EIGHT MEDFORD MAIL TRIBUNE
Babson Discusses Market Breaks
No Need for Duplicating 1929 Maneuver
By Roger W. Babson
New York City, Jan. 12,
(Special Correspondence) Is
another severe break In jtock
market prices necessary? Per
haps someday, but not just now.
Need the market go up to a
peak, as in 1829, and then come
down with a crash? Certainly
not. It is possible the "top" of
the market could be a level
plateau extending over months
or perhaps years Instead of a
"peak".
May Hold High
For Soma Time
Heretofore bull markets have
culminated in peaks. Due to
this fact, my friends here in Wall
Street think this must always be
true. But because of cheap
money and the excellent work
that the Securities & Exchange
Commission is doing for small
investors, my Wall Street
friends may be mistaken. The
top of the present bull market
may consist of a levelling off
process whereby stocks could
continue to sell at their highs
for some time.
Most of the business leaders
are sore at Walter Rcuther and
the C.I.O. crowd in his attempt
to mix up wages with profits. I
grant this is an entirely new de
parture. The typical capitalist
doesn't like anything new un
less it changes the rules in his
favor. But may not Rcuther be
a friend of the small investor by
his prevention of abnormal
profits and the sustaining of
purchasing power?
Market Breaks
Are Possible
This is not saying that a se
vere break in the stock market
cannot come. It is very possible
that the United States may get
into a jam with Russia or some
other country which could bring
about World War III. Then there
could be a collapse in city real
estate and many industries, cspc-
eially those in vulnerable cities
near the sea coast. But with this
there should be a scramble for
self-sustaining small farms away
from the evil effects of atomic
bombs. Why people do not give
more thought to the future is
beyond mo. Surely, the only
TRULY safe "life insurance" is
good mother earth. I have some
for each of my grandchildren.
Perhnps a more likely reason
for a market break would be a
fear of Communism or Social
ism. When people In tills coun
try are flnully convinced that
Europe is going Socialistic and
that the cloud is constantly mov
ing westward, Investors will be
gin to sell. Banks, railroads,
utilities, coal and oil stocks, and
the stocks of such other large
industrials as are now being
"nationalized' in England and
Kuropo will be liquidated first.
Then there would be no buyers
for these stocks, prices could
crumble quickly; and the entire
market could severely decline.
No Halfway Cround
Seen For Future
But eliminating the above
scares, it is very possible with
'the present money situation, aid
ed by the S.E.C. and the C.I.O.,
that the stock market may be
stabilized at a high level for a
few years, as it stabilized at a
low level from December, 1038
to December, 1042. Mind you,
1 am not guaranteeing anything
Wood and Coal Combination
HEATERS
Younger's Appliance
31 N. Eartlctt
Helps brtak up cold's
local congestion so
AWAY GOES
COUGH'S TIGHTNESS
MFYVfifWVM Just rub Penetro on
C- 4 chlMi cheit, throt
tiCiJ- 1 nml back and you in
' ..,1 help breaK up local
1 corurefltion. ease chest
muicle aorencsa. (2) re-
Mk,.j lipvn pnln at nerve
r r4 endi in the akin, (3)
jfJ looirm phlegm ,
Jm 0k ") pora help you Urea t ho
tro acta faat, for it a
Crindma'i famous
mutton auvt Idea made
v?n better by modern
Hence. Tho family,
i especially, en
ielro. Z.Sc. dou
pply 3ic. Demand
1 -i
Pfwi-Cola COTipann, Lone Island Citf, N. Y.
Trtnchited Bottleri Pepsi-Cole Bottling Co. ol Medlord
Monday. Jan. 14, 1 948
excepting that conditions today
are different from ever before.
Either we are moving into a
more stable world or else a large
percentage of our present world
is going to be wiped out. With
atomic energy facing us, there
can be no half-way ground.
But who created this atomic
energy? We know that the an
swer is "God created it"; in fact
it may even be a manifestation
of God. If so, it has unlimited
possibilities for good for mak
ing a healthier, happier and
more prosperous world. Hence:
I believe that atomic energy may
bring about the spiritual awak
ening which this old world so
much needs. If so, this discov
ery alone will be well worth the
entire cost of World War II
both in lives and property. Mar
ket breaks seem very small mat
ters to me compared with these
truly magnificent possibilities.
