rOTOTEETT MEDFORD (OREGON) MAIL TRIBUNE
Thursday, March 17, 19S5
Banker and Labor Leader Issue
Warning on Stock Market Boom
Washington U.R) A New
York investment banker and a
labor leader raised red warning
flags today on the stock market
boom.
Ferdinand Eberstadt, the
banker, and James B. Carey,
secretary-treasurer of the CIO,
gave each warnings based on
different reasons in separate
statements to the Senate Bank
ing Committee, which is investi
gating the sharp rise in stock
prices in the past 18 months.
Eberstadt's statement was
only mildly unfavorable to the
market. Carey was highly
critical.
Both Commend Inquiry
Both commended the investi
gation. In his single reference to the
Eisenhower a d m i n i s tration,
Eberstadt said the President and
Congress had inspired wide con
fidence in the economic future.
Carey put most of the blame
for what he called a "far out of
line" increase in stock prices on
administration economic and tax
policies. He singled out Secre
tary of Treasury George M.
Humphrey as the "chief archi
tect of an economic house of
straw."
The labor leader termed as
"brazen" Humphrey's advice to
the committee Tuesday to be
cautious in its investigation lest
it weaken confidence in both
the market and the overall
economy.
Carey Attacks Margins
Eberstadt recommended that
the Federal Reserve Board be
empowered to raise market mar
gin requirements the percent
age of cash that must be put up
to buy stocks on specific, in
dividual stocks.
Carey said an increase in
margin requirements above the
present 60 per cent would be "a
wise step.
Eberstadt warned that -"undesirable
practices and tenden
cies" have entered the market in
recent months.
The investment expert listed
a '"rash" of unpromising secur
ity offerings, "rides" given cer
tain unspecified stocks and "hot
tips" which led to "feverish
stock buying."
The committee's investigation
"has already had a distinctly
perceptible deterrent effect on
these practices." he said.
Wall Street Experts
Claim Confidence in
Market Coming Back
New York (U.R) Wall
Street experts said today that
confidence in the stock market
is being slowly restored.
They predicted reduced activ
ity and a narrower price move
ment in the near future. But
they said there may be another
test of recent lows.
Wednesday the market rose
again but its rise was reduced
before closing time by selling
from recent buyers who took
stock on the decline for a quick
turn.
List Can Go Uo
Brokers say the list can go up
several more points before run
ning into real resistance because
of good business news high
production, good earnings, and
anticipation of excellent first
quarter reports to come next
month.
Now that the market has
weathered one of its biggest set
backs the market men are taking
stock to see who bought in the
last two sessions and who sold
last week and Monday.
One group was immediately
eliminated from the selling
OLTO Group Hold Social Evening
About 400 persons attended a
social evening Wednesday spon
sored by members of the Ore
gon Licensed Tavern Owners
from Jackson and Josephine
counties. The event was held at
the Oasis at Eagle Point. Wives
of the members were in charge
of arrangements and decorations
-which were in the carnival
theme.
A buffet , supper was served
by Mr. and Mrs. August Bruy
neel of the Dardenelle dinner
house. Music for dancing was
furnished by the Tunesmiths.
Various distributors had d i s
plays. Sam Prough, Medford, is pres
ident of the group; Ed Dahack,
Eagle Point, is vice-president,
and Fairman O'Connell, Gold
Hill, is secretary-treasurer.
side the institutions. Also little
or no selling came from mutual
funds, pension funds or individ
ual trusts.
From General Public
Much of the unloading came
from the general public and it
included a few wealthy individ
uals with sizable long-term cap
ital gains. Speculators were
squeezed and probably tamed.
Buying on the decline came
from bargain hunters and in-and-outers
eager to scalp a quick
profit.
As of today the market has
recovered in two sessions about
21 per cent of its losses of the
previous five days of decline.
Crosley Distributors
Set Meeting Tonight
A meeting of about 30 Cros-ley-Bendix
distributors from
throughout southern Oregon
will be held this evening to in
troduce a new "Custom-V" line
of Crosley television sets, it was
reported this morning.
The meeting will be at the
Crater Inn motel, with refresh
ments served at 6 p.m., dinner
at 7 and the sales meeting at 8.
Arrangements for the meeting
are being made by Ralph Sachs,
Portland, electronics sales man
ager for Robert L. Rice Co..
Crosley-Bendix distributors, and
Paul E. Wagner, district man
ager for the company.
The sessions will be in the
motel's sample room.
