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About La Grande observer. (La Grande, Or.) 1959-1968 | View Entire Issue (Sept. 2, 1959)
I.. ,.r f- 1 " v' , r :i.rr LOCAL BANK OFFICER HONORED Merle Becket, right, honored on his 25th anniversary with First National Bank of Ore gon at recent luncheon in Portland where C. B.- Stephenson, bank president, pre sented him with engraved gold watch commemorating his faithful service. Beck ett has been manager of the local bank for the past seven years and has served at six other Eastern Oregon branches during his career. 30 Years Was Rosy By ELMER C. WALZER UPI Financial Editor NEW YORK i UPI) with a stock market like the one we've had for a long time, it's fitting to look back on a somewhat similar situation. That might be the market of 1929, 30 years ago, when every thing seemed rosy and there wasn't a cloud in the economic sky. The old ruminator of Vermont, Humphrey B. Neill, he of con trary opinion, did just that the other day. He hied him out to his library in the barn where he pulled down - 52 issues of the MORE SPORTS Phoenix Earns Legion Berth On 7-5 Win BEND. Ore. 'UPI' I'hoeniK defeated Las Unices. N.M., 7-5, in 11 innings Tuesday ninht to win a berth in the national finals of the American Legion Junior Base ball Tournament. The national tourney will ; be held in Hastings, Neb., Sep:. 6-10. Phoenix got only eight hits, but took advantage of nine Las Cruces errors to win the western region al championship. Bob Gordon got the victory, his 13th against four losses. The score was tied at 5-5 after nine innings. Las Cruces loaded the bases with only one out in the bottom of the loth, but couldn't bring the winning run across. Phoenix iced the contest in the 11th with a walk, a single, a dou ble steal, and a two-run single. Ace Armstrong Meets British Champ On TV CAMDEN. N. J. tUPH Dick Tiger, British Empire Middle weight champion, aimed to snap fourth-ranked George 'Acei Arm strong's 17-bout winning streak to night and register the first vic tory of his own U.S. invasion. I The 30-year-old Tiger, a bust ling battler inside in contrast to must British boxers, hoped to cash in on the ring rustiness of his Elizabeth. N.J.. opponent in their 10-round, nationally -televised, bout. Armstrong. 27. has been idle more than six months since vic tories over Eddie Dixon and Italo Scortichini. Tiger, who hails from Amaigbo. Nigeria, met Rory Calhoun twice since invading these shores in quest of purses and a chance to boost his 33-8-2 log. He drew and then lost a close decision to Calhoun. KNICKS SIGN THREE NEW YORK 'UPI 1 Kenny Sears, Willie Naulls and Charlie Tyra have signed New York Knickerbocker contracts for the" 1959-50 National Basketball Assn. season. I 1 I ',.-.' '''I,. -r.,jt5 X I Ago, Stock Just Like Annalist covering 19?9. The An nalist was a financial magazine published by the New York Times and since discontinued. Back there speculation was wilder than now, he notes. The little people were trading on shoe string margins while the big pools were operating on every body's money. Crisis Historic Event A money crisis early in 1929 in March was an historic event. Call money loans on securities) rose to 10 per cent, while simul taneously the stock market fell 20 per cent. It recovered prompt ly, however, only to tumble again in May. "The New York banks. led by "Charley" Mitchell, president of the National City Bank." he re calls, "came to the 'ill-advised' rescue of the money market. The Federal Reserve had re peatedly warned against specula tion and brokers' loans, and had threatened lo get tough. "Mitchell, however, with call money at 20 :cr cent, asserted that 'So far as this institution is concerned, we feel an obligation pa'amount to any Federal Re serve warning.' "Thereupon he and other bank- Boxing Group To 'Tighten' Jurisdiction TORONTO (UPI I - The Na tional Boxing Assn. intends to tighten up the ring-rojies under its jurisdiction according1 to Com missioner Abe J. Greene of Pa' terson. N. J. Greene announced a multi-fold program during a speech at the NBA's 40th annual convention which opened Monday. Greene and the NBA intend lo control each fight division to the point where it is impossible to freeze a title. He said this was to prevent a repetition of the Sugar Ray Robinson middle weight fiasco, whereby Robinson is only recognijed as champion in Massachusetts and New York state. He also expressed concern over the invasion of gansters into the promotional