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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Sept. 18, 1957)
EIGHT MEDFORD (OREGON) New Measurement of Stock Market Shows Narrow Fluctuation By ELMER C. WALZER United Presi Financial Edilor New York (W Trading in stocks on the basis of percentage of list turnover has become small. For days at a time the trades have been less than 9 per cent of the listings on an annual ba sis. The only time that an nual rate was Elmer Walzer touched was in 1942. Now comes the firm of Fran cis I. Du Pont & Co. with a new measurement of the market showing that industrials for the past 18 months have fluctuated in their narrowest area of the century. , For nearly two years the in dustrials have held their swings to an area of 13.6 per cent be tween the highs and lows. Shown Graphically , The Du Pont firm shows this graphically and notes such large yearly fluctuations of the av erages as 31.5 per cent in 1954; 42.5 per cent in 1937; 55.1 per cent in 1933; 63.6 per cent in 1932; 49.4 per cent in 1929; 39.3 per cent in 1920; 45.4 per cent in 1915; 45 per cent in 1907; 37.8 per cent in 1903 and 31.1 per cent in both 1897 and 1898. This situation, the low per centage movement in 1956 and J957, may mean one of two things, according to the broker age firm. It may mean evidence of material accumulation or dis tribution. "While the stock market in dex may not presently possess the same validity they did when most shares moved in the same direction," the firm notes, "they still provide indications of trend. "And. in the past more than 20 months it has been a see-sawing market within a narrow range. On a purely timing basis, history suggests that a breakout may not be too far distant. Possibility Raised "Warning signals that have been provided from technical and fundamental factors raise the possibility that what has been patterned in a wide distri bution zone." The Du Pont calculation shows that while the average has moved narrowly percentagewise, the ups and downs have been wide, covering more than 630 points in the average. With volume what it has been the market hasn't had the period of excessive speculation that marks the end of a'bull era. But Wall Street is studying the market from every angle Robert M. Wells Enters Guilty Plea Newport W Robert M. Wells, 44, Portland; pleaded guilty in Circuit Court here Tuesday to three charges of gain ing money under false pre tenses. Sentencing was delayed for pre-sentence investigation. Cir cuit Court Judge Richard Ander son set Oct. 2 as date for sen tencing. . The three charges result from three checks passed at Depoe Bay, on Aug. 26 and 28, 1955, totalling approximately $450. He was taken into custody by Lincoln county sheriff's deputies Saturday after being released from the Oregon State prison. Wells had just completed a three year sentence on similar charges from Jackson county. Funds for VA Program Hearing Exhaustion Portland Funds for the di rect loan program will soon be exhausted, according to Charles Langdon. manager of the re gional office of the Veterans ad ministration, Portland. He said that applications now on file will absorb all funds presently allocated to the Port and office. Applications received from veterans from now on will be given priority in order re ceived, pending additional direct loan funds. Langdon said applications can only be processed and approved upon direct loan funds being made available from Washing ton, D. C, either from congres sional appropriations or from the direct loan revolving fund, which is replaced through the collection of payments in full and payments of monthly install ments on existing loans, he said. Now See . . . Sonotone EYE GLASS HEARING AID Sonotone of Medford C. R. Adamson, Manager 839 East Jackson Phone SP 2-5904 MAIL TRIBUNE just now to plot the probable future. So far the only comment follows the J. P. Morgan pre diction that the market will fluctuate. Investment Broker Firm to Modernize Office in Medford L. Brooks Ragen, partner in the New York Stock Exchange firm of Foster and Marshall, to day announced the merger of his firm and Hogan-Rowan and com pany, investment brokers of Medford, effective Oct. 1. The firm will be in mod ernized quarters three doors south of the present location on South Central ave. They