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About La Grande observer. (La Grande, Or.) 1959-1968 | View Entire Issue (Aug. 13, 1959)
LA GRANDE OBSERVER Observer, La Grande, Ore., Thurs., Aug. 13, 1959 Page 9 WHAT EXPLORER VI iS DOING: 1. Mapping Van Allen rodiotien zones otiout earm L l'L 2. Trowmittiiij fint crude "-""",JE. 3 Measuring density of miero- . v- VfvNX meteorites potential IV Investigating size and density of earth' magnetic field " ' 5. Studying rodio wovei in space, possibility of planetjro plattet communication Wall Street Experts Say The Bull Living But He's Getting Old 'IT WAS AN HONORABLE DEFEAT' Tension, Excitemen Toll During Cricket Takes Match By ELMER C. WALZER UPI Staff Writer KEW YORK H Pl The bui! market still lives say the Wall Street experts. The bull old bu! be s not suffering any organic difficul ties. Each time he gets a bit of indigestion, there's a load cry he's dying. The experts measure him for a coffin and then he grows bigger and bigger new measurements have to be taken. The experts agree with this diagnosis, but they warn that this bull market is in its last phase. The last phase could last through I960 into 11. they assert. However, there will be more ups and down from now on, they assert. Buying will be more se lective. Then as the time draws near for the death of the bull there may well be a wild rush to buy anything that's quoted the higher the better. Edmund W. Tabell, analyst for Walston & Co., doesn't look for a topotit of the market before late i960 or in 1961 and then the industrial average may have reached 750-800. he holds. The final phase of the bull market may see speculation in dubious stocks, says Tabell Caution Reigns This market, he along with other analysts says, has been vry high and subject to a seiloff. The big trailers a-e becoming cautious, and so are the institu tions and funds. The recent talk of a thawing out of the cold war through the exchange of visits of the top men in the U.S. and Russia is seen more as an excuse than a real reason for selling the mar ket. If it weren't for that item, the sellers would find another ex cuse, it is held. B. K. Thurlow, analyst for J. R By FRANK ELEAZER UPI Staff Writer WASHINGTON' it'PH The Aus tralian Embassy notice to sport ing editors said play v.ould begin at 11, and to be there at 10:30. I was, and while waiting ttor the others I was able to read what it said : about triekst- in Volume C (coml through deaf) of the super market encyclopedia. - By 11, quite a few members of the British Commonwealth Crick et Club, or home team, were on hand, wearing white shirts and pants, tennis shoes, and polite smiles. They ran up the blue and white BCCC pennant, erected the score board, and unfolded the col lapsible chairs. At 11:08 a six-man advance party froai the Australian Old Collegians cricket team, here on tour in the interests of cricket, hot tea, and international friend ship, popped out of a blue seda'i. just like in the TV commercials only this was a Mercedes-Benz instead of a Ford. Dr. . Basil do B. Darwent, a chemistry professor at Catholic I'niversity and captain of the BCCC, announced that "cricket is very similar to baseball." I con cluded later he meant that both game are played with two teams and a ball. Unfortunately -Djy Darwent could not stay to narrate the game, although 1 had assumed he would simply take the morning off from work. But the first thing to learn about cricket is that a morning isn't enough. Some contests go on for days. By gentleman's agreement, this ore was to conclude at 6:45. whether or not anybody had won. Ths Australians explained thai Ihcy have only 4'i months for their tour. By 12:(i? the water was boiling for tea, the Australians had loffed their navy blue blazers, and both teams pronounced them selves top hole and ready to start. Acting Capt. Richard Evans, for the home loam, and Capt. Jim Court, for the visitors, strode out to the wicket and tossed an American 50-cent piece for first bat. "Which is heads" they debated after the toss. A friendly native umpired this dilemma, in favor of the Australians, who sent out two batters, CoBt,, Cpurt himself and Les Westaway. The home team meantime fielded a pair of bowlers, Sgt. Peter Fryer of the British Air Force, and H. Mirza of Pakistan, a World Bank em ploye and son of a former Paki stan president, plus 9 fieldsmen who were posted at such strate gic