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About The news-review. (Roseburg, Or.) 1948-1994 | View Entire Issue (March 11, 1960)
Public Doesn't Understand Workings Of Stock Index. By SAM DAWSON Business News Aneiyit i were dropped last year and four AP Business News Anelyit oliiio-St substituted. index number was raised UKR- iAi-.t-wan street 2l) m 19i6 and t0 3U jn ,928. pros and amateur index-watehei'SlS,mple arithmetic had to be giv across the country-many owning ;en up. There have been so manv no stock at all shivered Tuesday slock spiUSi stock dividends, and when the Dow-Jones industrial substitutions of companies that index dipped below 600. just aMing the 30 up and dividing Yet its a good bet that few of Dy 30 couldn't give a true picture the amateurs could name the 3U 0j tile percentage of change, slocks in the index or explain how b; a,o m.H ikjnnw the closing index figure of 599.10 :fjrst started dividing the 30 stocks by 13 instead ot JO. ims sent was arrived at, especially since the actual dollar average of the 3U stocks that day was only $73 03. A few may even think that 509.10 is the dollar average of the 30 stocks rather than a percentage of the index level that existed dur ing a base period. But stock market averages such as Dow-Jones industrial, the Associated Press 60-slock index, and Standard & Poor's 500 slock index are closely followed hy pros, amateurs, and much of the general public Thus newspaper readers noted that the Dow Jones hadn't been below B00 since Feb. 19. 1959. and hy Jan. 4 of this year had reached 685. So the drop below 600 brings wonderment about what's coming next. Market Trends Reflected Indexes usually reflect accu rately the changes trend, which is all the index figure well above the dollar average on any particular day. The divisor has had to be lowered again and again. At the start of I960 the total dollar value of the 30 stocks was divided by 3.83. Dollar Average Differs That is why. when Tuesday's ill dex figure of 599.10 was down 4.92 points from Monday's close, me dollar average of $73.03 was down only SI trom Monday's average of the actual price of one share each of the 30. Why divisors are needed can be seen in what happened to the 15 utilities in the AP index between this Monday and Tuesday. Monday the utility index was 97.3, the divisor was 7.97, and the dollar average $49.54. But Tues day a 3 1 split in one of the utili- HOURS , LABOR REQUIRED TO BUY FARM V FOOD MARKET BASKET O r I ' " i ru u PL ' ties used went into effect. To enm- in market j'pensate for that, the utility divisor they're de- u-ae Imuprpri in 7 Hi TuesHav'c signed to do. They don't show the utility index closed at 97.3 for a trend of individual stocks or par- hoss f tWo tenths of one per cent licular industries. Ulten these arejior the day. going in uie oppusue uuecuoii from the index. The oldest index is the Dow Jones, which started Jan. 2, 1897 with 12 stocks whose average that day was 41, at that time in both percentage points and dollars. The AP -feu-stock average has been compiled since 1935, although for comparison it was carried hack to Jan. 1, 1927. Its range in 1935 was 61.8 to 83.7. It was com piled by simple arithmetic just adding up the stock prices and dividing by 60. Standard 4c Poor's 500 stock in dex started March 1, 1957, but uses the base years 1911-43 to get its percentage comparisons. Dow Jones and AP use market leaders. Standard & Poor's uses about half of the issues listed on the New York Stock Exchange, but the slocks used represent about 90 per cent of the value of all stocks held by investors. Index Lists Changes The present Dow-Jones index and AP s to a much less degree, bears scant resemblance to the original. Only two stocks now in the Dow- Jones index were in the original. and even these were out of it for some time. Three of the original i companies no longer exist. An other is now a division of a pres- enl index occupant. Four stocks , A A . J Judge Asks Advice But Turns It Down FLINT, Mich. (AP) Circuit Judge Louis D. McGregor asked 16-year-old Richard T. Rounde bush: "What would you do if you were the judge in this case?" "Order me to get a job, pay back the mony," the youth replied. "Is that all?" asked the judge. "Put me on probation, not to get in any more trouble," said the boy. Instead the youth was sentenced to prison lor tive to 15 years. He has been involved in 79 bur glaries. He went on a crime spree while facing sentencing for one burglary. 