Decatur Daily Democrat, Volume 55, Number 9, Decatur, Adams County, 11 January 1957 — Page 2

PAGE TWO

Financial Leaders Hail Re-Examination Monetary Credit \ And Tax Policies NEW YORK <UP>- Leaders in business and finance today hailed President Elsenhower’s recommendation lor . • complete re-ex-amination of the nation’s monetary credit and tax policies. They agreed that such a sweeping inquiry into the- adequacy of the nation’s financial position was long overdue, the la*t one having been made in 1908. The President proposed , the study of the fiscal and monetary system in an address before Congress Thursday. :' " \ Sentiments for such a study have been growing ih recent months, particularly in view of the federal Reserve System’s tight money policy. America’s economy has undergone major social and economic changes >lO the 50 years aiace the famous Aldrich Monetary Commission made the last comprehensive study of financial institutions. That study led to the creation of the Federal Reserve Sys-

BAFCO's Modern Air Turnaces Provide COMPLETE WINTER COMPORT—i healthfully warm, filtered, humidi&ed , circulated icon. YEAR AROUND AIR CONDITIONING ALSO AVAILABLE —- ■ - ■■ - ■ . -■ i . . FOR FREE ESTIMATES - PHONE 3-3316 HAUGKS HEATING — PLUMBING — APPLIANCES J AHt CONDITIONING > . i' r . • MO X 13th St. U Deeatto, Ind. 3 _A „ _ . . i If’* ar -1 ' — -<-• ■

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Additional changes followed the Senate Pecora investigation in the early 1980 s. That inquiry resulted in the formation of the Securities and Exchange Commission and other banking reforms. Cyrus Eaton, Cleveland industrialist and chairman of the Chesapeake and Ohio Railway, voiced the opinion of many experts when he said the banking system has fated to keep pace with the nation’s industrial growth. Eaton, concerned that a lack of credit could stifle economic growth, called for a revamping of the banking system, including creation of regional banks capable* of king individual loans ranging up up to SIOO million dollars. This is about double the present loan limit for the nation’s biggest commercial banks. Youth Fined For Reckless Driving James Baumgartner, 18, of Decatur route four, arrested last weekend cm North Second street for reckless driving, appeared in justice of the peace Floyd Hunter’s court Thursday night and wasfined 31 and costs. - ■ Tradf m. a bodfl TOn — oeeatw

Monthly Report Os Dairy Association The monthly report for December for the Adams county dairy herd improvement association has been released by Everett Rite, supervisor.' ' The 16 high herds: Otte Kaufffoan, 52.6; Martin Habegger, 50.5; Rolandes Liechty. 504; L. Reuben Schwarts, 47.5; Jesse Blume A Sons, 48.8; Norman Becher, 45.3; Paul E. Liechty & Sons, 44.1; Franklin Steury, 42.7; Eugene Catfee, 43.5 p Stanley Arnold, 41.7. The 10 high cows.* Martin Habegger, 105.9; Martin Habegger, 98.9; Rolandes Liechty, 97.5; Normah Becher, 95; Eugene Caffee, 95;-Rolandes Liechty, 95; Norman Becher, 92.5; L. Reuben Schwartz, 88.7; L. Reuben Schwartz, 87.2, Eli Schwartz, 87. I* - No One Injured In Three Train Wrecks DETROIT (UP)./- A total of 27 freight and passenger cars were derailed Thursday in three separate Michigan railroad accidents. Thirteen freight cars were derailed In Taylor township, 12 in Niles and 2 passenger cars in Wayne. No one was injured in any of the

THB DNCATUM DAILY DEMOCRAT, DECATUR, INDIANA

Compromise Com Program Planned Guaranteed Floor Price 1$ Planned ■ WASHINGTON (UP) The administration will offer Congress a new “compromise” com program providing a guaranteed floor price through 1959, informed source# said today. Agriculture Secretary Ezra T. Benson had wanted to seek a free hand in setting government price supports for corn, officials said. But Benson is said to have agreed to the new plan in an effort to avoid a major farm battle in Congress. Republican farm sources said that when President Eisenhower sends the corn plan to Congress next week it will Include these major features: 1. A “base acreage” of about 51 million acres for the 24-state, 894-county, “commercial” growing area. This would apply through 1959 when the acreage reserve section of the surplus-cutting Soil Bank Act expires. 2. A price support floor for the same period of not less than 70 per cent of the “fair earning power” parity price. At current parity levels, this would be a floor of about $1.25 per bushel. Officials said Benson could be expected to set the 1957 support rate at about $1.31 per bushel if the plan is adopted. r that farmers who want to qualify for price supports under the program be required to put some of their fields into the soil bank. This provision would probably require farmers to deposit an acreage equal to 15 per cent of their individual com base acreage. Purdue Agricultural Alumni Plan Banquet The Adams county chapter of the Purdue agricultural alumni association will meet Wednesday evening at 6:30 o'clock at the K. of P. home for their annual ladies night banquet. ' Professor Bob Hellie, of the Purdue bio-chemistry department, will speak on “Why a Farm Boy Should Study Chemistry.” Slides and illustrations will be included in the talk. Professor Henze is known throughout the state as an interesting speaker. Tickets are now available from the chapter officers who are Roy Price, president; Paul Kohne, viceptesideiW; Fred Meier, secretary; ' and also at the county agent’s free and W soil conservationist office. ■'

