American Industrial
Investors Protected
Against Inflation
By ELMER C. WALZEH
United Pres Financial Elitor
New York W Bisect the
stock market for inflation and
what have you got?
I n d ustrials
today are only
65 per cent
above the 1946
level and 40
per cent high
er than the
1937 peak.
But this
group is 12 per
cent under the
ton tnnrheH in
tiii'er waizer 1929
Those figures come from the
research department of the stock
exchange firm of Francis I. Du
Pont & Co.
According to the calculation,
the current industrial average
translated into terms of the con
sumer price index based on 1947
43 tqual to 100 works at 432.
The 1945 average high of 213.36
becomes 261 and the 1937 peak
of 195.59 becomes 308. The peak
(intraday) of 336.10 becomes
491.
Two Conclusions
The Du Pont firm draws two
conclusions from its calcula
tions. 1. "It is clearly evident that
the holders of shares of Amer
ican industry have been protect
ed over the past post-war de
cade from the ravages of in
flation." 2. "Even allowing for the loss
in the worth of money, the stock
market in recent years has had
a sharp advance and accordingly
discounts, to some extent, the
improved underlying factors."
According to the study, it is
indicated that the market infla
tion isn't as great as that of
1929 even now.
Thus it would appear the
market has further distance to
travel before getting top heavy.
What it will do and what
effect inclation will have are
the problems.
Fluctuates on Over-all Picture
The Du Pont study says that
the market historically flucu
ates on the basis of the overall
economic picture and the for
tunes of individual companies.
"Unless and until a much
more violent stage of inflation
is w'tnessed, which would have
to be predicted on features which
do rot appear inherent in our
American economic sphere," the
firm says, "Indications are that
the judgment of investors will
still be based, to a major extent,
on pricetimes-earnings ratios,
yields, comparisons with book
values and growth potentialities
for individual industries and
equities."
There is talk that inflation
pressure is lightening, a factor
which last week brought better
demand for bonds.
Some in Wall Street regard
less pressure on the money
market as favorable to both
stocks and bonds.
BUTTE FALLS
Lions Attend Convention
By MARY JO HARRIS
Butte Falls F. E. (Mannie)
Poole and Bruce Pingle were
delegates from the Butte Falls
Lions club attending the Lions
International Convention in San
Francisco recently. A chartered
bus left Med ford for the conven
tion with 21 Relegates.
Upon returning home, the Leo
iff-Perfecl!
Boy meets girl and they live
happily ever after, atop their
toaster "home." It's such fun to
sew this cover; and just right for
a bridal or shower gift!
Pattern 7041: Transfer pat
tern for toaster cover; directions.
Easy-to-make gift, bazaar item!
Send THIRTY-FIVE CENTS
in coins for this pattern add 5
cents for each pattern for 1st
class mailing. Send to Medford
Mail Tribune. Household Arts
Dept., P. O. Box 168, Old Chel
sea Station, New York 11, .Y.
Print plainly NAME. ADDRESS
and PATTERN NUMBER.
A bonus for our readers two
FREE patterns, printed in our
new Alice Brooks Needlecraft
Book for 1957! Plus a wonderful
variety of designs "to order
crochet, knitting, embroidery,
huck weaving, toys, dolls, others.
Send 25 cents for your copy of
this exciting NEW needle book
now!
TREE SUNBURN
Columbia, Mo. IT The
hot summer sun sunburns young
trees, just as it does humans,
according to L. E. McCormick,
extension forester at the Uni
versity of Missouri. He suggest
ed wrapping young trees expos
ed to the sun with burlap to
prevent the sunburn, which oft
en kills the trees.
Campbell family of Buffalo,
Minn., were caught in a tornado.
Damage to their home was esti
mated at $3,500. It destroyed the
upper story, one side and one
end. Repairs are now underway.
Campbell is a brother to Mrs.
Glenn Cathey and had just re
turned to his home following a
reunion with is sister in Butte
Falls.
Mr. and Mrs. Gene Irwin and
family of Butte Falls spent part
of their vacation on the coast.
