The Oregon statesman. (Salem, Or.) 1916-1980, January 21, 1955, Image 35

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The Oregon statesman., January 21, 1955, Page 35, Image 35

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Newspaper Page TextBabson Reports Local In vestments Frequen ily Prove Best Babson Says - i By ROGER W. BABSON BABSON PARK. Mass Most readers of my column look at ttoeso??omffl to which to invest It never ; occursto them rt ... i i unafdiMiitf muifr thpir own noses. xnai mere m-y d " i vir -V. iney warn 10 idtoi n - send their money to Wall Streets. . with the nrtntioB of your local bank and certain chain stores, the telephone coBpany which perates la your territory is probably your best luvestmeBt, considering safety, in come, and possibility for growth. The purpose f this column today is to praise the entire telephone Industry, which is one Of us iasiew Mull. mt all inKlMM. - ' If yoa live in Bell territory, then purchase stock of your local Bell company or of the big American Telephone and Telegraph Company. Ssr w. BkM This latter supplies the entire nation Bell ana Independents with "long-distance" service. If you do not uve in Bell territory, then consider the stock of your Impendent telephone system, provided it is one of the 373 which report . annually to the u!s Independent Telephone Association at Mun sey Building, Washington, D.C MORE THAN 5001 "INDEPENDENTS ; With the exception of the big General Telephone Company, which is the largest "Independent,- most of these 373 Indepen t dents are locally owned 155 have annual gross earnings of over : $250,000; while 101 of these have gross of less than 3100,000, ( but nearly all of them show constant growth. . . 1. Moreover, each has a Monopoly which Tery few ' bd I fcave. Their total exchanges number 4,884, with over S,000,00 v telephones, and 100,000 employees. Let me add that there are 4,850 other little telephone eom i panies in addition to the 373 which I recommend above, plus , 60,000 mutually-owned farmers' lines. Altogether the Indepen-. dents have over $1,500,000,000 invested. wiA toUl annual gross : of about $500,000,000, or 10 percent of what the Bell System nas. ; . .' - . - - -r - v.. STOCKHOLDERS TOO OFTEN MOVE AWAY When you move from one house to another and especially from one city to another, be sure to write the company in which you hold any stock of 'your new address. Dont ever look at a valueless" certificate and say it is not worth a 3-cent postage stamp and the time required for. writing such a letter. After r too many changes of address, your envelope comes back marked s "unknown" and the company marks you "dead. ,, i One of the companies in which my family has very large holdings (United Stores Common, selling on -the American Stock Exchange for $3 to $4) has nearly 100 such stockholders who cannot be located. Perhaps you are one of these stockhold ers. There probably are hundreds of other companies just like United Stores. This stock could easily double or treble in value. NEVER SELL DEFAULTED BONDS When a stock stops paying dividends the price of the stock - may gradually decline, but no one gets panicky. The stock holders hope for a resumption of dividends. When, however, a bond defaults especially a foreign bond most bondholders think this is the end. The price of the bond then suddenly drops from around par to fifty cents on the dollar. ; Discouraged bondholders have rushed to sell their bonds and the price has dropped to twenty or even less. But, in the course of years, many of these bonds returned in value to $1,000. Some of the hotels in the famous Sheraton Chain were built in the gay nineties The bonds were sold for $1,000 each. Then they defaulted and kicked about at perhaps $200 for years. Finally, one of- Boston's most courageous financiers, Ernest , Henderson, had faith in the hotel business and bought-up these bonds. They have since been paid off at par. ; WHAT YOU SHOULD DO ABOUT STOCKS Before selling any "worthless stock" or defaulted bond, you can send $2.00 to the Information Center at New Boston, New Hampshire. This gives no investment advice but has lists pf . 