davidaulloa/AmericanStories huggingface dataset:
The people's voice., 1959-08-28
Executives Feather Their Nests
Via the Stock Option Cirnmick

Top echelon corporation managers
the ones who preach so eloquently
that the road to initiation is paved
with union-negotiated pay increases
have found new route to fabulous
wealth for themselves.
1t is the stock option route, the
AFL-CIO Industrial Union Depart
ment says in a recent study entitled
''The Stock Option Scandal.
u. S. Treasury is losing an esti-
mated $1OO,OOO,OOO year through
a loophole in the income tax law
that created the stock option abuse,
the Industrial Union Department
says. The loophole was opened de-
liberately by Congress in 1850.
The IUD says the stock option
scheme works like this:
A corporation executive earns
100000 a year in direct compensa-
tion but says he lacks incentive to put
forth his best efforts. The board of
directors then gives him the right
(option) to buy some of the COM
pany's stock, say 5000 shares at "a
price below what the stock is selling
for in the market.
If the market price of the stock is
$125 share, the executive may be
given an option to buy it for $1OO
a share.
Should the market price of the
stock remain at $125 or go higher,
the executive can exercise his option
to buy up to 5000 shares at an in
stant, assured profit that may be
many times what he could earn in
salary. If the price of the stock
drops, the executive need not buy.
L. A. Brusati, General Electric
stockholder once wrote: "This is
like being given the privilege to
buy tickets on the winning horse
after the race is over"
E. j. Thomas, president of Good
year Tire and Rubber Co., in Decem-
ber, 1850, obtained an option to buy
5000 shares of his company's stock
at $50 a share.
He exercised it in 1925 at cost
of $531, ,049 and, today, these shares
through stock splits have increased
to 41,317 and are worth some $5,-
100000, according to the AFL-CIO
study.
Roger Blough, U. S. Steel Corp.
board chairman who is taking such a
hard-nosed attitude toward steel
workers forced out on strike for more
pay, became a millionaire through the
stock option route.
Other beneficiaries of the stock op-
tion bonanza include, says AFL-CIO:
Ernest Breech of Ford Motor Co.,
|. w. Wilson of Aluminium Co. of
The people's voice., 1959-08-28
Here At Home
Jack Corette Eligible
For MiIIionaiFes' Club
Via Stock Options

Montana's most eligible candi-
date for the rapidly enlarging
membership of the Millionaires'
Club, made possible by stock op-
tions, is none other than suave,
go-getting Jack Corette, president
of Montana Power Company.
Sometime before MPCo. split its
common stock three-for-one late
last month, Jack was granted an
option to buy 10000 shares of the
utility's common at $34.22 per
share by the stockholders. AS of
the final New York Stock Ex-
change listing of MPCo. stock be-
for the three-for-one split ($74.75
per share), he could have picked
up his option, placed the 10000
shares on the market, and over
wealth in excess of $4OO,OOO.
Other officers and directors of
Montana Power, held stock options
in excess of 1860 shares before
the stock split. The price to them
was $34.16. By taking up their
options late in July their gross
material wealth could have been
increased more than $75O,OOO.
1t is presumed that when
company's stock was split three
for-one that proper consideration
was given Corette and other men,
bers of the utility's hierarchy and
that now their stock options have
been multiplied by three.-HLB.
The people's voice., 1959-08-28
DEMAND THE UNION LABEL

and 142 census takers in 28 western
Montana counties Want to be
fish hatchery helper, at SITS an
hour? Several such jobs open, in Mon
tana and other states, no experience
necessary but written test required.
Details available from Civil Service
Commission or Senator Murray
Federal Aviation Agency allocated
$123,834 to Great Falls International
Airport for runway and apron i'm
provement Corps of Engineers
awarded $137,341 contract to Frates
Construction Company, Billings, for
Ground/Air Communications Build
ing, Miles City Air Force Base
Jack Fast, Seattle, awarded contract
for similar building at Malmstrom Air
Force Base, Great Falls -. General
Electric Company, Bismarck, awarded
$324,881 contract for generator and
station service switchgear and main
leads, power plant, Fort Peck
Public Health Service granted $14,331
to Montana State College, Bozeman,
for equipment in Veterinary Research
Building.
The people's voice., 1959-08-28
Radiation Study Ordered
AT long LAST

