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