40,000 such stocks and will pass along to you what report it has on file. This is a non-profit educational association to help i deserving people on business problems. The $2.00 will, cover a ' full year's inquiry. In other words, you can write again about , the same stock or bond anytime within 12 months without fur ther cost to you. , - . ' L- ' Moore Firms Are Headed By EMERYVILLE, Calif. Thomas S. Duncanson has been elected president. of Moore Business Forms, Ine and of the parent company, Moore Corporation, Lim ited, it was announced at the cor poration's head office here. W. Norman McLeod, former president, has been elected chair man of the board of directors. Moore Business Forms, Inc. pi oneer of the business forms in dustry, has Pacific Division plants at Los Angeles; Salem, Ore, and Emeryville. Founded in 1882, the organization now operates 22 plants from coast to coast and throughout Canada. Sales offices are located in more than 300 ci ties;: , VI ,: , - "t BUTTUTA1 Premium No 1 BUTTXn Wbolesala Retail COGS Bvytag (Wholesale prleaa nag from to 1 cents ever fcurtag prtec) Lar.e AA ", i . .... . Medium AA : Portland Produce New York' Stock Markets "v; ;- By THE ASSOCIATED PRESS Admiral Corporation Allied Chemical Allis Chalmers Aluminum Co. America American Airlines American Motors American TeL k Tel. American Tobacco : f- Anaconda Copper Atchison Railroad Bethlehem Steel ; Boeing Airplane Co. ; Burroughs Adding Mach. Canadian Pacific . Caterpillar Tractor . Celanese Corporation . Chrysler Corporation " -. Cities Service Consolidated Edison Crown Zellerbach Curtiss Wright Douglas Aircraft du Pont de Nemours Eastman Kodak ' ' Emerson Radio , Genral Electric ; General Foods General Motors Georgia Pac. Plywood ' Goodyear Tire. . Homestake Mining Co. International Harvester International Paper 28 Johns Manvffle 93 72 87 21 12 174 66 48 123. 105 72 24 29 84 24 67 119 46 58 17 y4 127 139 69 14 49 73 ; 95 26 103 45 37 84 Investment Trusts (ZIUm. Stnither St Qo Inc.) Bid . 8.T4 .15.23 Affiliated fund Canadian Fund Century Shares Trust 13.60 Chemical Fund ,,,, 25.99 Delaware fund - 20.33 Diver. Investi-Tund . S.71 Dividend Shares . 2.S3 Easton St H. BaL rund 19.12 Gas. Ind. 24.1S Croup Tobacco 4.02 Incorp. Investors , Key. Cust funds: B-3 B-4 K-l: S-2 S-4 -. Man.' Bond Fund Mass. Invest Trust MatL Sec Series: Income Series stock Series .19.54 .1134 .19. a lliS I .B2 - 1.38 32 Pref. Stock Series Special Series TeL-Elec. Fund value Line Inc. Fund S.7S Wellington Fund ?4 n S.98 t.41 IM 4J8 J0.45 Asked S.21 1S.48 . 25.51 28.10 ' 2X57 935 - 2.56 20.50 28.39 4.42 1SJ0 21.25 1239 21.25 12.29 9.74 9.18 29.54 S.51 a i 9J1 4.79 11.39 S.32 26.40 Kaiser Aluminum Kennecott Copper Libby. McNeill Lockheed Aircraft Loew's Incorporated Long Bell A. Montgomery Ward New York Central Northern Pacific Pacific American Fish Pacific Gas 8c Electric Penney (J.C) Co. Pennsylvania R.R. Pepsi Cola Co. Philco Radio Radio Corporation Rayonier Incorp. Republic Steel Reynolds Metals Richfield Oil Safeway Stores Inc. Scott Paper Co. Sears 'Roebuck Co. Socony-Vacuum Oil Standard Oil Calif. Standard Oil N.J. Studebaker Packard Sunshine Mining Swift ft Company Transamerica Corp. Twentieth Century Fox Union . Oil Company Union Pacific United Airlines United Aircraft United Corporation United States Plywood United States Steel Western Union TeL Westinghouse Airbrake Westingbouse Electric Woolworth Company. 