The Key West Citizen Newspaper, April 28, 1951, Page 2

PA lit br mn fe ti tl it ZAGE 1WO + “ste Key West Citizen ily Except Sunday, by ak Cy mabtiada! Owner and Publisher \OnMAN ARTMAN, Business Manager ee Pan ll The Citizen Building net Greene and Ann Streets only Dally Newspaper in Key West and Monroe County uteredé at Key West, Florida, as second class matter a MEMBEKS. OF THE ASSOCIATED PRESS The Asso sa tog Press is exclusively entit! 4 te ve for reproduction of alt news dispatches e) -dited # itonnjt otherwise credited in this paper, end so thedecal news published here. SUBSCRIPTION RATES > SPRCIAL NOTICE All"reading notices, cards of thanks, Set, obituary notices, perms, - ete, ge for at the sate of 10 cents # line. entertainment by churchet from to be derived are 5 cents a 1 ne. forum and invites dis- ad subjects of loca or not publish anonya wus Tesolutions will be IMPROVEMENTS FOR KEY WEST ADVOCATED BY THE CITIZEN 1. More Hotels and Apartments. 2. ‘Beach and Bathing Pavilion. 3. Air; and Sea. 4. Consolidation of County and City Governments, 5. Community Auditorium, TIGHTENING CREDIT Price pegging of government securi- ties to maintain a fixed pattern of interest rates is ended, superseded by a more real- istic type of central bank control, The change climaxes the recent compromise reached by the Federal Reserve Board with Secretary of the Treasury Snyder in the long-standing conflict over the infla- tionary effect of the public debt’s man- agement. For the first time since early in World War II, a free market in the sale and pur- chase of government bonds is established by the: Reserve Board’s withdrawal of price supports—something the board has long wanted to do. The action precedes the Tregsu floating of a new issue of by per 4 ee to be exchanged for 2% per cents in the sum of $19,000,000,000, which was part of the compromise. , The two moves—withdrawal of price supp§rts and the quarter per cent increase in itterest rates—are designed to make effective the Reserve Board’s measures to restuet the credit base and thus halt the mounting total of bank loans. Heretofore the kaard’s efforts to that end have been rendé¥ed practically abotive through the ability of the banks to increase their cash resources for making private loans by dis- posing of government bonds at no risk of unsettling their market. n this way the volume of spending money has been automatically increased, adding to inflationary pressures. As a re- sult,at the start of the year loans by the 4,981 national banks alone had reached nearly $30,000,000,000 a new high. Only twice since have loans fallen in one week below the previous week and the reserve system’s latest report showed that in one week banks reduced their government; bondeholdings by $109,000,000. Now the banks will not be so ready to inf{eBase their cash resources for making privgfe loans by selling their government secugities, because such transactions would quickty become profitless if the market pric extor the bonds fell below par. At the camémtime the slightly higher interest re- turnée be had from the new 1 per cent issuaeis an incentive for all institutional invegfors to switch to them though they are Mt directly marketable. Purther steps may be required to con- fine ‘the credit base, but what has , heen donewis in the right direction and a yindi- rd ation, of the Federal Reserve Board's long striv ne to bring the Treasury to a realize tion That an easy money policy is an ana- chrofifsm. in an inflationary period. ~ ~ Gere are rugged individualists who are Qpre afraid of competition than of eh Voralists, bent on saving the world, alwa$s want to tell other people what to thinkegnd what to do. = By the time Congress gets through discusfing sending troops to Europe, it will be time'to bring the boys home. en | SLICE OF HAM WICKERS’ STADIUM It has been said that particivating in baseball, football, basketbail, golf or any other type of contest, ha sports, tennis, made the American soldier the sturdiest in the world. But sports do more than that—they provide entertainment for tens of millions of Americans. With few exceptions, they get that entertainment of pastime out of doors, where they get pure air ard sun- shine. * Twenty-five years ago, when Key West beganito bud as a tourist resort, many Key Wésters, headed by the late Dr. J..Y. Porter, who was then president of the Key West Chamber of Commerce, felt that an csential to a tourist resort They pointed out that every city in