The Baytown Sun (Baytown, Tex.), Vol. 44, No. 93, Ed. 1 Monday, December 10, 1962 Page: 4 of 16
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Stories
i ness
Business news splashed over the front pages this
war—stock market antics, tax cut talk, government-
business skirmishes. Here, just one pap
are the 10 top business stories of 1962.
1. Stock Market What was happening on the mar-
ket—and why—fascinated millions this year, and
pinched a lot of them. After a long slide, prices broke
sharply at the end of May, making a bigger clatter
than at any time since 1929. Then in the fall, after
Russia backed down in Cuba, the market started
back up just as spectacularly and causing just as
much second guessing.
In between, official and inside probes of the ex-
changes kept the market in the headlines. And a sur-
vey of the workings of mutual funds is still hotly
debated—by the funds, by officials, by fund share-
2. Steel Price Donnybrook. When President Ken-
nedy quashed a price hike by the biggest companies
in April (with an assist by some a bit smaller) the
big story quickly became: Is government anti-busi-
ness? And then, is business anti-Kennedy? Through
the rest of the year there were attempts to patch
up any lingering ill feeling. The government offered
guidelines aimed at keeping prices from taking an-
r
' ■ >
. -1 • -
* ' s r,
81?
'@$SSS2m
I
other inflationary^spurt and wages from^exceeding
moot whether the guidelines would hold if competi-
tive factors didn’t police the price-wage spiral.
3. Taxes. Whether to cut them, how much, for
Whom, and when, kept the administration, Congress
and the taxpayers in a flurry—with the answers still
up to the new Congress taking over next month. Ex-
pehi»~a©count reporting is being tightened- to the
dismay of many. New rules for figuring depreciation
credits are being tried out
-X 4. Recession.. .When, .business. Activity increased
less than first predicted- fears of a recession sprang
Washington Report - -
«ASSIST.*
teresting difference between the
way Bobby
,h,tolA!!2s!S
way the Republicans handled it
When Rep. da
By FU.TON LEWIS JR.
. WASHINGTON - The Soviet
Union faces a new and ominous
gap.
Unless Premier Khrushchev can
Rep. Clare Hoffman, the
crusty Republican Congressman
from Michigan, stumbled onto the
fact that Mrs. Hoffa and Mrs.
Bert Brennan had received a
trucking company, Test Fleet
Inc., after the settlement of a
wildcat strike against commercial
carriers, the investigations of the
facts in the case woe suddenly
hushed up.
Those who bushed them up were
such top leaders of the Republi-
can party as Arthur Summerfiekl,
postmaster general, die GOP com-
mitteeman from Michigan, and
Rep. Charley Halleck, Republi-
can leader of the House.
I reported this in some detail
eight years ago.
"In return for
dose tills gap. the computer gap,
: Union seems doomed to
the Soviet L
second-class status, militarily and
vention, is the key to an indus-
trial society, the key to a modern
" e. Deuse L. Bib-
quashing the
probe,” I reported on April 11/
- r ‘ ..... “
! Teamsters Union in flp@;
troit is to support Sen. Homer
Ferguson for re-election.”
Attorney General Kennedy has
now dusted off this old ease, and, ■
with commendable zeal, is prose-
cuting Hoffa in Nashville for a
deal hushed
up by the Republi-
cans right years before.
However, the big question is
whether young Kennedy’s zeal has
not taken him so far that any
conviction would be reversed in
the higher courts. Judidai doubt
on this point is raised by two
things; •
copying machines. The dictaphone
tore.
Summing up, Eckert makes too
following points:
1. Russia’s start to the electron-
ic data processing field was stow
and she is several years behind
toe United States.
2. There are at least ten times
as many computers in the United
State® asHh the Soviet Union.
3. Russian computers are inade-
quate and obsolete by U.S. stand-
ards. . *.
4. Russian space feats, while
spectacular, have not required
many computers, or fast ones. On
toe other land, Soviet economic
planning does require tost com-
puters that are now unavailable.
