Observer, La Grande, Ora., Wad., Sept. 30, 1959 Page 8
Market Quotations
PORTLAND LIVESTOCK
PORTLAND UPI iUSDAI
Livestock:
lame soo; few utility rows
11.50-Mi; cannon . cutters 10-11.50,
few 12; cutter bulls 18 21: medi
um-good "00-850 lb. feeder steers
18-21.
Calves 75; good-choice vealcrs
27-31; utility-standard vealers and
valve 19-26, culls down to 12.
Hogs 400; l and 2 butchers 185
220 lb. 15.50-16; mixed 1. 2 and 3
at 14.50-15 25; few 270 lb. 13 50;
sows 330-360 lb. at 10-11.
Sheep 500; good choice iffl II).
woole-J slaughter lambs lit;, cull
good ewes 2-5.
NEW YORK STOCKS
NEW YORK UPI Stocks
moved irregularly on moderate
activity early today.
Steel shares generally lost frac
tions. Chrysler stood out on the down
side with a loss of more than 2
points. Studcbakcr issues contin
ued active with losses of l' in
the common, in the when
issued. Ford, American Motors
and General Motors eased.
Electronics showed losses rang
ing past 2 points in Texas Instru
ments; a point or more in Litton
and General Time. Oils were
mixed. Jersey Standard lost near
ly a point; Richfield gained 1.
Trans-World Air added over a
point on a good earnings an
nouncement. Polaroid gained near
ly 2. Vick Chemical improved
close to 3 points..
New York Central featured rails
with a gain of a point.
QUOTES FROM
THE NEWS
- MIAMI, Fla. Highway patrol
man Bernard Justice who has
been receiving gifts including a
funeral wreath of roses and $80
worth of liquor from a practical
joker: i
"I think the guy must be some
kind of nut."
WASHINGTON Mrs. Morton
Sobcll requesting permission to
live with her atom-spy husband in
Atlanta Federal Prison long
enough to conceive a 'baby:
"I think it is a human and
natural request.'
WASHINGTON Bishop Fulton
J. Sheen commenting on Premier
Nikita Khrushchev's frequent ref
erences ot God during his visit
here:
"It was just a tactic ... to
make a good impression o n a
God-fearing people."'
NEW YORK Nassau (N.Y.I
County Detective Matthew Bonora
who has been swamped with or
ders for his new method of de
tecting fingerprints:
"The rcsiKMiKo is terrific and we
think it's really going lo help law
enforcement a lot."
PORTLAND DAIRY
PORTLAND lUPli Dairy
market :
Eggs To retaileis: Grade AA
extra large, 5355c doz.; AA large,
50-51c; A large. 4C-48c; AA me
dium. 40-4lc; AA small, 26 2Uc.
cartons l-3c additional.
Butter To retailers: AA and
g-ade A prints. 70c lb.; carton,
Ic higher; B prints, 68c.
Cheese 'medium cured To re
tailers: A grade Cheddar single
daisies, 41-Slc; processed Ameri
can cheese, 5-lb. loaf. 40-43c.
CASH GRAIN
CHICAGO (UPli-Cash grain:
Wheat: 2 red 1!M'4N.
Corn: 1 yellow lUVt; 2 yellow
1 18' : 2 yellow lake billing llb'i;
sample grade yellow 1I3.
Oats: 1 heavy white 704-71: 1
extra heavy white weevily 71 'i;
2 extra heavy white" 71-71 sam
ple grade heavy white 67'4.
Rye: 2 plump 140N,
Barky: Malting 11J-120X; feed
88-105N. ,. 2
Soybeans: 2 yellow 211N: track
Chicago.
WALL STREET
NEW YORK (Upi The peak
in the cost of money in the pres
ent economic cycle has not yet
been reached, says International
Statistical Bureau. -
It notes, however, that a tem
porary pause is likely in view of
the less dynamic economic trend
resulting from the steel strike.
Before the present peak has
been reached the discount rate
could rise to 4" per cent or bet
ter, the bureau points out. But it
will not prevent a further inc ease
in general business now or after
the strike, it asserts. .
Dean Witter & Co. says Douglas
Aircraft offers sound value for
longer term investment holders.
"The company is strongly fi
nanced and has maintained its
reputation as a low cost supplier
of. . .D e f e n s e and commercial
products for the air and space
age, the firm points out.
Improvement in the market ap
pears reasonable in all three fac
tors the Khrushchev visit, tight
money and the steel strike re-
ga'ded as chiefly responsible for
the eight week 9 per cent decline
in the Dow Jones .Industrial aver
age, says Barrons. ...