SOCIETY
and CLUBS
(Continued From Sunday)
Musicale Given
At Taylor Home
Third of a scries of monthly
musicalcs was given at the studio
of Mrs. Nell Taylor, piano teach
er, Saturday afternoon. Mrs.
Taylor's home is at 11 Modoc
avenue.
Participating were Sandra
Hubbard, Sharon Jean Mcrkel,
Betty Jane Clark, Mira Jean
Frohnmayer, Marilyn Payne
Shirley Boitano, Sylvia McCabe,
Gordon James, Diane Finley,
Jcaninc Findley, David Whiscn
ant, Jacqueline Foertner, Glcnna
James, Harriett Dowson and
Clare Cordier.
Union Meeting
Held Thursday
Mrs. F. I. Caulkins was In
charge of the meeting Thursduy
of the Womans Christian Tern
peranco Union at the home of
Mrs. Edna Pursel. Legislation
was the meeting topic.
Excerpts from letters appear
ing In the Union Signal were
given followed by the afternoon
devotionn'l by the Rev. Edwin
Cox. A letter from the super
intendent of the children's farm
at Corvallis, written in upprccla
tlon of gifts sent the farm, was
read to the group.
Refreshments were served by
Mrs. Millie Tucker.
News of 4-H
CLUBS
Antelope 4-H
Maureen Friend, Reporter
Election of officers was held
at the last meeting of the Ante
lope 4-H club with Patricia
Greb, former vice president,
calling the meeting to order.
Nadiuo Davit's was named
president; Lois Nelson, vice
president; Noreno Hanscom,
secretary; Maureen Friend, re
porter; Kathleen Dovics, pro
gram chairman, and Dorla
Friend, yell leader.
Next meeting will be held Jan.
19 at the Friend's home.
Court House News
Divorce Decreet
Helen B. Davidson vs. John
E. Davidson.
Thada A. Griffiths vs. Clar
ence D. Griffiths.
Mildred Kenton vs. Thomas
Kenton.
Viola Evcrson vs. Floyd Ever
son. Clarice V. Gardner vs. Don
M. Gardner.
Police Court
Dahlborg, drunk,
Stcn
fine.
$10
Harry T. Jones, drunk and
disorderly, Jailed.
Edward J. Corvelyn, drunk
and disorderly, five days Jail.
Richard W. Ruff, disorderly
conduct, five days Jail suspended
Us Mai) Tribune- YVant Ads.
SMALLBUSINESS:2-ST0RY BUILDING
INVITED 10 HEAR
LOCAL ECONOMIST
Declaring it Is time "small
producers, manufacturers and
processors pooled some of their
interests by coordinating their
businesses, revitalizing small
towns and recovering credits,
industrial and commercial acti
vities lost," Frank Nelson Tay
lor Cummings, engineer econo
mist, of Meclford will present a
program to small producers,
manufacturers and processors of
southwest Oregon at a meeting
at 8 p. m. Jan. 24 at the Mcd
ford hotel.
In announcing the meeting,
Mr. Cummings, a former resident
of Los Angeles and Portland,
and who is author of a brochure
on economic stabilization, said
many of the most oacKwara
states have rich stores of na
tural resources which have not
been considered. "Local com
munities," ho said, "arc resource
institutions from which the peo
ple of the country must draw
their supplies for luxuries and
necessities.
"The indifference of local peo
ple toward utilizing their natural
wealth for its full value in and
to their community has forced
an overburden of outside in
terests to absorb the life-blood
from the local people," Cum
mings declared.
OF
Property owners In Medford
were urged today by Director
Folger Johnson of the Federal
Housing Administration to co
operate with FHA in obtaining
maximum use of existing struc
tures to help relieve the hous
ing shortage especially for re
turning veterans.
In accordance with instruc
tions from Washington head
quarters, the FHA in a move de
signed to provide additional liv
ing accommodations for return
ing veterans would resume in
suring property Improvement
and rehabilitation loans on
more convenient terms,' he an
nounced. Such loans may be
for amounts .up to $5,000 repay
able In small monthly install
ments extending over a period
as long as seven years.