5. Marxist ideology holds back
Soviet progress. Government ac-
tion must rest on the unshakeabla
bans of Marxist-Leninist econom-
ic theory. Because Of this and
other encumbrances, until a few
dent of 'the Univac Division. He Jears ago even mathematical log-
plex jobs! while themajority of £ brtog about transition from
the 800-800 Russian systems can umt*
only deal with more restricted and '
eenerallv simDler emblems ” ~ .NOTE: Hie official Soviet jooro*
ST£"!S&. - **
Rand's Remington Rand Diviaon,
puts it- this ay:
"One top U.S. physicist with an
advanced U.S. computer can out-
produce 1,000 Russian engineers."
The Soviet Union now lags far
behind the United States to com-
puter technology. There are at j
present
technology.
it only 600 to 800 electronic
computers to the USSR. The num-
ber to the United States is esti-
mated ahyhere from 8,000 to 10,-
000.
Another Sperry Rand executive,
J. Presper Eckert, is vice presi*
“2“d mmlS? S*«f Met » *5?Tfto5l£l iB
ered by technicians of the com-
. I. THS :PRESBDING judgeim
toe Hoffa case, William E. Mil- completed a study on Soviet "ad- _
"SrSseS.—, Dissident Rumors Cut
trative procedures were drastieal- IJ • • 1,4 •*
univac, lined irom an aaveruse-
merit in Time m«gaztoe, Oct, 24,
an
c
bu
eV
be
40
to
evt
vei
m
Na
pic
cifi
per
T
fro;
Set
and
On
of
T
ciet
the
has
C
size
cost
tom
z
dan
“]
off
by i
VISITING DISC JOCKEY
ri Remedy to Nashville on June
29, after Hoffa had been indicted
and altar it was known that Judge
Jj? preside over
The Hoffa case,
attorney gener-
X*® and were fed by the stock market break. But busi
Miller was going
his prosecution. 1
according to the
not
atjras not discussed. However,
ness continue# fo turn In good,' ff not spectacular,
reports- Then the Cuban crisis revived spirits all
ground. The recession timetable was laid aside for
Abate sometime next year. *
5. Common Market Sudden public realization of
the growth of a powerful competitor in Europe
greased the ways for Trade Expansion Act. This
gives the President unprecedented powers to bai^ain
for lower tariffs, in some cases for no tariffs at alt
How Do You Stand, Sir?
My BARRY GOLDWATEB X K had been the case, even
W#SH!NGTON-«S*riaK*U
our greatest and most dependable
teacher. Thb has been true down
through the ages, and it is true
have been. compromised by the
of Soviet missile strength
threat of
in the W<
%is one is still a cliff hanger. *
6. The Dollar’s Good Name. A continuing deficit
\iB the balance of payments (more dollars goinj[
abroad than returning) and the consequent loss of
and fears the dollar might be devalued astound-
ly Americans, for years used to the dollar’s
today. ■
Experience is toe rode on which
conservatives believe all progress
must be built, since it is the
rock upon which all progress^iat
been
sum
been
that
country’s
would have
to bear in a way
have nullified this
jreatest weapon of
peace. And this might very "
have, left Russia free to
have fouiri oursrivasMripiriR in
ttehKtofatoinyfMtte.
On Krushchev’s part, it was a
well-calculated gamble for tactical
reasons of Ugh stake. Among oth-
«r.toings,it gave him an idea of
hi$ brother in the White House.
2. The extent to which the at-
ly changed by 1381,- every adult
in the Soviet Union would be
forced to work on paper — work
that should be done by oomput-
quired to handle accounting and
statistical work has increased by
30 per cent, according to one So-
viet specialist. This is not sur-
prising, for less than JO per cent
of Russia’* clerical ork is mech-
anized at this tone Oven to the
point of using simple adding ma-
chines.
The Soviets are short of type-
MatamorosTNrVhlfe
CARti) (AP)-The United Arab
Republic has lifted its baa or the
twist and twist records."
The government announcement
Thursday mid "freedom of the
arts’’ is ^replacing "censorship to
toe arts.”