88 59 101 15 51 19 '30 81 33 . 66 11 45 85 23 18 37 39 62 78 111 68 47 58 75 51 75 107 13 11 47 38 29 54 142 35 77 6 38 70 77 28 78 51 PORTLAND (8i Butterfat - Tentative, subject to immediate J .hange Premium quality delivered in Portland. 58-61 lb; first quality, 56-59; second quality, 54-57. Butter Wholesale fob bulk cubes,, to wholesalers Grade AA. 93 score. 58; 92 score, 57; B grade, 90 score, 56; 89 store, 55. Cheese To wholesalers Oregon singles, 38 -41 lb; Oregon 5-lb loaf 41-44. ' , Eggs To wholesalers Candled f.o.b. Portland, A large. 42 ViAi ; A medium, 40-4l. Eggs To retailers Grade AA. large. 48-49; A large, 4546; AA medium, 44-45; A medium. 42-43: A small, 36-37. Cartons, 1-3 cents axWiuonaL , Poultry and Nuts ' Live chickens No. 1 oualitv. i.o.d. roruand rryers. 2 -4 lbs, 23-24; at farm, 22-23; roasters, 4 lbs and up. 23-24; at farm. 22-23; light hens, 11; heavy hens, 14; old roosters, 10. AaoDiis Average to erowers Live white, 3 -4 lbs, 18-20; 5-6 ms, : 14-16; old does. 8-10, few higher. Fresh dressed fryers i to retailers, 54-57; cut up. 60-63. Filberts Wholesale selling price f.o.b. Oregon plants. No. 1 jumbo, 26-28 lb; large, 24-26- medium. 22 -24; to growers, on field run basis, f.o.b. plant, 14-15; best Barceionas to 16. Walnuts Wholesale selling mice. f.o.b. Oregon plants Frist quality jumbos, 32-33; large, 29-30-; mediums, 26-27; second quality, 3 per pound less: to growers, f.o.b plant, tree run basis, 15-16 lb 90 per cent crack test- : Wholesale Dressed Meats Beef carcasses Steers, choice 500-700 lbs. 39.0O-42.O0; good. 35.00- 39.00; commercial, 32.00-36.00; util ity. 28.00-33.00; commercial cows 25.00-31.00; utility, 23.0-28.00; can- ners-cutters, 21.00-23 00. Beef cuts (choice steers) Hind quarters, 50.00-54.00; rounds. 43.00- 49.00; full loins, trimmed, 70.00- 73.00; foreqaarters, 32.00 35.00; CnUCKS, 33.00-37.00; ribS, 52.00-58.00, Pork cuts Loins, choice. 8-12 lb. 4.00-49.00; shoulders. 15 lb. 30.00 35.00;, spareribs, 42.00-49.00; fresh hams. 10-14 lb. 49.00-53.00. Veal and calves Good-choice all 31.0-42.00. - Lambs Choice-prime under 50 lb 39.00-42.00; good, all weights. 96.00- 40.00. Wool ATI prices nominal ' I Catiatry - dressed Meats. f..b. Portlaad: Beef-Cows, utility, 20-24 &; canners-cutters, 17-19. Veat-Top quality, lightweight, 31-33; rough heavies. 20-28. ; Hogs Lean blockers, 27-28; sows, light, 23-24. Lambs Best, 32-34. i Mutton Best, ; 12-24; cuH-utility. lfltlL 1 ' Fresh Predace Onions 50 lb Ore.-Wash. yellows, med No. Is, L90-2.25; fair 1.50; 3-in min, 2.25-50; Ore. Spanish, Ige, 2.25-50; Idaho yeDows, med. L75 2.00. . . : . Potatoes Ore. Russets. 100 lh. No. 1A, 3.50-60. few down to 3.25; a ox mm, 4.00-50; bales. 5-10 lb, 2.15-25; No. 2A, 50 lb. 1.10-15: 10 lb mesh. 35-40; Idaho bales, 5-10 lb, 2.40-50; 100 lb. 4.00-25. Hay U. S. No. 2 ereen alfalfa. baled, f.o.b. Portland, 35.00 a ton trucked; 37.00 rail. Salom Markot Quotations . (As at late yseterday) M .71 Medium A . Small - .38 35 - 35 .32 JX Colored Hens - Leshorn Hens Colored Fryers Colored Roasters Old Roosters ,34 .11 J 33 31 Stocks and Bonds (Cosaaned ky the Associated Fress) STOCK AVXRAOtS " (:-. 30 . IS IS ft tadst Rafls CU1 Stocks Net chanf .A. 4 D.S a.S - - A3 Thursday 206J 116.6 6S.3 151.1 Prev. day 2059 117.4 67.7 150.9 Week ago 209.2 119.4 67.9 153.1 Month ago JB 122.3 67.3 153.4 BONO AVEJtAGES 2 19 19 19 ' . SUUs ladut CU1 Fsm Year ago 149.2 81. S 56.4 1HJ Net chance D.l A.l Unch Unch Thursday 99.S 99.S . 99.0 - 84.5 mv. day 99.6 . 