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About La Grande observer. (La Grande, Or.) 1959-1968 | View Entire Issue (Nov. 10, 1959)
o Stocks Scorer Gains In Irregular Market, With Rails Hardest Hit By ELMER C. WALZER UPI Staff Writer ., NEW VOHK 'ITI - Stocks stored an irregular cam during 'Hie past week with Wall Street apparently discounting an early return of the steel-workers to their jobs. The market closed Friday with a burst of strength that involved strength in railroad shares which made their best gain since Aug 2). Railroads have been hardest hit of outside industries by the Heel strike. They estimate their CHEERS for th TROPIDARA Grand Opening REFRIGERATION INSTALLATION by ARCTIC REFRIGERATION I total loss at 600 million dollars or more man tney earn' d m all ; ol last year. line witn tne normal reaction before a holiday. It as closed lor election clay and alter thai daily gains added momentum un til on Friday the industrials showed a 3.35 point rise and rails l 4 points. ' 3 Million t Day Trading again averaged more than three million shares a day out was under tne previous week sales lor tne tour iluvs totaled 13.8H3.970. a daily average of 3.47U,!KI2 shares. In the previous week five days the s.ilis totaled 19.1(14.810 shares, a dai'v average of 3.820,963 shares. At the close of the week, the Dow Jones industrial average stood at 650 92 up 4 32 points 0n the week; rail 154 10 up 040 utility 87.06 off 0 41 and 65 stocks 213 46 up 0 58. In the previous weuk the industrials had gamed 13 53 points while rails lost 2 45 points. The market is now up 34.47 points in the i.idustrial average front' the Sept. 22 low on the de- cl)ajp. That represents a recovery of 'W per cent of the 61 65 point loss from the Aug 3 high to Se. 22. Industrials have gained in nine ofrflie 10 latest sessions, while LOADS OF LjJCK TO THE New Tropidara Oil ITS Grand Opening Mel Elder All sign work done by Grande Ronde Sign Co. rails have lost in six of these sessions. Trading was somewhat uncer tain until Friday with market men awaiting the Supreme Court de cision on the constitutionality of the Taft-Hartley act. There were some negotiating sessions with federal mediators sitting in but they apparently accomplished nothing, ine decision had not come up to the close Friday but traders adjusted their commit ments to a possible early resump tion of steel npcrat'o is. Industries Curtail Operations Meantime many industries were curtailing their operation!). Lay offs in the automobile industry mounted to more than 212,000 workers. Other lines pinched in their production to stretch out waning steel supplies. Leadership of the market settled on issues which Wall Street holds inadequate for a really strong market. American Motors and Studebaker were in top place mcst of the time but turned quieter late in the week after the stock exchange cancelled stop or ders in American Motors just as it did in Studebaker not long ago There were many dividend in creases of extras in such issues as Stauffer Chemical. Maytag. American Standard. Motor I'rod ducts, and Simonds Saw. Good year. Eagle I'icher, and Adams Millis directors voted for stock splits. Copper prices firmed and this helped the metals. Alumi nums picked up late in the week. Automobile production sagged and car loadings tell off again. Coal production showed little change. Retail trade held high. Steel output ot the companies still producing showed little change but was off nearly 82 per cent from a year ago. Electricity output rose on the week and was more than five per cent higher than a year ago. Installment Credit Rises Washington reported that in stallment credit had risen to a new high and there were contra seasonal gains in manufacturers' sales and orders. Inventories de clined by $350 million in September. The most active issues were American Motors with 58,700 shares, closing at 88- 'i up 8-l points on the week; Studebaker -Packard, 508.500 shares closing at 26-4 up 2-1; Glen Alden, 368.200 shares, closing at 28-? up 3-V Lear, 216.500 shares, closing at 20-4 off 2-H; and Studebaker- Packard when issued stock, 215,- 400 shares closing at 19 up 1-V Net changes in the main list held tABMdtraie.Amowits.for the most part. Some issues managed to show wide gains and there were a few wide losses, most of them in the volatile electronics group. In the latter, Texas In struments netted 3-'i points on the week while Motorola lost 6. International Paper Cains International Paper stood out in its group with a gain of 8-x points. Goodyear netted 4-V in the tires. Smith Kline & French rose Observer, La Grande, Oie., Tues Page 5 Nov 10. 1959 1 Maui v . tk.:-& m i teii ! L?v ftC NCA Tdcpholo CHECKl'P TIME l'resiilont Kisenhwer doffs his hat a he enters Walter Ueeil Army Medical Center in Washing ton, D. C, for his annual head-to-tnp physical checkup. With the President is Gen. lonard 1). Ileaton (right) Army surgeon general. FROM THE TIGER'S LAIR La Grande FHA Installation And Initiation Rites Held Installation and initiation cere monies were held recently for La Grande High School girts en rolled in the Future llomtni.