The pverhmeht more toan «
year ago imposed an official ban
on the American dance on account
Of its "demoralizing effect on
'.-these who danceJt' i ' "Tj| im
The government also biSBed
the traditional telly dance last
year, but lifted that has after a
how the United States might react
Ǥ increased Soviet pressure on
world • In
Hoffa, might well cause a revers-
al under the
Berlin and other world - tension
SDfltlS.
______I Supreme Court’s de-
cision in Hale vs. Henkel. fei
In this important case, dating
that
being accepted as good as gold. Monetary pacts with
other nations w ' ' "
were worked out to discourage specu-
lative runs on the dollar. ,
7. Economic Growth, This became a household
; \
term this year. The question was how. to keep the
American economy growing as fast as the population
*o more people could have higher standards of living.
-
8. Treasury Deficits. A debate stirred the nation:
Was Tneasury red ink good because it stimulated
1 the economy, bad because it caused'future inflation,
a problem that could be disposed of by different
by differ
forms Of bookkeeping? The only thing decided for
wire was that the deficit grew in 1962 and will con-
tinue to grow in 1963.
£ 9. The Jobless. Even though employment totals
*: Increased, a hard core of those without work re-
mained. Some blamed automation for taking jobs,
X from people and giving them to machines. Union lead-
ers wanted a shorter work week. Management wanted
- more profit incentives tor expanding.; Government ‘
sought means of boosting the economic growth rate
to create jobs.
$ 10. Profit Squeeze. The total of corporate net
earnings increased. But profits as a percentage of right - «nd
national income declined, and the margin of profits ft very neariywas - te could, in
to sales were squeezed. Management charged pro- the space of
duction costs were rising too fast, taxes were too
high, and government policies prevented price rises.
* Business leaders talked of a gr
We now find ourselves at some
nndertermined point to the midst
of a crucial experience known aa
the Cuban criste And I suggest
that it to proper that we devote a
little time to examining what the
experience, thus far, has taught
The most sinister fact to come
out of the Cuban situation has
been toe strong reaffirmation of
Soviet-Communism’s determina-
tion to rule the world — a fact
which ante be causing those who
thought they detected a “roellow-
tog" process in the Communist at-
titude some tmwwpto of agonizing
reappraisal;:
-BfWWWW . WW-W-HWVf
in an aggressive fashiwi anywhere
on toe globe, knowing, as it*
would, that any indicated deci-
sion on oar part to employ SAC
could be denied us through the
threatened use of Cuban - based
missiles, t/
The decision of toe President to
act from strength to the Cuban
situation ■+ regardless of whether
you feel that he acted later than
he should k- probably staved off
. what corid have become in a very
short time a realignment of power
balance {^adverse that we might
Khrushchev gambled, an lw fir “the most valuable-functiOB of toe
quently does, but this time he lost
For once, st least, we called his
hand.
How do you stand, sir?
grand jury i* not only to examirte
into the *'
;
Bible Verse
AND SAID unto them, Thus it is
-written, and thus it brtwved
Christ to. suffer, and to rise from
the dead the third day. Luke 24;
Why did Russia bufld those mte-
ile bases? What
What tod she stand
to gain by this daring and provo-
cative action?
Remember that . Khrushchev
said only recently that we were
Try and Stop Me
By BENNETT CERF
: commission to crimes, but
to stand between the prosecutor
and the accused, and to deter-
mine whether the charge was
• founded upon creditable testimony
This opinion was based on the
fact that toe founding fathers in-
serted various safeguards into toe
fifth amendment --*• not merely
toe right ot the accused to refuse
to testify against himself., but also
the grand jury system whose pur-
pose was to reinforce constitution-
af guarantees for freedom ot
speech and Kuard against excess
ml in "political” cases.
ACROSS
V 3-Mwgtii
DESPITE THE activities of Hof-
fa and the disregard tor him in
many places. President Kennedy
and his brother gave this all the
earmarks of a political case by
stating on three different occa
6. Woodland
traU
tlbito
u a basket
20. Mistake
IS. Smithies'
Hook
23.Increase
to* bet;
14.a>ney.
