Decatur Daily Democrat, Volume 55, Number 192, Decatur, Adams County, 15 August 1957 — Page 8

PAGE EIGHT

New Treasury Head Knows His Finances Anderson Cramming On Federal Policy WASHINGTON <UP) When Robert B, Anderson graduated from the University of Texas at the age of 19, he applied for a job a* high school math teacher in Burleson, Tex. The trustee* hired him on condition that he als<> coach the football team. Anderson had never played football and his knowledge of the sport was meager. But he bought a book of football rules and spent the summer studying it That fall, his team went through the season undefeated. Today, at 47. Anderson is using the same “cram course” technique of easing himself into a much bigger and tougher job as secretary of the Treasury. Knows Finance Well Anderson is not a stranger to high finance, as he was to football. He has had considerable experience in handling large sums of other people's money—as manager of the 900 million dollar Waggoner Estate in Texas, as deputy chairman of the Dallas Federal Reserve Bank, aS secretary of the Navy and deputy secretary of defense, and for the past two years as president of Ventures. Ltd., a big Canadian mining and investment firm. But Anderson, whose unaffected humility belies what they say about Texans, does not consider this background sufficient training far his new job. Ever since H learned in April that President Eisenhower wanted him to succeed George M. Humphrey as Treasury secretary, he has”been boning up on the intricate problems of federal fiscal policy. So far, he has worked his way through <ll about five feet of books, including most of the classic texts on such subjects as debt management and the operation of the federal reserve system; (2) more than 1,000 printed pages of Senate and House hearings; (3> scores of government reports and

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Treasury documents. SUH Doing Homework Although he assumed active command of the Treasury July 29, Anderson is still plugging away at his self-assigned homework. One of his first acts was to call in the Treasury’s 14 division heads, and ask for a detailed report from each of them on the “issues and problems” confronting his division. These confidential reports were prepared, at his request, in the same kind of looseleaf notebooks that students use, and are kept up to date with frequent inserts and substitutions. | Anderson keeps them in his desk drawer for ready reference, but he has already memorized most of their He has the kind of memory that is sometimes called photographic, and has trained himself to be an extremely rapid reader. One of his aides, who saw him flipping through the pages of a highly technical report, assumed that Anderson was merely pretending to read it. The aide was startled some days later to hear the secretary cite specific dates and figures from the report. His Knowledge Incredible Over the years, Anderson has stocked his retentive mind with an incredible variety of information. He learned one profession—lawin the usual way at college. Other subjects he has picked up along the way, in preparing himself for various jobs or just out of curiosity. He taught himself petroleum geology because the vast Waggoner ranch, which he managed for 11 years, had more than 2,000 oi 1 wells. He mastered the fine points of submarine design, because he felt that a Texas landlubber should (be able to talk the admirals’ langua&e when he became secretary of the Navy. He can hold his own with experts in conversations about English poetry, cotton farming, Canadian mining. Texas politics and trapshooting. “If we could get this guy on a television quiz p ro g r am," one awed Treasury official said recently, “we would have the answer to the federal debt.” Short of Solution Since no TV program has yet come forward with a 270 billion question, Anderson probably will have to find some other answer.

His most urgent problem right now is refinancing the 72 billion dollars worth of government bonds due to mature during the current fiscal year. The Treasury had to offer 4 per cent interest — highest rate -since the 1990’s—to ease its last big issue into the tight money market. Still feeling his way into the deep waters of federal finance, Anderson isn’t ready to say what he plans to do about interest rates in the future. But he is turning into a demon bond-salesman. Two minutes after he took his oath at the White House, he sold a SIOO savings bond to Humphrey, who had been ineligible to own government securities while he was Secretary of the Treasury. Reporter Also Buys He subsequently chalked up sales to a reporter who came to interview him. and the janitor who cleans his office. Anderson knows it will take a lot of salesmanship to keep the public buying “E" bonds, with their 3% per cent interest rate, in a period wjien more attractive yields are readily available on many other investments, including some issues of government securities. But he is counting on old-fash-ioned patriotism to help him sell bonds. “You should see the mail I’ve received since I took this job,” he said, toward the close of a long interview. "Old friends, business acquaintances. even total strangers write to say that they are buying savings bonds to help me out. "Most of them are dead serious about it. It has convinced me there are millions of Americans who still consider it part of their patriotic duty to help the government move some of its debt out of the banks, where it contributes to inflationary pressures, and into longterm savings held by individuals.” Fair And Pleasant Weather Forecast Spotty Rainfall Is Recorded In State By UNITED PRESS Weak remnants of a disturbance that once was “Hurricane Bertha” helped trigger thunderstorms and showers that kept up Indiana’s seven-day series of spotty rainfall today. Shoals had 1.46 inches, Marion an inch, Elwood .85 of an inch, Muncie .81, West Baden .68, Peru .52, Newberry .32, South Bend .18, Evansville .10 and Indianapolis .04 during the 24-hour period ending at 7 a.m. today. Two low pressure areas, one from the southwest and the other from the northwest, touched off moist conditions including heavy fog in the central part of the state and high humidity. Relative humidity was 99 per cent at 8 a.m. in Indianapolis ! where a thick fog hampered air and ground travel. Temperatures were warm and seemed warmer because of the humidity. They were due to fade within the next few hours and pave the way for “fair and pleasant" weather at least in the upper two-thirds of the state Friday and Saturday. High temperatures Wednesday ranged from 80 at Evansville to 89 at Fort Wayne. Lows during the night ranged from 60 at Evansville to 70 at Indianapolis, as the extreme south portion enjoyed the luxury of tradings considerably below those in the normally cooler Great Lakes region. The weatherman forecasts highs of 86 to 91 today, lows of 66 to 73 tonight, and highs of the low 80s to 89 Friday. More scattered thundershowers are on tap for tonight all around the state and again Friday afternoon in the south portion. Rural Youth Square Dance At Portland The Jay county rural yauth is inviting the Adams county rural youth to their square dance to be held Tuesday evening. It will be held at the Jay county 4-H club building in Portland, beginning at 8 p.m. All Adams county rural youth members are urged to attend. Trade tn a — Decatia

