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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (March 3, 1955)
MEDrORD (OREGON) MAIL TRIBUNE CTVB Stock Investor Has Only To fear Himself, Exchange Head Says Thurtday. Marc 3. 1953 Air Force Jet PBane (Production iVOay Lead To (Faster Commercaal Transports Washington (U.R) A new jet Rep. Henderson Lanham (D- likely production facility for the .plane to be designed or the Air .force is expected to lead to de velopment of a- commercial transport capable of spanning the continent in about four hours. Air Secretary Harold E. Tal bott said yesterday the Air Force has contracted with Lock heed Aircraft to design an ad vanced jet tanker plane for in flight refueling to extend the range of jet bombers If successfully developed for military use, the ship almost certainly would be produced also as a passenger transport which could fly at speeds ex ceeding 600 miles an hour. Such a plane would be the world's fastest commercial jet transport. Talbott also disclosed plans to order an additional $460, 000,000 worth of jet tankers from Boeing. The 550 mile-an-hour Kc-135 Stratotanker al ready is in production and new oraers to be placed over an ex tended period" will bring total contracts to $700,000,000. 200 Expected To Be Built Informed sources expect Boe ing to build at least 200 of the aerial gas stations which will team with the mammoth eight jet B52 Stratofort to comprise a global hydrogen and atomic bombing force. The Stratotanker was devel oped as a $15,000,000 private venture and is being offered in a commercial version, carrying up to 130 passengers. Authorities believe the Lock heed plane, a new departure in tanker-transport design, would be built at the huge Marietta, Ga., plant if the Air Force eventually orders production. Designed for very high speed, the plane will carry its four en gines as an integral part of its fuselage, leaving its sharply rwept-back wings unmarred by the familiar jet pods on other U.S. planes. Talbott said the Lockheed bid was "technically advanced . . . of great interest" and the Air Force "probably would want to buy cne or more prototypes as soon as engineering progress warrants." Built at Seattle Only At present, however, the Air Force will concentrate all jet tanker production at Boeing's Kenton plant near Seattle. Ga.) expressed regret that Lock- Lockheed plane if and when it heed did not get a share of the eventually is ordered. new tanker production order. He thought the outcome would be disappointing to Marietta. Other sources, however, said the Marietta plant, 17 acres un der one roof, would be the most The two Air Force projects open the way for American in dustry to capture the jet trans port lead from Britain. Britain pioneered that field but suffered a setback when its publicized Comet jet liner was grounded after a series of accidents. Later model Comets, greatly strength ened, are being built. Military orders for jets will help to bring down American production costs and presum ably hasten the day when U.S. airlines buy jet transports. FALSE DAWN Lighting the sky like a dawn from the wrong direction, the flash of the "little bomb" detonated at Nevada Proving Grounds, is seen from Salt Lake City, 350 miles away. The city can be seen in the foreground in this view looking southwest. Puppy in Trouble 'Telephones' Operator Welland, Ont. (U.R) A lo-1 der arrived on the scene, he cal telephone operator became alarmed when she heard a moan ing sound as from someone in pain came over the wire. She traced the noise to the telephone cf an electrical workshop near here, then called police. When Constable William Cal- iouna a young boxer puppy, owned by the operators of the shop, had been locked in the building. The pup had knocked the phone off the hook and lay down beside it. The dog's whim pering had aroused the opera-1 tor, Nixon En Route To Haiti on Last Stop on Mission Cuidad Trujillo, Dominican Republic (U.R) Vice-President Richard M. Nixon flies today to neighboring Haiti, last stop on his good will swing through Cen tral America and the Caribbean. He returns to Washington Satur day. There was little doubt of the success of Nixon's mission to the Dominican Republic. Yesterday, the Roman Catho lic primate of Santo Domingo and the Antilles gave Nixon his blessings and a prediction that the Californiari would be some day "the full fledged" President of the United States. Former President Generalis simo Rafael L. Trujillo Molina commented jokingly that he was "jealous" of Nixon's popularity. "You have conquered the peo ple," Trujillo said. "I think you could be elected president here." "I'm not running for any thing," Nixon replied. Nixon has steered clear of comment on his future political plans during his tour. In Puerto Rico, he said he "certainly hopes" President Eisenhower runs again in 1956. CAR HITS BANK The driver and passengers of a California car were shaken up and bruised last night when a muffler came off, causing the car to ram the bank next to the highway in the Siskiyous, ac cording to reports made to state police. The accident happened at about 10 p.m. Driver was Elbert M. Dorsey, 34, Redding, and his passengers were Aletha B. Pow ell and J. D. Hammocks, both Willows, officers said. Damage to the car was minor. 0 FRL & SAT. SPECIAL! 