Cooper Review (Cooper, Tex.), Vol. 81, No. 34, Ed. 1 Thursday, August 20, 1959 Page: 2 of 8
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August 20, 1959
7Y PUBLISHING CO. J. T. Toney and Richard
iahers E»rt side square. Cooper Texas. Phone 88.
class matter at the post office in Cooper, Texas,
Congress, March, 1897.
ursday.
for publication of notices of church activities
therings where no admssion is charged,
is charged or where goods or wares of any kind
le, the regular advertising rates will be charged
between news and advertising is the line which
tion of public interest from information dissemi-
N RATES DELIVERED IN DELTA COUNTY
1 59 1 Year $2.50 2 Years *4 50
N RATES, DELIVERED OUTSIDE DELTA CO.
I 1 Year $2 75 2 Years $5.00
WRIGHT PATMAN'!
WEEKLY
■V“l LETwjlER
OKI* SOVTMWfCI
THE NEW ISSUE OVER MONEY - DEMOCRATS LOSING
The Nation’s supply of money obligations make up a large per-
can be increased in either of two centage of all securities avail-
ways. The Federal Reserve can able to investors. Thus the in-
acquire Government bonds, or terest rates which the Govem-
other Government debt obliga- ment pays on its debt obligation
"ACER
ENT
TOR
Richard String!elow
J. Travis Toney
Kirby S. True
O’Conna Mora
James Allen
orial Comment
E IS REAL, LIFE IS EARNEST
were waiting for the announcement of some-
like “Don’t Work Week” or ‘‘Eat Anything
- starting with “Sundae Sunday” and in-
Tetrazini Tuesday” and such like - comes
Cooling System Maintenance Week” will be
refer to lying in the shade of the old apple
j long, cool glasses of this or that or even
son in the lake, stream or ocean. Not at all.
Maintenance Week calls for serious observ-
hilly-shallying or foolishness. You indulge
t your car. You - or your service man. who
about it - will drain out the tired dirty old
l:h the rust and stuff out of your radiator,
for leaks and refill the cooling system wtih
some fresh, new rust inhibitor.
tions which cost the Federal Re-
serve nothing The other method
is for the Federal Reserve to
amend its regulations so as to
make it possible for the private
banks to acquire more Govern-
ment bonds. This costs the pri-
largely determine all interest
rates, including those on home
mortgages, on small business and
farm production loans, and so on
The Administration began rais-
ing interest rates as soon as it
took office in 1953. and by 195".
vate banks nothing. Both meth- the famous high-interest year,
ods increase deposits of the pri- I market yields on Government
vate banks, and the effects are
the same except for what hap-
pens to the interest payments on
these bonds When the Federal
Reserve acquires them the inter-
est payments come back into the
Treasury and help meet the ex-
penses of Government. When the
private banks acquire the bonds,
the interest payments go into
bank profits. One of the big con-
troversies now is over which
method will be used in the
months and years ahead. Normal-
ly the money supply is increased
at an average rate of 3% a year,
which will be about $7 billion
next year.
The other big issue Is over In-
terest rates. Government debt
bonds had reached an everage of
3t£%. At present it has been
raised even higher, so much so
the Treasury claims it cannot
seel any bonds at the 4'4% rate
which has been the legal ceiling
since 1918 The President has
asked Congress to repeal the
ceiling.
Interest rates are Uke taxes.
Most folks don’t think of inter-
est rates as being important, but
they are. To illustrate, in 1952
farm income amounted to $15.3
billion, while personal income
from interest on loans was $12.1
billion. In 1959. farm income is
running $12.1 billion while per-
sonal income from interest is at
the rate of $22.2 billion. Natural-
ly wealthy people like the Ad-
ministration’s high-interest pol-
icy.
The Democratic C o n k r e * »
should have slammed the dinu
on any idea of raising the intei
est ceiling the moment the •.us
gestion was made 1ii>(«ni»I. the
Committee handling this matte
approved the President s hi
but voted to add an amendment
which makes a suggestion about
which method the Vederal Re-
serve should use for iliei easing
the money supply This amend-
ment simply says that if and
when the Federal Reserve brings
about increases in the money
supply, it should, to the maxi-
mum extent •feasible”, acquire
Government bonds rather than
ASC Farm News
1960 Farm Reserve
Application Date Set
crj
By JOE E. McCARROLL
I960 Conservation K«Nerve - A
request for establishing a Baste
Annual poi ac e rate for placing
land into the '.960 Conservation
Res. v\e prog,a:.....a\ be made __, .