vx, Z- xf t ■CSssMrSSsx'' > ' pF i-x. ■g-./wk x - x ' <. Wl' ‘ WWrM Ho o *. W Illk a WxfH WBfMgKpffM ± RENTSCHLERS RECEIVE KEY TO CITY Peter E. Rentschler, left, and Peter R. Rentschler, fifth from left, vice-president and secretary respectively of the Decatur Casting Company, receive keys to the city of Decatur from Mayor Robert Cole, third from left, at the joint Chamber of Commerce-Lions-Rotary meeting Monday night. Also pictured are the heads of the three sponsoring organizations: Harry Schwartz, of the Lions Club; Robert Smith, representing the Rotary; and Robert H. Heller, president of the Chamber of Commerce.

Sentenced To Life For Beating Aunt Monroeville Woman Beaten And Robbed FORT WAYNE (UP)—Allen Circuit Judge William H. Schannen Thursday bight sentenced Linn Barrone, 30, Chicago, to life imprisonment in the S4O robberybeating of his aunt. A jury of ’8 men and 4 women recommended leniency in Barrone’s second trial, but Schannen said he had no authority to reduce the penalty. The defense has 30 days to appeal. Barrone was charged wiht the beating and theft of Miss Dora Barrone at her Monroeville home nearly a year ago after she re-, fused him. His alleged accomplice, Gerald Grecco, 31, Chicago, was scheduled to be tried on similar charges April 14. Both were tried together last October but a jury failed to agree pn a verdict. County Extension School January 23 A county extension school in use of nitrogen fertilizer and water will be sponsored by the crops committee January 23 at the Co-op building at Monroe, it was decided yesterday. In the morning session, starting at 10 o’clock, Russell Stivers, extension agronomist, will explain the use of nitrogen fertilizer. The Krick-Tyndall company and Farm Bureau Co-op will act as hosts for the noon lunch, also at the Co-op building. Don Sisson, agricultural engineer, will explain at the afternoon session the uses of water in farm management. His talk will be followed by a panel on the subject, which will include surface water, open ditches, tile drainage, and irrigation. Cletus Gillman will moderate the affair, and local farmers who have had interesting experiences with the subject will make up the panel. 1 ... V ' '' yi t MB? j uEKr ■• L >*x.- , Wi * f Titl s ■'■-sSMbA IMB bV- ' nB Stfc- Z ■*■ '■'IWSESIk ■bqk J t' "» ■Magqi [ Hi! i Wo Bl ft 11 GENEVIEVE ZANETTI,I7, is’shown in Paris after she was elected "Official Miss France 1057.” However, another organization has selected another “Official Miss France of 1957." At the moment tt looks as if there is to be a repetition of last year's fiasco, when two “Miss Frances” were chosen. The contest is a preliminary to the “Miss Europe” and “Miss Universe” beauty pageants. (International;

Berne Cash Balance Reduced For Year The Berrie city administration 1 started off the new year with $6,- ' 465.79 less in the city treasury 1 than last year at the same time, according to the annual financial |