end of boxing. "Investigations now underway in New York and California have left us most perturbed," he said. "In California, it's already been proven by a federal grand jury that this has led to cutting box ers up into pieces." REPORTS TO ROUGH RIDERS OTTAWA. Ont. (UPI) Carl Smith, former University of Ten nessee back, has reported to the Ottawa Rough Riders for a try- out. Smith was recently released by the Detroit Lions of the Na tional Football League. PITTSBURGH PAINT LASTS LONGER SSI Miller Cabintt Sivop Market Today! ers offered large sums to Wall Street to avert the crisis. As the Annalist reported, one of the sharpest declines in the history of the New York Stock Exchange was suddenly changed into, one of the most remarkable rallies in the history of the institution." Delusion of New Era On June 28, the Annalist's commentator who has been level headed all year wrote that he felt faets "all lead to the conclu sion that we have rot seen the culmination of the great advance of 1927-1929. Fantastic' as the present level of prices may seem something still more fantastic probably lies ahead." Some of us have similar mis givings today, the ruminator ob serves. The Federal Reserve held back until August and then got tough when it was too late. The stock market paid no attention. August registered a wild scramble. The final spurt and blo--off was short and sweet s'.range to relate. "In only a very few weeks." the ruminator recals. "with the first week in September the back off point in the roller coaster, the market ended history's up-to-then greatest bull market. Black Thursday Oct. 24 "Prices dropped in September, collapsed in October, and wash ed out in the November panic. I recall ,the black Thursday of Oct. 24, 192!) 13 million shares traded the stock ticker in our of fice tan until 7:30 printing tran sactions four and a half hours after the market closed." That's'the way the old rumina tor spent a hot afternoon in Ver mont a few days ago. He holds such reviewing is a good idea to recall the e-as of the past that resemble the present. Wc haven't the speculation of those days with margins at 90 per cent, but prices are mighty high. The industrial average hit 381.10. the record for the Dcriod. on Sept. 3. 1929. Then it fell to a new low at 41.22 in mid-1932. A subsequent rise carried the average to 194.40 in 1937. From there it fell irregularly to 92.92. It hasn't come close to 92.92 since 1912 and hence may assert we have been in a bull market since then. If so the rise to the recent high of 678.10 makes this the biggest bull market in his tory. The ore in 1929 was the biggest in history to that dale. STATED COMMUNICATION La Grande Lodge No. 41 A.F. & A.M. WED., SEPT. 2ND., 8 P.M. Nord Calvert, W.M. llinois Worker Will Labor Day By EVERETT R. IRWIN UPI Staff Writer CRYSTAL LAKE. 111. iUPI-A iran on a disnjrocahle mission will mingle with holiday beat motorists over the Labor Day weekend. .lames Seymour. 41. an uphol-ste-er by traie but a traffic La Grande Postmaster Issues Warning About Mail-Order Obscenity La Grande Postmaster Victor Eckley has warned of obscenity .dealers who mail filthy material to minor children in reminding residents about the Post office Department's drive to stamp out this type of racketeering. The postmaster said today that these "filth merchants" arc try ing to evade the law by raising cries of "censorship," "freedom of speech," and "civil liberties." He said that these racketeers, reacting to the department's all- out war on them, are increasing their ctlorts to make use on every loopniiic aim inc , can tind in tne noon 10 avow l punishment in the face of an in creasingly aroused public' In a recent report. Postmaster General Arthur Summer-field ob served that lawyers retained by the dealers in obscenity "make a practice of hamstringing, delay ing and confusing action until their clients often have gone free or received only small prison terms or fines." They are experts," Summer- field emphasized, "at raising wounded cries about censor ship," 'freedom of the press,' and 'civil liberties." And all too often, thev arc able to find will ing pawns to take up meir cry mil rarrv on their slimy battle for them." The Post Office Department hat annealed to the American public to recognize this "as the utter nonsense it is," pointing Editor, NAACP Man Debate Integration DALLAS, Tex. (UPI) A Jack son, Miss., newspaper editor and NAACP lawyer Thurgood Mar shall staged a heated debate