davidaulloa/AmericanStories huggingface dataset:
Evening star., 1963-04-23

plates. but apparently the de-
mand for the item had exerted
unusual pressures within the
industry. Carbon steel plates
are used in shipbuilding, con-
struction, in pressure boilers
and similar applications.
Despite a booming rate Of
steel production which neared
IS per cent of capacity. the ef-
feet of the cuts on plate was
felt on Wall Street. United
States Steel paced the list on
the New York Exchange as the
most actively traded stock, de-
clining 81 to $51.75 on volume
of 78, 500 shares.
Analysts said the losses in
steel stock prices yesterday
were not surprising in view OF
their recent advances.
Evening star., 1963-04-23

poSit and share insurance GER
tain related issues should be
satisfactorily resolved" He
said he was requesting tn q {
draft legislation resolving
these issues be prepared as
soon as possible"
Points Recommended
The committee also recon-
mended:
Review Of present regulations
on branch banking. It said Tex
treme limitations" on branch
ing Of financial institutions in
some states may impede the
provision of banking services
and effective competition"
The Justice Department and
banking agencies not directly
concerned should have the op-
portunity to submit an advis-
ory opinion" on the competitive
effect Of new applications for
charters. branches, membership
In the Federal Reserve System
and admission to deposit insur-
ance.
A system Of graduated re-
serve requirements for demand
deposits. which would "elimi-
nate many of the inequities anc
administrative difficulties in
the present system of reserve
requirements and would facili-
tate q decision to bring all com.
mercial banks under the reserve
jurisdiction Of the Federal
Reserve"
Continuation Of reserve re-
quirements on time and saw
ings deposits Of commercial
banks and "the introduction OF
q similar reserve requirement
for shares at savings and loan
associations and deposits Of
mutual savings banks"
Continuation Of the prohibi.
ton against interest payments
on demand deposits.
Lifting OF the maximum In
terest limitations on time and
Evening star., 1963-04-23

on plates, then dropped the in
crease within "a hours.
Republic Steel Corp. and Arm
co Steel Corp. hastily rescinded
their own $3.50 per ton price
increases on plates. They also
cut raises on sheet and strip
products by so cents a ton to
the industry leaders level.
Yesterday, National Steel
Corp, Jones g. Laughlin Steel
Corp. and Lukns Steel Co. al
so backed away on the carbon
plate product. National and
J. g. L. Cancelled a "a per ton
increase. Lukens' dropped its
IS raise and Wheeling Cancelled
. $3.50 markup.
Centered on Plates
1t was not clear Just why the
price war had centered around
Evening star., 1963-04-23

UNuOOAIu FAME Us FLUS IM.
Also - DaIly JET Service 70 AtIunss,
Houston, Son Antonio For reservations,
see your Travel Agent or call Eastern
at Executive $4,000. For fight infor-
nation, tune in to elite Facts, broad
cast every hour on the hour, 6 AM
Midnight, over radio station WMAL -
$40 on your dial. Or call 6s4-5272.
Evening star., 1963-04-23
Drama OF u. S. VS.. Steel Firms Fizz|es
BY TRUMAN TEMPLE
star Staff Writer

What had begun as a drama
between Government and the
steel industry dissolved yester-
day into steel versus its own
market competition.
Three more major producers
retreated from higher prices
they had announced earlier on
steel plates, A fourth. Wheel
ing Steel Corp, last night ap-
proved a similar cut from Its
original boost April 8.
The moves were a continu-
ing trend by steel companies
to meet competition from
United States Steel and Beth
lehem Steel Corp, the two gi-
ants In the industry. which
have refused to increase plate
prices.
Stock analysts attributed a
drop in steel-share prices yes
terday to the plate cutbacks.
Some of the steel stocks showed
stable losses late in the day on
volume topping 5 million shares
In the New York Exchange.
Pressure Seen Private
Where a White House out
burst of temper had brought a
steel price rollback q year ago,
this time the pressures ap-
peared to be purely those Of
private concerns vying for the
consumers dollar.
President Kennedy April IL
issued a mild statement declar-
ing "selective" price increases
would be acceptable. With the
administration moving out Of
the picture to this extent. all
major companies last week be-
gan following Wheeling's lead
with similar increases on some
items. Mr., Kennedy further re-
moved himself from the area
Friday. noting the rises aver
aged about / per cent Of all
steel prices, and showed q re-
laxed attitude toward this.
The reverse parade got under
way in earnest over the week
end as most mills, whose prices
Evening star., 1963-04-23
NpEx. isoo aioo

had shot up above the new
levels announced by United
States Steel. dropped back to
stay in line with the leaders.
Chronology Of Events
The chronology Of events
went this way:
Last Tuesday United States
Steel set the basic pattern with
increases Of 81 a ton on hot
rolled sheet and strip, IS a ton
on cold-rolled sheet and strip.
and 81 a ton on galvanized
and other steel used in autos.
1t left prices on steel plates un.
touched.
Two days later Sharon Steel
Corp, in q dizzy turnabout, an
nounced q 81 q ton increase
Evening star., 1963-04-23
BY DON BACON
star staff Writer

