Indianapolis Times, Indianapolis, Marion County, 1 June 1951 — Page 20

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“People were hurrying past.

“WHOM GOD HATH JOINED" —Today dawned June, the month of '

about us "we hear life murmur or see it glisten."

—Times Photo by Lloyd B. Walton

rare” days when all And over our country, brides and grooms hope-

fly face the future as they pronounce the sclemn "I do.”

eT —-— Rot

' CHAPTER

Now, too, we could see’ the white spray which was |" occasionally flung high into the air behind the curly, break-

ing wave backs just in there where the “train” was roaring

- along.

Two men at the same time stood turning the steering oar; they were behind the bamboo cabin and so had no view ahead whatever. Erik, as navigator, stood on the top of the kitchen box and gave directions to the ‘two men at the heavy oar. Our plan was to keep as close in to the dangerous reef as was safe. We kept a continuous lookout from the masthead for a gap or opening in the reef where we could . try to slip the raft through. The current was now driving . us. along the whole ' length of the reef and played 4 us no tricks. The: loose center- | boards allowed ue to steer at an | angle of about 20 degrees to the | wind on both sides, and the | wind was ‘blowing along the | reef. While Erik directed our zig- | zag course and took his loops | as near the reef as was advis- | able in view. of the suction, Herman and I went out in the rubber dinghy at the end of a rope. | When the raft was on the in- | ward tack, we swung after her

It H Ry Eart Wilson

NEW YORK, June 1—One of ‘my favorite movie producers is a mice Hungarian fellow named Joe Pasternack. “When you shake hands with a Hungarian.” Joe told me once, “always count your fingers afterward.” ‘“What about counting your jewelry?” 1 asked Joe, “Oh, my goodness” . howled Joe. “Naturally you'll have taken that off béforp you shake hands.” '

8 = ” i JOE'S ‘SUCH a down-to-earth guy he could have: been | a farm-hand of the type who used toi help us Ohioans with the sugar beets. Now Joe makes Mario Lanza. pictures such as “Caruga,’ the whopper now making money, and has a Hollywood home with either 9 or 13 bathrooms—but he enjoys telling Bow he used to be broke. As a kid in Hines ry; he started making money

Joe Pastérnack

\ off his school teacher.

> & - THE TEACHER: liked booze, and used to send Joe out for about a quarter's worth. Jee would buy 12% cents worth and: fill the rest of the glass up with water. - Joe made 12% eents a trip. One day, Joe was sick. The teacher sent out another boy, who brought back a quarter's worth of booze. The teacher noticed the difference and demanded the truth from Joe. He was caught. He merely said, “I was trying to save your stomach.” » ow IN THE U. S., Joe worked as a bus waiter, shill, and cryer. He cried twice a day for a phony charity fundraiser who would hold meetings and point to Joe as a suffering refugee.

boy,

Joe bawled his eyes out till the phony got arrested. & oo : “ONE DAY,” Joe says, “I was down to a

nickel, I took a subway to look for a job and spent the nickel. I didn’t get the job. “Now I had absolutely nothing. “Y was walking along the street and I saw on the sidewalk & $100 bill! “1 stepped on it quick so nobody would see. 1 stood there on that bill for 20 minutes waiting to snatch it up.

Americana By Robert C. Ruark

NEW YORK, June 1—It just happens I know both writer Budd Schulberg and actor Joe Ferrer, who have beenron the fire recently over this Communist front-affiliation business, and personally I'like Schulberg fine. I like him a lot better than Ferrer, because Budd pleads honest juvenile alliance with the Communists while Ferrer just sits there and leoks innocent while he says: “Who, me?” We got an awful lot of who-mg. Communists around these days. These are the boys with the, sheepish expressions, who havé yoiked along the line for years until the man finally ° comes up and lowers the boom. Then the culprit hollers that he didn’t know it was loaded, flicks his eyelashes at you demurely and hints that ne was had. Schulberg says simply he was young and reasonably foolish, that he fell into the party because of the come-all-ye line they were hustling back in the post-depression days, and that he féll out when they laid the iron pencil on his literary efforts. This is somehow understandable, if not forgivable. It was fashignable for the young’to play pinkie at that time--and pinkie was being played pretty good in Washington to ht an example ‘for the immature.

o ed oe

THEN SCHULBERG quit. As a lot of others quit. And Budd went back to being a practicing

~capitalist, which he is today.

