9, 1963 THE MICHIGAN DAILY PAGE 9, 1963 THE MICHIGAN DAILY PAGE .ennedy Doubts Ban Passage, ears Further Atomic Testing DOMINICAN DISPUTE: Haiti Seeks UN Action To Halt Battle Threats By The Associated Press UNITED NATIONS-Haiti called on the United Nations Security Council yesterday to halt what it called "repeated threats of aggres- sion" by the Dominican Republic. The Dominican Republic quickly denied the charges and proposed that the Dominican-Haitian dispute be left in the hands of the Or- ganization of American States. Meanwhile, in Washington, the OAS decided by a vote of 18-0 yesterday to send its special committee back to Haiti and the Domini- can Republic to work for a settle- ANN ARBOR'S GOLF HEADQUARTERS CLUBS * BALLS . SH IRTS . AC BAGS . SHOES t CESSORI ES Hayes Views Stock Trends By EDWARD HERSTEIN "I don't see something like the 1962 drop in stock prices happen- ing again," Prof. Douglas A. Hayes of the business administration school said yesterday. Explaining that the New York Stock Exchange is in a "much more healthy situation" than it was in December, 1961, Prof. Hayes outlined the causes of the market's sharp drop a year ago and its spectacular rise back to near-rec- ord highs this spring. Prof. Hayes noted that, although the market indices show that the market is near the record highs set in December, 1961, "the mar- ket averages look better than the market." This is because "the rise has been concentrated in blue chip stocks," he said. "The stocks that are the most speculative haven't risen (see box)." Since market averages are based largely on the blue chips, the total value of stocks today is considerably lower than it was then, although the aver- ages show little difference. Prof. Hayes said that there was "no real reason" for the market to have dropped as it did in the. spring of 1962. He referred to claims that the drop was due to President John F. Kennedy's pre- vention of the proposed steel price increase as "malarky." However, there were many small-time speculators in the mar- ket that spring, he said, and "the small - time speculator p a n i c s quickly. This is why the market, especially the 'glamor stocks,' fell so rapidly." Institutional Buying The healthier state that the market is in now is due to insti-1 tutional buying of blue chip stocks, he added. Price of Selected Stocks on the New York Stock Exchange Stock Dec.1961 May 1963 SPECULATIVE ISSUES Brunswick IBM Polaroid Zenith 53',' 58l1Y2 216/4 75 p BLUE CHIP STOCKS DuPont 239% General Motors 561 National Dairy 73s Standard Oil 51 15Y 460%/ 123% 571f 2514 71',g 66 65Y2 U ; TOMORROW, SABBATH SERVICES, at 7:30 P.M Co-sponsored by: Sigma Delta Tau Sorority and Alpha Epsilon Pi Fraternity r Zwerdling-Cohn Chapel 1429 Hill Street B'NAI B'RITH HILLEL FOUNDATION ONEG SHABBAT follows the Service TV RENTALS 21" TABLE MODELS $100 per month All-sets guaranteed Free installation and service NEJAC NO 8-6007 With investment firms and in- stitutions doing most of the buying, while the individual speculator stays out of the market, it is in a "much better context" than it was in 1961, Prof. Hayes said. However, he felt that "the mar- ket is now much closer to its up- per limit than its lower limit. Stocks are pretty 'full-valued' at present." Goldberg Hits' New Proposals CHICAGO (M)-Efforts to re- duce some of the powers of the United States Supreme Court by action of state legislatures, says Justice Arthur J. Goldberg, are "ill advised and not well consid- ered." Goldberg, named to the Supreme Court last year by President John F. Kennedy, told a news confer- ence yesterday three proposals are "making the round" in various states. He said one seeks a constitu- tional amendment to reverse the high court's ruling a year ago holding that citizens dissatisfied with the reapportionment of their legislative districts can sue for re- lief in federal court. Goldberg said that "any such action would make the United1 States Constitution quite different from that intended by the found- ing fathers." GET A FREE ACCESSORY Buy a New or Used Car FOR LESS see RON GRAHAM U. of M. '61 HERB ESTES FORD 505 EAST HURON 662-3261 Conference Covers Laos, Middle East To Support Security Of Israel, Neighbors WASHINGTON JP) - President John F. Kennedy said yesterday that failure to ban nuclear shots -and he is not at all hopeful of an agreement to ban them-would lead to more tests and "a great disaster for the interests of all concerned." Conditions in the Middle East came up early in the news con- ference. Kennedy said he does not believe recent developments have changed the balance of military power there. Support for Israel He said the United States sup- ports "the security of both Israel and her neighbors." In the event of direct or indirect aggression, the policy of the United States has been and will be to back ap- propriate measures in the United Nations and to "adopt other cours- es of action on our own to prevent or to put a stop to such aggres- sion." On the subject of the current Haitian crisis, Kennedy declined to say whether the Organization of American States should apply diplomatic or economic sanctions against the Haitian Francois Du- valier regime. He suggested wait- ing to see what an OAS peace- keeping mission accomplishes in the next few days. Soothing Success And there were signs that the President was succeeding in sooth- ing unrest in the Pentagon over his decision to drop Adm. George W. Anderson as chief of naval opera- tions. He was gratified, he said, that Anderson has agreed to ac- cept another unspecified "position of high: responsibility" in federal service. Asked why we have committed ourselves militarily in Viet Nam but not Laos, Kennedy said it was because the two situations are dif- ferent. He