President Kennedy has in
hand today the Governments
first major study Of the coun-
try's financial structure since
the depression.
1t concludes that banks a n d
other financial institutions OPP
crate on an essentially sound
basis, but that some new legis-
lation is needed to bring them
up to date.
In his letter Of transmittal
to the President, Walter w. Hell
Ter, chairman of the special
Committe on Financial Insti-
tutions, said the committee has
not attempted to recommend
specific legislation. but that its
findings point to q number OF
significant changes in legisla-
ton and In administrative rules
and arrangements that would
enable private financial insti-
tutions to play q more effective
role in our market economy"
The committee, made up of
II heads Of Federal depart
ments and regulatory agencies,
had "a general recommenda-
tions in the areas Of reserve
requirements, interest rate reg
ulation, portfolio regulation,
Federal charters, deposit insur-
ance, competition, conflicts of
interest and Government su-
pervision and examination.
Insurance Increase
Concerning proposals now be-
fore Congress to raise the limit
on Federal insurance on savings
accounts. the committee con-
cluded that IAN increase in ex-
isting insurance coverage is Jus
tified." but that in individual
cases such factors as liquidity
and competitive practices
should be considered.
1t said that insurance In
creases - currently limited to q
maximum Of $4,000 per ac-
count - should follow action
ito strengthen further the SUI
pervisory framework and TO as
sure more effectively the SOL
vency and safety Of individual
institutions -"
Among It's recommendations
In this area were an extension
OF reserve requirements to saw
ings and loan associations and
mutual savings banks land q
strengthening Of the authority
of supervisory authorities over
liquidity positions - standby
authority over rates paid on
savings and time accounts. and
broadening Of safeguards
against conflicts Of interest TO
additional institutions"
President Kennedy In a state
ment said he agreed that In
increasing the coverage Of de-
Evening star., 1963-04-23
Pension Shifts
AreProposed

NEW YORK, (AP).-Pension
credits should follow q worker
who moves from one job to an
other. says an expert on private
pension programs.
Roubert D. Paul, a senior vice
president Of Martin E. Segal
Co.. sees in such a development
an answer to q problem created
by automation.
The Segal firm acts as con-
sultant and actuary to more
than 800 employe benefit plans
covering more than 4 million
workers and their dependents.
Mr.. Paul pointed out in the
company's quarterly newsletter
that most private pension plans
are designed to meet the needs
Of employees who spend their
entire working lifetimes with
one company or in one locality
working for one industry.
But today automation and
the new technologies are begin
ming to affect pension benefit
rights" says Mr.. Paul. There
Is increasing evidence Of q new
industrial phen o m e n on -
workers may not stay on one
Job long enough to earn pen
sion rights.
Many will move from one
Job to another, from one in
dustry to another to find en-
ployment. Even If they stay in
the same industry they may
have to move around the coun-
try TO find work"
Mr.. Paul says that as pensions
become universal, they are be-
ing viewed more and more as
deferred wages. and, If so, they
must be as portable Is q trust
savings account available at re-
tirement.
Evening star., 1963-04-23

PHILADELPHIA (AP). -
Stockholders Of the financially
depressed Curtis Publishing
Co, have rejected q manage
ment proposal which would
have eased restrictions on bor-
rowing but approved all other
management proposals.
This was disclosed by Mat
thew j. Culligan. president, at
a reconvened stockholders
meeting which had been re-
cessed from last Wednesday to
allow tabulation Of votes.
Approved we're proposals to
enlarge the scope Of the firms
corporate purposes and to in
crease authorized common
stock from 3,457,335 shares to
4 million shares.
Mr.. Culligan said the pro-
posal to eliminate the debt re-
strictions received approval
from the majority of all classes
of stockholders but failed To
receive the necessary two
thirds vote Of the 81 prior pre-
ferred by a small margin.
Mr.. Culligan said 1t was sig
nificant that a majority Of all
classes of stock favored the
elimination of restriction on
debt. He repeated that failure
to obtain approval Of the debt
feature would cause no SUBJ
stantial change In the firms
situation.
When $22 million of Curtis
Bank loans came due last fall,
the banks stipulated in extend
ing these loans that the COM
pany seek to obtain stockholder
approval Of the removal of debt
limitations.
1t appeared doubtful. how
ever. that a failure to obtain
the approval will affect Curtis
position. since its financial for
Evening star., 1963-04-23
Moy Stores SuIes
And Earnings Rise