*X'*
10. Equally
iiSSu4*1*
20. Brazilian
rubber Mi
•KINS FEATURE
fgA X aite-
3. Biblical Bom).
4.Lamprey
6. Penetrates
specters
of
Ohio ^is-
ILAacta* 27. Ss
•Ss “S.
giliiig
17. Star Jr
Oetw '
TT’IWTUCKY DERBY tons will not soon torget the furor stating on tim*Tdifferent occa-
.^ssrwsa,*.5s.ws smim=
had nothing to lose by testing his
theory in the crucible rtf war-
threatening tension.
. 23. Listened to ’
«J TThroM
Vnt* XXoTaoB
28. Inflaeoeed
I oif a grim foture.
Assignment: Everywhere
By HAL BOYLE
,
a few weeks, push
IRBMs into toe Western
re to destroy the years
and billions of dollars
which had gone into building toe
one force he fears — America’s
Stntagto Air Command.
Just for a moment suppose that
the detection of those Soviet mis-
through with a wild burst
of speed in the stretch
that carried him to vic-
■c fey. In the Derby, Silky
. ftarte* slowly, til right,
was his custom—but
any faster,
who had
tilsim/ fin ALa <1__li.
_______ niTTg k; me yTTiiL
lost a ootfuL
Silky Sullivan had alao
won the eye of thousands
of othejr spectators who
r» Impressed
by his
NEW . YORK...fAP)—No,is toa low. .who
T fe man’s finest hour. aren’t
i^Uations to
JFrsTtaBm^fiii
Tabernacle in Salt Lake City,
Sept. 23, 1960, for ihtttace, was
that “an effective attorney gen-
eral with the present laws that
we now have on the books can re-
move Hoffa. And I can assure you
that both my brother and myself
SS. Eject
MLT ......
tion.
88. in proper
share a very deep conviction on
1 Hoffa.
m.wSaL
38. Stone
coronation
steed
! festivities-
, 1 hero—the king ot the hill. The rest a party is fit around Christinas
ef the year he is a dumpy clown, that doesn’t have a jolly fat man
a figure-an oversized figure-of there, booming with laughter?
ridicule to Ms skinny inferiors. It makes otoer people ted good
tra tion had continued to cling to
its belief that all the Soviet build-
up in Cuba was strictly fix pur-
poses of “defense” and that any
action by us would alienate world
opinion. t
as ever turhed up at
Churdtill Downs. A groom walking the Calumet Stable's
underrated entry, Tim Tam, heard toe burst of applause
when Spiky walked into toe saddling enclosure, and mut-
tered angrily, "They’re gonna discover toe Derby ain’t no
beauty contest.” He was right Silky, as indicated, was a '
forlorn also-ran. Tim Tam won the race.
43.
48.
Illinois
the subject of
While carrying out a campaign
pledge is laudable, the courts
have been careful that political
campaigns must not interfere with
civil liberty.
And Attorney General Kennedy
has now convened an unprece-
dented number of social grand
juries to get Hoffa. The exact
H,, msA'isase#--—3? -
the hearings of the House and
Senate Appropriations Commit-
western
carefully
tees show that the Justice Depart-
ment asked for 1300,000 additional
appropriations for jurors’ fees
alone, to pay for these special
New York
, pay
grand juries.
i
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iky
4.
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40
H
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dent 0
C. L.
genera
iu*l G
Odes
return!
Scuthei
of an
tries ii
made
compax
branch;
This is the brief season when Unused to appreciation, 1
everybody truly loves a fat man man fells tor this accolade like a
because he to ’ '
kinditaess—the
TODAY'S GRAB BAG
By NAN JONES
Cantral PnstWrilm
looks lito those two hungry kid turned loore in a store
STefi
Claus.
m
harvest and human foil of all-day suckers,
pumpkin and Santa He bellies up to the wassail
bowl and drinks mightily. He
cm his necktie
the average man
£ Bake* everybody happy even spills more eateries cm 1
h to see a faf man come over their at lunch than the ave;
horizon fee a waddling cloud. He consumes in a day. Hq buffets the
is in the flesh so perfect an ‘
im- buffet tor a third huge helping as
\.1
age <( toe joyous spirit of the the other guests gaily urge him 04.
time. \ \ \Z with remarks hte, “Gome
with remarks like, “Come on,
come up to the have another piece of mince pi*.
