Image provided by: University of Oregon Libraries; Eugene, OR
About The Oregon statesman. (Salem, Or.) 1916-1980 | View Entire Issue (Nov. 30, 1956)
New York ClosihgStpcks St.porue ky Marrm Lynch. Piarca Fannar and Baana ? Admlnl Corp Al Chtm 4c by . Allld tr. A Hi Cham Aire Aluminum 144 Am Airline Am Can . Am Cyaa . , Am Motor , , Am ttl TAr Am T T Am Tobacraj Am Vlarnaar . Anae Coopar mM.t Arm .... Armour . :...,..., Atcneson Top Acv r . ..k ''''.' B Btndlic Avla ;.-.. Bnt food .... Bath ' 811 - Baaing Air t-s... Bordrn t, Borj Warn . Bucyrus . .. Burro Adding C Calif Pick ....... Campb goup Can Pac Ry Can- J I . C'atarp Trac ftlanea : , a Calotex . Orulntard ,, Chaa tilt O Ry ..... Chi M At St P , Chi NW Hv w Chi R la Ky Chrysler Cltla Sarv Climax Moly . Cluttt Pe Cora Cola Colat -, , Com Credit , Comw Ediaon Cona Ediaon :nUinr . Cont Caa Cont Oil Cran Co Crown Zell Curtias Wr D Daar aVCo , Dia Match -Doug Air Dow Cham , Da T da N B Fast Air IJ East Kodak El Paao Ca F.mar Radio Eh Callo . Ms . !' . .Ills 12'. . ), . ' . . 42", 1M', . . S2's . 71 . M . 2". .. v, '. K ' vir, . M'i . M . 44 .'47"t . 37 it "41 . .15'. . 3(H4 . 12'. . M'l . n; . Si', . Wt . 6S . " . 13 . 39 . 7 . 7 . 2. .. 43, 100', . 41 .. 4li , 40 44, 19'. ,, m . 3.1 Sl. . 47 . s . 31 . S.I', . 7 'U . 44 , l . M . . S3 FairrhiM' nintkota , Ford, Motor Co, O Oao Dynamic Gan Ealc Can Food Can. Motor Can, Tlr . Gao Pa Ply Gllletta . Glldrtaa Goodrlch- Goodyaar Grac WR Grt No R. Grt Waal Sua . Greyhound .,... vuii on . . HomawUka M M Int Barvcat Int N'lrkeL ' '. tnt Paper - Jnhna Mana Jonca aMStl. K . Kalsrr Alum Kennecott Kern Ijind L iLlhby MrN 1 Llajaj Myera ILOF Gla Lockheed Air Loew'a Inc ,.'., Lor II lard ... M Magnavox .... Marah Field Merck x Co. Mont Cham Mont Ward . Motorola .. N Natl Blarurt Natl Caah Rag NaU Dairy Natl Distill Natl Gypium .. Natl Lead NaO Supply . NY Central No Am Avia ? No Pac Ry NW AIrllnea O Olln Math Otia Xlar P' Pabeo . Pae O A El Pac TIT Pan Am Air Penney J C ........ Penn Ry Pepal Cola Phelpe - Doda 11 , u , M , 44 42 4 , H , 41 M A TJ 1.1 42 21 . 14'S--.100 .. S2 I la .1001, - 4.T - MTa 41 .122 , 44 - 11 .. 2 ., 7 .. B2 - 1 . 1 . 31 - 35 - S . 34 . 39 , - 3 . II -.3(1 , 24 . 3 ..in , i . 3.T, . 3S - 37 -0 4, . 41 . .. 4 124 .. 17 . .. 21 l 4 Phllco Cor rnu Morna Phil Patrol piuabury Proe At Clam Pug Id P U . Pur OU S Radl Corp Rayonier la Repuh Stl Reynolda Mat Reynold Top Richfield O ... Royal Dutch - 4H . "4 . ? v . 0", . 2 . a . M Safeway Stra . S.14 St Jo Lead JZ M St L ac SP Ry ,.. IS St Reaia Paper 4.1 Sehenley Ind U Scott Paper 88 Seara Ro , M Shell Oil L. i.1 Sinclair OU Skelly Oil J) Soeony Mob 1 Sou Cal Bdl 4SJ Sou Pae Ry 4 Sou Ry . ' ;, , , 43 S perry Rang , , , . t2 81 d Branda 17 Std Oil Cal 44 Std Oil Ind doll Std OU NJ SI) Stude . Pack 7 sunray on ia, Sunahine M 7 Swift i Co 41 Sylvanla 1 47 ' ., -, T V . Texaa Co ..... 85 Texaa Gulf 2 Textron 21 Tide Aaao 31 Tranaam 37 Trent Do Atr 17 Twen Caa ros ..... 23 U Union Carta 10S Union Oil . M Union Pae Ry v Mi, Unt Aircraft i2 Unl Air Unea ...... 3 Unl Corp . 'i Uni FTult 45 US Plywood 33. US Rubber . 43 US 8teal Ml, Warner Ptc Waah Water P Witt Air Br , Weetarn Air ....... Weatern Flee ., Weatern Union Woolworth Z 7.nlth M ... 27 ... 82 .... 