SIX MUDFORD (OREGON) MAIL TRIBUHE
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Stock Prices Slump
Without Apparent
Reason During Week
By ELMER C. WALZER
United Press Financial Editor
Nejy York OP) Professionals
dumped stocks for a time during
the past week with the result
V "g that tork
n
a prices slumped
without appar
ent reason.
Thaw A i A
i J their heavi est
! , ail se'l"1? on Mon
iTt tj day when the
A ITlVT 1 industrial aver
iSuJ' I ae lost 6.34
points and rails
Elmer Waizer fell 3.01, the
widest decline in these averages
since Feb. 11.
This type of selling was more
of a market test than anything
else. The market held up well,
the experts said, but later when
the pressure relaxed there ap
parently was no desire to repur
chase stocks.
On the whole the railroad is
sues outperformed the otjier
groups The rails had a good mar
ket on Wednesday along with
utilities while industrials de
clined. On Friday they rose
nearly 2 points on average as
traders anticipated an early
freight rate rise.
All groups finished the week
lower, industrials at 505.10 off
8.49; rails 150.55 off 1.78; utili
ties 69.69 off 034, and 65 stocks
175.23 off 2.61.
Sales Down
Daily sales averagfl 1,744,536
shares, a acw low since March
29, against 1,806,390 shares ear
ly in the previous week.
Of the 1,377 issues traded,
only 374 managed to rise while
807 declined and 196 held un
changed. A total of 140 set new
1957 lows while 27 set neff
highs.
On the basis of a loss of 0.77
point in the Standard find Poor's
The Family
Idltor'i nor?: The Family council
e clergymen, a newspaper editor a
thre clergymen, a newspaper editor a
articla Is a summary of an actual report. The Family Council does not give
advice: It merely reports on problems
responsible agencies and counselors.
Mrs. J. R. My son receives
his father's nstress in his home.
Gerald R She's a lovely per
Mrs. J. R. My husband and I
have been separated r the past
year since I learned about his
affair with another woman.
Everybody knows about this af
fair because he is living right
in the neighborhood. It hurts
and embarasses me so much I
can hardly hold my head up.
The worst of it is that my
husband brings this woman to
our son's home and my son not
only receives them, but makes
them welcome with dinners, etc.
. . . My married daughter is on
my side and says she would
never let such a woman in her
home.
I'm ashamed of my son for
doing such a thing. Shouldn't he
have some respect for his own
mother? Everybody looks at me
and sneers because I "have such
a son and such a husband.
Gerald R. Ever since i can
remember my parents have
fought like cats and dogs. They
are the worst matched couple
I've ever seen and' should have
been divorced long ago. Our
religion doesn't outlaw divorce,
so why should two people stick
together just to make one an
other miserable?
I feel that Mother is, very fool
ish not to grant Dad the divorce.
She is making it harder for all
of us. My sister and I don't enjoy
this situation with everyone
knowing about Mom and Dad.
Dad begged me to let him
bring his girl friend to our home.
I didn't want to do it, but once
we agreed to meet her, my wife
and I found this woman to be a
lovely person. Td like to see
them happily married.
Time
T)ENPL4Y BALL WD CRU04RM,
THE PITCHER, DIGS IMTO IT TO GET
IT B4CK LIKE IT WAS !
500 stock index it was calculat
ed that all stocks lost a tbtal on
paper of around $3.4 billion.
At the close on Friday, the
industrial average was down
15.67 points or three per cent
from the year's high set on July
12 and rails were down 7.12
points or five per cent from
their top set on Jan. 10.
Metals, oils, and special is
sues furnished the weak spots of
the week.
Losses Shown
'Magna Copper showed a loss
of 93s points on a poor earnings
report. International Nickel lost
634 on a statement by its presi
dent the company would have
to dig up more business after
losing out on increased stock
piling. Bank clearings: Dun and Brad
street, Inc., week ended July 31,
clearings in 26 leading cities
$20,873,645,000 vs. $21,568,997,.
000 a week earlier and $20,618,
916,000 in the comparable week
a year ago.