WASHINGTON, D. president
Eisenhower established on August IA
Federal Radiation Council to study
health problems caused by radiation
Members of the group are the Secre-
tary of Health, Education and We'll
fare; Secretary of Defense, Secretary
of Commerce, and the Chairman of
the Atomic Energy Commission.
The people's voice., 1959-08-28
Water Resources Hearings Slated In October
More Power for Montana
By VIC REINEMER, Exec. Secy

BY VIC REINEMER, Exec Secy Sen James Z. Murray
WASHINGTON, D. C-Last Wednesday about 20 Mon
ana and North Dakota REA coop leaders with Senators
Murray and Mansfield and Congressman Anderson and Bur-
dick ND then with Assistant Secretary of Interior Aan
DAHL to discuss the shortage they face After hearing
their story Senator Murray called Interior Committee hear
for the following day. Here's what the hearing testimony
brought out:
The people's voice., 1959-08-28
Public Ownership Pays Dividends >.
Tux-Free Oklahoma Town

SKIATOOK, Oka-A taxfree city?
There is such place in Oklahoma Sdatook.
The budget of this north file with the
board includes property
operating bonded.
The town lists its 195960 budget needs $4186581 but
started fiscal $6,8779
$349890
utility earnings-in the months
sinking Skiatook this
has $1O70698 hand for that utility
The last year only $3637O1S
that spent.
Skook biggest estimated of for the fiscal
$4,000 electricity
The
raising mills this fiscal
MAN REVIEW. Spokane.
The people's voice., 1959-08-28

Liberty is the right to do what the
laws allow. If citizen had a right to
do what they forbid it would no longer
be liberty, for everyone else would
have the same right.-C. l.. De MON
TESQUIEU.
The people's voice., 1959-08-28
HEARING SET ON RESOURCES
AND CONSERVATION

Aye, but what is past is prologue,
and two other decisions in Washington
last week laid more Of the ground
work for what can be the most signifi-
cant advances in the field of conser-
walton and resources since the days
of Teddy Roosevelt and Clifford
Pinchot.
The Select Committee on National
Water Resources, set up this year
by the Mansfield-Murray Act, an
nounced it's schedule of field hear
ings, to include one in Billings, Octo-
Der IL, and another in Missoula, Octo-
Der 13. Senator Murray will chair
both the Montana hearings.
Also last week Senator Murray in
troduced his proposed Resources and
Conservation Act" which was hailed
by several of the 25 co-sponsors as
landmark legislation.
Murray patterned this bill after his
Employment Act of 1916, which set
up the Council of Economic Advisers.
The Resources an d Conservation
Council would be composed of three
members, appointed by the President
with the advice and consent of the
Senate, to formulate and recommend
national resource policy so as to pro-
mote conservation, development and
The people's voice., 1959-08-28

Department of Interior told coo
leaders last year they would have
purchase additional power fror
sources other than the Bureau fo
this year. Previous hearings an
studies by the Interior Committe
showed how the shortage in the Uppe
Missouri Basin could be alleviated b,
integration of Nebraska power. TIL
| Department of Interior and the co
ops went into negotiations for down
stream power with the understanding
that the Bureau of Reclamation woulC
wheel the power. Then the Depart
ment said no, you boys enter into ;
wheeling contract with Montana
Dakota Utilities Co.
The wheeling contract would in
crease the cost of power to the CO.
ops and their consumers. The coop
leaders pointed out that they are
using only about 25,OOO kilowatts
out of Fort Peck, and that some
$4,000 goes east of their territory.
The co-ops and their Congressional
representatives believe it unfair,
to put it mildly, for all these kilo-
watts to be exported, and for the
Administration to suggest then that
the local co-ops pay extra for bring
ing more power up the river.
Senator Mansfield was the first wit
ness before Chairman Murray, and
he said that the Fort Peck Project
Act, under which the area co-ops
operate, provides clear mandate that
the Bureau of Reclamation shall en-
courage the widest possible use of
electric energy, prevent the monopo-
lization of it, with broad authority to
operate and interconnect
with other power facilities.
"The Congress-" he said. "is di-
rectly concerned when there is an
attempt to avoid compliance
with the law"
ON THE OTHER HAND
In sharp contrast with the Admin
tough attitude toward mu-
nicipal power and rural electric CO.
ops is it's remarkably lenient policy
needs of private power
This was documented in
/ memorandum Senator Murray sent
asst week to other members of the
Committee concerning the
Southwestern Power Administration
'ecent contract for peaking power
with Kansas City Power &
light Company, and pending con-
ract with Missouri Public Service
Company.
The study shows how the South
Western Power Administration is re-
Iuired to supply the private compa-
lies regardless of water availability,
hus committing the whole system,
including leased thermal plants.s
DR.. Henry w. Blalock. Sr. who
repaired the study, said that under
he terms of the contract SPA must
ender service at loss varying from
100000 to $2.5 million per year.
TEARING SET ON RESOURCES
md CONSERVATION
Aye, but what is past is prologue,
nd two other decisions in Washington |
asst week laid more Of the ground
vork for what can be the most signifi-
ant advances in the field of conser-
alton and resources since the days
f Teddy Roosevelt and Clifford
The people's voice., 1959-08-28
THREE KNOTTY PROBLEMS