1 1 1n4 Babson Reports: Mideast Struggle n i i i To Bring Inflation Copyright 185 Publiahera Financial Bureau. Incorporated BABSON DISCt'SSES TBE MIDDLE EAST AND PKOSPECTS FOR WAR , By ROGER W. BABSON . ' BABSON PARK, Mas., Nor. srel will withdraw from the Middle East situation. She has been warned that if there is a real war, she will probably be wiped out. If there is real trouble, it will be between Egypt, supported by Russia, and England, supported by Prance. Franco has probably lost the Arab countries. So it would be t.gypt. supplied by munitions and airplanes and Iso-callcd ' volunteers'" from Russia, against England, backed by France. HOW PRESIDENT EISENHOWER FEELS Mr. Eisenhower knows the situation , probably better than anyone else; h has spent a year in North Africa with the Arabs, w must count on a possible two or thre year struggle, which prob ably mean inflation. The United State will supply arms at least to England and possibly to Egypt. We would do that because w want to b on friendly terms with the Egyptians and Arabs. Mr. Eisenhower is very much disappointed In both England and Franc. Not only did they not ask his advice, but they went ahead very contrary to his wishes. Mr. F.isenhower has also been disappointed in the way " the Westers Powers have Tailed in connection with' NATO. H would not object to having these Western Powers including England get a good scare. Mr: Eisenhower wan elected on the platform of Peace, Prosperity, and Progress. He will now either refuse to take an action or else will dump the problem in the lap of. the United Nations. He certainly wishes to avoid another Korea. PRICE OF GASOLINE WILL RISE The oir Interests have notified Washington that, ' on the basis solely of supply and demand, fuel oil and. Indirectly, gs.tolin will move up Vi cent a month until oil is again coming from the Middle East. The Mid-East has pipe lines and the most important one has already been blown up. England and France have already gone on a rationed basis for oil. 1 think that the present uncertainty will drag on until the next Congressional elections. If it does, Eisenhower .may think he can win Congress by Just going to the people and telling them it is a choice between paying 10 cents a gallon more for oil or sending their boys to Europe, and that he will leave it to Congress. Therefore, he and his advisers feel the Republicans have a chance of getting control of both Houses in the next Congressional elections. With Fisenhower favoring free enterprise, he would very much hesitate to Interfere with the natural flow of oil in either the East or West, but would leave the prict to supply and demand. INTERNATIONALIZE THE DARDANELLES The Middle East oil fields are the plum of the world until we get organised on nuclear energy. A month ago the land there was the most valuable land in the world. Russia claims that she is not interested in the oil that the only thing she will insist upon is th' following: If the Sues It internationalized, the Panama Canal and the Dardanelles must also be internationalized. Russia insists that the Dardanelles and Panama bo put on tho same basis as Suez. Egypt pretends to represent the Arab world, but what is happening In Hungary should maka tho Arabs fear Russia and no longer trust her. The United States, therefore, stands a better chance of winning the Arab world. Eisenhower was over there for a year and he knows North Africa far better than does Eden or Mollet. EXPERT'S CONCLUSIONS Under the above conditions, I now see no chance of a real slump net year (1937); but 19.r7 may be a leveling-off year. A big break may not occur, especially in view of all the pension funds