said we have. had a commitment for years on the in- tegrity of Viet Nam. He said hey hoped Laos could be kept neutral and that maybe it could not. He said the effort was to adopt the best strategy in each particular case and wait to see what happens in Southeast Asia. Kennedy was asked the objec- tives of the meeting he is to have at Hyannis Port, Mass., with Canadian Prime Minister Lester Pearson this weekend. The Pres- ident said the two countries have many problems in common and that he and Pearson plan to deal with them all. ment. Since they are the countries in- volved, Haiti and the Dominican Republic did not take part in the vote, but the United States and the rest of Latin America were unani- mous. The committee, which in the past had only power to investigate the situation, will now perform; "whatever service is necessary" for the two parties to the conflict to find a quick solution. In related happenings, tension between the two countries prompt- ed the United States government, to call for immediate evacuation of families of American service- men and diplomatic officials in Haiti by air, as the United States, Navy put on an apparent show of strength by sending ships and Marines into Gonave Bay, at Port au Prince. The converted aircraft carrier Boxer led a squadron of Navy ships and 2000 Marines to the very fringes of Haitian waters while two planes airlifted 178 American wives and children from the island of Hispaniola. Thayer Expects Special Session Of Legislature By MICHAEL HYMAN The Detroit School Board of Education has asked Gov. George Romney to call a special session of the Legislature to alleviate the severe financial straits in which the Detroit schools found them- selves after the spring elections. Though the probable result of such a session would be a special fall election in Detroit to recon- sider the new school levies, Sen. Stanley G. Thayer (R-Ann Ar- bor) stressed that the levies were "defeated by a large margin" in April and thus chances for the taxes' passage this fall would not be good. However, Thayer noted, since the taxes alone would be on the bal- lot, the issue would be more publi- cized, possibly attracting more supporters and emphasizing the seriousness of the financial crisis confronting the schools. State law, Thayer explained, re- quires that Detroit school bond and millage measures be voted on in general elections. A special ses- sion of the Legislature would be necessary to alter the existing state laws prohibiting a special election. further real property taxes." Thayer termed the April 1 de- feat of school taxes as an expres- sion of the "strong feeling against BAG BOY CARTS NO SHAG DRIVING NETS STEIN & GOETZ Sporting Goods 315 So. Main St.---downtown Grou pViews Loan Plans WASHINGTON - The House Education subcommittee is con- sidering Administration proposals for enlargement of the student loan program under the National Defense Education Act. Francis Keppel, commissioner of the Office of Education, present- ed proposals to the subcommittee for two new types of loans for needy college students. The first would provide federally insured commercial loans to students who do not qualify for government loans. The second type would make funds available to colleges and universities to implement work- study programs for students. Also proposed were fellowship grants for graduate students, training and research in foreign language techniques, institutes for advance study for teachers and the purchase of teaching equip- ment for foreign languages, sci- ence and mathematics. Copyright, 1963, The New York Times 0vff%aI.Pl Delici Hot T Triple ous Hamburgers 15c asty French Fries 12c Thick Shakes.. 20c 2000 W. Stadium Blvd. I World News Roundup *. Who says Oxford cloth has to be heavy ? .I By The Associated Press VIENTIANE - Laotian Deputy Premier Prince Souphanouvong re- jected yesterday a move aimed at breaking the deadlock in peace talks between his pro-Communist Pathet Lao and the neutralists of Premier Prince Souvanna Phouma. The Pathet Lao radio at Khang Khay said Souphanouvong turned down an invitation to attend a meeting of the Laos council of ministers, headed by King Savang Vathana. LANSING-A tentative starting date of May 20 was set yesterday for the recount of the April 1 election adopting a new state con- stitution. The recounting will be done by county boards of can- vassers under supervision of the State Board of Canvassers. BOSTON - The Boston Globe said yesterday it has been told exclusively by Canada's Prime Minister Lester B. Pearson that his country will shortly announce plans to join the Organization of American States. KEEP UP TO DATE with Soviet Technical Literature being exhibited at 99%D% UA I WASHINGTON - The House yesterday passed a $1.2 billion military pay raise bill. It would grant the nation's servicemen their first salary increases in five years. ANDOVER, Mass.--Sen. Barry Goldwater (R-Ariz) has voiced support of the use of federal force in the South when local law, lo- cal officials and the National Guard fail to do the job. NEW YORK-After two weeks of irregularity, the New York Stock Exchange rallied vigorously yes- terday, bringing the averages close to their 1963 peaks. Closing Dow- Jones averages showed 30 indus- trials up 5.99, 20 rails up 0.89, 15 utilities down 9.25 and 65 other stocks down 1.39. M s G ,QUw 1, 6V M OS OAP .; a , . . ' ' f 5 f, . , U - 4 When warm weather comes, should men of tradition aban. don Oxford cloth in their shirts? Not so, says Arrow, offering the Gordon Dover Club Batiste Oxford button- Am.u , h41a.t thennlc, the Placement of buttons as- sures a soft, subtle collar roll. Back collar button and pleat. "Sanforized" labeled. In a wide range of colors, plus white. $5 t , A I I I