The Key West Citizen Newspaper, February 23, 1953, Page 10

~ THE KEY WEST CITIZEN Market Margin Cut A HEART BEATS AGAIN.—Jesse Freeman, 4, whose heart stop- ped beating for 15 seconds and started again after a surgeon opened his chest cavity and ma 31, how he winks at nurses in ssaged it, shows his dad, James, Community Hospital in Long Beach, Calif. Jesse was in a coma for 27 days after he fell head first into some concrete. During brain surgery Feb. 8, to remove a blood clot, his heart stopped.—_()_ Wirephoto. Alisivas Costs A Lot To Run WASHINGTON (P—Senate de- baters reached bipartisan agree- ment Friday that stern Alcatraz} Prison costs more to house a pris- ANYTHING CONCERNING KUTOmOBILES SEE*THE TWINS 1130 Duval st. Dial 2-240 BiL’S PAWN SHOP 718 DUVAL st. Scientific Body Massage Relaxing - Reducing Medical AT YOUR HOME or SUN and SAND CLUB Phone 2-9436 Evenings 2-3865 j oner than would a plush, big city | hotel. Sen. Langer (R-ND), saying it |now costs twice as much to feed and house a prisoner at the island prison in San Francisco Bay as at }any other federal prison, figured the government could board in- mates “in the Waldorf Astoria cheaper.” “We could board them cheaper jin the Waldorf Astoria, or the Statler or the Mayflower,’ added Sen. Magnuson (D-Wash). The subject came up when Langer, chairman of the Senate prison subcommittee, was getting Senate approval of $5,000 for in- spection of 33 institutions oper- ated by the Federal Bureau of Prisons. Langer said he and his two subcommittee members visit the prisons unexpectedly and un- announced, sometimes “‘at three or four o'clock in‘'the morning.” Subserihe to The Citizen WHATEVER YOUR NEEDS IN THE LINE OF Children’s TOYS COME TO THE TROPICAL TRADER 718 Duval St. Dial 2-6262 ee tener e = THREE HO™"LS IN MIAMI at POPULAR PRICES SE Located in the REASONABLE RATES Heart of the City WRITE or WIRE for RESERVATIONS with BATH and TELEPHONE Riiz Hotel 132 &. Flagler St. 102 Reoms Elevator Solarium 100 Elevator Heated Pershing Miller Hotel 226 NE. Hotel Ist Ave. 229 N.E. Ist Ave. 0 Rooms Rooms Elevator 3 BLOCKS FROM UNION BUS STATION But, my dear, it's so easy @ modernizatio: to have a lovely home with mn loan from the CITY LOAN CO." @ It’s common if you need extr: logical place to sense to keep up your home and ‘a cash to make repairs the most Set it is at CITY LOAN CO. CITY tOAn co. 524 SOUTHARD ST. EY WEST DIAL 2.5681 B|vasion was made for “‘psychologi- pproved By Brokers And Exchange Men By RAY KOHN NEW YORK ‘#—Stock brekers and exchange officials voiced ap- proval today of the stock market margin cut to 50 per cent, saying it will be good for business and industry in general. The Federal Reserve Board yes- terday reduced margin require- |ments from 75 per cent. The 25 | per cent reduction means a return jto the pre-Korean level. It was ‘another move in the Eisenhower administration’s program to get away from direct government con- trols on the national economy. The board’s action—which be- comes effective when exchanges reopen on Tuesday after the three- day week end — was announced after the nation’s exchanges closed closed for the day. But securities dealers reached for comment unanimously cheered the reduction. Volume of trading during the past week hit the lowest daily average since the final week |of October, 1952. Reserve board officials in Wash- ington said the margin boost to 75 per cent following the Korean in- cal reasons”—to halt any impend- ing wild speculation. Brokers have argued that the government made investors put down what amounted to a 75 per cent down payment on stocks, whereas buyers of automobiles, TV sets and other consumer items may make much smaller down pay- ments or none at all. S. Keith Funston, president of the New York Stock Exchange, termed the margin cut ‘a most encouraging development,” and added: “The desirability of spreading share ownership among all people in a financial position to own a Part of industry is, I think, in- creasingly being realized.” Harold S. Bache, senior parther of Bache and Company, said: “. . . The market is in a healthy condition, there is no excessive apparent and there was no reason for any further delay. It should tend to stimulate the use of ven- ture capital.” A spokesman for the firm of Merrill Lynch, Pearce, Fenner and Beane said: “The lower margin requirement probably will increase volume on the New York Stock Exchange and this will be good for industry and business in general as it will pro- vide a more liquid market.” Roscoe Ingalls, president of the Association of Stock Exchange firms, said: “The lower margin requirements marks the removal of a repressive force which was as conspicuous as a sore thumb, now that virtually all other controls have been dis,} mantled.” Ingalls said the new margin figure would help open markets “hampered by high margins and excessive capital gains’ during the Local GS Troop Works On Needed Friendship Badge International Friendship is one Badge that the average Girl Scout seems to have trouble working out. Sometimes we think it is one of the most neglected Badge Field in the Handbook. But not for the girls in Troop 12, This Girl Scout Troop, one of the newest, also one of the most active in Key West, is spon- sored by the Mother’s Auxiliary of The Convent of Mary Immaculate. The girls in this Troop, reading and