and unem ployment legislation, minimum wag laws, and the Employment Act of 1946. I still have faith in the Law of Action and Reaction; but when I developed the Babsonchart, we had been on a Gold Standard for many years. We had a natural, ceiling and a natural floor. Hence, it was fairly easy then to make correct forecasts based on tha Babsonchart areas. Now we are on a Political Standard and not a gold Standard. And elastic band can be stretched, but sometime it will break. Hence, I have not lost faith in the Law of Action and Reaction, Those Babsonchart areas can be manipulated by political action for perhaps four or five years before we go below the X-Y line but ultimately we will have to pay the price. - Salem Quotations Bl'ITF.RFAT (Andreaen'l) iv. t -Z ; t M - .81 IOCS (Oregon Egg Producer) Prlc to iarmera ar to eenti tinder theae wholeaal pricea): Jumbo A Extra I-arge AA . Large AA Large A Medium AA -. Small A POULTRY ( North weat Poultry) Colored Hena - ,i Leghorn Hena , - Ola Rooater .. ,., . . . . Callf.-OregoB Power laacaa Piywooa Conaol. Freight iron Fireman Janttcn Ine. Com, Meier at Fran Morrirnn-Knudeen Ore.-Port. Cement , Pac. P. tc L. Com. Pope It Talbot Portland Gaa at Cok Fori Gaa. k RANKS Bank of America .. Piank of California Chaa. Manhattan Firat National .. riret Nat. City M. T. fe. National , Bid 4ked 30 32 hi'. . 34i U'i. 1 ; ' , " ..39. 43 Z..i " ..." 2 J".e JJ' , M" Tl'i , -474 4 14 ' Forest Lands Funds Sent PORTLAND; Nor. 29- Checks amounting to $13,736,252 were mailed within the last few days to the state treasurers of Oregon and Washington by the U.S. Treas ury as the share of these two tales in last year's receipts from national forest lands. The amount is based on revenue frnm th la national forests com prising the Pacific Northwest Re gion and two outers, me loivuie and Klamath, portions of which extend into Oregon and Washing ton. Regional Forester J. Herbert Stone said Oregon and Washing ton receive $9,422,117 and M.313.- 435, respectively. The payments represent 25 per cent of receipts from timber sales, grazing of live stock, land and other uses of the national forests. The total received by the two states Is up $4.1U,09t ever what it was tha preceding fiscal year. Variety Store To Open Soon Munkres thriftwise Variety win open its doors here Monday with a complete line of variety- mer chandise. Regular hours for the lew Salem firm will be t a.m. through t p m. at Hs location on 9098 N. Portland Rd., former site el Man gua Variety. - WalV Munkres, owner and man ager, operated a similar business for three years in McMinnville be fore moving to Salem. He plans a grand opening for the store in the near future. 14 New Tree Farms Certified PORTLAND, Nov. 29-Fourteen new West Coast tree farms in Ore gon counties totaling 10,337 acres were certified this week by the Industrial Forestry Association, according to Nils B. Hull, presi dent. ' ..,. The new tree farms, all taxpay- Ing non-industrial forest proper ties, push the total Douglas fir region tree farm area to 4,830,654 acres. The new tree farms (by name, ownership and county) include these in the Salem area: Silverim, John Lalicker and R. F, Watson, Marion; Marvern, Vern D. and Mrtha E. Bronson, Polk. Chicago Grain ' CHICAGO, WHEAT ' December Marca May . July September CO. December March Mav . July September OATS December March May July . Septomber SYS December March May .. July .: September .. soyhf.ans January ,T, Miy- July September yov. w - Ope 143.l , S.48-43 3-. 