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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Oct. 30, 1957)
SIX MEDFORD (OREGON) MAIL TRIBUNE Market Gyrations Leave Analysts With Another Problem By ELMER C. WALZER United Press Financial Edilor New York 1? Just now one can-get anything from a bear to a bull interpretation of 7i the stock mar ket. Last week's wild gyrations with a drop to new lows since 1954 and a re c o v e r y not seen since 1929 left the analysts with Elmer Waiser a new prob lem, namely will prices continue to rise or will there be an im mediate test of the recent lows. So many Wall Street analysts think the lows will be tested that the old timers wonder if all of them aren't wrong. Standard & Poor's thinks the market is in a position to re spond to any important piece of good news such as a probable relaxation of credit policy. Standard thinks the worst of the decline has been seen. Negative Emotions Arthur Wiesenberger & Co. thinks the negative emotions are stronger than the positive emo tions, and looks for a further decline. Wiesenberger looks for a drop to around 391 in the industrial average which still is well above the 400-mark. International Statistical Bur r ft - , r f,. , ILLINOIS VALLEY Jubilee Topic By HELEN BOTTEL Cave Junction A general dis cission on reorganization of the I linois Valley Jubilee associa t:.on was held recently by mem bers of the association and guests at Kerby. Purpose of the reorganization would be to better distribute work so it would not fall on a few delegates as It has in the past. Don Adams, general chair man, announced another meet ing Nov. 22, at which time a fi nancial report will be made pub lic and proposals for reorgani zation will be considered. Volunteer firemen and wives were honored Saturday at a ban quet and dance at the Eagles hall in Kerby. The United Nations Children's fund will benefit from a Cave Junction trick or treat jaunt Halloween night. Young people of Immanuel Methodist church will ask for coins for UNICEF (United Na tions International Children's Emergency Fund) in the rounds. A party at the church will follow at 8 p.m. Entertainment and refreshments are planned. Kerby Parent Teacher asso ciation memebrs are asked to bring either candy, knick knacks, potted plants, fancy work or articles suitable for prizes to the school Saturday afternoon, Nov. 2. Donations will be used at the Fall Carnival that night. The Halloween theme will be carried out, and a number of prizes for original and amusing costumes are planned. Mr. and Mrs. George Steven son of Portland have taken over Mrs. Elaine Wood's four-room cabin on Sucker creek as a week end retreat. Stevenson is personnel manager for Western Transportation, owned by Crown Zellerbach company. Ronald Drews left Thursday for Long Beach, Calif., to report back for Navy duty. He spent part of his 30-day leave at the home of his parents, Mr. and Mrs. Herb Drews, on the Caves highway. Mrs. Isabel Mellow, chief oper ator at the Redwoods Telephone company exchange in Cave Junction, divided her vacation among seven of her sons. In Portland she was a guest at the home of Mr. and Mrs. Charles Mellow and family. At Gualala, Calif., Mrs. Mel low visited the George Mellow family, while at Santa Rosa, she visited Frank and Joe and their families, and also son, Andy, and his wife, the former Clydus Knight, with whom she spent several days. Andy is attending Santa Rosa Junior college. Mr. and Mrs. Henry Mellow and family of Napa, Calif., came to Santa Rose to visit his moth er, and John and family enter tained her later at Hayward. Laurence Cushing, who at- DR. LEE MELLISH, D.M.D. Announces the Removal of his office from Medical Center Building to 836 East Suite 1 eau finds securities selling on a very realistic basis but notes that psychological factors can extend short term movements beyond reasonable limits. Investors Advisory Institute says the decline so far has done much to correct recent over-enthusiasm the question now facing technicians is whether or not a firm base can be estab lished. Alexander Hamilton Institute says present prices of stocks are so depressed that they are ac tually predicting a very severe break in our economy, a "con tingency which currently does not appear likely." Margins Squeezed "While profit margins are be ing squeezed in many industries current business and the pros pects for it over the intermedi ate term are not nearly as bad as the market would suggest." The Fitch Survey believes that investors should not be tempted by the extremes of the market prognosticators. "The