Observer, La Grande, Ore.,
-A
1 1 mv
4 f
w
l US'
. AWARDS La Grande Junior High School assis
tant principal Dale Wyatt awards last years'
' outstanding students trophies that arrived lust
MARKETS
By United Press International
" PORTLAND LIVESTOCK
Pattle 250; includes 2 loads fed
steers and few heifers; fed steers
unsold) few good sleers , 25.75
20.50;standard 24-25; utility 20-24;
load choice 1061 lb. steers Mon
day 28; load mixed good - choice
768 lb. fed heifers today 26.25
part load 850 lb. 26; good heifers
24.50-26; standard 22.50-24.50; util
ity l!)-22..pi0; Ulilily cows 17.50-20;
canner-cutter 14.50 16.50; bulls
scarce. ' V
Calves 50; active, steady;
Choice vcalors 31-34; good 27-31;
good, - choice slaughter calves 2B-
20; standard calves and vcalers
23-27i
Hogs 300; trade moderately ac
tlvo, steady to 25c higher; '! and
2 butchers 180 - 235 lb. 20.50 - 21;
mixedv 1, 2 and 3 grrfde 10.50-
20.25 ; 240-270 lb. 10 - 20; mixed
sows: 350-550 11). 16.50-18:50.
Sheep 400; aotivc; steady to
strong; choice wooled and shorn
85-110 lb slaughter lambs 20.50-21
good 10.50-20; good-choice feeders
17-10; cull-good ewes 3.50-0.
PORTLAND DAIRY
.Eggs To retailers: Grade AA
large 47-50c; A large 44-47c; A A
medium 38-40c; A medium 38-39e
AA small 30-33c; carton 1-3C addi
tional. : '
Butter 'To retailers; AA and
Grade A' prints, 67-68C lb,.; carton
lc higher; li prints, us-wic.
Cheese (medium cured) To
retailers: A grade Cheddar singles
daisies, 39'51c; processed Amen
con cheese, 5-lb. loaf 40-43e.
PORTLAND GRAIN
White wheal- 2.04
Soft' white, 11. R. applicable 2.04
White club 2.04"
Hard red winter, ordinary 2.04
Hard while baari, ordinary 2.07
Oats no bid
Barley no bid.
. New York Stocks
NEW YORK UIJI Major
sections of the stock market de
clined moderately today on sharp
ly reduced volume.
Profit taking hit the low-priced
automobiles for n time. Studcbak-er-l'ackard
fell to 13Vj where it
was off more than 2 points before
support developed. American Mo
tors at Its' low was down exactly
2 points. The higher priced motors
held steady (o slightly easier.
Chemicals rallied after som
further selling. Dul'ont showed f
ri.se of more than a point late ir
the day. Several of the drugs, ex
cepl American Home Products
down nearly 2 showed gains run
ning lo more than a point.
" Steels cased. Metals turned ir
regular after on early rise on fir
mer prices for copper. Continen
tal Steel, nn exception, rose 3
points.
. Oils registered an improvement.
Amerada come back nearly tw
points from ils low to a fraclionn'
gain. Kerr McGee rose more than
a point lo a new high.
Kenneth L Myrick
Funeral Rites Set
Kenneth I.orcn Myriek of Half
way died while deer hunting near
that town yeslerday.
Funeral services will bo held tit
Really Funeral Home at Baker
nt 11 a.m. on Thursday. Graveside
services will he held at Flgin
cemetery at 2 p.m. on Thursday by
flew Galllvan.
Mr. Myrick was born nl Covr
on Sept. 8. 1884. lie hod lived
most of his life in Elgin. Recently
he had been residing with a son,
Pale,; at Halfway.
Survivors include five sons
Ceroid of. i.os Angeles: Ivan of
Sacramento; Lnren who lives in
Montana; Glen of Baker, and Dale.
Eight grandchildren also survive.
INCORPORATION REJECTED
TIGARD, Ore. (UPI) Voters
Monday rejected by a 354-226
margin a proposal to incorporate
this community. It was the sec
ond time they have done so in
four, months.
Tues., Oct. 21 1958 Page 8
Gary Crosby
Involved In
Club Fracas
HOLLYWOOD UP1) Gary
Crosby's alleged insulting of . a
man's wife led to a brief scrap
at a cocktail party honoring poet
Carl Sandburg, it was disclosed
today.
Crosby and John W. Gelger,
West Coast head of a cheese com
pany which sponsors Milton
Bene s TV show, wrestled on the
floor of the Rodeo Room of the
Beverly Hills Hotel Monday night
They were separated by others at
the party, including actor James
Mason.
