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About Heppner gazette-times. (Heppner, Or.) 1925-current | View Entire Issue (Dec. 27, 1956)
Copies 10 Cents Babson Predicts Fair Business, Increasing Inflation During 1957 (Copyright 1956 Publishers Financial Bureau, Incorporated) By Roger W. Babson Both presidential candidates, in their pre-election speeches, pro mised PEACE, PROSPERITY, and must do this in order to enforce is the basis of my Outlook for 1957, tempered of course by Russia. 1. World War III will not start in 1957. 2. 1957 will witness gradually increasing inflation. 3 Manufacturers will be faced with higher costs for both ma terials and labor. 4. All businesses will be confronted by Increased competition, both within their own industries and from other industries. 5. More advertising will be necessary In 1957 if profits of manu facturers and retailors are to equal those of 1956. 6. Failures will increase In 1957, both as to numbers and lia bilities. Thousands of small con cerns will be wiped out. One or two of the largest corporations will face bankruptcy or re-organization. 7, Cost of living will rise slightly during 1957. 8. Most labor unions will . hesitate to make public fights for higher wages, but will work for shorter hours, pensions, and "fringes." 9 Europe must pay so much more for oil that it will have less money for purchasing other . goods. 10. Unexpected events will occur during 1957; however, as a whole, business will remain fair, but with smaller profits. MONEY OUTLOOK 11. As foreign countries must pay in gold or dollars for oil, their industries will be handicapped, unemployment will increase, and pressure for aid from the United States will be greater. 12. The Federal Reserve Board will not relax its restrictions so long as we have full employment in the United States; but if un employment increases we may expect a relaxation. I am very glad Mr. Robert Cutler will again be Mr. Eisenhower's adviser. 13. Owing to the tremenduous numbers of employees, suppliers, and retailers dependent upon the large corporations, these 'will be first to receive bank funds. 14. Many plans for expansions of plants, by both big business and little business, will be postponed. Most corporations will find it difficult to get new short-term money at any price in quantity; while long-term financing will be too expensive. 15. Tight money will cause state, municipal, and town govern ments to postpone plans for building roads, schools, and hospitals except in cases where the Federal Government pays most of the costs. This will put a damper on many lines of business. 16. Owing to these increased money rates, state, municipal, and town bonds, although tax free, have been declining rapidly in price. Most financial advis ers forecast much lower prices for such securities. It is possible that these non-taxable bonds will sell at higher prices before the year is out. This postponement may also reduce the price of steel and other materials. 17. The money managers for each corporation, large or small, will now arrange their financing needs for two years by either se curing the necessary funds now or reducing their requests. 18. Prices of corporation bonds will not recover so quickly as the non-taxables. I forecast lower prices for most corporation bonds. 19. Many of the smaller and newer corporations will be much disappointed by their inability to secure funds during 1957, ex cept by selling convertible pre ferred stocks on terms very favor able to investors. It is well to issue such securities when money rates are low because the advant ages continue for many years; but not when money is tight, as such securities then tie up the borrower for a long number of years at high rates. 20. This means that 1957 will be a good year for investors to switch from low-yielding stocks to attractive bond issues. REAL ESTATE OUTLOOK 21. Home building, corporate expansion, and municipal im provements will decline in 1957. Therefore, it will not be a good year for speculating in real estate. 22. Interest rates on mort gages will be higher in 1957. Loans not "federally" guaranteed will require larger margins. 23. Real estate in large cities will continue inactive with de clining prices due to lack of park ing facilities. , 24. Suburban real estate will continue active, but fewer new houses will be built. Houses will be for sale by executives who have lost their well-paid Jobs. 25. Purchasers will give more attention to the size of the lots than to the houses. Better lo cations can be secured by buying existing houses. Modern kit chens will become a "must". 26. Acreage near proposed shopping, centers will be excellent for speculation. The automobile will continue to raise havoc with real estate prices, helping some locations and hurting others. 