on integration Tuesday night during a panel discussion at a Methodist conference on human relations. The editor. Oliver Emerich.'and Marshall exchanged heated view points on segregation and treat ment of Negroes in Mississippi. However, "the discussion never did go beyond the point of good taste." Emerich said. Emerich is editor of the State Times in Jackson. Marshall has been Drominent in integration lo gal battles in the South as chief counsel for the National Associa tion for the Advancement of Col orcd People. Heated discussion broke out be tween Marshall and l.mcnch when Ma-shall said it was not possible for a Negro lo study law at the exense of the state in Mississipni. Emerich countered by saying that Mississippi has a law per mitting Negroes to study any sub ject at out-of-state schools if the courses are not made available to them in the state. Marshall said Negroes had at tempted to enter Mississippi high schools and had been run out of town. Emerich disputed the statement. The discussion at Southern Methodist University was part of a five-day-long conference that began here Sunday. More than 1,200 Methodist leaders are ex pected to register for the meet ings before they close Friday., l A Router Model 100 am i An amazing leol with hundreds of vied Civ that professional touch to ' all your workshop projects. Ideal for decorative edges, corners, nd surfaces on furniture. Pra tkal for hinge mortisinx, groov ing, weather strippinf tC'V-SO and shelving. 9 1 ftep Is for 4msntfrtte IAIY IU0OIT TtRMS INDUSTRIAL Machinery & Supply 1410 Adams WO 3-4623 Highway safely crusader at heart, will no out searching for slaughter on the highways. If he finds it, he will record It oi f I nt in the hope Hint his graphic movies n color will "jolt Americans inio wuking up''. "We've got to leach people what's going on on our high- nut that our society has many legal provisions aimed at pro tecting minor children from corrupting influence. "It has been noted many times in testimony before Congress and in public statements that we have laws setting a minimum age for buying alcoholic beverag es; we forbid traffic in narcotics and attach severe penalties when it involves minor children; and we set minimum ages at which children are permitted to drive automobiles. .. ,hosc have anvthing to do with cvj liberties, censorship or freedom of the press? Of course they do not no more so than does the protection of our children from the poison of ob scene literature." Fortunately. Summemlle re ported, the nation's press and American parents generally are "recognizing this smoke screen as sheer hypocrisy. Parents are warned not to be misled by these appeals set up by the racketeers who profit in the corruption of youth and oft en echoed by their deluded pawns. Parents are asked to gather evidence of such material when it is mailed to their children, and to turn it over to the local post master, with the covering enve lope, so that the Post Office De partment can intensify its coop eration with court and law en forcement officers in the nation wide assault on this racket. TUMWATEft the one priceless ingredient ... JtS TUB WUier Record Slaughter ways, mercd Seymour said as he ham tucks into a chair in his shon. "Forty thousand people, more or less, are going to be killed on tho .highw ays this yea But that doesn't start to tell the story. Affects Entire Family "When a man s dead: he's dead But when he or members of his family are crippled for life, there is untold misery, torture and fi nancial ha-dship. It goes on for months or years and affects all the family." Seymour's mother-in-lav was killed in a traffic accident is vears ago and he couldn't get it out of his mind, he said. Six years ago he began his crusade of cruising the highways on holidays and weekends, watching tor chance to take grim shots of acci dent scenes. His car is equipiied with camer as ready to shoot through the windshield as he approaches a smashed up automobile, lie has' two police radio receivers in his car, three in his shop. "When 1 get wind of an acci dent, I'm on my way." he said "If I'm in my shop, I don't even take time to lock up. 