MARKETS
By Unlttd Press International
PORTLAND GRAIN
White wheat 196
Soft , white, H.R. applicable 196.
White dub 196.-
Hard Willi o Ikah ordinary no bid,
Oats no' Uid
Barley 46.50.
'..-. PORTLAND DAIRY ...
Eggs .To retailers: Grade AA
large, 56-58C doz.; A large, 52-55C
doz.i AA medium, 47-48c; A me
dium, 46 47c; A'A smalls, 29 -32c
doz; carton l-3c additional.
Butter TO retailers: AA and
GraqV A' prints; ti6-87c lb.: carton
lc lb, higher;' B prints, 64-B5c.
Cheese (medium cured To re
tailers: A large cheddar single
daisies, 40-51c; S-lb. loaves, 51';
57c; processed American cheese,
5-lb. loaf, 40-43C.
Portland Livestock
; Cattle 250. Fed steers slow,
otherwise trade moderately ac
tive,' couple loads fed steers un
sold early; good and' choice steers
Monday weak at 25 - 20.75; few
standard steers today 22.50-24.50;
utility 18.50-21.50; mixed standard
and good ted' heifers 22-23. "futil
ity cows 16-18; canners and cut
ters mostly 14-15; heavy cutters
to' rS.5d; :Jiglit iahricrs as we'll as
Wasty dairy type 13' 14; utility
bulls 23-24.50.
Calves 75. Tra'de moderately ac
tive; steady. Good' and choice
Vcalcrs 26-28; standard 20-25.
' Hogs 250. Trade moderately ac
tive) steady to' 25 cents lower:
U.p.: No;. 1 and 2 grade butchers
180-235 lbs. mostly 25.00; mixed 1,
2. and 3 grades 24.25-24.75; 240-270
lbs. and' 160-180 lbs.. 23-24.25; sows
scarce, few U.S. 1 and 2 sows 270
350 lbs. 21.50-22.50 ; 350-550 lbs.
18.50-21.,
Sheep 850. Trado' moderately ac
tive, steady tp strong, load most
ly choice 88 lb. No. 1 pelt spring
lambs 21.00; small lot 97 lb. No
2 pelt ,21,25: good spring lambs
19.50-20.50; good and choice feed
es 65-90 lbs., 18-19; cull to good
siaugmcr ewes a.au-.uu.
Observer, La Grande, Ore., Tuesday, Aug. 12, 1958 Page 2
T7 jfesWS.
NtA TcKphdle
NEW STEEL ARCH The final steel sectuon of the Glen Canyon Bridge is dropped
into place, thus completing the arch that will be the nation's highest arid second
longest steel arch bridge. This bridge, 700 feet above the Cbldrado River, Will c6h
nect the states of Arizona and Utah at GlenCanyon.
N&W York Stocks
.NKvTyOIIK (UPM-The stock
market ran into a tight money
roadblock1 lodhy and backed away
from' the new 1958 highs set Mon
day. ,- Interest rate's on short-term
funds, have! been rising recently,
partly reflecting Federal Reserve
action in' reduciiigthc amount of
action in reducing tho amount of
money, available ofl' such, loans.
Leading auto stocks wcro lower,
depressed somewhat by signs lh:it
contract talks in that key industry
may be Hearing . a showdown,
American Motors countered I lie
trend. It added u small fraction,
vi Aircraft j oriel , steel stocks leaned
toward the d, o w ri s i d c.Cnpuci'
stock's sliowed losses runiilus; i)usl
4 ! point ip Kc'nhecolt and Phelps
Dodge )t liieir lows. Chemicals
featured on, the downside, with Du
Poiit, ..Union , Carbide, Dow and
Eastman Iodak alt off morn I ban
d1 ppinl, at their w'orst.
. Sehenley' Industries stluplied
leadci'ship oh the upside. It rose
more thaii1 d' point at its high fol
lowing successful Senate action on
a'.biU to extend the period of tax
free bonding from 9 to 20 years.
Fire'sloiie led' the Jtiios lower.
Leading oils' Were Off fractions for
the most part.
rses
Ruling Against
L Hospital Firm
SALEM UPI)- Tlte Slate Su
preine Court has reversed a
judgment , of $12,217 against the
Oregon City Hospital Company.
