Show THE OGDEN (UTAH) 4A STANDARD-EXAMINE- D WEDNESDAY EVENING MAY 17 Prayers Are Answered Texas Oklahoma Get g a May cold wave ing weeks of drought threatened the northern Midwest Ministers and laymen took turns with frost and moved in on praying A steady rain began falling at ir' temperatures in the Southnoon In Lampasas there was JS5 east The townspeople of Lampasas of an inch by late last night As Tex and Hobart Okla had or- much as an inch and a half pelted ganized “prayers for rain” and the surrounding county and 275 mass demonstrations of faith that inches swelled the nearby Colorains would come in hopes of end rado River Meanwhile By UNITED PRESS The organized prayers Of drought-stricken- ! Texans and Oklahomans werel answered today crop-bakin- 90-degr- ee f rains The downpours were laced witjb winds and storms which werje blamed for at least six deaths in Texas alone But they seemed like an answer front heaven to dust plagued farmery with Big Union Funds Bring Investment Problems: Some Buy Banks Others Rest Camps Stocks Rains Million-Doll- ar million-dolla- r 1955 WASHINGTON (UP) — Labor unions are having financial worries Their problem is what to do with their wealth Some buy banks Some build housing developments or rest camps A number are building impressive new headquarters Others have loaned money to employers One bought enough stock to get into the Montgomery-War- d proxy fight (on tne winning union’s money is in government month bought one of Washingand municipal bonds About $1- - ton’s most valuable street cor500000 is in first trust mortgages ner lots for about 1 million dolbut this is the constitutional ceil- lars On it are the historic Dewing on those One of the reasons for the con- ey (Adm George Dewey hero of servative investment policies goes Manila Bay) and Taft (William back to depression days For in- Howard Taft U S President and stance in 1925 there were 36 Chief Justice) Houses union-owne- d banks with assets Union officials still say they of 115 million dollars In 1935’ now "hat they are going there were only four left with “on to do with the land Most union assets of 19 million dollars side) real estate is in headquarters Difficult Questions But they still most of it There also are difficult ques- j buildings More than a half dozen put m a tions sock of policy involved in union j new ones are going up or were away f l in cash and govownershiD of corporation stocks j recently completed here ernment bonds Both AFL President George The AFL Electrical Workers a for waiting rainy day Meany and CIO President Walter last January bought control of the How much money is there in Reuther are adamant in their pounion treasuries and how much sitions that unions must stay on American Standard Life Insurin pension and welfare fund re- their own side of the bargaining ance Co here with pension fund ' serves in which they have some table reserves The company has about Reuther recently criticized 12 million stavoice? There are no over-al- l dollars of insurance in Beck when Beck got involved in tistics Estimates of assets in union the Montgomery Ward stock force John L Lewis’ United Mine treasuries range up to two bil- proxy fight When Beck signed union wage contract with Workers Union is believed to conlion dollars and up to three bil- lion when treasuries of union Sewell Avery head of Ward’s Wash-- ' he also pledged to Avery’s sup- - trol the National Bank of locals are included One expert estimates that port the 13600 shares of stock ' lE£ton second largest bank here i with 235 million dollars in deunions have a voice in close to held by the management-unio- n 10 per cent of the 15 billion to trustees of three Teamsters wel- - posits funds 20 billion dollars in pension fund The CIO Auto Workers at the Rei ther said this was a vio- reserves and in nearly half of the edo- - 0h'°- lant of "‘n's He said welfare two billion dollars in Ution of trust" perhaps 4 Motors Inc Y last year offered funds should be used only for welfare fund reserves were which for the benefits from $300000 welfare fund rethey Want Money in Stocks intended When the New York Coliseum’s main exhibition floor still under to serves busiToledo with join Investment companies and conconstruction collapsed Monday one worker Joseph Lombardi 55 sultants a Hand Should Have nessmen in financing a new Ohio have been trying to talk was entombed in concrete police said Fifty-on- e others in the union leaders believes Reuther into obviously their wholesale distributing company putting crew of 1000 were injured none critically This view looking east however that unions should have for Kaiser and so into stocks But far money shows the Christopher Columbus statue (upper center) in ManWillys Autos they have met with little success a hand in the investment of the hattan’s busy Columbus Circle The Teamsters last fall loaned One union leader k remarked: growing reserves of welfare and $500000 Nf or 15 years at 5 per As head of funds the was ever defeated in an pension “Nobody to cent a Kansas City underelection for investing in govern- CIO Auto Workers Union he has ground storage company to ti-- ‘ 218-17- 0 ment bonds But if I invested asked the auto industry this year nance its program expansion stocks for a inion voice in investment Last money in stocks and-th- e same the union loaned year went down I’d have two strikes of the Auto Workers pension 1 million dollars to 6' CHOOSE HOW Plan nov to fix up your patio or garden with these exciting buys iiji outdoor furniture and discover new Summer enjoyment! Check our complete selection and Compare our money-savin- g 1 a ‘“‘V ' ' i ' ' n ( j j I prices! CHAISE LOUNGES Green and In Lovely Red Yellow Durable Covers Filled j Majtress Made of Heavy Metal of the Finest Quality Spring ? I i CANVAS SLING BUTTERFLY t4 House Votes - ular $5950 CHAIRS $ Regular Aluminum Lawn Chairs $795 $95 f a 4 In Loyely Colors Some Lounges as Low as $1995 So Light Child Against Alaska and Hawaii Statehood 4 4 By COMBINED AP and UP 4 There is little chance of reviving legislation to grant statehood 4 to Hawaii and Alaska at this session of Congress said key com- 4 mittee chairmen today after the House yesterday voted 218-17a bill to make the two territories states The measure apparently suffered a death blow when it was sent back to the Interior Committee There was some possibility of splitting the hill and asking the measure as did Mrs Gracie Pfost House to vote on each territory Rep Hamer Budge voted for the bill howseparately hut the outlook was 0 4 against 's I Worker Trapped in Debris i j I N Can Carry! 