will be equipped with a quotation board, a translux, Dow Jones broad tape news, a private wire system J to New York and other major financial centers. The management personnel of the Medford office of Foster and Marshall will remain the same as the present management of Hogan-Rowan and company. The increased services in enlarged quarters will require additional personnel who will be selected, trained and supervised by M. M. Hogan and James Rowan. The Medford office will be the sev enth office for Foster and Mar shall in the Pacific Northwest. Hogan came to Medford in February, 1924, in the employ of a national investment firm. Within the year he went into the investment business for him self, opening an office in the Liberty building. Changes Quarters Later he moved into the Jack son County Bank quarters. In 1936 he moved across the street where he installed and operated Medford's first translux and quotation board. In 1942 he pur chased the Halley building on South Central ave. and moved into the present quarters. He has served as president of Crater Lake Area Council, Boy Scouts of America, president of the Medford Community Chest, member of the City Council, fi nancial chairman Jackson Coun ty Chamber of Commerce, and is now president of the Rogue Valley Manor, a proposed re tirement home. In June of this year a part nership was formed under the name of Hogan-Rowan and com pany. Rowan had been associated with Hogan in the investment business since he moved to Med ford in 1953. Prior to his com ing to Medford he was engaged in the investment business in Portland, Ore., and before that he was the local manager for the firm of Gilmore Steel and Sup ply company. Hogan and Rowan say they are enthusiastic over the merg er, and feel that bringing the services of a firm with the good reputation of Foster and Mar shall to this area is a decided ad vantage to the investing public. James Bromley To Retire September 30 Grants Pass James G. Brom ley, district maintenance super intendent for the Oregon state highway department, will retire Sept. 30. Bromley has been a highway engineer for 36 years, taking his degree at the University of Utah. He was employed for a time by the Union Pacific railroad, and served in World War I before coming to Grants Pass. He was married in 1915. He began service with the Oregon highway department May 9, 1919, as location engineer. Except for four years from 1928 to 1932 when he served as Josephine county engineer, Bromley has been with the state highway department in various capacities. After his retirement, Bromley plans a trip to Mexico City then establish an office as a private consulting engineer. James F. Putnam, formerly resident engineer for the high way department at Eugene, will succeed Bromley Oct. 1. NO EXCUSE Greenwich, Conn. (IP) Mrs. Anne Dean thought it was okay to drive behind a policeman as long as she didn't pass him but she was arrested by the officer on a speeding charge anyway. The officer explained that he was exceeding the legal limit be cause he was hurrying to an acci- Wednesday, , September 18. 1957 JFT"1 LANDSLIDE VICTORY West ,German Chancellor Kon rad Adenauer waves to adherents in his hometown of Rhoendorf, Germany, after voting in nearby Bonn in the West German general elections. Final returns gave Aden auer's Christian Democrats a 43-seat absolute majority in the Bundestag and an overwhelming indorsement of his policy of co-operation with the West. 0 DIAL Family-size 11-cubic ft. with full width freezer. Magnetic safety door, removable and adjustable door shelves. $299-95 value TEN-DAY SPECIAL PRICE ONLY.. Vorld's most wanted automatic washer 2 wash speeds, 2 spin speeds. Original non-clogging filter cleans and recleans washwater. Regularly $289.95- TEN-DAY SPECIAL PRICE ONLY 4 OREGON GENERAL ELECTRIC DEALERS CUT G.E. PRICES FOR 10 -DAY MILLION DOLLAR SALE! H. nj - DEFROST REFRIGERATOR $ 228 SAVE ON FILTER-FLO! $ 244 30-inch Range 40-inch Range Deluxe Dryer ONLY THREE MORE DAYS! O Home Appliance Company Serves You at Three Jackson County IN MEDFORD - 1 15 East Main and at The Bargain Store IN ASHLAND - 1 1 5 East Main Humor and Charm Found in Names Chosen For Communities Across United States By DOC QUIGG United Press Correspondent New York (IP) The parade of place names ' across America