the Co. > V S v’ office A, -j >^*r pxtenslon !*\\
gust 24 '.959 through September
10. 1959 Th.s sign up period is
The refeiendum relates only to
the Wool and Lamb market de-
velopment program. It will not
affect tiie continuation of the
payment program under the 3
In Years Gone By
TEN YEARS AGO
making it possible for the banks for a dollar ar.d cent per acre
to acquire the bonds. The amend- ■ onl> and no contracts will
ment makes no suggestion as to s giuxi at this t-.rr.e
how much or when the Federal in order to participate in the
Reserve should increase the mon- | ii»60 CR you must make this re-
ey supply, but the Federal Re- ^;.est at the tune specified above
serve Board and the Administra- To be eligible for a 1960 CR
tion have been making prop-- contract the owner must have
ganda to the opposite effect, say- owned the farm prior to IVoom-
ing the amendment is “inflation- 1 ber 31. '.956 (cash lease will not
ary.” Both the Federal Reserve qualify' and many other require-
and the Administration want . -rents that have not been re-
the banks to have the bonds Forlquired in past years If you are
a while it looked as though the t interested please call at this of-
Democrats would stand firm ar.d fice and we will be glad to ex-
insist upon at least this small plain them to you.
good amendment to a very big WOOL Growers To Vote in
bad bill It now seems, however. September - Sheep producers
that the Democrats will buckle | will have the opportunity to vote
under and accept a “compromise I in September in a nation w ide
amendment” which will allow the 1 referendum on the question to
banks to have the bonds. ’ continue to finance a Market de-
„ . .. , velopment program for Wool and
Increasing the monev supplv T . , ,
, . .. . ’ ‘ Lambs. This program has been
faster than increases in the out- . . . • ...
, , , , in effect since the wool incentive
' 1954 A
S • S5,nf.ra ' I deduction of 1 cent per pound on
..... But 1
The wool payi °nt program will
continue through the 1961 Mar-
M'tmg yeai which ends c« March
31, 1962 Voting in the referen-
dum w ill extend over the entire
month of September. Ballots and
instructions will be mailed each
producer before the first of Sep-
tember
with automatic
power control!
NEW 1960
LEWYT
POWERMATIC
VACUUM CLEANER
Mrs. T. J. Barnard has return-
ed home after a months vaca-
tion with her sisters and other
relatives in Huntsville and
’ Guntersville, Alabama.
fresh
FROM m
freezer
WHEN
FLAVOR
IS AT ITS
FULLEST
take place
nized to be
siding down increases in the
money supply to les? than the
Shorn Wool and 5 cents per
lewt. on Unshorn Lambs has been
An organizational meeting with the purpose of estabiish-
, , ... ... . , | ing a National Guard unit in Cooper has been called for Tues-
the man (if '>■ did k or \ou go into ...e jav jn District Courtroom. Brig. Gen. Clayton P. Kerr,
jath, put on > me •:e-’ 'tnes' arv* !t > Ui' Dallas; ar.d Lt. Col. J. W. Gibbs. Greenville, will bp present
^ for^sumrm?r^ ? ^ S°me * P t0 lead discussions to interperet the functions of the guard.
, are^faithful to their cars and have duly !, Grove/ Pickering was elected permanent chairman of the
;ual may expect to feel very superior through- ooara of supervisors of the Delta County Soil Conservation
ther to come and may smile patronizingly District Tuesday night. D. R. Black Jr., representing e e-
jther poor slobs who will be pulling S50 mii- can Gap-Ben 1 ranklin area, was elected vice-chairman. G.
jir pants pockets during the summer to re- Albright is secretary,
radiators that have caused breakdowns in Twenty-one Delta county students will be graduated from
over the map. ETSTC at commencement exercises Sunday. Cooper students
above, there is nothing glamorous about are Carl M. Mora, Harvie E. Bratton. Thelma Jo Combs, iso many bonds, to maintain the
Week, but, like long underwear, is is prac- James C. Wickersham, Harry C. Ward Jr., Don M. Jeter, 24% rate, that it increased the
William Chester Rogers, J. C. Winfrey, Kenneth M. Gant. ! money supply too fast and caus-
_ Regina P. Hurst, Lillian McKinney, Walter M. Trammel j ed inflation. The facts are just
and Thomas G. McVay. Other Delta county students are the opposite.
; Hershel E. Oyler. Enloe; Cleo P. Flenniken and Zonell Rus- Production dropped in 1946,
nhower reiterated to his press conference sell, Lake Creek; Afton Bell, Charleston; Johnny M. Scog- j because industrial plants were
rv is hurting itself by too much spending”, gins, John S. Porter and Tommie H. Boggs, Pecan Gap; and being reconverted from war pro-
et was. he said, “the minimum target”. He Yalta Scott Robnett, Klondike. duction. In the next 4 years,
ought to be paying off something on our ______ I through 1950. the Gross Nation-
u v : made from vour incentive pay-,
rate at which the economv tries . * . . „ ,
. ment in the Dast. As the wool
to grow restricts that growth.
ment in the past. As
world war II. ar.d up un- j I"""'1” I"*"”
. .. tended for 3 more years, it is i
til the beginning of 1951, the. . , * „ . ,
„ . , _ - ... . necessarv for producers to de-
, _ , , , ‘cide whether or not to continue
to buv Government bonds when-
• EXCLUSIVE POWER
DIAL!
