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—Kansan photo by Liz Wohlgemuth
STAND CLEAR, HEAVY CONSTRUCTION—Steel work on the new Gertrude Sellards Pearson girls dormitory shoots skyward as warm weather ends a two month layout in construction. The dorm, which is slated to be ready for occupancy next fall, will house 443 women.
Wednesday, March 9, 1955 University Daily Kansan
Bright Future Seen by Broker
Washington — (U.P.) The stock market is booming because investors feel sure a long period of prosperity lies ahead, a top official of the nation's largest brokerage firm said today.
This confidence in the nation's economic future has led more people to buy stocks as a long-term investment, Winthrop H. Smith told the Senate Banking committee. The committee is investigating whether the current market boom is a healthy one.
Mr. Smith is managing director of Merrill Lynch, Pierce, Fenner & Beane, a brokerage firm with headquarters in New York and offices throughout the nation and some places abroad.
He said investors consider the future bright because there are prospects for continued peace, the nation's growing population will keep consumer demand high, living standards are still rising and new industrial frontiers are opening in such fields as atomic energy and electronics.
He also cited more favorable government policies toward business as reflected in expiration of the excess profits tax, the flexible credit policies of the Federal Reserve board and "mild relief" from double taxation of stock dividends.
Mr. Smith testified in the wake of yesterday's sudden, sharp drop in the stock market when losses ranged beyond $5 a share. Some observers said the drop may have resulted from a recommendation by a Harvard economics professor to the committee yesterday that the government raise the margin for stock purchases from 60 to 100 per cent.
But Committee Chairman J. W. Fulbright (D-Ark.) said he could see no connection between the committee's investigation or Prof. John K. Galbraith's testimony and the market drop.
AEC Sets Briefing On Next Atomic Test
Las Vegas, Nev. — (U.J.P.) The Atomic Energy commission scheduled another weather briefing today to plan the fifth shot of the 1955 test series at the Nevada proving grounds.
Following a similar briefing yesterday, the AEC said no shots would be fired today because of unfavorable weather.
The fourth shot of the series, and the largest, was touched off Monday morning and was seen in 10 western states.
Monday Atom Test Stirs Up Crazy Cloud
It went three ways at once, meteorologists reported today. Part of it soared east from the proving ground and is now far out over the Atlantic.
Washington — (U.P.) — Monday's big bang in Nevada produced the craziest and most mixed-up atomic cloud of the spring test series.
Some of it drifted west and got shredded up in the mountain passes of California.
Another bit steered northward for a while and then turned east to get dissipated in a large area over northern Nevada, northern Utah, and southern Wyoming, and northern Colorado.
Mixed up as it was, there was no real harm in the cloud as far as the people below it were concerned. Neither the Atomic Energy commission nor the weather bureau has heard any interesting news concerning it.
A few seconds after the explosion Monday, it looked as though the cloud might drop a little radioactive dust. The scientists and military observers
That was when a cross wind whipped part of the cloud stalk in their direction. The observers got out of its way in a hurry and no fallout was reported.
As the AEC has explained often, the gadgets blown up in Nevada don't pack enough power to create a fallout hazard outside the test area.
After some Nevada explosions, there have been reports of radioactive hail or rain and fogged photographic equipment hundreds or thousands of miles from the proving ground.
Such radioactivity has, however, been far too slight to hurt anybody. Monday's cloud apparently didn't contaminate even a single rain-drop anywhere.
Airplanes participating in the spring tests tracked the cloud's various parts for 500 to 600 miles from the explosion site. Thereafter more than 100 weather bureau stations, plus AEC observers at various major installations across the country, watched its invisible progress instrumentally.
Weather conditions are never the same from one day to another. Usually a Nevada cloud winds up crossing the country from west to east in a day or wto. If it runs into a rainy belt, some of its radioactive particles will be precipitated.
That explains occasional reports during test series of radioactive rain in Chicago or radioactive hail
Washington — (U.P.) — President Eisenhower didn't let a slight cold keep him from conferring with a group of Republican women leaders at a breakfast today.
The President left the White House and attended the breakfast meeting at the Sulgrave club, but otherwise he intended to take things easy today.
White House Press Secretary James C. Hagerty said Mr. Eisenhower curtialized his activities "as a protective measure" because his physician, Dr. Howard McSnyder detected "slight symptoms of a cold."
He planned to keep an appointment with President Henry G. Ritter III of the National Association of Manufacturers, but cancelled his scheduled morning news conference.
Mr. Hagerty also disclosed that the President went to Walter Reed General Hospital yesterday afternoon for a 15-minute heat treatment of bursitis in the right shoulder.
The President spent most of yesterday in his White House residential quarters where Mrs. Eisenhower already was confined with the flu, She has been ill since Sunday but has improved.
The President cancelled his morning conference with Republican congressional leaders yesterday but showed up at his office three hours later for a brief period of work. He also kept a lunch date with Elder statesman Bernard M. Baruch but did not return to his office in the afternoon.
Las Vegas —(U.P.)— Actress Betty Hutton and Alan Livingston, a recording company executive, left for Hollywood today after getting married in a quiet ceremony last night. The marriage was made possible when Livingston flew to Acapulco, Mexico and obtained a Mexican "quickie" divorce from his wife, Elaine.
Bettv Hutton Is Married
in Washington, D.C., or fogged films at Rochester, N.Y. In all such cases the radioactivity level is far below amounts considered harmful to human beings.
No Stability in Soviet Say Intelligence Men
Washington—(U.P.)—A month of painstaking study has led American Intelligence officials to conclude there is no stability of leadership in the Soviet Union, nor is there likely to be any for some time.
The American observers also believe the abrupt fall of Georgi Malenkov has not brought about a basic change in Soviet Foreign policy.
U. S. experts on Russia expect tougher talk to come out of Moscow for a while. But they see no reason to believe that policy decisions will be based on other than the assumptions and objectives of the Malenkov regime.
Officials are reasonably sure he did not quit voluntarily. They believe he was pushed out by a group that included Nikita Khrushchev, Nicolai Bulginan (now premier) and probably several more ranking officials banded together in a temporary cabal. But, they say, they can only speculate on what brought the conspiracy into being and whether one man—Khrushchev, possibly—really dominates it.
It is strange that Khrushchev
himself has survived, and even profited from, a number of embarrassments which, in similar cases of other men, have resulted in death or disgrace.
Checking Account System Offered
It was he—not Malenkov—who was most closely identified in public with the 1953-54 farm programs which the ousted premier confessed to be failures
Improved banking service is now being offered by the Douglas County State Bank. The improvement, called "Thrift-Cheek," is a simplified, low-cost, no-minimum balance checking account plan.
The new plan will call for no fixed balance requirements and a person may open an account with any amount. The cost of the service is covered by a charge of $7\frac{1}{2}$ cents per check.
Khrushchev is now trumpeting a new panacea—a vast expansion of corn production to solve the Soviet's serious livestock shortage. U.S. agronomists expect the program will fall short of expectations because the lands to be planted in corn seem to be too cold and dry to support the crop.
Yet no responsible authority here is willing to predict for Khrushchev a short career. Things are not that simple in Moscow.
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