2 2 . .-' i jth . 1 41 -41 144 44 l.48 1.411 ' Grain! Clea 142i! 143-42 2 M M JMIl-17 s.a 1HS 14242 14-44 141 .W .80 .79 .77 .17 .13 .73 " v .1SJ , y , i.4," i.43. . I. SO , i.47. . 1.44 v.,,;T 1.43 ,. :. 1.41 1.42 18t.l" ISl'i-'l e m.miu a aaai..aa KMMr S S-7 - 3 M B','4 1.43 !- 1 3'i- 2.U Chicago Butter-Eggs Women employees on British rail ways are regularly given "aids to beauty lectures. CHICAGO. Nov. 2 I fUSDA) Butter ateady: wholeeale buying fricea unchanged: 93 ecore AA i)a4 1: 92 A 6UU-41U; SO B 0-0; Ecaa weak: wholesale buying pric ea unchanxed to 3 centa lowe: 85 tier cent or bptter A white 37'37'; mediums 31-32; itandarda 33-33; checka 2S-25'3. - it ill Chicago Livestock CHICAGO, Nov. 9 (USD A) Hoga S.OOO; active; 25 to higher on butchera; aowa atrong to moetly 25 higher; No. 2-3 mixed grade lota 190-250 lb butchera moaUy 15 25-15.75; several lota 2-3 mostly 2. 190-2M lb 15 00-15 35: few lots montly 3. 190-300 lb 14.75-15.00; aowa 12 75 14.00., Cattle 2.000: calvea 400; steers and heifera steady, cowa mostly ateady to atrong; bulls closed weak to about 23 lower; vealera and atorkera and feeder steady: rhoica and prim 1.050 lb steers 25.80: good and choice steers 18.50-23.00; utility steer 13.80 15.00; good and choicR heifera 100 22.50; cows 9.0011.80; canner and Grains Mark Erratic Day CHICAGO, Nov. 28 ! Grslns wound up with scattered gains and losses after another erratic session en the Board of Trade today. Old crop wheat tumbled I cents at one time, bouncing back brisk ly in the closing minutes to end about 1 cent lower, Wheat'dosed 1 to H higher, corn unchanged to higher, oats V Wer to Mi higher, rye 1 2 lower, soybeans lower to higher and lard 20 to 57 cents a hundred pounds higher s ' At one time liquidation in De cember ''wheat, oats and rye be came very heavy.-' Notices of in tentions to deliver cash grains on December futures will be posted tomorrow. There also was selling In De cember and March wheat from those who felt wheat prices had about reached the tot. of their long advance which started early in the year. Thigf they claimed, was be cause prices had gone to a point where the Commodity Credit Corp. was selling wheat. Stocks and Bonds Compile by Tke Aaeeelate; Pros Chicago Onions CHICAGO, Nov. 18 W Onions: One Hick Lew Clea January . 1 40 1.40 1.30 1.31 rebruary l i 1 51 1 45 1.41 March 1.7 1.70 1.8 10 cutter 1.SO-8.80: few heavy holatebi eutera 19.00; bulla 13.75-14.50; food and choice vealera 18 00-22 00; fond 28-S73 lb yearling stock eleere 19.90; load of good ana choice z 10 leas er 100. Sheeo 1.800: steady to weak: good to prim wooled lambs 18.00 -20 50; CUU IO low gooo lamp i.wii., alaughter ewea 4.00-8.00. ' NaT. t BOKO AVBBAOES 1 1 ' 1 1 Stall Ma UtSl rrg Nat' Channm ' UncH D .1 Unch A .1 Thursday 87 8 88.8 8 1 80.8 Prev. Day 87.8 81 8 80.8 Week Ago SS.8 91 4 a 4 ( Month Ag 8 8 82 T 80 82.9 Year Aao 87 7 97 4 7 SS.S IKS Hl(k - 81 87.1 8 85.1 1M Low 17.8 80 "S 3 80.8 1958 High 88 99 S 100.1 8M 1888 Low 94.1 N.4 94 8 84.8 STOCK A VK AGES - . II II ' Iul Kalll CtU Stkl Net Chan D .1 D .8 Unch D .1 ThursdavT 130 1 127.4( 71.1 175.4 Prev. Day ' 150.1 127.8 fll.l 173.7 Week Afo 151 129 1 Ti l 174.4 Month Ago 21.1 134.1 10 8 179.4 Year Ao 253 4 140 8 73 8 IH0.2 IBM High - , 171 155.1 18.8 191.8 19M Low 144.8 121 R 171. 