The Key West Citizen Newspaper, March 6, 1952, Page 8

Ate By SAM DAWSON NEW YORK (> — The growing | dominance of the life insutatiee companies in financing business expansion worries some /inafeinl observers who believe it may give the-Insurance giants tov mueh eeo-| mic power. ey critiesi are those eon. with the traditional security ~ibarkets and. the investment bask ving-hoises, who find their eomt THetitive position steadily weaken- wed; and who don’t tike to lose Dasiness. » Insurance companies deny, héw- ‘evér, that they control business Opetations simply because they “bold: corporation securities, ‘afd -Sif@8s the financial aid they have. provided for industrial expansion, | This dominant role of the in- surance giants is discussed . hete from two angles—by the head of ‘ah investment house, and by the Federal , Reserve Bank of New Yotk. Both agree that insuta companies have the inside ‘trai ow at the expense of their, com- pel . Neither discusses t ff ral effect on the écanomy, “how- sto Bali or “Tahiti. or ~ someplace Stuart &°Co,; says. this dominance as-grown, gut of two- things: Ia- come taxes have made it no longer! Harold L. Stuart, head af. macs Page 2B- THE-KEY WEST CITIZEN- Thursday; March 6, 1952) [420 47 a“ ‘ , ae \T#s 47 Floors Down By CHARLES DUERKES Polities have always intrigued me but the more I leatn, it seems, | the less I khow. Like the good Tentinaker I always leave by the same doot through which 1 enter-| ed. However, after years of stumbl- | ing about in search of the pathway to the political plum. orchard, 1 have uncoveted an amazing bit of ihtelligence and am of a mind to take advantage of it. i aim to run for the viee president. Here is a job that pays thirty! grand a year plus ten thousand tax exempt dollars for exjfenses. No-| body ever runs fot vice president, there doesn’t seem to be a law | against it and why such a caper has béen oveflooked all these years is diffieylt to comprehend. { In addition to the salary the posi tion offers an opportunity fot ad- vaneément. There is hothing much office of ‘Comparsa’ To ~ Perform Today Fev the first timé. at least in| modern times, a genuine Cuban ; COMPARSA will perform public- | ly in Key West Thursday evening. 4s an equally important. part of io- | day's Semana Alegre program. the Kiag and Queen of Cuban Mu- | Juan Anderfo and Nora Diaz, eayplso champions of the island, | will reach Key West on the 10:15 plane and will play a prominent part in the evening’s activities. ’ The festivities will begin with a by the COMPARSA down treet. Approximately forty ay, multicolored — cos. tumes will dance their way to the County Beach to the strains of a 15-piece Cuban orchestra. At the beach there will be a free sireet_ dance, and King Anduerfo and Queen Diaz will demonstrate | their special talent of composing original songs on the spot in the | so manner, he parade will start ai 8 p.m. for a VP to do save play around with fotty grand a year and bang ao oecasional gavel. If a vice} president is called upon to handle an administrative chore he is care-| fully coached” and. assisted by a| staff.of politically hep éxperts. » Avice president can wander’ off without ‘being , missed. . Nobody, - it The COMPARSA is being organi zed and directed by A. Bua. em “Oilboat Olga” (P) Wirephoto , Tells Of 3 , ROBERTR M. JONES, JR., 24-year-old Negro, perches on the | Shrewd Deal downtewn Cincinnati. Heé threatened. to jump: for nearly two pseeiis, gives a hoot what he does as.long as he keeps. out of ‘the, way, ‘buttons His lip and turns, up! iéuge of the 47th floor of Carew Tower, an office building in | WASHINGTON «9 — Mrs. Olga | hours ignoring the pleas of police and firemen.before his father | Konow. Who quipped that he has Ms and a priest pulled him to safety. Young Jones, who said he “ Official U.S. Navy Photo “Oilboat Olga,” | “got troubles” when asked why he wanted to jump. was taken j been nicknamed j testified yesterday she got fees of profitable for wealthy individuals |to attend a few state occasions and | to buy corporate bonds; and 1 sjshake hands with visiting digei- | gréat concentration of savings .fn) tafiés when the