7flPPRREL Cut Yourself A Slice of Values! Ml DON'T ' fl - miss T:r F TH,S MM' BG ff EVENT! REGULAR $1.50 VALUE 1st PAIR...... $1.50 2nd PAIR. .;. .03 $1.53 3 PAIR ...... $2.03 These Lovely Nylons are all . . First Quality Hose . . . New Spring Shades of Mist and Taup 60 Gauge, 15 Denier 51 Gauge, 15 Denier lib- J74 nt 7 APPAREL REMEMBER . -FREE PARKING PICK'S and ROBINSON BROS. 112 EAST MAIN ST. Senate Banking Committee Told Market Healthy Washington (U.R) G. Keith Funston, president of the New York Stock Exchange, said to day a man with money in the stock market has nothing to fear except himself. The lead-off witness in a full scale Senate investigation of a current stock boom, Funston in vited millions, more Americans with the cash and the sense to use it to come in and buy stocks. The stock market is healthy, he said, and the 1929 crash isn't likely to be repeated. This is true, Funston said, though some investors "pay more attention to tips and rumors" than they should. He credited the boom to the fact that the public feels business is good and the future bright. "It is true that some of our citizens may act unwisely and suffer loss," Funston said in a prepared statement. "But most will act intelligently and pros per. We cannot hope to protect each imprudent investor against himself." A 'Friendly' Inquiry On the eve of the Senate in vestigation, the bull market clos ed Wednesday in New York at new highs. This continuing boom . prompted the "friendly" inquiry by the Senate Banking committee headed by Sen. J. William Fulbright (D-Ark.). The committee wants to know wheth er the market is on a boom and bust cycle. Funston emphasized that member firms of the exchange "are not trying to sell stock indiscriminately to all comers." "Rather," he said," he said, "the exchange community is trying to broaden the base of corporate ownership among mil lions of financially able Ameri can families. "Market reaserch indicates that there are up to 20,000,000 Americans who are probably in a financial position to consider the purchase of common stocks. These the exchange and its com munity wish to encourage," he said. "But we definitely dis courage those who cannot af ford the risk of purchasing cpm mon stock." -The exchange estimates that about 7,500,000 individuals now own shares in publicly-owned corporations. This is in addition to financial institutions. To Protect Investor In contrast to 1929, Funston said, the exchange now polices itself. Activities also are regu lated by the Securities and Ex change Commission and the Fed eral Reserve board. In addition, he said security analysts members of a J'new profession" provide "t h e public with a tremendous flow of accurate information." "In short," Funston added, "endeavors have been made to protect the investor against ev erything but himself." . At the outset of the hearings, Fulbright said surface indica tions so far are that "1929 and 1955 seem to present separate cases" in the stock market. Fulbright promised there will be no browbeating of witnesses at the three weeks of public hearings. None has been sub poenaed; only invited. "None is here in the role of the accused," he said. "Our aim is education, not accusation." The committee is not interest ed basically in prices, he said, but rather in whether the stock market is "faithfully and wise ly" serving the public interest or whether it could do a better job in this respect. Communists Routed In India Election Picks' Will Mark Third Anniversary A third anniversary sale which opened today at Pick's apparel shop, 112 East Main St., also observes the opening of a new addition to the store which has doubled the floor space of the shop. The addition, also in the Allen hotel building, faces the Southern Pi-cific right-of-way and is directly across the street from Robinson's parking lot where Pick's customers may park without charge. The store now may be entered from Main or Front streets. The new section of the store is devoted to women's dresses, coats and suits. The modern in terior is finished in a combina tion of cactus green and pink. Mrs. Helen Arthur, now as sistant buyer and assistant to Ralph Pickell, the owner, is well known in the valley in connec tion with women's retail busi ness. She also has had charge of stores in San Francisco and Salem. Five other sales women are employed at the store. The first timber reserve in the United States was establish ed in 1891 in Wyoming 1, 239,000 acre. New Delhi, India (U.R) A wholesale rout of the Commun ist party in elections in its stronghold of Andhra State to day stunned both the Reds and victorious Congress party. "It can't be true," top Com munists wailed as results of the state's first election poured in. Leaders of Prime Minister Jaw aharlal Nehru's Congress party were jubilant over success such as they had never anticipated even in their most hopeful mo ments. Latest returns showed the Congress party won 62 of the 85 seats in the state Legislature counted so far. The Communists got five seats, the Praja Social ists five and Independents 13. In the last legislature the Con- Golden Gate Park at San Francisco is one of the world's most picturesque parks, with beautiful gardens, lawns, lakes, groves, playfields, footpaths, eq uestrian trails and motor roads. gress party had 46 seats and the Communists 45. The Reds top pled the government of, the Sobth India state last November and forced the elections in hopes of increasing their strength. 1 gS5aB 1 SNIDER'S ICE CREAM THE NEW mumm Iglll Patty-Cake BAKERY 11 Almond Street - Just off East Main NOW OPEN Daily 9 a.m. to 7 p.m. thru Saturday Featuring: Bread Pies Cakes Rolls Special Breads Wedding Cakes Birthday Cakes Cakes for Special Occasions SNOWS Minced Clams or Clam Chowder 2 cans HUDSON HOUSE Sliced or Whole BEETS... No. 303 Tin 4f nee PICTSWEET FROZEN STRAWBERRIES pkg .34' WHITE KING LIQUID DETERGENT can Dole PINEAPPLE JUICE 46 oz. Tin 51(5 for DELRICH ry f-i Margarine TO 3-1 lb. pkgs. P SUNSHINE Krispy Crackers, 2 lb. pkg. 49c Cup Custard Cookies 35c U Butterscotch Caramels l: 29c SOLID HEAD LETTUCI 3 heads LARGE SIZE AVOCADO! 3 for LARGE SIZE obaqoes 2 a. 59 FRESH ROASTED 9 EMITS $noo ib. 3 Ik. sa r Alaska Red 49c King Salmon sliced ib. 59c FANCY HEN TURKEYS Ave. 12-14 lbs. FRESH PACIFIC OYSTERS Small, Medium Size... PT. 55 c Mb. U.S. Inspected Skinless Wieners PLUS 1 IB. Sauerkraut Both 45c rT he DEST in FOODS 526 SOUTH RIVERSIDE