Ferrer, a fine actor, gives you the who-me treatment. He didn't know he was espousing communism when he sponsored Ben Davis for re-election, ‘as a member of the Oitizens’ NonPartisan Committee. He didn’t? Ben Davis ya a proud; loud member of the Communist Party. How dumb is » man who works for a political deal where the object of his affection carries a card a mile high? | Ferrer's- come - mith = me - to - Marx operations fil a’ hook in the subversive listings, some 18 in all, and most of the post-World War II. Nobody sin be that dumb, as Ferrer claims he was, that ? Ne

ned Last Night

.anti-Red Committee hear him . ..

Hungarian Producer ~ Has Money Know-How

“Finally I' bent down and grabbed it and stuffed it in my pocket. 1 hurried away toward a bank to change it. Imagine not .to have even a nicklel then to haye $100!

“WHEN I got in the bank I took the bill out. It looked kind of different. I turned it over. It was green and had $100 oh it, all right,

“It also had some printing that said ‘If you

> “want to look like a $100, wear Brown Brothers

double-breasted suits.’ “That's the. only gold,” in the streets.”

says Joe, “I ever found

Bo

THE MIDNIGHT FARL . Mayor Impellitteri probably won't admit it, but he asked Chief Murtagh to resign or*take a leave—and he flatly refused; saying there was no reason he should. Model June Harvey wants us to tell everybody it was a spoof—her story about Aly Khan being here, hiding out at the Warwick. Some folks fell very hard for the gag. A look-alike of the Aly’s known in Cdfe Society as “Manny the Moslemtov,” whom she first thought was Aly, convinced her he wasn’t, but she went on with the joke. Manny the Moslemtov told her, “I think the Aly is doing penance now in some mosque—probably washing out bottles.” ¢ oe o> <>

B'WAY BULLETINS: Mary McCarty'll go to Hollywood to do “Skirts Ahoy” for Joe Pasternack . .. Barbara Hutton lunched at the Colony t'other day—with her nurse . . . AGVA threatens a strike vs.,the Catskill hotels unless they agree to hire 12 acts a week . . . Gloria Vanderbilt Stokowski was dancin’ at Elmer's (El Morocco) with old friend Cornelius Vanderbilt Whitney . . . Lionel Stander’s been DEMANDING that the Nancy Andrews was rushed into the Blue Angel to sub for Mildred Bailey whd’s ill . . . Joe Frisco came to NY to do TV after M. Berle asked him whether he was tied up. “Tied up!” said Joe. YIf I don't work soon, I'll be LOCKED up!" el ade FARL'S PEARLS . Lisa Kirk says she'd rather be right than be a televigion critic. . * ¢

GROUCHO MARX actually did it. Tapped a bride on the shoulder as she came out of the wedding ceremony and said, “I tried it twice— it's no good.” . . . That Earl, brother.

"Who. Me?” Reds Get Going Over From Bob

many times. Not even in the acting or writing business. You got to know what you're doing if you're doing it 18 times. . . So THEY SAY that actors and writers are too damn’ dopey to be let loose in the streets, and this. could possibly be correct, except most of the ones I have known are half-fox and half-weasel when it comes to billing or a buck. If they hooked on to a baddie they probably figured there was a point for them somehow, for pure and selfish gain. Some worked for the artist-and-writers projects that the old WPA sponsored, and got infected in «the process. But it was a selfishly inspired infection. But do not tell me that Ferrer is young enough to be as innocent of compulsive involvement as was the young Schulberg. Or that, as a man who acts. so fine and directs so ‘well, that hé didn't know what he was doing when he hooked up with Davis and went for the Communistabducted, Henry Wallace foolishness and all the semi-obscure others. 1 am a reasonably obtuse boy and even I could see the gimmick at a long, long rifle shot. wi THIS TS not, nor ever will be, a sympathetic piece, bécause even as a youngster in a Commu-nist-ridden college, could I dignify the necessity of battening oh to an ideology when all a young guy had to do was go out and callous up his hands with work. There never was, and never will be, a committee which can atcomplish anything for an individual that cannot be done better by the individual, if he is awful serious about what he wants to do. 4 Joining anything is*stupid in the first place. Joining things you don’t know about is stupider. And joining things you gotta le out of later is the stupidest thing of all, as I suspect Senor Ferrer) is realizing momentarily. red said, I have no real deep feeling for Fe Schulberg or Ferrer. I can understand a little of what pushed Budd-into the machine, because it was all around me at the time. But some of ‘us didn’t run off to the arms of Papa Marx, even under heavy economic pressure. For Ferrer's plight, nothing. Any aan who joins 18 anythings has got #n angle,

