Market Quotations
Observer, La Grande, Ore., Frl., Sept. 18, 1959 Page 8
NEW YORK STOCKS
NEW YORK UPH SlcxkJ ex
tended Thursday' late decline I
to Z points today, but trading re
mained on the quiet side.
r.irclronics Issue again were
the heaviest loser, paced by a
drop oi nearly 9 points in Gen
eral Tiino. Litton dropped 2 de
spite a stock split proposal, and
Zemin and IBM both lost about I
DuPont lost 2 and Allied Chemi
cal a point in the chemicals to
help lower the industrial average
Oils were mostly lower with Kith
field down more than 1. Moto-s
moved fractionally lower. Ameri
can Home Products rose 'i ii. the
drugs, while Vick lost "t.
Steels were mixed. Lukens add
ed a point aid Youngstown t
fraction, while U.S. Steel and
Bethlehem both were down about
Miscellaneous features included
Goodyear, Goodrich, and Interna
tional Silver, all down around a
point, and U.S. Playing Cards, up
1.
Cal Phippens
Of Elgin Back
From Vacation
ELGIN (Special) Mr. and Mrs
Cal Phippen returned home Satur
day from a vacation. They visited
her son and daughter-in-law, Mr
and Mrs. Jesse Trump, of Oregon
City. They attended the Centennial
Exposition in Portland and also
picked and canned 46 quarts of
wild black berries.
Guests of Mr. and Mrs. Ivan
Churchill over the weekend includ
ed his mother, Mrs. Mae Churchill.
and his brothers Paul and Chester
of Vancouver, Washington.
Mrs. ChurchilL's mother, Mrs.
Annette Obcrt, returned to Wash
Ington with them and will visit her
son and family at Battle Ground
Mr. and Mrs. Dick Adams of
Sutherlin were weekend guests of
their parents, Mr. and Mrs. Bill
Adami, and other relatives. Their
parents returned home with them
Sunday for a visit.
Mr. and Mrs. Brigg Blumcnstein
and their son-in-law and daughter,
Mr. and Mrs. Frank Smith of
Bremerton, Washington were week
end guests of her mother, Mrs.
Stella Witty. They also atended
the wedding of her nephew, Elwyn
Bingaman to Shirley McKinnis of
Imbler, Saturday evening.
Mr. and Mrs. Mike Snyder and
daughters of Waitsburg, were
weekend guests of her parents, Mr.
and Mrs. John Gekclcr.
Mike Guliow Wins
Mike Gulznw, Roulo 2, La
Grande, placed in the red rib
bon group in the junior tractor
operator's contest at the Ore
gon State Fair in Salem last
week.
Gulzow's trip to the fair was
paid for by the Union County
Implement Dealer's Association.
SKELTON HOSPITALIZED
SANTA MONICA. Calif. (L'PH
Physicians said today that
comedian Red Skclton. 46, proba
bly will be released Monday
from St. John's Hospital where he
has been resting since he returned
last weekend from a personal tour
of Japan. Doctors said Skclton
was suffering from extreme phy
sical fatigue.
RED WRITER BANNED '
LONDON UP1 The United
States refused a visa to Frank
Gullet of the London Daily Work
er who wanted to cover Premier
Nikila Khrushchev's tour, editor
George Matthews of the Commu
nist newspaper said Thursday.
Matthews said he was advised
of the rejection by telephone from
the U. S. embassy.
PORTLAND DAIRY
PORTLAND IT1 Dairy
market:
Eggs To retailers: Grade AA
extra large, 5l-34c do : AA large,
48-5(lc; A largo, 4447c : A A me
dium, 38-40c; A A small, 26-28c,
cartons 1 3c additional.
Butter To retailers: AA and
grade A prints, 70c lb.; carton,
lc higher; B prints, c.
Cheese (medium cured) To
retailers: A grade Cheddar single
daisies, 41 -51c: processed Ameri
can cheese. 5 lb. loaf, 40-43.
PORTLAND LIVESTOCK
PORTLAND IL'PD (USDA)
Livestock:
Cattle for week 2G00: choice
steers 28 25 28 33, mixed good-
choice under 1100 lb. 28; good
26 50-27.50; standard 24-28; mixed
good-choice heifers 27-27.25; good
lots 25.50-26.50: cutter-utility 16-
21; utility cows 16-17.50; canners
cutters 12.50-14; utility bulls 22-23
Calves for week 465; vealers
strong to 1 00 higher; good-choice
vealers 27-32; cull-utility 13-22;
good choice stock calves 27-30,
common and medium 19-26.
Hogs for week 2200; late "trade
50-75c lower on butchers, mostly
00 lower on sows; 1 and 2 butch
ers 15.50-16; mixed 1, 2 and 3 lots
15-1525; heavier and lighter
weights 13-15.