The Fitch Survey recommends
Alleghany Corp. for speculative
possibilities since its asset value
is considerably in excess of the
market price. ,
w ;
i
3" - '' Tip ' -.
) ; . t;w 4 i hJ&'
HI TahkH
MELON INSPECTOR As U. S. Ambassador to the UN,
Henry Cabot Lodge (left), tries to keep from being shoved
away, Soviet Premier Nikita Khrushchev examines a
cantaloupe during his surprise visit to a supermarket in
San Francisco, Calif.
Nurses Convention
Underway In Bend
BEND (Special) Nurses from
all parts of Oregon are here to
day for the opening of the Oregon
Nurses Association convention.
The annual meeting will continue
through Thursday.
Attending the session are re
presentatives from all of Ore
gon's 22 districts including Dis
trict 13 of La Grande.
Expanding Frontiers In Nursing
is the theme of the confab, to be
addressed by Sen. Richard L.
Neuberger on the subject, "Wider
Horizons Ahead of Us."
Dow-Jones No Index
For Market Buyers
By ELMER C. WALZER
UPI Stiff Writer
NEW YORK IL'PD Wall
Street, always eager to know
what stocks the experts buy, has
discovered they do not concen
trate on the Dow-Jones indus
trials.
This was brought out in a sur
vey by Capital Gains Research
Bureau of Larchmont, N.Y. in a
survey dated July 31st and Just
released.
Capital Gains concluded that a
more accurate and dejcndable
average for measuring the gen
eral market and the performance
of the mutual funds is the Stand
ard & Poor's 500 stock index.
Of the 200 mutual funds ann
closed-end investment companies
operating today with combined
assets of $18.5 bil'ion, only 71 have
assets of more than $50,000,000.
These 71 with assets of 114.834,
200,000 represent 90 per cent of
the industry.
Capital Gains Research took
these 71 and examined their port
folios to determine their invest
ment in the 30 issues in the
Dow-Jones industrial average,
stocks considered the cream of
the market.
As of July 31st, these 30 stocks
had a total of 1.419,378, 3au shares
outstanding. They had a market
value of $111,180,472,612.
The 71 funds used in the study
,had a total of 15.69 per cent of
their total assets in these issues.
THIN MAN SOUGHT
SEAFORD. England t UPI Po
lice today were looking for a thin
man who wiggled through steel
bars only eight inches apart and
took $42 and a quantity of ciga
rettes from the local post office
Monday.
This amounted to only 1.95 per
cent of the shares outstanding in
the group and 2 09 per cent of
their market value.
U.S. StMl Ranks First
From the standpoint of dollars
invested in the 30 issues, U.S.
Steel ranked first with 43 funds
owning 2.21)2,400 shares valued at
$236,600,300.
Texaco was in second place
with 48 funds owning 2,444,570
shares valued at $210,538.5!)1.
Gotdycar Tire came third with
33 finds owning 1,035,535 valued
at. $135,143,842.
Standard Oil (N.J.l was fourth:
Du Pont, fifth: International
Paper, sixth; General Motors,
seventh; Bethlehem Steel, eighth;
General Electric, ninth, and
Standard Oil of California, tenth.
Of the group, General Motors
has the greatest number of shares
outstanding. Its 280,910.398 shares
on July 31 were valued at
$15,906,551,287.
Dollar-wise, however, American
Telephone & Telegraph, ranks in
top place in the average group
with 213,308,860 shares worth
$17,016,478,942.
Swifr Latest Addition
Swift k Co., latest addition to
the group, is the "baby" with
5.95.709 shares worth $273,732,614.
The survey showed that among
America's 71 largest funds, only
six owned Procter St Gamble;
three own Swift; eight own Wool
worth; nine own General Foods
and American Can. and only 12
own American Tobacco and
Chrysler. .
At the top, 48 hold Texaco: 43
Standard Oil IN.J.) and U.S.
Steel: and 42 hold General Mot
ors and Du Pont.
The survey points out that of
the 30 stocks in the group, only
seven or about 23 per cent-rare
held by more than half of the 71
mutual funds and closed-end in
vestment companies which ac
count for 90 per cent of the en
tire industry.
Of the 30 issues, the 71 hinds
own 27,637.367 shares of the out
standing 1.419,378.390 shares.
Their value is $2,328,200,903, out
of the Mai $111,180,472,612 for the,
whole group. ,
The tabulation shows but doc
not record it (hut the Dow-Jones
group has total sha es of more;
than one quarter of the total for
the entire stock exchange and the
market value of the group ii
more than one-third of the entire
-big board'' list.
THREE 1960
FORD PICKUPS
FREE!
haded with valuable prizes!,
i
ffl. v7 .McCulloclfT
-CONnSSTS.
