The Daily Banner, Greencastle, Putnam County, 31 May 1967 — Page 12

Pag* 12

Tha Daily Bannar, Graancastla, Indiana

Wadnasday. May 31 f 1967

Expect Summer Corn Prices To Fall Below Last Year

By Larry D. Hatfield WASHINGTON UPI — Government farm economists say com prices probably will continue to run ahead of a year ago for the rest of the spring, but are likely to fall below last year’s levels during the summer. An Agriculture Department report on the feed situation says that during the remainder

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of the current marketing year, prices will be especially sensitive to progress of the new crop and the level of use. With a favorable growing season, the report says, prices this summer probably will be somewhat below the average of $1.32 per bushel received in JulySeptember, 1966. Com prices have made practically no seasonal rise during the current market year, which started last October and runs through September. This year’s stability contrasts with increases of 10 to 15 per cent from November to April during the past three marketing years. The average price of $1.26 per bushel received by farmers during April was 7 cents above a year ago, but 3 cents below the current marketing year’s peak in December. Prices for other feed grains also will be considerably Lifluenced by prospects for this summer’s crops. The report said that larger stocks now in prospect will lend more stability to prices than would have been expected with the smaller carryover indicated earlier this year.

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The government is now predicting a carryover of 31 million tons instead of 25 million tons, as was forecast earlier. The report said non-government feed grain stocks are 18 per cent larger than a year ago and appear large enough to meet expected domestic and export demands. With an average growing season this year, farm officials say these larger supplies will tend to limit any seasonal rise in prices this spring and summer. Prices of feed grains—com, barley, oats and sorghum—declined during most of April, but recovered late in the month and in early May to remain generally above a year earlier. The mid-April index of prices received by farmers for feed grains was 8 per cent higher than in mid-April of 1966. Prices received by fanners for feed grains averaged about 12 per cent higher during the period from October to April than the same period a year earlier. Prices for the period were the highest since the 195455 marketing year. In a look at early prospects for 1967 feed crops, the department says field preparation and seeding of feed grain crops has made near normal progress this spring in most areas of the com belt. Average or above average rainfall over much of the com belt during April provided adequate moisture for the growth of hay crops, pastures and small grains.

Wall Street Chatter

NEW YORK UPI — Newton D. Zinder of E. F. Hutton & Co. says last Thursday’s market advance, when the Dow Jones industrials climbed 8.29, “was primarily technical In nature. The relative steepness of the rally was one sign of this but the reduction In volume definitely cast some doubt on the validity of Thursday’s strength,” Zinder says. "Some of this lower volume probably was due to natural hesitation after the recent sharp decline and the still uncertain international situation. . .

Leslie M. Pollack of Reynolds & Co. says "the threat of tight money has once again reared its ugly head in Wall Street. The -situation in the bond market is as confusing as we have ever seen. Short term money rates keep dropping while long term money rates have gone up considerably. It is hard to believe that the administration and the Federal Reserve Board will permit a repetition of last year’s money panic.” Pollack says, “at this time, we do not regard the threat of tight money as a good reason to sell common stocks.”

Arthur Wiesenberger & Co. says that “uncertainties overhanging the stock market have been increasing rather than diminishing.” “We suggest continuation of a cautious investment policy,” the company says.

GIRL WANTS TO BE SPORTS WRITER ST. LOUIS (UPI) — Patricia Marie Buckner, 18-year-old high school senior, daughter of a mail truck driver, has won the annual St. Louis Post-Dis-patch scholarship to the University of Missouri School of Journalism. Miss Buckner said she wants to be a sports writer. “If you work for something hard enough, there is a good chance it will come,” she said.

CONTRACT BRIDGE

By B. Jay Becker pup IbcbhI Haidar ti» Mastf** Individual Championship May)

East dealer. Neither aide vulnerable NORTH 6 A10 85 U . ♦ KQ54 <598732 WEST EAST G J3 4KQ974 VAK109658 VQJ742 ♦ J86 ♦ A10 *J64 SOUTH 462

*8

4 A108782

*AKQ5 Die bidding:

Baat South West North 1A 2+ 2 * Pass (!) 3 ^ Pass 4 V 6 4 5 4 Pass Pass 6 4 Pass Pass Dble Opening lead—jack of spades. This hand was played in the Masters Pair championship in England in 1963. The bidding shown occurred at the table where Nico Gardener and Albert Rose, well known international stars, were respectively

North-South.

East opened with a spade. Most players, using standard methods of bidding, would probably pass the hand, but East was playing the Acol system, which places a high premium on distribution, and felt more or less obligated to open the bid-

ding.

Rose made ft normal overcall

of two diamonds and West came in with two hearts. North’s proper bid at this point is highly debatable; there are perhaps four or five different bids North could make to reflect his support for the diamond overcall. But Gardener felt he was not yet in good position to judge how far to go in diamonds, and he elected to pass! He wanted to hear more about what everyone had to say. This unusual maneuver eventually worked out well when Gardener Inched his way into six diamonds, which West doubled and which Rose made with an overtrick. West should probably have bid six hearts (down two) instead of doubling, even though it was hard for him to tell that his partner would not take a trick after having opened tha

bidding.

In general, in the doubtful situation West was confronted with, it pays to go on bidding even though you are sure to go down and it might turn out that the opponents could also be defeated. You do this because you are willing to pay a relatively small premium to avoid a large loss. In other words, you bid one more for luck in doubtful situations. None of this, of course, Is meant to take anything at all away from Gardener, who made a highly imaginative first-round pass and was ultimately rewarded for it with 1,190 points.