frl & sat< ONLY 15c -50 c ' „, » I B " / Woman- ■ ♦v'a t "" n9 wßkn\&. I ' *a Iff Xv_ <Watewh cobra H^^BlrVXibjO/• l |g V V X» Planttf KNBBI ■ I 0 *—o . Sun. & Mon.—RED SKELTON in “Public Pi<eon No. 1”

THE DECATUR DAILY DEMOCRAT, DECATUR, INDIANA

No Clues Found To Missing Boy's Fate Cite Discrepancies in Two Statements BRAZIL, Ind. (UP)-A guitartoting minstrel today faced another lie detector test to check an alleged "discrepancy” in an earlier story he told about a missing 7-year-old boy. Police said discrepancies appeared in statements made by Harry A. Higgins, 53, and the missing boy’s maiden aunt, Elizabeth Martin, 41, said to be Higgins' girl friend. Police officer Tom Henshilwood said Higgins' and Miss Martin's accounts of their activities last Saturday, the day Billy Earl Martin disappeared, contained the same key “discrepancy.” Higgins, in police custody since Sunday, said he last saw the lad Saturday afternoon when he almost ran him down in his car. Billy’s disappearance caused a search in which 4,000 to 5,000 persons participated, scouring nearby woodland districts and making an inch-by-inch door-to-door investigation of this coal town of 12,000. Not a single clue has turned up. As fears rose that Billy was kidnaped or murdered, police prepared to take Higgins to state police headquarters at Indianapolis Friday or Saturday to make a complete "recheck" of his story. Higgins, an unemployed coffee grinder, boarded at the boy s home for two weeks before Billy disappeared. Both he and the boy s aunt took lie detector tests earlier in the week, but Police Chief Joseph Russell said the tests "strongly indicated” they knew more than they were telling. Police are also checking a carnival which left Brazil the day Billy disappeared, and said they would question members of the troup now performing at Arcadia, and at Princeton, Ind. Displays Five Apples From Tiny Orchard A proud apple grower came to the Daily Democrat office Wednesday afternoon, bearing five beautifully shaped and colored apples, which are products of a tiny orchard he started nearly eight years Russell Bowman, of 1417 West Madison street, stated that the tree bearing these apples bore only two apples last season, and already this season has given forth over a bushel. Also in the small orchard, which is in the vacant lot next to the Bowman home, the Bowmans are growing six other apple trees, an English walnut tree, one big cherry tree and a big red cherry tree. Bowman said that he couldn’t recall the exact name of the almost green and red spotted apples. Several of the other trees have been bearing for the past few years, but this is the first year that this particular tree has shown much results. If you x4Ct 4 t something to sell or rooms for rent, try a Democrat Want Ad — they bring results.

Tonight & Friday TWIN LAUGH BILL! MARJORIE MAIN . “KETTLES IN THE OZARKS” & “MEET ME IN LAS VEGAS” Dan Dailey, Cyd Charisse —o SAT.—‘‘Rawhide Years” — Color & ‘‘Great Locomotive Chase.” -0u Sun. Mon. Tues.—“ James Dean Story” A “Calypso Heat Wave” Free — Photograph of James Dean with Every Paid Admission!

