Show V w - : THE SALT LAKE TRIBUNE Wednesday October Banker Favors Corporation To Reconstruct Europe J Sept (trips ATLANTIC CITY N since the war to western Aid Junketers Undecided on Special Session JO UP — A businesslike direction of Europe said peoples- of those naLONDON Sept 30 (UP) — Conaud extended to western Europe tions "with whom we are closely gressmen returning from "look-see- " under the Marshall plan was urged associated in traditions and outtours of stricken Europe are look to us for help in still not wholly convinced that Tuesday by Wlnthrop W Aldrich look - as a means to assure prompt economic reconstruction of that area Upon such an accomplishment be told the 73rd annual convention ©f the American Bankers here "our security as a nation depends in large measure" Aidnch chairman of the Chase National bank New York proposed that the government establish a "United State corporation lor European reconstruction" to A-ss- n order to solve their economic problems and to enable them to withstand constant pressures from outside their own borders tb try the economic planning of a totalitarian police state” The New’ York banker said the corporation he proposed should have reasonably liberal authority to determine type and amount of aid allocated to various areas and congress will have to hold a special session to consider Interim aid for the continent it was learned Tuesday A source close to the Herter committee on aid to Europe said some members believe the admin- istration already has sufficient funds available and European countries still have enough last-ditc- h resources to enable them to should be empowered to extend hold out until the Marshall plan aid in kind as well as in money takes effect probably next spring Insure that American aid be used and to buy goods in the world s However this opinion was by no means unanimous Other comproductively to check inflation- cheapest markets ary pressures in western Europe It should he continued encour- mitteemen who have returned to and encourage’ removal of tr&de age direct investment by Ameri- London agreed with Prea Trurestrictions can firms and corporations in the man that only a special congresNoting urgent need to relieve plants and industrial equipment of sional appropriation can save some food and fuel shortages in west- western Europe parts of western Europe from ern Europe this winter he told the and chaos "In the long run" Aldnch said bankers that "to the extent that “direct private investments will hunger The committee source said the we are generous in our relief ap- make the maximum contribution group as a whole could reach no propriations a favorable atmos- to European recovery and recon- decision until all 18 members have phere win be created for the long-ran- struction with minimum expendi- reassembled after their monthaspects of Secy George C ture accompanied as they are by long tour of Britain France BelMarshall s program" the managerial skill and know- gium Italy Aldrich addressed a general ses- how’ of Greece Germany Norway SweAmerican business” sion of the convention of more To check inflation in the area den Denmark Czechoslovakia and than 4000 bankers who will close he continued governmental budg- Poland The committee created by contheir meeting Wednesday with ets should be balanced with surelection of officers Joseph M plus to be employed in internal gress to assess Europe’s economic Dodge Detroit is expected to be debt reduction thus exerting a plight split up into subcommitelected president ucceedmg C W downward pressure on the pgice tees for visits to various countries Bailey of Clarksville Tenn- Evans leveLThlv-- adoption of necessary after its arrival here late last Woolen of Indianapolis- is slated fiscal policies he said "should be month Some members including for the vice presidency Rep Christian Herter (R Mass) accompanied by a devaluation of chairman of the committee have Aldrich who has made four currencies to realistic levels” already returned The others are expected here by Thursday preparatory to Bailing for the U S Saturday aboard the Queen Mary No formal meetings of the full committee are scheduled prior to SPRING FILL MATTRESS the sailing The congressmen plan $2950 to meet aboard ship to sort out CREDIT FOR OLD MATTRESS $1000 their findings ge Holland-Luxembour- g - - s S'ALE! SALES NET PRICE $1950 PLATFORM ROCKER $2450 $6950 $6950 BEDR003I SET LIVING ROOM SET CE OR MADE TO ORDER AT REGULAR PRICE HOLLYWOOD BEDS HEAD BOARDS A?R FOAM FILLED SPRING MATTRESSES SPRING BEDS AND COMPLETE HOME FURNISHINGS OVERMAN'S MATTRESS Pick-u- p I FURNITURE 00 27S3 SOUTH STATE STREET and delivery service In the following counties: Salt Lake Utah Tooele Wasatch Carbon and Sanpete ATTRACTIVE FRANCHISE available on a new exclailve patented electronic Intercommunication lyitem This is a product for which every business! office and Industry are definite prospects The want must be capable of organizing and directing a high caliber sales staff Ability to sell himself and his product to top executives of paramount importance $2500 investment In starting Please toclf inventory required give telephone number In your Trlb Tele reply Bo No -- CREDITORS SEE SLUMP IN 1918 Five-Cen- WASHINGTON Sept 30 (NYT) establishment of 5c do- mestic air mail has resulted in a d in the volume gam of now flown as ' contrasted wiHi a Y year ago rate'be-cam- e one-thir- 00 All-Tim- all-tim- waste Uncertainty over what solution the government wdll find to pressing food needs of western Europe was the predominating factor in the grain slump as wheat skidded as much as 4 He at Chicago after a strong opening After gaming as much as 6 He in early trading wheat closed at S2 84U to $283 a bushel in December contracts Com dropped l8ic to 3ic with a $2 31 U to $2 30 U close Oats declined 27c to 3Vc December food - 'i“ ' I i’TW- 4 jZ - &' r --f- WASHINGTON Sept 30 Two aircraft designers said