Sandburg bad left the party
given by Berle before the fracas
as had others including Sammy
Davis Jr., Grouclio Marx, Barba
ra Nichols, and Tina Louise."
"He insulted my wife," Geigor
said after the brawl was over.
Others colled the episode a
slight misunderstanding" and snid
the participants shook hands aft
erward.
BIBLE WEEK For the lath
year in succession, the Lay
men's National Committee, Inc.,
nn intordenomlnatioinl organi
zation, is sponsoring National
Bible Week, Oct. 20-26. The
program is designed to encour-,
age a daily, reading and study
of the Bible. Shown above is
the official poster.
N. Powder News
BY DONNA FORDICE
The WSCS women of Ihc Com
nunity church arc planning their
nniuil smorgasbord for W Mines
lay, Oct.- 22, at the sehoolhouse
They are urging all to attend.
o
Mrs. Clifford Culver entertain-
d the second grade with a birth-1
lay party for her son, Keith. Thc
.lain oltritction of the party was
i large pink and white cake,
veith was seven years old,
Mrs. Sue Guliek honored her
;randdaughler JoAnn witli a
lirthday parly. The party was
utended by the fourth grade class.
.'oAnn was nine years old.
Mr. and Mrs. Darwin Harrison
ire visiting Ins parents, Mrs.
lack Ryan and Albert Harrison.
I'hey plan to make their home in
he area.
It's a factl Your gee savings
can make the monthly payments!
with the new LLOYD WAG EN
H. J. G0SS
MOTOR CO.
.La Grande
WO 3 2712
fer A V:
lost week. Trophies were awarded to (left to
right) Elizabeth Ann Easley, Janet . Cunning
ham and Mike Challis (Observer Photo)
Authorities
Probe Slaying
Of 4 In Bar
NEW YORK (UPD The mad
dened off-duty policeman who
methodicalfy shot four patrons of
a Broadway restaurant-bar in the
head early Sunday had been
banned from the place for drunk-
enly annoying the customers, po
lice said Monday night.
Patrolman James. B. McDer-
mott had been told by owner Lou
Olman of the Pic-A-Rib restaurant
to stay away because he became
boisterous when . drinking and
bothered the other customers, no
lice Inspector Frederick Lussen
said. '
Police were inclined, however
to discount the possibility that
McDermott may have been driven
by vengeful feelings u'tainsl 01
man when he stalked into the bar
and killed the four persons, three
of whom McDermott knew.
Police also were Investigating
tho possibility that McDermott
owed money to one ol his vic
tims, loan shark Edmund Leahy
but McDermott's wile, mother of
his four children, said she did not
know of any such debts. The best
explanation appeared today lo be
simply that McDermott had sud
denly gone mad, possibly from a
head injury received in an auto
accident last year.
McDermott still was' in critical
condition today at Roosevelt Hos
pital. State Of Siege
imposed In
Bolivia Today
LA PAZ, Bolivia (UPI - An
armed revolt against the govern
ment of President Hcrnnn Siles
Suazo broke out at down today,
and a state of siege was Imposed
on Bolivia.
The revolt' was attributed to the
opposition Bolivnn Socialist Fa
lange. The state radio said four
Falangist leaders were arrested.
The radio said the government
controlled 'the situation and that
the country was calm outside of
La Paz.
At least two person' were re
ported killed in clashes during the
early hours.
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Margin Increase
Raises Cry Against Speculators
By ELMER C. WALZER
UPI Financial Editor
NEW YORK t UPI i The usual
hue and cry against speculators
that appears each time there is
a margin increase is in the air
again.
One can speculate in real estate
in soybeans, in diamonds, or in
paper cups and no one says any
tliig about it. But when one
speculates in stocks or bonds the
politicians and other observers
make it sound like something il
legal or just plain bad.
All sorts of things are being
said about the people who recent
ly speculated in government bonds
and got their fingers burned.
Now that ' margins have been
boosted lo 00 per cent by the Fed
eral Reserve Board, there is talk
that speculators have been send
ing stock prices soaring to the
detriment of the economy.
Wall Street points out that little
speculation can be done with
margins at 70 per cent and prac-
Poll Indicates
Ministers Favor
Integration 4-1
NEW YORK (UPI) A confi
dential poll indicated Monday that
four out of five Protestant min
isters in the South favor racial
integration in southern schools.
