Medford mail tribune., November 01, 1957, Image 22

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EIGHT MEDFOHD (OREGON MAIL TRIBUNE
rriday. rfYembf 1, 1957
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Leye! of Market as o
Confidence Indicator
Eyed by Wall StreetQ
By ELMER C. WALZER Steel companies have been
United PresFinancial Editor j making a good showing, topped
New York M wall Street is
making much of President Eisen
hower's stattQnent that his ex
perts view the
level of the
stock market
more as an in
dicator of con-j
fidence in the
economy rath
er than an in
dex of what
t h e economy
is doing.
Eimer Waizer The conserv
ative market men point out that
the economy has performed
much better than the market.
The economy' has leveled out
and held around a record high
while the market has fallen 20
per cent from its high to its low
point. PN
The big reason for the decide,
it has been said, is a profit pinch
that was expected to show up in
bold relief in the third quarter
reports. 0
The reports coining to hand so
far contain a long list of higher
earnings, some records. And the
changes on the whole are small
enough. to indicate the over-all
result for the first nine months
may be a gain over last year in
stead of a decline as many had
anticipated.
by U.S. Steel which set a sales
earnings record for the first nine
months.
Lower operations are foreseen
for steel in early 1958 but the
output is expected to leave the
companies with sizable profits.
A long list of companies re
ported record sales and net in
come for the first three quarters.
Standard of Jersey earned S3. 35
against S3. 07 a year ago.
Its net profit of 660 million
dollars puts it on top of the heap
of American corporations, beat
ing the previous record holder,
General Motors, which had a net
profit of 603 millions in the pe
riod and showed a dip in earn
ings to S2.14 a shar)from S2.28
last year.
Gains over a year ago
been reported such compa
nies as Ford, Chrysler, Du Pont.
RCA, American Can, the tobacco
companies and many others.
Some Fare Poorly
Alc did well in the third
quarter but was down for the
first nine months. The copper
companies have been hard hit in
earnings as had been expected.
Kennecott. for example, sijotved
net of S6.01 agiirist S10.72.
Airlines fared poorly and so
did most of the rails and this
situation also had been antici-
o
TheyU DoJt Every Time
iNi PHUMPHER,THE FIGHT EXPE3T&
BOOK, you HAVE TO CO ALOH6 WITH
THE CHAMP'AUD WHY? VV .QUOTE:
Jimmy Httfc
o
a.
is - . .
V-MO mm THE TYkO Wn?sfMT
UOci WJMPHBRy? m: WT HE
BEEN SINS R57 OF CUSS
IS TOO GREEN TO $ WSS4iryWrL
A - A 7 BOTHER THE CHAMP.; ) & WILL E WED
M eSUM 1 VERM'S
CS4 Jirt H4SNT K40 ENOUcjW Jt- flfS LE&S JUST W'OtiLDT
INEMQd FIJ5 UrtDERHWP HOLD HIM URTrtE
SSSSSS -JtM-flSU CHAMP waPio 1 ,
3 0
v. )
Numbering Plan Ready
For CQve Junction
q Cave Junction A--riumbering
plan for the city oiTave Junc
tion has been completed. Res
idents are asked to check on a
map at the city office to de
termine numbers for their prop
erties. According to City Recorder
Paul Glines, who made up the
map approximately every 25
THEY GOT TO GO'
Indianapolis (W Marion
County Sheriff Robert O'Neill
explained why he issued an or
der to have Elvis-type haircuts
cropped by the jail barber. He
"detests" them.
feet of frontage will receive a
ijymber, with odd numbers on
ttte left hand side of the street,
even on the right.
O
A recent survey by the Vet
erans Administration disclosgl
that VA patients read six times
as many books as the general
American public.
SLABWOOD
Green or Dry
PHELPS FUEL GO.
Phone SP 3-5878
pated. A strike cut cement com
pany earnings. Textiles con
ued under pressure.
But the main list of reporfs
available so far has made a cred
itable showing, according to
market men. Hence the market's
dim view of t economy may
have been too much on the pessi
mistic side, they assert. But that
doesn't mean it wasn't too high
in the first place, they add.
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to displaPairpower0
Washington (W The Defense
Department has announced that
a token display of U.S. airpower
will go on display in Argentina
nextfJnonth. A good will visit of
fighter and bomber jets will co
incide witlQkrgentina's Aviation
Week, Nov. 10-17. The vsit will
give Argentines their first look
at the B-47 Strato-Jet and B-52
Strato-Fortress. among others, q
tto
A NOVEL $CATFORM
Bellbrook, Ohio (TO Ray
Miller, 65, says he has only one
plank in his platform for mayor
in next Tuesday's election:
"Don't xQte for me." Well
meaning friend put theQ-etired
wldr's name on the ballot but
he says he would much rather
tak a long-de3ye) vacation to
California thjjn rve as mayor.
Tfli fiili
, MAKES 1H
fflY EM
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FDR "58
I. . ,
11 I - J I - )
Sust deceived .. .
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ANNOUNCING ANALogW3 fcyKUKtf Af$
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IN A LOWER PRJCP FlEfcQI
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CHRYSLE
The Glamoroys frl&Ytf
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Supply Is Limited .. . So Hurry!
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Other Hotpoint Dryers as tow as $13995
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orth Central Across from Pennoy's Medforfl
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i
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qWALT'SPLITHIA MOT5S
O 56-60 North Main Streekli A0
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CD
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o
MEDFORD MAIL TRIBUNE
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