-'kers of America. The at.'air, he'd at the school, featured a banquet of stuffed pork chops, sweet potatoes, Waldorf salad, rolls, col lee and pumpkin pie. Special guests were Mrs Virgil Choate, Miss Marie Tigglebeck. Mr. and NLs. I.yle Kiggs. Mr. and Mrs. Ron Walk, Mr. and Mrs. Jack Beck. Mrs. Virg.l Morris. Mrs. Henry Ste-le, Mrs. Lloyd Walch, Mrs. John Ward, Mrs. Eva Miller, Mrs. Frank Paris and Mrs. Tomjack, honorary members. Chapter Mothers Chapter mothers present were Mrs. Don McCall, Mrs. Ken Chat- wood and Mrs. Ernest Fowler. Chapter sisters were Judy Case and Nancy Choate, with Mrs. Helen Becker, advisor, and Kriss Tomjack, state president and member of the local chapter, also in attendance. Mary Lou Roberts gave an ex planation of degree work of the chapter on the local, state and national levels. The Msa.-i aids room was the seine o iie initiation. Tlie rimm was decorated with p d and white carnations, the theme was "Hear; o. the Home," and the renin was lighted by candlelight. Kriss Tomjack insta'Ud the bil low Uig President. I) McCall; First Vice Pn-siitiiit. Carotin Fowler; K' mud Vice Presiden'. Mary l.ou Roberts: Secretary. Linda Berg; Treasurer. Janice Shaw; Reporter. Connie JYp-vn: Parliamentarian. Mary Speckhart: Historian. Alice Beery New officers were presented with white carnations, with red carnations ttmng to new members. Two honorary members, Judy Case and Nancy Choate, were intro duced. Guest speaker was Mrs. Fd Brog. who showed slides on her recent visit to the Hawaiian Is lands. Summerville Church Hosts ! Youth Groups SCM1KR II.I.i: -Special' T,u' Senior High cla-s of Summerville Baptist Church, entertained the until groups troni Cove. I'mon. and Milton-Freew iier Baptist Chur ches with a handc and chill feed recently. There were 34 present Douglas Field, the pastor at I'nion Church, gave the evening devot ional. Pastor and Mi I ester Johnson, Henry. Gloria, and David, traveled to I'nion Sunday, where Pastor Johnson siwke at the I'nion Baptist Chinch. Thei the pasor and his tanuly came to Summerville where Pastor Fields was in charge of the evening services. A Halloween party was held at the Summerville Baptist Church. Mrs. Harlan Myers was in charge ot the evening entertainment. Mrs. Emmet McLaughlin and Mrs. Edna Von Der Abe .served cider and doughnuts. Mr. and Mrs. Hafe Shaw are spending a week at Kennewick. Wash., taking care of grandchild re:i w hile their daughter and son in law , l)r and Mrs. Ed Payne, are at a reginal Baptist meeting in l ong Beach. Colli Mr. and Mrs Carl Brown and Mis. John Nelson visited several days in the home of Mrs. Earl Park of Summerville. During then visit they celebrated their 53rd anniversary by attending a Rebe kah convention. They had celebrat ed their 25 anniversary at a con vention here some years ago. 6- and other drugs gained 3 or 4 points. Du Pont and Union Carbide rose 4-''4 each in the chemicals where Dow was up 6 H. Beech Aircraft rose 6-34 to head its section. In the Oils Amerada lost 4-H while Shell gained 2-Hi. Continentl Steel gained 7- in its department where Granite City made a new high and netted 5 points. U.S. Steel lost 34 point on the week. Ford dipped while Chrysler and General Motors firmed. Polaroid gained 8 in the cameras, U.S. Playing Card. 1 in the specials and Penney 4-3 in the mercantiles. Mailmen Play 'Santa' With Christmas Checks Oregon mailmen ployed Santa Clans (or 26.510 residents last Fri day by delivering Christmas Club checks valued at S2.250U00 from the First Natic nal Bank of Ore gon, according to local branch manager Merle Becket. The amount is an all-time rec ord distribution by any Oregon bank and represents an 18 per cent increase in Christmas club Mvincs over last year. Lions Induct New Members, Put On 'Ladies Night' A Ladies Night and induction of new members featured a spe cial ceremony held by the lo ca Lions club at the Sacajawea Saturday night. The banquet, presided over by club president Harvey Carter, was also attended by Arlo Kjel land, district Lions governor. Pendleton, who gave the oath to new members. New members inducted were Dr. Richard Gingrich and Cliff Riggins. Fjelland stated that Lions III ternational is the largest civic serving organization in the world, approaching 600.01)0 members in more than 100 geographic loca tions in the free world. The evening's program was put on by Eastern Oregon College students who presented the first act of the new college play, "The Solid Gold Cadillac." Congratulations lo ELHER CARPENTER and his daughter LCU CARPENTER on the completion of their outstanding and beautiful new club and dining., room, THE Trovida ra A 1105 Adams formerly the State Theatre Building Attend the Grand Opening Tomorrow PLUMBING AND HEATING FOR THIS NEW ESTABLISHMENT BY SPAETH Plumbing & Healing Your Home Comfort Counselors La Grande Can Be Proud Of The Beautiful New Club and Dining Room - TROPIDARA to Elmer and Lou Carpenter On Its Completion Best Wishes For A Successful Grand Opening WE ARE PLEASED TO HAVE FURNISHED trijcha tche . . . (jewqia tflarble . . .Jfcfahc Rubble tcne . . . ctne Ceiling Tile FOR THIS UNUSUALLY FINE ESTABLISHMENT LA GRANDE LUMBER CO. Jefferson and Fir THE NEW fwpidaHt 1106 Adams 8 111; WEDNESDAY, NOVEMBER 11 Excellently Prepared Meals j (Parents will be pleased to know that special arrangements have been made to permit children if accompanied by parents to remain on the premises until closing time). if Private Dining Room For Banquets Club Meetings. All New, Modern Facilities Elmer & Lou Carpenter, Owners Music and Dancing Nightly BEAUTIFUL COMFORTABLE LOUNGE