The lilahitiff, Alice M. Ander
son, flipped , hi .a' corridor of the
hospital nhtl was injured' while
visiting lict husband She contend
ed thai; the hospital was negligent
in' maintaining a' hazardous con
dition' 6f extreme slickness on the
floor of the corridor.
Howovdr,' the Court' suid tlial
waxing a' floor Is not negligence
and' evidence foiled to show any
llack of due care in the method of
waxing.
The opinion by Justice Gordon
Sloan' reversed Circuit Judge 1
K. Hammond
Earl Sherwood, Jackson county,
won from' the Court the right to
nave the trial court review ms
claim that his constitutional rights
were violated by certain alleged
irregularities in connection with
his waiver of indictment and ar
raignment .and his plea of guilty.
He was , sentenced to prison in
1949 'for 12 years on a plea of
guilty to' thi' crime of assault with
intent to rob.
The Supreme Court, treated his
appeal as a motion to correct the
record.
The, Court sustained the refusal
of the Umatilla County Circuit
CQurt to assert jurisdiction in a
similar proceeding filed by Leon
ard 15. Miller, who complained
that a pre sentence- statement
made by the district attorney con
tained falsq statements. But (lie
Court found that no consitutional
rights were violated in this case.
Imect Pest of all kinds
COCKROACHES
g aX'vbuhach
Cntlfwiila'it.Orant Innoet Powih-r
till cur old Hill I lU'Hi unit Ntiivxl.
j( Drug:, Uf'erry murvn
1 mid IX Blii . 1
John P. Clark
Discharged '
From MATS
Airman First Class John P.
Clark, 5700th Support Squadron
and well-known base athlete has
departed for discharge by MATS.
Airman Clark, a native of La
Grande, where he participated in
basketball; football and track, ex
pects to reenter Eastern Oregon
College.
John holds the blue Mountain
javelin conference record with a
loss of 175 feet. lie alio ran the
880 and mile in high school. Dur
ing his tour in the Canal Zone
ho has become well known and
has played forward position for
Albrook three years running.
Airman Clark received a pre
separalion gift last Saturday from
his wife, Janetle, formerly of
Milton-Freewatcr, when she pre
sented him with a son, John Pet
er, Jr., weighing in at 5 lbs. 0
OZ. , ";
Navy's Arctic Circling
Blimp Enroute Home
WEYMOUTrr Mass. lUPH
The Navy said today its Arctic
penetrating blimp was riding fa
vorable winds homeward after
reaching an ice island only 400 td
500 miles short of the North Pole,
farthest north an airship of its
type has ever flown.
The Navy said the blimp ZPG-2
reached ice island T-3 Saturday
and returned to Ft. Churchill,
Manitoba, half way up Hudson
Bay, Sunday night. After a brief
refueling slop, the craft continued
south and was due at the Naval
Air Station here Tuesday morn
ing. The blimp dropped supplies to
the 45-man scientific team on the
ice island in connection Willi the
International Geophysical Year.
The island lies north of Borden Is
land in the Queen Elizabetli group
in the Arctic Ocean.
The entire trip will cover 9,400
miles. 11 reached 1,000 miles
above the Arctic Circle. The
blimp left here July 27 but bad
weather forced it to put down at
Lak6hurst, N. J., ihch' MM,
Ohio, before tie'a'ding flOrtri.
In 1920, a Zeppelin-type rigitl
dirigible bearing Norwegian ex
plorer Roald Amundsen flew over
the North Pole but the ZPG-2 is
a flexible, "gas bag" type aircraft.
U.S. Navy Blimp Has
Crossed Arctic Circle
WASHINGTON UPI) A Navy
blimp has crossed Ihe Arctic Cir
cle and is now farther north than
any other non-rigid airship in his
tory, the Pentagon announced Friday.
The Navy reported that a lone
oola'r bear witnessed the precedent-setting
entry of the blimp in
to tlie Arctic Circle Thursday
night in the Repulse Bay section
of the Melville Peninsula.
The next stop for the scientific
exploration which is making a
4,600-mile flight to the North Pole
will be Resolute Bay on Corn
wallis Island.
Telegraphy, Aviation Aid De
centrali
Beat the winter rush . .
.vCAv
1 ' HEATING T t,
"-Hi
Show's the time to
convert to gas heat
Those chilly fall days will soon be upon us. And
now, before the winter season begins, is the smart time
to convert to gas heat. .
