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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Sept. 27, 1955)
I 1 Market Break Said 'Emotional Spasm ' Economy Said Sound New York (U.R) Financial experts today described the tock market break as an "emo tional spasm" and insisted the nation's economy is basically sound. Government officials and Wall Street .financiers pointed out that there has been no overnight change in business conditions and predicted it would continue at -high levels of activity throughout the year. The break which began with the opening of the market Mon- rAdri lenne s WEDNESDAY NIGHT SPECIALS in the Department NYLON , Gowns by Kickernick -and Strutwear Lavished with Luxurious Laces and Net. $59 8 Values $ J 29S DUSTERS Brunch Coats and f?rt.Av Lovely nylon or cotton seersucker ... in pastel colors and attractive prints. Oeen 'Til 9 Wednesday Evening! AdrienneV 214 I. Main ' Phone 2-7169 day was the most severe for any single day since Oct. 28, 1929. The values of all shares listed on the New York Stock Ex change dropped by approximate ly SI 1.000,000,000. The Dow-Jones industrial aver age slipped 32 points, a record drop for any single day with the exception of Oct. 28, 1929, when the average fell 38.33 'points. Percentage Declines Wide Percentage declines were vide 6.79 in the rails; 6.54 in the industrials and 3.75 in the utilities. Individual losses in the lead ing shares . ran high. Bethlehem fell $14; Kennecott Copper, 12.50; Du Pont, $15.88; Texas Co., $10; Union Pacific Railroad, $18; Anaconda Copper, $8.25; General Motors, $8.88; Chrysler, S8.25; Standard Oil (NU) $8.63; Union Carbide, $8.88, and Unit ed States Steel, $5.13. All financial sources agreed that the decline was triggered by President Eisenhower's ill ness, the conviction in some cir cles that he would not be avail able for a second term, and that any other Republican candidate for president would be much less likely to win in 1956. A Democratic administration, some quarters reasoned, would be much less sympathetic to bus iness. . Secretary of the Treasury George M. Humphrey issued a statement saying the President's illness is a "cause for sadness but not of alarm-" "There is no reason to antici pate any change in the Eisen hower administration," he said. Financial sources agreed that the emotional spasm" .which brought on the wave of selling probably was overdone. But they admitted that a wide de cline often brings furthej- sell ing in its wake some of it of the distress variety. . Delia Park Site Favored in Portland Portland (U.R) A member of the commission which has the job of selecting a site for Port land's $8,000,000 exposition and recreation) center suggested last night he might vote for the Delta park site. ' Clyde Crosby, local labor lead er, told the Central Labor Coun cil he favored the Broadway Steel bridge sile'lbut... would compromise If certain ;"jbbjects: to the Delta, or1 Vanport, site were overcome. Crosby said it appeared that no solution' appeared possible without a compromise. "Two of the commissioners appear to pre fer the Delta park site. Two oth ers lean towards the south audi torium site." Crosby is the fifth member. He said he had several objections to the south audi torium site. MR. AND MHS. EDDIE FISHER . Famous Pair on Honeymoon Debbie Reynolds Weds Singer Eddie Fisher In New York Rites Grossinger, N. Y. (U.R) Singer Eddie Fisher, despite all the reports he wouldn't married actress Debbie - Reynolds and they were honeymooning today at an undisclosed spot. The year-old romance between the bobby-sox idol and the young actress reached its climax Mon day night at this Catskill Moun tain resort where Fisher began his meteoric rise to fame a dec ade ago at $30 a week. It was a simple, but double ring ceremony that lasted three minutes. At the end, the diminu tive Fisher kissed his petite bride lustily, and she breathed a sigh that was plainly audible to the three dozen persons who witnessed the marriage. For Fisher, 27, . and his 23-year-old bride, it was their first marriage. . And for the honey blonde ; actress, she said she hoped it " would , be ' her last. Asked if she planned to raise a family Debbie replied de murely: "Doesn't everyone plan to have a family, eventually." i Married by Judge .. -' The civil ceremony was per formed by Sullivan County Judge Lawrence Cook, arrayed in his judicial robes. He and the happy couple stood in front of a flower-baiiked 'fireplace in the living room . of Dr. and Mrs. David Etess. . Their home is a part of the resort area. Actually, the wedding was de layed almost an hour because Fisher's mother, Mrs. Kate Stupp, en route here from Penn sylvania for the nuptials, was delayed by heavy traffic ,in Philadelphia. .".