Image provided by: University of Oregon Libraries; Eugene, OR
About La Grande observer. (La Grande, Or.) 1959-1968 | View Entire Issue (Aug. 6, 1959)
LA GRANDE OBSERVER
Observer, La Grande, Ore., Thurs., Aug. 6, 1959 Page 9
r.'- -. .
HARVEST TIME IN THE VALLEY
Bob Black,- left, and Mel Tibbs pull wheat from the front of the combine where it
plugged up. The boys work on the Sylva n Rasmusscn farm near La Grande.
' 5 (Observer Photo)
.s-v . j
jiCS - - - n firs
, y:,r-rT,?rr- r , tu?pHr?
T W in w ' ami M i in l i mi 1 1 ipayy
(fffi - 7
WATCH OUT THERE Mel Tibbs operates a combine on the Sylvan Rasmussen
farm near La Grande. Rasmussen had two dombines operating through his 340
wheat acres last Tuesday. (Observer Photo)
Active 1959 Stock Market
Piker Compared With 1929
By ELMER C. WALZER This department doesn't go in
UPI Financial Editor for prophit-y but we have it on
NEW YORK ilTI' The stock Rood authority that situation won't
market lor 1959 has been active
as markets go over inc past
years, but it's a piker compared
So far this year sales have
been the best since 1930 when the
total for the full year amounted
to 810.632.S46 shares.
The 1929 ma ket turned cut
more than a billion snares, me
only year in history that figure
has been attained. The exact to
tal was 1,124.800.410 shares.
The bis thine about the 1929
volume was that it represented
a. turnover of the 942.492,073
shares listed of 119 per cent.
Supiwse we were to catch uo
with 1929 turnover this year, we'd
have to tvadc more than six bil
lion shares between now and the
end of the year.
That little stunt would involve
daily turnover of 60 million
That would be IS times our
best recent markets. Ticker ma
chinery would go to pieces trying
to keep a few hours behind the
market unless huge blocks of
stock were turned over.
If you don't believe this, work
it out for yourself. There are now
listed about 5.5OO.0OO.OOO shares,
take 120 per cent of that to make
it easy. That would bring the to
tal to 6,600,000.000 for a year's
turnover to equal the rate of 1929.
Knock off 600 million for the
year's trading to date which is
being generous and you get six
billion. Divide that by the 100 days
you have to go, by knocking off
two zeros. The answer is 60 mil
lionsthe share total per day to
match 1929 turnover.
Wheat Price Up
WASHINGTON UPI The
Agriculture Department reported
today that poultry used in canned
and other processed foods totaled
20,319.000 pounds in June. S per
cent less than in same month one
The quantity of poultry certified
under federal inspection in June
totaled 408,225,000 pounds, com
pared with only 132.583,000 a year
ago. Practically all poultry mov
ing in interstate commerce has
been processed under compulsory
federal inspection this year, ac
counting for the big jump.
WASHINGTON (UPI The
Agriculture Department said to
day that winter wheat markets
improved last week while spring
wheat and grain sorghums mar
kets slackened. Other grains fluc
tuated within a narrow range...
Winter wheat advanced 2 to 3
cents a bushel at the principal
markets. Spring wheat prices
ranged from no change to four
cents lower. The biggest losses
were in high protein types.
Rye advanced two cents a bush
el in Minneapolis in light trading.
Corn mostly held steady with
price changes restricted to narrow
(level p. This is an investment
market and not a sieculative
market like that of 1929 so far
us trading is concerned.
A glatice at the active issues
hears out tins statement in part.
Ame'ican Motors, the No. 1 active
of li.'8, luis done it again. It's
out way ahead of all the others.
And to think, just two years ago
it was in 4!th placet
Most Activ Utiles
American will dj a lut more
than the stock market as a whole
in percentage turnover. It al
ready has more than turned over
its listings. Last year its turn
oxer was nearly double its list
This stock isn't the succulalion
it once was It has carved a niche
for itself in the investment de
partment of the automobile group
hy its jump in sales.
In second place so far this year
is Aluminum Limited, Canadian
aluminum producer. Last year
Aluminum was in ninth place and
in 1957 it was 29th.