Russia, China Agree On Policy in Vietnam

(G 1867, King Features Syndicate, Inc.)

Indiana Records Six Drownings By United Press International Indiana counted at least six, and possibly seven, drowning victims over the long Memorial Day weekend. Four of the victims were children.

James R. Palmer, 35, Fort Wayne, was found dead in about five feet of water Tuesday at Adams Lake near Wolcottville in LaGrange County. Authorities said an autopsy was to be performed to determine if he drowned or died of other causes. He was scuba diving about 100 feet off shore when he died. The body was recovered by a companion, Fred Bell of Fort Wayne. Stanley Fox, 22, Kout, drowned Monday night when he fell from a fishing boat on the Kankakee River near Kouts in Porter County. Glenn G. W a n s t r a t h, 6, Batesville, drowned Sunday in Lake Santee in Dectaur County. Robert E. Daniels, 26, Muncie, perished Sunday when he fell from a pontoon boat at Prairie Creek, Reservoir southeast of Muncle. Four other persons on the boat could not rescue him. William K. Wickliff, 14, R.R. 4, Franklin, drowned Saturday while swimming in Sweetwater Lake in Brown County. Darrell Barker, 9, Indianapolis, drowned Saturday while swimming in Longacre Park’s swimming pool at the south edge of the capital city. Theresa Andis, 11, Greenfield, drowned Saturday while swimming in a gravel pit northwest of Greenfield.

"One officer started shooting,” he said, "in hopes that when we came outside, they could shoot us down in the street.” When no one left the apartment building, Carmichael said, police broke in and "placed bottles in there so they could accuse people of making Molotov cocktails.”

The famed Blue Grotto, on the island of Capri, derived it name from unusual blue light permeating the cave. Source of light is a submerged opening.

By K. C. THALER LONDON UPI — Russia and Red China, deeply divided on policy and ideology, appear at present to be agreed on one major objective: The United States must not be allowed to succeed in Vietnam. This approach reflects a marked scaling down of earlier boasts by either of the Red giants that the Americans will be defeated and ousted altogether from Asian soil. The target has been narrowed to preventing an American military and political victory in Vietnam which could topple the Communist regime of President Ho Chi Minh and severely damage both Moscow’s and Peking’s credibility as reliable allies. The Russians have thus been saying lately that they cannot stand by and watch the destruction of Vietnam and the imposition of the American will on Hanoi. Communist party chief Leonid I. Brezhnev pledged that Russian help will be “fully in proportion with the need for an efficacious resistance to the insolent imperialist intervention.” The offer did not speak of aid for the “destruction” of the Americans. In Peking, Premier Chou Enlai, in an interview, pledged Red China’s determination that “the Americans will not succeed” in Vietnam. While agreed on the objective of not allowing an American victory in Vietnam, Russia and Red China appear however to be prompted by different motives. Red China seems increasingly worried about her own safety and desires to have Vietnam as a buffer between herself and the American forces. For this she is prepared to fight to the last Vietnamese. In the war in Vietnam also at stake is Peking’s theory that

wars of liberation pay off and lead, of necessity, to the overthrow of the “imperialists.” Moscow has long dropped the pretense that liberation wars must be supported by the Kremlin for the sake of the purity of Marxist-Leninism. In wanting to prevent an American victory in Vietnam the Kremlin appears largely motivated by the desire to weaken the United States, to prevent its consolidation in Asia and to be able to show its friends in the movement that Moscow is a reliable Communist ally. It is also holding out hopes for the Kremlin to strengthen its own foothold in Asia which has been shrinking dangerously. Russians angrily deny suggestions that the American intervention in Vietnam is indirectly helping them to keep the mounting Red Chinese threat under control. But in effect Moscow appears to be straining to increase its fading influence in Asia which it can only do at the expense of Peking.

The Beauty Of The Annuals LAFAYETTE—Annual flowers are the bright and practical ones. Petunias, marigolds and zinnias, the most popular of the group, are at home in a formal border landscape setting or in an informal flower bed. Purdue University extension horticulturist E. R. Honeywell says the annual flowers have a number of distinct advantages. They are low in cost, whether they are purchased as seed or from the florist, and they are easy to grow. The continuous flowering habit of annuals, of course, is one of their best traits. While others may only bloom for a week or 10 days, most annuals flower from early summer until fall. ” Honeywell says the most common mistakes made in growing annuals is to plant tender ones too early while planting others too late, planting seeds at the wrong depth and planting too thick. It’s hard to make a general rule for depth of planting, he says, but larger seeds should definitely be planted deeper. Plant a seed about three times as deep as its greatest circumference.

LADIES NIGHT Wednesday, May 31st AMERICAN LEGION POST No. 58 Promptly at 8:00 P.M.

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JUNE IS BURSTING OUT ALL OVER WITH * ★—

Charges Police Started Riot NASHVILLE, Tenn. UPI — Stokely Carmichael accused police Tuesday of trying to assassinate him by starting a racial riot in hopes of making j him a street target for police i guns. Carmichael told a news conference that 100 policemen blocked streets in the area where he was staying during last month’s rioting at Fisk University.

REPRINTED PUTNAM CO. HISTORY, 1887 Now avtilablo in Library Binding also will be available in Paper Binding . Also Reprinted Histories of Henry, Wayne, Carroll and Rush Counties. Write for Brochuro: R. T. MAYHILL 27 N. Jefforson St., Knightstown, Ind., Ph. 345-5134

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