Evening star. [volume], January 16, 1957, Page A-7, Image 7

About Evening star. [volume] (Washington, D.C.) 1854-1972

Image provided by: Library of Congress, Washington, DC

                
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NEW TEXAS SENATOR ARRIVES—WiIIiam A. Blakley (center), named as
temporary Senator from Texas until a special election can be held, is greeted
at National Airport by the other Texas Senator, Majority Leader Lyndon
Johnson (left). Former Texas Gov. Allan Shivers, who named Blakley to the
Senate, is at right.—AP Photo.
Interim Texas Senator
To Vote With Democrats
By the Associated Press
William A. Blakley, an Eisenhower Democrat who was named
temporary Senator from Texas yesterday, came to Washington
last night and made plain that he will vote with the Democrats.
Earlier the 58-year-old millionaire would not commit himself
on what would happen if occasion arose for the Republicans to
try to reorganize the Senate.
Exactly where Mr. Blakley stood was conjectural since he has
crossed many political lines* in
Texas. Also he was appointed by
outgoing Gov. Shivers, a strong
supporter .of President Eisen
hower. Mr. Blakley succeeds;
Democrat Price Daniel, who was
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inaugurated as Governor of
Texas at noon yesterday.
Mr. Blakley arrived here at
i 10:35 p.m. and was greeted by!
a dozen members of the Texas'
(congressional delegation and
j their wives.
He was accompanied by his
wife and by Mr. Shivers.
His First Public Office
1 Never a public office holder
before, Mr. Blakley said he first
knew that he was to get the
l appointment when Mr. Shivers
i telephoned him Monday.
‘‘l was amazed.” he said. “Os
1 course I accepted, because it Is
' a high honor.”
He reiterated that he does
1 not intend to enter the special
election to choose a Senator to
’ complete the term of Mr. Daniel.
The election must be held with
in the next 60 to 90 days under
Texas law.
Mr. Blakley will take the oath
,of office shortly after the Sen-
I ate next convenes at noon to
[ morrow.
Even by Texas standards. Mr.
I Blakley is an outstanding figure.
Officially he is a lawyer, but
[ that tells only part of the story.
[ As they say in Texas, he's got
[ money stacked up.
For instance, he describes a
j business center he’s currently
[ building as his “pet.” It's listed
[ as a $125 million project,
j His Widespread Interests
He's majority owner in Braniff
i International Airways. And he
has widespread interests in oil.
| insurance, investment companies
: and farms and ranches in Texas,
New Mexico and California.
His 1,200-acre farm near Dal
las is just a good-sized lawn
compared to some of his other
holdings. One is a 165.000-acre
ranch in West Texas. He owns
about 85.000 acres near Santa Fe,
N. Mex.
Mr. Blakley is the legendary,
multi-millionaire Texan except
for one thing: He's no braggart,
or showoff.i
There was a scramble in Texas
i newspapers, including those in
Dallas, for full identification
when his appointment was an
nounced. That's how little he
had publicized himself. No one
even knew his policies.
Born in Miami Station, M 0.,;
he grew up in Oklahoma ranch
country, where his father was in
the cattle business.
After getting a law degree he
went into the banking business
in Oklahoma. He moved to Texas
during the oil boom days more
than 30 years ago and entered
the banking business at Ranger.
A Thorough Texan
I Mr. Blakley has become a thor
ough Texan. His parting words
to reporters yesterday were:
"Adios, you all.”
Today is the thirty-fifth wed
ding anniversary for the Blak
leys. They have no children.
Politically, the new Senator
has crossed just about all the
tangled lines in Texas.
He supported Mr. Eisenhower
but gave $16,000 to the Demo
cratic Party in 1952. He sup
ported both Mr. Shivers, an
Eisenhower Democrat, and the
Governor’s bitterest political foe.
Senate Majority Leader John
son.
!Cairo Orders Alien Firms
Must Be Egyptian-Run i
; CAIRO, Jan. 16 MP>._Presi-,
l dent Nasser’s government has
' ordered all foreign banks, in
l surance companies and trading
firms in Egypt converted to
. Egyptian management and own
; ership.
British and French concerns
i were “Egyptianized” as of today,
, being classed as enemy property.
Other foreign firms were given
five years to convert themselves
to Egyptian Joint stock com
panies.
The series of “Egyptianization
decrees” announced by the Nas
' ser regime stopped just short of
the government's taking over
ownership. But it insured gov-;
(eminent control of foreign
owned concerns through a new
octupus-like “economic organi
zation” which will be given shares
in the firms.
Halts Investment
The decrese affect hundreds of
foreign concerns, including some
1 owned-by Americans. They spell
the end of a middle class Euro
pean community that has pros
pered in Egype for a century as
importers of Western-produced
consumer goods and bankers and
insurers for Egyptian economic
life. I.
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Despite the five-year breathing
spell for citizens of countries
other than Britain and France,
the net effect probably will be to
kill the possibility of any con
siderable United States or West
ern investment in Egypt so long
as the present regime remains in
power.
The new laws also threatened
prospects of co-operation be
tween the United States and the
Nasser regime.
A large share of the foreign
enterprises in Cairo were run by
British and French citizens.
These firms were sequestered by
the Egyptians after the October,
31 British-French attack. Es
timates of the total value of the
British-French businesses range
from $2lO million to S9BO million.
In effect, the new decrees
merely make permanent the ear
lier confiscation so far as the
British and French firms are
concerned.
S2BO Million Frozen
After Col. Nasser nationalized
the Suez Canal last June, Britain
froze more than S2BO million in
Egyptian assets in London.
The assets of local branches
of trading firms consist largely
! of operating capital, offiee equip
ment and whatever goods they
| THE EVENING STAR, Washington, D. C. •
WEDNESDAY. JAM'A BY IS. lust
have on hand in warehouses, i
i The major assets of most such 1
firms are at the headquarters of-!
flees in London, Paris or New
York. The capital assets of most
banks and insurance companies
likewise are held in the Western I
’ financial centers.
The decrees declare that all
agents for foreign firms in Egypt
must be Egyptian-bom citizens
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ior Egyptian joint stock com*
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All shares of the banks and
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A-7