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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (July 2, 1957)
TWELVE MTDFOHD (ORECOIT) MAIL TRIBUNE w C( di w h. P Long Veek End Good Time for Wall Street To Take Inventory EM By ELMEH C. WALZER United Press Financial Editor New York IP This week will be a short one with the Independence Day holiday sand wiched between the Wednesday I HmtirJ: "1 and Friday gPk"'-Z'A-- I sesssions. It' 2- ' . J It ..Mil t,o c long week end h o 1 i d ay for many in the f i nancial dis trict as well as for many in in dustry. Hence things all Elmer Waizer around are ex pected to be slow, a good time for the street to take inventory of favorable and unfavorable market factors. The bears have listed a group of arguments they say are in favor of a declining market. This group hasn't lost hope but .its ranks aren't too thickly pop ulated with real short sellers, though many talk a bood bear lingo. A bear argument often heard Is on automobile production. The bruins say the output of 1957 will be only 5,800,000 units, against some guesses earlier by others that it would be 6,200,000. In Different Light I. O. Hooper, analyst for W. E. Hutton & Co., looks at this one in a different light. He takes the 5,800,000 figure, but points out that four million cars are being scrapped annually. This, he notes, leaves 1,800,000 cars for new owners, families which graduate into the mul tiple exports. Most of the cars which were bought on liberal credit terms in 1955 now are becoming fully paid for, Hooper notes. Hence, he looks for a better year in 1958 than 1956 or 1957 for the auto in dustry. And, Harris, Upham & Co., in its monthly market review notes that the bulls find our general economy less affected than form- 1 - F V . . M -in i" REVEALS BLOOD BATH Red Chinese Premier Chou En-Lai (above) told the People's Congress in Peip ing that one out of every six persons accused of counter revolutionary activities by the Reds in China was exe cuted. It is probably one of the largest blood baths in history. erly by the auto and building industries. Incidentally, the bear argu ment on building, notably home starts, was knocked down last week by expert estimates that the bottom has been seen in that line. Making Much of Inflation Bull are making much of in flation as a market force on the theory, often mentioned, that common stocks are a hedge against inflation. Many have this view and Standard Sc Poor's lists it as an advantage of investing. Bears are stressing the pros pect of armament cutbacks which they hold would slow busi ness and hurt the market. Bulls admit the impact of arms talk hurts the market but doubt there will be any sweeping reductions. The conservatives hold there will be a series of little bear and bull markets for some time, an other way of saying there'll be selectivity. Northwest Sends Lumber To Korea Washington, D.C. Current shipments of lumber to Korea for use by United States armed forces are being supplied entire ly by Pacific Northwest pro ducers, according to a letter re ceived from the Department of the Army by Rep. Charles O. Porter (D-Ore.). The letter, from the office of the Secretary of the Army, which was in answer to a re quest by Congressman Porter for information on such pur chases, noted that "lumber pur chase assignments are made on the basis of ultimate delivery point and, due to Far East re quirements, have resulted in the Portland purchasing office plac ing 60 per cent of the total quantity principally with pro ducers in the Pacific Northwest." The letter goes on to say that "current Korean shipments are being supplied 100 per cent by Pacific Northwest producers." Repre sentative Porter had written to Lt. Col. Donald T. Kellett, Chief of legislative Liai son at the Army Department, asking him specifically where the bulk of the 500 million board feet of lumber a year that the Department of Defense uses is purchased. He further asked where the Army was purchasing the 10 to 15 million board feet per month for shipment to Korea which Colonel Kellett had earl ier mentioned to Porter. Court Records DISTRICT COITRT Charles Lewis Francis, overwidth, $15. Harold Ray Wilson, no motor ve hicle license, $6. Wallace Gerald Groleau, failure to stop at stop sign, $10. William Donald McLeod, violation of basic rule. $5. Nolan Clarence Vaughn, inadequate binder, $15. Elmer Wesky Settell. foul hooking salmon, $25. CIRCUIT COURT Philip Louis Lausten vs. Dorothy Fay Lausten, divorce complaint. William L. Cardin vs. Betty L. Car din, divorce complaint. James A. Johnson vs. Anita Louise Johnson, divorce complaint. Charlene Ann Pardee vs. James Stanley Pardee, divorce complaint. 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