president is busy. | savings banks, insurance policies!” There.is a clear field and Til-run| anid pension funds makes it pogsi-|on both tickets. My qualifications | “BIB for. these agencies to conttol| até impressive. I can sigh my the bond’ market on behalf of mil-| name,’ lay cornerstones, evade is- fons of small savers. Stuart testi-|sties, love to travel and am on ex-| fied at the government’s “siit| cellent terms with the Seminoles. against 17 investment banking|1 can toss off diplomatic. gems like | to a hospital for observation. Television stations rushed mobile ene and took the scene into homes of thous ands of persons. Picture was made by Howard Newman of the equipment to the s Cincinnati Times-Star. cake. This recipe, it says here, is over two hundred years old and has been in Mrs. Truman’s family ; for a mighty long time. ‘In fact, ‘Lucky Rig PICTURED ABOVE IS FLIGHT/SERGEANT A. G. BENNETT of the R.C.AF. Maritime Wing giving blood to be sent to the Armed Forces in Korea. Technician Kathleen Duff of the, Dade County Blood Bank is in attendance. F/Sgt. Bennett is at the U.S. Air Station, Key West, whore |**more than $100,000" for helping to engineer a deal in war surplus ov aes tat pele $450,000 | his unit is, now engaged in special operations. Along with’ him, 25 other members of the | ok sell greomed inthis who: R.C.A.F. gave their blood. This is the eleventh time F/Sgt. Bennett has given his blood, He is looks like the shipping from Sydney, Nova Scotia, where his parents are still living. she ‘is, Mrs. Koncw said was finaneed by wealthy Chinese. | In the windup. the Chinese, in- Calif “firms for alleged violation of the|‘‘no.‘comment” in a professional ve manner and amin favor of a law: making it illegal for’ any woman to-admit ‘to being over thirty six years ot dust wri anti-trost laws. i fh The Federal Reserve Bank of, » New York in its March review! =notes that insurance companies bow.hold 40 per cent of outstanding business: debt securities, and’ “this: ‘ré-) ballot ‘and, get me elected, cousins, | cently have, been absorbing 96 per | ins » eent of debenture poco nd sees ve ee placed by pora-|}I, can Sure use that forty grand a nsion funds may challenge x x * dominance later on, the.bank|\ ‘The heap of’ mail this week has my name in on ‘the ‘of waiting around until a} as torbe picked at raridems “year. NORTHRIDGE, Engineers, drilli (A) |directly got control of three tank- | Mulhol- | ers the U. S. government had re- | 1s now called “MRS. TRUMAN'S POUND CAKE” and I am duly im-|jand No. pressed, It “is. without a doubt a| more than splendid recipe and I would like| nothing better than to dash into} somebody's kitchen and whip up this cake. But among the ingredi-| bnts there is listed one pound of | he ihe e butter and nine large eggs. Things | €?' ‘eee hes NRE like that can run into money these | Prowght in. four producers days and if I had that kind of loot Mearby fields. He expects to drill I could hire a Girl Friday or buy at least 10,000 feet for commer. g the 1 oil well here, have | fused to sell to them. The $450,000 scientific knowledge | went to Joseph EB. Casey, former | on their side—the rig they |Ccoigress member, and a group! using has never produced a dry of associates who got the ships | from the government—putting up| superintend- | Oaly $10.000 of their own money. has | 4nd turned them over to the Chi- in | Rese-financed United Tanker Corp. | Mrs. Konow, a handsome figure jin old rose blouse and black skirt, | testified before the Senate investi- | E. - Sweetser, =VICTORY= =Bays. But in recent years the in:|the;hanging on the ropes. Every- «Sutance companies have’ gained| thing came through the sleet and ly. 4 -| $now and rain etcetera but the let- | eir ability to provide long-|ter from the redhead. 