Babson 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