• BIG EASY-ROLLING
WHEELSI
. BUILT-IN TOOL RACK!
• NO DUST BAG TO
EMPTYI
• FULL 1 H.P. MOTORI
$
NOW ONLY
ever necessary to prevent mar-
ket prices from falling below par
This maintained a maximum in-
terest rate of 24% The propo-
ganda then, and now, was that
the Federal Reserve had to buy
such a progarm.
more! (The facts show that peo-
ple have saved no greater per-
centage of their incomes when
interest rates were high than
when they were low.) The de-
mand for savings has increased!
(Demand for savings was a larg-
er percentge of the national in-
come in 1952. when interest rates
were low, than it has been in
any year since.)
LADIES - Watch this ad
every week for your name
MRS. JERRY HOLLINS
RED 2, Cooper Texas
Please call for your free
Quart of Dairy Queen
DflIRV
QUEEN
1101 XV. Dallas Ave.
69
95
We’re headquarters for
genuine LEW'YT
Speed Salts!
DUTCH’S
GAS SERVICE
PROPANE
Phone 105
butane
Cooper
[for office, school or home
d have these surpluses.” he said, and begin
a little at a time, reducing this debt, we
jtting down our expenditures for interest.
YEARS AGO | al Product (the real ouput of
Funeral services for Max T. Turbeville, co-publisher of goods and services not counting
The Delta Courier, were held Saturday afternoon. Mr. Tur- : price changes) increased 12.6%,
while the money supply was in-
creased only 8.5%.
In the next 4 years, beginning
with the “unpegging” of bond
prices, the Gross National Pro-
duct increased by 14.1% while
the money supply was increased
even more - 17.7%. In the past 4
years - 1954 through 1958 - the
GNP increased only 9.9%, while,
in spite of exorbitant interest
rates', the money supply was in-
creased by 14.9%.
Other false ideas: High inter-
e hope that the interest item could be kept beville was killed in an automobile accident near Royse City.
Rev. G. S. Sanders has tendered his resignation as pastor
ike the 1952 Eisenhower. It also brings to of the Methodist Protestant Church. Rev. Sanders will re-
ality that Congress was hasty in passing that i tire from the ministry.
' w. Just possibly, he might be better able Office:s for the newly formed Knights of Pythias named
the third time around - if it were not for ; this week were J. Glenn Turner, Jack Chesnut, Lewis N.
over foreign aid. school aid. plenty of Gov- Carrell, Ed Tucker, Kirby S. True, L. C. Dennis, Claude
to ovate for visiting dignitaries, extra-fan- Kinard Jr., A. A. Whitlock, O. N. Biggers, and Hubert Smtih.
like the Air Force Academy and atomic re- _ ___- ___
FORTY YEARS AGO
- The Lake Creek Mercantile Co. which opened up this
on Post says editorially; “We think that spring was destroyed by fire Sunday morning about two
itself is making a serious mistake in resist- o'clock. Fall merchandise had started arriving in the store
curbs on the use of picketing and secondary and the stock was estimated by the principle stockholder,
J. T. Boyd, as being worth $30,000 to $40,000. A small amount
stilitv to gangsterism under the guise of of insurance was carried,
collective bargaining is allowed to mount. Lt. Lonnie Gilbert, who is in the aviation department of
ing done to check the abuses, the outcome the army, is home on furlough. He was in many of the aerial
jion far more severe than any of the restric- battles over France.
?ested. It is time for statesmanship in the County Agent E. Thompson stated that army worms were
statesmanship that will move vigorously making their appearance in various parts of the county and
committed in the name of labor in order warned farmers to observe their progress closely,
fruits of unionism.” FirrY YEARS AGO
£A( Fri.-Sat. Only JLQc
D This Certificate is Worth $4,31 J/
rr\_- i 0_j ftQ,, ontitlpq the bearer to one of our genuine indestructible PRKSSURE
I1LLER TOUOTAININGTANT-TOUCH WRITING! NO MORF LEAKING! NO
MORE SHAKING! A lifetime Guarantee with each pen. One size only for ladies, men, bo>s,
pnd girls. Assorted Colors!
The Pen With a Lifetime Guarantee
ADD 10< FOR
MAIL ORDERS
IIOOTEN DRUG CO.