May Department Stores Co..
which owns Hecht Co. stores in
this area. had record sales Of
709,652,000 In 1862 and net
income rose to $24, 100000 or
$3.40 a share. reported Morton
D. May today.
Sales in 1861 totaled $70S,-
4Sl 900 and net earnings totaled
$23. .409, 900 or $500 a share. De-
chnes In Cleveland resulting
from the newspaper strike were
offset in other cities, he said.
Evening star., 1963-04-23
YOUR MONEYS WORTH
Investment Curbs
By France Slight

France could do incalculable
damage to us and the free
world II Gen. de Gaulle decided
to stop our investments in
France, back out from tariff
cutting negotiations and lead a
movement toward European
nationalism and isolationiSm.
There's fear in the Unite d
States that she's turning that
way, in view of Gen. de Gaulle's
veto Of Britain's entry into the
Common Market in January
and then his blast at United
States investments in France
and Europe.
Happily. there's a vast gap
between what France could do
and what she is doing and
planning. Here's an authorita-
tive report.
@. What actions against us
has France taken so far?
A. France has made only one
change in policy on outside In
vestors. This was a decree by
Gen. de Gaulle in late February
and 1t was aimed not Just at
American oil interests but at
all private investments in the
oil industry, including French
private investments. The decree,
designed to secure a share in
future oil markets for Frances
government-controlled compa-
Fnies, put ceilings on share of
future growth in the French oil
business - for all concerned.
Reduction Is Small
AS an illustration, Esso's
share will be held to lis per
cent Of the future oil market
instead Of the current 1876 per
cent. The net reduction of ESQ
and Mobil together - the two
major United States oil COM
panies in France - will be only
3 per cent. Moreover. with CAL
tex owning a 40 per cent in
terest in one Of the new French
government controlled firms
whose share will rise. our total
loss In the future oil market
will be less than per cent.
A spokesman for Standard
Oil of New Jersey says, We're
not worried about the French
market one bit" and the French
decree imposes no practical
limitations" on French Esso's
business.
A Commerce Department
economist says, I'm view Of the
extent Of United States control
in the French oil market to-
day t19 per cent?. I'm amazed
there hasn't been more acri-
mony on the subject"
@. What other actions has
France taken?
A. No action has been taken
by the French against any
United States firm in France.
No investment application by
an American firm has bee n
turned down. (Recently, the in
vestment programs Of three
large United States companies
we're approved by the French)
No complaints have been re-
ceived by the Commerce De-
partment from the American
Chamber Of Commerce - usu-
ally q good barometer Of the
business climate there. No basic
change In Frances policy to-
ward American investment is
anticipated. hig hly-placed d
French officials have told
American Embassy economists.
Some Encouraging Factors
Considered most encouraging
Is the fact that at recent Com
mon Market sessions in Brus-
sells, France co-operated with
the five other members In
reaching liberal decisions on
tariffs applying to outsiders.
Q. Why Is France being SO
cautious after Gen. de Gaulie's
Outcries?
A. We are Frances fifth larg-
The people's voice. [volume] (Helena, Mont.) 1939-1969, 1963-04-19
By FRANK SMALL

The best news so far this year is
Pope John XXIII's latest encyclical
"Pacem in Terris"-Peace on Earth
issued nine days ago calling for dis
armament among the nations. 1t was
carried in full by the good grey New
York Times. The American Catholics
have an urgent task to get the en-
cyclical into the hands of everyone
possible as quickly as they can. There
is still time, brother!
The people's voice. [volume] (Helena, Mont.) 1939-1969, 1963-04-19
Lady Editor Defends
Babcock, Tits A Lance at PV
editor, The Peoples Voice:

