Mondar, July 16^ 1962

Dissatisfied .Over Foreign Aid Bill

Somethings Gotta Give

An attitude of dissatisfaction toward foreign aid was rcflgcted by both the Senate and House in provisions attached to their voting aye^ on that perennial issue.

Last week. Representatives authorized $210 million less than the Administration wanted, and

A degree of frustration is bound to be felt . . and displayed.

The Senate was first to kick over the traces by banning aid to Poland and Yugoslavia; two countries behind the Iron Curtain whose leanings awav from dogmatic Moscow are regarded as worthy of

banned loans or grants to the United Nations until investment, other members pay up their assessments; then re- Then the House of Representatives took the

quired a halt to aiding governments that seize U.S. bit in its teeth with opposing the Presidential proproperty unless they take prompt action on fair posal to buy United Nations bonds ahd thus keep payment. ' . _ that organization going and solvent.

Previously, Senators approved foreign aid of To stipulate no loans or grants to the UN, un-$6.5 million less than the House, and barred assist* less or until delinquent members have paid up, is ance to Communist countries (with the exception of unrealistic. There would be no need to purchase surplus food). such UN bonds if delinquents paid up the roughly

Of course the shape of the final measure de- $94 million they owe; and the bond issue was re-pends on how a joint committee resolves the differ- garded as a first step in the process of applying

encesr but warning flags are flying. pressure on those deltequents. -

With over twenty years of large-scale military In the end, having shown their restlessness, we

and economic assistance to friends and non-friends presume Congress will delete the obnoxious pro-behind us, and a high degree of economic prosperity hibitions and give President Kennedy most of what and unity being achieved by our allies in Western he seeks in terms of foreign aid.^It would be tragic Europe, Congress is bound to be in a balky mood, if ground were cut out from uirder two hopefully Foreign aid wasnt meant to be unlimited, but constructive aspects of our foreign affairs, to accomplish specific goals. Today it appears to At the same time, Congress would be remiss in becoming a permanent fixture, and an important its duty if foreign aid were not a matter of continu-

facet of American diplomacy.

No Exhibit In

f

Worlds Fair

By WILLIAM A. SHIRES

FAIR A stock answer is ready two years in advance for aiiyone who goes to the New York Worlds Pair in 1964-65 and wraders why North Carolina doesn't have an exhibit.

He will be, asked what be remembers about Idahos exhibit. ' Chances are that he will remember very little. If anything, and the same probably would be true for any other ^>ecific or particular state.

This, in the opinion of the advertising committee of the Stat Board of Conservation and De-Tel(H>ment, is the point.

If the average worlds fair visitor renumbers very little about a particular states exhibit, one among many, would it be worth the considerable cost just to have one?

The advertising committee doesnt think so.

COST The cost of such a Worlds Pair exhibit in New York would be more than half a million dollars for a building alone.

This compares with a state advertising budget approved for the second quarter of 1962-^

Carolina, will be continued in the states display advertising in newspapers and magazines.

The theme was launched last year and state officials are pleased with the response and recognition it has received.

One new theme aill be introduced in forthcoming state advertising. The travel advertising this Pall will incorporate into- the image advertising of North Carolina as a good place to vacation, to live and do business the fact of the states "observance in 1963 of the 30(Xh anniversary of the Carolina Charter.

The state will publish 200.000 copies of a new Variety Vaca-tiohland" booklet for 1963. This revised and enlarged edition aill be the principal publication for responding to inquires from the states advertising campaign.

PLANNING -- Community planning projects are increasing rapidly across North Carolina and the growth has turned up interesting new trends.

Among these:

a number of smaller communities are taking steps toward initiating urban renewal

!V[pre Than A

McKau^t Syndicate Bia,

Of only $81,129 even if the projects, primarily for clear- the additional revenues and returqs of tomorrow, state funds were available. ance of slum and substandard There is every reason to believe businessmen

The money very likely would residential areas but also mak- -i, ^ u

have to come from private ing available new commercial take advantage of the tax deduction, which

sources, through a public sub- and industrial sites. . i_

ing study and review.

