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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Jan. 1, 1958)
V;S '.3 i m si .1 f i V) :-.y --,, M Vvj m Local and Garbage Dumped Gor don Meyers Sardine Creek, complained to sheriff! offic ers Monday that garbage wa dumped on his property sev eral times during the month. Air-Conditioner Taken Mrs. Charles Miller, 1930 Barnett rd,, reported to sher iffs officers of the theft of a Chico portable air-conditioner from a house at 400 Fifth St., in Phoenix Dec. 29. Vandalism Reported Ev erett Huffman of Huffman Brothers Wrecking, 1618 North Riverside ave., report ed to sheriffs deputies Mon day that gas hose was cut at the yard and some gas spill ed. Tools Taken Ralph David Tipton, 503 Maple st., told city police Tuesday about $40 worth of tools were taken 'from the back of a pickup truck while it was parked in front of 1182 Court st. some time last week. Camera Gone Wayne R. Welty, 237 Girard dr., report ed to Medford police Tuesday a camera, valued at $70. was taken from the Western Thrift store, 30 North Central ave., during the past week. Police said the camera was taken from a display board. Parking Sign Hit Police said a parking sign was knocked down by a car Tues day evening at Eighth and Holly sts. Police said the car apparently was damaged as upveral erill parts and a wa ter trail from the radiator were found. Aerial Broken James Dar ren -Renson. 2665 Crater Lake highway, reported to city po lice radio aerial was proxen off his car while it was park ed in the Safeway parking lot. Main and Ivy sts.. Tues day night. 4; r Cited Marvin H. Bohnert, Z 21, of route 1, box 60, Grant ; rd., Central Point, was cited "i - for violation of basic rule after -1 - a car he was driving was in- -: volved in a collision with a 'i Z car operated by James Med z Starnes, route 2, box 817B, J. Z Central Point, about 6:15 p.m. 1 r Tuesday, according to state police. The accident occurred at Bybee and Central Point - market rds., they said. . , : Accident Rube J. Smith, ". 169 East Glenwood rd., and : Thelma Maxine Collins, 148 Alida St., Ashland, were driv- - ers of cars involved in an ac- - cident t Highway 99 and the p department of motor vehicles office about 2 p.m. Tuesday, ' according to state police. They said Mrs. Collins was cited for failure to operate on the right side of the road. Collir-ion Cars operated by Bobby Parris Medcalf, 103 Narrigan st., and Edith Evelyn Rawlings, route 1, box 405, were involved in a collision on Stewart ave., east of Stage rd., about 3:45 p.m. Tuesday, according to state police. Po lice said Medcalf was cited ' for failure to operate on the right side of the road. Signs Damaged Medford police reported Wednesday morning three stop signs were ; pushed down by a car Tues J day night. The signs, located - at' Queen Ann and Lindley - aves., at Third and Bartlett j sts!, and at Jackson st. and Z Crater Lake ave., were brok er en off at the ground, police said. They said tire marks in--: dicated the car was driven along the parking area each time before the signs were struck. : Accident Cars operated by Harold Wesley Shock ley, u route 1, box 380, and Owen Eastone Shroyer, 447 North Fir st., were involved in a collision on North Grape st., between Sixth and Seventh sts., about 10 a.m. Tuesday, .r-rnrdin? to Medford police. They said no citations were issued. TONITE! $1 Per tar WILLIAM CAMPBELL f -- imp tf Munrii - - mam it fan uuxtn KEENAM WYNK mam Brass U I.WfflTBRUM T? w J TV,WYATTfA" iiSr -.mi Personal Flue Fire City firemen were called to a flue fire about 9:50 a.m. today at the Dolly Goddard home, 2251 Barnett rd. t Gun Missing A German Luger was stolen from Ed ward F. Smith, 401 East 12th st., about Dec. 1, he reported to sheriffs officers Tuesday. Smith now lives in Central Point. Council Meets The North west Mining council will hold its regular meeting at 8 p.m. Thursday in the Jackson county courthouse auditor ium, a spokesman announced. Gold laws will be discussed at that time, he said. " Tire Taken A spare tire was removed from a station wagon owned by Mrs. Emma L. Herndon, sheriffs deputies were informed Monday after noon. She told the officers the tire was taken sometime Sun day when the car was park ed in the driveway of her home at 1414 South Stage rd. Collection Missing A coin collection valued at S200 was reported missing to Jack son county sheriffs officers by Jack Bailey, 66 Clover lane, Medford. Bailey told of ficers the collection was tak en sometime since March. It was kept in the foot locker in Bailey's house, officers were told. Tree Bulbs Taken Archie Carlton Pierce, box 99, Pierce heights, reported to Medford police Tuesday evening 33 Christmas tree bulbs were taken from an outside display in front of his home about 5:30 p.m. Tuesday. Police also said Elbert Joseph Tousig nant, 137 Willamette st., re ported -the theft of Christmas tree lights valued at $7.50 Tuesday afternoon. Births PHILLIPS To Mr. and Mrs. Alvin, 608 Park St., Med ford, Dec. 31, 1957, a girl, weight 6V4 pounds, at Sacred Heart hospital. DAVIS To Mr. and Mrs. Lawrence, 2711 Beal lane. Central Point. Dec. 31, 1957, a boy, 734 pounds, at Sacred Heart hospital. ANDERSON To Mr. and Mrs. Martin, 204 Sunrise ave., Medford, Dec. 31, 1957, a boy, 6v pounds, at Rogue vauey hospital. McMILLAN To Mr. and Mrs. Jackson, 1145 Spring st., Medford, Dec. 31, 1957, a boy, 63i pounds, at Rogue Valley hospital. 