Because it's the automatic fuel, and so clean, is tho
reason so many of your neighbors are converting to gas
heat every year. "
Now is the time to plan your installation which can
be done at lower cost and more conveniently for your
family before the winter rush begins.
Call us for an estimate or get in touch with
your heating contractor today
OAS Is Ihe cheapest automatic heal
CALIFORNIA-PACIFIC
UTILITIES COMPANY
w
By ELMER C. WALZER
' UPI Financial Editor
NEW YOHK (UPI) Decentrali
zation of industry goes on at an
accelerating rate with the maze
of plants cemented together with
telegraphy and aviation.
Big and medium-sized compan
ies have their far-flung plants and
offices connected in . a growing
number of instances with their
private teletype systems which
keep the central office informed
of all developments and
help maintain a continuity of pol
icy. Busy executives make speedy
trips to this or that plant by air
plane when their presence is need
ed. And the planes in many in
stances are company jjwned and
operated.
The airplae phase of business
is getting to be big business in
itself. It's bigger than scheduled
commercial airlines, and the fu
ture holds the prospect of in
creased growth.
The current "Investor" sees
business flying as the fastest
growing segment of aviation to
day. , . , , ,niy
Business aircraft last year, it
Bank Merger
Plans Are
F6r muldted
LOS ANGELES i Upfi-One . of
the largest bank mergers in the
West was underway today when
the board of directors of the Cal
ifornia Bank gave tentative ap
proval to plans calling for a new
multi-billion dollar institution.
, Firstamerica Corp. of San Fran
cisco proposed to acquire 80 per
cent or more of the California
Bank stock at an exchange rate
of 3',2 shares of capital stock for
each share of California Bank's
stock.
The merger calls for the amal
gamation of a Firstamerica affili
ate, the First Western Bank &
Trust Co., and the California Bank
into a statewide financial combine
to be the surviving institution.
notes, logged 5 million hours. This
was 25 per cent- more than 4
million hours of all scheduled air
lines. The total, the magazine pre
dicted, should soar to near 6 mil
lion hours by 1960 and to at least
10 million hours by 1975.
"By 1965, Investor says, more
than half of all the hours flown
in general aviation will be for
business use,
"The wide range of business
operation currently using aircraft
includes manufacturing, merchan
dising, banking, construction, fi
nance, trasportation, utilities,
mining, oil producton, farming'
and ranching." "
The magazine finds many things
working in favor of business fly
ingcontinued industrial disper
sion with plants located , at off-
airways sites; general optimism
of businessmen and the expecta
tion of continued nigh profit lev
els ; increasing sectional competi
tion; realization by companies
that they can keep travel time of
high-salaried executives at a min
imum by air travel.
The Civil Aeronautics Adminis
tration finds there has . been a
shift from single-engine, two-place
units to the longer, single-engine
models of four to five places and
to the small twin-engine executive
aircraft as well. , .
Makers of the small aircraft
look for a big market ahead for
executive purposes. Some of the
bigger companies are eyeing the
executive market. Grumman, for
example,' plays to bring out this
month its Gulfstream turboprop
executive transport its first entry
zation
ino commercial aviation since the
Korean War. ;
The Investor also sees a big po
tential in the rent-a-plane opera
tion, being given impetus by entry
there of the big rent-a-car com
panies, such as Hertz and Avis.
The renting groups are seeking
business from the 200,000 actively
licensed pilots and an equally
large group of inactive ex-combat
pilots.
Herts plans to have rental
planes in 100 cities by the year
end. Typical rales for a customer
piloted rental of a four-passenger
plane, according to Hertz, would
approximate $1 a day, plus 13
cents per flight mile.
At those rates a 500-mile trip
for a four-some of executives
would cost about $80. .
1 '
Biggest floral clock in the world is planned fo'f international Garden of Tomorrow at Oregon
Centennial exposition grounds at. Portland next summer. Clock, modeled after one" at Christ
church, New Zealand, will actually tell' time', a'nd hands and fate alike will be made.pf grow
ing flowers. World's biggest candle will stand behind clock. Garden will cover Vl acres.
Vl. VflK pesi,.',- trM
SPECIAL NOTICE TO FIRST
NATIONAL BANK CUSTOMERS:
Please continue to use your current
checks, deposit slips, bankbooks and
other banking materials. Materials im
printed with the new name, First National
Bank of Oregon, will be provided you orr
a normal basis of replacement.
AND
..former Th First National Bank of Portland
1
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