(Iowa City, Iowa), 1962-01-06
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.... - . , . -- evec xc ange uses" ' Army Cuts . SEC Report Cites .. Draft More oj o wan 'Lax Management' Serving the State University of Iowa and the People of Iowa City WASIII eTO (AP) - TlJo Am rican Stock Exchange was Than Half aCCllS d by federal investigators Friday of permitting "manifold WASHINGTON (UPI) - The Established in 1868 Associated Press Leased Wire and Wirephoto United Press·International Leased Wires Saturday. January 6. 1962, Iowa City, Iowa and prolonged abuses" of laws and mles designed to protect the Army slashed the draft rate by investing public. more than half Friday and said the The Securities and EX4 step would not prevent the forma tion of two new combat divisions change Commission (SEC) ordered by President Kennedy capping a seven· month investiga earlier this week. Most of Blizzard Passes South of 10wa ·City tion of the nalion's second largest stock exchange, issued a 127-page The new rate calls for the in· report which contended the ex duction o[ 8,000 draftees in Feb change has been dominated by "f"'".".' ....... ~ a ruary and 6,000 in March, com· High Winds [our·man oligarchy. pared to 15,000 this month and 25, It said lhe dominant group )las OlIO during the start of the Berl in Crowd Engulfs Nehru included Joseph F. Reilly. who (risis buildup last September. Expected currenUy heads the exchanee a. "The Ifrength objective of the pl'esident pro tern. Army including provisions for R.illy was named te that post menn/ng the two new Army d/ During' Party Session following the forced resillnation .lIlons hIS n_ been rea(hed," Here Today as pr.sident of E!dward T. Mc. PATNA, India lA') - Many thou resultant stampede a tribute to Cormick. McCormick quit Deo. 11\ announcement Slid. It added Iowa City Friday night was on sands of Indians stormed into a Nehru's popularity. 11 aft.r the tlIch.n.. dlrecten tINt there has been a 20 per cent the edge of a blizzard-size snow session of India's ruling Congress Nehru pleaded for order, to no I.arned he h.d acc.pted a $5.0e0 '"cr.... In enlistments since the storm which blanketed much o( party Friday and engaged in an up avail. Then he tried to jump down favor from • men subsequently Ifen of the buildup. the Midwest . and had thrcatened roarious melee that engulfed Prime from the safety of the dais into convlcttd on swindling chert... As of last Nov. 30, the Army the city with 6 to 10 inches of Minister Nehru. N e h r u himself the unruly crowd, but was re Named Dlong with Reilly as the had 1,062,582 men including nearly snow. struck a few blows before leaving strained by his security men who domina ling figures in lhe exchange 119,000 reservists and National The main impact of the storm in a hufL worry as much about protecting werc Charles J . Bock let, a special Guardsmen called to active duty fell on an area southwest o[ Iowa The disorder broke out duri ng Nehru {rom his admirers as Crom ist and vice chairman of the Board last lall. Its strength objective was City for about 100 miles. the convention's afternoon session. his enemies. of Governors; James R. Dyer, \\\tll \,111\1 ,000 men. Nehru had assert· chairman of the Committee on Fin Weather Bureau officials said Nehru struck out at those hold· new authorized strength of ed in the morning ance ; and John J . Mann, chairman The Iowa City would probably get in inll him. but was finally p.cified that 0 n e reason of the Committee on Floor Tran the Army designed t~ maintain 16 termiltent snows early today, but by his daught.r, Mrs. Indrla India seized Port· sactions. combat divisions during the yem' not more than 2~ inches was ex Gandhi, and his sist'f, Mrs. Vi· uguese Goa was The SEC report said that over beginnjng July 1 is scheduled to be pected. jayalakshml Pandlt. Nehru th.n lo maintain the pasl 10 years these four mea substantially lower, probably 960, Winds of 20 to 30 miles an hour lett the pavilion In • huff. It was "have held the key positions in the neutrality. For ceo men, or approximately what are ellpect.d to sweep Iowa City the first tim. In the 67·year his· govel'nment of the exchange in ro the Army will have aftel' the re today, with skies ellpected to first time tory of the Conllr.ss Party that a tation and have thus been able to .. he claimed servists and guardsmen are re clear by late morning Dr euly conYention .es.ion W15 ebenden maintain continuous and effective India's forcible turned to civilian life