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University Daily Kansan Thursday, March 3.1955
Congressional Roundup-
Boom in Stock Market Is Healthy, Official Says
Washington—(U.P.)The president of the New York Stock Exchange told Senate investigators today that the current stock market boom is a healthy one. He said the 1929 crash isn't likely to be repeated.
Official Bulletin
TODAY
Wesley Foundation Lenten medita-
tions center
"What of God in today's World."
**Museum of Art concert, noon and 4**
**Piano Violin Concerto in D minor**
and Sonatas.
University Women's club open house. 2:4 and 8-10 p.m. Museum of Art club
The Poetry Hour, 4 p.m. Music room
Student Union, Rabindranath Tagore
Reader: John E. Hankins, with recordings
by Amita Chakravarty.
Lecture, 4 p.m. Strong auditorium Prof. David Riesman, University of Chicago: "Study of National Character." CCUN executive meeting, 4 p.m. Stu-
CCUN executive meeting, 4 p.m. Student Union.
5 p.m. Ballroom.
Red Peppers. 5 p.m. Ballroom. Student Union. Attendance required.
Der Deutsche Verein, 5 p.m., room
502 Fraser. Kaffeeklatsch, records of
The Merry Widow" in German. Disc-
ciple Barbara Becker. Everyone
welcomes her.
Gamma Alpha Chi, 5 p.m., room 207
Journalism. Election of officers.
Young Republicans, 7 p.m., Jayhawk room, Student Union. Lt. Gov. McCushn "Problems Facing the New Adoption." Refreshments, Public Invited.
Chemistry club, 7:30 p.m., room 232
Movie , *Prospecting for*
*Petroleum*
Girl's Rife Team, third match. 7 p.m.
Military Science building.
AWS House of Representatives. 4 p.m.
Javahawk room. Student Union.
binary Societe auditing*
Union Club choir practice, 7 p.m.
Christian Science organization, 7 p.m.
Department of Students, faculty and
Friends invited
Sophomore counselors meeting at 7:15 p.m. is cancelled.
Engineerettes bridge group. 8 p.m.
Card room, Student Union. Bridge and
Court Building.
OT club, 7:30 p.m., Oread room. Student Union.
Studio Theater presents "The Phila-
delaphia Story," 8 p.m. ballroom. Studio
Theater
TOMORROW
Episcopal morning prayer, 6:45 a.m.
Communion, 7 a.m. Danforth
Siegel
*Museum of Art record concert noon*
and 4 p.m. Sieglied idyll; Bruehldjelse's
work; Cinderella, Meyer Lerner;
Lutheran students coffee hour, 3 p.m.
Hawk's Nest, Student Union.
UN Model General Assembly, 1-5 p.m.
Green hall theater. Representation of China and Formosa. Cease Frie. 6-7:30 p.m.
banquet, banquet. Student Union
Hillel services. 7:30 p.m. Jewish center, 1499 Tennessee. re-commensurat
Use Kansan Classified Ads.
Exchange President G. Keith Funston was the lead-off witness in what was billed as a "friendly" inquiry by the Senate Banking committee to determine whether the market is on a boom and bust cycle.
Mr. Funston said the reason for the recent rise in stock prices has been "an increasing demand for stocks acting upon a restricted supply." He said the demand for stocks has risen because the public feels business is good and the future bright.
Other reasons for the growing demand, he said, have been lower interest rates and easier credit, tax reductions, the end of the Korean and Indochina wars, and heavier buying by pension funds, foundations and insurance companies.
Mr. Funston conceded some similarities exist between the boom market and conditions before the 1929 crash. But he said there are some big differences.
He said the volume of stock transactions now is only one-fifth as large as in 1929, margins are much higher, and national production and income are much greater.
Taxes—Senate leaders of both parties said indications are that the Senate will reject the House-approved $20-per-person income tax cut by a margin of from 5 to 20 votes. They emphasized, however, the outlook could change if a new tax-cut formula is devised.
Matusow — Senate investigators plan to question two former friends of Harvey Matusow who said the confessed liar boasted his activities as a government informant on Communism would make him a movie star. The friends, Mr. and Mrs. John J. "Ed" Edmiston, said in affidavits that Mr. Matusow talked of writing his autobiography for the movies and playing the starring role himself. He has since retracted his testimony about Communists.
Haran-The Senate Judiciary committee was called to a closed-door meeting for a showdown vote on the nomination of Federal Judge John Marshall Harlan of New York to be a Supreme Court justice. The committee was expected to approve Judge Harlan, but some of the 15 members predicted a close vote.
Dulles Reaffirms U.S. Policy on Quemoy, Matsu
Taipei, Formosa —(U.P.)— Secretary of State John Foster Dulles warned Communist China today at the opening of his crucial conference with Chiang Kai-Shek not to think they were immune from American attack if they assaulted Quemoy or Matsu islands.
Dulles conferred with Chiang for four hours and then left for Washington after warning the Peiping regime to "practice what they preach" about peace and cease their threats against Formosa.
"It is the ardent hope of the United States that the Chinese Communists will not insist on war as an instrument of its policy," he said.
"The United States and the Republic of China have no alternative but to stand firm."
He made the statement within hours after he and the Nationalist Foreign Minister George Yeh signed the ratification papers putting the U.S.-Nationalist defense treaty formally into effect.
Dulles said President Eisenhower would make the decision what to do if the Communists attack the Nationalists' two main offshore islands.
"Formosa is the area today where the Chinese Communists most actively press their aggressive designs," Dulles said. "They openly threatened an armed attack against an area which the United States is committed to help defend.
"It is not possible at this time to state explicitly how that defense will be conducted.
IT'S TOASTED
Bristol, Conn. — (U.P.) Firemen summoned to a smoke-filled apartment by a neighbor quickly brought the situation under control. They reported, "burned toast."
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Ousted Priest Holds Final, Tearful Mass
men's apparel
Moscow—(U.P)—Father Georges Bissonnette, the American Catholic priest ordered out of the Soviet Union by March 5, burst into unashamed tears today, so broken up he was almost unable to celebrate his last mass in Russia.
841 mass.
The 33-year-old priest of Central Falls, R. I., bade an emotional farewell to his little flock of Roman Catholic faithful in Moscow's diplomatic colony in the midst of his hasty packing to observe the government's expulsion order.
He was called in by police last night and informed he must leave within four days He began packing immediately, and said he probably would leave by train tonight via Leningrad and the border point of Vigor on the Finnish frontier. In Washington American officials said they expected Russia to let another priest replace him, following a pattern they set in 1949.
Some 20 American, French and Mexican Catholic crowded into his apartment-chapel today where he had ministered to Westerners under a special Anglo-Soviet agreement as the only foreign priest in the Soviet Union.
Fr. Bissonnette, a member of the order of the Assumptionist Fathers, who serves Catholic Americans and other foreigners in Moscow, was ordered yesterday to leave the Soviet Union. There was no explanation and at first he could make no comment at all.
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