hearing of the dire need of the people in Holland who suffered such heavy losses io life and pro- perty because of the flood condi- tion that had befallen, rolled up their sleeves and went to work. With the permission and help of their Sponsors they made cakes, cookies and candy, sold them very successfully and turned the pro- ceeds of the sale to the Holland Flood Relief. Members of Troop 12 who worked at this very nice gesture were, Elaine Jolly, Diana Blanco, Arleen Hinton, Rose Marie Mat- tingly, Margarite Garcia, Nancy Conly, Ronda Brewster, Ruth Curry, Raylene Foster, Jo Ann Farrell, Margaret Carrol, Gail Guinette, Henrietta Sands, Ra- chel Mattingly, Virginia Rios, Linda Curry, and of course, Troop Leader, Mrs. Mary Brew- ster, Naval Reserve Officers Will Organize Here A meeting will be held in Build- | ing 91, U, S. Naval Station, on Monday evening, March 2, 1953, at 8 o'clock. Arrangements will be made for admission to the Naval Station through the Greene Street | gate, near the Shore Patrol Office, for the purpose of attending this meeting. Every Naval Reserve Officer in the Key West Area who is not on active duty and who has not been placed on the Inactive Status list should make it a special point to attend this meeting. Whether or not you decide to become asso- ciated with the unit, it is in your interest that we urge you to at- tend. Participation in the activities of a Naval Reserve Volunteer Unit, under current regulations, will in no way effect the order of your potential re-call to active duty, past several years, Reducing the margin means per- sons who wish to buy stocks they think will go up, or sell short those | they think will go down,, can do so; with less of their actual cash in-; volved. Under the new require- ments they need put up only half of the cost—but still must find credit for the remainder, Selling short is seuiny stock you do not have. The broker borrows the stock and delivers it to the buyer at the prevailing selling jprice. The stock is ‘“‘sold short” in anticipation that, by delivery | | time, the stock has gone as low | as possible and can be bought back {at a profit. Model Gets Two Years’ Probation SANTA ANA, Calif. — Holly- wood model Inga Borg has been placed on probation for two years after being given a 30-day sus- pended sentence Friday on con. vietion of lewd and lascivious con- duct, “She is a victim of one of the oldest routines in Hollywood—the casting couch routine,” said Sup- | erior Judge Robert Gardner. “I think she did it because she was | promised a lot, and which many | people do a lot to obtain.” | In her trial she testified that she | posed willingly for photographer Richard A. Mitman, 34, with whom she was convicted, because he | threatened her with violence. The charges against; Miss Borg, jwhose real name is Ingeborg | Schniteler, were based on 72 nude | pictures taken in a Laguna Beach | j hotel last Sept. 20. Mitman has been committed to |the Norwalk State Hospital for 90 | ‘days observation. | MAILMAN ATTACKS DOG | CUMBERLAND, Md. ®—The mailman’s continuing battle with dogs took a reverse twist here Fri- jday. A dog owner sued a mailman | {for a “vicious and wanton” attack on his pet — a chihuahua David T. Tharp sought $5,000 damages from mail carrier John J. Clark im a suit filed in Circuit Court. Tharp’s suit- charged that Clark “viciously aod wantonly stamped the dog to death” and further quoted the mailman as declaring he'd kill all the dogs and cats be found, | ANNOUNCING FRONT WHEEL ALIGNMENT WHEEL BALANCE ill's Southernmost Garage 540 Greene St., cor. Simonton Repairing? Remodeling? Painting? Stop in today and see |) our Local Representative |} who will be glad to assist you in working out a loan on a monthly pay- ment basis. Loans made on real estate, auto, household furniture up to $300.00 with a monthly payment |) low as $18.68. Town Finance Co. Of Key West $2 Duve! St. Phone 2-5684 VIENNA SAUSAGE | @Disinfect AN Heavy Western Steer Beef U. S. Govt. Graded GOOD ROUND er CUBED STEAKS « 79¢ Lean PLATE STEW ..... lb. 19 GROUND BEEF LEAN ... REGULAR GRIND! 1.29 ae BIG LYKES PALM RIVER EARLY BIRD" BARGAINS Th Wed'day 1835 Flagler Ave. Hanover Grade A TOMATO JUICE Giant 46- | 23. LIVER BACON LAMB __ Ib. 33c Oz. Can BUYS! pantie Rich In Vitamins Sliced BEEF ____ Ib. 59c PORK __ Ib, 29c 1-LB. ghey Cc CALF __ Ib. 89c Dirr's Quality Gold Seal WIENERS __ LB, Bs 49% e « Ib. 39 Big, All Meat BOLOGNA Sliced or In The Piece LIVER SAUSAGE __ Smoked SAUSAGE Famous “LYKES” Brand > CANS C kaha did didd i ttitg¢éeLZLLaary IT’S CHERRY PIE TIME! CHERRI-PI-PAK RED SOUR PITTED CHERRIES 3 -*» - Pillsbury’s PIECRUST MIX yi 9% Oz. Pkgs. 35¢ OM Mh hh hh hh hkuadal PRODUCE LETTUCE tog te D2. vos 19¢ U.S. No. 1 Red Bliss POTATOES ...5 lbs, 25e Extra Fancy Red Delicious, Winesap APPLES o- ronee2. Ibs. 39e F205e¢ FOODS Libby Frozen ORANGE 6-0z. Size JUICE .. . »o4 eans 49e- BUTTER BEANS ....3 pkgs. 49c With Meat MAH’S CHOP SUEY. . lb. pkg. 49c 3 — BAKE-RITE ee CHOCOLATE Be COCOA 26c Beech-Nut | BABY FOOD, strained 1] for $1 Chopped 7 for $1, PETER PAN PEANUT BUTTER Plain, Crunchy 12-02. JAR Lipton Soup Mix ONION . . 2 pkgs. 31- CHICKEN NOODLE .. pkg. 37< Woodbury FACIAL SOAP 3 N : . . . : N : VwLB. PKG, hd hide dade ded ddd de WwLB. PKG. | | | Get The Bleach With The NEW “HIBITIN” ADDED @Sanitize @Deodorize GAL. @ Whiten 2 Cr. PKG,