‘ and “My, doesn’t it to your soul
such real
m nu cnuDpy stomacn ana say good to see someone get
fto^sJte' v- . X... . iA, Vte*m out of |hdngr»
’s a tot of go6d living in
f^t^ than money in
lari itr \ • a
"W«IL you’re a* least’ one fel-
On New Year’s Oaf. faring a
mountain of unpaid bills and worn
out by intenmerate
people suddenly weal
CIau« and toe holiday
Sljj Sagtoam S’utt
indulgence,
• of Santa
mood.
THE ANSWER, GUICKI fOUC OF KAME-GUESS THE NAME he was studying medicine whin
i Who was the last emperor__^ _. the Revolution broke out. Infht-
mm?
Bret Russian parliament? M 4 W w general of the Army. After toe
8. How many men reached ..... J Revolution ha became a proml-
the South Pole with Robert m nent merchant-farmer in Louis-
Scott on his fatal expedition? 11 vUle.
4. What organization waa m m There he took an oath of alls-
brought to the U. S. through % Ife'M glance to Spain, conniving with
the efforts ot a Chicago pub- them, as their "Number Thir-
Usher named William D. Boyce? Mgfl teen,” to detach tho western
6. Graybeck is slang for J| KpH settlements from the Union.
What? MHTl fl| Meanwhile, he became governor
of part of the Louisiana Terri-
WATCH TOUR IANOVAOS ^ ^ command cf toe
DISSOLUTION — (dia-e-, ............. American army in the area.
LOO-flhen) — noun; the act of
resolving into dements or parts;
ths resulting state; a breaking
up; dispersal; death; destruc-
tion; terminatlqn. Origin; Latin
I
Published aftorenotts, Moadsy toreagh Mdsy,
aa4 Sundays by The Baytown Sua, lac,
ad Pasrc* and Ashbel in Baytown. Texas.
ITS BEEN SAID
HL Bile.
Pendergrass
da* Jaektoa
■V
Editor sad Publish**
.Ctenersl Manager
mhmmmmhShr hsjr<m
r. B. Chopin.
.........Managing Editor
......Office Maneger
(fenw ........................ Ctrculatten Director
AJOVERTIBINQ DEPARTMENT
.........a.........
• ***** • « »••'• ••*••*•• <
...............Retell Msnagar
National Maaagwr
Rater
YOUR FUTURE
Cheek extravagance and be
cautions about change* in your
affections. Today's child will be
Kasth-glTA* p«r T«*»......■
turn 1RTHOAT.,. , ;
To aotor-tingtr Ben sis Mor*
PM; Vincent Lopez* bandleader,
and Donthp Lemour of fha
lama.
,^e,^e“ockRde,ll?*|W1th Aaron Burr he tried to
ner of our Civil War was the set up his own empire. Some-
gentleman at the left. Bom to
a Virginia naval commander in
1821, he served for a time un-
der the future Admiral Karra-
gut Hs \#s also assigned to
- - ‘ ■ - ■ ■ — • '
survey
duty along the
later.
His first! action was in
half-finished ironclad which was
set ablaze and run through
Union lines. With his next ship
he ran Union lines 21 times be-
fore capture. He continued to
2—Anotlwr famous American
3. Four!,”
bom in 1787 in Maryland, where -iim t*un^-z -aoraimiM swosSS131
hotV acquitted of his treasons,
he commanded New Orleans in
the War of 1812. He was Bill-
ing Bibles in Mexico City when
he died. Who was he?
(Names at bottom of column)
It HAPPENED TODAY
On this date in 1817 Missis-
sippi was admitted to the Union
as toe 20th state.
Twenty-Year Pain
In Foot Finally
Entfsin Surgery
Know Your Bridge
-By B. JAY BECKER
South dealer.