800 600 400 200 1947-49 19SZ 1958 1959 (Est.) LESS WORK. TO BUY ANNUAL FARM BASKET Wage earners had to work about three-fourlhs as many hours to pay for the market basket of farm foods in 1959 as they did in 1947-49. Though dollar cost has risen 11 per cent, wage rates have increased and farmers' prices have declined. Chart is based on annual purchases of farm foods by urban families in 1952; retail cost, marketing spread and farm value are divided by tverage net hourly earnings of manufacturing workers. Data: Agriculture Department's agriculture marketing service. Former Camas Valley Residents Visit At The Home Of Children Fri Mar. li,1960 The Newi-Review, Rojcburg, Ore, 7 Alterations Made In Power Project By MRS. WILLIAM BANKS WASHINGTON ( AP) Lawson. also a former Camas Val- federal Power Commission Former residents of Camas Val- lev resident ley, Mr. and Mrs. Cuy Lawson. Mrs tiuy Lawson was the Cam- were recent guests at the home of as Valley News Review correspon their son and daughter-in-law, Mr. i dent for manv vears. and Mrs. Donald Lawson, of Cam-j Vacation Scheduled as Valley. Spring vacation will be held Mon- The senior Lawsons were en i day throutii Friday at the Camas The this Spring Vacation Scheduled For Glide School Students Spring vacation for Glide stu-, dents will be held Monday through Friday, according to Mrs. Arthur Selby, correspondent. Supt. Donald Fluke has stated that the majority of Glide school teachers will attend the Oregon Education Assn. conference to be held at Portland. Wednesday, Thursday and Friday, Restaurant To Open The Red Barn restaurant and coffee shop will be officially open ed at 5 p.m. Saturday by John Todd, manager and chef. He re cently returned from Squaw Val ley, Calif., where he managed the "Bear Pen" during the Olympic games. Jack Price, Little River district Jurist Upholds Blast Accusation OREGON CITY (AP)-Levi S McDonald, accused of plotting the bombing of trucks in the Portland newspaper strike, has failed in his effort to have the charge dis missed. McDonald is a member of the Stereotypers Union, one of several which is on strike against The Oregonian and Oregon Journal. He is accused of planning the bombing of six trucks here and four in Portland the night of Jan. 31. The charge against him is in jury to property by explosives. His attorneys asked that the in dictment here be dismissed on grounds that the grand jury was biased by newspaper publication of the statements of his accusers. Circuit Judge P. K. Hammond denied the motion and set March 21 as the dale for McDonald to enter his plea. McDonald is under indictment on a similar charge in Multnomah County. route to their home in Ttgard fol lowing a visit in Arizona. While in Camas Valley the Lawsons receiv Valley School Cecil llalterman is recuperating at nis nomo in upper Camas i al Brown Gets Rivals In California Vote iPARTY C I R L Frances Adams is a wife, mother, grandmother and the first Dem ocratic Woman of the Year. The i Democratic National Commit Jtee selected Mrs. Adams of jl'hoenix, Ariz, for the honor iwhieh carries with, it a trip to (Washington. Mrs. Adams 'js Democratic vice chairman of Maricopa County in Arizona and leads the area's year-round political activity. Building Funds Okayed For Corvaliis Hospital PORTLAND (AP)-A grant of $73,358 was approved by the state Board of Health this week for construction at Good Samaritan Hospital at Corvaliis. The money, from federal Hill- Burton Act funds, will be used for a 35-bed addition,. Dr. Carl Holm of Salem, presi dent of the board, said