1958 High 257.8 142 4 19. T 111.5 1858 Low 20.1 I 114.8 81.1 141 InvestmentTrusts (XILKA, SMITHR A CO.. INC.) Affiliated Tund Canadian Tund . Century Sharea Trust Chemical Tund . Delaware Fund Diver, lnveat. Fund Dividend Shares Calon It H. Bal. Fund oaa.sjio. Group Tobacco .... lncorp. Investors , Key Cuat Funds: B-J . B-4 K-l S-l S-4 Man. Bond Fund Maaa. Invest. Trust Natl. Sec. Series: Income Series Sloe It Seriea Pref. Stock' S. Natl. Div. Series Natl. Growth Pioneer fund . Bid S .18 OS -.31 91 15.15 11 10 . 9.29 . 2 59 .21.47 13.97 189 9.40 -.11.1 .899 - 8 8 -11.18 - 8 33 - 1 21 -11.21 .101 . 8.87 . 8.20 . 4 78 . 8.20 .133 11.13 Tel.-Elec. Fund Value Lin Ine. Fund 9.71 Wellington Fund 13.9 Asked 111 . 1 51 33.69 16 SO . 13.21 10 18 25 12.96 15.27 4.28 10.19 1884 10.90 9.41 12 20 1017 7 9! 11.1 158 89 8.IM 119 8.71 1411 12.30 824 1437 Selling Drops Stock Prices NEW YORK, Not. M III -A sharp burst of sewing hammered down stock market pricea in m Id session today but a recovery drive began immediately, leaving prices only slightly lower at tbe close. The Associated Press average of 60 stocks declined 20 cents to 1173.40 with the industrials down 30 cents, the rails down 60 cents and the utilities unchanged. ' Volume was the best since Nov. 19 at 2,440,000 shares compared with 2,190,000 yesterday. Of 1.191 Issue traded, declines outnumbered advances by 649 to 297. There were 17S new lows for the year and two new highs. Markets at a Glance NEW YORK, Nov, DM- Mar ket! at glance: Storks Lower, due to wiling. Bond Mixed; government Im prove. Cotton Lower; hedge selling. CHICAGO: Wheat Mixed; old crop weak, new steadv. Corn Steady; rallied at cloe. Oata Easy; lata rally , reduces lossea. Soybean Steady: foreign bean all alea. Hoga Butcher up IS to IS cant. Cattle steers, heifers steady. Dow Jones Averages Mirw vnnir tm t J one a cloauig stock averagea: Mt k Low Close 38 Industrials 48.10 40 41 4M.83 18 Railroads 151.08 148 47 150 44 IS Utilities M l SS M t 97 Stock , 18 01 13.48 185 41 With So new Installations. Turkev is building SB entermiv meat. packing industry. Statesman. Salem, OfeVFrCK6ygM,"t(5ee.: 17-tJ Hungarians Use Strike Threat in Search for Nagy BUDAPEST, Hungary, Friday, Nov, 20 (A Representative of Budapest workers have threatened new strikes unless they learn the truth of what happened to deposed Premier Imre Nagy. The workers' representatives went through ring of Soviet tanks surrounding Parliament building late last night to present their ultimatum to Soviet-installed Premier Janos Xadar. . . Before they went into the con ference, a spokesman told West ern reporters: -It will be a decisive night. If they fait in negotiations with Kadar, there is no guarantee that they will halt workers from re luming spontaneous strikes. Portland Grain PORTLAND U) Coarse grains, 15-day shipment, bulk, coast deliv ery: Oats No. J. 28 lb white 52.00. Barley No. 2, 45 lb B. W. 49.50. Corn No. 2, , Y. shipment 02.50-03.00. Wheat (bid) to arrive market. basis No. 1 bulk, delivered cosst: Soft White 2.41; Soft White (ex cluding Rex) 2.41: White Club 2.41. Hard red winter: Ordinary 2.41; 10 per cent 2.41; 11 per cent 2.41; 12 per cent 2.41. Car receipts: Wheat 21; barley 11; flour 2; corn (; eats L - Man Demands Rent or Site OfQiyDam JACKSON, Miss.; Nov. 29 11 A Jackson realtor who has been demanding that the city pay him gnA . nuwtitlltf rani . f n ,lMinrt water in a section of Pearl River took out- a newspaper advertise merit today to tell his story to the public. ' , i L. L. Mayes claims his firm, the Universal Realty Co., owns land on which