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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Jan. 18, 1946)
EIGHT MEDFOHD MAIL TRIBUNE Friday, Jan. IS. 1946 Babson Discusses Airlines By Rog W. Babion New York City, Jan. 18 (Special Correspondence) Have had an unfortunate experience at La Guardia airport in New York Citv where I waited from 8 a. m. for a plane due to leave for the south at 7:30 a. m. Then at the very last minute it was announced that "due to weather conditions" the flight had been cancelled. I immediately went to the Penn. atation to get a Full- man berth. There I was told that all space had been sold for two weeks ahead. Let me further add that, although I had my plane reservations two weeks In advance, I would now have to wait another two weeks be fore getting another plane seat. Air travel Is marvelous when the weather is good and there are plenty of planes; but this winter or. long routes it is ter rible. For runs over 400 miles I advise readers to engage Pull man accommodations and not de pend upon airlines. The same general principle may also ap ply to airline stocks as an in- WASHING MACHINE REPAIR FOR ALL MAKES Also Refrigeration Service Younger's Appliance 31 N. Bartlett Phone 2419 vestment. For a few years they should have good earnings and much glamour; but then look out! They may be as uncertain, in the long run, as the weather. Government Competition In Rail Lines Impossible Now that our country Is honey combed with a network of rail roads, it would practically be impossible for the government to build new competing railroad lines. Furthermore, their se curities are probably now sell ing for less than their original cost, not to meiition reproduc tion costs. Remember that the railroads own their roadbeds and terminals, as well as their equip ment. With the airlines the situation Is very different. They own no roadbeds nor terminals. The air is free to all; while tho terminals are publicly owned. At any time the government could start competing air routes with little expense. This means that however large the profits may be during these honeymoon years they cannot last many years. Airplane traffic will in- I crease tremendously; out mis I does not mean that airplane : companies will always make much money. Furthermore, it strongly ruggests that some air I plane stocks are now selling too high. Price Rolation It An Investment Yardstick One of the best yardsticks for judging most stocks is the rela tion of price to earnings. I try to select stocks which are selling AT YOUR SERVICE GROWL BROS. S. Riverside and Stewart Ave. Offer You GARAGE REPAIR SERVICE MOTOR TUNE-UP EXPERT LUBRICATION TIRE AND BATTERY CHECK VACUUM CLEAN-UP WINDOWS WASHED Any or All of These, as Close as Your Telephone DIAL 4700 ASK FOR "DEL" Will Call for and Deliver Your Car Any Time, Any Place Prompt Guaranteed Service Fully Insured M WW Let's Go ROLLER SXATfKG 7:30 lo 10:30 SKATING THURS., FRI., SAT. and SUN. NIGHTS PARTIES by SPECIAL ARRANGEMENT about 10 ' times their annual earnings; certainly 20 times is maximum ratio. Yet, the lead ing airline stocks are today averaging to sell at 40 times their earnings. Two of the most popular ones are selling from (JO to 70 times earnings. This seems crazy to me. Of course, there Is one thing about airplane stocks which ap peals to investors, viz.: In order to buy an interest in 75 per cent of the nation's rail business an investor must buy stocks of 300 different railroads. But he can buy an interest in 75 per cent of the total air business by buy ing the stocks of only seven airline companies. These are American Airlines, Eastern Air lines, United Airlines, T.W.A Pan-Ameican, Northwestern and Penn. Central. Yet, this ad- avantage cannot justify the big rise in prices which all have had during the past 10 years. Inflation Possibilities For Airplane Stocks Airplane stocks are no good as "inflation" hedges. They are Door "socialistic" hedges. Their value lies with the probability of huge earnings during the next few years; but then look out Although very popular they can be very risky for the long-pull Investor. Better keep your money on the ground rather than in the airl Personally, I am not keen for anything that operates on wheels and that depends upon franchises or public regu lations. The best Inflation hedge Is good fertile Mother Earth upon which you can live, near enough to a small city where you can get a job or have small business of your own The next best is a family of God-fearing children, each educated to some one profession or trade. Money invested in good land, good children and good education is far safer than in the stocks of any company operating on the ground, above the ground or under the ground LAST SERVICES HELD FOR DER0B0AM BABY Services tot Pauline DeRo boam, infant daughter of Mr and Mrs. Noel DeRoboam, Rogue River, who passed away Monday at home, were held at the grave side in Rogue River Thursday Arrangements were In care of the Conger-Morris chapel. Also surviving are two sisters, Luclla