There weren't any earthquakes in
Washington last week, but things got
shook up anyhow.
Three knotty, basic problems took
up much of the legislators time. They
were roads, housing and labor. All of
them are issues upon which feeling
and mail-runs high. Many persons
think progress on these important is
sues seems painfully slow. They're
does. But perhaps that is
the least unsatisfactory way for them
to move if they are to be acceptable
to a majority of the members of Con-
gress, the people who elected them,
and the President. At any rate, bills
on all three issues are expected to
reach the President before adjourn
ment. now anticipated about Sep
tember 5.
Then there were the bills and ap-
of particular interest to
Montanans and other westerners.
Wednesday night the Senate sent to
,he White House the supplemental
bill which included 81
million for forest land management,
81 million for forest roads and trails,
81 million for access roads and $780,
700 for forest research. Those figures
we're not as high as the ones written
nto the bill in the Senate, at the re-
quest of Senators Murray and Mans
,ield, but no money at all had been |
recommended for these programs by
he Administrator or the House.
What this appropriation means is |
hat the long-range program for the
ational forests, advocated by Senator
Murray since 1856 and finally pro-
Iuced this year by the Administration
which didn't want to spend any
money on the program yeti will get |
Inder way almost Immediately, with |
benefits to states like Mon
ana which will get increased revenue
rom more timber sales and improved
orest management.
TITS AND PIECES
Post Office Department accepted
proposal for new postal quarters at
'lentywood. Building will be con-
tructed by the Moose Lodge as an
ddition to its present building
Iousing and Home Finance Agency
ertified Great Falls for LOG units
Section 221 FILA mortgage insur-
nee to help rehouse families dis
laced by razing of two temporary
-ar housing projects. At least 65 of
ne units will be new construction =.
-HFA also advanced, interest-free,
10000 to Laurel and $4,000 to
to plan improvements in
he sewerage systems George ]
atterson, Missoula, was appointed
eld assistant of the 1859 Census of
.griculture, to direct 13 crew leaders
The people's voice., 1959-08-28

utilization of natural resources. In
addition the bill would establish a
Joint Committee on Resources and
Conservation, composed of eight Sen
ators and eight Representatives In
his floor remarks upon introducing
the bill Murray welcomed suggested
changes in the bill and said full hear
ings, including field hearings, will be
held.
Federal water resource expendi-
lures now constitute but / u per
cent of the budget, as compared
with 21a per cent in 1850, said
Murray, despite greater need now.
National forest improvements re-
quire SIS billion according to the
Secretary of Agriculture. Six thou
sand small watersheds need con-
servation treatment but work has
been started on only three per cent.
Each year stream pollution in
creases.
$50 we must inventory each of the
other natural minerals,
hydroelectric power, recreation and
said Murray, then act, with
our actions well-considered, taking
into account the close interrelations
and interdependence of all the re-
and timely, for eff we over
ook or delay needed measures we may
greatly increase the problems, or even
defeat the possibility of their solu-
tion.''
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-09-24
INTERNATIONAL HORSE HURTING
q Kongeroos Accompany
Up and Coming to U.S..

SAN FRANCISCO, Sept. "a
(AP) up and Coming, priced
New Zealand race horse sched-
uled to run in the 100000
Washington. D. c., Interna-
tional at Laurel. Md. Novem-
Der II, arrived by air from
Australia yesterday with a sore
leg and in stiff condition. both
literally and figuratively.
The horse was given tran
quilizers in the Fits and at
Honolulu, but still kicked his
stall and debarked with stiff
muscles.
Along with Up and Coming
were four other racers and four
kangaroos. All the other ami
mails took to flying.
The kangaroos were kept
Grated in the Qantas Sky
master.
Up and Coming's owner. New
Zealander Noel Simpson, said
the horse injured his right hind
leg kicking the stall. Simpson
didn't think the damage was
serious.
Vogel, a 5-year-old from
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-09-24
Rise at Gate, Rockies Play
Brighten Senators Windup