Tuesto day it will take Uf to 15 years 4000 of missile a guided produce miles range but that robot warfare between continents is definitely possible The cost of evolving such a weapon was estimated from $200000-00- 0 to $300000000 The figures w'ere given the president’s air policy commission by John K president of Northrop Northrop Inc Hawthorne Cal Aircraft and A E Lombard engineering consultant for Consolidated Vultee Aircraft Corp San Diego Cal The methods and equipment — s 000000 to develop the first five (This resembled the German V- -l except for range) 2 Supersonic (1400 mph) p lotless aircraft requiring six year and $30000000 to develop $6 missiles capable needed d warhead of carrying a at 600 miles an hour for 4000 miles "are already w’ell known in this country" Northrop said in a statement but added that there are unsolved problems Lombard said the manufacture of such missiles will require facilities similar to those used for aircraft building However new type plants probably will be needed to supply the fuel he said e guided Northrop said missiles fall into three categories: 4 Subsonic (600 mph) pilotless aircraft requiring three years and 5000-poun- man-carryi- rocketSupersonic requiring 10 years and up to $250000000 for development (This resembles the German V-- 2 except that the range would be many times means greater) below the speed (Subsonic of sound and supersonic above that speed which normally if regarded as 763 mph) 3 (3500 w" The Same Quality Service long-rang- of S100far Meath GLEN BROS MUSIC CO 1 SALT LAKE v yyv From EST Cash and Carry At Reduced FTices! 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Latin-Amenca- Gram futures prices reversed Monday’s upward surge and 'lost ground Tuesday but beef steers e record prices at brought two markets while Pres Harry S Truman and his advisors planned a nation-wid- e campaign against Sl13 Noting that the 5c air effective a year ago Wednesday Oct 1 Postmaster Gen Robert E Hannegan Tuesday announced that since that time lbs had been dispatched or an average of 6500000 lbs monthly The figure he stated over the meant a gain of 33 4888195 lbs flown in September 1946 the last month under the 8c wartime rate Heavy slashes in air mail rates to foreign countries also have been gratifying Rates previously varying from 15 to 70c per halfounce now range from 10c to n countries to a maximum of 25c to Asia and the Middle East Canada and Mexico enjoy the 5c domestic rate for Under the new lower rates the first six months of 1947 the average monthly mail load overseas has been 354525 lbs or 75 above tie 2024 38 lbs flown over-se- a in October 1946 under the former tariffs - Grains Decline As Beef Hits e High By ASSOCIATED PRESS t 'Warfare Possible By Robots Now to make P— — The for other industries High prices buyer resistance excessive inventories too little capital and labor unrest were principal reasons named in the poll as making a recession practically “inevitable" - Designers Say U S Rate t ’TEsfrse 1947 Ups Air Mail 33 for 1947 NEW YORK Sept 30 UP) — A business recession beginning in the second quarter of 1948 of the 3500 is predicted by 80 members of the New York Credit Men's Assn according to the results of a poll released by the association Tuesday inSteel and the construction dustry were excepted by the credit men who foresee a boom in the midst of a slump period closing at 1 H wiW'‘eyiir tollSH Washington developments appeared to have little if any effect on coftsumer demand especially for wheat as livestock prices continued to advance A new all-tirecord steer price of $38 a cwt was set at Omaha and a $32 sale of steers at Louisville established a new mark there The 1947 peak of $35 90 for choice steers set Monday at Chicago was matched Tuesday Hogs were 25c to 50c higher in the Chicago stockyards with a top of $29 and lambs were steady to 50c up the best selling Will now be able to make their lifetime dreams come true! Schubach's are offering tomorrow at $23 Wholesale butter prices advanced He at New York but were unchanged to Uc a lb lower in Chicago The New York price for grade AA butter was 79c The AA grade was unlisted st Chicago but grade A brought 75 5c a lb Fresh eggs were mostly unchanged in an irregular market No 1 extras selling for 61c to 62c a doz at Chicago Most Wanted Patterns in The Six wraiin if Efiuull laUiLw RUSSIA-TOU- R y LMJ’f'f erred bx flatteringly tuxvriovsf YfKat mort gteef a hernfmee 8® Hoc It in f orsfrrvarm a - Ad a t 4 J new sweeping bock 9 Sopger length to meet sew I- tl wasn't nowgH — BcfcSasr II -J wffH yom tnk (or m o war? ff i yotr and knrwioes woolen Continued from Page One guarantee individual human freedoms” Bridges’ statement said: "This refusal of Russia to grant permission to an official delegation from the United States senate to visit even the American embassy in that country once again shows Russia in her true light "They want no disclosure of true facts to emanate from behind Uieir iron curtain It might be interesting to watch and see what Americans they do admit in the future It won’t be much of a compliment to those Americana” Bridges called for a reconsideration of United States policy in admitting Russians to this country saying: "I think this (refusal) poses tne important question of just how much longer we are going to permit indiscriminate admission of Soviet subjects and sympathizers to enter the United States I believe that we must start rigidly scrutinizing all Russian applications from now on” 41 ember 3 of the appropriations cofimittee who will leave next week on a European tour in addition to Bridges and Brooks are Sens Ferguson (R Mich) Wherry (R Neb) Cordon (R Ore) Saltonstall (R Mass) Young (R N D) Knowland (R Here's one dream you won't have to postpone because of rising costs — the dream of starting your service in lovely International Sterling! 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