Most of the remaining ministers
favor searching for possible legal
means of thwarting implementa
tion of the Supreme Court's de
segregation order although dis
avowing open disobedience, ac
cording to Pulpit Digest which
conducted the poll. Only 3 per
cent expressed lavor with open
disobedience, the publication said.
Of the 3,606 questionaircs sent
out (representing one-fifth of the
number of Protestant ministers in
the South) 769 have been returned
to Pulpit Digest, a nondenomina
tional professional journal for
Protestant ministry and seminary
students.
The poll indicated that senti
ment for integration was almost
unanimous among ministers in
'lie border states. By comparison,
in South Carolina only' 50 per cent
of the responding ministers fa
vored integration, with 28 per cent
favoring n quest of legal means
to avoid integration and 11 per
cent favoring open disobedience.
In Kentucky 89 per cent favor
integration; in Texas 87 per cent;
in the District of Columbia 86 per
cent, and in North Carolina 84 per
cent, the poll showed. In Arkan
sas and Mississippi, however, on
ly 54 per cent expressed them
selves in favor of school integra
tion, and in Alabama 53 per cent.
Approximately half of the min
isters said they believed racial in
tegration in the schools was in
evitable. Only 7 per cent said that
integration could "never succeed"
in the South.
-Mmeeiatonet heat
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You can save, too. Just phone your Housewarmer
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Bused on actual case history filo No. HO-10-20
Call these
R.
On Market
tically none with them at 90 per
cent. The current market prac
tically is on a cash basis, these
experts assert.
There still is speculation in the
market definition of the word.
Suppose someone buys a nondivi
dend payer in the hope the price
will appreciate and he can make
a profit. That's one form of spec
ulation as opposed to investment
where one buys a stock for in
come. Short selling also is classed
as speculation.
Both these types of speculation
are considered highly necessary
for a liquid market. The investor
can find buyers for a stock lie
wants to sell. The speculator
helps produce activity and keep
the market in a narrow area.
Without speculation, there might
well be very wide changes in
price between sales, it is pointed
out.
And those government bond
speculators did a big service for
the Treasury too, according to
Aubrey G. Lanston. dealer in
governments and head of the firm
that bears his name.
Speaking of Treasury financing
over the past 15 months, he says:
"The Treasury invited specula
tors to underwrite its offering of
securities with a term past one
year and without a good dose of
speculation the Treasury would
not have been able lo sell the
$26,500,000,000 of such securities
that it sold during the 11 months
ending last June."
Ho cites several other govern
ment offerings which he says
were successfully .sold "because
of the speculative appeal the
Treasury tailored into the offer
ings." He holds excessive speculation
tends to be self-correcting and
doesn't believe speculation will
enter the Treasury security mar
ket as freely as it did before be
cause of the heavy losses lo spec
ulators recently.
Final Beam
Placed In Kaiser
Office Building'
OAKLAND, Calif. (UPI) The
final structural piece of steel was
bolted into place today on the
huge Kaiser Center building,
which will be the West's largest
office building when It is complet
ed late next year.
The last beam closed a 30-fool
span in the roof line, 21 stories
above the ground.
The mammoth structure will
serve as the world headquarters
of the Kaiser industrial empire. It
will be the principal building of a
45 million dollar, block-square development.-
-, ,
TJtfe headquarters building will
contain a gross area of 970,000
square feet, . including 802,000
square feet of usuable space
enough to make it the largest of
fice building west of tho Rocky
Mountains. ' . i
1 ' mm&
Pfi, HEATIUO OILS fiJlfflff 'uSU' .
authorized Housewarmers
LISLE SMITH io
STANDARD OIL COMPANy 'F
Mrs. Anna Taylor fell at her
home and injured her knee.
Mrs. Taylor is now staying with
her daughter.
An estimated 40 per cent of
American families now own one
or more musical instruments.
witlrSf S.S heat!
.; Think of it ! No more furnace tending to worry about ...
i no 'home fires' to keep burning. Because Gas heat is
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bout furnace drudgery. Just relax, set the thermostat
and go about your daily duties.
ot
K is
: is
if .
to
its
W
AIRLINES RUSH
NEW YORK (UPI I The wing
lip of an American Airlines DC6
hit the tail assembly of a Capital
Airlines Viscount Wednesday when
both planes were taxyinf into po
sition at La Guardia Airport. Both
planes were slightly damaged in
(lie accident. No one was hurt.
') e
njey winter
comfort
. to""
ott'
,tV
"
CALIFORNIA-PACIFIC
UTILITIES COMPANY
for Standard Heating Oils
WO 3-5711
CALIFORNIA
Recapping
f$2 Turley's
the
a t
.CAN
-