/

on the rope-and came so close to the thundering reef that we ' caught a glimpse of the glassgreen wall of water that was | rolling away from us and saw | how, when the seas sucked themselves back, the naked reef | exposed itself, recembling. a | torn-up barricade of rusty‘iron { ore.

+

= » ~ AS FAR AS we could see

along the coast there was no | gap or passage. So Erik

| trimmed the sail by tightening °

| the port and loosening the star- ! board sheets, ‘and the helmsman | followed with the steering oar, | so that the Kon-Tiki turned her nose out again and tumbled away from the danger zone till her néxt drive inward.

Each time the Kon-Tiki stood in toward the reef and swung out again, we two who were in tow in the dinghy sat with our hearts in our mouths, for each time we came so close in that we felt the beat of the seas becoming nervous as it rose higher and fiercer. And each time we were convinced that this time Erik had gone too far, that this time there was no hope of getting the Kon-Tiki out again clear of the breakers which drew us toward the devilish red reef.

But each time Erik got clear with a smart maneuver, and the Kon-Tiki ran safely out into the open sea again, well out of the clutch of the suction. All the time we were gliding along the island, so close that we saw every detail on shore; yet the heavenly beauty there was | inaccessible to us because of the frothing moat that lay between.

About 3 o'clock the forest of palms ashore\ opened, and

U.S. A.: The Permanent Revolution—

Wall Street Hits

CHAPTER SIX

THE DECLINE of Wall Street actually began long before the réforms of the New Deal. It began when corporations grew rich and indepenrent.

The rights to their profits, of course, were vested in the stockholders. But their managers | saw no point in paying $20 a share in dividends on their stock when $10 was enough to sustain the company’s credit | rating. : | They also reasoned that it was they, and not the stockholders, who were directly responsible for the. oProfits. So they began to hold” back on the stockholders and put the money into corporate reserves.

Wall Street did not feel the change at first. In the boom of the 1920's the issue of new securities passed the $500- | million-a-year mark, and a rich time was had by all. But even then the bulk of | the Street's effort was going into the buying and selling -of old issues, ‘the promotion of | dublous foreign bonds, and the | lending of money at, say, 7 per | cent for the speculative pur- | chase of stock paying, say, 5 per cent. Even then corporations were putting up to 10 times as much money into their reserves as all companies were raising in new stocks and bonds. The de-

issue function even harder than it hit the trading function. High income “taxes and the growing corporate practice of . financing new issues through insurance and trust companies trimmed the new:issue Business almost to the, ating pout.

pression hit the Street's new-

NINETEEN

AT.2 O'CLOCK we had come so close that we began to sail along the island, just outside the baffling reef. As we gradually approached, we heard the roar of the breakers like a steady waterfall against the reef, and soon they sounded like an endless express train running parallel with us a few hundred yards from our starboard side.

thtough a wide gap we saw.

right into a blue glassy lagoon. But the surrounding reef lay as compact as ever, gnashing its blood-red teeth ominously in the foam. There was no passage, and the palm forest closed again as we plodded on along

the island with: the wind at eur

backs. }

Later the palm forest became thinner and thinner and gave us a view into the interior of the coral island. This consisted of the fairest, brightest salt-water lagoon, like a great silent tarn. The seductive, green palm {sland itself formed a broad, soft ring of sand round the. hospitable lagoon, and a second ring ran around the whole island — the sword which defended the gates of heaven. » ” ”