- ' Debbie is a Protestant and Fisher is of the Jewish faith. In concluding his remarks, Cook told them, referring to the Jew ish holy days which ended a few hours before the. wedding: Sunday Marriage Planned "I know this ceremony orig inally was planned for Sunday. I admire you, Mr. Fisher, for keeping the precepts - of your religion and you, Mrs. Fisher, for respecting yours; husband's beliefs:": -. ' The newly weds declined to say where they would , spend their wedding night. But for the time after that-as in the life of all people in showbu'siness- their whereabouts - will be no secret. . '' ' ' .;.. Wednesday . they will be in Washington- where : Eddie will appear , at a convention of the people who .bottle the soft drink which sponsors his TV and ra- Ik! vm s7- : t solid r I t I J. only t . . . and potatoes are just one of the inviting fresh fruits and vegetables featured .this week in the All your money back on any item that doesn't please you Painting Located In Antique Shop Da Vinci Original Chicago (U.R) The art direc tor of the University of Notre Dame said today a painting pur chased for $450 in a New York antique shop has been identified by Europe's "four top experts" as a $1,000,000 Leonardo da Vinci original. Dr. Maurice H. Goldblatt said the experts agreed with him that the painting, "Madonna and Child" is the work of Da Vinci, the most brilliant figure of the Italian Renaissance. Value Estimated He estimated the painting, an oil on wood measuring 25V4 by inches, at about $1,000,000. Goldblatt said the work, as cribed to an "unknown artist," was purchased last year by Hanns R. Teichert, a Chicago art dealer, who found it while browsing in XMew xotk.. ai Teichert took the painting to Goldblatt, who . decided fhere had beqn some restoration,- but that the rest of the work was a Da Vinci original. Scholars Agree Confident he was right. Gold-, blatt took the painting to Eu rope this summer, where he said all "four of the "greatest schol ars on the subject" agreed with him. He identified the authorities as Dr. Giorgio Nicodemi, Milan, Italy, organizer of , the "Leon ardo Da Vinci Exhibition of 1940" in Milan; Louis Reau, pro fessor at the Sorbonne in Paris; Dr. Thomas M. Judson, former curator at the Vatican Art Gal lery in Rome; and Dr. Max Friedlander of Amsterdam. dio shows. Then he and his bride will see a World Series game in New York. And on Friday they will go to South Bend, Ind. where Eddie's TV show will originate from the Notre Dame campus. Tuesday, September 27, 1955 MEDFORD (OREGON) MAIL TRIBUNE THREE ' SPEAKER " Harlan L. P. Wendell, of E. I. du Pont de Nemours & Company, will speak at the Wednesday meeting of the Medford Lions club, it was reported today. The meeting will be at 6:30 p.m. in the Jackson hotel. His topic wil be "Prog ress Must Be Created," and he will discuss factors leading up to progress in America. . , Ex-Eugene Policeman Cuts Guam Death Toll Portland (U.R) ,A member of the Legislature of the island of Guam today had praise for Ted Brown, former Eugene chief of police, who he said has helped cut down the island's unusually high traffic death toll. F. T. Carbullido, here to ob serve P o r 1 1 a n d's "Operation Green Light" test . evacuation, said that after Brown arrived at Guam to take over the police and fire departments, the traffic death rate, which had averaged more than 400 a year for a popu lation of 60,000, began to drop. When he left the island, Guam had gone 67 days' without a fatal accident. Air Force Lists Wyoming Victims Reno, Nev. (U.R) The Air Force released today the names of the seven airmen who were killed Saturday night when their C47 plane crashed and burned near Burns, Wyo. .The plane was on a routine training flight from Stead Air Force Base near here to - Sel- fridge Air Force Base at Detroit An Air Force spokesman said the release of the casualty list was delayed until positive identifi cation could be made of the badly burned bodies. The dead were: ... Pilot 1st Lt. Thomas Joseph Kelley, 26, husband of Ann Ma rie, Sparks, Nev. Co-pilot 1st Lt. Richard Au gust Funke, 26, husband of Bar bara Anne, Sparks, Nev. . '. Navigator 2nd Lt. Marvin Mindrup, 21, son of Mrs. Thekla C: Mindrup, Edgerton, Mo. A1C Donald Le Roy Nelson, 25. son of Mr. and Mrs. Fran D. Nelson, Slayton, Minn. A3C Thomas L. Dickens, 19, son of Mr. and Mrs. Lloyd Dick ens, Upland, Calif. A1C James Herold Levitt, 21, husband of Dorothy Marie, Reno. A2C Bobby Lee Kinniell, 21, son of Mr. and Mrs. Louis Kin niell, Hot Springs, Ark. ' - Levitt and Kinniell were pas sengers aboard the plane. Dead line Sunday Classified is at noon Saturday. 10 a. m Monday for Monday: other days 5:30 previous day. RUNS HALSEY BANK Lebanon, Ore. (U.R) Archie Parker, executive vice-president of the Bank of Lebanon, : said today the bank has taken over the Halsey State Bank and was operating it as a branch. Enjoy America's loveliest decorating colors PAINT WITH NTIRIOR WALL FINISHES Youll delight at the way thee exactly right decorating colors bring out the full beauty of the furnishings. Paint the walls and woodwork with the maiing new One Coat Mist, an odorless enamelized flat finish that is actually scrub - bable. 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