The present policy of the
FHA is directed toward encour
agement of the private building
Industry to produce as many
new dwelling units as possible
as quickly as possible, particu
larly in low and medium brack
ets of both sales price and rent
als. Property owners desiring
loans should consult their local
lending institutions. As a means
of aiding In this the FHA will
insure such property improve
ment lonns up to $5,000 for a
term up to seven years under
the following conditions:
1. Tho property must be In a
"war housing area" which
has been designated by the
President.
2. The improvements must
provide additional living
accommodations.
3. Occupancy priority must
be given to veterans of
World War II.
DOOLITTLE HONORED
New Orleans. Jim. 14 (U.R)
Lt. Gen. James II. Doolittle, who
once flew a soupedup speed
plane in the air races here, re
turned today to dedicate an air
port of the future.
SMOOTHEST
L C. TAYLOR CO.
Dod9c Plymouth
AT
Phoenix, Jan. 14 A two-story
pumice brick business structure
is being built here at the 1st
street and highway 00 intersec
tion by Mr. and Mrs. G. G. Skin
ner.
The 66 by 42 foot building
will house three businesses and
apartments, the Skinners say.
Occupying the structure will be
a fountain and ice cream plant
a restaurant and novelty shop
with a novelty factory m the
rear.
Mr. Skinner will operate the
fountain and ice cream plant
himself and will rent or lease
the remainder of the building to
an undisclosed individual.
Mr. Skinner is a city council
man here and Mrs. Skinner is
postmaster.
Gold Hill Forms
New P.-T.A. Unit,
Officers Elected
Gold Hill, Jan. 14 Parents
and teachers of Gold Hill meti
Jan. 10 in the school building to
form a new P.-T.A. unit, accord
ing to the Jackson county Coun
cil of Parents and Teachers. At
tending from Medford were
Mrs. James Hoey, Mrs. Dec New
ton, Mrs. W. R. Glass and Mrs.
H. O. Colburn.
Officers elected include, pres
ident. Mrs. Floyd G. Lance; vice
president, Mrs. Melford Hood;
secretary, Mrs. Noel Kellogg;
treasurer, Wilmcr Bailey.
(tegular meetings have been
scheduled for the second Thurs
day of each month.
Principal of the combined
grade and high school is Mr.
Ferd Jones.
BRISBINE WILL BUILD
OLD STAGE ROAD HOMES
Francis Brisbine, local con
tractor who is developing a
homcsite tract on the Old Stage
road near the north city limits
of Jacksonville has his initial
residence near completion, he
announced today, and he invites
the public to inspect the model
structure.
City water and lights are
available at the site and the con
tractor plans to construct homes
according to the purchaser's
designs, on tracts of one to one
and one-half acres. He will
also aid in financing the pur
chase. INDIANA TEACHER JOINS
TALENT SCHOOL STAFF
Talent, Jan. 14 Carl Summc,
who formerly made his home in
Indiana, has been added to the
grade school teaching staff here
according to Principal Roy Parr.
He is teaching the sixth and
seventh grades.
Summe attended Transylvania
college in Kentucky.
30 SHIPS TIED UP
San Francisco, Jan. 14 (U.R)
Approximately 30 ships were1
tied up in San Francisco Bay i
when 7,000 CIO longshoremen !
quit work for 18 hours Saturday 1
to attend a mass meeting consid
ering demands to be made on em
ployers in tile union's new con
tract now under negotiation. 1
BOYS AND A GUN
Anaconda. Mont., Jan. 14
!U.R! Gerald Mosted, eight-year
old son of Mr. and Mrs. Ted
Mosted, of Anaconda, was kill
ed accidentally today by a bul
let from a .22 calibre rifle held
in the hands of a 10-year-old
playmate.
Nebraska, known as the Corn-
huskcr state, is officially desig
nated as "The Tree Planter's
State."
CAR AFLOAT
112 South Riverside
IN OUTNUMBER
WOMEN IN SQCE
WINTER QUARTER
Southern Oregon College of
Education, Ashland, Jan. 14
Enrollment for the winter quar
ter at Southern Oregon College
doubles that of a year ago with
the men outnumbering the wo
men. This ratio is unique in
the history of the institution.
Fifty-five of the seventy odd
men enrolled are veterans. The
college has resumed most of its
prewar activities. The social
program started off with an all
school skate party this week
and next week the plans call
for a dance.
Nearly three squads of men
turned out for the first basket
ball practice last Wednesday.