ALL DAY WE zigzagged along Angatau and had its beauty at close quarters, just outside the cabin door. a Landing or no landing, we had nonetheless reached Polynesia; the expanse of sea lay behind us for all time. It happened that this festalday off Angatau was the ninetyseventh day on board. Strangely enough, .it was 97 days that we had estimated in New York as the absoiite minimum time in which; in theoretically ideal conditions, we cculd reach the nearest islands of Polynesia. About 5 o'clock we passed two palm-roofed huts which lay among the trees on shore. There was no smoke and no sign of life. en : At half-past 5 we stood in toward the reef again; we had sailed along the whole south coast and were getting near th west end of the island, and must have a last look ‘round in the hope of finding a passage before we passed. The sun now stood so low that it blinded us when we looked ahead, but we saw a little rainbow in the air where the sea broke against the reef a few hundred yards beyond the last point of the island. This now lay as a sithouette ahead of us. : On the beach inside we de-

tected a cluster of mot § Sun | black spots. Suddenly ope of: *° . them moved slowly down t6-

+ ward the water, while several of the others made off at full speed up to the edge of the woods. They were people! We steered along the reef as close in as we dared; the wind had died down so that we felt we were within an inch of getting under the lee of the island. Now we saw a canoe being launched, and two individuals jumped on board and paddled off on the other side of the reef. Farther down tney turned the boat’s head out, and we saw the canoe lifted high in the air by the seas as it shot through a passage in the reef and came straight out toward us. . = = ® 2 THE OPENING in the reef, then, was down there; there was our only hope. Now, too, we could gee the whole village lying in among the palm trunks.

EDITOR'S NOTE: This is the sixth article of a series giving a new definition - of America of the Mid-Twen-tieth century. Mr. Davenport is the well known writer and editor, former personal representative of Wendell Willkie, . These articles are from’: the book, U. 8S. A: THE PERMANENT REVOLU- ' TION, just published by Pren-tice-Hall. . :

Except 3 as its "orinions still influence investment policies, « Wall Street today exerts only a fraction of the power it once wielded. Industry now’ plows back 60 per cent of is profits, as against 30 per. cent in the 1920's, and the bulk of money used in capital formation comes from Corporate earnings or from internal sources such as. depreciation. The largest brokerige house on the Street, acco 10 per ‘cent of the stock ing on the Stock a is Merrill Lynch, Pierce, Fenner & Beane, 90 per cent of whose customers are small-fry out: of -towners. ” > ~ : THE DYNAMIC 1eadership of the economy had moved to the big corporate offices in ego New York, Schnectady, ARO. Pittsburgh, and points ‘West and south, : ‘It is indeed hard to ‘believe that only 39 years ago J. P. Morgan, the one-man center of. the American business universe, was candidly ‘laying his cards on thestable at the Pujo investigation: “I like a little competition, but I like. combination better . . . Without control you

cannot do a thing.”

4 ” ¥; = . THE CATACLYSM of the de- * pression, which forever broke

rust - red.

But the shadows were already growing long. The two men in the canoe waved. We waved back eagerly, and they increased their speed. It was a Polynesian outrigger canoe; two brown figures in singlets sat paddling, facing ahead. > The canoe bumped against the raft's side and the two men leaped on board. One of them grinned all over his face and held out a brown hand, exclaiming in English: “Good night! “Good night,” T replied in astonishment.” English?” The man grinned again and nodded. “Good night.” he said. “Good night.”

This was his .entire vocabu-

lary in foreign languages. A “Angatay?”’ I asked, pointing toward the island. “H'angatau,” the man nodded

affirmatis ‘Erik no d proudly. He had been i We were where the

Be that we were. J 2 Bi MT tried. According to. my knowledge acquired on Fatu Hiva this should mean approximately, “Want to go to land.” They both pointed toward the “invisible passage in the reef, and we laid the oar over and decided to take our chance.

‘ - = = AT THAT MOMENT fresher gusts of wind came from the interior of the island. A small rain cloud lay éver the lagoon. The wind threatened to force us away from the reef, and we saw ‘that the Kon-Tiki was not an-

swering the steering oar at a”

wide enough angle to be able to reach the mouth of the opening in the reef. We tried to find bottom, but the anchor rope was not long enough. Now we had to have resort to the paddles, and pretty quickly, too, before the wind got a fair hold on us. We hauled

*

apart the old business universe, also heaved up the bright new stars of the unions and the

- farmers.