27. New inventions in connec tion with heating, lighting, and other features will make most older houses obsolete. 28. Large commercial farms will continue prosperous. Small farms on the fringes of cities will be more valuable. The outlying LIBRARY 0 OF 0 1 EUGENE. ORE Heppner, Oregon, Thursday, December 27, 1956 PROGRESS. They stated that they the Employment Act of 1946. This ROGER W. BABSON medium-sized farms will be both expensive to operate and hard to sell. 29. the nearness to schools, churches, stores, and bus routes will become a more important factor in the re-sale of homes. do. inose wishing to own a well-located home to occupy will find 1957 a good year to buy or build; but a dangerous year for speculation. STOCK MARKET OUTLOOK 31. It is foolish for anyone to now forecast the stock market for 1957. The Dow-Jones Indus trial Average, now around 490, may decline to 400 or advance to 600 during 1957. 32. All investors will want "safety", but wise investors will first decide whether they also want "income" or "profit." Only by luck can you obtain all three features with certainty during 1957. 33. Investors can buy, during 1957, well -seasoned preferred stocks (preferably cumulative) which will give, with safety, a yield of near 6. I will gladly send, free of charge, a list of such to any reader so requesting. 34. During 1957 good utiliy stocks should be attractive for yield and marketability. The de mand for electricity will continue to increase throughout 1957. 35. The above two recommen dations apply to those in moder ate income tax brackets. The in vestor in medium or high brack ets will buy during 1957 non-taxable state, municipal, or town bonds carrying "full faith and credit." Taxes will gradually increase during 1957, and . non taxable bonds will be more In demand from wise investors. 36. I am not now prepared to advise readers who do not care for income, but only for profit As above stated, the Dow-Jones Industrial Average may approach, during 1957, either 400 or 600. It will be very easy to make a mistake by either buying or sel ling stocks at this time, except for intelligent switches. I am will ing to say, however, that readers should not get panicy and sell their oils. Even Gulf Oil, which has the largest interests in the very rich Middle East fields, should not be sold. 37. All sensible investors will carry good bank balances and re serves during 1957 so as not to be caught, whatever happens. 38. There should be no panic in the stock market during 1957. Stocks will either fluctuate near their present levels or else will gradually slide downward or up ward. It will be risky to borrow money to buy stocks In 1957; rather, one might sell stocks to Continued on Page 6 fflL wmzttz Jack Angel is Named Chamber of Commerce Prexy Jack Angel, administrator of Pioneer Memorial hospital, Wed nesday was named new president of the Heppner-Morrow County Chamber of Commerce by the board of directors of the organiza tion. He will be installed next Monday to replace Phil Blakney, owner of Phil's Pharmacy, who has headed the group during 1956. Other elective officers who will assist Angel during the coming year are Jack Bailey, first vice president, and Dick Brunner, se cond vice-president. Bailey is sec retary of the Elks and Brunner manager of the Heppner Pen ney's store. Angel will make his committee appointments shortly after the first of the year. The directors yesterday accept ed the resignation from the board of Bradley Fancher, who recent ly announced that he planned to move from Heppner within a short time. They also voted to increase the dues for an asso ciate member to $10 per year and changed the associate member catagory to include county offi cials and other government of ficers whose jobs prevent them from attending the meetings regularly, along with farmers and the clergy. Angel served as first vice-presl dent of the chamber during the past year, and has been active on several committees. He will be installed by Frank Turner, traditionally the chamber's in stalling officer. Forest Service Man Transferred to Washington District Jack Mounts, timber manage ment assistant on the Heppner Ranger district, has been recently transferred to the Randle district of the Gifford1 Pinchot National Forest at Randle, Wn. Mounts has been in Heppner since Sep tember, 1955 and ha9 been on the Umatilla National Forest service since 1952, having previously worked in the supervisor's office in Pendleton and on the Dale Ranger district on timber man agement activities. Mount's new position on the Randle district will be as district assistant and as such will have an opportunity to broaden his Forest Service experience into the fields of fire control, improve ments and other phoses of