Very Few Stocks Out off U ne. FrScewSse,
Senate BankSng Committeemen Uniformed!
Monday, March 7, 19S3
MEDFORD (OREGON) MAIL TRIBUNE THREE
For the Best Buy Always Shop the Big Y
Sen. George Sees No Acceptable
Compromise on Income Tax Cut
Hartley Rites at
Ashland Tuesday
Ashland Memorial funeral
services for Charles Clinton
Hartley, 74, who died here Fri-
dry, will be held at the First
Presbyterian chuch in Ashland
Tuesday at 2 p.m. with the Rev.
James Jandrow officiating. In
terment " will be in Mountain
View cemetery, under the direc
tion of Litwiller funeral home.
The deceased was born near
Olathe, Kan., on Sept. 13, 1880
He. came to Oregon with his
family in 1892 and settled on
Griffin Creek. On Nov. 11, 1908,
he married Clara Louise Poley
of Ashland and they resided on
a farm near Phoenix for a num
ber of years. He attended South
ern Oregon Normal school at
Ashland and was an elder in the
Presbyterian churches of Phoe-
. nix and Ashland for 35 years.
He has lived here for the past 12
years.
Survivors include two sons, F.
Collins, Walnut Creek, Calif.,
and Joseph C, Portland; three
sisters, Anne Stewart, Cottage
Grove; Mattxe Mecham, Berk
eley, Calif., and , Ada Hartley,
Ashland, and a brother, Weldon,
Jacksonville.
Jelke Vice Trial
Starts Again Today
New York (U.R) The cur
tain goes up today on an un
expurgated version of the Jelke
vice trial.
Minot Mickey Frazier Jelke,
25, heir to a multi-million dol
lar oleomargarine fortune, ap
pears in Criminal Court to face
for the second time charges of
compulsory prostitution.
This time the public will get
the complete story of the vice
ring which allegedly provided
Cafe- Society with' play-for-pay
lovelies whose . fees sometimes
were reported to have run ; as
higruas $500 an evening.
At the former playboy's first
trial, Judge Francis L. Valente,
"in the interest of good morals,"
while the prosecutions presented
its case. It was on those" grounds
that the oleo heir appealed his
conviction snd three-to-six year
sentence and won a new trial. ' I
Washington (U.R) Sen. Wal
ter F. George (D-Ga.) said to
day he can see no acceptable
compromise that would win ien
ate approval for an income tax
reduction.
He made the comment to a re
porter as the Democratic leader
ship of the Senate hunted for a
formula which might muster
the votes to pass the Senate.
George and Chairman Harry
F. Byrd (D-Va.) were the two
Democrats on the Finance Com
mittee who joined Republicans
last week in the 9-to-6 commit
tee vote against the House ap
proved income tax reduction.
The administration opposes the
reduction.
Feces Almost Certain Defeat
The House proposal would
lower income taxes for all tax
payers and dependents $20 a
year starting next Jan. 1. It was
tied to the administration bill
to extend corporate and excise
tax rates now scheduled for re
ductions April 1.
With nearly all Republicans
and several Democrats opposing
the House provision, it faces al
most certain defeat in the Sen
ate unless a compromise is
found that can pick up more
votes.
Sen. Robert S. Kerr (D-Okla.),
spokesman for the Finance Com
mittee Democrats favoring the
tax cut, told a reporter there
has been much talk among Dem
ocrats about a, compromise. He
paid, however, that, nothing had
jelled yet and that none of the
ideas discussed so far appeared
to have the necessary strength. '
Kerr expressed hope that the
return of Senate Democratic
leader Lyndon B. Johnson this
week from a medical checkup
at Rochester, Minn., would give
new impetus to the compromise
efforts:'
Would Reduce Benefit
But George said:
"I can't see any acceptable
compromise. Any compromise
will further reduce the already
insignificant benefit." "
Meanwhile, Secretary of the
Treasury George M. Humphrey
said yesterday that the tax cut
would be "just the wrong thing
for the little folks" it was de
signed to help.
Humphrey said the inflation
ary impact of the revenue loss
would more than offset the ben
efits .taxpayers would derive.
Non-Farm Work
On West Coast Drops
San Francisco (U.R)--Non-
farm employment on the Pacific
Coast dropped seasonally be
tween mid-December and. nlid
January but for the second con
secutive month was above the
same period a year ago, the U.
S. Department of Labor re
ported today.
The seasonal decline in Cal
ifornia, Oregon and Washington
was 191,000, lowering the total
number of non-farm employees
to 3,956,000. Normally seasonal
layoffs amount to 245,000.