the addi tion was needed because of an ex pected population increase at Cor. vallis. Thousands of persons are moving there because of the new sauu. aircraft warning insiaua' tion. Dental Official Lauds Fluoride PORTLAND ( AP ) Fluoridation of water "has been proved safe, effective and economical," the president of the American Dental Assn. said here. The official. Dr. Paul II. Jes- serich, in discussing the matter, expressed surprise thai Portland which he described as otherwise a progressive city, has not added fluorides to its water supply. Dr. Jesserich. who is dean of the University of Michigan School of Dentistry, said he could "see no valid reason wnicn would pre vent any city from using fluori dation..." He told the Oregon State Dental Assn. convention that fluoridation of water is not adding a foreign substance because all water con tains some fluorides. He said that as a public health matter, it merely amounts to controlling the amount. He pointed to a recent Univer sity of Michigan School of Public Health study of objections to fluoridation and said it showed the objections had no merit. Dr. Jesserich told of a study being made by the American Dental Assn. of prepaid dental insurance and of a pilot program under way in York, Pa., that is being watched carefully by insur ance companies. He said, "It could open the door to insurance coverage for dental care." ranger, Mrs. Price and daughter, Jeanette, left recently on a two weeks vacation at different points in southern California. Mrs. Berlva Pritchard is tempor arily substituting for the late Mrs. Delola Bezemer. She is teaching the third grade of the Glide Ele mentary School. Before moving to Glide, Mrs. Pritchard taught at Deer Creek School in 1957-58. Quinton Hughes temporarily sub stituted as bus driver for the North Umpqua route after Forrest Loseo resigned in January. Supt. Donald Fluke announced that a new bus driver, Jerry Ward, had been as signed to the Dixonville-Buckhorn-Glide route formerly driven by Jim Welch who takes over the North Umpqua route. River Full The North Umpqua river is run ning full, not only from the rain but melting snow frm higher ele vations, according to a report from the Glide Forest Ranger Station. The snow is melting fast from Taft ML, said forester. Chuck Anderson. ed word of the birth of their first ley following release from a Rosc-great-grandchld, a boy, born to; burg hospital, where he had under- .Mr. and Mrs. Gary Lawson m ; gone major surgerv. He is report Portland. Gary is the son of Gall ed to he improving. The Bible Study group of Camas Valley Methodist Church VSCS met recently at the home of Mrs. Guy Moore. The group is studying tne lite ol l.uke. . Mr. and Mrs. Karl Pa'rett have received word of the birth of a grandson, Jack Arnold, born to Mr. and Mrs. Jack Parrett of Sherman Oaks, Calif. The new father is a former resident of Camas Valley. Visiting at the Parrett home over a recent weekend were their son and daughter-in-law. Mr. and Mrs. Donald Parrett, and two children of Empire. Parents Visited Spending the week with her par ents is Mrs. Keith Moore and thiee children of Rice Creek. The Moore family is moving to Coos Ray to reside. Mrs. Moore is the former Virginia Parrett. Mrs. Henrv Cumminqs and daughters of Canhy spent a recent weekend al the home of Mr. and Mrs. Phil Bovd and family of Cam as Valley. The two women are sisters. week was asked hy t ho Eugene Waler 4 Electric Ruard to amend its license for a proposed Carmen Smith hydroelectric project. The board wauls to increase in stalled capacity from 53.500 kilu wSlls to 90.0(H) kilowatts The pro posed amendment to the licen-e granted in January, 1959. also would permit minor relocation of two of Ihe three authorized dams and make the structure of two ot them earth-fill, instead of rock fill. The hoard estimates the changes would increase Ihe col of the project from 319,318,000 to $2-1. 