Jerry Gastineau, former coach
at the Ashland high school is
basketball mentor for remain
dr of the season. The college
team plans to play independent
teams this season, because of
(n0 jate s(art.
Students may register for
another ten days in any of the
curricula offered. These include
teacher education, junior col
lege or lower division, medical
dental assistantships, merchan
dising, secretarial science, and
radio-electric service. Many
men are enrolled in prepro
fessional courses leading to en
gineering, business, and law,
which they plan to pursue at
(lie state college or university.
All students have been satisfac
torily housed. Living accommo
dations are still available.
E
One of three sectional meet
ings of the Southern Oregon
Production Credit Association
will be held in Medford, Janu
ary 23, at the Holland Hotel,
Arthur M. Boner, secretary-
u
treasurer, "has announced. Sec
tional meetings were decided
upon so as to give a maximum
of the association members an
opportunity to participate.
Election of two directors and
the progress reports of the as
sociation will be high lights of
the meeting.
Otto F. Allgaicr, treasurer of
the Production Credit Corpora
tion of Spokane will be present
to participate in discussions and
address the meeting.
A complimentary luncheon
will be served at 12:00 noon.
T
E
Grants Pass, Jan. 14 Janu
ary term of circuit court open
ed at the county courthouse
this morning with Judge H. K.
Hanna of Medford, judge for
the Josephine and Jackson
county circuit, presiding.
A venire of 31 men and wo
men has been selected by the
sheriff's office and county
clerk's, office to provide jurors
for the session. From these, the
seven for a grand jury will first
be chosen.'
District Attorney O r v a 1 J.
Millard said that he had several
matters to take before the
grand jury of which all were
secret except the case of Alfr.ed
Gillham who is now in the Jose
phine county jail awaiting
grand jury hearing. He waived
preliminary hearing recently in
justice court on a charge of as
sault with intent to kill follow
ing the early morning shooting
December 27 which resulted in
the wounding of H. A. Wil
banks. County Clerk Ben W. Cou
tant said that he knows of no
jury trials in civil matters to
come before this session.
Robert Henselman
Pays Brief Visit '.
C. Robert Henselman, navyi
chief storekeeper, visited hisj
uncle, E. G. Henselman, 415 Ed
wards street, and other relatives !
Friday en route to San Diego for j
re-assignment. Henselman was !
winding up a 33-day furlough I
during which he had spent
iiTtHillij-iniiaUK
ENRICHED
ENRICHED
BREAD
To Be Certain of
the Best, Choose
the Package With the
Distinctive Red End
Christmas with his parents, Mr.
and Mrs. Charles F. Henselman
Minot, N. D., his first at home
in eight years.
The navy man was transferred
some months ago from the de
stroyer Gillis to the air service
and has been on many missions
in the Pacific, his last being as
tail-gunner on July 26, 1945
with the Mitsubishi aircraft fac
tory at Nagya, Japan, as the ob
jective. Chief Henselman, who
holds the Purple Heart, Pres
idential Citation, American De
fense, American Theater, Asiatic
Theater and Letter of Commen
dation signed by the president,
CLEANS AS
5s.
DYANSHINE
PASTE SHOE POLISH
ModebytKemoV"'''"0"
LIQUID DTANJni."
. . u: kas
Liquid uy"" - - - (
been " Your
dealer '- -
just as " ,.
lerials . available,
Ia Dance Classes Are
Still Being Formed
Why not be a popular partner at your
next party?
2 Learn to dance the easy way and be a
sought after dance partner.
3. Hates on Fox Trot, Walt and Rumba and any other Ball
room Dance you may want to learn are surprisingly low.
) fnone 5864 between 6 p. m. and 10 p. m
M,.Vpl- every evening except, Sunday.
mm,.
7-4. Medford Dance Studio
MERRICKS
ITT5.
Is finishing his tenth year in the
navy. He was born and raised
in Medford.
Reclamation and Irrigation
work worth $17,000,000 is plan
ned shortly for Wyoming.
t IWICE o, MAN Y. . .TWICE GOOD
Hq1
BLADES
OOUIll IDOI tINOll IDOI
l0for21 StWl9
Distributed by McDonald Cand: Ce,
and sold by all live dealers.
IT SHINfS
Ask for
BLDG. Phone 5864
1
L