Dead line Sunday Classified Is at
noon Saturday : 10 a.m. Monday for
Monday: other days 5:30 orevions day
THIS IS A PICTURE OF THE
n
BRAfiSD
MTXIE
We are featuring the famous Super 67 Brand Long Fed Cattle
selected from the top u.d. unoice uraae.
These cattle are outstanding in quality, properly aged to better
tenderness in Super Pak's kitchen clean coolers . . . the best
money will buy. It's good economy to enjoy the best! BUY
VALUE!
Anderson's Thrift Market
Big Y Super Market
Central Market -East
Side Market
Grandview Market
Featuring Super 67 Brand Beef for your locker ,
Guyer's Market i p,-39iy. w,ggiy
Hawthorne Market
O. K. Market
Ashland Groceteria
Drive In Market
Pale's Meats
Gail's Market
Cogswell's Market
Farr's Market
Medford
Medford
Medford
Medford
Medford
Medford
Medford
Medford
Ashland
Ashland
Central Point
Gold Hill
Gold Hill
Grants Pass
Bankrupt
Hundreds
Naples, Italy (U.R) Hungry (
poor lolk line up Dy tne nun
dreds each day at noon before
the humble home of a "bank
rupt" rag man named Teodoro
Mandato. Inside, through pow
ers the rag man describes as
supernatural, they find all the
food they can eat.
Don Teodoro's table groans
with cauldrons of rich mine
strone soup and piles of bread
and fruit. His ill-clothed visitors
come and go. They eat heartily
and pause to thank their smiling,
white-bearded host before they
leave.
Don Teodoro accepts only
their gratitude in payment for
the meal. He is poor himself,
he explains, and the spread of
food comes from "providence."
This explanation is enough
for the thousands who have sat
at his table and eaten literally
tons of food in the past two
years. But civil and ecclesias
tical authorities want to know
more.
'How can you go on feeding
all these people?" they have
asked.
Don Teodoro smiles broadly.
"My daughter, Rosa Immaco
lata, lives in a state of grace.
Through her I have been in
formed by the most high that I
must help the poor."
"But where do you get the
money?"
"From providence," Don Teo
doro explains cheerfully.
Authorities have pried deeply
into Don Teodoro's past to try to
find out how he manages to feed
up to 500 people a day with no
apparent source of income. They
are still mystified.
About 24 years ago, Don Teo
doro went to Rome from Naples
seeking his fortune. He found it.
Starting with a pushcart he be
gan collecting and selling rags,
and by the beginning of World
War II he was rich. His rag busi
ness was enormous and he owned
a villa and several big cars.
Italian Rag
of Hungry
But Mandato and his partners
in business were of Jewish ex
traction, and during the last years
of the Facist regime they were
forced to flee and turn their
business over to others. After
the war, they returned and found
they owed the government a
huge back log of taxes. Mandato
paid his share
penniless.
The dejected rag merchant
returned to his native village of
Cardito eight miles north of Na
ples with his wife and eight chil
dren. He told friends he had less
money than when he first went
to Rome to make his fortune.
For two years the family lived
alone. Neighbors seldom saw the
Merchant Feeds
People Each Day
Mandatos except at mass on Sun
days. Suddenly, in 1952, the old
est daughter Rosa quit school
and began to live a cloistered
life in a room of the Mandato
home.
At the same time Don Teodoro
grew more high spirited. He
but was leftlPened his house to the poor
every day, and his table has be
come known far and wide.
Sometimes visitors at the Man
dato home ask to see Rosa, a fat
cheeked girl of 20 who has long
dark hair and wears a flowing
white robe. They have come
away claiming she has power to
heal.
. "Rosa," Don Teodoro says,
"lives a supernatural life. Some
day her beauty and saintliness
will outshine the fame of Fatima
Talent Project Not
'Dead Issue Ashland
Audiences Informed
The site of the discovery of
San Francisco bay, Sweeney
Ridge about four miles west of
Millbrae in San Mateo county,
Nov. 4, 1769, bears a historical
marker.
Ashland The Talent proj
ect is not a "dead issue," mem
bers of the Ashland Chamber
of Commerce and Ashland Real
ty Board were told Tuesday.
J. A. Hoffbuhr, manager of
the Medford Irrigation district
and secretary of the Rogue River
Valley Irrigation association,
told his audience that the proj
ect has been authorized by cong
ress, and. that work could start
within a few months after initi
al appropriations are approved
by congress.
He outlined some of the diffi
culties which have held up the
appropriation, including confu
sion over benefit ratios, and the
opposition of eastern congress
men to western reclamation
projects.