If the program is to be now regarded as no longer one of meeting emergency needs, one could readily envision reasons for re-allocating sums now going to Western Europe and assigning them to other areas. If the program is to be still regarded as one of emergency help, there are even more pressing reasons for assigning Western Europes aid money to other areas in much greater need.

To put it bluntly, the people of Western Europe have never had it so good. The foreign aid program has achieved its goals in that area, now prospering beyond imaginations of ten short j^ears ago. They are working toward a degree of economic unity and strength rivaling our own. By JOHN ABNEY

Meanwhile, we have neighbors to the south of 111 # ~ -r T-m

us who pose an even greater challenge for our ex- 7\ * * O

perts in foreign affairs and foreign aid. Their need, rH \/ W I I I 1 1 I

and our need for stable and prospering neighbors, JL V V X

cannot be overstated.

MEXICO CITY Papa, he said, why Is that guy standing <m the other guys head?

My boy, I replied, the gentleman agonizing on the floor of the ring is Frankenstein and the gentleman treading on his cranium is The Saint. And the reason for this Is The Saint be-

Treasury action permitting larger tax deduc- came angry because Pranken-tions to firms investing in new plants and equipment

will cost the government an estimated $1.5 billion in revenue.

It insures there will be something less than the surplus at years end, predicted by the President . . . and another year of red ink on the books.

But the bright side of giving business a tax merely the name he uses for break is so hopeful, one can turn their attention wrestling industry.

from prospects of a billion dollar deficit today to

Business Not Alone In Sharing Of Benefit

I do not mind telling you my ten and a half year old heir was aghast at this news.

Holly cow, he sputtered. You mean he is a REAL saint?

By no means, boy. This Is

you were a wrestler. . .oh! Look what Frankenstein just did! Well, all Mr. Frankenstein did was flip up and plant a heel

In El Santos mouth. And The Saint responded in a most un-saintly manner.

I get lassoed into the grim story of my past every time we enter a wrestling arena. And it goes as follows:

"A few years back,when I was a desk man with the United Press here, I took leave a couple of nights each week and entered into combat under the name of Earthquake McGoon. And since it is a well known fact that newsmen are poverty stricken souls, this side career aroused more sympathy than curiosity.

Now it so happened, I said, that your old father was signed for a tag team bout with a gentleman called The Mongol against Mr. Pablo Romero and Mr. Ray Zalvalza.

Did you win?

Dont get ahead of the story, It was a very unfair encounter because The Mongol was a small fellow of only 190 pounds and I was a trim 230. And Mr. Zalvalza and Mr. Romero weighed in at something like 240 each. So you can see it was terribly unfair.

Now The Mongol and I tried various types of strategy in the first fall to overcome this disadvantage. All of which were misinterpreted by the referee.

You mean you fought dirty?

It is very migentlemanly to question your fathers honor In the ring. I mean the referee was near sighted and lacked un

derstanding.

irade

By GEORGE E. SOKOLSKT

The strike of the doctors in Saskatchewan Is the direct result of the effoit of a Socialist government to reduce a profession to a trade, professional men to a proletariat. If the individuality of the professicmal man is to be reduced to the unprofessional man is entitled to strike as the hourly worker is entitled to sUrke. Prom this standpoint the situalon Is al-ogether clear and the ftrlke is juslfied.

On the other hand, no matter what socialist politlciana try to do, a physician and a surgeon are Indispensable. Without ^them life can come into existence and death can destroy life. But were epidemics of polio, meningitis, cholera or other frightful illnesses to break out. Saskatchewan would become a pest-hole and a danger to all Canada and to the United* States. It would have to be quarantined.