4 chap in| =term-funds in large amounts has| Arkansas wants to sell me a farm “Rained for the larger life insurance |-in the Ozarks, and a circular ad- -#ompanies a ‘competitive . advant-| vises me that I am passing up the wild horses. As soon as I get to be vice presi | dent I will buy the farm in the} Ozarks and send for the dogs, | horses, dehorning paste, build the | Girl Friday and tell her to whomp me some Coon dogs or a couple of | Si#l production Clean French City | BIARRITZ, France windmill, buy the truck, hire a/ resort city of jon the Atlantic coast near nrc Se NDE NH OEE HNP IFAC SO NNN SMM CASH MARKET 1028 Truman Ave We Deliver Tel. 1080. FIRST. CUT ations subcommittee which _ is looking into this and other Casey engineered ship deals. ‘The senators are pursuing the | 5 am,;, questions of whether the deals in- | (®)—This | volved any violations of law, in- population | fluence peddling or tax evasion. 1 20,500 Page over other types of; investor’ | chance of a lifetime if 1 do not | Sin securing. investments | * # Business has preferred dealing with the insurance companies ‘for séveral reasons; the bank sidtes. “Corporate borrowers ‘apparently have placed a high value upon the convenience of direct borpowing,”’ “the bank ‘notes, even “when interest rate was slightly higher. than might have been obtained with a registered market offering” ~that is, with’ notes underwritten ~by investment bankers, or with securities to be traded on he stock and bond exchanges. ‘The volume of these direct. or ~private placements of securities— that is, securities sold. directly to insurance companies—in — fecent years has.ranged between 2% and|lars. Their net reserves. intfeased 344 billion dollars annually, of from | one-third to more than two-fifths of gll new corporate ‘security flota- tions. é “The bank notes that the insur: ance companies lave plenty “of money for this financing of busie Miss Ainérien 0 “COLLEEN KAY HUTCHINS. “symbolic ribbon opening the Azalea Trail at Mobile, Ala. King?» =alobn Morissette, Jr., of Mobile, who had just crowned the Salt* <> Lake City beauty Azalea Trail queen, helps with the opening ceremony. A crowd estimated oe ih oh code die combed dehorning paste that will prevent horns from growing on calves, kitls Plans for a home made windmill fell from one letter atid I've learn: where I can 5 how have a book and train them. . ‘Pwo ambitious young ladies havé written that they would like a job as Girl Friday. | Comes also a recipe for pound on how to break hess. As a group, life insurance | @ompanies are “the largest single depository of the public’s savings,” Says the bank, and their total as- sets are. now about 68 billibn dol- evén during the leanest years of the’ great depression. - The © insur- ance companies must pit these funds to work profitably, and the ‘great expansion of industry since the: wat.has been a- golden: op- portunity for them. | ‘ 4 the) Casey has testified that Mrs. | me up a pound cake and to use| Spanish border, puts in a claim} Kgnow provided a tip that led to| ten eggs if she wishes as the cleanest city in France. | this particular 3-ship deal, and that | ——- Sixty-three per cent of the! it was worked out in the law of- | Tree rings on the giant redwoods | houses have bathrooms, The rate | fice of a partner of NewHold Mor- | in California show that some of|for the rest of Frange is 8 per ris, President’ Truman’s govern. | them were alive in 1,000 B. C. cent. | ment corruption sleuth. PICNIC (Small Tenderized) SKINLESS HAMS » 4ic|Franks » 39% CHOICE CUT WESTERN. Chuck Roast: 59: FACTORY ‘PACKED | | BRISKET RIB PORTABLE ELECTRIC = neg. 19.00 CHECK THESE FEATURES @ ROUND BOBBIN @ 2 THREAD LOCKSTITCH @ SEWS FORWARD & REVERSE @ WALKING FOOT — SEWS OVER PINS @ POWERFUL UNIVERSAL MOTOR ee Packed Tomatoes 2 * 25¢ me HILLS Pork & Beans DOG FOOD 2 «- 15¢ LIBERAL ALLOWANCE ON TRADE-INS — EASY TERMS J FOR FREE HOME DEMONSTRATION PHONE OUR KEY WEST NO. 136 2 <-: 27 € () Photo Miss America of 1952, snips a at 25,000 packed Mobile’s his- toric Bienville Square to watch the colorful coronation, a high- light of the city’s Azalea Trail Féstival, @ 10 YEAR GUARANTEE ALLIED Sewing Center 117 W. Flagler St. Miami FIRM RIPE : Bananas 2 « 19¢ GA. A MEDIUAL GS 47« OR MAIL COUPON BELOW ALLIED SEWING CENTER, 117 W, Flagter SY OOF eaten ed my part, | weald like 2 frre Bome demen- eR et GRAND ROW CLECrMIG PORTABLE SEWING MAGHIKE AT $24.50 wane : Dozen waite STATE Be (8.6.0, aadress, Send Specific Directions Bee ea seese~~-----t ' f |