Image provided by: Morrow County Museum; Heppner, OR
About Heppner gazette-times. (Heppner, Or.) 1925-current | View Entire Issue (Jan. 2, 1958)
Page 6 Heppner Gazette Times, Thursday, January 2, 1958 Bab son- (Continued from Page 1) 39 Canadian oil resefVes should begin to recover in price unless there is rationing of gas oline In the United States in late 1958. 40 Most Important factor in connection with real estate Is the parking problem, which is a curse of almost every city. Sub urban real estate and farms owe much to the automobile, but the automobile industry is now reach ing a stage where it could rev olutionize present real estate pri ces. We owe the automobile in dustry a debt of gratitude for our present prosperity. It is a bellweather of general business for 1958. It is, however, like every thing else, subject to the busi ness cycle and may be cause of the next depression. Another pro bable cause will be the failure of one of the big corporations whose stock is among the "30 Blue Chips" of the Dow-Jones Industrials. STOCK MARKET OUTLOOK 41 The "bloom is off the stock market." We will have rallies and reactions during 1958, but the broad trend will be down ward. This is the first time for many years that I have said this in my annual report. There is too much talk about missiles, bombs, and fallout. 42 While the stock market has been going up during the past few years, the bond market has been going down. The re verse will take place during 1958. While the stock harket is going down, the bond market will be gin to creep upward. This espec ially applies to tax-free bonds, the purchase of which I strongly recommend. 43 Good cumulative non-callable preferred stocks will also be in demand during 1958. Owing to the money market, they re cently suffered In price; but ow ing to lack of supply, they will be the first stocks to recover. Re member, I am now recommend ing only high grade cumulative non-callable preferreds. 44 The large fortunes made in the stock market have come from buying non -dividend pay ing stocks at $5.00 a share or un der. These will be the first to reach a buying level. If you are to buy these low priced stocks, you should seek companies with out too much cumulative pref erred stock outstanding. This Is the opposite of the "preferred" recommendation in paragraph 43! 45 Large bank balances will continue to be a good investment In 1958. Many savings banks are now paying 3 to 3 Mi percent in terest. These balances, however, should not be looked upon as permanent Investments, but ra ther as a means of enabling you to have cash available when common stocks reach a low level. This time may NOT come in 1958. Here again, much depends upon President Eisenhower's condition. 4G Although many corpora tions interested In atomic energy, electronics rare metals and oth er growth industries will become more prosperous and profitable to Investors, some of these new companies will be wiped out. Hence, investors should be very careful in connection therewith. 47 Utility stocks should hold their own with regard to divi dends and marketibllity. Electric power will always be In demand. 48 Most railroad stocks should be avoided. Most passenger bus iness is now being operated at a loss. Trucks, busses, airplane's, and private automobiles will ul timately force the government to take over the railroads. In the meantime, the securities of the long-haul railroads, which spec ialize In heavy freight, will be the best to own. The short haul roads should be avoided by Investors. 49 Notwithstanding the above we cannot now become panicky or too much bearish. Our country Is not now operating on the gold standard which was responsible for many of our national crises, but Is now on a Political Stand ard. Although Newton's law of Action and Reaction must contin ue to operate, yea Congress can for a while lengthen the pros perity cycles. This It will attempt to do even If it requires an ec onomic dictator to temporarily regulate money, wages, prices, rents, taxes, and industry in gen eral. I cannot forecast disarma ment in 1958. It appears to me now, however, that the present race In guided missiles, atomic underwater navies, surprise sat ellites, and other tremendously destructive military equipment could ultimately rob us of our freedom and turn us back to slavery unless disarmament be comes a serious goal. The Sput niks should hasten either an other military world war or the elimination of world wars. Sput niks should shorten the cold war now In progress. 