -U ucc.i uv. ... r bassador but he apparently meant
large-scale amphibious exercises Spain’s Juan Pablo de Lojendio,
h'sinnin-? today at Vieques Island, who was expelled by Prime Min-
Puerto Rico, about 1,000 miles east ister Fidel Castro _ last week for
of Guantanamo. interrupting Castro s JV O"
“It is insulting to the revolution- Spam and the United btates.
By HAL BOYLE
NEW YORK (fP) — Curbstone
comments of a pavement Plato:
Who should pay for a boy’s
college education, his parents or
U. cle Sam?
At present millions of U.S. pa
rents are improverishing their
old age in order to help their off
spring win cne of civilization’s
most prized status symbols, a
university degree.
Most students shoulder a
share of the burden by working
lart-t.me to meet some of their
expenses. But the main financial
blow falls on their parents—that
is, unless their son is one of
these rare lads who can hit a
bull’s eye with a football at 60
yards.
Many a family has to mort
gage its homestead in order that
:ts trib ,1 scion can pursue sub
jects such as “The History of
Early Roman Band Instru
ments” at old Siwash. Many a
father and mother make do with
an old suit or old dress so junior
can buy a tux to attend his fra
ternity dance.
The only help Uncle Sam gives
in most cases is to allow the par
ents a $600 annual deduction
from their gross income for each
son or daughter still in college
after the age of 18. This small
deduction, many parents feel, is
1 downright affrontery of com
mon sense.
An embittered father I know
had something to say on t h e
subject.
“When you get right down -to
it, a good case can be made for
the idea that the federal govern
ment, not me, ought to pay for
sending my boy through col
lege,” he declared.
“I’m just a sucker, in a way.
I am breaking my back and risk
ing bankruptcy so that my son
will get his sheepskin. It is
worth while for him, as it wiU
help him get a better job.
“But, looking at it from a pure
dollar and cents level, it is a
bad investment for me. I will
never get back the money I
spend for my son’s education.
After graduating he will prob
ably marry, have his own fam
ily, and won’t be in a position
to return the money I spent to
put him through college.
“It is just $10,000 down the
drain.”
“Now, on the other hand.
Uncle Sam will make a lot of
money out of that $10,000 my
son’s education cost me.”
“They tell me that each year
a boy spends in college is worth
about $25,000 in the earnings in
later life. That means my son,
in return for his four years at
the university, has an added
future income potential of
400,003.”
“Vv'ho will get all that money?
Well, ever the years my son will
probably get the use of most of
it. But the federal government,
I figure conservatively, will col-
_!ect at least $40,000 of it in the
forrn of income taxes,, amuse
ment taxes, telephone bill taxes,
airplane ticket taxes.”
“iiow do you like that? I fork
out $10,000 to educate my son
and get nothing. And Uucle Sam,
who rut out nothing, will get
back $10,000.”
“Is that fair? Why shouldn’t
the fedaral government put up
the $10,000 instead of me? It
would still make $30,000 in the
long run and a 300 per cent pro
fit isn’t to be sneezed at in the
long run.”
“Uncle Sam now pays farmers
to keen from growing crops and
subsidizes in one way or another
practically any group that raises
a big enough holler.”
“Isn’t it about time for par
ents to organize and get a place
at the trough, too? Aren’t our
college kids as much of a nat
ural resource as a soil bank?”
“There are some families
who, no matter how much they
scrimp and save, can’t raise the
money to send a smart kid to
college. So the kid quits after
high school, and every time that
happens Uncle Sam loses $40,-
000 in future taxes. Is that good
business? ”
Well, is it?
ham takes his African crusade to
Nigeria today.
A meeting Tuesday night in
asi, 125 miles northwest of Accra,
completed the evangelist’s Gahana
visit, during which he persuaded
more than 3,000 Africans to make
“decisions for Christ.”
Before flying to Kumasi, Gra
ham met with P^ime Minister
Kwame Nkrumah.
Graham said the Ghanian leader,
often describedi by his newspapers
as Frica’s savior, told him he
wants complete religious freedom
for his people.
The prime minister expressed
disappointment that he was un
able to attend one of Graham’s
meetings.
Accra’s press, including Nkru-
mah’s papers, criticized the evan-
French atomic tests in the Sahara.
Graham has refused public com-
menton the tests on pounds they
involve political questions.
One of the papers also attacked
the message ofChristianity he de
livers, contending it is “too nar
row and inadequate for the new
! Africa.”
The crowds that turned out to
I hear Graham in Ghana and Liber
ia, his first stop, were primarily
city-bred Africans who already be
long to churches.
U.S. Has Better
Intelligence
WASHINGTON AP — Presi
dent Eisenhower said today the
United States has better intelli
gence e-stimates on Soviet mili
tary production that it had in the
past.
He backed Defense Secretary
Thomas S. Gates Jr. on the in
telligence issue. Gates is under
fire in Congress with Democrats
attacking him for allegedly giv
ing too rosy a picture of Soviet
rocket output.
Eisenhower said both capabil
ity the industrial power to pro
duce weapons and intention whe
ther the Soviets will use the re
sources they have to the limit
are necessary elements of an
intelligence estimate.
The United States, Eisenhower
said, has all the power necessary
to destroy a good many coun
tries, but the world knows the
United States has no intention of
using its power for that purpose.
Eisenhower blamed much of
Gates’ trouble on a misinterpre
tation of what the defense secre
tary said. He did not explain ex
actly what misinterpretation he
had in mind, except to remark
that when Gates was asked a
question at a news conference he
ignored a premise put forward
in the question.
It was at this point that the
President said what is really
happening is that the United
States has better intelligence es
timates respecting the Soviet
Union than it had in the past.
Fashion of Today
PARIS AP — Fashion design
er Pierre Balmain today showed
a “Greek column” line, slim and
semi-slack at the waist in his pre
sentation of what women will
w?ar for the spring.
Balmain’s styles were a far cry
from the sack.
When belts were used they hug
ged the top of the hips, thus low
ering the waistline.
Hemlines just covered the knees
and tube coats were tunic-length
with split backs.
Daytime necklines were modest
curves or straight across.
Materials were light and Drapey,
in soft tones of pink and blue.
beige and grey. Sleeves were three
quarter tubes. There were skirts
in small knife—pleats, and flounce
of pleats appeared on sheath
skirts. 'I rue suits had short, slack
blouses in silk shantung.
While Balmain’s dresses were
not in full, sexy style, they were
a great distance from the sack
that hid feminine charm.
Battle lines between sex and
sack were drawn at openings
Monday.
Patou was the proponent of
slinky sex. Pierre Cardin sneaked
back with the sack. A few of his
creations were fitted at the hip,
and some fitted at the knee. But
the rest were in the bag.