Jcane and Barbara, at home, and the grandparents, Mr. and Mrs. William Tracer, Rogue River; Mrs. Ida Merton, Grants Pass, and J. E. DeRoboam, California. BUTTE FALLS CAGERS TO PLAY AT PHOENIX Phoenix high school basket ball team will play Butte Falls at Phoenix tonight instead of at Butte Falls as a schedule release printed yesterday indicated. The tilt Is a county "B" league game. Permanent auto license plates have been in use in Connecticut since 1937. Made of aluminum, they have proved non-rusting and weatherproof. Carlos Morns Is Netu President Of Funeral Directors Carlos Morris, of the Conger- Morns iuneral Home, was elected president of the South ern Oregon Funeral Directors at the annual meeting at Hol land Hotel last night. Virgil Hull, Grants Pass, was named vice president and W. W. Ward Klamath Falls, was elected secretary-treasurer. A. E. Lundberg, Tillamook, president of the Oregon Funeral Directors association, spoke on highlights of the recent national convention. He was accomp anied by Mrs. Lundberg. Miss L. Lauritsen, executive secre tary, also was present. Retiring president C. M. Llt willer, Ashland, presided at the meeting. SERVICES SATURDAY FOR SCRANT0N BABY Graveside services In I.O.O.F cemetery will be held Saturday at 11 a. m. for Berta Kay Scran ton, infant daughter of Mr. and Mrs. Albert Scranton of Klam ath Falls. The child, which died Thursday at the home of a friend here, was born Nov. 19, 1944, In Klamath Falls. The Rev. Edwin C. Cox will officiate. Perl Funeral Home is In charge of arrangements. Court Records Justice Court Leona B. Mall, drunk on pub lic highway, $25 and costs. Roy D. Graham, no PUC per mit, $10 and costs. Gordon B. Bowman, no regis tration card, SI and costs; no trailer license, $1 and costs. William Li. McDonald, no chauffeur's license, cited. Albert O. Bates, no license on motor vehicle, cited. John Olson, no operator's li cense, cited. Claude A. Ragsdale. driver axle overload, cited. WINONA HENDRICKS0N SUCCUMBS IN TALENT Ashland, Jan. 18 Winona Belle Hendrickson, 24, passed away early today at her home in Talent. She had been in failing health for the past year and a half. The deceased, born In Cedar- ville, Kans., is survived by her husband, Paul, of Talent and a step-father, E. C. Gray, Malin. Services In charge of the Lit willer Funeial Home will be held at 1:30 p. m. Monday with interment in Mountain View cemetery. The Rev. George W. Bruce will officiate. MISSIONARIES SPEAK TO LUTHERANS TONIGHT Mr. and Mrs. S. O. Thorlaks- sbn of the Lutheran Church will present details of the missionary work of the church at a meeting tonight at ZIon Lutheran church at 8 p.m., to which the public is invited. The Thorlakssons are making preparations at Berke ley, Calif., to begin mission work in Japan at the earliest oppor tunity. The 8 o'clock meeting will be preceded by a potluck fellow ship dinner at 6:30 p. m. at the church. LAST WACS RETURNING San Francisco, Jan. 18 U.R) Two transports are enroute to the United States from Man ila bearing the last contingents of WACS to see service in the western Pacific, the San Fran cisco port of embarkation dis closed today. Ted Gamble Given Gold Medal For Bond Sale Success Philadelphia, Jan. 18 (U.R) Ted R. Gamble, director of the U. S. treasury's war finance di vision, today held the Poor Richard club's 1946 gold medal of achievement for supervising Gamble, of Oregon, was pre the sale of $185,000,000,000 In war bonds. sented the medal by Roger W. Clipp, club president, at the or ganization's annual dinner last night. The award was won last year by Bob Hope, radio and screen comedian. NEW DIMES Washington, Jan. 18 U.R The first dime bearing the por trait of the late President Roosevelt will be turned out to day at the U. S. mint. The coin will be part of the president series, including the Lincoln penny, Washington quarter and Jefferson nickel. KINKLE'S PARCEL DELIVERY DAY or NIGHT Phone 4956 Prompt Courteous Service T. D. Hinkle W. H. Judy ! I! I LUMBER 2x6 to 2x12 16 Ft. Rough 1 Comm. and Btr. 2x4 to 2x12 1x4 to 1x12 Surfaced Dry Flooring and Siding as it Arrives at Our Yard NAILS Cedar Posts AND ROOFING Redwood Posts WE CARRY LOW PRICE LUMBER r. o. snmmi Court and McAndrews WANTED TO BUY DOUGLAS FIH PUGET TIMB Box 566 Central Point, Ore. 1Z osssltoi Marriage Licenses Mario Juluis Martina and Jessie Anna Fry, Robert W. McCormlck and Marie Alma Jones. Albert Thomas Armstrong and Harriet Esther Harris. Lawrence Nelson Rathbun and Bonnie Nellie Carlson. James Leroy Swindler and Doris Corrine Cooper. Maxwell Drake Pavne and Clara Mae Simpson. Clarence Albert Tingleaf and Juanita Mildred Brittsan. Walter Gordon McNely and Norma F. Emmclius. Morris B Terry and Lilly Bell Doane. 1197 RETURNEES DUE San Diego. Ca., Jan. 18 (U.R) Six ships bringing home 1197 navy, marine and coast guard personnel were due here today. More than 1210 veterans were unloaded here yesterday from 15 craft headed by the veteran escort carrier Kalinin Bay. 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