Aaaual Repart of Coaaty Commiaaloaera Anaaal fltateaieat of Auditor of Receipts aad Kapeadltnreo for the year ISM, Adame Coaatjr COVNTY GKNERAL FOND DlaburaeKtad of Fuada Reeelata meats Balance on Hand, January 1, 1958 ........ —..s 7t.04e.2S 2 General Property Taxes — 149,777.44 so Bank Taxes ■. 8,329.75 Intangibles Taxes County's Share from State 7,111.74 Liquor Excise Taxes—From State 111.87 Clerk of Cirbult Court—Fees & Expenses . — 3,885.40 11,114.09 Cost of Insanity Cases .............. .?* 00 Auditor —Feas and Expenses 129.00 12,841.91 Treasurer—Fees and Expenses . — .. 982.58 13.031.34 Surveyor—Fees and Expenses .. ...........— 8,623.79 Sheriff—Fees and Expenses i *— .27*00 18,271.00 Recorder—Fees A Expenses —...» 5,167.11 9,212.11 Prosecuting Attorney—Fees and Expenses .. 4,781.00 1,698.86 Agricultural Agent .— — . . .F!l2'2? Superintendent of Schools I Coroner ™. 1,584,85 County Assessor ..... *560.64 Circuit Court R ,.~,..-.. 1*78116 Special Judges —- 280.00 *6*9o Court House—Operating Expenses 10,057.80 Jail—Operating Expenses .......... .2’211 i. Infirmary—Receipts and Expenses .....—....... 22,140.71 30,042.36 County Garage — —•■ ”7.90 Commissioners Expenses 5.985.00 Premiums on ,JQ<ftotals’ Bonds 853.00 » I Memorial Day , _ Examination of Records *— 1,448.85 722.85 County Council ;. i },»’2«2 County Attorney — L 897.00 Board of Review 222'22 School Fund Deficiency—Prln. & Interest 224.02 Bridges Repairs i.....— — 24,062.77 Firearm Dealer's Licenses 10.06 Elections i Personal Service (a) Primary Election f*??2'22 (b) General Election 4,561.50 Meals of Election Officers ... (a) Primary Election «?7.50 . ' (b) General Election .-.— ' 945.00 Election Rental (a) Primary Election — — 280.00 (b) General Election 805.00 Election Supplies and Expenses (a) Primary Election.. .... . - 21 (b) General Election V ;.L. Hl? ?? Election Equipment 123.73 Registration of Voters—All Costs ,!'212'22 Expense of Assessing—AH Twps 1LJ65.7J Farmers’ Institute & Agricultural Asso. '2,600.00 Other Agricultural Items — 6,860.38 Ditch Expenses ,• 4,614.19 Return of Fugitives _.... 1 2211 Licenses for Horse-Drawn Vehicles , ,79.00 Burial of Soldiers, Sailors, Marines J. 816.00 Expense Inmates of State Institutions 1,714.65 Health Expenses ..... f 875.00 Change of Venue Coats ..— ........j...., —. 89.60 71.00 Poor Reiief 1,29*07 Bonds —Issued and*Pald —Principal Only —. 4,000.00 Interest on Bonds 227.50 Subscription I*oo Surplus Dog Fund — * 1,194.68 Social Security «, ~ - 78.49 Transfer Tuition , 57*64 City Dump Refunds and Transfers — 507.77 104.62 TOTALS (COUNTY REVENUE) 5884,15*18 ?? BALANCE Dec. 31, 1956 $109,586.66

