Otryr, La Grande, Ore., Thurs., Dec. 4, 1958 Page 2
Stqte Budgetmakers Trying
td) Reconcile Agency Requests
SALEM (UPl) State budfiet-
iriakers are on the final lap of
their work here trying to reconcile
requests from numerous .state
agencies.
One- of their larger headaches
' has been requests from the State
Board of Higher Education and
'-the. Board of Control for more
than 30 million dollars for build
ing purposes.
.The higher education group
seeks $20,565,000 for building on
various campuses. The Board of
Control wants $10,308,953 for build
ing at state institutions.
These figures asked by the two
agencies will appear in the 105!)
I 61 budget,- but alongside them
. win rut nvnmmnnnm nns irnm
; GOV. Robert D. Holmes.
-Gov.- Holmes has indicated he
' favors that a bond issue be voted
on- by the people for building pur
poses which would make it much
easier for the 1959 Legislature to
find money enough to go around
under the existing tax structure.
Gov. - elect Mark Hatfield also
can make recommendations to the
Legislature, but hasn't made up
his mind on the bond issue plan
as yet.
costing about $1,815,000. It also
seeks $2,223,550 for 500 more beds
at Fairview home.
For the first phase of Dam
masch State hospital near Wilson
ville, some $1,090,203 will be
needed.
The Board of Higher Education
as part of its six-year, BO-million
dollar program seeks this time:
University science building ad
ditions, $3,300,000; Portland State
College classroom building, $2,
750,000; Oregon State physics
chemistry building addition, $2,
515.000; Portland Slate scienc
building, $2,050,000; Oregon State
agricultural and biological science
building, $1,950,000; Oregon State
mechanical engineering building,
$1,305,000; Univer.fity medical
school research building, $1,250,-
000; and a university library
building addition, $1,100,000.
Morgan To Determine
Tax Assessment Case
Wall Street Talks Of Setbacks, Rally
SALEM (UPI) A petition of
A. L. Vincze of Pioneer Truck
Rentals, Klamath Falls, for re
assessment of highway use taxes
In the 1957 Legislature, both the amounting to $42,577 was heard
Board of Higher Education and Tuesday before the Public Utility
the Board of Control .had about Commission.
50 per cent cut from whatt hey The stale claims the company
had asked for capital improve- owes $30,771 in unreported mile
rrients. age fees for the period Jan. 1,
'Their requests this time are 1957 to April 30, 1958 along with
about 2 1-2 times what they wcro interest of $1,140 and penalties of
irt 195?. ' ' $10,058.
Included In the Board of Control Commissioner Howard Morgan
budget is a new women's prison will determine the case.
By ELMER C. WALZER
UPI Financial Editor
NEW YORK (UPI) Wall Street
is talking lunner marm-i sei-
backs on the one hand and the
prospecls of the traditional year
end rally on the oilier.
Those who predict another de
cline are quick to add that reces
sions in prices would provide new
buying opportunities.
The recent sharp drop made
some nervous traders more reac
tion conscious, according to. some
of the experts. Hence, it is noted
that there are more people who
think the market is high and per
haps overdue for a real correc
tion.
"Perhaps this is a good time
to point out that December usual
ly is an up month," says L. L.
Hooper, analyst for W. E. Hutton.
"The market has advanced -34
times and declined 16 times in
December in the past 50 years
And in the past ten years the
December record is up eight and
down two.
"it might also help to keep in
mind that the inhibitions against
accruing larger capital gains
taxes are greater in December
than in January, and that during
the holiday season people tend to
be more optimistic than at any
oilier time of the year.
"Of course no one ever guesses
a short term change in trend ex
cept by accident. But I feel that
the odds against a severe correc
tion during December are greater
than the odds against . something
of the kind in 'January or Feb
ruary." Standard & Poor's notes that
the recent sharp recovery after
a sharp decline indicated that
there is plenty of potential buying
power awaiting an opportunity to
acquire well-situated stocks at
price concessions.
Standard feels tliat the eco
nomic outlook continues to pro
vide strong support for a high
level of stock prices, "subject to
occasional adjustments needed to
correct excesses that might de
velop in the market itself.
"It may well be that thtf cur
rent phase will be characterized
by further irregularity, but we
see no evidence that this will tional selling.
prove to be anything more than
an interlude in the major upward
movement."
Standard finds corporate profits
now staging an impressive re
covery. That service estimates
that for the current quarter prof
its will run at an annual rate of
$3.25 or more and that the trend
will continue upward during the
major portion of 1959. This figure
would compare with $2.71 a share
in the first quarter; $2.75 in the
second and $3.11 in the third.
Barrons finds that the market's
recent sharp recovery demon
strates that under the influence
of institutional operations and 90
per cent margins, neither invest
ors nor speculators are easily
frightened, and there is no emo-
Joseph E. Granville, analyst for
regardless of some appearances E p Hllt(oll & Co., holds that
to the contrary, it is felt ,that the a," ti'ne & Co., and bullish for a
market has a further' corrective . ' iod nolds that the lows
movement ahead prior to a year- estbiis,ed-'inst week are likely
end rally. ' t0 Be tested.
Martin Gilbert, analyst for Van
3
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Ml 9-inch $lnsltnul pit)
I cup tugar 2 egca '
1M teaspoons cinnamon lto cups canned pumpkin
H teaspoon cloves Hi cups (1 large can) undiluted
tt teaspoon allspice MORNING MILK
H teaspoon nutmeg 9-inch Bingle-crust unbaked
W teaspoon ginger pie shell
. Vi teaspoon salt
Blend sugar, spices, and salt together. Add eggs
and pumpkin, Mix well. Stir in Morning Milk.
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(MaktM about 7 do;tn 2-inch cook in)
2 cups sugar
1 cup shortening
2 eggs
14 cup molfliwos
3 cups sifted Hour
1 teaspoon salt
1 teaspoon cinnamon
1 teaspoon nutmeg
1 teaspoon ground cloves
1 teaspoon unking soda
1 teaspoon baking powcUr
1 cup undiluted MORNING
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3 cups quick oat 3
2 tablespoons butter
to cup (small can)
Undiluted
MORN'ING MILK
m cups sugar
A teaspoon salt
l'i cups (about 16 medium)
diced marsh ma I lows
Itt cups (14 6-ounce pkgs.)
semi-sweet chocolate piece
1 teaspoon vanilla
li cup chopped nuts
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Blend sugar, shortening, eggs and molasses until
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Combine butter, Morning Milk, sugar and salt in
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