In the complicated world In which we live, it Is Impossible to be without physicians and surgeons. There are, of course, religious groups, such as the Christian Scientists, who do not acknowledge the enormous achievements of modem medicine but the statistics clearly prove an Increase in longevity and In spite of the practice of birth cimtrol, by one means or another, population is on the Increase.

In Saskatchewan, the strike of the doctors may be the first in human history. The professional man must endure a l(Hig period of preparation. He cannot leara his art or science by reading a book of Instructions. He requires a very thorough training over a period of between seven and ten years, depending upon whether he specializes. e is not a mere technician. To be of value, he must have the patience of a saint, the delicacy of a good mother and the ruthlessness of a tyrant.

Such a man cannot be regarded as an hourly laborer. The socialist might ask, "Vhy Is he any better than anyone else?* The answer is that he has done so much work In preparatlmi for the one moment when there is no alternative but death.

The other night, I saw one of those old Lew Ayres and Lionel Barrymore, Dr. Kildare pic-

^_,jtures. All through the movie ran

scrlption campaign or solicitation.

There may be protests about the states decision not to sponsor an exhibit, but if so the advertising committee is ready for them.

A lot of people may be asking why. In a word money.

SEND The New York Worlds Pair sent a representative, P. Bourne Upham, to the C&D Board meeting in New York to make the pitch for North Carolinas participation.

Upham said the Fair is especially anxious to have North Carolina. All other Southern states except one. South Carolina, already have signed up to have ^Skhibits.'

Most other states, Upham aid, are working through commissions which are arranging private financing and presumably this was a course that North Carolina might follow in the event sufficient state funds were not available.

The advertising committee, headed by Charles B. Wade Jr. of Wlnston-Saiem, turned down the idea on grounds that it would be too costly, for the benefit derived, that the money might be spent more wisely on other things North Carolinas own Trade Fair in Charlotte next year, for example.

THEME The theme. Good Government Is a Habit in North

a number of communities being served by the community planning division have progressed to the point where they will require full-time professional planners for their programs. These include Salisbury and Wilmington. Salisbury has asked for a full-time planning ex--pert and may employ him next year.

Smaller communities are being encouraged to pool resources fo employment of fulltime planners on a joint basis.

There Is an increasing demand for planning servltes through the division of community planning, with the dollar volume of work already doubled that of a year ago. The state, at present, bears only 25 per cent of the cost of community planning service.

PARKS Two new state parks areas are being considered and one, in the Lake Norman area north of Charlotte, is in the negotiation stage. Lake Norman is being created by Duke Power Co. with completion of a new dam on the Catawba river near the Meck-lenburg-Lincoln county line on N.C. 16.

The other possible new state park area being considered is in the Sandhills area, near Southern Pines, an area which has no state park closer than Morrow Mountain at present.

means: modernization and new economies in production; more employment; and, eventually, more 71-n

taxable income. Wlllti ILUiL(Ji O OU.yiliy ...

The new depreciation rules were a long* time in coming, and they come at a most propitious time Business is called the chief beneficiary, but this is oversimplifying the story. Actually, benefits will accrue over a broad spectrum of the economy at large.

Appropriations

A Study In Patience

In

j'

oa Jam

The Daily Reflector

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^:*By RALPH ROBEY

The nation has entered a new fiscal year and not a single appropriation bill has been passed by the Congress. A few bills have gone through the House and some through the Senate, but it has not been possible to have a conference to work out the differences. This has been because the chairmen of the two appropriation committees have been having a squabble as to where the conference should take place.

Both of these chairmen are octagenarians, and for them to disagree on this point appears rather silly. But this does not change the basic fact that never before in modem times has the United States had to start a new fiscal year without any of the appropriation reque.sts having been acted upon by the Con-gres.s. The government, of course. Is operating under a joint congressional resolution continuing last years appropriations.

Tnis is merely one example of the incredible log jam now facing the Congress.

