Federal Reserve System Tightens
Credit Controls to Check Inflation
WASHINGTON tfV-The Feder-«
al Reserve System, seeking to
head off possible inflation, has
screwed the lid down tighter on
the rapidly swelling demand for
credit.
Its success—or lack of success
—in preventing inflation may
have much to do with whether
you get a tax cut next year.
The Reserve Board approved,
effective today, a move by six
additional reserve banks to boost
their discount rate from 2 % to
2Y4%. That is the rate at which
they lend money to member com
mercial banks which, in turn, lend
to businessmen and others.
The action was taken by the
reserve banks of New York, Chi
cago, Richmond, Kansas City, San
Francisco and Dallas. It made the
2V4% rate effective in 10 of the
12 reserve districts. Only the Bos
ton and Minneapolis reserve
banks are still lending at 2%.
Other factors, of course, will'
also help determine the chances
of a tax cut, among them the pol
itical situation and the outlook
for a balanced budget. But the
National Guard Firing
Range At Dexter Is
Available To Civilians
Maj. Siegwart of the Alaska
National Guard announced today
that the A.N.G. has constructed
a firing range at Dexter with
earthen pits for the target oper
ators. He said that when the
ranges are not in use by the
Guard they would be available
for use by organized groups such
as rifle teams and the like.
Maj. Siegwart also said that the
Guard would provide men to
teach the operation of the ranges.
At present two ranges have
been set up, one at 100 yards and
the other at 200 yards. The range
will accommodate heavy calibre
guns.
Any inquiries into the use and
availability of the firing ranges
may be addressed to Maj. Sieg
wart at the Alaska National
Guard Armory across from the
Post Office.
>———
steadiness of the nation’s economy
is a major consideration.
President Eisenhower’s Admin
istration has set as one of its ma
jor goals the prevention of infla
tion.
A tax cut itself tends to be in
flationary, because it frees more
money for spending. In a period
of inflation and rising prices, the
administration might find it em
barrassing if not impossible to
recommend a tax cut that would
increase buying power.
But if the threat of inflation has
been beaten back by early next
year, the administration would
find it much easier to recommend
a tax cut.
The 2x/4% lending rate of the
reserve banks is the highest level
in 20 years, and is considered def
initely a “restrictive” lending
rate.
Miss America Judging
Moves Into Final Round
Of Prelim Competition
ATLANTIC CITY, N.J., W—
The Miss America Sweepstakes
moved into the final round of pre
liminary competition today, with
four charmers from the South,
Oklahoma and Hawaii leading the
45 other entries.
Top honors in last night’s swim
suit and talent contests went to
Miss Oklahoma and Miss Florida.
Results in evening gown competi
tion are kept secret.
Sharing the preliminary front
runner spots were Miss Alabama,
Patricia Byrd Huddleston of Clan
ton, and Miss Hawaii, Barbara
Mamo Vieira of Honolulu, who
won Wednesday night.
Miss Florida, Sandra Wirth, 19,
of Miami, received a big ovation
in Convention Hall as she twirled
flaming batons to cop the talent
decision.
The big night is tomorrow,
when 10 semi-finalists will be
selected, and the five finalists.
From this select group of five, the
judges will pick the new Miss
America before a nationwide TV
aulience.
^ JAN. FEB. MAR. APRIL MAY JUNE JULY AUG. ^
j 19b 6
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* JAN. FEB. MAR. APRIL MAY JUNE JULY AUG. 8
ELECT
GEORGE
SUNDBORG
"(I ' ' V , :
Delegate To
CONSTITUTIONAL
CONVENTION
Candidate From
Territory at Large
His Nominating Petition signed
by residents of Nome, Kotze
bue, Unalakleet, Fairbanks, t
Anchorage, Cordova. Juneau.
Haines, Valdez, Douglas, Sitka,
College, Kodiak, Skagway, and
Ketchikan.
For The Best
Constitution
For All of Alaska
Elect a Tried and True
Friend of Statehood
And Progress
George Sundborg
i
L— ii i —. ————I i
Meats for Babies
...Swift’s
most precious
I
product
Giveyour baby
I the goodness and flavor of a
I Swift meat meal!
ASTRONOMY NOTES
By OLAF HALVERSON
A very unusual and interesting
grouping of planets has been oc
curring in recent weeks. Five
planets are located in directions
close to that of our sun. They are
Jupiter, Uranus, Venus, Mars, and
Mercury.
According to Newton’s law of
universal gravitation, all of these
planets exert a certain amount of
attraction on the earth’s surface,
making earthquakes more fre
quent in certain areas of the
world where the earth’s crust is
weak. Two such earthquakes have
been reported.
The most critical time is when
the moon moves into this same
attracting area and adds its tide
making power. This we have no
ticed in the extreme low and high
tides of Nome.
* * *
A week ago the beautiful Har
vest Moon was shining, making a
small angle with the horizon. In
three weeks we shall see the
Hunter’s Moon.
