Fm 1A EUGENE REGISTER-GUARD, Sunday, April 21, 1963
Steel Price Up,
Wall St., Too
NEW YORK (JV-Steel price
Increases and indications that
President Kennedy it not going
to oppoie-tbem as be did a year
ago accompanied a rising stock
market last week.
It was the market's sixth
straight weekly rise but it was
by no means a straight-line ad
vance. The strength that put
the market well ahead for the
week was displayed on Monday
and Friday.
In the three sessions Interven
ing, the market moved un
evenly, "consolidating" Its pre
vious rise to new peaks.
The list bulled its way to new
Fluoridation OK'd
Br ASSOCIATED PRESS
Fluoridation of the water sup
ply was approved Friday by
voters In the Wolf Creek High
way Water District.
The margin was 1,376-890.
The district purchases Bull
Bun water from Portland.
Fire Runs
(From 10:30 a.m. until
10:30 p.m. Saturday)
v
Eugene
0:38 p.m Overheated
oil stove, 31S E. 29th Ave.
7:20 p.m. Seven Shet
land ponies electrocuted
at Lane County Fair
grounds. 9:07 p.m. Flue fire,
558 W. 22nd Ave.
9:10 p.m. Flue fire,
28S0 Washington St.
Springfield
7:87 p.m. Trash fire
along railroad tracks near
22nd Street.
highs for 1963 on Monday, as
more ateel companies an
nounced selective price in
creases. Confidence was
strengthened by news that in
dustrial production had moved
to a new record in March.
Weekly steel production
reached the highest level in
three years.
When U.S. Steel finally fell
in line and announced some
price increases of its own on
Tuesday, the bloom was off the
rose so far as the advance in
steel stock was concerned or
so it seemed. Profit-taking on
the steels and motors was a
prominent phase of trading dur
ing the three middle days of
the week.
During most of Friday, this
tendency continued, with vol
ume slackening and not much
expected in an apparently dull
pre-weekend session. Late in the
day, however, came Kennedy's
remarks that indicated he would
not oppose the price boosts.
Strangely enough, earlier in
the same session, the manage
ment of Republic Steel and
some smaller steel companies
announced that they would re
scind some of the price in
creases they had announced
only a few days before. The
steel shares moved uncertainly
in reaction to this but there
was no selloff.
When Wall Street heard the
Kennedy news it brought a re
newed rush to buy the steels.
U.S. Steel ended that day and
the week as the outstanding
volume leader on the New York
Stock Exchange with a net gain
of lVt.
The Dow Jones industrial av-
erago reached a new peak for
the year, making a moderate
net gain of 3.23 to close the
week at 711.68.
The Associated Press average
of 60 stocks advanced 3.1 to a
new high for the year of 268.8.
Drainage Study Eyed
For East Springfield
A comprehensive drainage
study aimed at solving east
Springfield'f water problems
may be started shortly.
City Manager Frank Smiley
Is recommending that the Fort
land firm of Stevens It Thomp
son, Inc. make the study. The
firm Is one of fivo that has sub
mitted proposals to the city for
making the survey.
Smiley said Friday he will
recommend to the city council
Monday night that the Port
land firm be authorized to be
gin the study immediatcy. It
would cost about $5,000 for the
survey, Smiley said.
R-GWins
News Award
Paper's Coverage
Of Big Storm Cited
ATLANTIC CITY, N.J.
(Special) The Eugene Register-Guard
Saturday received a
national headliner award for its
coverage of the Columbus Day
typhoon. The award was pre
sented at the 29th annual
awards luncheon of the Atlantic
City ileadliners Club.
Robert B. Frazier, associate
editor, received the plaque for
distinguished journalism. In
his brief acceptance remarks,
Frazier stressed the team effort
that went into putting out a
paper in the face of power fail
ures, broken communications
lines and uncertain transporta
tion. Also receiving similar plaques
were representatives of News
week Magazine, the Chicago
Daily News, Miami Herald,
Louisville Courier Journal, Dal
las Morning News, and other
papers, radio and television out
lets. The Register-Guard won first
place in the news entries of its
circulation bracket There were
2,300 entries in the contest,
which dates from 1935, when
awards were given for coverage
of the Weyerheuser kidnaping,
the Hauplmann trial, the Dil
linger case, and the assassina
tion of King Alexander of
Yugoslavia.
Among the personalities at
tending the Saturday luncheon
and receiving awards was Frank
McGee of NBC News, who re
ceived an award for consis
tently outstanding television
news work.
The award luncheon was the
principle feature of a three-day
annual ceremony.
Among the winners in past
years are Webb Miler, Heywood
Broun, Raymond Gram Swing,
Westbrook Pegler, Edward R.
Murrow, Homer Bigart, Stanton
Delaplane, and other distin
guished newspapermen over 30
years.
Included In the study would
be recommendations on what
existing ditches in east Spring
field should be deepened, the
best location for the new storm
sewers, pipe sizes needed to han
dle surface water, and needed,
if any, for new ditches.
Councilmen more than a
month ago indicated they feel
the city should sell a bond is
sue some time this year to fin
ance a drainage program.
Smiley said if the bond issue
proposal can bo placed on the
ballot early enough and ap
proved by voters, some drainage
work could be done later this
year.
Funeral Monday
For Mrs. Adler
Funeral services will be held
Monday for Mrs. Fred (Annie
Dollie) Adler, 72, of 1977
Grant St., Eugene, wbo died
Friday.
Mrs. Adler, who was born in
Eugene July 7, 1890, was the
sister of John, Eugene, Cecil,
Frank, Barbara, Jeannette,
Joseph and William Maughan,
all of Eugene.
Other survivors include three
nieces, Jean Lake of Eugene,
Marjorio Snider of Pasco,
Wash., and Doris Lardy of
Nigeria.
Services will be held at 2
p.m. Monday In the England
Funeral Home with interment
In West Lawn Cemetery.
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