Robert A. Kent, manager of
the Talent Irrigation district,
supplemented Hoffbuhr's re
marks. Both have been active in
working for the project, which
would provide new and supple
mental irrigation water for
several thousand acres of land
in Jackson county, as well as
new electric generating facili
ties. Hoffbuhr said that, while this
is a money-conscious congress,
he believes the prospects are
good for congressional support
of supplemental budget requests
for the project. Both Oregon
senators and Congressman Har
ris Ellsworth, of this district,
favor the project.
Engineers and crews from the
bureau of reclamation are now
working on surveys of the main
canals, and will move into the
mountain areas involved in the
project as soon as snow condi
tions permit, Hoffbuhr said.
With the necessary preliminary
work done, work could start
within a few months, he added.
WINNING release from war
time treason charges, John D.
Provoo, Sausalito, Cal., leaves
Baltimore jail. (International)
68
Is All Tou Pay
Repeated by
Demand
pJSS; d"2.4 One Day Only! r,S
Save S1.00 - Use This Coupon
68
Is All You Pay
This coupon and
WRITE 'Princeton'
68c entitles the bearer to one of our BEAUTIFUL RETRACTABLE PAPER
De Luxe Pens , WITH THE SCIENTIFIC INK DISCOVERY THAT WRITES DRY
CEttJgi""l
25c MORE FOR A 50c 75,000 WORD REFILL WITH EACH PEN
A FIVE (5) YEAR WRITTEN GUARANTEE WITH EACH PEN
Press button. It's ready to write. Press clip, point disappears, leak-proof ink dries in l-89rh of a second.
Smear-proof, fade-proof, washes out of clothes, permanent on paper. Bankers approved. Every pen tested
and guaranteed. You can write over 75,000 words with each refill. These pens will be sold at $1.68 after
THIS MJTfTER SAlV AN TW PENS T EACH C0UP0N' POSITIVELY NO PENS SOLD At
68c
Price
to Tou
Then Sold Reg.
For $1.68
A FIVE (5) YEAR WRITTEN GUARANTEE WITH EACH PEN
GOOD ONLY FRIDAY, MARCH 18
KEY CHAIN FREE WITH EACH PEN
CENTRAL REXALL DRUG
Main and Central Phone 2-9431
68'
WITH THIS
COUPON
(OCt Market Is Your Shopping Center For SAVINGS!
OUR LOW EVERYDAY PRICES PLUS GOLD ARROW STAMPS MEAN MORE FOR YOUR MONEY? !
Super 67 Brand
Choke IBeeff
Featured Exclusively Aged Right
Expertly cut to order for you. Once you enjoy the fine flavor and
tenderness of steaks and roasts from OK Market you will be satisfied
with no other!
1
ft Grapefruit
Juicy Arizona
SUNKIST
T-Bone Steak
New York Cut
Round Steak
Blade Roast
Round Bone Roast
,b. 95c H
lb 1.05 1
79c (3
ib. 55c 5
ORANGES
LEMONS sunkist
ECEa. f XT fc
2 49c-(Pl
Em Doz. Xs--v3lF
Egg Plant
OK
Purple
Beauties!
Try These in
An Oyster
Casserole. '
Ea.
Cabbage
NEW (
CROP I L
SOLID . LD' JJ
Red Apples c
Bananas
Winesap Do.
riip ,2a
Ik.
Golden Ripe
FULL SELECTION OF GARDEN SEEDS!
49
25
Bacon it. 3SDC
Sliced or Piece
PocnBcs ib. 3S)e
Small Tender Smoked
IBoBogna ib. 34c
IKlam
Morrell Canned
No Waste -All Ham
a. 79'
r
Lenten Items on Special!
TUNA CHUNK STYLE
OYSTERS WHOLE
CLAMS MINCED
SARDINES OVAL
SHRIMP BROKEN
CANS FOR
99c
Rock Lobster
1202 NORTH RIVERSIDE
citc
CRAB 'CANVVJ
DUNGENESS
7Z frc
)S7
Sikfinfless Franks -34
Franks
Old Fashioned
b. 22)
Repeat Special Bonus!
U U 11 LZ2 Arrow Stamps
WITH EACH $10.00 TOTAL PURCHASE
FRIDAY AND SATURDAY!
Comb H oney ucai ea 39
Cracker Jacks 3 bXS.10
H Ready to C 7Vi-OZ.
einZ Serv. SOUP CAN 10'
Gallon Jugs Milk aw 80'
3 JAY DAIRY FRESH DAILY PASTEURIZED 84c GALLON
'OH
EGGS
Always strictly fresh Grade AA
from the same local producer 7
years. Graded and candled by
Mr. "O.K." Shook personally.
Every Full Gold Arrow Book IS Worth $3.00 In Trade