Car loadings: Association of
American Railroads week end
ed July 27, revenue freight load
ings 736,407 cars vs. 743,359 the
week before and 823,008 cars
last year; loadings for the year-to-date
estimated at 20,622,625
cars against 21,498,828 for the
same span in 1956.
Steel: American Iron and Steel
Institute operations this week
scheduled at 82.22 per cent of
the rated capacity of production
or 2,103,000 tons, compared with
an actual rate of 79.4 per cent
or2,033,000 tons the previous
week and 16.9 per cent or 415,
000 tons in the comparable 1956
strike week; index of production
estimated at 130.9 per cent com
pared with 126.6 the week be
fore and 25.8 in the same week
of 1956 (1947-49 average equals
100).
Council
consists of
women's edi
ludce. a DSTchlatrlst.
women's editor and two writers. Each
ui;
hat hare been dealt with by
The Council Gerald is tak
ing a little too much on himself
by trying to pressure his mother
into granting a divorce. This is
her own business. She probably
has good .reason for holding out.
Gerald should not set himself
up as a judge of his parents' re
lationship. There are undoubted
ly many things that bind them
together, if they stayed together
so many years.
As long as his parents are not
divorced, Gerald's cordiality to
the "other woman" can only be
interpreted as a slap at his moth
er. It is very disloyal. He can
wish his father all the happiness
in the world without hurting his
mother by setting up friendly re
lations with his father's mis
tress. Mrs.. J. R. should try to con
cern herself less with what
everyone thinks. She can hold
her head up easily because she
has done nothing wrong. It is
very doubtful whether anyone
would "sneer" at her even
if her son should continue to re
ceive this woman. Her c ly prob
lem will be to avoid the sym
pathy of others. She can do this
by refusing to discuss her af
fairs in public and by leading
as active and normal a life as
possible.
(Copyright 1957.
General Features Corp.)
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Items You No Longer Need
Why, he was
in here only
yesterday
That's how it happens
quick like that! In com
munities all over America,
people "who were here only
yesterday" are gone forever
killed in highway traffic
accidents. Don't let it hap
pen to you!
Here's how you can help:
) Drive safely, courteously yourself.
Observe speed limits, warning signs.
Whera traffic laws or obeyed,
deaths go DOWNI
Insist on strict enforcement of 'all
traffic laws. They work for you, not
against you. Where traffic laws are
strictly enforced, deaths go DOWNI
Support yttr local Safety Coentf
Published as a public service
in cooperation with
The Advertising Council
and the
Newspaper Advertising
Executives Association
'fp TO .
-
Oregon Delegation Seeking Way
Out of Woodburn Base Dilemma
By A. Robert Smith
Mail Tribune Correspondent
Washington (IP The Ore
gon congressional delegation is
belatedly marching for some
way out of the dilemma involv
ing where to locate the squadron
of jet aircraft which the air
force says is needed to defend
the people and property of the
Beaver state
from possible
enemy attack.
The a i r
force itself
has been on
a g a i n-off-again
in . the
matter, as
changing d e
fense weapons
have brought
A. RohL Smith
changes in strategy. So the jets
which were originally located
at Portland airport, later sched
uled for transfer to a new air
base in the Williamette Valley
near Woodburn, as of now will
stay in Portland because the
Pentagon doesn't want to spend
the 520,000,000 to $30,000,000
which the Woodburn base would
cost.
When the air force announced
last March that -it was cancelling
its plans for building the Wood
burn base, farrners in the Wil
liamette Valley heaved a sigh
of relief. They made it plain
to their congressman, Walter
Norblad, that cows can become
most discontented with jet pro
pelled flying machines.
Woodburn Favored ; '
The merchants, mobilizing the
strength of the chambers of
commerce of various commun
ities in the area of the proposed
air. base, were all for the big
Woodburn project as they cal
culated the economic stimulus
of an air base payroll. Some m
Portland, for the same reason,
took a dim view of shifting the
squadron away from Portland.
Because of this sharp division
of opinion locally on what was
right and desireable, Norblad,
in his dealings with the air force,
The new cars are terrific ...
if you have the money to buy
never took any stand on where
the squadron should be located.
Neither did other members of
the Oregon delegation who up
to then had remained somewhat
aloof from the problem.
