Decatur Daily Democrat, Volume 52, Number 71, Decatur, Adams County, 25 March 1954 — Page 6

PAGE SIX

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Decatur' Principal Attends Convention Hugh J. Andrews, principal of the Decatur high school, is in Chicago attending the 59th annual convention of the North Central association of colleges and secondary schools. The local school is a member of the association. ARMY-McCARTHY <<oa«laned From Pmk«- Purl decisions in the case. He also said McCarthy’s offer to let another Republican take his place is no problem. Democrat Want Ads Bring Results WEEK-END SPECIALS Our Own Make CO<? Smoked Bacon, lb. 3 dP** SIRLOIN STEAK, lb. 49c ROUND STEAK, lb. 59c MINUTE STEAK, lb. 59c FRESH SIDE ____ lb. 39c BEEF ROAST ___ lb. 39c Fully Dressed yg A<e FRYERS --— lb. T-BONE STEAK, lb. 49c BOILING BEEF, lb. 19c SUDDUTH’S MEAT MKT. South 13th SL Phone 3-2706

Government Experts See Business Improvement

(Editor's note: What's the business outlook by now? Expert opinions differ on the immediate outlook. But they agree on one thing: Even at the worst, there is nothing in sight remotely approaching -the great panic and depression of 1929-34 when 15.000,000 persons were out of work, business collapsed, banks closed —and some plungers in the Stock market jumped out windows. The following dispatch,, tells why, and gives an appraisal of the current outlook.) By DAYTON MOORE WASHINGTON. UP — Government experts believe business will get better within three to six months. -r - But some labor leaders and Democratic congressmen are not so optimistic. They want President Eisenhower to take bigger antirecession steps now, such as extensive public works projects and larger tax cuts for lower income consumers. Even the most pessimistic, however, do not foresee anything like the chaotic, paralyzing, demoralizing depression of the early 1930’5. For one thing, there is the arsenal of stabilizing programs that was built into our national life during the Roosevelt administration —- farm price supports, unemployment payments, social security benefits, bank deposit insurance, home loan insurance. These provide a “floor” under the economy and cushion individual distress.

Furthermore, government spend-

THE DECATUR DAILY DEMOCRAT, DECATUR, INDIANA

ing continues at a rate undreamed of in pre war times. And there is today an abundance of capital and credit and savings. Government officials do not expect business for this entire year to be as good as the record levels reached in the 1953 prosperity boom. But they say there is a good chance that 1954 will be second best, which would mean substantial prosperity, to put it JyThese opinions were expressed in United Press interviews with government experts, business economists, labor leaders and congressmen, and in their recent public statements. Secretary of the treasury, George M. Humphrey told a congressional committee this week he doesn't look for much change in the economic picture before May. He said uncertainty over tax legislation. coupled with late Easter buying, means a "late spring” as far as any business upturn is concerned. “The outlook for more business and more jobs is good." commerce secretary Sinclair Weeks said. "There is far more evidence in the economic yardsticks to support the realistic optimists than, the peddlers Os pessimism. ll But Sen. Paul H. Douglas (IF 111.) a member of the joint congressional economic committee, said the administration should take more positive steps “to build up purchasing power, production and employment.” Such measures are needed now. he said, “to prevent the decline from going further and to restore the full employment of 1952.”

Government experts, however, said thut the economic program laid down by President Eisenhower in January Still is adequate tp cope with the present situation. Administration optimism was bolstered by the potent economic stabilizers installed since the black depression days of the early 1936’5. While these may not provide a positive stimulus to business recovery, they do provide a floor against precipitate collapses and insurance -against disaster. President Elsenhower has recommended further liberalization and expansion of unemployment and social security coverage and home loans. But a request to stab es to increase unemployment compensation so far has not gotten any positive response. These stabilizers and President Eisenhowers promise to us the full powers of the federal government, if business worsens seriously, have removed virtually all fears that business will slide into a depression anytlilffg”Jlke as severe as that of 1929-34. The number of jobless then climbed to 15,606.660’. Fortunes and savings of many wealthy and little speculators were wiped out in the stock market trash. Foreclosures on farms and homes were widespread. All banks were closed, with many never reopening. Prices hit bottom. Business failures were commonplace. But since the catastrophic thirties. farm price supports, unemployment payments and social security benefits help to bolster consumer income and slow down a recession before it spirals into an economy-shaking depression. Federal deposit insurance has made runs on banks most unlikely. Stock market regulation and increasing of margin requirements has eliminated much of the speculation. Stocks now are bought mainly for investment. Stocks could be bought in 1929 for very little “down payment” or margin in cash. Now’ a buyer has to put up at least half of the cost. The recent climb of the stock market to levels untouched since 1930 is regarded by the economists* as sign of strength at this time rather than a danger. It reflects investors’ confidence in the future and recent tax benefits to investors. Furthermore, there is abundant money and credit for business and investment purposes.