99.3 99.0 S4.5 Week ago 99.5 ' 99.6 99 J S4.3 Month ago .99.5 99.7 99 J ;- S4.7 Year ago 95.1 98 J 88.1 81.2 Onion Futures Drop Sharply CHICAGO UP) Onion fufures dropped 18 to 21 cents a 50 pound sack on the Chicago Mercantile Exchange Thursday in the heav iest dealings in this commodity since trading Started in 1942. Brokers said tell ins; was touched off by an Agriculture De partment report placing risible supplies of onions on Jan. 1 at 9,974.000 sacks, which was 600.000 more than trade estimates. Janu ary onions closed at 81.38 a 50 pound sack. ' ' : .' s '' Stock Market Rises Again NEW YORK W The stock market made its third straight ad vance Thursday, but the showing was not very convincing. The Associated Press average of 60 stocks ' advanced 20 cents at $151.10. The total rise for the psst three days has been' $2.30 as com pared with fall of $3.50 on Mon day. .- I - , The average ndw stands at $151.10. That is $5.30 under the 1955 peak on the first trading day of the year. The all-time high was $157.70 on Sept. 3, 1929. The industrial component of the average advanced 3D cents and Statesman, Salem, Oregon, Friday, Jan. 21, 1955-Sec 4)-3 Russians Free Pvt. Verdihe After 6 Years BERLIN (UP) The 1 Rus sians Thursday freed American Pvt. William A. Verdines : after nearly six years of imprisonment ; The 28-year-old - soldier i from Corn Prices Advance Cent 1 CHICAGO ) Placement of an embargo on corn exports by-Argentina created a .demand for the yellow grain on - the Board of Trade Thursday. . Corn advanced around a cent and oats were up in sympathy with corn. ' Wheat finished lower to H higher, corn .Vs to 1 cent higher, oats -T higher, rye M lower to H higher, soybeans 1 Vx-9 lower and lard unchanged to 45 cents a hundred pounds lower. ' v h f utilities were up 60 cents while the railroads lost 80 cents. j -' There were only 1,212 individual issues traded, lowest since Armis tice Day. with 525 advancing and 441 declining. There were 41 new highs and no new lows for 1954-55. Volume came to 2.210.000 shares, lowest since Nov. 1 of last: year when it was 1,790,000 shares. The total Wednesday was 2,760,000 shares. Starks, La, was turned over to American authorities in Berlin and he was rushed to the Army hospital for a thorough" physical examination. F k T v Aa Army announcement said Vexdine "will remain under mili tary restriction while the circum stances under which he . became absent without leave are thor oughly lnvestigatedJ .... ; s, . . Verdine disappeared from his unit in West Germany Feb. 3, 1949, and he was listed as absent without leave, . , v . .: ; An Army spokesman said he will be under guard at the hos pitaL - m'- : h i,i The Russians freed two other Americans Jan. 8. .They were John H. Noble, 31, a civilian from Detroit, and William T. Varchuk, 38, Army private from Norris town, Pa. .. -i. ..-'. Noble has said he saw Verdine shortly, before , bis own release f. Onion Futures CHICAGO (A Onions: Ope High Low Close Jan. 10 1J3 1.17 1.19 Feb. , i 11 1 J8 1.17 1M Mar, 1.40 1.44 1.30, 1.39 Nov.' ' ... 1.61 1.61 1.61 '1.61 Sales: Jan. 117; Feb. 783; Mar. 1,810; Nov. 7. and that Verdine did not look welL ' " Verdine was ; honorably dis charged from the Army in Seoul, Korea, Feb. 14, 1948. Be enlist ed in the regular Army the next day. .." -: ' He was discharged again in -June, 1947, and re-enlisted two months later at Fort Sam Hous ton, Texas. . - - NEBRASKA FARMERS LINCOLN, Neb (UP) Kris Kristjanson, agricultural econom ics professor at the JJniversity of Nebraska, said 18 per cent of Ne braska's farmers- have a net in come of less than $1,000 and 34 per cent have a net income of less than $3,000. ' . RUSS PRATT AAYFLOIVGR j MOVING A STORAGE CO. ' CArlTAl CITY TtANSFEt COMFANT 230 S. Front $t SA1IM. OIL fosy r Sundays and Nights Phooe 4-147$, 2-3283, 3-8351 Trade-in Allowance On Each Pair Of 3 3 Portland Grain PORTLAND un Coarse grains. 