country is neither about to witness a depression nor is at the height of its economic pros perity, although arguments can be made for. both sides of the question," the service says. "The near term trend of the stock market appears to be ir regular it is going through a readjustment . . . The long-term trend would still seem bullish for stocks." of Meeting tended the League of Oregon Cities conclave, took his family and his parents, Mr. and Mrs. Frank Cushing of Canby, Ore., to Dufur, Ore., for the week end before attending the Portland convention. While at Dufur, Mr. and Mrs. Cushing attended a class reunion. S. S. Castleberry and his brother-in-law, 'Joe Russell, of Crescent City, are at Rupert, Ida., where Mr. and Mrs. Rus sell were recently awarded a homestead in that area. The two Russell children are staying with Mrs. Castleberry in Cave Junction while their parents are away. Mr. and Mrs. Harry Ott and Mrs. Ralph Kaiser returned to the valley last week. Mr. and Mrs. Ott had been guests of Mr. and Mrs. Don Rostron of Seat tle, Wash. Recent guests at the Dan Had ranch in Holland were Mr. and Mrs. Willard Froisland and daughters of Richmond, Calif. Mrs. Paul Glines accompanied her husband to Portland last week, where Glines attended the League of Oregon Cities meeting. On a two-week trip to Mon tana are Mr. and Mrs. Cecil Fessler of Kerby who are visit ing Mrs. Fessler's mother and iumily. In conjunction with a project started with the state depart ment of planning and develop ment, the Illinois Valley Cham ber of Commerce is seeking in formation on available sites for small industries. All chambers have been asked to provide information for a di rectory which is being prepared by the department. It will be dis tributed through channels that will reach industrial executives. Mechanical Diggers Cut Power Cables Portland (IP! Two separate accidents involving mechanical diggers operated by power com pany crews resulted in interrup tion of telephone service to As toria points and to a section of northeast Portland, telephone company officials said today. Service to Astoria, Seaside and Cannon Beach was cut Tuesday when the mechanical digger of a power company crew sliced a cable on the outskirts of Long view. A similar accident in north east Portland cut service for 1200 residents in that area Mon day. GOES ONE BETTER Keokuk, Iowa HP Police wouldn't have cared if gas sta tion attendant Duane Gray, 21, had just serviced a car belong ing to Charles Hasper. But they said Gray then stole S129 from the station cash register, order ed Hasper out of his car and drove off. Main St. Phone SP 2-9073 Wednesday. October 30, 1957 Report of Monetary Policies Slated al Timber Conference Eugene Southern Oregon timbermen who will be in Eu gene Friday to attend a Federal Timber Policies conference have been invited to hear a report on U.S. monetary policies by Ab bott Mills of the Federal reserve system. Rep. Charles O. Porter, who called the conference to help de fine federal timber policies, said the invitation came from the Eugene Chamber of Commerce, He said the chamber promised transportation to and from the no-host luncheon in the Eugene hotel for all interested timber men. The timber conference will be held at the Erb Memorial Stu dent union on the University of Oregon campus. It is sponsored by the university's school of business administration. Dr. Vic tor P. Morris, BA school faculty member, will introduce Mills at the noon event, Porter said. Initiate Program The Federal reserve system governor comes to Lane county from Washington, D.C., to initi ate "Operation Nest Egg," a U.S. treasury department p r o g r am designed to stimulate interest in all types of savings. Tickets for the luncheon may be purchased at the hotel. The timber conference starts at 10 a.m. with registration scheduled for 9:30 a.m. to 10 a.m. The morning session con cludes at 11:45 a. m. and per sons wishing to hear the Fed eral reserve representative may board .busses outside the Stu dent Union entrance. The afternoon session starts at 1:30 p.m. Representative Por ter said he had received word that interest in the timber meet was considerable. He 'said state ments concerning problems in the industry may be filed by in terested persons. Top sales policy people in the U.S. forest service and bureau of land man agement will be present at the day-long conference. Maloney Conspiracy Trial Due For Jury Portland (IP) The conspir acy trial of Thomas E. Maloney, Seattle and Spokane race track figure, was expected to go to the jury today. Defense and state