Neither side vulnerable.
AUSTIN (AP) - Miss Teresa
Hawryluk already has her Christ-
mas present. For the first time
in 20 years her foot does not hurt.
is
Last July 4, Miss Hawryluk ar-
rived from Poland to join her
three sisters and a brother. She
was a refugee from concentration
camps and communism. She
spoke no English. She walked
with a limp. Time and time again
she tried to tell her sisters and
brother something.
Finally the family was able to
kind. ThAdeal was pteyc
tournament in Ajhevffle,
North-South got to thr<
trump and West (Mre. >
MOW'D YOU MAKE OUTt /
1. Ddm Pedro II of Brasil,
forced off throne in 1889.
.A.
got a "stick” in her left foot in
a Polish concentration camp 20
years ago. Although the “stick”
was removed, her foot hurt con-
stantly and swelled from time tor
time, she said.
..._A doctor, began trestmente-bere,
but the pain remained. He kept
asking if she was sure the object
was removed. Finally an opera-
tion was ordered this week.
NORTH
, A A742
GQ10764*
WEST * EAST
|J 4 K10 8 68
RK6 f J93
910873 ♦ Q J6
4 AQ9 842 4J5
SOUTH
4Q9S
GA8
♦ AK92 • y
410768 J!
' The bidding: ■"
South West North Bast
14 24 24 / Pass
2 NT Pass 8 NT /
Opening lead—eight of dubs.
Some people have the idea
that an expert bridge player couldn’t do better
makes one sensational bid or
to the best of his ability, If lua
logic leads him to make a play
that could be classed
tional, that is not the
makes the play-*is
solely because “
features
, toe colorful
played in a
‘ n. a.
three no-
rest (Mrs. Marga-
ret Wagar, famed Atlanta ex-
pert) Mto9> * '•
’ -A7;
WASH
dents 0:
Cokimbi
Kennedj
Sen. 1
Mass., h
John F
Pennsyh
now of I
Sen.
house in
oldneigi
ident ai
early in
The rent
thesenat
town ad
threersta
eight of clubs.
Dummy’s king won the trick,
and on it East (Hal McDonald,
fif Atlanta) played the
“Khus
mats sot
the palac
Sfffi
play af£er»Motties=M»d-safes his ia..W!ih.ase jaoky-Ae.eetureed *-
After VA hours of surgery, two
finishing nails were removed
No. 3 fit__________ _______________
from the foot They were imbed-
ded against the bone.
How the nails got in her foot
and why they were not removed
W sttiHiidden behind » language.....-
and time barrier, but Miss Hawry-
Wt-fSftffltelflMS-
to learn to read and write English
—now that her foot does not hurt
any more.
points that way. Nothing could
be further from the truth.
The fact is that the expert ac-
quires his reputation chiefly
from one source—he makes less
mistakes than the next fellow.
He seldom does anything really
dramatic—he just plugs away,
hand after hand and decision
after, decision, trying to make
exactly toe right bid or play, as lead for the vital dub return.
Declarer then led a low heart
to the ace, and onrlt Mrs. Wagar
played the king! ,
These two plays fixed South's
wagon beyond repair. He
than continue
with hearts, and when East got
dub and South went down two.
But note that if McDonald had
failed to play the jack of clubs
on the opening lead, the suit
would have become blocked so
that it could not be run, and
note also that if Mrs. Wagar
had failed to'drop the kthg of
hearts on the ace, East would
not have been able .to .obtain »•
JS&BFXUgSUt-
the case may be.
W» Judgment
by extraneous • influences—he I them South would have had an
reasons things out coldly end! easy time collecting nine tricks,
<0 1963. Kins Feature! Syndicate. lae.)
',.7-
f •/>
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Hartman, Fred. The Baytown Sun (Baytown, Tex.), Vol. 44, No. 93, Ed. 1 Monday, December 10, 1962, newspaper, December 10, 1962; Baytown, Texas. (https://texashistory.unt.edu/ark:/67531/metapth1100671/m1/4/: accessed July 17, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Sterling Municipal Library.