ORDER AND NOTICE OF
SPECIAL ELECTION
To the Electors of the City of
Nome, Division No. 2, Territory of
Alaska:
Notice is hereby given that pur
suant to Chapter 46. Session Laws j
of Alaska, 1955, approved March
19, 1955, a Special Election will be
held on
TUESDAY, SEPTEMBER 13. 1955
between the hours of 8 a.m. and
8 p.m. of said day for the purpose
of electing delegates to the Consti
tutional Convention of Alaska
1955, from the following Election
Districts:
Seven Delegates from Election
District No. 22, The Territory of
Alaska at Large.
Four Delegates from Election
District No. 9, The Second Judi
cial Division.
One Delegate from Election
District No. 7, The Cape Nome
and Wade Hampton Recording
Districts.
The Common Council of Nome,
Alaska, having heretofore, by Or
dinance, duly designated the Vot
ing Precincts of said town or city
and the polling place in each
thereof, the Electors are hereby
notified:
That all duly qualified voters
residing within the boundaries of
Voting Precinct No. 1 -of said
Town of Nome which are as fol
lows: within the limits of the City
of Nome will vote at the City Hall
building, located on Front Street,
between Blocks G and H which is
owned by the City of Nome and
occupied by the City of Nome, the
same being the duly designated
polling place in and for Precinct
No. 1. Cape Nome Recording Dis
trict.
Dated this 13th day of August,
1955.
(Signed) The Common Council
of the City of Nome
By Carrie M. McLain
Clerk
Publ. Aug. 31, Sept. 9, 1955.
Heiress* Mother
Key Witness in
Abortion Death
PHILADELPHIA The moth
er of heiress Doris Silver Ostrei-.
cher will break her seclusion to
answer charges of conspiracy and
of being an accessory before the
fact of an abortion -that caused
her daughter’s death.
' The charges were preferred
against Mrs. Gertrude Silver late
yesterday by Dist. Atty. Samuel
Dash, who previously had termed
Mrs. Silver a “cornerstone wit
ness” in the homicide investiga
tion.
Mrs. Silver has been in seclu
sion since the death of her beau
teous 22-year-old. daughter Aug.
24, suffering from what her phys
icians have termed “bereavement
shock.”
Mrs. Silver’s attorney, Thomas
D. McBride, appeared at City Hall
last night to accept two warrants
containing the charges against his
client, wife of an executive of a
large East Coast supermarket
chain. He notified city authorities
that Mrs. Silver would appear
Monday in police court to answer
the charges.
Mrs. Silver went with her
daughter to the North Philadel
phia apartment where Mrs. Os
treicher died under mysterious
circumstances on the night of
Aug. 24.
At an inquest last Friday, Dr.
Melville J. Aston, city medical ex
aminer, said the young heiress
died in an attempt at an abortion
by “person or persons unknown.”
This Little Skunk Went
By Pan Am To Seattle
SEATTLE, — Mrs. Peggy
Fraser of Juneau created quite a
stir Wednesday when she ar
rived at the Seattle-Tacoma In
ternational Airport wearing a fur
piece.
Not often does a fur piece—
even a skunk fur piece—cause
any excitement.
But this one was alive.
Pan American World Airways
officials agreed to let Mrs. Fraser
aboard the Juneau flight when
she. assured them the skunk was
“deodorized, bathed and house
broken.”
What’s more, its name is Rose
bud. “She probably will behave
better on this trip than some of
your human cargo,” quoth Mrs.
Fraser.
But Rosebud wasn’t forced to
sit with the human passengers.
She had the cargo compartment—
all to herself.
LOMEN COMMERCIAL COMPANY
NOME. ALASKA
WHEN IN THE MARKET FOR EQUIPMENT AND TOOLS
IT WILL PAY YOU TO INVESTIGATE THE MANY LINES WE REPRESENT
Allis-Chalmers Mfg. Co. Tractors, Pumps
Belt Drives, Electrical Equipment
Baker Manufacturing Co.Dozers and Plows
DeLaval Steam Turbine Co. Pumps
Detroit Diesel Engine Die. Diesel Engines
Gar Wood Industries . ’Dozers
Gates Rubber Company . Belts
Hobart Manufacturing Company . Welders
Hydraulic Supply Mfg. Company . Pipe
Jaeger Pumps, Compressors, Concrete Mixers
A. Leschen & Sons Rope Co. Wire Rope
Lincoln Engineering Co. Greasing Equipment
*allory . Blocks
°na" ..... Light Plants
Owalonna Tool Co. Hand Too,s
Power Machinery Co. Power Saws
S K F Industries . Bearings
Smith Welding Equip. Corp. Welding TooU
Thew - Lorain Shovel Co. .... Cranes & Shovels
yhof.. . Pneumetic Tools. Electric Saws
Timken Roller Bearing Co. Bearings
Willard Batteries . Batteries
Wisconsin Motors .
. Motors
ALSO DEAJLERS IN LUMBER, STANDARD OIL PRODUCTS
LIGHTERAGE AND COASTWISE WATER TRANSPORTATION