the work. Mounts has been replaced on the Heppner district by Calvin Wiessenfluh who has previously worked for the Forest Service and for private industry. His most recent position hs been with the Alexander Stewart Co. at Prine ville. His wide experience In both Forest Service and private forestry makes him well quali fied for his position on the Hepp ner district. Elks Teen-Age Party Set Friday Night All lone, Lexington and Hepp ner high school students will be guests at a teen-age party to be held Friday night at the Elks temple. Dancing, games and a buffet lunch are planned. The party is sponsored annu ally by the Heppner Elks lodge assisted bv the Soroptimist club whose members prepare and serve the food. Mr. and Mrs. C. A. Ruaales spent the holidays in Kennewick, at tne nome of their daughter and son-in-law, Mr. and Mrs. Jack Fastabend. Top Events What happened during the year just coming to a close? Here is a recapitulation of the Import ant and interesting stories which have appeared in the Gazette Times during 1956. They are not listed in order of importance, but in their chronological order. Phil Blakney named new presi dent of the Heppner-Morrow county Chamber of Commerce. Frank Anderson chosen county Cattleman of the Year. lone Masonic lodge sponsored blood typing program nets big group of prospective donors. Morrow county became the first beef county in Eastern Ore gon t oreceive a modified Bangs free certificate. John Graves elected president of county livestock growers. Morrow third county in state ft- LEXINGTON VOSt OFFICE SAFE was found covered with sage brush and tumbleweeds by police officers Monday on a little-used road a short distance north of town. It had been expertly "peeled" and most of its cash contents taken. Examining it are, left to right. Neal Penland, sheriff C. J. D. Bauman and C. H. Westerlund. postal inspector from Yakima who investigated the theft. (GT Photo) Union Pacific Agriculture Car Due Here Jan. 3 New Chemicals for soil fer tility and waging war on per ennial weeds will be featured during the January tour of Union Pacific Railroad's agricultural improvement car, according to Leo J. Wagner, agricultural agent. Wagner said local county agents, Rex Warren, extension farm crop specialist, and Howard Cushman, extension soil conser vation specialist, both of Oregon State College will be the key speakers. Three programs are scheduled for Heppner Thursday, January 3, at 9:00 and 10:30 a. m. and 1:30 p. m. The car will be at the Heppner depot. .Cushman said he would talk about the results of 50 trial plots located in every county in the state where various rates of fer tilizer application were com pared" against yields. "The findings of these recent trials" Cushman said "show that many farmers are wasting fertilizer and also lead us to a point where we can make close fertilizer recommendations for both grain and forage crops." Cushman will also talk about progress being made at the col lege on developing an accurate soil test for nitrogen. Chemical weed killers are mov ing to a state of complete special ization, according to Warren. "While 2,4-D is still the old standby," he said, "new chemi cals are coming on the market that are tailor-made to control individual weeds. But one fact re mains true with all chemicals, the time of application which varies with the soil, crop, mois ture and temperature is still the key to successful weed con trol." The feature motion picture of the tour is "Making the Most of a Miracle" produced by the Am erican Plant Food Council and considered one of the best pro duction on soil fertility current ly available. Union Pacific mo tion pictures on agriculture and travel will be shown if time per mits. The Agricultural Improvement j car, according to Wagner, is a special railroad car auditorium and will comfortably seat 64 adults. He said it is completely equipped with motion picture, slide projection and two-way public address equipment. o Bob Bryant is spending , the holidays visiting with his mother, Mrs. W. J. Espey at Potlatch, Ida. of Year in in U. S. savings bond sales In I 1955. Mercury drops to -8 in early February. Heppner street improvement plan gets city council OK. Rain, snow and heavy runoff causes heavy damage to county roads. Conservation tour exam ines erosion. Morrow County Grain Growers purchases Paterson ferry dock and elevator. Heppner council OK's chamber of commerce "giveback-a-nickle" parking meter plan for city. General agitation started for improvement of Heppner-Spray highway. Water Resources committee makes plans to collect stream flow data. New Heppner grade school 73rd Year, Number 42 s LEO J.WAGNER, Union Pacific's agricultural agent who will present a program of interest to farmers when railroad's agriculture