FRIDAY. JANUARY 7, 1955
Stock Market Hit
By Sellin:•, Wave
NEW YORK, Jan. 6 (fP)—Waves of selling _engulfed the stock
market today for the second day in a row, but a rally in late after
noon trimmed losses.
At the close, wider declines
West Germany
Awaits French
Firal Action
BONN, Germany, Jan. 6 (R)—
Should 'West Germany's Parlia
ment wait for final action by the
French before ratifying the Paris
rearmament treaties?
Adenauer himself is in a hurry.
He. wants German ratification
early next month of the pacts,
which would give the Federal Re
public sovereignty and authorize
the raising of German armed for
ces for NATO.
Some Bonn politicians, nowever,
still have rueful' memories of last
year, when the West Germans rat
ified the European , Defense Com
munity only to see it rejected later
by the French National Assembly
They argue it would be better
for the Germans to hang back this
time and see what •he French do.
This vievo . was reinforced by ,the
difficulties French Premiar Pierre
Mendes-France had in getting
grudging approval -of the Paris
treaties by the French Assembly
in December.
Altoona Mayor Orders
Lady Cops Into Slacks
ALTOONA,. Pa., Jan: • 6 (Th
Mayor Walter H. Grove, tired 'of
lady cops complaining of arthritis
and other discomforts .caused by
standing on cold 3ayements, to
day ordered them to wear slacks.
Mrs. Jane .• Berard, one of this
town's 37 lady cops who guard
school children, refused and re
signed.
It Happens
WASHINGTON, Jan. 6 (JP)—At
12:31 p.m. today the House door
keeper, William N. '"Fishbait"
Miller, hurried down the center
aisle of the house, paused and
announced:'
"The President of the United
States."
And the general who had lost
a political war smilingly advanced
into the camp of the enemy to
talk of the State of the Union.
Such are the wonders of U.S.
politics that the Democrats, who
were snarling at the Republicans
two short months ago, applauded
as loudly—well, almost as loudly
—as the Republicans.
The President himself, who had
Warned of dire consequences if
the Democrats took over the Con
gress, began with a graceful
compliment to one of the leading
Democrats, Speaker Sam Ray
burn of Texas, celebrating his
73rd birthday today.
And Eisenhower went on to say
how he and the Democratic con
trolled Congress would have to
work with each other.
Everybody cheered politely.
Probably it won't last long, but
until something shatters the har
mony; peace, it's wonderful.
Possibly next to the President
the person who attracted the most
attention was a moderately husky
man With a built-in scowl who
sat in the diplomatic section,
Georgi N. Zaroubin, the Russian
ambassador.
Zaroubin smiled pleasantly as
he sat down, and he applauded
when Eisenhower came in.
CHICK WAGON
(under new management)
Specializing
. in
BUDGET LUNCHEONS
for
STUDENTS
200 E. College Avenue
ranged from $3 to $5 a share in
'the higher-priced issues.
Volume surged to 5,300,000
'shares, greates since Sept. 5, 1939,
when. war broke out in Europe.
Selling became so intense in
the afternoon that the ticker
dropped 13 minutes behind in re
porting transactions on the floor.
Brokers' offices were jammed
and their phones seldom silent.
Announcement that a Senate com
mittee planned to study the . long
rise in the market-brought a flood
of new queries to dealers.
Teletype facilities linking up
town brokerage offices with their
Wall Street headquarters were
swamped with orders. On the
floor of the exchange, activity
was hectic. The visitors' gallery
was crowded.
Brokers watched closely fo r
signs that • the big group of new
investors was selling. They re
ported considerable unloading by
"non-professionals" but expressed
belief that the great majority of
smaller investors was holding on.
It was difficult to pinpoint the
role the average investor was
playing. One broker declared 'the
public today isn't speculating as
it was in 1946, when the market
reached a peak and then sold
down sharply. It's widely believed
that most newcomers to the mar
ket are buying ,securities to put
away in strong boxes—not to
make a quick profit.
The market started sliding yes
terday when it suffered the widest
break since the' Korean War broke
out 4% years ago. The decline
was touched off by Federal Re
serve Board action raising mar
gin requirements from 50 per cent
to 60 per cent, but many analysis
suggested the market was ripe
Ifor a sharp fall anyway, having
climbed so high.
ht the U.S.
But from then on, his expres
sion didn't appear to vary.
Even when Eisenhower was
discussing the Soviet Communists,
Zaroubin's expression didn't
change from one of glum contem
plation.
Eisenhower's speech wasn't the
kind that causes a hearer "to ruin
his hands by beating them exces
sively. State of the Union Mes
sages, which try to sum up literal
ly almost everything in the world,
rarely are.
But when he finished, with an
apology for having talked so long,
53 minutes, Republicans, Demo
crats and most of the diplomats
joined in the applause.
Many eyes were on the man
with the scowl. Georgi Zaroubin
didn't applaud.
et 600 eli , . fgHiVy. .:'..- 03 4,v,
.
;
, M
:..- ' OW 1
' ? 2 '. ' - :• 1, -.
Dean Jerry
Martin Lewis
"3 - RING CIRCUS"
000000
,
Doors
Open
5:15 p.m.