95 GOOD SELECTION (D-Idah- (R-Idah- CONTOUR TWO STYLES LflWII TABLES CM ADR Rouiid in -- Whit j and Blntk i For Relaxing $ n95 Black IRod Iron dark In rejecting the joint hill House party lines splintered Democrats split almost even with 105 of them voting to return the bill to committee and 107 opposed to the move Republicans divided 113-6in favor of recommitting the hill Utahns Opposed Bill Utah’s Republican representa- Chairman (D-Was- Jackson of a Senate Interior Henry M Subcommittee which held hearings on a similar combined bill said there probably will be no Senate action as a result of the House vote He said the Senate passed a combined bill last year and and probably would not accept 3 William A Dawson Henry Aldous Dixon opposed the separate measures tives L PLANTS Perennial and Annual Panstas - 25 Varieties Petunias Salvia - Marigolds - Snaps Begonias - Dahlias - Others Peppers - Igg Plant - Tomatoes 1 4 ever mmi iHlNGI Phone 8234 InlOAA 318 24th Street Phone 2-50- 14 SHAW'S GREENHOUSE North Ogden SUNDAYS AND EVENINGS Reds Influential? House opponents of the combined bill argued that Communists were influential in Hawaii that Alaskans could not support statehood and that the founding fathers never intended that unattached areas should become states Statehood supporters answered that a promise of statehood was implied when the territories were given incorporated governments and that the United States should show the rest of the world that it favors in territorial areas against me” Most union constitutions prohibit or severely limit the use of union money for anything other than government bonds A recent survey showed that the assets of the national treasuries of 42 large unions were invested approximately 75 per cent in government bonds 10 per cent in cash 10 per cent in real estate or mortgages and only 2 per cent in stocks In Stocks and Bonds Most of this 2 per cent was accounted for by one union the AFL Potters who had 70 per cent of their assets in stocks and corporate bonds The AFL Teamsters Union with 35 million dollars in National Treasury assets is limited to $50000 in stock investment Teamsters President Dave Beck asked his executive council last year to consider raising this limit but was turned down He prob it UP aA? aHy Some executives of the AFL Bricklayers Union with 17 million Dollars in National Treasury assets proposed last year to lift the union constitution ban on stock investments But the union’s finance committee turned down the idea Most of the high-grad- e the Fruehauf fund estimated to total 500 milTrailer Co a truck manufacturer lion dollars now Beck took company stock as colLike most other lateral on the loan pension funds this one is adThe AFL Hatters Cap and ministered by hanks Reuther Workers Union last Millinery wants to invest some of the loaned year $250000 to help a money in housing developments hat company out of its financial and other community facilities troubles in order to save the A local of the AFL Electrical of 1050 union members jobs Workers Union which runs its own pension and welfare funds has invested 12 million dollars Make 3 Million Autos in a 22 million dollar housing deDETROIT (AP) — The nation’ velopment in New York City A 15 million dollar mortgage i“i‘u‘1?irshVo'oUed ou‘ 'K passenger on a housing development in a proximately so far this year That total former New York slum area re- cars is a million units ahead of cently was underwritten with lastnearly volume for the correyear’s funds from treasuries and welThey expect a period sponding fare fund reserves of locals of off after leveling midyear but the AFL Ladies Garment Workto extent as of the the disagree ers Union reduction output Lifted Ban on Investing The ILGWU’s executive board recently lifted a barf on investing in anything except government bf nds to permit investment of up Add Stanachf ) to 10 per cent of welfare and Gt Haartbufo r Tam give repension fund reserves in governmenno mixing— lief No vrster t-insured mortgages Uke anywhere Always carry New York State is trying to Tuns encourage investment of welfare and pension housfund reserves in large-scal- e ing projects runs roa na tummy The AFL Bakers Union last Mr oh lot HOW MUCH ARE Ms trial-by-tas- ta WORTH TO YOU ry perauadad’hlm Old feiinny Brook has tha beat cast Proof ' Witnesa that Sunny Brook amils C W—O— — '? —I J ScsnyBrooK KENTUCKY pj- ! BRAND KENTUCKY STRAIGHT BOURBON - M'ftko-- f KENTUCKYtfNDfD'WWfSKfY ' CONTAINS WHISKEY WHISKEY r CONSULT STANDARD-EXAMINE- f r til nt Whatever they’re worth they’re now available to you far more easily than you may realize Whether you favor a spanking new dwelling or one with some living behind it you get sound value—a lot of home —for your every dollar Yes it takes a smaller share of your r Income to become a these days than ever before! GRAIN NIUTEAl SPIRITS THE X Let your family enjoy the added forts and conveniences of ship home-owne- BLENDED R WANT ADS OTH labor-manageme- d home-owne- FOR BETTER LIVING Jl top-spee- to select from than in many years AND CONVENIENCES eourtr this lawyar’'par$uaTvak!If on many a In fin whiakayi trial-by-Ju- Food Hangover? You have a greater variety of homes EXTRA COMFORTS ia$ d self-governme- IF YOU PAY RENT Tp union-negotiate- OtO SUNNY BKOOK COMPANYtlOUISVIUEiKENTUCKY 'T A com- r- ? Start shopping for better living in the Classified section at once! |