SPECIAL FINDS n*ia»n Reeetnts s> Disbursed Balances Jan. 1, 195(1 Tear IBM Kiada of Funds Year IBM Dee. 31, IBM t 72 040 29 $312,115.89 County Revenue .'.—1274,569.52 1109,586.66 7«2M 256 075.41 Gravel Road Repair «.. 231,584.23 81,983.24 'gis 25 595.00 Welfare Trust . 713.09 . .. 495.76 58 806 85 197,186.84 Welfare 2 7T97,054 99 58,938.70 RHU7 258:018.93 Hospital ....—... 244,821.88 36,875i.92 21 490 14 31,739.29 Ditch .Al. *. .......... ~ .. 83,625.63 19,603.90 4t,»»0.t» 450.000.00 Hospital Buildinc Fund 23,758.04 426,241.96 1,242.66 Hospital Bond Fund „ 1,242.56 ft 1 “1,171.00 stma Pros. Fund ........— —........... 1,171.00 202.60 Motor Vehicle High. Pen 202.60 148.00 School Fund Loan Exp 133.50 14.50 4jg as 1,578.99 Prln. Common ....„• _ ....... — 1,578.99 436.66 6 513 17 3,648.16 Prin. Congressional 9.200.00 956.38 6,513 17 675.00 Prln. Per Endow .... .' 285.00 390.00 »3 72 386.93 Interest Common 338.90 21.75 l»«'s4 611.98 Interest Congress 740.52 • 5 * 96.14 Interest Per. Endow 96.14 1 SOS 00 4,998.00 Fines & Forfeitures 6,790.00 10.00 1,802.00 ’ 019.65 Intangible Tax , 9,019.65 4 438 03 19481.21 , Inheritance Tax 512.94 8 802.58 State Tax 8,802.58 31,980.92 State Tuition ....; ■■ 31.930.92 1 501.50 State Fair Board 1.501.50 2,788.44 State Forestry Fund 2.788.T4 30,029.63 Retirement Fund :...... 30,029.63 * «1 • • Surplus Tax - _ . 21.68 1.00 Dog Tax Collection ....„ . 1.00 3,202.98 Recreation Tax (school) 8,203.98 100 of) ~ 400.00 Shady Cfemetery Prln .............................. 500.00 ... 21.02 .ShMy Cemetery Inter - ..... 4.0.0 17 02 Ka on -o 584 00 Docket Fees «. 619.00 21.00 040 00 850.00 West Lawn Cetn. Prln. 700.00 1,100.00 1,038.33 Weldler Levi Blain 1.038.32 34412.94 Township Tax 34,812704 361.413.43 Local Tuition — 361,413.42 349,049.77 Special School Tax 53.424 41 Special School Bond Tax 8.870.20 Vocational Education 8.670.20 31112.77 Lease Tax ...;. - 31,212.77 5410-72 Civil Bond Tax 5,110.72 ~ 125.333.96 Cumulative Building Tax 125,333_96 1,888.80 Surplus Dog Fund 1.3800 27,590.51 Library Fund 27,590.51 800.00 Zion Cemetery Prin. 800.00 64.00 ■ Zion Cemetery Inter 64.00 ~,7 O. S. Stengel Drain Con 83.8 4 a?4‘79 C. 8. Sterigle Bond * Int : 344.79 74'7'3 Emery Shirk Drain 74. <3 94'47 Fenhig-Wabash Drahv 29.47 183,556.42 Corporation Tax 183,556.42 8,541.11 Park Tax ...xU —A- 8.541.11 ' ~ . - 6,199-91 liecreation Tax (City) A 6,199.91 » 3.202.98 Police pension Tax 3,202.98 2 135.29 Fireman Pension Tax 2,185,29 J '120.00 Teacher's Retire. With. - 120.00 ,„g- 4K 14.215.10 Social Security 17,293/74 , 882 726 42 37498.43 Withholding 40.319784 $254,80048 ,. EDWARD F. JABEIKI, JANUARY IL ’ AUdUOr Ad “ mb CoU,lt>

report of the city. Its cash balance at the end of 1956 was $59,540.07, as compared with $66,005.86 a year ago. The city’s bonded indebtedness amounts to $230,000 in the form of revenue bonds for the waterworks improvement program.

FRIDAY. JANUARY 11, 1957

Top Priority By Macmillan To Alliance Will Seek To Patch Up Anglo-American Alliance At Once LONDON (UP) — Prime Minister Harold Macmillan gave top priority today to patching up the Anglo-American alliance. There were persistent reports he would go to Washington soon for talks with President Eisenhower. Macmillan scheduled a quick move into the No. 10 Downing Street residence of the prime minister today from his house , next door. Then he was expected to begin selecting the top ministers of his new government, possibly before the day is over. But he already had taken up the break in Anglo-American relations with Sir Roger Makins, British ambassador to Washington from 1953 to last November, who spoke up for Secretary of State John Foster Dulles at the height of transatlantic friction last fall. A Good Indication The conference came barely three hours after Queen Elizabeth summoned Macmillan to Buckingham Palace to appoint him as successor to Sir Anthony Eden. American observers saw the conference as a firm indication of Macmillan’s intention to restore British and American relations to pre-Suez unity. Eisenhower’s State ’of the Union Message Thursday gave Macmillan’s plans a boost. The President said “America alone and uadfaed cannot assure even its own security” —a reminder, in the British view, that America's most powerful ally in the long run still ig Britain. Diplomats believed President Eisenhower may already have been in personal communication with Macmillan and they expected prompt arrangements for “Big Two” talks on the alliance which 1 was badly damaged when Britain invaded Egypt without informing Washington. Talka With Butler Macmillan also moved swiftly to end any sign of a rift with Richard Austen (Rab) Butler, the majority leader in the House of Commons who had long been regarded as Eden’s heir-apparent and who had been favored to win appointment as prime minister. They apent half an hour in earnest talk ’Diursday afternoon and Butler said, “If my services are of value they will be at the prime minister’s disposal.” He was quoted further by a London newspaper as saying “I would certainly not desert the ship at a time like this.” Political observers predicted that Butler, the champion of moderate young Conservatives, might become deputy prime minister or foreign secretary in the new cabinet. Macmillan needs his firm support to unite the party that split over the Suez invasion. V I - Revival Services At Wren Nazqrene Revival services are continuing nightly throughput this week, at the Church of the Nazarene at Wren, O. The Rev. Franklin Moore of Goshen, is the guest evangelist. He is a former Adams county resident. There will be special music and singing, and the public is in- ‘ vited to attend these services, which begin nightly at 7:30 o’clock.