The only big top-priority bill that has been disposed of was the farm measure. The Administration lost and the defeat was blamed upon the Republicans. It Is tnie that all but one P^^publican member voted against the hilland that one h-s been redistri^ted out of officebut many D^mocraf.s abso cnposed thf A<>m<nistvatlon pan (v'caiHe the'' thoiii^ht t tlie govttimeit too much power,

The tax l)ill has pa.ssed the Hotwe in a form which the Prc'^nienl sa''t at tb'" ttme was When the r>ea"uie eot Ite^ore the Senate ^nance r'ornm'Ucc 'nweve', Treas^rv ,^cre*ary Dion recomme'ded a ser*" of 'h'nres the ne*

of which would have been to b ing it ha'I' to t.hp ori"*-rpl Af^minlstrption proposal. Tt has now hen ennnunced hv chairman of tb'^t committee, Senator B.vrd. that if unan(-moe- flgrecrnf>nt (s not reached b' Julv 18 (he bui wui hp r^"*-pHde and the txdu

ta^e up the Trade Exnan'-ton Art. 'rbp Senator also said that thi*? t(mc wgn with the

approval tho whe Hou'c. As a result of th*; dlay it an-pears imnrohahir tbit the tax hill can po.ssibh' b read' " .ubmi.sslon to the Senate imtil so clo.sc.to Labor Day thas passage is highly unlikely.

The Trade ibcpansion Act was passed by the House in the form wanted by the Administration, and this was regarded in Washington as a great victory. This gives the President unparalled power to reduce tariffs and authorizes the government to aid firms and workers who are hurt by imports. There is great objection to these aid provisions, and no small amount of opposition to the increased tariff-cutting powers. The Senate Finance Committee plans to have four weeks or so to get a bill ready to report. It Is assumed that some changes will be made In the aid provisions, but no one is in a position to forecast what they w'Ul be.

Aid to education is regarded as dead in so far as this Congress is concerned. It did not have too much chance before the . S. Supreme Courts decision :bp school prayers, and It is now generally believed that decision completely eliml-natea the possibility of passing such a measure.

Medical care for the elderly through Social Security is in trouble but still is given about a fifty-fifty chance of being passed in some form. All types of compromises are being offered. and one of these may win enough support to get a bill through the Congress.

Now. quite a few bills have been pa.ssed and .some of them have been of great importance Increasing the federal debt limit of $;t08 billion and extending the pre.sent 52 per cent corporate tax. are examples. Manv other Important tnea.sure.s are In the Icglslative mill. But those discussed above were the ba.slc program of the Administration. To say that the record on these ha. been dismal Is an understatement. Never has there been

(Christian Science Monitor)

Americans Angry at Neutralist Prince, said one headline from the Geneva conference on Laos. Impasse Broken, said another next day, Americans Pleased.

Both were exaggerations.

Unless something goes seriously wrong, which it hasnt yet, the management of neutralist Laos is going to be a long, hard job. Only some of the ground rules can be laid down by the big powers at Geneva. Already several important questions on which the big powers cannot agree are perforce being left to Prince Souvanna Phouma to work out. Or try to.

What is h^pentog is that the conflict has been transferred from the battlefield, where it was too dangerous because the Communists were winning and the United States was on the point of intervening, to the conference table. This is a good thing. But the conflict is bound to continue. Averell Harriman, chief negotiator for the United States, has had to keT) the sharpest watch on vital APoeri-can interests and will continue to do so. It goes without saying that the Soviet negotiator is doing the same for Communist interests.

The rest of us should watch and wait. It is better to reserve judgment than to get worked up over issues that am pretty complex for the outsider to understand.

For example: the pro-Com-munlst Palhet Lao have to be wary about the United States

effort to combine all existing armies in Laos into one group, under the new neutralist Premier. This happened once before, and the Communists were rooked. There was a deal. They got several seats in the Lao Cabinet in return for having their army units (except for some which escaped to North Viet Nam) incorporated in the Royal Laotian Army.