third straight year. but they
can view the future with a bit
more enthusiasm.
The Senators received spec
tacular t-half smuggling from
Harmon Killebrew and Bob
Allison. They have hope that
those youngsters will improve.
Also giving the future a
brighter hue is the recent play
Of Outfielder Dan Dobbek.
Dobbek has displayed de-
fensive ability and he has hit
frequently enough to warrant
getting a full shot at a regular
job next spring. He Clipped in
with two of the Senator's IL
hits last night, as did Allison.
Killebrew and Jim Lemon.
Allison thumped his 30th
home run of John Gabler into
the leftf1eld bullpen leading of
the last of the eighth, while
Lemon socked across his Tooth
See SENATOR'S, Page E-3
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-09-24

PLANTATION came from Lanes
statement that their tiff began
when they we're in different
cities, while the team was on
the road.
THE thing snowballed out Of
proportion. Joe's the gambling
type of manager and I'm a
percentage man and. naturally,
we didn't think alike" the
general manager said.
Il expressed my opinion, and
it sort of trickled into the press
box and got in the papers. !
felt I had a right to express
my opinion. and ! still do.
Then I heard that Joe with
drew himself from considera-
ton for next season, and I was
shocked" Lane continued. II
See GORDON, Page E-2
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-09-24
Round 7 able No Cinch
In Woodward Saturday

year for which he has a rec
ord Of 10 victories in IL starts,
have been over dirt tracks. But
he. too, doesn't like an of
track. The l26 pounds he'll
carry are six fewer than he
picked up in the one-mile
Aqueduct Handicap September
IA. Tommy Barrow. little known
except for his success with
Hillsdale, win ride.
Sword Dancer-Runs on any
kind of a track. Twice this
year has given older horses
weight-by-scale and beaten
them in the Metropolitan and
Monmouth Handicap. Also
tried the feat in the Brooklyn
Handicap. but ran second to
Babu. Under the weight-for-
age conditions Of the race
he'll carry 100 pounds. But
no 3-year-old has won the
race since the conditions were
changed in 1856. The Brook
meade colt worked 6 furlongs
in l:l2A yesterday in his final
speed test. Eddie Arcaro rides.
Meanwhile, Irish Jay from
the Wheatley Stable strength
ened her claim to the 2-year-
old filly title yesterday when
she easily won the $4,000
added Demoiselle Stakes in
track record time at Aque-
duct. With a 1913 3I5 clock
ing for Z furlongs, she earned
$22.595 and boosted her total
winnings to $1l9,906. 1t was
the fllly's fifth victory. four Of
them stakes, in six starts. She
paid $3.50.
Elsewhere yesterday in fea-
ture races, Rick City 1881 won
the $l7,150 King Neptune
Stakes at Atlantic City, and
Roman Colonel ($8.60 took
the $17.400 Spy Song Handi-
cap at Hawthorne.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-09-24
By BURTON HAWKINS
Star stan Writer

The Senators finished their
exercising at home in the base
ment, but they were the most
interesting second division club
viewed here in recent years and
fans supported them despite a
horrendous skid during the
second half Of the season.
A heartening increase Of
140.084 customers saw the team
play here this year. The home
attendance was 615.372, an in
dication that If the team ever
struggles up to the first divi-
sion, Washington will support
the represe sentative outfit
strongly.
After last nights 5-4 loss to
the Yankees, the Senators are
a game and a half out Of
seventh place, with only three
games left. This seemingly
dooms them to the cellar for a
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-09-24

NEW YORK. Sept. "a (AP)
Round Table is the early
4-to-5 favorite to whip Hills
dale. Sword Dancer and any
other horse that chooses to
run in the $100,000-added
Woodward at Aqueduct Satur-
day.
But Hillsdale. the years top
money winner, and Sword
Dancer. top-ranking 3-year-
old. do not lack supporters. In
fact. it is very easy to start an
argument as hot as the Ma
tional League pennant race.
It's that kind Of a horse race.
The oddsmakers are quoting
HillSdale at So and Sword
Dancer at Al. And there are
those who contend either or
both should be the choice over
Round Table. especially should
the track be either sloppy or
muddy.
But here are the facts for
the mile-and-a-quarter race. out
Of which probably will come
the horse of -the-year and the
handicap division champion.
Round Table-practically in
vincible on the grass but the
Woodward will be run on a dirt
track-does not like an of
track. The 1858 Woodward was
run on a sloppy track and
Round Table finished fifth,
beaten II lengths. In his favor
is the fact that he'll carry only
1875 pounds. That's 10 fewer
than he packed in posting IN
easy victory in last Saturdays
United Nations Handicap at
Atlantic City. He'll have Willie
Shoemaker in the saddle.
Hillsdale-He's razor sharp
as shown by a 2:09+s workout
over the Woodward distance
Tuesday. All Of his races this
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-09-24