Standaid of Jersey, last year's
fifth place active, is third this
year. And that's just where it
was in 1957. General Motors, last
year's third active, is fou:th this
year. It was second in 1957.
Studebaker-Packard is seventh
this year and Ford, eighth. And
that takes care of the autos, ex
cept Chrysler which is No. 21 on
THE NATION'S I
a. EXPOSITION 4
To Venus, Mars
LOS ANGELES 'LTD The
head of a major U.S. space ex
ploration program Wednesday
foresaw the sending of three
manned space ships to Mars or
Venus some time after 1970.
Dr. Krafft Ehricke, chief of
Project Centaur, said his studies
showed that three ships, all nuclear-powered,
are necessary for
deep space probes.
"Three t ships I will provide for
safety, reliability and emergency
use," he said. "Two of them
would be manned with the third
carrying supplies and emergency
The two manned ships would
carry four men each, he told a
press conference at the conclusion
of the two-day western meeting
of the American Astronaut ical
The Convair astronautics sci
entist said nuclear power was
necessary because chemically
profiled rockets would take too
long "on the order of three
years" for the round trip mission.
"The greater power available
with nuclear propulsion will cut
the time down to about a year.
SECOND SUB SIGNED
NEW YORK il'Pli Benny
'Kid i Paret, Cuban welterweight,
Tuesday became the second sub
stitute to sign against Caspar Or
tega of Mexico for a Madison
Square Garden 10-rounder Fri
day night. Florentino Fernandez
Any longer than that and we
have to worry about how long
men and equipment will hold up,"
Ehricke said the early 1970s
was the "rock-bottom" time when
such missions will be possible
.TOPS IN QUALITY!!
of Cuba was Ortega's original op
ponent, but a virus forced him to
cancel in favor of Charley Scott
of Philadelphia. Scott then found
he was not in condition to meet
WASHINGTON UPI The
Agriculture Department today
named 37 wheat varieties as un
desirable because of inferior mil
ling or baking qualities. They will
be discounted 20 cents a bushel
in price support rates on the 1!MK)
The discount is designed to dis
courage production of these va
rieties so that U. S. wheat of
inferior quality will be less likely
to find its way into domestic and
Officials said plantings of these
undesirable types have been de
clining in recent years. The dis
count is credited with speeding up
WASHINGTON (UPI I The
House has overwhelmingly ap
proved over Agirculture Depart
ment opposition a hike in feUeral
funds to subsidize milk-drinking
by school children.
It passed by' voice vote Monday
a bill to authorize outlays of $81,
000,000 and $84,000,000, respective
ly, for the next two years.
TILL AUG. 14
Exciting 2 Ilout
Musical Revue ir.
Water & On Stage
Famous Stag Acts
Water A Stag
Diving A 'Water
2:30 Aug. 7 A
1:30 Aug. 9
8: IS Mon.Sat.
5:30 Sun., Aug. 9
Th Exotic Boauty f Tradi-
tfpnal JoAnse Ballet
If BIGGEST FAMILY
IN OREGON'S I
LOW IN PRICE
Great Western EatiiT
this HQLSUItl brand!
. . . mmr
in PI it It lags .
. taliu da-o pood
fflfa Shop Chris' Foods jfe
3 For 8
26-Oz. Del Mont
Treasure Valley Peas.... 2 far 29)c
303 TINS TREASURE
Valley Apple Sauce 2 far
KING SIZE '
LIQUID LUX tm 88
WALLA WALLA 46 OZ. LIBBY'S 303 TINS
All Green TOMATO Pioneer
Asparagus JUICE Tomatoes
3! i lluT"! y T,sT
HAVE AN Kg
CHOOSE ONE OF THESE SPECIALLY
PRICED MEATS TO COOK OUTI'
J Swift's Premium
ROAST Llghtwaight A Ttndar
Th king of them all SPARE RIBS
L, 89e u 49e
A I A 1
Swift's Premium .. Good
BONELESS PORK , , . ,
lb. 59c 2 lbs. 95c
u.s. good prir" e
Rib Sleaks .....lb. iS
-USE OUR FREE DELIVERY
6 th & Spring
PLENTY OF FREI PARKING Bit nil 4 411C
SELF SERVICE All II U W"W A A ej