includes such terror and majesty as Hatteras, Monongahela, Rap pahannock, Susquehanna, Chat tahoochee, Painted Desert, and Yosemite but in the line of march there is humor and charm also. Where else in the world can you find such town names as Slap Out, Ala., Bone Gap, 111., Protection, Kan., H a m b o n e, Calif. Cornucopia, Wis., Far Rockaway, N. Y., Jigger, La., and Chilly, Idaho? Where else, for that matter, can you find people with such magnificent names as Quo Vadis Marie McGinnis, Naughtybird Kirksey, Eccehomo Thrapp, and Spengler Arlington Brough, of Filley, Neb.? How Names Originate When the poet wrote "Bury My Heart , in Painted Post," he was speaking of a New York town. And with us today we have Caleb D. Hammond, the big map and atlas man, with some i inside dope from his re search department about how various town names got that way. Take Esdaile, Wis., for in stances. Hammond says this town near the Mississippi river is at the foot of an S-shaped val ley, or dale, and hence the name although how "Dale" became 14" PORTABLE Deluxe portable TV with printed circuits and many other advanced features. Regularly $139 95. 10-DAY SPECIAL r- K5 SPEED COOKING RANGE 30-inch range, all calrod units. Finger-tip push-button controls. 23" master-oven, removable door. Originally $169-95-TEN DAYS ONLY SEE these Appliances On Sole, Tool .' $188 $258 $178 "Daile" is a hazy point. The rather peculiar addition to spelling things backward shows up in such as Etlah, Mo., Egnar, Colo., and Enola, Ark. Early settlers who found the Missouri spot a good stopping place allegedly gave it the re verse spelling of the German word "halte." Names in Reverse Egnar originally was "range," but there were so many other places of that name that the city fathers about-faced the spelling. As for Enola, a local legend is that an early-day heartsick wid ower carved the word "alone" on a board and it later was read backward. Tensed, Idaho, sounds as' if it may have been founded on a nervous note. But no 1 the original name was De Smet. Be cause of a duplicate name in the state, the Post Office Depart ment requested a change. The 1952 Buick Super 4-Door Sedan Th former owner, Don Avory, ii o wheel down around Etna, Hayfork and Happy Camp theater operator to you. This beautiful, maroon, metallic fin ished Buick hat had meticulous care and is loaded with accessories. Also has Nylon tubeless, safety tires that set Don back $40 each, but he insisted on having the best and then seeing that his car is excellently taken care of as you will agree when you see it and drive it. Our price on $70700 this premium automobile is low as ! I W I LEA MOTORS 5th at Bartlett TV SPECIAL! $ 144 Table TV Refrigerator-Freezer Combination Giant Upright Freezer Locations $10 town fathers reversed the spell ing into "Temsed, but in Wash ington where conditions often are all tensed up a mistake in copying gave the place its taut name. Then, there are such grasp-at- straws places as Chilly, Idaho, and Slap Out, Ala. A meeting to choose a name for the Idaho town was getting nowhere until a late arrival announced itwas chilly outside. A similar meet ing in Alabama was about to adjourn, "Slap Out" of ideas, ac cording to Hammond, when one member suggested they give up and name the burg for the condi tion that prevailed at the nam ing session. Pile of Bones Bone Gap" 111., was named for piles of bones found in an Indi an tribal battleground, and Pro tection, Kan., got its name from a big bluff northwest of town Phone SP 2-6185 o PORTABLE DISHWASHER SPECIAL! 1957 model for completely auto matic dishwashing. Needs no in-, stallation, rolls anywhere. Pre rinses, washes and dries TEN DAY SPECIAL PRICE ONLY. . ELECTRIC CLOTHES DRYER Adjustable control makes drying automatic for all type of garments. No special wiring necessary. Originally $189-95-TEN-DAY SPECIAL $198 $378 $328 APPLIANCE CO. I which was used as a fort pro tecting against Indians. Jigger, La., got its name when the postmaster submitted a 25 name list to Washington and in cluded the nickname of his five-year-old son who was a tiny lad and thus was called a Jigger. 7Ai Lesson jm Worth jjf Knowing BORROW THE American Way LOANS $25 to 31,500 Auto Salary Furniture American Finance Corp. Phone SPring 2-8886 123 W. Main Medford 5 V, fif. r 188 EC 4 138 V4r"