attorneys rested their cases Tuesday. Clos ing arguments were to be made this morning. i Maloney is accused of conspir ing to promote gambling opera tions in Portland with Seattle cardroom owner Joseph P. Mc Laughlin and former District At torney William Langley. The trial is in its sixth week. Mayor Terry Schrunk was one of the final defense witnesses. He told about coming into Port land while he was sheriff of Multnomah county to close two gambling places. Jury Selected For Sherry Fong's Trial Portland (IP) A jury of five men and seven women was picked Tuesday to hear the fourth murder trial of Sherry Fong, accused of the 1954 death of her baby sitter, 16-year-old Diane Hank. Mrs. Fong is on trial on a second degree murder charge. The jury was seated shortly after 2 p.m. The defense waived presentation of opening argu ments. Deputy District Attorney Robert M. Christ told the jurors the state would present the case as it arose, from the close friend ship between the Fongs and the victim, to the discovery of the body and the arrest of Mrs. Fong. The Hank girl's body was found near Washougal, Wash., on Feb. 26, 1954. She was last re ported seen alive at the Fong home Jan. 6, 1954. THE FINEST WOOD -c HEATER . c0 4 0 '' 24 HOUR THERMOSTATIC DOWNDRAFT WOOD HEATERS BUDGET TERMS We will repair your Old Stove or sell you the necessary parts if you Do-lt-Yourself. Y BIG SUPPLY Lawn & Garden Equipment Center Ph. SP 3-3160 1948 N. Pac. Hwy. NEW CHEVROLET Effectiveness of the 1958 Chevrolet styling is shown by this front-rear view of the Impalas, luxury models in the Bel Air series. The new Chevrolets will be on display Thursday, Oct. 31, at Courtesy Chevrolet, Ninth at Bartlett sts., Medford. In addition to complete body redesign, the latest Chev rolets feature level air suspension or all-around rigid spring suspension, a more rigid frame and body and an unusual new V-8 engine. Station wagon, Biscayne and Delray series are of fered. The Bel Air series is continued, but adds among its six models a sumptuous sport coupe and convertible under the Impala nameplate. PERFE YOU LIVE BETTER Ny 4 CT WASHDAY HAVE AN CLOTHES DRYER IN YOUR HOME! NO WEATHER WORRIES when you have an electric clothes dryer . . . you can turn on the sunshine inside your home simply by flicking a switch I NO LIFTING AND STRETCHING, no heavy wet clothes to carry outside and hang, to be battered by the elements . . . electric clothes dryers take the work out of washday I SAVE TIME, SAVE MONEY, SAVE WORK, SAVE YOUR SELF WITH AN ELECTRIC CLOTHES DRYER. ..DO YOUR LAUNDRY ANY TIME PAY OR NIGHT), IN ANY KIND OF WEATHER. SEE THE LATEST MODELS AT YOUR FAVORITE APPLIANCE DEALER'S TOMORROW! THE CALIFORNIA OREGON POWER COMPANY A Western Company owned and operated by Western People Industrialist Answers New York (IP) George R. Dempster, 70, a millionaire in dustrialist from Knoxville, Tenn., won $16,000 for some lucky viewers Tuesday night on "The $64,000 Question" CBS televis ion quiz. Dempster, whose category is politics, agreed to give all his winnings on the program fo per sons whose names were drawn from bags of postal cards mailed in to the quiz. He could earn as much as $256,000 for the view- MUSHROOMS FATAL Bernay, France (IP) Four of a family's five .children have died and the parents have been made critically ill from eating poisonous mushrooms, author ities said today. Mrs. Paul Dobo ai, 36, cooked the mushrooms last Friday night and served them to her husband and four of the five children. One child became ill Monday morning and died almost immediately. The parents and three other chil dren also became ill, and the youngsters died Thursday. Only five-month-old Nana escaped the effects of the meal. ELECTRIC $16,000 TV Question ers. The $16,000 question involved naming defeated candidates in several presidential elections. Ernest Pecci, an electronics ex pediter from Medford, Mass., flunked the $16,000 test on the English language and received a Test a '58 Studebaker with Twin Traction for sure-footed power in mud, sand, ice or snow. Studebaker-Packard DE' LEIGH MOTORS 134 South Riverside Ave. Medford, Oregon V WEATHER, . IF - - i I 1 A 11 !' CLOTHES LAST LONGER ... less wear and tear ... no fading . . . and you have fewer clothes to buy (especially for the youngsters) since clothes can be washed and dried the same day I LESS IRONING TO DO when you have an electric clothes dryer . . . towels, play-clothes and knit goods come out wrinkle-free ready to fold and put away I consolation prize of an automobile. SLABWOOD Green or Dry PHELPS FUEL GO. Phone SP 3-5878 ()
