Newspaper Page Text
Tuesday, May 10, 1966
Stock Market Dives
To Lowest In Year *
NEW YORK (UPI) —Stock
prices, in their sharpest plunge
since President Kennedy’s as
sassination, hit the vear’s
lowest levels Monday when the
market retreated for the
second time in a week following
word of auto production cuts
and uncertainty over inflation.
Triggered by General Motors’
weekend announcement of a
production slowdown, prices
began falling at market opening
and were doing so at tha close
when a brief rally was halted
by news Ford Motor Co. will
produce 18,000 fewer cars than
planned this month.
Tlie news from Detroit was
an unsettling factor in a
market already disturbed by
possibility of an increase in
taxes. Prices dropped from 1 to
4 points on investment grade
stocks while glamor Issues fell
fci cases by more than 10
points. industrial
■ftje Dow-Jones
average dropped 16.03 points,
the sharpest plunge since the
21.16 dflpp on the day of
Kennedy’s assassination, Nov.
22. 1963. It fell 15.09 points last
Thursday, when GM gave first
indication of its plans to reduce
production, It made some
recovery Friday when GM
indicated its plana for a
,slowdown in production were
uncertain, but on Saturday, the
auto producer announced flatly
We Are Now
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Griffin Daily Nears
that 8 of its 24 plants would
have short work weeks for the
rest of May.
Although the Dow-Jones indus
trial average reached an all
time high of 995.15 only three
months ago, the sudden drop
Monday brought it to a nine
month low of 880.80. The Dow
Jones rail and utility averages
also dropped to new lows for
the year, as did the Standard ti
Poor's indexes.
Of the 1,264 stocks which
showed a price change Monday,
991 of them were on the
decline. Three of the stocks
reached new highs for the year,
but 237 fell to new lows.
However, some observers
were encouraged by tha fact
that trading dropped to 9.29
million shares from tha 13.12
million mark of last Friday —
the third highest turnover
Mrs. Sanders Declines
Bid To Run For Office
ASHBURN, Ga. (UPI)—Geor
gia and Alabama may have
some things in common, but
one of them won’t be a gover
nor’s wife turned gubernatorial
candidate.
That was the verdict of Mrs.
Carl Sanders who graciously
declined Monday a bid to run
in the democratic race to suc
ceed her husband.
The suggestion that Mrs.
Sanders become a candidate
came from Mrs. Nora Law
rence Smith, editor of the
weekly Wiregrass Farmer, who
said that only a woman could
beat GOP Rep. Howard (Bo)
Callaway.
Mrs. Sanders replied, “I am
honored that anyone would con
sider me worthy of serving the
people of Georgia as governor.
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10
volume in New York Stock
Exchange history. That was
exceeded by trading « 14.7
million shares on May 29, 1962
and 16.4 million shares on Oct.
29, 1929.
On the American Stock
Exchange, second largest in the
nation, price declines outnum
bered gains by nearly a 3-1
ratio. Two issues reached new
highs, while 84 fell to the year’s
lowest levels.
The biggest losers on the
New York Exchange were in
the airline, electronic and office
equipment Issues. Northwest
Airlines dropped 13 points to
187, IBM was down 10y« and
Fairchild Camera fell 10 points.
Three color television produ
cers—Admiral, Zenith and Mo
torola-all declined 10 points or
more.
But I have no aspirations for
public office."
Three More
Georgians u
Die In Viet
WASHINGTON (UPI) — The
Defense Department Monday
identified three more Georgians
among U. S. servicemen killed
in action In Viet Nam.
They were Army Warrant of
ficer Darwin H. Engman, hus
band of Mrs. Barbara Engman,
Columbus; Army Sgt. 1C. Glenn
A. Kennedy, husband of Mrs.
Elizabeth Kennedy, Columbus;
and Army Sgt. 1C. Paul E.
Swim, son of Mrs. Jenette
Swim of Augusta.
Rattlesnake
Bites Preacher
KNOXVILLE, Tenn. (UPI) —
A preacher, bitten by a rattle
snake during a snake-handling
ceremony Sunday, was report
ed in critical condition Monday
at University Hospital.
The man, Coy Barnes, 27, was
bitten at a gathering of the cult
in a small tent near Sevierville.
Members of the religious sect
from Tennessee, North Carolina
and Virginia attended the cere
mony.
Sheriff Ray Noland of Sevier
County said Barnes and an un
identified man from Wise Coun
ty. Va., were bitten as the
snake was passed through the
crowd.
“The man from Virginia. . .
wouldn't go to a doctor,” No
land said. “I was told that he
was awfully sick at a house
after being bitten.”
Gov. Sanders commented,
“There’s one thing I’ve learned
in life. That is, I don’t ever tell
my wife what to do, how to do
It, or when to do it.”
Mrs. Smith maintained a
woman would make a better
governor anyway.
“Women, when they work, do
the best Job better than men
do It. They take It more to
heart,” said the editor.