Editor, The Peoples Voice:
Pardon my ignorance, but I can't
see what Governor Tim Babcocks opin-
ions have to do with the awarding of
the cement hauling contract at Yellow
tail to Babcock and Lee. (See Reader
Forum, PV 4-12-Ed.)
In fairness to the taxpayers-and
who isn't one these days?-the firm
which can do the job efficiently, get
the cement hauled in sufficient quanti-
ties to supply the contractor and who
can do it at the lowest price should
be the one employed.
Neither the Governors opinions nor
his positions should have any effect
whatsoever on trucking contracts
awarded to Babcock and Lee.
/ was somewhat amused at your blast
against the Helena Independent Record
on managed news. Come now, don't try
ignore % few items yourselves?
I'm not objecting. The Peoples Voice
is just as frankly biased in its own
way as The Montana Citizen, and I'm
glad both are published in Montana.
You have every right to your opinion
and to your own kind of news manage
men-so give your opposition the right
to handle or ignore the news the way
they see fit. y s.Y $50. q. ..,.s
Just think, if they didn't, you'd have
to accuse.-HELEN M. PETER
SON. Editor, Hardin TRIBUNE-HER
AID. ~~ ~..{.-- ...a..,;g
$ This is a good point Some documents
in THE Pv office files raise a still un-
answered question whether, or not his
official position had bearing on
B&L securing the cement hauling
contract.-PV Editor. tt
The people's voice. [volume] (Helena, Mont.) 1939-1969, 1963-04-19

from page i
under construction will not meet the
needs of this marketing area. There
is no question but that the market
can absorb the power that could be
produced at potential reservoirs in
the study reach"
rigation-"There is little oppor-
tunity for substantial additional irri-
cation of bottomlands. In the ada
cent table lands costs of irriga-
ton are beyond the limits of economic
feasibility and beyond the repay
ment ability of landowners at the
present time. Should reservoirs be
constructed, the resulting substantial
reduction in pumping head together
with the availability of adequate
power would improve prospects of
economic justification if changed eco
nomic conditions should warrant fur
Their studies of irrigation"
Flood Control-"The problem of
potential missouri Basin) flooding,
except for ice jams, has become one
primarily of tributary floods, due
to the large flood-control capacity
of the main stem reservoirs"
Minerals-"Presen mineral pro-
duction in the study area is not great,
although the value of coal, petroleum,
metals and industrial minerals that
have been produced is significant
Sf98 million. Extensive coal beds
the area, and large blocks
of land are currently under oil and
gas lease The possibilities of
thermal energy with pro-
posed hydroelectric power generation
are good" ac a
Land Management = Numerous
problems lack of public access
i. fragramentary public land pat
tern, man-caused erosion, impracti-
cability of thorough application of
modern and intensive management
techniques !. /. In view of the large
of public land, there ex-
lists in the study area an excellent
The people's voice. [volume] (Helena, Mont.) 1939-1969, 1963-04-19
Roundup Papers Tactics
Sharply Criticized

MIR. Billings:
How desperate can they get?
The Roundup Record Tribune Can
independent newspaper) for the first
time in the history of a city campaign
ran an extra edition on Friday, March
20, 1868 to help beat a Democrat for
mayor, John j. White who had been
elected two terms previous. They had
a plenty in their regular Thursdays
paper, but the extra edition was al
most libel in spots, and they should
be made to retract some of their state
ments, and maybe they will be. They
pulled the same gag on VIM. (Red)
CLANCY two years ago. They put their
propaganda in the last edition, SO you
have no chance to answer them before
election. 1t would not look so bad if
their headlines did not state, can
Independent Newspaper" 1t is high
time someone made them retract their
statements or erase the Independent
Newspaper statement JOHN j.
WHITE, Roundup, Mont.
The people's voice. [volume] (Helena, Mont.) 1939-1969, 1963-04-19
!. Living ivi' Costs Go Up,
Factory Pay Down

The consumer price index, measur-
ing living costs, increased by one
tenth of 1 per cent in February to
1861 of the 1957-59 average, the
Labor Department reported. The fig
ure tied a record high first reached
last September. 1t was LIZ per cent
above February 1862.
Most of the increase was attrib-
uted to higher prices for food, appar-
ell, transportation and medical care.
In companion report, the Labor
Department said the February aver
age weekly take-home pay (after
taxes) of factory worker with three
dependents was 1888, about 20
cents below January, as a result of
a small decline in the length of the
factory work week.
The people's voice. [volume] (Helena, Mont.) 1939-1969, 1963-04-19

the same Mansfield who scared off all
competition in the 1852 primary, and
received over $4,000 votes against a
combined total for his opponents of
S,777 cover 10 to II in his last primary
contest.
So, in spite of the anti-Mansfield
seed so subtlely sown by We olde t. u.
Senator, and in spite of Doris Flee
sons quoted quotes from a modest
Mansfield and from a socalled exper-
fenced campaign technician, and with
no announced or uaannounced oppoSi-
ton to date from either the Democratic
or Republican side, to a native who has
seen quite a few Montana elections
come and go, it looks like Mikes for
mula for election success will work
again in 1864! Very truly yours -
FRANK MURRAY, Secretary of State.
Helena.
The people's voice. [volume] (Helena, Mont.) 1939-1969, 1963-04-19