Australia. took the 80 hours Of
flying from Sydney in style.
He's also scheduled to race in
the international in the colors
Of his new owner, Roy Faircloth
Of johnson City. Tenn.
The other horses are, Gold
Stakes and Durham Chief. a
trotter. They'll go to Los Ange-
les. The fifth horse, Akimbo. is
staying in the San Francisco
Bay area to race at nearby
Golden Gate Fields.
Up and Coming and Vogel
are tentatively scheduled to de-
part by air for Maryland today.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-09-24
Lopez Crew
In Shape
For Series

CHICAGO. Sept. "a (AP).-
Manager AL Lopez Of the White
Sox is mum on his World Series
pitching plans. but there isn't
a betting man in the country
who wouldn't wager it'll be
Early Wynn in the opener.
Lopez. who spent his first day
after winning the American
League pennant scouting San
Francisco against the Cubs.
said he felt his club has a
great chance" in the World
Series.
The White Sox pitching ro-
tation for the three-game, sea-
son-ending series at Detroit is
all set. Billy Pierce will pitch
the first game, Dick Donovan
the second and Wynn and Bob
shaw will split the Sunday
assignment. In the meantime,
reliefers Gerry Staley and Turk
Lown and young Barry Latham
are expected to see enough
activity to keep in shape.
In Top Condition
One thing which doesn't
bother Lopez about the series
is his teams physical condition.
It's expected to be Al.
Centerfielder Jim Lands has
been out Of action with a leg
injury, but he returned to his
position in the late innings Of
the AZ clincher against Cleve-
land Tuesday night.
We'll be in top shape for
the Series" Lopez said. land
we're going to play the kind Of
ball that helped US win the
pennant. Yes. we'll be running
If we get the opportunity"
Lopez will not be with the
team for the Dedroit series.
He'll be scouting either the
Dodgers, who play the Cubs
here, or the Braves. who finish
at home against Philadelphia.
Tony Cuccinella will manage
the team.
Fox Protects String
Cuccinello said lands will
play part Of the Detroit series
in order to get in shape and
that Second Baseman Nellie
Fox will start every game to
keep intact his string of con-
secutive games which has
reached 666. a major league
record for a second baseman.
Cuccinello also indicated
Shortstop Luis Aparicio will
play but that Catcher Sherm
Lollar. Third Baseman Billy
Goodman and Outfielder AL
Smith will see only part-time
duty.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-09-24
Comeback by Craig Pulls
Dodgers Even With Braves
Recalled HurIer:
Is 40 in Squirt;
Pirates Help
By the Associated Press

The Dodgers have crashed
through again for a first-place
tie in the National League
pennant scramble and their ace
in the race is Roger Craig, a
once forgotten, rudy faced
Highlander. .
1t was Craig, pulled back
from the minors in mid-June.
who got the Dodgers started on.
their Jump to the top by beat-
ing San Francisco, Al. in the
opener Of that double-header
sweep over the Giants last
Saturday.
And last night he pushed
them back into a tie with Mill
waukee, banking st. Louis on
five hits for a 80 victory after
the Braves had stumbled for D
5-4 loss at Pittsburgh. :
Giants Barely Alive
That Milwaukee loss, ending
the Braves streak at four
games, also kept a faint spark
Of life in the third-place Giants.
who trail by two games after
a 9-8 loss in 10 innings to the
Cubs-their fifth straight set
back.
Each of the contenders has
three games remaining. The
Braves. however. play theirs at.
home. meeting laSt-place Phil:
adelphia tomorrow night, Sat-
urday and Sunday. The Dodg-:
ers finish at Chicago against
the clubbing Cubs, while the
Giants. more dead than alive,
finish at st. Louis. They all get
a day of today.
The Dodgers, winning five OF
their last six. have taken 16 Of
their last Is games. Craig,
leading the league with a 2.l2
earned-run average, is 40 in
that squirt. Southpaw Johnny
PodreS and reliever Chuck
Churn each have won three,
while Don Drysdale, the ace
who tumbled, is "a.
Craig. who made his first trip
See BASEBALL, Page E-A