Florida that was aspiring to attract tourists had one or more links. At that time, metropolitan Miami, which was mak- ing the greatest stride in Florida as a win- ter resort, had seven golf cours and Peterskurg, which was also up-and-doing, 3ut Key West, out in the cold, was a golf course. had three. had none. Through the determined efforts city acquired, through condemnation pro- ceedings, property on Stock Island to be converted into a course. And, after land had been. obtained, the city bonds to have the course constructed. Twenty-five years later, the city, Monday night, decided to have Wicker: Field Stadium reconstructed at a cost of | noti | $34,591. That field, when completed, only will provide a fitting plece for sports but also will promote the economical wel- | fare of Key West by: bringing here pro- | fessionals for pre-season games. Every- | body, when he comes here, spends money here among business men or other resi- | dents. | Big league teams have played in Key West when the only field available was the parade grounds in the Army Barracks. As they came then, it is more than likely they will come again when facilities for their playing will be far better than they have been in Key West. While big league teams may not come here for an_ entire season for practice, the chance is good they will play some of their games in our stadium. However that may be, judging from the number of. out-of-town teams that have played on Wickers’ Field, it is rea- sonable that even more nines will come with the added incentive of a well-built | stadium. | Too many voters expect public posi- | tions to be used to reward personal friénds —and so it is. Politicians who trends seldom go so far as to vote against a vote-getting appropriation. | denounce w | of | the proponements for a golf course, the the | issued | socialistic |‘ THE KEY WEST CITIZEN AND HE'S ALWAYS FIRST ON THE CHOW LINE TOO!” SATURDAY, a |Lt. Anderson Has |F lorida Manatee lan . PPS. Fe i we Er | Completed His 2 oe Training Here Lieutenant Burten M. Ander- son hi ecently completed a four course in all weather fly- at the Fleet All Weather ining Unit, Key West. The Weather cour consists of anced wht training in in- nent d night tactics de- gned to qualify the pilot for Carrier All Weather Squadrons. j | | Lieutenant Anderson will re- | port to the Commander, Air] 4 4 = wee, Atlantic Norfolk, hig Sag for further assignment to Contributed by Ross Allen's Reptile Institute, ie | invoiving flying. Silver Springs, Florida | ing had previous flight ex- ant Anderson FEW CREATURES ARE MORE GROTESQUE than the manatee ervice as an En- or sea-cow, found in southern Florida. This enormous aquatic Aviation Volun- -rvice. In March, designated a Naval ator at Corpus Christi, Tex., \pleting the prescribed flight tra. program. | His duty assignment included animal reaches a weight of a ton. Almost helpless on land, it can zi swim with great speed and power. It is completely harmiess, i and feeds upon water-lilies a other plants. In recent years it has become very rare. tp —————— ter c¢ | primary flight instructor at Bun- ker Hill, of Ferry | York Ind., service ferry pilot Command One at New; senior test pilot for ir Service’ Unit Twenty and Id m $12C,000,000 SPENT IN MEXICO A year or so ago the foot-and-mouth | disease broke out in Mexico and it “eated that the scourge would follow the { example-of the boll weevil and cross the Rio Grande to take a fearful toll of our cattle. | Realizing this, the government of the United States sent experts to Mexico to fight the disease, spending something like $120,000,000 to eradicate it. The money was, no doubt, well spent. That the Mexicans benefitted is be- side the point. Our cattle were protected and the nation probably avoided a more expensive campaign against the in this count was disease The only people who have the power to destroy American capitalism are Amer- ican capitalists. . TIPS TO DRIVERS Death lurks behind the wheel. Save a second lose a life. Will I be one of the 100 killed today A’ split second’s inattention may se a fatal crash. The greater the speed the the danger. The road hog is a road hazard. | You can’t be careful of your own life | greater unless you are careful of the lives of others. A drunken driver wouldn’t arouse righteous indignation if he endangered only his own life. “How far does a little candfe cast its light?” Not nearly as far as a speeding car can go in a_ second. Good driving de- | mands constant