50 Speaking realistically, the hope of the United States and the world depends upon our spir-, itual relationships. Only as we grow spiritually, along with our material growth and military power, can the world be kept in balance. Therefore, my final ap- NEW PLASTIC CLAY- Bakes Easier Than Pie r" ''-I ' V'' ' iv a, ' tt. -a 4 r " " . , 3 v J ' p '?:! 1 fy Jii , jSLBatJJL. A3 w the n.'ime of a remarkable new modeling material that children can shape into whatever little object they fancy and bake for tiermanence in mother's own kitchen oven in 15 minutes. Pyrocon differs from old fashioned earth clay in that it is a modern pliant plastic material. It needs no moistening, is clean and non messy to work with, and comes in brilliant basic colors that can be mixed to any shade or left par tially blended for marbleized ef fects. Before baking, it can be used over and over again, and stored for months without drying out. After baking for 15 minutes at 350F., it becomes hard and practically unbreakable. Pyrocon kits include a full range of colors, basic pattern molds, modeling tools and complete instructions -priced at $2.00 at art supply stores or toy counters. The mate rial ii also available in bulk for professional and institutional use. I'M I A Over 600 Persons Attend Open House At Bank Building Well over 600 persons attend ed the open house Saturday of the new Bank of Eastern Oregon building and examined the mod ern facilities of the bank. Man ager Gene Pierce said nearly 450 persons signed the guest reg ister and over 600 were served refreshments by wives of the bank's directors and officers. On display were many pieces of bookkeeping equipment which will be put Into use here. A feature of the opening was prizes for guessing the weight of the vault door and the num ber of moving parts in a book keeping machine. Prizes of $15; $10 and $5 savings accounts were offered for both contests. Weight of the vault door was 5,367 pounds and the closest guess of 5,380 was made by sheriff C. J. D. Eauman. Second prize winner was Gary Jones with 5,396 pounds, and third place went to Ervin Anderson with 5,400 pounds. The bookkeeping machine had a total of 7,412 parts and Clyde Nutting came the closest with a guess of 7,250; Loyd Burkenbine was second with a guess of 7,230 and Ray Wright third with7,G00. HOSPITAL NEWS New arrivals To Mr. and Mrs. Joe McMinn, Klnzua, a 6 lb. 4 oz. girl born Dec, 29, named Pat sy Keylene. To Mr. and Mrs. Hen ry Robert Krebs, Cecil, an 8 lb 13'a oz. boy born Dec. 23, named Skye Henry. To Mr. and Mrs. Richard Carl Donald, Portland, a 6 lb. 4 oz. boy born Dec. 25, nam ed Daniel Eugene. To Mr. and Mrs. Keith Llllie, Condon, a 7 lb. 1 oz. girl born Dec. 26, named Tana Dee. To Mr, and Mrs. John Campbell, Heppner, a 9 lb. 114 oz. boy born Dec. 29, named Mich ael Paul. To Rev. and Mrs. Mer lin Zier, Heppner, a 7 lb. 11 oz. girl born Dec. 30, named Sandra Joan. Patients William I. Jewel Kinzua, dismissed; Ray Kirk Heppner; Jerome F. Bush, Con don, dismissed; Wayne Bates, Condon, dismissed; Joan Patrick, Lexington, dismissed; Christina Young, Lexington, dismissed; Johnny Jay Stratton, Heppner, dismissed; George W. Elder, lone; Allen Walter Wolf, Stanfield, Ira Lewis, Lexington, dismissed; Katlirine Lines, Heppner, dis missed; Mrs. Cleo Marlln, Con don, dismissed Patricia Tucker, lone, dismissed; Clyde Caton, Ash land; Harley Wright, Heppner; Theatora Siebel, Hermlston; Rita Gale Rabelih, Condon; dismissed; Danny Leathers, Hardman; dis missed; Anne Little, Heppner, dismissed; Mary Ellen Gates; Fossil, (deceased); Loren Simonds Kinzua; Robert Nahiklan, Condon; Rita Thorpe, Heppner; Maxine H. Ennis, Heppner. MOVES TO HEPPNER Arnold Raymond, formerly with the McMinnville News-Register, is now employed as linotype operator at the Gazette Times. Mrs. Raymond and two small children will move here shortly. peal is for the support of