Some months later the conservative Royal Lao simply dropped the Communists from the Cabinet and left the Pathet Lao with nothing, a condition very pleasant for the West at the moment, but well caculated to cause the Communists to plot revenge which they did. Ultimately they all but pushed the Royal Lao out of the country.

On the Western side, there are two points of extreme importance. One is to cut the guerrilla communication lines from Communist North Viet Nam, through southera Laos, into South Viet Nam where a large guerrilla war is in progress. The other is to get the North Viet Namese troops out of Laos many thousands of men. Mr. Harriman will have to use every ounce of negotiating skill and vigilance and bargaining strength to bring these about.

So the watchword In Lao.s Is patience. This is a political battle, far less perilous than the recent military conflict. The object is Laotian independence of outright Commnni.st control. It Will be a considerable time, long after the Geneva agreement Is signed, before the trends will become somewhat clear.

Okay, you lost. Then what? Why. The Mongol and I conferred at length, wiping each others bleeding nostrils with towels and concluded it was a situation which required desperate measures.

Therefore, near the end of the second fall your cagey father maneuvered Mr. Romero into a comer where The Mongol held his arms behind the top rope so Mr. Romero could not escape. The old Earthquake scampered across the ring a number of times, rebounding from the ropes and sEtiling into Mr. Romeros abdomen. And Mr. Zalvalza became so emotional that it was neces.sary to deposit a fist on his jowls to keep him from entering the ring, which is strictly forbidden by the rules.

When Mr. Romero began sagging. The Mongol shouted to belt him on the chin. And it was on this return trip from the ropes that ! executed a beautiful swah dive clear across the ring, aiming my head at the sconce of Mr. Romero.

Unfortunately, Mr. Romero had the foresight to duck but The Mongol didnt.

Gee, you mean you hit The Mongol?

In the face, to be exact. And he fell in the third row from whence he was carried to the dressing room. At that point, Mr, Romero and Mr. Zalvalza extracted me from the ropes where I was hanging by my neck and said, dinner is served, Earthquake. Come In and get it.

What did they serve you. Pop?

Many knuckle sandwiches. And that, my boy. Is how I happen to be wearing these nice plastic teeth in fron|J|kWhich I remove for a good brushing after every meal. And which reminds me constantly that the typewriter is a much safer place than the wrestling ring. Although not nearly so spectacular.

the theme, What would have happened to the girl If Dr. KU-dare had not risked himself and his entire professional career to help her? And one felt that the alternative was death.

For many years I lived In China. Each Spring when the crab season appeared, thousands died of dysentery. When the watermelon appeared, thousand.^ died of cholera. One day, I was riding in a rickshaw and after a ^hile, I saw the coolies face. The devil had the smallpox. I went to a doctor and got myself vaccinated all over again. It was nothing to spend miserable days In a hospital with a frightful dysentery. Children died during the Summer of ailments utterly forgotten in this country. Tuberculosis was so usual that I saw men rise from the dinner table to spit blood,*

I learned to have a very healthy respect for the medical profession In those days. A little friends of mine had a very bad case of what her parents called measles. They called in several native Chinese doctors, each one of whom had a private medicine that had been In his family for a long tkne. Each one of these men was jealous of the other. So the head of the househoM called in a necromancer who did some magic over the various medicines; finally he selected one. The child died.

The quarrel in Saskatchewan goes deeper than how much is a doctor to charge for Ms services. The medical profession rejects nationalization. I often see articles complaining about what doctors charge. I do not hear them proposing, as they grow better known, that ttieir pay be reduced. It Is amazing how a man will go to a night club and pay whatever he ia charged, even if the date is counted in, but the same man will appreciate legal services for nothing and he pays the doctor only after protest.