ONE STOP at THE WRY STORE and Yoa’ra Ready for School I LI. JVwBWMf |lf Slated for Sure Success by '//A Hi-Schoolers & College Men //if ÜBBt The “neater-trimmer” look is in the carts ’/fi \ for classroom attire thia Fall. Your ; w 'young man’ will shine in this new rerime. i ; * when you outfit him from top to toe at •i ‘ THE WHY STORE. You’ll find the styles —; J your young man likes . . . the long-on-••amT' 1 wear quality that mom likes . . . th» F'' budget prices that dad likes. Jackets and Sports Coats First 0B his list is a Jacket and Sport Coat These Mre the WMl’' ‘musts’ for everyday wear and informal school activities. Ks. Here, at The WHY Store, we’ve assembled a terrific assort- £///\ . A ment ... a collection that includes the latest ideas in Ivy ’PAI '' MIBIi Learue styUn<! I .If, CBbi SPORT COATS r T ? < - NEW stripe flannel Sport Coats t f Bjs. - iMIBISISSk ? ■ in sharp 3-button models! NEW I AM I varicolored tweeds . . . NEW 4if Ell IBBWIRIM colors ... SQUIRE-KING tailor- IL.JV ■ f ln * : Just right to wear everyO A '' where with slacks. Shues for |lf v iWk I wt# iff • Grade-schoolers. Hi-schoolers jJ R-WRwSw LF■ tkAMMW JylW K POPLIN JACKETS | iWr. Dan River Poplin Jackets ... «. mßm-IBuR / J tailored with slash pockets, ad- AO I | tsg|(i®gM i justable cuffs. self-collar and •! MX X* zipper fastener! Choose from raw OlsliKr W ■ ? Whites, Black. Charcoal. Navy .1 ?gV : and Aqua. Sizes for both Men <F x.””” and Yuun « Men. NYLON JACKETS T t ' Completely washable . . . dries i in a matter of minutes! 100% l■ J Pure DuPont NYLON in the. JQQ IB popular waist-length style with /■ iVV (■B fy JJf self-collar anu zipper fronts! D JBjßr IwW IIE'gS Spot and stain resistant! Choose iSHf R!Ki IF mill from solid shades of Red and I JBB Black, as well as White. !.JE REVERSIBLES |BK SBI * Two jackets for the price of one! <BB 'BEy ' OB Every one completely washable! IB Solid colors . . stripes . . two- A) DE ’Jaßwwufct- tone combinations! A choice of W uVV (W , ifSm. TVtfi M fabrics . . Nylon . . Polished Cot- /W vVjdJ? A ten Twill . . Poplins. Sizes for {J HJ-schoolers as well as College Men ‘ BACK Back-tO-IcKouRpScISI Shool Corduroys ’"T‘ Regularly $6.95 SH. SL SKIRT SHIRTS . t, p.„ «..,, J| .77 ss-E? for $» MMB for both Men and Young A W\l \%\ ?£ lge Fellows’. \1 \\\ Charcoal * l>.A ~ St \ A SMASH HIT FOR EARLY FALL! Boy’s $1.98 | A Featuring Two New Shades of Grey niINfiAREES and Iy y League Green! Sizes from UUnllHllfaLV \ waist 28 to 34. Flap Pockets and SadSturdily constructed from die Stiched. A Terrific Value and You heavy 1« os. blue denim . . $ W oS9 Should Buy Him reinforced! Sizes * z xBBSk d* nnir« fnr from age 10 to 18! X Pa,FS X ° *9ff ~ Boy’s 39c STRETCH SOX B A bargain if you ever saw B BB one! Nylon reinforced TOP . .. » cy Anklets in sizes from to. MW You’ll find the most complete assortment Boy’s $4.98 of Slacks in town at The Why Store! HunI mUTUIEiniIT QI APtTQ dreds to choose from! Every wanted Lian Isl Ellin I OLAUnd pattern . . every wanted style . . every Yes they were actually wanted fabric! Sizes from waist 24” to «r.. xmrT'’“»u k . $4.98. Washable Linen waist 50.” Below, are listed just a few, If i XV weaves. Rayon Tropicals from this huge collection. and Gabardines. Sizes 'from * ■ BrV/11-'ft Iff A age Bto is. Wool Flannel* V i All colors in either Ivy League O OK VBfekA styles or pleated! The No. 1 9 \ JA’REIBbiSWL Slacks on his list. jT ' * \ Wool Tweed* & Gabs |J| /W? i I IlMllhnlWl Priced at $2.00 under regular jgOg jO W^K. ; < flB 10l 111 to 31”. Mm JAM <Q I iwIwtSII Sheen Gabardine* WT R M 9i i ©er ai Beautifully tailored, quality W OC F * /gOMaTii flnl! aiL&L sheen Gabardines! Matching | > M ‘’SshSm il' Bi ffllll-ttflll belts and flaps on hip pockets C/fc. vfia»w< Ir ff il Ba 1•• • P ,ea t*d. jjfei L ■ 11 |<f| Polished Cotton* fO tl J I Twills @ WaslTN’Wear fabrics! Solid 2 e OS / . 0 $ Long Slew. SPORT SHIRTS uS! ’ I/J You’ll recognise these on sight! Quality fab- styling! * rics, usually found in much higher priced Al*fFaW*Hfh Ju " Sport Shirts. Three-button Ivy League styles SntA I LKd i in new plaids and stripes and a host more! V■■ *»r> U Uoia w Sizes for Men apd the Young Men. IWO / a Pure ORLON with the famous INTERLOCK weave (won’t ravel or run) W* Jq Tubular V-neck or Crew neck! Choose from eight smart new Fall colors. Sizes for Men and the young Men. , ’5.95 ■jj H f I PB\M 11 W DECATUR

THURSDAY, AUGUST 15. 1957