this year. afternoon. ed. contro\." cupation of Goa lut the reduc.d Army at '60, H i g h temperatures today will Several hours afler the stam A broed sampling of .lIchange tie would Ifill have 15,000 more was partly to pre· members - .nd even the SEC range from 15 to 20 degrees. vent its becoming NEHRU pede began the area looked like ..wl.rs than were scheduled at a battlefield and dust hung in the Itself - cam. in for sharp crltl· The snow activity is expected to a base for NATO, o[ which Portu the Ifart of last year to main. air. Twenty {our persons were hos cism in what we. perhaps the t.1n a IIround force of 14 combat leave thc state entirely by tonight. gal is a member. most ellplosive r.port .ver Issutdi N.hru brushed aside British pitalized, officials said, and 12 ar divisions. In other sections of the coun by the 27·year-old commission. and American criticism of In· rested, including a man with a The draft calls after last Sep try, the ballooning winter storm At a news conference, Milton dia's Go. action and asserted dagger. tember fell to 20,000 each for Oct· blocked highways and rip p e d H. Cohen, director of the probe, India's "policy of peace will con· In a one·hour speech at the ober and November, and to 16,000 down power lines in the Texas indicated the SEC will take action tinue." But peace was shortlived morning session. NehrD noted that Panhandle. stalled mort than 400 against some of those cited as res lor December. The new calls will In the open-sided convention pa American and British newspapers bring to 2,725,950 men the total in cars in Oklahoma and shut down ponsible for alleged abuses. vilion at this city on the Ganlles have criticized his actlon in Goa. scores of schools in Kansas and There is "certainly some posst ductions since the draft was re River 290 miles northwest of Cal Missouri. One reason India acted in Goa bility of action," Cohen said, sumed in 1950. cutta. The new combat division - the was that it might become a for against Gilligan, Will &. Co., whose The storm dumped a half foot of Thousands of uninvited stormed eign military base. especially since 1st Armored at Ft. Hood, Tex., and activities occupied many pages of snow across sections of Texas, into the afternoon session, many Portugal was a member of the the 5th Infantry at Ft. Carson, the report. Oklahoma and Kansas, with wind to get a look at the prime min North Atlantic Treaty Organiza· Colo. - will contain a total o[ 31,- The report noted that some or aU gusts up to 73 miles an hour in the ister. One Indian official called the tion, Nehru said. 700 men, of whom more than 10,000 Texas Panhandle. the questioned activities were "not already are in units. unique" to Gilligan. Will &. Co .• b~ Another storm turned Michigan Cohen declined to speculate "Whe The Army pointed out that even highways intQ.JLJll.Qtorist's night· alter the reduction, the draft calls ther the probe to date would re mare, piled a new 6·inch snowfall Indonesia Tells Holland sult in a whole series of SEC ac will be bigber than the average on northern Wisconsin and dragged for the year ended last July 1. The tions. temperatures down to 19 below There have been many criminal fiscal 1961 average was approxi zero at Bemidji, Minn., and 17 To Surrender 'New Guinea violations in the activities studied. mately 5,000 a month. below at Grand Forks, N. Dak. JAKARTA, Indonesia (UPJ) - which would coordinate all mili- Cohen said, but he added h~ had In Crestvi.w, Fla., a tornedo The Indonesian air force Friday tary operations if - and when - no responsibility for such follow roarinll in ahead of a cold front, New Red Policy banned all flights over eastern the order to " liberate" West Irian ups under the terms of his investi left a baby crushed to death and gation. is given. I D'esigned To Split at I.ast 30 other person. injured. most Indonesia and a government In a letter transmitting copl.. More than 300 homes were dam- spokesman warned The Nether Dr. J. G. De Beus, the Dutch of the report to officials of the aged and 50 house trailers destroy lands to negotiate the surrender ambassador to Australia, said in Am.rican Stock Ellehange, Melbourne that the Dutch forces ~.S., W. Germany ed by the twister which gouged out of West Irian (Dutch New Guinea) known, to Wall Streeters IS the a path three miles long through will fight any Indonesian invasion Cadet Colonel Finalists Amell, the SEC said: "It will be WASHINGTON <UPJ) - The So· or face "total capitulation." of New Guinea.