My sympathy Is with the Saskatchewan doctors who are fighting a battle for all the professional men In this era of mobocracy.

n

m A

1

ects From The Gilbert Case

By EI.MER ROESSNF.R

When Edward M. Gilbeil,. head of E. L. Bruce Co., flew tu Brazil, he left behind a complicated legal'finauciai tangle that the accountants an; still attempting to unravel.

A Swiss bunking company is cuirently trying to untie one of the knots in that tangle - re-.solvlng the differenfce will) two

you contract to buy, say, 200 .shares of the Rose-Colored Glas-se.s Corp. at $10 a share within the next 90 days. The lengths of time of a "put or call

sell a big holding at higher than the current market or purchase a block of stocks at below the market. Those who take a put or call contract w'lth

thrm , basicallyr"

b!oke,age houses lehiling to a wor.se lov jam in the United- honoring of "puUs in E.

States Congiess.

te

"If W'c want a Federal police forc with national jurisdic.icn, all we have to do isnothing. If we dont, wed better crank up cur state traffic control machinery and start weeding out unfit driver.s. Tills can only be done by hard-boiled examination and pcrlddlc reexamination. both phy.sical and mental. And time is runnmg out. - Jeffersontown (Ky.) Jcficrsoniaa.

I. Bruce Co. and Celolex Ccnp .H ock.s. Mr, Gilbert i.s reported to have been .seeking control of the latter firm.

Wide public interest in Mr. Gilbert has developed and some of this has spilled over into In-lere.st in puts and calls, Putis are simply contracts to sell a certain number of shai'es of a particular stock at a fixed price and within a certain period of time. In other w-ords, .vou may have a put contract to sell KXl common shares of the Camba Mustache Wax Co. at $50 a share within the next six montii-si

LKNGTH.S VARIES A call" Is the reverse. When

usually runs for 30 , 60. or 90 day.s. Lately, more and more are lx*ing wirtten for .six months or longer to get long term capital gain.s tax benefits.

"Puts are generally for those who expect the market to go down. Tlie put'b is contracted for, perhaps, at $10 a share. Thiee months later, W'hen the price is down to $9, the shares can be purcha.sed in the open market for that price and the

ing against them on how the stock will move. These large .stockholders are wealthy Investors with large portfolios, stock exchange firms, trust compa\ nies and foundations. Anyone accepting the contracts should realize the high caliber of the one he i.s betting with.

But puts and calls have a two-fold lure. They can, under contracts of proper length, offer capital gains benefits. It is al-

Investor who bought the put so possible deal In puts

fulfills the contract, getting $10 a share, or a galo of $1.

Calls are purchased by bulls, who expect the market to go up. The bull contracts to buy shares for $10 each. Suppose the price goes im to $I2. He- "calls for the shares at the $10 price, .*:ells them on tl]e market at $12 and makes $2.

BIG .STOCKHOLDER.S

Most "puts and "cnlls contracts arc offered by larcc stockholders who either want to

and calls with a margin of only 25 to 30 per cent. This Is between margin requirements for regular stock purchases, which are higher, and margin requirements in the commodity markets, which are lower. Safe approaches Bu.ving puts and calls are perfectly safe and sound Investment > provided that

1 You make a contract to .irll .'^hare.s at certain price only if you have those shares

in hand and want to sell them at that price.

2) You make a contract to buy shares at a certain price only if you want them at that ' prict!; and have the - Tcady casir" to pay for them.

But as speculations, puts* and calls are very risky, particularly on margin. No investor should get Involved In them unless he knows the whole field dow'n to the last blade of grass. It is hlgMy complex, dealing in special situations and combinations known as straddles,* strip 8, spreads and straps.

Its stictly for pros and the little lamb venturing into It will surely get fleeced. A Securities and Exchange Commission survey shows that approximately 60 per cent of all puts and calls are never actually exercised meaning the market didnt vary enough to warrant execution. Twenty per cent show a partial loss to their purchasers. The balance or one-fifth, presumably resulted In a profit. And that 20 per cent was probably held by specialists in the field down to the last man.