The air force, consequently,
had a free hand to change its
piens. It experienced none of
the political pressure that is
common when a project site
must be picked, as in Michigan
where a similar base was kicked
back and , forth between two
members of Congress who des
perately wanted-it located in
their districts.
But now, because of the col
lateral problem of storing am
munition which the defense
fighters nvist have, the congres
sional delegation is getting ex
cited. With the jets slated to stay
at Portland, the air force says
it must have ammunition stor
age facilities reasonably close at
hand and the federal-owned
Third Suspect Held
In Melchior Robbery
San Francisco '(ID FBI
agents have arrested a third sus
pect in the Lauritz Melchior rob
bery. ' He is Louis G. Spivak, 44, one
of four men indicted in Los
Angeles for the June 18 robbery
at Melchior's luxurious Holly
wood Hills home. He was arrest
ed Saturday in San Francisco's
Tenderloin District.
Los Angeles police said Mel
choir had once employed Spivak.
At the time of the indictment,
they said he apparently master
minded the robbery, which net
ted the bandits about $100,000
in furs and ewels.
Two of the four suspects were
arrested three days after the rob
bery. The fourth is still at large.
More than 300,000 Americans,
including those in military and
diplomatic posts, now call Ger
many their temporary home.
Here you see a new Southern Pacific freight car.
It cost over $9,000. Ten years ago it would
have cost $4,650. . '
Since the end of World War II Southern Pacific
Company has appropriated a record-breaking
$365,000,000 for new freight cars of various
types. This amount includes $83,000,000 for
8,476 cars on order.
S.P. makes these enormous investments in
equipment in an effort to keep pace with the
transportation needs of the territory we serve,
the most rapidly developing in the nation. We
also want our freight service to be the best.
Freight-car supply to shippers is of course
the joint responsibility of all the railroads, but
Southern Pacific has been trying to meet its full
responsibilities, with a little extra thrown in
for .good measure. We want our shippers to be
land at Vanport is what they
have in mind. Meanwhile,
they'll store their rockets at the
airport itself.
Campaign Launched
Congresswoman Edith Green,
armed with protests from the
governor, the mayor and the
city council of Portland, and
backed by the other Democrats
in the delegation, has launched
a campaign to get the jets and
their ammunition out of Port
land. Representative AI Ullman
is making a pitch for shifting
the squadron to Redmond, in
his congressional district.
Redmond was one of the
places the air force examined in
its search for a new site. But
more pressure is being invoked
for Portland as commercial air
travel increases. The Civil Aero
nautics Administration has
thrown its weight in behalf of
moving the military out of Port
land airport, contending that
the present situation "is not con
ducive to the normal growth or
safe operation of a civil air
port." With congress in a frugal
mood, and with the air force say
ing it will replace its jets with
guided missile (which need no
airport for launching) probably
in about five years, it appears
likely the jets will stay at Portland.
No Survivors Found
In Sinking of Boat
Miami (IP) An unidentified
boat burned and sank off the
Florida coast late Sunday, leav
ing no trace, of survivors, the
Coast Guard reported.
Authorities said the only pos
sible clue to identify the vessel
was a report that a converted
cabin cruiser of approximately
the same size was overdue at
Port Everglades, Fla. It had two
persons aboard, the Coast Guard
said.
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Western Wyoming -and Utah
have great reserves of bitumin
ous coal which comprise a bul
wark for the expanding indus
trial economies of the west and
far western states.
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SPECIALISTS IN
Free Parking
able to move their products to market during
harvest time and other peak shipping seasons
... without a hitch.
Also, we don't want to lose revenue because
of inability of shippers to ship.
The problem for other railroads as well as
for S. P. is a simple one of money.
We try to overcome rising costs through re
sourcefulness in devising money-saving meth
ods and by the installation of facilities that cut
operating expenses.
But there is a limit to what we can do in this
respect. As costs of wages and materials rise w&
must have increases in rates.
Ability to buy necessary freight cars and
other equipment depends on earnings.
A single roller in the huf rol-
ler bearings used in the giant
machines employed by the steel
industry for rolling out cold flat
steel sheets sometimes weigh up
to 700 pounds.
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