The Rcxall Store
COOPER, TEXAS
THIS PEN WILL
BE S5.00
AFTER SALE
est rates cause people to save
ense Command of the U. S. Air Force has
Capt. and Mrs. W. F. Ross have sent out invitations to the
* nation s railroads and their employees (or | marriage of their daughter, Laura, to L. E. Pickard of Pe-
red. In the words of Lt. Gen. Atkinson, its I ca^rT1a?’ bePl-
v cooperating in the Ground Observer WUl Lowry brough t 1,815■pound.of lint cotton to Cooper
to the extent it did, the American railroad 1 Wednesday and sold it for -76.(0 J. M Jetton was the buyer,
ore to the air defense system than any other ^ Wallace Thompson of Lake Creek lost a fine $175 mule
Tuesday when it became overheated while Mr. Thompson
was digging a pool.
Ed Hendricks has closed a deal to buy the Max Schott
property next door to R. M. Walker on East First Street. Mr.
Hendricks stated that he would not move his business from
Charleston until next year.
the nation’s industrial resources.’
WT MEXICO. CURRY COUNTY TIMES
r insurance, a home, stocks or bonds, or when
in a savings account, you become an investor
The money you save and invest supplies the
!ch industry thrives — builds new plants and
Wrvices . . . creates employment for the mil-
ericans who need new job opportunities every
MSSkWLi Z
SPARKS THEATRE
THURSDAY - FRIDAY. AUGUST 20 - 21
Teenagers, children and old folks, here’s the picture you must
see. Actually filmed where it happened -- in a hay stack.
“THE MATING GAME”
CinemaScope and Color
DEBBIE REYNOLDS TONY RANDALL
PAUL DOUGLAS UNA MERKEL
Comedy
Keep in touch
when you’re
on the go
SATURDAY. AUGUST 22
Never before such a cast in a Western picture
“LAW AND ORDER”
Technicolor
RONALD REGAN PRESTON FOSTER
DOROTHY MALONE RUTH HAMMOND
Comedy
mmer you wiU >ee telephone booth*
aging number* along the highways
more people feel the need to be
telephone wherever they go.
em wherever you go to call friends,
reservations, appointments or those
iuts changes in your schedule or trip.
in touch whan you’re on the go.
SUNDAY - MONDAY, AUGUST 23 - 24
Ride again the old River Boat down the Mississippi River
with all its colorful characters into society and the swell
homes of New Orleans
“THE MISSISSIPPI GAMBLER”
Technicolor
TYRONE POWER PIPER LAURIE
Selected Short Subjects
JULIE ADAMS
TUESDAY - WEDNESDAY, AUGUST 25 - 26
Want to take a trip of adventure and excitement? Then see
“ISLAND OF LOST WOMEN’’
JEFF RICHARDS VXNXTXA STEVENSON
DIANNE J ERGENS JUNE BLAIR JOHN SMITH
Two Chevy middleweights prove their rawhide stamina!
Top hands on high-country hauls!
Ask any trucker who’s been over
Wolf Creek Pass, 10,850 feet up
in the San Juans: a 9-mile pull to
the summit and low gear all the
way down. Mr. C. H. Phillips of
Alamosa. Colorado, has a 6403
and a 6503 Chevrolet truck that
are up over this route the year
round, taking sheep and beef to
pasture, later marketing the stock
in Denver. In less than a year,
his Chevy middleweight* have
averaged about 50,000 miles of
this kind of treatment-and
they’re going stronger than ever!
Watch Chevy trucks at work
out in range country. It’s a sight
to see the way they pack into
high-up mountain pastures and
handle through brush and rock
like a cowman’s favorite cutting
horse. Take any truck work for
that matter. Chevy middleweights
probably handle a bigger variety
of jobs than any trucks alive.
About anything you name, includ-
ing work that used to be reserved
strictly for bigger rigs. When a
truck’s built the way a Chevy is,
lean-muscled and rawhide-tough,
it takes to ugly trails the same
way most trucks roll over the
highway. It just keeps going,
without a big to-do, but looking
good every mile of the way. How
they do it is your Chevrolet deal-
er’s department. He’ll be glad to
supply details and specifications
on the type of models you need.
No job’s too tough for a Chevrolet truck!
See your local authorized, Chevrolet dealer
CANTRELL CHEVROLET COMPANY
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Stringfellow, Richard. Cooper Review (Cooper, Tex.), Vol. 81, No. 34, Ed. 1 Thursday, August 20, 1959, newspaper, August 20, 1959; Cooper, Texas. (https://texashistory.unt.edu/ark:/67531/metapth984238/m1/2/: accessed July 18, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Delta County Public Library.