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Here Sunday ■ £•/ j '' 1 ’l jr' I '"’’ ■*- >■ Prof. Oliver E. Steiner, director of the Fort Wayne Bible College school of music, will show colored slides of his recent trip to Japan under the auspices of Youth For Christ International at the Missionary chruch, corner of Tenth and Dayton streets. This special service will begin at 7 p. m. Sunday. The students’ mission fund of the college sponsored the trip. The sixth world congress on evangelism met in Tokyo from Aug. 916 with over 1,060 delegates in attendance from all parts of the world. After the congress the delegates were banded into gospel teams and sent into every perfecture in Japan. Steiner, with Rev. McPherson of Los Angeles. Cal. and Mr. Yoshima from the Island of Kyushu, Japan, an interpreter, were sent to the Island of Shikoku where they conducted union meetings, street meetings and held special services in reformatories, orphanages and factories. Attempted Break-in At Magley Station The Adams county sheriffs office is investigating a break-in at the George Gerber filling station Magiey which was reported-to have occurred early Wednesday morning. Entrance was gained through a rear window but nothing of much value was stolen. It was believed that the break-in probably was made by the same persons who attempted a burglary at the Riehle Implement Co. in Decatur. .

More LorfSshoremen Returning To Work Threats To Shipping Fail To Materialize NEW YORK UP,— Threats to shut down all Atlantic Coast shipping failed to materialize today. Tugmen of the striking independent International Longshoremen’s Assn, continued work in New York harbor and rival AFL longshoremen returned to work in increasing force. The AFL-IIA reported more than 3,500 longshoremen at work on Brooklyn, Manhattan and New Jersey docks. Still shut down tight, however, were the Manhattan luxury liner piers dominated by the old ILA’S “pistol” Local 824, stronghold of the union’s most Infamous racketeers. ILA longshoremen in Baitrfnore flatly refused to walk out in sympathy with the New York leadership which Wednesday night formally authorized the 21-day-old wildcat strike against the New York port. In Boston, ILA men continued working and planned to vote tonight on whether to walk out. Philadelphia 4LA leaders said they had "no plans” at present to Join the walkout and ’can’t legally participate in a strike at this time.” Longshoremen in those three other major ports of the district are working under contracts with “no strike" provisions. New York ILA locals have been working—off and on —since last October without a contract pending settlement of the bitter jurisdictional battle with the rival union set up by the AFL after it lifted the ILA charter for union corruption. The ILA’s New York district council termed the dispute a “no contract," no work" stoppage Wednesday night when it formally authorized the strike begun three weeks ago in defiance of a federal court restraining order. Mayor Robert F, Wagner urged that President Eisenhower step into the dispute if the ILA. makes good its threat to shut down ports from Maine to Virginia.

THURSDAY, MARCH 25. 1954

Rev. Clyde Meadows On Holy Land Trip The Rev. and Mrs. Clyde Meadows left today for a five-week visit to the Holy Land, friends here were advised. Rev. Meadows was guest speaker here of the ministerial association at the 1953 spiritual emphasis week. Members of Rev. Meadow’s congregation at King Street United Brethren church in Chambersburg, Pa., made the Holy Land tour possible as a gift for their minister and his wife, who have served that congregation since 1928. Says Radioactive Particles In Japan . Falling On Japan From Two Sources TOKYO (UP)—A socialist member of parliament said today that radioactive particles had been falling on Japan from two testing grounds—America’s in the Pacific and the Soviets’ in Siberia. Dr. Shigeyoshi Matsumae said he obtained the information about the Soviet “fall outs" from Ameri-, can military sources whom he refused to identify. Matsumae, who investigated the Hiroshima bombing, said ashes from the remote 5 Siberian testing grounds had ben sprinkled upon Japan regularly, according to his sources. “The use of radioactive dust is the new trend in modern warfare, Matsumae said. He demanded government measures 4a “protect Japan.” In another development, Japan’s lower house foreign affairs committee decided to study the “legp4* ity” of U. S. action in extending the danger zone "in the ops«fsea’' Ground* the Eniwetok-Bijfjnl area where a mammoth hydrogen device was set off March 1. The decision to extend the danger zone was made by the United States because the effect of the March blast exceeded -expectations and because a Japanese fishing vessel, the Fukuryu Maru, was contaminated and its 23 crewmen injured even though they were 86 miles away.