all churches of all denominations and their ministers, priests, and rabbis who are carrying the torch of righteousness. Farm Outlook (Continued from Pag 1) a probable reduction in the num ber of layers. Broiler prices for 1958 are likely to be close to the estimated average price of 19 cent a pound in 1957; however, produc tion is expected to be up slight ly. Turkey prices in early 1958 probably will be below 1957 lev els. If expected cutbacks In pro duction tor 1958 are made, prices of turkeys in the last half of 1958 wdl be higher han in the last half of this year. With large supp lies of edible fats and oils ex pected for the 1957-58 marketing year and a strong domestic and foreign demand, prices of butter this fall and winter will average about the hame as a year earlier. But prices of lard and vegetable oils (cottonseed and soybean) may be somewhat lower, a9 In creased coybean output will more than offset declines in cotton seed. With record corn, barley, and sorghum grain supplies, feed grain prices in 1957-58 are expect ed to average lower than a year earlier, influenced by a record 1957 production indicated in Oct ober, and lower price supports tli an in 1956. Prospective acreage of wheat for 1958, and excellent moisture conditions for winaer wheat, point to another very large crop, possible in the ange of 975 1,000 bushels. At the end of the 1958-59 marketing year, no sub stantial further declines in the carryover is likely. Some further reduction In the carryover of rice is expected by August 1, 1958. Fewer potatoes will be available from now until next spring and prices received by growers should average sub stantially above those of a year earlier. These judgements about 1958 are based on three main assump tions - assumptions that seemed most realistic to the group at the time but none of which Is certain: (1) that the domestic business situation will continue strong, with no substantial letdown in production, prices or employment; (2) that the uncertain internat ional situation will not touch off another burst of inflation; and (3) that there will be no major changes in government programs affecting 1958 farm income. Looking beyonl 1958, they had this to say; Looking beyond 1958 the most serious problem con fronting American agriculture Is to find ways to keep product ion in balance with market de mand at prices considered acc eptable to farmers. In the past two years, some progress has been made toward reducing the burd ensome stocks of wheat, cotton, and rice. But stocks of feed grains continue to rise, and probably will be still larger at the close of the present feeding season. Sooner or later, farmer will either have to reduce the output of feed grains or else feed larger amounts to animals, and thereby increase the output of meat, poultry products, and dairy products. o MOVES OFFICE The office of the Morrow coun ty health department is being moved to second floor space in the oourt house and will open there January 2. The rooms the office has been occupying In Pioneer Memorial hospital will be remodeled to provide addit ional room for nursing home bods. First National Announces New Savings Plan A new savings plan called "Fihstomatic," and featuring the combination of automatic de duction from personal checking accounts with a new high-interest savings certificate was ann ounced Thursday by First Nat ional of Portland. The plan, first combination of its kind in the west, allows cust omers to automatically! deduct funds from a checking account and direct them into the new savings certificates which earn 3 per cent interest, compounded semi-annually. Or, - customers may deduct funds for a regular savings account paying 2Vi per cent interest, it was explained by C. B. Stephenson, bank president. "It is comon Knowledge that the business economy of Oregon and the nation is highly depend ent on the ability and the will ingness of people to put aside savings," Stephenson said. "We feel that anything we can do to make saving easier a.nd more convenient will benefit not only the savers themselves but the business community as a whole. The new savings certificate, which is Issued in multiples of $25 may be held to maturity at the 