Mrs. Smith, however, was
having trouble getting support
for her idea from other sources,
besides Betty Sanders.
“I can’t get It across to those
Atlanta Democrats,” she de
clared.
Record Cold Nips
Spring Blossoms
By U n ited Press International
Record-breaking cold covered
a wide section of the country
today from the Midwest to the
mountains of New England,
where icy rains and snow
nipped spring blossoms in the
bud.
The mercury dropped to an
unofficial 19 degrees in subur
ban Chicago. It was 23 degrees
AWOL Sailor,
14-Year-Old
Wed In Jail
HUNTSVILLE, Ala. (UPI) —
Leonard and Kathy Price are
man and wife today but the
U. S. Navy may have some
thing to say about when they
start their honeymoon.
Sailor Price, 18, and his 14
year-old child sweetheart were
married by Probate Judge Ash
ford Todd in city jail Monday.
Price faces charges of being
absent without leave from his
base at Charleston, S. C.
Todd gave the young couple
strong advice on living together
and the need for being kind to
each other.
Following the brief ceremony
Mrs. Price returned home with
her parents and her husband
returned to his jail cell.
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A study circulating among high government officials day step warns
that expected new nuclear discoveries could some up
sharply the countries—such effectiveness of Bed Viet guerrilla Nam, the wars Congo, In under
developed as Guate
mala, Thailand or Burma. nuclear
These studies assume a weapon small enough to he
carried in a suitcase will be practical (at some
date). it would he unlikely that the guerrillas hi
underdeveloped They assume country would be able to make suitcase any
a
nuclear bomb of their own.
But some time in the future it would not he difficult for
Russia or Red China (or Egypt if it makes the bomb) to
smuggle such weapons into any underdeveloped country
wb?re a strong “nukes" guerrilla could group be was held fighting. under Hie operational
The suitcase
military control of the Bed Chinese, Russian or Egyptian
“advisers.”
The small bombs could be placed on the target city and set
off by the foreign “advisers” or by agents working under
their supervision. The bombs would be set at night by stealth
and likely no one would be able to prove who set them off.
destroy They would effective usually be aimed at that the capital guerrilla city so as to
government period so of the forces
could take over in the resulting cMta to and
disorganization.
THE THREAT OF NUCLEAR RETALIATION xm effective
against But Khrushchev fistful at of the countries time of is the making misriln crisis.
once a nuclear weapons,
a threat of nuclear retaliation against a country that exports
and explodes suitcase bombs might well be Ineffective. Who
could prove where the suitcase bombs .came from?
The report says:
case-.bombs, “Very minimal could programs • • • enough to produce a few suit
(underdeveloped) , assume especially great political potential in these
areas, where a national society ia
made very vulnerable by a high degree of .centralization.
“THE EFFECT OF A SINGLE FISSION (atomic) weapon
upon an American city would be very great, but America
would be able to continue with only minimum effects.
“A selectively located nuclear explosion in Addis Abaiba
or Caracas,, on the other, hand, could veiy effectively decapi
Saigon (Consider the effect of a nuclear suitcase bomb set off in
in 1959 or a nuclear explosion in Leopoldville, the
Congo, at the height of the Red-sparked revolts.)
take “Very small nuclear development programs can therefore
than in on greater significance in the underdeveloped world
Some great officials power believe relations.”
repititious suitcase bombs the will only be to effective counter to stnw
developed countries develop strong help local threatened under
governments that wouMnot be destroyed decentralized
by the nucl ea r pul-
at Lansing, Mich., and falling,
the lowest temperature ever
recorded there during the
month of May.
Detroit had a 28, the lowest
ever reported this late in
spring, and a 24 at Milwaukee,
Wis., matched the all-time low.
The U.S. Weather Bureau
said the polar blast would
sweep through Dixie during the
day. Warmer weather prevailed
in the interior western states,
and Presidio, Tex., boasted a
103 degree reading Monday.
One inch of snow fell Monday
at Albany, N.Y., and at
Burlington and Newport in
Vermont. Several inches fell in
the mountains of Maine, New
Hampshire and Vermont during
the night.
A squall line ripped through
Orange Park, Fla., on Monday
with tomadic winds. Torrents
of rain fell, the roofs were
IKE CHECKUP
WASHINGTON (UPI) —For
mer President Dwight D.
Eisenhower, in Walter Reed
Army Medical Center for his
customary physical checkup, is
expected to return to his
Gettysburg, Pa., farm about
mid-week.
The 75-year-old Eisenhower
entered Walter Reed last
Wednesday.
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★ WASHINGTON COLUMN *
Suitcase A-Bomb: Threat
in Future Brushfire Wars
BY BAY CROMUSY
Newspaper Washington Enterprise Correspondent
Assn.
f WASHINGTON
rippe from six houses and a
dozen other homes were
damaged. Only two minor
Injuries were reported.
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