15-day shipment, bulk, coast deliv ery: Oats No. 2, 38 lb white 53.00. Barley No. 2. 45 lb B. W. 54.00, Corn No. 2, E. Y. shipment 67.00. Wheat (bid) to arrive market. basis No. 1 bulk, delivered coast: Soft White 135: Soft White (ex cluding Rex) 2.35; White Club 2.35. Hard Red Wintei. 11 per cent L37: 12 per cent 146, .Car receipts: wheat 80; barley 6; flour 8; corn I; null feed 3. careful Baivsis WITH FAstMXSS " ' ' ) ) AUTO TSUCX IfKSi :-, oho i:;ju?j-:ce AC-nr . ) Phone SeSl . 1 14SS N. Car!t&I SL (( BetweeiCiOodjaB Portland Livestock PORTLAND (IWOJSDAUCattle salable 250; market slow, mostly steady but some feed cows again wear to so lower and some unsold: truck lots high good 1.163 lb fed steers 22.75, low gooJ steers down to 21.00. utility 13.00-17.50: bad gooc and choice fed heifers 21.00: few canner and cutter cows 7.50- 9.00, utility 10.00-12.00. load high commercial young fed beef cows 17X0; few utility and commercial DUUS 13.50-16.00. Calves salable 25: market nom inally steady; good and ; choice vealers salable 20.00-25.00. Hoes salable 850. includes 11 deck not yet shown; scattered sales about steady; few choice No. 1-2 butcher 180-233 lb 20.00-20.50, some bids around 50 lower; sows scarce. '-: - , Sheep salable 100; one lot choice prune 107 lb fed wooled lambs fully steady at 19.50; good-cnoice feeders salable 15.00-17.50; good- choice ewes quotable 5-50-CJ50. Nst5Il3Jl r- rAsSxTlX I and i , w VL jtS ' 18-montK 'notionwide service cord guorontet 1 Xit;v' -r ' ,V 1 VCut-SWd" treod for greoter grip on the rood v , ? " - 4v , V Bonded -rayon cord body; strong,! cool running ; Y "'- tough Xi41f k ; NaHon-Wide ALLSTATE Service Cord Guarantee Against These 1 j And All Other Road Hazards for Specified Number of Months! I li X i f : smasp ioa bsoken boxq ties -kk' i--------------K ' ' ' " j ! v. NoTrade-In Trade-in 1 Down ;";k uw 1 Uw Y t(w SIZE Price Each Price 2 Tires, Payment Vyr' j ) r" I V K PlusTax PlusTax jzTires i0 ' h -y -S vJ! 6,70x15 31.50 , j 3.40 l MUQI BSCKEX ' JAGGED ' KAXHOU WSEAX9 . . ;j BSAKCXES BOTTLES atBS - COYEKS; THCAXS 7.10x15 22.95 35.90 j 3.85 I ' ' ' . V .' ' ' . 2 7.60 ,u 24.95 39.50 4.30 " ' T' C - ' .... T - - ; f L" t "1 ) ? 8.00 x is 27.75 45.50 1 4.80 II II 7 A i'l-.L H) : 1'.' " , I 1' fm, - 6m : iM i i Special for Friday and . Saturday Only . COf.ir.lERCIAL CHOCOLATES . ,35 c ni.' v 3 $1.00 . Case lots - SCIIAEFER'S DRUG STORE Open dally, 7:38 ajn. to t pun. Suadays, a. m. to 4 p. m. 133 NORTH COSIMEllCIAL You Get All These Benefits When You Buy ALLSTATE Tires Tire life-time guarantee against all defects in materials and work manship. Policy guarantee of, "Satisfac tion guaranteed or your money bock." LibereL trade-in your old tires. 1 allowances on Rub-resistant sidewoll finish. Low prices through Sears straight - line. Factory to Sears to you dis-' tribution. Triple tested quality and per . formance: in factory test fleet and in the testing laboratory. Fully. Re-Treaded, Sidewoll to Sidewoll vEechrAsLovAi C?e z 15 Pins Tax AND RECAPPABLE TIRE Similar money-saying prices on other sizes 12-month , nation-wide senrice card guarantee Sidewallt carefully inspected for durability X-41 ' Cold ' Rubber, extra ; mileage For Real Economy.. .Buy Lew-Priced BQDSAE)EB Each, As Low As (o)00 J UlxlS . Pros Tax AND OLD TIKE Similar money-soring prices on other sizes o 12-month nation-wide senrice card guarantee Strong, cool running bonded' rayon cord Extra tough X-41 Cold Rubber, extra mileage J ft 1 mMm aw-.--s-- - 'ii- , i 550N.CapitoI-3-9191