'Often I get to the scene before the police und ambulances arrive." Roved 175,030 Miles Since 1953, he's roved over "175, 000 miles of ' highways, seen twisted metal and human bodies at .700 accident sites, counted 135 "fatals" and "more thousands of injured persons than I care to re member." Seymour said he's shot more than 60.000 feet of 16 millimeter movie film, out of which he got "8.000 good feet of accident film". His on-the-spot film was made into a movie, "Slaughter on the Highways," which has been viewed by an estimated 75,000 persons from Canada to Florida For some of the 300 or more showings, Seymour has received a small fee. Often, he said, hi hasn't made expenses. "Financially, I take a royal beating," he said. "1 spend part of what I make in the upholstery business to ke?p my picture-taking going." Weekend Typical The Labor Day weekend, for Why Olympia is brewed only at Tumwater Since 1896, light Olympia Beer has been brewed at (he little town of Tumwater, near Olympia, in Washington State. For it is here that Olympia's famed brewing water was discovered flowing cold and pure from deep artesian wells. At various times in the past, Olympia's founding family established other breweries along the Pacific Coast. Identical equipment and methods were employed. The same premium quality Jops and grains were used. The best water supply available in each region was utilized. Yet, at none of these other locations was it possible to brew a beer of the character and quality which the name Olympia had come to represent. Without tho one priceless ingredient the naturally perfect brewing water Olympia's refreshing flavor could not be duplicated elsewhere. That is why Olympia Beer is brewed only at Tumwater and why Olympia's gixxl taste remains refreshingly diffcrcntyvt always just the same. (s r ? n V'-'ns,'-n V, ' I fx,- . - 'l-A - "' V " - t;; - s : V ' t ! " "1 .-'-'V. v , ... .' 1 i Observer, La Grande, Ore., Wrtl., Sept. 2, 1959 Page 3 Singer Pat Boone Breaks Little Toe HOLLYWOOD l 1I' Singer Pat lliKine broke the little toe on his nfilit foot Tin- lay on a movie set when he kckc.l wii.it ho thought was a stuilio prop, ac cording to 2llh (Vmurs Fox. limine, who on Mo day helped fiitht a fire at llui studio, suf fered the broken too by k Vkiti'l what turned out to lie a real rock He was permitted lo le'uni 1 work oi ".iour'cy to iii" Center of the Earth" alter !-. Lee ,S legal taped li:s tos. UNEMPLOYMENT RISE LONDON 1 1 l'l I'vc-iinloy-menl in ltrita;!i jumped in J'l'.y hy IK.tMO tor the tirt sii-h in crease sima January, the Minis try of Labor am.omued Mu'vlay. The number of jobless stood at 427.0iw ...iii i... 1....1-..1 ..i hi- holiday weekends for s e v e r l -v" .... I'll - a iv . 1H r1 tit 1 (I'll UUi ill nil Wl i s - dav night and pull ..i alu.ut 4 a e . i u j .,, uA ill. Satttrdnv, he said. Ill be out aM'n ail dav Suulav. rrt of Sunday night, acai-i or, Ma, ul.-.v". How does he reel uN.ut lakinfil picture nf peon w ho are dead or agonizingly injured , . . I just pray, a id coaee itrate on my feotac. he smrt. "loo many people try to hi lp Wall! well-meaning but poorly placed paced the market irregularly first aid that should he left loihinher today in ipiiet trading, police and ambulance a'teada ils. The market succeeded in recuv- 1 go on doing a job trying to take pictures that Will bri'ii,i sharp lossc.i. which followed a home tie slanghte- on the hiifli- further ti.ghteni"g in the money :ivs." Non-Surgical Method Cures Hemorihoids Painlessly ' A relatively painless, non surgical method of treating hemorrhoids (piles) is work ing therapeutic miracles for thousands who suffer from rectal and colon disorders. A recently developed elec tronic treatment is proving more effective than surgery, with none of the after effects of surgery. The treatment requires no Advarlltamtnt 'A' J VUitort an uirlcnrnt lo 'Ont A mrlira'' fmetinml Brntmrin." Olymiaa Mmvinl Ciunfjanv Oimnu. W wti'Dl-n. U.S.A.. nry day brlurrn Iht hourt W .ll onrf I'M- '" '' MARKETS By United Press International PORTLAND GRAIN White, wheat I (Hi. So't white, hard applicable 1.00. White Club 1 'Mi. Hard r, d wii'ti r ordinary 1.IMI. lL.rd white ba.irt. ordinary 2 i2. O Is , io. li.irUy 41 oo. OOiV-JONES AVERAGES"" li. v .l.iiu liit.il stock averajus: ti in i;.iln; tus '.'. 217.7.'. Salt share? ii- ri.il ulVSiO. olf 0 10; 20 i!s :i4. ol. D.7.U 15 uljli- C. o f O.C. I luid ti.17 stiKjks o:f ti -Mlay were about 2.371 .ft' unman it with 2.4:11 ,oi0 Tu sdav. PORTLAN D D At 3Y harc; Pi iRi .4 I.AM) il l- Dairy market i t t..a i:y.-: i i.-i.Mi.-i. Grade A A ; A A larne. ! " '" ' '"','"- AA meili- "-in,.. A o-.n - u'i'i '- v-v .", ' 2ii-2oC car- i it, i lo , ",l ". """ Hii tcr lo re aders: AA and , , . .... fa l"'- . 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