The Irwins went to Brookings
and visited Mrs. Gene Irwin's
parents, Mr. and Mrs. Charles
Ellis. At Albany the Irwins vis
ited friends and went on to Ore
gon City to visit with Mr. and
Mrs. Lynn Kelland, Mrs. Gene
Irwin's sister. Mrs. Gene Irwin's
sister, . Linda Ellis, returned to
Butte Falls for a short visit.
Guests in the - Page Stauffer
home for several days were Mr. '
and Mrs. Loren Rhodes and
Newell Rhodes of Salem, and
Roy Stauffer of Eugene. Loren
and Newell are brothers of Mrs.
Stauffer and Roy is a brother of
Page. Later in the week the
Stauffers spent a short time on
the Metolious river with the
Ralph Hodges of Oakridge.
Mr. and Mrs. Bill Glascock
and daughter. Carmen, of Berke
ley, Calif., were guests in the
home of Mrs. Glascock's parents,
the Les Ellis family of Butte
Falls. The Glascocks are former
residents.
Mr. and Mrs. Roger Harris
spent several days at Florence
recently. From Florence the Har
rises visited Sutton lake and Sea
Lion caves. On their return trip
they visited Harris' brother,
Maurice Harris, of Klamath
Falls, in Medford.
Mr. and Mrs. Mannie Poole
and daughter, Priscilla, went to
the Chiloquin area recently to
visit the Roy Lambert family.
Priscilla is staying for a summer
vacation at the Lambert ranch.
Mrs. Lambert is a daughter of
Mrs. Poole.
Family and friends met at
Dimond lake to observe Inde
pendence Day. Mr. and Mrs.
Jess Rodgers. Mr. and Mrs. Bill
Rodgers and family, Mr. and
Mrs. Al Hartlerode of Butte
Falls, Mr. and Mrs. Leth Mea
dows of Medford, Mr. and Mrs.
Eddy Meadows and sons of
Prineville, Mr. and Mrs. George
Netherland and sons of San
Francisco, and Mr. and Mrs.
Vera Helbig of Grants Pass
were members of one family pic
nicking on the Fourth at the '.
lake.
Don't Say
. "Hello"
Say
"FILTER-FLO"
Friends snpnriinff iht Fnnrth
at Diamond lake wprp Mr anH
Mrs. Alva Webster and daugh
ter, Linda, and Mr. and Mrs.
Dan McKeen and family.
Mrs. Jim Arnold spent several
days in Medford at the home of
Mr. and Mrs. Paul Greer. Mrs.
Greer is a daughter of the Arn
olds. Mrs. ArnnlH is attonrlinrf
. ... .....f, ...
r . , . . - I
j-uauuciaieia luuveauon al iNOrin
Bend.
Frances' Furs
Formerly Frances Dallaire
1100 Crater Lake Ave.
Telephone SP 2-6526
HEADING FOR LONG BEACH, CALIF., and "Miss Uni
verse" contest, Corine Rottsehafter (center), the Nether
lands, wins "Miss Europe" title at Baden-Baden. At left
is Marita Lindahl, Finland, second, and Gerti Daub (right),
Germany, who won third place. (International Soundphoto)
Langley Apeals
To Supreme Court
Portland m William
Langley, former Multnomah
county district attorney, Tues
day appealed to the State Su
preme Court his conviction on
a misdemeanor charge of neg
lect for failing to prosecute
gambling.
Langley was removed from of
fice after the conviction.
Langley also filed motions
seeking dismissal of two indict
ments against him. Last week he
filed similar motions attacking
other indictments.
Wednesday, July 10, 1957
MEDFORD (OREGON) MAIL TRIBUNE THREE
MM
Wlii did I store my furniture
mthBdwns?
"TtTery storage department is m dean
and tidy at Bckins ... every item of
furniture carefully wrapped and prop
erly identified. ..and Bekins storage
rates are much lower than we had ex
pected. I heartily recommend Bckins'
responsible storage to anyone needing
the service."
DAVIS
Transfer & Storage Company
139 South Fif Phone SP 2-6273
Ashland 240 4th St.
Phone Ml) 2-1552
IS
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