gress representing the wheat areas
and the urban rebellion over money
going into the support program it is
a long shot that any better legislation
could be obtained now. "No" would
be gambling with dangerous chances,
and a more than fifty million dollar
loss of farm income to Montana.
No, despite Babcock's claim federal
monies are being foisted upon the
people they have been requested BY
the people. In Helena federal monies
have been about the only way to civic
The main street, wings
on the hospitals, old age assistance,
etc., even janitors' salaries.
Nice to hear from you, Senator.
The people's voice. [volume] (Helena, Mont.) 1939-1969, 1963-04-19
II Alternatives Offered In

opportunity for a broadened and
greatly intensified public lands man.
agement program
Fish and Wildlife-"The attributes
of the lower portion of the study
reach for wildlife are outstanding.
Perhaps nowhere else in the nation
today would it be possible to prepare
so we'll for future wildlife needs"
Recreation and Preservation-"Th
study reach has major and unique
recreational potential from the stand
point of scenic grandeur and scienti-
fic and historical interest Be-
cause of the very limited. access and
because it is not we'll known, the rec
reational potential of the reach is
largely unrealized Construction
of reservoirs would introduce new
recreational opportunities associated
with the existence of large bodies of
water, such as boating, sailing, water
skiing and many others, and would
provide access by both land and water
to hitherto inaccessible areas
POSSIBLE DAM SITES LISTED
Eight possible dams at six sites are
listed in the report. They (and their
height) are:
Fort Benton q miles upstream
from Fort Benton bridge-192 feet;
Virgelle-18 miles downstream
from Marias River-150 feet;
Iliad-5 miles upstream from Ju-
dith River-214 feet;
High Cow Creek-23 miles up
stream from Highway 10 bridge
365 feet;
Low Cow CREEKS miles up
stream from Highway 10 bridge
$50 feet; M
Heller Bends miles upstream
from Highway 10 bridge-375 feet;
High Rocky Point-9 miles down.
stream from Highway 10 bridge
225 feet;
Low Rocky Point-9 miles down.
stream from Highway 10 bridge-53
feet.
A maximum of three of these
possible dams could be constructed.
The people's voice. [volume] (Helena, Mont.) 1939-1969, 1963-04-19
JobIess Pay Award

The California Supreme Court has
ruled that replaced" strikers are en-
titled to unemployment compensation
benefits. In a case involving the In
ternational Chemical Workers and
Ruberoid Co., the court held that
when strikers are replaced, the
act becomes the direct
cause of unemployment. The ruling
overturned Los Angeles Superior
Court decision.
The people's voice. [volume] (Helena, Mont.) 1939-1969, 1963-04-19
Murray Hits Citizens
Grasping at Straws re
Mansfield's Reelection
Sam Gilluly, Editor,
The Montana Citizen,
ID n Dr. 77Cn


The Montana Citizen,
p. o. Box 1880
Helena, Montana
Dear MIR. Gilluly:
Your Senator from Tax Gulch in
'lookin' ahead" in the April Mon
tana Citizen wonders if the COP will
come up with a strong candidate to
oppose Senator Mike Mansfield next
year: Lookin' behind I'd say no, despite
Doris Fleeson,, who the Il. G. Senator"
quotes as quoting one experienced cam
paign technician in estimating only
Edward Kennedy of the democratic
senators up in 1864 was assured as re-
election.
In case the T. G. Senator has for
gotten, Senator Mansfield took all
honors in the 1858 general election. the
last time he ran, by piling up a far
greater majority than any candidate
on the ballot-Republican or Democrat
In fact his majority of over 10000
votes in a Montana Senate race which
lately have run less than 5000 (Novem-
Der 1860, 1850; November 1854, 1,72S;
November 1862, 5,749) seems to sug-
gest unusual strength for Mike.
And since this last victory, L can
think of nothing that has happened TO
seriously impair the Mansfield popu-
1arity. On the contrary, it seems to
me that most Montanans would think
being elected majority leader of the
United States Senate Ga first for any
gaind both stature and votes
for our senior Senator.
The Republicans he defeated cannot
be regarded as push-overs either, as
they were prominent party members
and no strangers to high state office
and state campaigns.
And going back to the first round,
the primary election, who in the Demo-
cratic circles can effectively oppose
The people's voice. [volume] (Helena, Mont.) 1939-1969, 1963-04-19
READERS FORUM

The Forum" is open to all who
wish to express an opinion or present
facts on any subject. Limit 500 words.
The people's voice. [volume] (Helena, Mont.) 1939-1969, 1963-04-19

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