car visits here Janu ary 3. Ice Causes Long Power Outage Here Thursday Morning A two hour and four minute power outage this morning on all Pacific Power and Light Co. and Columbia Basin Electric Co op lines in the Heppner, Lexing ton and lone areas brought most business to a standstill and re sulted in a good many cold houses. The outage was caused when heavy icing conditions on the REA-PP&L 66,000 volt main feed er line from Hermiston to Jor dan shorted out the transmission system. Service was restored on most lines by 11:39 a. m. Heavy freezing fog has been prevalent for the past several days in the area north of Lexington to the Columbia causing a building up ice on the lines. The blackout caused a three- hour shutdown of this paper's typesetting equipment with the result that time did not permit several news stories to be set prior to mailing deadlines, The outage was the longest ex perienced here in several years. Post-Christmas Services Announced This Friday, being Holy In nocents' Day, there will be two celebrations of the Holy Com munion at All Saints' Episcopal church. The first will be at 10:00 a. m. and the second at 8:00 p. m. Services for the Sunday after Christmas will be Holy Commun ion at, 8:00 and 11:00 a. m. and children's service at 9:45. January 1, the Feast of the Circumcision, Holy Communion at 10:00 a. m. County as dedicated In April Valby Lutheran church cele brates 70th anniversary of. its founding. Patsy Wright chosen Fair and Rodeo queen. Mrs. Mary Stevens resigns as mayor, W. C. Rosewall appoint ed. Pioneer Memorial hospital re ceives $5,000 bequest from estate of Mrs. Pauline Quaid. Gilliam county Bank announ ces plans to establish Heppner branch. Alfred" and Norman Nelson are named county conservation men of the year. United Stud Mill to start opera tions here. Fire completely destroys home and contents of the Robert Camp bell family. Hi 'J Lexington Post Office Robbery Most Serious Of Week's Many Crimes A pre-Christmas crime wave in this section of the county culmi nated Sunday night with the robbery of the post office safe at Lexington and the loss of be tween $400 and $500 in cash and money orders and destruction of the safe. The post office was entered through a rear door sometime Sunday night and the safe moved out the front of the building and loaded into a car or truck. It was hauled to a secluded spot about five miles north of Lexing ton and broken open. The robbery and "safenapping was discovered early Monday morning by Mrs. Emma Breshears postmistress, who immediately called postal authorities, sheriff C. J. D. Bauman and state police. The lock on the rear door to the post office had been broken and the robbers were forced to move a counter to get the safe out the front door. Later Monday morning state policeman William Labhart, on a tip from a rancher who noticed unusual tracks on a little used dirt road, found the safe covered with sagebrush and tumbleweed. The two officers, along with C. H. Westerlund, postal inspector from Yakima, examined the safe, which had been expertly peeled and returned the numerous books and other contents which had not been removed. The exact amount of loss 'had not yet been determined as there were, in addition to post office funds, Lexington water depart ment and television receipts kept in the safe. A small amount, of change, a one and a five dollar bill, and another sizeable amount of cash in an envelope was over looked by the robber. The door had been completely ripped from the safe, but nearly all the books and other contents had been piled back in the box after the search for money. Many checks were also left. An underetmined num ber of money order blanks were also taken, but a sizeable num ber of government bonds were untouched. Police also found that the Lex ington Oil Co-op had been broken into the same night and some of the tools taken from the co-op were used in the post office rob bery. One tool was left at the spot where the safe was opened, but no trace was found of a hand truck and other Items taken from the co op. The same night police reported that the Condon post office was entered and an attempt was made to break into the safe there. The safe was too big ta remove and the efforts to open it were un successful, except to ruin the safe. Breaking Reported Here Three robberies or attempted breakins were reported to police last weekend, all taking place Thursday night. Would-be robbers bored a hole Porcupine Contest To Close December 31 The porcupine contest, spon sored by the Morrow County Hun ter's and Angler's Club, will close at midnight, December 31. All participants in the contest that still may be holding porcu pine noses will want to get them all turned in before this date in order that thev be counted in thp