With between 14 and 16 million members in labor unions, labor leaders now enjoy the kind of industrial power that has not existed since the time of Morgan. It 18 true that labor is not legally regarded as a commodity and certainly cannot be compared to an electric motor. 1t"i8 moreover elementary humanity that labor should not be regarded only as a commodity. But the price of labor. is as vital as the price of anything else to the 60-odd million wage

earners (including u members themselves). An unjustified rise in t

cost of labor affects them precisely as does an bein” fied rise In the price of commodities. And in the unions’ “ability to force a decision on who makes what and who _ gets what, labor patently exercises as much or more economic power than: business

+ CAR,

fe » » THE POLITICAL power of the farmer ig hardly as formidables. Represented in Congress out of proportion to his numbers the farmer has been cham--pioned by legislators’ and bu: réaucrate who have effectively

. insulated him from the law of

supply and demand. By restricting output, fixing prices, and storing up surpluses at government expense, they have done for agriculture what a watertight cartel would do for a group of manufacturers of widely v efficiency. They have not only saddled

_ the public with high prices, they

have, of course, tended to prevent American farming from becoming © as efficient as it ought to be ‘and canfbe.

“Do you speak .

down the sail at top speed and each of us got out. RiaLDIg.

% vanted to give an extra paddle to each of the two natives who stood enjoying the cigarets they had been given on board. They only shook their heads vigorously, pointing out the course, and looked confused. 1 made signs that we must all paddle and repeated the words, “Wait fo go to land!” Then the most advanced of the two bent down, made a cranking motion in the air with his right hand, and said: “Brrrrrrrrrer--!” » » »

THERE WAS no doubt whatever that he wanted us to start the engine. They thought they were standing on the deck of a curiously deep loaded boat. We took them aft and made them feel under the logs to show them that we had no propeller or screw. They were dumb-

he Decline

For they have spread a price umbrella over the farmers that has enabled the worst of them to do all right and the best of them to make fantastic and undeserved profits. In terms of deciding who makes what and who gets what, it is one of the most powerful blocs in American history. "n n »

AND WHERE, in this re. grouping of U. 8. economie power, do we find the sense of responsibility that ought to go with the power if the nation is to increase its productivity? Labor, with a few exceptions, does not yet show much of it, and agriculture shows even less. The only place it can be found in any force is in the individual business enterprise, which now has ‘the initiative that might have remained in Wall Street had mot the transformation

taken place. The manager of industry is’ becoming a professional in the sense that like all professional men he bas a responsibility to society as a whole, This is not to say that he no longer needs good, old-fash-joned business sense.” He does, and more than ever. The manager is responsible primarily to his company’ as a profit-earn-ing mechanism, and current talk about the corporation as.a nonprofit institution is more than a little naive. Any businessman would rightly suspect a colleague who, allowed he was. in. business not

to make money. The modern _enterpriser should bé in busi-. ness to make money. Hig ability

fo make money is the prime measure '- of his ‘companys

& » >

“The Kon-Tiki approaches land? “The Frandh-tricolor wes hoisted at the truck as the crew steered toward the French islard od of Angatau.

founded and, Pe out their Agere. Oy Lng EI J 0

we sat—four men +, : side 10g, dipping our paddies into the - water. “At the ‘ same - time the sun sank t into the sea behind the point, and the gusts of wind from interior of the island freshened. - It did not look as if we were moving an inch,

The natives looked frightened, jumped back into the canoe, and disappeared. It grew dark, and we were alone once more, paddling desperate- ! ly so as not to drift out to sea 3 again.

TOMORROW — Natives in’ BR canoes fight a losing battle against the wind when they try to tow the Kon-Tiki to shore. And the raft drifts out to sea, leaving one of the crew on the island. PaciBe he R MeNaily % Co. IT 1 0" b

Heyerdahl (Dist and Tribune Syndics

he Th

If it cannot prosper on the service it supplies to society, or if it cannot persuade society to pay it enough to prosper, it does not deserve to stay in business. Moreover, the good, efficient manager likes to make money, and it is mainly because he likes to make money that he does a first-rate job. As the Russians have discovered, when the profit motive does not exist it has to be invented.

SUNDAY: American Labor.

(Copyri 1951. Time, 1 Distri uted by Wriced Feature * Brndicate, yy

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