California laid off 136,000,
but its total of 3,815,000 was
slightly above the January, 1954,
level. Oregon dropped 23,000
from December payrolls, but its
employment level of 437,000 ex
ceeded the year-ago figure.
Similarly Washington laid off
32,000, but its labor force of
704,000 was higher than a year
ago.
Pier Angeli Shows
Steady Improvement
Palm Springs, Calif. (U.R)
Desert hospital attendants said
today actress and expectant
mother Pier Angeli was "stead
ily improving" but it would be
several days before they would
know if she would lose her baby.
Miss Angeli, wife of singer
Vic Damone, suffered a broken
pelvis when she fell during an
airplane trip. She underwent
extensive X-ray : examination
Saturday but results were not
immediately determined.
The hospital said the Italian
horn actress, who expected her
baby in late August or Septem
ber, is an "excellent" patient.
"She's very friendly and cheer
ful," a nurse remarked.
Cecil 6. DeMille's
Brother Taken by Death
Hollywood -r (U.R) Funeral
services for William B. DeMille,
stage-screen producer and play
wright, will be held tomorrow
at an Inglewood Funeral Home.
DeMille, brother of Cecil B.
DeMille, died Saturday at his
home in nearby Playa del Rey
at the age of 76. He had retired
two years ago as head of the1
University of Sotuhern Cali
fornia Drama Department.
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Midwest Exchange
President Heard
As Study Resumes
Washington U.R) A stock
exchange president declared to
day that, judged on their indi
vidual merits, 'very few stocks
are out of line pricewise."
James E. Day, president of the
Midwest Stock Exchange, also
told the Senate Banking com
mittee that an "erroneous im
pression" is created when the
many stocks on the market are
treated "as a single unit" in re
porting market trends.
Day and Ronald . E. Kaehler,
president of the San Francisco
Stock Exchange, were the wit
nesses as the committee resum
ed its "friendly" study of the
booming bull market. , Their
views were presented in pre
pared statements.
May Call Winchell
The hearings resumed after
these week end developments:
1. Sen. Homer Capehart (R.
Ind.) said he "is "sure" the com
mittee will want to call com
mentator Walter Winchell for
testimony on the market tips he
broadcasts. Winchell said that he
wanted to testify. But Commit
tee Chairman J. William Ful
bright (D.-Ark.) said it is still
"premature" to say whether
Winchell will be asked to ap
pear. 2. Secretary of the Treasury
George M. Humphrey said the
Banking committee seems to be
going about the inquiry "in a
very sensible way." He called
the study "a good thing" because
it is bringing out facts which
might help the public under
stand the market.
3. The committee asked the
Defense department for a list of
its 100 top defense contractors
to determine the effect of the
government's defense spending
policies on the booming market.
Not Out of Lin
Day, president of the largest
stock exchange outside New
York City, said "sweeping gen
eralization" about the market
often based on the Dow-Jones
industrial averages is ' not a
completely factual statement.'
A commodity market corn,
wheat or cotton can be up
or "down," he said, but not a
diversified stock market with
"hundreds of issues that daily
have opposite trends." He said
Standard and Poor's stock aver
aees which are "broader" than
Dow-Jones serve to point up
the "fallacy."
"The only sound way to eval
uate .prices of securities," Day
said, "is to analyze them on the
basis of book value, earnings
per share and yield."
"On this basis, it would ap
pear that very few stocks are
out of line pricewise," he said.
Biegel To Continue
As Acting Recorder
Ashland Elmer Biegel, Ash
land city superintendent, who
has been acting city recorder
since John Austin took leave of
absence from the office in Janu
ary, will continue as acting re
corder for at least another
month. The announcement was
made by Mayor Richard Neill.
The mayor said he would not
submit a name for the office to
the council for awhile pending
official action on a formal ordin
ance which will be drawn up by
Harry Skerry, city attorney.
Austin's term would have run
to 1958. Though the city, can
call a special election to fill the
office, the usual practice is to
make an appointment for the
remainder of the term.
10-Minufe Flash Fire
Destroys Warehouse
Forest Grove (U.R) The
main warehouse of Haney truck
lines was destroyed in a flash
10-minute fire here yesterday
afternoon that did between $35,
000 and $40,000 damage.
Everett Haney, co-owner of
the line, said two trucks, spare
parts and a quantity of merchan
dise was burned.
Haney himself spotted the blaze
in the 40 by 80-foot building
and managed to drive out one
truck before flames consumed
the structure.
Firemen said they thought the
blaze was caused by defective
wiring. .
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