Grand priies: Three 1960 Ford 4-wheel drive pickups
loaded down with a 72 hp. Scott outboard motor
McCulloch chain saw. transistor radio shotgun, filing
gear, camping equipment, sporting goods, patio furrutura
and many more valuable prizes.
Second prizes: 50 McCulloch Chain Saws
ThirH orizes:
100 Motorola Transistor Radios
&
VCl twining j
CPXr No jingies to Write!
COME IN AND GET YOUR ENTRY BLANK.
EO V. FIELDS
Authorized McCulloch Sales & Service
Fir St.
WO 3-5609
POLICE SEEK BLONDE
LONDON UPI) Police May
sought a 16 year old blonde girl
believed to he leader of a group
of Jewish youths who have been
terrorizing Jewish club dances in
northwest Lo-.don. The group's
latest attack was on a synagogue
dance Saturday. The boys be
lieved to be led by the girl were
described as "well-dressed with
pointed shoes. Italian style suits
and with their initials embroi
dered on their pockets."
Three Marriage
Licenses Issued
At Clerk's Office
Three marriage licenses have
been issued since Sept. 23 from the
Union County clerk s office.
Th-y were te Larry Thompson.
1912 Oak St.. La Grande and
Glenda Wilde, Summcrvillc;
Charles A. Meyers Jr., Rt. 1, La
Grande, and Vclva Jean Riding.
2717 Spruce St., La Grande; and
Carl E. Lester, Box 321, La Grande,
and Gladys Ellen Huff, 1407 X
Ave., La Grande.
Elgin Students
Given TB Tests
ELGIN (Special) Two-hundred
twenty high school and sev
enth and eighth grade students
were tested Monday at the school
house for tubercilosis. The skin
tests were read Thursday.
Those working for the Union
County Tuberculosis and Health
Association were Mrs. Lois Jean
Knapp, Mrs. Kate Sutton, and
Mrs. Rose Marie Stroebcr.
There were a few absentees who
will be tested later.
Union, Wallowa
Duo On Council
SALEM (Special) J. H. Tip
pelt. Enterprise, and Jack Wil
son, North Powder, were named
by Gov. Mark O. Hatfield to the
Oregon Beef Council.
Hatfield made 23 appointments
tcday to various advisory board
and commissions Including the
beef group.
Today Last Day To
Escape Gat Tax Hike
WASHINGTON tUPP-Todny Is
the last chance for the nation's
motorists to fill P their tanks
and escape an additional penny-a-gallon
federal tax on gasoline
starting at midnight.
Virtually all dealers were ex
pected to pass the tax increase
am tn i hir 4nijrf(imers.
The increase was enacted by
Congress to help keep we inter
state highway program on sched
ule. The one-cent increase now
brings the total federal tax to
four rent a f.nllon.
FREE FREE! FREE!
scim shcaoo
mm mm mm
to
in
FROZEN FOODS
with your purchase o! a new
FREEZER
ADMIRAL
at
La Grande
Furniture Warehouse
EAST ADAMS AVENUE
Come Li And See Our Brand New
Appliance Line!
f
Coming Your
RIGHT HITO YOUR LIVING ROOM VIA
'TELEVISION COAXIAL CABLE
Way!
AN EASTERN OREGON
TV HOOK-UP
A
NEW
GREAT
SEASON
ol
ENTERTAINMENT
There's a great array of sporting and entertainment
events in store for you on your TV screen in the weeks
and months ahead . . . rhe World Series . , . college and
professional football . . ', tlie new fall western shows
. . . boxing . . . musical extravaganzas . . . world famed
artists . . . live telecasts . . . professional and college
basketball and a wide variety of other sporting, news
and entertainment events. You're right there, living
every moment, when you view these lively events and
shows on your TV screen in the comfort of your own
home! Plan to be a part of the Big Show . . . arrange
soon for a TV cable hook-up.
lmv
Don't Miss Out On These Exciting Sporting Events
and Entertainment Features
ARRANGE FOR YOUR TV CABLE HOOK-UP NOW!
A Friendly Tip To Yon
From Us . . .
Why don't you arrange to use one of our
recently issued 1100 Old Timers Certificates
in the La Grande and Union areas? The
certificate, issued to each of our early day
TV cable customers, is good for a TV cable
installation. We honor each Certificate
when countersigned by the Old Timer to
w hom issued.
The finest programs of three national TV chains
are available lo yon on Eastern Oregon Television Cable
PLACE YOUR INSTALLATION ORDER WITH US SOON!
Inc.
st st w ai w
LA GRANDE WO 3-3631
Eastern Oregon Television,
1310 Jefferson