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
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24 HOUR THERMOSTATIC
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BUDGET TERMS
We will repair your Old Stove or
sell you the necessary parts if you
Do-lt-Yourself.
Y
BIG
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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
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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
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