3 per cent rate, or surrend ered after a 90-day withdrawal notice, earning 2 per cent, in terest. o LADIES NIGHT DATE CHANGED Elks ladies night has been changed for this month onlv. from Thursday, January 2, to inursaay, January 9. Justice and Municipal Courts Clayton James DeMelt, Jr., no PUC permit, forfieted $15 bail. John Lewis Smith, defective foot brakes, $10 fine. Stanley LeRoy Schoonover, no brakes, $10 fine. Wilbur F. Steagall, failure to stop at stop sign, $10 fine. Charles Allen Bloodsworth, vio lation of basic rule, $25 fine. Ray Ivan Papineau, failure to stop at stop sign, $10 fine. ' David Barnett, violation of bosic rule, $25 fine. Barton Lyle Boylen, violation of basic rule, forfieted $14.50 bail. Judith Ann Collins, violation of basic rule, $25 fine. Jack James Van den Biesen, failure to dim headlights, $10 fine suspended. John Meadows, parking restrict ed zone, $1 fine John Kiggins violation of basic rule, $15 fine. o JAMES MONAHAN IN HOLLYWOOD James Monahan, son of Mr and Mrs. James Monahan, left Saturday for Los Angeles where he will be the house guest of Ellie Shipstal and will attend the Bob Hope New Year's Eve party He will also attend the Rose Bowl game on New Year's day and return to the University of Portland January 6. o Lyle Jensen, who is, attending Modar's Barber college in Port land, was at the home of his par ents, Mr. and Mrs. Lincoln Nash for Christmos day Pat Baseel of St. Helen's was also a guest at the Nash home. Local News In Brief Mr. and Mrs. Joseph B. Green and family of Pendleton were here to sDend Christmas day with his mother Mrs. Alex Green, also here were Mr. and Airs, jjod Hagerman of La Grande. They all had dinner together at the Cornett Green -home. Mr. and Mrs. Joe Loss and babv from Arlington, spent Christ mas day with Mr. and Mrs. Al fred Troedson. Carl F. Soauldina Sr. returned Friday after spending the Christ mas holiday witn ms son ana familv. Mr. and Mrs. Marshall E. Spaulding, in Parkdale. Mr. and Mrs. Alfred Mat toon left Sunday for a vacation in Reno Mr. and Mrs. Rav Smith and family spent Christmas with rel atives in Oregon City. Mr. and Mrs. Clarence Rose- wall were Christmas visitors in Weston. Mrs. Sophia Ban of Portland was a guest over the holidays at the home of here sister and bro ther-in-law, Mr. and Mrs. Frank Turner. CHRISTMAS GUESTS AT NEILLS Mr. and Mrs. Roy Neill enter tained their great grandchildren with a Christmas tree for them only. Sixteen of them were pres ent on Christmas day, with their parents and some grandparents. Two of the great grandsons were unable to attend but there were 35 present altogether. Twenty eight of the guests were entertained for dinner at the home of the Neill's daughter and son-in-law, Mr. and Mrs. : Ralph Scott. Mr. and Mrs. Larry Mollahan of Eugene are spending the holidays at the home of his parents, Mr. and Mrs. P. A. Mollahan. Mr. and Mrs. Neal Knlghten and Family of Kennewick spent the Christmas holidays at the home of her parents, Mr. and Mrs. Roy Neill. Also a Christ mas guest at the Neill home was Ralph Moore of Couger, Washington. Jfr, Sim , ,&3Lett "It's a money tree. I raised it to p!ease the Dureau of In ternal Revenue!" Peck's Richfield SERVICE 614 S. E. Court St, Pendleton 1 Blk. N. of Til Taylor Park RICHFIELD PRODUCTS Goodyear Tires, Batteries BUD PECK Everyone Is Invited To Attend nnya Moo'lbiinig OF THE Morrow County Livestock Growers ASSOCIATION Friday, Saturday, Jan. 10 & II HEPPNER A Program Of Interest to All WITH Robert J. Steward Director of the State Department of Agriculture, will be banquet speaker Saturday evening. . FRIDAY FEATURE BULL DAY Bring your bulls to the livestock corrals at the fair grounds and trade, sell or buy. Have them there by 1 1 a.m. so the afternoon will be free for trading. Learn about losses occuring from new livestock diseases a special round table discussion. SATURDAY FEATURE "Do We Want A Beef Commission" Debate by Ted Hyde, chairman of beef aCommission committee and Uma tilla county feed lot operator. SOCIAL HOUR SATURDAY 5:00, ELKS LOUNGE BANQUET - SATURDAY 6:30, FAIR PAVILION DOOR PRIZES GIVEN AWAY BOTH DAYS all events open to the public FAIR PAVILION FRIDAY ELKS TEMPLE, SATURDAY