the city recently com pleted a dam for: water atorage purposes. .. , , Asset-tins; the City Council has laughed off his demands for rent, Mayei said in an ad covering a third of a page in (he Jackson Daily Newi: k "If our city stepfathers want a real good belly laugh they can stand on the river bank and laugh at their prospect of. discovering; that their eighty-thousand-doUar dam is standing on someone else's land.". He suggested they check the record.;- ., ' . w . S ;-.. ;', Calling for the city ."to pick up its marbles and go home," Mayes laid it can avoid liability for pay ment of rent by "removing itself from our lands prior to Jan. 1, 1957.- . -City Arty. E. W. Stennett has suggested that if Mayes does ewa the property, he is liable for dam ages when the river floods part of city-owned Riverside Park. - OPEN THIS FRIDAY ONLY ALL DAY 9:30 A. M. TO 9 P. M. RSI 00 QO 00 aZ&XfiGKSd 00 Mil ftipip L a. , . ' WA Jim f MAIL AND PHONE ORDERS ON EVERYTHING EXCEPT "YOUR LUCKY DAY" ITEMS. Plus shipping cost ta areas outsida aur regular truck delivery routes. IT i ' FRIDAY SURPRISE! GIGANTIC SALE IMPORTED CRYSTAL TABLE LAMPS t 'A REGULARLY $39.95 c Sparkling crystal from Weit Germany, fashioned with. meticulous care and at tention to every detail, lamps to brighten and lighten tha noma , lamps to give for Christmai to be enjoyed for yean.' All have three-way lighting;' bases era lacquered to prevent "tarnishing. Smart parchment type ihadei that blend with any type or decor. Truly wonderful gifts . , , truly wonderful valueil FRIDAY SURPRISE student lamps $18.95 Your choice of tingle or double, floor or table lamps. Highly pol ished brass. Shades in green, wine, yellow or white.. Mail and phone orders Msmm Lamp Shades '1.99 Some one-of-a-kind; some pa Ira in tha group. Acetate taffeta, also a few in s.hsntung. FRIDAY SURPRISE 29.95 candlestick lamps 514:95 lovely polished brass from tha Orient. Three-way lighting; antique gold parch- ment shades. 26" tall, reg. $39.95, 29" tall .....$! 9.95 reg. $49.95, 33" tall .:,:.....$24.95 Mail and phone orders . ' .FRIDAY SURPRISE. 29.95 table lamps 14.95 $ Wonderful selection of china table lamps -some with floral patterns. All have 3 way lighting. Some milk glass with' prisms. 7V' m" Mail and phone orders' $39.9$ Tabla Lamp$ 19.95 Famous Rembrandt ta ble lamps; floor sam ples drs s 1 1 e s 11 j re duced. Shop early for yours. -FRIDAY SURPRISE. 5.99 boudoir bases $1.99 large selection of delightfully feminine boudoir lamp bases. Choose from crystal, Dora and milk glass. Several styles. Mail end phone orders .FRIDAY SURPRISE. , a... ' n .iiniiiiiii.niiimiiim'aiwiii'i a reg. $69.95 imported Venetian glass lamps $34.95 . Exquisite table lamps from Jtaly . . . stun ning Venetian glass In paster tones of amethyst, pink, turquoise and clear crys tal. Each has Its own specially designed shade. Antique brass mountings. reg. $19.95 single Flexie floor lamp :. 1495 Solid brass floor lamps In smart modern styling .1, and ona of tha most usable floor lamps you could have In your home. So easy to move and adjust to any posi tion to give yog light just where you want It. . ' , ' ' Reo. $24.95 double Flexie 19.95 39.95 1 6-vay floor lamps $24.95 Bronze-finished six-way floor lamps with beautiful hand-sewn shades. Very decora tive. Shades In a wide choice of popular colon. Mail and phone orders' LAMPS-SECOND FLOOR 'Plus shipping cost to areas outside our regular truck delivery routes. ( 1 1 . )