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
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EXPERT LUBRICATION TIRE AND BATTERY CHECK
VACUUM CLEAN-UP WINDOWS WASHED
Any or All of These, as Close as Your Telephone
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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.
IT ALWAYS
PAYS TO BUY
AT LUMS'
TELEPHCNE
2233
MAIN AND
BART LETT
Court House News Ef A Complete Food Department Store Filled With a Variety of
wm
I i.lli'ln IklilSlltiLMH JMFMff34 UWkiHl Ii2
X SsSi BLENDED WHISKY
Ol4l . Mil. Mi,.
Serve King to those who deserve
King! For fdtkHH llfuT King Black
label Whisky is truly light really
mellow yet full-flavored and satisfying. Applauded by the
most discriminating, enjoyed everywhere amid finest surround
ings, this is Brown-Forman's King of pre-war whisky, loda)
ring for King for "King" means best In everything!
BROWN -FORM AN DISTILLERS CORPORATION
of Louisville in Kentucky
Bltndd WhliVy, 86 Proof. Th ifrolghl wMiltl in !W product or
(1 aonlhi Of mor eld. 40 ihglgHI rUlli, 40"t grain noitial iplrffa .
I
Sold to You Fresh
When Flavor Is Best
F -sg Ii ZSclFo. Roaster lb 25c
DILL PICKLES 3 for 100
IMIB iEa Ih 30c fesharenceIeS lard
Nice line of Choice Lunch Meats for that Lunch or Snack
Short EiteS lb 20c BEEF lb 38c
It always pays to buy Your Meats at Lumans
STEAKS S lb 35c ROASTS lb ?
Good supply of Choice Hens young and fat
STEM s . Ih 35c RABBITS Ih 48c"
iry
Butterscotch
and
Lemon Filled
COFFEE CAKES
eash 21
S3
fit
ALWAYS A
GOOD SUPPLY OF
GRADE A
2-lb.tin .
I -lb. tin
65c
33c
ISSUE
IB. COFFEE
SCOT'S TOILET T
NORTON'S SALT
FRESH SUPPLY FJQ BARS
M I L K -Tali cans 10 Ail Brands
a G0.d supply Van Camps Pork & Beans
CAMPBELL'S Tomato Soup,?,2
Cartons
nd COO!
Ic
1
ALWAYS
A Large Assortment
of
FINEST QUALITY
Canned F'cs's
Ghees3
Hfred Fruits
in Heavy Syrup
Catsup
p Ranned
Gl.i'i Sauce
Juices
O Preserves
Jns
JsIIiss
Stock Un mm
AVOCADOS
2 for 23c
Ready to Use Medium Size
ORAHOES, Sunkist, 200 size, doz. 37c
SALAD BOWL VEG, s?:r. Va-lb. pkg. 12c
POTATOES T",ToT 25-lbs, S1.03
Phone 2000
I