contest and that they get their sporting goods in return for the noses. Noses may be turned In at Gilliam and Bisbee Hardware, Western Auto Store, and Ander son's Builders Supply In Heppner, Williams Store, Spray, and' Set tle and Son, Monument. , Prizes will be awarded at a meeting in January, the date to be announced later. Mrs. Grace Nickerson spent the Christmas holiday In Condon with her daughter and son-ln-law, Mr. and Mrs. Richard Hayes. Recorded Patricia Wright chosen to rep resent nation's 4-H girls on nation-wide TV broadcast from New York City. Alvin Wagenblast . named county grassman of the year. Don Robinson chosen county cattleman of the year. Heppner Junction depot de stroyed in lightning-started fire. Boardman potato growers hit "jackpot" with high prices and big crop. Huge county wheat crop fore seen in early harvesting. 80 bushel average reported from one county wheat field. Fair and rodeo plays to enthus iastic crowds. Planning started on attempts to get dam built on Willow creek. Engineers asked to make resurvey of plan. in the roof of the J. C. Penney store sometime Thursday night, but after getting into the attic of the building and breaking a hole in the ceiling, apparently gave up. The store itsell was never entered and manager Rich ard Brunner reported the attempt to police Friday morning when he noticed a small hole in the ceil ing. The attempt was similar in style to the recent roof-entry attempt at Aiken's where a brace and bit had been used to bore out a section of the roof large enough to allow entry. The same night about $80 in tools were taken from a pickup belonging Ray Ayers and a win dow of a car owned by Al Huit of Heppner was broken and a pair of binoculars and some cigarettes were stolen. First 1957 Baby To Get Many Prizes Again this year the merchants of Heppner are offering a big list of prizes to the first baby to be born at Pioneer Memorial hospi tal in 1957. The list includes a wide assortment of gifts such as receiving blankets, baby food, oranges, bottle warmers, cash gifts and many others. There will also be a few special gifts for the father and the parents will get a sizeable discount on their hospi tal bill from Pioneer Memorial. A complete list of prizes and donors appears elsewhere in to day's Gazette Times. o Some Pork, Veal Prices Gain HERMISTON Seventy seven consignors placed 427 cattle, 298 hogs and 98 sheep on the Her miston Livestock Commission Co. auction block Friday in what manager Delbert Anson termed a very fast moving market. Feeder pigs showed the best gains ranging from $17.10 cwt to $19.80 cwt.,a gain of about $2 cwt. over last week's spread of $14.50 to $17.60 cwt. Veal continued to bring high prices with a top of $21.25 cwt. Prices on other grades held steady. A feature of next week's sale will be marketing of a large lot of yearling steers. Stock cows and steer calves will be in special de mand. The Market: CATTLE: Baby calves, 2.50 to 12.50 per head; steer calves, 17.20 to 18.40 cwt.; heifer calves, 13.80 to 15.20 cwt; veal, 17.90 to 21.25 cwt.; stocker steers, 14.50 to 16.10 cwt.; feeder steers, 16.10 to 17.40 cwt.; heifers, 12.20 to 15.60 cwt.; dairy cows 102 to 163 per head; stock cows, 110 tol30 per head; utility and commercial cows, 10.. 40 to 12.20 cwt; canner-cutter cows, 7.20 to 9.20 cwt.; shells, 4.60 to 7.80 cwt.; and bulls, 12.20 to 13.40 cwt HOGS Weaner pigs, 7.50 to 13.25 per head; feeder pigs, 17.10 to 19.80 cwt.; fat hogs, 16.60 to 17.70 cwt; and sows, 13.10 to 14.70 cwt. SHEEP Feeder lambs, 14.10 to 16.20 cwt.; yearlings, 10.20 to 14. cwt; ewes, 10 to 14.50 per head. Those earning top prices at the market included Helen White, Hermiston, 13.25 per head for 20 weaner pigs; Tom Cimiyotti, Con don, 14.70 cwt for two sows of 610 pounds; Arthur Sedman, Ply mouth, 18 cwt. for seven angus steers of 3530 pounds; Fred Fred erickson, Irrigon, 21.25 cwt. for a 235-pound veal; Doyle Ivey, Ken newick, 13.40 cwt for a 1275 pound bull; R. W. Potter, Condon, 18.40 cwt. for six steer calves of 3110 pounds; Jack Burton, Mil ton, 16.20 cwt. for seven lambs of 620 pounds; and E. P. Snyder, of Hermiston, 130 per head for 16 stock cows. in News Boardman bombing range ru mored as possible site for Navy ammuintion depot. Reduction announced In 1956 57 county taxes. Mrs. Ellen RIeth of lone cele brates her 100th birthday. Heppner golf course opened for play. State highway commission gives OK to relocating and pav ing of Heppner-Spray highway. Alvin Wagenblast named se cond place winner in state Grass man contest. County casts record vote In the general election. Heppner city council congratu lated by auditor on handling of city's affairs. County farm Income reported 25 higher than 1955. Kenneth Peck of Lexington named state conservation man.