990,000. The site is on the McKenzie and Smith Rivers in I.inu and counties of 'vetern Oregon. Lano ROGER'S TUNE-UP SHOP Opposite Vet't Entrance Juit Off Harvard Ave. 625 W. Wharton St. OR 2-4021 FAST SERVICE ON Automotive Tunt Up Carburetors Generators Rebuilt Brakes Relined Lubricat'oa YOU CAN DEPEND ON USI SACRAMENTO. Calif. (AP) -Gov. Edmund Brown, supposedly secure in his favorite-son role, wound up here with two poten tial challengers in . California's Democratic presidential primary. Neither was of national caliber, however. One was George McLain, Losi Angeles pension promoter. Mc Lain, 58, charged Brown has failed the old folks. The governor denied it. The other was retired Army Brig. Gen. Herbert C. Holdridge, long a tempestous but never im portant figure in the fringes of California politics. For a few hours here this week. Brown had four potential rivals for the state's 81 votes at the Democratic National Conven tion. Sen. Hubert Humphrey of Min nesota quickly repudiated filings by a self-starting state commit tee. Sell. John F. Kennedy of Massachusetts followed with a similar wire. Both had declared previously they were going to stay out of the California primary, in deference to Brown and party harmony, un less one of them violated this non agression pact. Peru Rocked By Quakes LIMA, Peru (AP) Earthquake plagued Arequipa in southern Peru was rocked by three more violent tremors Wednesday night. Early reports said one person died of a heart attack and 20 per sons were injured. I .Mi Westinghouse WATER HEATER $69.95 52-Gallon Quick Recovery 10-Year Protection Policy 622 S. E. Jackson St. WITH $20.00 Cbpco Bonus TRADE-IN OR 3-5521 Theater Crowd Still As Robber Fires Shot LOUISVILLE, Ky (AP)-Ever feel alone in a crowd? Theater manager Emmett Lunsfnrd did when he was robbed of $530 last weekend in front of an unsuspect ing audience watching a movie. Lunsford told police there was no reaction from 300 spectators when a man shoved a pistol in his back a few feet from his office. No one stirred as tho culprit grabbed three money sacks, dashed up the aisle and headed for the front exit. Nor did anyone give any sign of hearing a pistol shot fired into the lobby floor by the gunman as he departed. Royal Family Orders Bridal Gown Designs LONDON (AP) The busiest man in Britain today probably was royal dressmaker Norman hartnell, hard at work on designs for Princess Margaret's wedding dress and those of her brides maids. Hartnell, a long-time favorite with the royal family, was asked to submit six designs for Mar garet's bridal gown and six more for her bridesmaids. The designer said he would have 12 ready. m w can i know THAT I AM A CHILD OF GOD? Sermon Topic-- "IF I HAVE FELLOWSHIP WITH GOD You Are Invited To READ--The Book of First John For The Answer. AND HEAR--A Message On This Subject This Lord's Day at One of The Following Christian Churches of Central Douglas County. Roscburg First Christian Myrtle Creek Christian Doudjlas end Kane 2nd and Hall Sri. Roseburg Westside Christian Winston Christian W. Harvord and Broccoli Gregory St. OTHER SERMONS IN THIS SERIES WILL BE: "If I Keep Hit Commandments" "If I Love The Brethren" "If I Have Hit Spirit" "If I Believe In Hit Son" "If I Share In Hit Life" a 4 k.$S fiancees Fiancees introduce the new be witching ly - bare look. Thu open-shoe miracle is just a leather basket-weave band mogical stay-on sol , , . in o myriad of the new est pastels and black patent, Colors Now Stocked Pink Kid Bone Kid Gold Kid Black Patent o Colors Due To Arrive Soon White Kid Pastel Blue Kid Colors Avai lable Special Order Green Kid Yellow Kid K o SHOES Main Floor T M M -SWING '59 FORD Foirlane '500' . . . Radio, Heater, Ford-o-matic, Power Steering '58 FORD Custom Ranch Wagon Radio, Heater, Ford-o-matic '57 FORD 4-dr. Country Sedan Radio, Heater, Ford-o-matic, Nylon tires '57 FORD Del Rio Ranch Wagon Red and White Vinyl Interior INTO SPRING ES CHEVROLET $2495 $1998 $1788 9-Passenger Wagon . . . 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Street Phone ORchord 2-1441 2 BIG USED CAR LOTS ' Corner of Rota and Oak Phone ORchard 3-6334 cs S