Sheep for week 2900; slaughter
lambs weak to 50c lower; bulk
high-good and choice woohtl
spring lambs 19-19.50; few choice
early 20; good-choice shorn lambs
17.5018, few 18.5r-Washington
range lambs 20.50 with 60 head
at 19; ewes 2-4.50. ;
Nikita Feud
With Nixon
Continuing
WASHINGTON UP1) Soviet
Premier Nikita Khrushchev and
Vice President Richard M. Nixon
are continuing in this country the
bristling battle of words they
started in the famous Moscow
"Kitchen" debate. .
- Khrushchev said Wednesday he
would "swear on the Bible" that
Nixon was wrong when the vice
president stated in New York that
Russia's successful moon hit was
preceded by three failures.
The Soviet leader challenged
Nixon to take a similar oath on
a Bible if the vice president
thought his account of the failures
was correct.
Nixon hud no comment on 1
Khrushchev's challenge. Report
ers questioned him when he left
the Russian premier's dinner for
President Eisenhowor at the So
viet embassy Wednesday night.
Asked if he stuck by his state
ment of the failures, Nixon
grinned broadly, shook his head,
and replied, "no comment."
Khrushchev, apparently still
smarting from Nixon's barbed re
marks during their spirited de
bate in the kitchen of the model
home at the U. S. exhibit in Mos
cow, also said the vice president
had a very wrong conception" ot
the Russian people "and myself."
The Soviet premier told report
ers at a reccpt;on before his
speech at the Nutional Press
Club Wednesday that Nixon had
his misconceptions about Hussia
and its people both before and
after his recent trip to the Soviet
Union.
FRIENDLY GREETING Soviet Premier Khrushchev
seems to have said something funny as he gestures and
talks to President Eisenhower on the field at Andrews
Air Force Base, Md. Khrushchev had just arrived to
hold talks with Eisenhower and then tour the U.S.
MOORE
BUSINESS FORMS
HcGlasson's
STATIONERY
Wallowa Stock
Sale Success
For Wycoffs
By H. H. BUSHNELL
Observer Staff Writer
WALLOWA I Special ) Monday it
rained, but on Tuesday, Sept. 15,
blue showed through the clouds
and Mr. and Mrs. C. C. Wyckoff
took heart over propects for their
livestock dispersion sale. Before
noon a fair crowd gathered and
were fed by the ladies of the local
grange.
SI Williams, Pendleton, handled
the sale, assisted by Sherman
Guttridge, Western Livestock
Journal representative, and Lyle
lloyt, western representative for
the American Polled Hereford As
sociation. Jack Coleman clerked
the sale, and assisting were Mr.
Wyckoff and Jean Wyckoff, "Slim"
Bohma, Kenneth Keeler, Leo Gor
bett, Dallas Johnson , Audas
Bcchtel and Hubert Johnson.
The first offerings were 1.16
registered Hampshire sheep. FFA
and 4-H club members picked
carefully. Top ewe brought $77.50
and several rams averaged 155.
Forty - eight double registered
Polled Herefords brought livelier
bidding. Pierre Rcnouf topped the
sale with a winning $600 bid on a
good, mellow cow. Cow and calf
average was $350. Pulls averaged
$325 with Wayne Wolfe picking up
the top at $350. Bill Wolfe took
the top -heifer at $290. Wayne
Wolfe was the largest buyer, tak
ing home 1G head.
On Jun 1. 1958. 75 industrial
raw materia's in government stock
Diles. cost about $8 billion as
compared to $5.2 billion for farm
products.
Linda Elmer Wins
Fair Cook Honors
With Swiss Steak
Linda Elmer, 15, daughter of
Mr. and Mrs. Harvey Elmer.
Alice), proved to be the best jun
ior cook at the Oregon State Fair
by serving the champion swiss
steak dinner in the junior dollar
contest.
Linda s menu consisted of a
juice cocktail, swiss steak, bak
ed potatoes, sliced tomatoes,
peas and carrots, cloverleaf rolls,
currant and raspberry jelly
strawberry shortcake and coffee.
She served the meal to four
persons at a total cost of 34
tents per person or $1.35 total.
Linda has been active in 4-H
activities and has completed five
years in 411. She has worked
en projects in cookery, clothing.
food preservation, health and
livestock.
Linda received a full scholar
ship, courtesy of Safeway Stores
to the I960 summer 4 H school.
Beware Of Declining Stocks
When Ladies' Skirts Lengthen
By ELMER C. WALZER
UPI Staff Writer
NEW YORK (ITU The first
issue of the magazine Business
Week published on Sept. 7. 1929
proves to Wall Street that when
ladies skirts are lengthened
you'd better look out for bad
business and declining stocks.
Business Week in celebration
of its 30th birthday has pub
lished an exact replica of its
first edition and one of the fea
ture dispatches Is headlined
"skirts come down, tradp picks
up."
The trade pickup was expected
to come from the fact that to
make skirts five inches longer
would take 250 million more
yards of goods a year. Doubtless
that didn't pan out in the big de
pression that came soon after
that headline was written.
If you're thinking about this
year's styles, the ladies assure
this department skirts are going
to be short. That's a harbinger
of favorable business.
Evidently this discovery of
short skirts equaling prosperity;
long ones indicating a recession
or depression wasn't tried and
proved in 1929.