attention. verdo t pean meth 10 percen added to t about Row give is eli Dudley Fitts of A noted pot and tez KEY WEST NEWS | Of Days Gone By Taken From The Files Of The Key West Citizen MAssbbbbsbabbs sad shhhas 10 YEARS AGO Boston, 48 years ago. Today InH — preme Court uj Commerce groes from Pu rip along t ordered dimm n of Russia from t ati, 48 y DOlier, , 74 years president “ STAR * BRAND and cusAN COFFEE and CUBAN Act! President Hoover call. stri : usie:," wallboard, ceiling tile, light fixtures, ‘complete | > women in industrial occupations jalo ‘wi 4 ek tive in Puerto Rico calls for 30¢ an |] BeFehes, cement blocks, soil, pipe. sheeting, and framing Mich., 59 years| hour. lumber. beaded ceiling, heayy timber, building etc. hak | - Long-leaf edge grained hard yellow pine flooring. and tim: peters bar Ancient historians used to di- ber. Impossible to duplicate: new. ars agK etired ; aH of Prudential | fe, first| The strike of the anthracite 4; | coal miners in the summer of :] 1902 was the first thoroughly or- ABCD Cor ration Telephone, lue Island, ML, Your Grocer SELLS that Good ——TRY A POUND TCDAY— —————_——— ‘ss Aa 2h , Gage CO Fast Direct Service To All Major Cities ot {jon the a campus he was a GIANT LUXURY LINERS—Daylight Flights i ember of the Varsity Debate i ANGELES $99.00" “et » cian he yes partner | OMe: SORTA. m3 aa b manager of the Anderson Clea. BUFFALO $49,00' | DETROIT $49.00" © CLEVELAND $40.00" PHILADELPHIA $94.00" DALLAS 49.90" PITTSBURGH $39.00° CINCINNATI $98.74" NEW ORLEANS $35.00" CHICAGO $43.74" i *AU Fares Plus Tax i | ajelien Island. | Lieutenant Anderson is a grad- | ate of Jamestown High School and attended the University of Cincinnati for two years. While ers in Jamestown, ved as president of the James- = |town Optimist Club in 1950. The son of Mr. and Mrs. D. G. 150 McDaniel Avenue, : , N. ¥., Lieutenant For Reservations—Phone or Write: E ve: Anderson is married to the for- 3 1 votes to raise mer Elinor Ahiquist of the same 927 E. FLAGLER ST., MIAMI by Selective'city. They have two daughters, - MIAMI 82- | Barbara Kay, age 8, Nancy Beth, »men con- age 4, and one son David Brian, wn COALA — Court! age 2 it- ».| Do You Know That ct! White reflects the sun's heat “| rays; black absorbs them. { = } a} . The circulation of the entire 4 be at ‘ 5 he |bedy depends on good circula- ed pie eone her ee Unusual Key West Opportunity All Dismantled Material at the Army Barracks, 601 White St:, Now FOR SALE at Low Prices ,, Nice, complete windows, doors, screens, storm ‘sheeting: | sen ne! Amber was highly prized by the ancients and _ extensively | used as an ornamental gem. A new minimum wage’ for "\ vide the people of Africa into \ ‘Two. hand-operated elevators, Complete buildings. pra¢- two great divisions: the Libyans]] tical to move, are still available. ‘land the Ethiopians. ee A. REAL BARGAIN! ed struggle of the miners PHONE 1883 for improved conditions. 601 WHITE STREET of STATEMENT OF CONDITION The FLORIDA NATIONAL BANK Condensed from. Réport, to Comptroller April 9, 1951 NEWS and EDITORIAL TELEPHONE 1935 BUSINESS - ADVERTISING TELEPHONE +) an editorial have been| — Key West Citizen $ 900,452.14 Loans and Discounts ..... nabit | never been LAST TIMES TODAY Father's “Little Dividend” with sR TRACY, JOAN ND BLIZABETH AYLOR Comedy Drama And Eve Arden NS 2 Ee MONROE «corr joven Mass., born in STRONG ARM BRAND COFFEE | TRIUMPH COFFEE MILL at All Grocers LAST TIMES TODAY The Paleface with ROB HOPE AND JANE RUSSELL THE BACHELOR XER And Coming: AND THE BOBBY Cary Grant, Myrna Lo} Shirley Temple News THREE HUSBANDS Emlyn Williams, Louls Erickson { Banking House, Furniture: an ixtures 33,069.72 Other Real Estate Owned: . bate Prepaid Expenses : 1947. | Kemal Interest and: thas Réceiwabie 31,982.39 U.S. Government rities Florida County and Municipal B Bonds. Federal Reserve Bank Stock . se Other Securities 2 cok Cash on Hand and Due ‘from Banks | . 2,850, 430. 61 8,891,328.71 °$9,845,033.23 LIABILITIES Capital Stock $100,000.00 Surplus Bie 450,000.00 Undivided Profits 20,047.47 $ 570,047.47 Reserve for encies 28,662.77 Reserve for Taxes, Interest, Etc. 2 38,178.65 Interest and Income Collected ‘Not Earned 18,630.49 Dividends Declared, * Ye Payable .. 1,250.00 Deposits 7" 3 9,188,263,85 i $9,845,089.23 The Florida National Bank at Key West 4. J. TREVOR, President : Member Federal Déposit Insurance Corporation Member Federal Reserve Member Florida National Group of Banks YOUR FRIENDLY COMMMUNITY BANK