points as mid on and mid-off short slip and square leg. "Cricket." according to a re cent treatise in the New York Times, "is about knocking down two pieces of wood with a ball, As far as t could tell, this proved to be correct, and by 1:20 p.m. Westaway and Court, batting alternately, had scored 35 runs each in an outstanding effort to block attainment of this goal by bowlers Fryer and Mirza. An enthusiastic crowd of some 13 persons observed the develop ments from under the green can vas canopy, several times going so far as to applaud. One observ er in a regrettable remission of manners once raised his voice. Tension Crows I believe what he said was "look out," a cautionary note ap parently addressed to the bats By the lunch break the Austral ians had scored 138 runs at a loss of only one wicket. Play was re sumed at 2:45. Westaway possi bly had eaten too much of the potato salad, Swiss cheese, sala mi, liverwurst, fruit cup, and but tered rolls, and not enough of the hot tea. He was bowled out al most at once. By now the tension and excite ment were taking their toll on the press. I left regretfully, shortly before the midafternoon tea break. Acting Capt. Evans phoned me the results about ? p.m. The Australian Old Colle gians had scored 194 runs to the British Commonwealth Club' 114. "it was an honorable defeat," Evans reported. Williston 4- Bear.e, says it's too early to be dogmatic alxxtt the end of this bull market. He guesses that if the tempo of dai'y trading rises to four million shares or more by Labor, Ray. one can look lor spectacu-; lar but potentially dangerous ! markets during the fourth quar ter. If the volume is lower, we should look for a continuation of the rise, he adds. As the end of the market rise draws near, Thurlow expects wild speculation with buying in creasing as prices rise. He sees traders running after stocks. Best Investments When that time comes, the best trading media, he finds, are often the last stocks one would choose for investment. They may be the most over-priced, risky, glamorous issues which are being bought blindly by inex-. perienced traders who think that making money in the stock mar ket is as easy as reading news papers. When the blow-off nears and speculation is rife, Thurlow says the truly conservative investor should have 40 to SO per cent of his capital in short term gov ernment or high coujion munici pal obligations. The balance (a'sart from the inevitable special situations he says should be in dynamic com mon stocks which appear to have at least as much of their stock market growth ahead of them as they have enjoyed in the past year another way of saying 'swimming with the tide." The market men hold that the high level of industrial produc tion despite the steel strike is a reason for expecting a better stock market in the near future. They feet that the market needed a good shakeout and now that it has come there will be a sub stantial recovery. Most of the experts warn that from now on, however, shakeouts may be more numerous until the public really takes hold of the market. Then will come the big markets and the eventual break, the prophets assert. Yaquina Boy, Harbor v Project is Approved WASHINGTON UPJ A con ference committee on the public works appropriation bill Wednes day approved 109.UG for pre construction planning; funds for the Yaquina bay and harbor proj ect in Oregon, Rep. Walter Nor blad tR Ore.t reported. He said the committee also ap proved $83,008 for continuation of the Monmouth-Dallas reclamation project study. OAR RELEASES FIRMS CAIRO tl'Plt The United Arab Republic has released 40 more British properties' seized after the 16 Sue crisis, the semi-official Middle Eadt News Agency said today. The property freed Tuesday included the Brit ish bank for the Middle East in Damascus and the Port Said Wa ter Supply Co., the agency said. OH, THOSE ICE OEELZOvd: SiLUCES ... money can't buy such saijn-smooth sauces as you stir up with double-rich SEGO Milk, Karo Syrup and Jell-O Instant Pudding! I .".7,. : NO COOKING JUST STIR CHOCOLATE SAUCE -Mil wtlil smooth I package JeB-O Chocolate Instant Pudding, tup light or Dork Ksre Syrup. Shf in grod oHr K f SIGO Milk, t tea. Vanilla, let stand te fajmv 10 evjk UTTEtSCOTCH SAUCE - follow nop (or Chocolate Sauce, but ese iatt-O Butterscotch tmtent PeJdiat 6 Dork Kara Sytvp, Ont VarcUa. 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