Early Crises
Elliott V. Bell, editor and pub
lisher of Business Week, in a
foreword In the anniversary rep
lica edition, says:
"If the publishers of Business
Week could have foreseen, in
1929, the events lying just ahead
they might well have lacked the
courage to embark on such an
uphill venture. Fortunately they
had no such fatal foresight.
"The new publication, a little
flip and perhaps naive at first,
soon found itself fighting to sur
vive in a world of economic chaos.
"In the years that followed
there was forged, I believe, an
organization a staff, a tradition,
an approach to the reporting and
analysis of news for the business
manfar better than would have
existed without the chastening of
the great depression."
If the editors didn't know what
kind of depression was ahead,
they did know that all wasn't
well even though the stock mar
ket had just set new record
highs. On the first page of the
issue, they said:
"Security speculation has eaten
nearly all its credit cake. Stock
prices are generally out of line
with safe earnings expectations,
and the ma ket is now almost
wholly 'psychological' irregular,
unsteady and properly apprehen
sive of the inevitable adjustment
that draws near."
In its first issue, Business Week
in 1929 noted that the stock mar
ket started strong after its triple
i Labor Day) holiday. Call money
then hovered around 9 per cent.
Stock exchange member borrow
ing rose to $7,881,619,000, a rise
for August of $407 million.
Secretary Mellon cut the inter
est rate on short-term U.S. gov
ernments from 54 per cent to
4' per cent.
Business men back in Septem
ber, 1929. didn't think the end of
the world had come. The first
issue of Business Week said under
the headline, "Five thousand six
hundred business men think:
"The average volume of gen
eral business in the country as
a whole during September, Octo
ber, and November will be about
6 per cent better than at the
close of August and 5 per cent
over the same period last year."
And later in the item, the
magazine concluded: "continued
high money rates particularly
for mortgage money and rural
credit are retarding business.
"The stump in building con
struction, excessive instalment
buying especially of luxuries and
automobiles and increasingly
keen competition in the retail field
because of chain store develop
ment are things to worry about."
In an editorial entitled, "Why
the Business Week?", the editors
noted:
"You will find the Business
Week always has a point of
view, and usually a strong opin
ion. Both of which it does not
hesitate to express.
"You may find a little humor
somewhere, if you look sharp.
"And all the way through, we
hope, you will discover it is pos
sible to write sanely and intel
ligently of business without being
pompous or ponderous. '
Roger Schaad
Wins Tractor ;.
Event At Fair '
Roger Schaad, 16, son of Mr.
end Mis. R. W. Schaad, Rt. 1, I.i
Grande, won the state senior
factor operator's contest at trjt
Oregon State Fair with a ocr
of 41)7 points out of i possible
5C0. .
The contest included hitching
to i stationary piece of equip-'
tnent, obstacle course, examina
tion of a used tractor and a
written examination.
Schaad exceeded his nearest
(ompetitors by some 30 points
and earned his championship
over eight other contestants from
throughout the state.
He received a full scholarship,
to the 1960 4-H summer school
for his contest efforts.
Roger's trip to the fair was
paid for by the Union County
Implement Dealer's 'Association.
OPEN SATURDAY MORNING
FOR YOUR CONVENIENCE
Paint Products. AccmorUs
Class; Builder Hardware
MILLER CABINET SHOP
Joffonon and Greenwood
Wm
Sign up on our budget plan . . . pay
for your Union Stove & Furnaca Oil
in 12 equal monthly payments! '
Quick Delivery! Clean Delivery!
Each delivery amount verified by motor ticket
LY1I1I ANDERSON, W0 34676
CONGRESSMEN VISIT ITALY
MILAN, Italy UP! Nine U.S.
congressmen arrived here from
New York Wednesday for a two-
week visit to Italy as guests of
the foreign office. The group, led
by Hep. Paul A. Fino (R-N.Y.l
included Reps. Silvio O. Conte R
Mass.), Dominick V. Daniels 'D-
N.J.). John II. Dent ID-Pa ). Ro
land V. Libonati (D-Ill.), Emijio
Q. Daddario iD-Conn., Dante B.
Fascell iD-Kla.l, HoIktI N. Gia
imo iD-Conn.i, and Alfred E. San
tangclo ID-N.Y.).
STEVENS-NESS
LEGAL FORMS
McGlasson's
1104 Adams
BOTH OF COURSEI
Actually, both picture ere of Dr. Nolet' 1 3-year eld
daughter who hat worn contact lente 16 hours
clay for the past two year. And ... the wears dark
green tinted contact lenses for swimming and skiing.
A dramatic illustration of the cosmetic A psychological
benefits to be derived from wearing contact lenses.
why net unci the WHOLE girl back to Khool?
Convenient Credit
We give jf.?f Oreen If em
COLUMBIAN OPTICAL CO.
JJ5S Main C -7124
- PENDLETON
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WO 3-3161 - La Grande Observer
'Or. Omar J. Nolt and Larry F. Crewoll