JOAN CRAWFORD
"A WOMAN'S FACE"
with Melvyn Douglas
Featuretime : 5:39, 7:34, 9:30
THE DAILY COLLEGIAN STATE COLLEGE PENNSYLVANIA
Luxury Liner
Rescues Ten
Off Bermuda
Jan. 6 (W)—The gay •luxury
liner Queen of Bermuda back
tracked 150 angry ocean miles to
day to take 10 hapless fishermen
from their foundering craft in
mid-Atlantic.
All told the actual rescue opera
tion took about 90 minutes, but
they were breathtaking ones
both for the rescuers and those
rescued.
Once, blown by wind and
waves, the derelict Student Prince
II passed hard by the Queen of
Bermuda's bow. Those nearest the
bow of the Queen said a possibly
tragic collision was missed by
only a few feet.
The ten who were saved, all
from Newfoundland, comprised
the Student Prince's entire com
plement.
They were exhausted by their
ordeal, but only one had suffered
injury.
The Student Prince; . taking
water badly, sent its first call for
help about 11 o'clock last night.
Atheistic Propaganda
MOSCOW, Jan. 6 (JP)—The
newspaper Soviet Culture dis
closed today that Soviet culture
ministries have stepped up their
propaganda for atheism, but with
due regard for the warning from
Communist party chief N. S.
Khrushchev to avoid unnecessary
roughness against churchgoers.
~ ~ ~ ~
~ ~ ~
» y ~ \
• .;•;:i:';:z.f.i.:K:i;:?•l
[~ %='~:°
A Campus-to-Ca
O'Hara (left) works out a problem with a member of his crew
His territory :
TWO CITY BL
James O'Hara, Stevens Institute of Tech
nology (M.E. '5l) , is an installation fore
man for the New York Telephone
Company. His present assignment is
two city blocks between 45th and 47th
Streets in the middle of Manhattan.
"It doesn't measure very big horizon
tally,"Jim says." But vertically it makes
up a lot of telephone business-7500
telephones to be exact. My eight-man
crew does everything from installing a
single telephone to working on complete
'dial intercom systerhs for some of the
nation's biggest businesses.
You'll find that most oilier college men with the tele
phone company are just as enthusiastic about their
jobs. If you'd be interested in a similar opportunity
with a Bell System Telephone Company—or with Sandia
Corporation, Western Electric or Bell Telephone Lab
iiratories, see your Placement Officer for full details.
4 Claim to Be
2000 Years Old
NEW BRITAIN, Conn., Jan. 6
(?P)—Four Polish refugees claim
ing to be 2000 years old, including
one who professed •to be Jesus
Christ, were ordered to undergo
psychiatric examinations today
when they appeared in City Court.
John , Tschaplinski, 50, one of
the four, was arrested ',3y police
Tuesday. They said he was garbed
in a loin cloth made from a diaper
and was wearing a cro w n of
thorns which caused him• to oleed
from the hea d. Tschaplinski
showed wounds in his hands and
feet and claimed he was Jesus
Christ.
Also taken, into custody were
Mieczyslaw Majewski, 38, and two
women, Antonina Susz'iko and
Dina Karanowicz, both about 30.
Warrants were sworn out for their
arrests after police received com
plaints of "something peculiar"
going on at the tenement where
all resided. They were booked on
an alleged violation of a state law
forbidding persons to claim to be
a deity. •
Dressed ,in black robes, with
white cloaks covering their shoul
ders and Bibles in their hands.
the four made their appearance
before Judge Harry Ginsburg.
Following the recommendations
of the city attorney, Judge Gins
burg ordered the examinations
and continued: the case until Jan
15, pending the outcome. Bail was
set at $lOO each.
reer Case Hi
~:: i'i:'%"'.~: ':
"I've got to know about each of these
jobs that my men do. My training with
the telephone company took me through
the installation, repair and testing of the
various types of telephone equipment
and service for which I am responsible.
I even had a chance to do a little experi
menting of my own and developed a new
way of preventing oil seepage on auto
matic switching equipment. I under
stand it's being written up for use
throughout the Bell System.
"That's what I like about telephone
work. Even two city blocks are full of
opportunity."
Dag, Chou
id First
\Aratini
UNITED NATIONS, N.Y., Jan.
6 (VP) Dag Hammarskjold and
Chou En-lai talked for 3 1 / 2 hours
in Peiping today about 11 Ameri
can fliers jailed as spies and other
UN personnel held by the Com
munists.
The UN said they will meet for
a second round tomorrow.
The UN secretary general and
the Premier-foreign minister of
Red China went into their first
formal conversation flanked by
high, British-trained legal advis
ors. UN circles here speculated
that the legal aspects of the issue
revolving around the imprisoned
fliers were paramount in this ini
tial meeting.
Hammarskjold flew to Peiping
in a dramatic effort to obtain the
release of the American fliers and
the repatriation of other UN per
sonnel held by the Communists
from the Korean War.
In UN Assembly debates on the
issue, the United States and its
Allies declared the fliers were mil
itary personnel, not spies, and
should be treated as prisoners of
war.
The Communist bloc replied that
these men were shot down in
China on an espionage mission
and their convictions were in ac
cord with Chinese law.
story
..............
••••••••••••••
•••••••••••••
........,......
~ \&
~ /.
~~:
:may
—~ 2
/~~ \
n.N.,...4:"
Lt Ai1ij0x i..'0:ww..,....,...,.
:....,...Aig5,,,,,,,,,i,
PAGE THREE
L; l ia l Ud
~~ ~F
~
ƒ~q~
BELL
TELEPHONE
SYSTEM