30 Reported Killed in India Train Crash New Delhi (IP) An ex press train smashed, into a passenger train today at a railroad junction. First reports said 30 per sons were killed and 100 in jured. Some of the passengers burned to death in a fire that followed the collision. The accident happened six miles from Ambala, in Pun jab, at the Morei station rail way junction. The New Delhi-Pathankot-Janata express train was bound to Ambala, while the passenger train was traveling from Ambala to New Delhi. Weather FORECAST Medford and vicinity: Consider able cloudiness this afternoon to night and Thursday with occasional light rain this afternoon and to night and a few showers Thursday. Occasional gusty southerly winds. High todav 48-50. low tonight 38, high Thursday 48 degrees. Western Oregon: Increasing cloudiness this afternoon with a little light rain along coast. Mostlv cloudv wiht a little rain tonight and "Thursday. Not quite so cool tonight. Low tonight 32-42. High Thursday 44-50. Northern California: Light ram San Francisco northward tonight and chance of light rain Sacra mento northward early Thursday. Otherwise partly cloudy through Thursday. Little temperature change. LOCAL DATA Temperature: Mean yesterday 35; below normal 2. Record high this date 65 in 1939. Record low this date 11 in 1919. Precipitation: 24 hours to mid night 0. Midnight to 10 ajn. 0. Total this month 4.22 in., 1.09 in. above normal. Total since Sept. 1 8.64 in .28 in. above normal. Humidity: lowest yesterday 71 highest this n. 95. - High 4:00 24 City Yester- a.m. nr. day Low Prec. Brookings 60 Crater Lake Grants Pass .... Klamath Falls 31 MEDFORD 44 41 25 32 31 41 20 19 7 36 44 53 55 17 IS 70 46 42 Portland 46 Seattle 48 Spokane . 30 37 . 59 - 55 53 5K 75 74 38 35 77 Yakima Eureka Red Bluff Sacramento .... San Francisco Los Angeles Phoenix Denver Chicago IMtami .05 .10 T Njw York 49 Washington, D.C. 49 FIVE DAY FORECAST (Through Jan. 6): Western Oregon-Western Wash ington Temperatures ave aging above normal. Highs western Wash ington 44-52. western Oregon 46-53. Lows 34-46. PreciDitation moderate. oc-euring mostly Sunday or Monday, i Northern California Recurrent j rain with snow in high mountains. Temperatures above normai. ) Obituaries LESTER F. ELLIS Funeral services for Lester F. Ellis, 56, will ba held in the Zion Lutheran church, Fourth st. and Oakdale ave., Thursday at 2:30 p.m. The Rev. G. Herbert Hillerman will officiate. Committal will b in Siskiyou Memorial park. The body will lie in state until Thursday noon. Mr. Ellis was born in On laska. Wis., Aug. 11, 1901. On Nov. 15, 1929, in Minne apolis, Minn., he was married to Margaret Bruins, who sur vives. Also surviving are three daughters, Mrs. Charles Gar rett, Ashland; Mrs. Chester Baker and Mrs. Dale Garner, both of Medford; a grand daughter; and three sisters, Mrs. Esther Jack, Minneapo lis; Mrs. Oris Holter, Minne apolis; Mrs. Louis Lauritzen, Santa Clara, Calif. Honorary pallbearers will include Anton Lausmann, Ed die Glover, Stuart McQueen, Earl Bigalow, and Gene Champagne. Active pallbear ers will include Paul Ryn ning, Knute Lindgren, Hugo Guenther, Arthur Scarseth, William Gates, and Martin Paulson. Friends who wish, may in lieu of flowers make a con tribution to the Zion Luther an church memorial fund. OTIS G. TYRER Yreka Otis G. Tyrer, 87, of Hornbrook, Calif., died in the Siskiyou Community hos pital about 4 a.m. Tuesday. Mr. Tyrer had been in the hospital since Nov. 27 when he suffered injuries in a fall at his home. He was born in Central City, Okla., May 1, 1870. He worked briefly as a miner in the Colorado area before coming to the Horn brook area where he mar ried Grace E. Williams Nov. 30, 1899. He had lived in the Horn brook area for more than 50 years. He served as a fore man of a maintenance crew for the California state high way department for a few years but worked as a profes sional miner most of his life. Mr. Tyrer was a life member of the Knights of Pythias in Yreka. Survivors include his wife, Grace E. Tyrer; two sons, Charles (Eve) Tyrer, Sacra mento, and J. O. Tyrer, Duns muir; and " two grandsons, Dick Tyrer, Sacramento; and Michael Tyrer, Yreka. Rosary will be recited at 8 p.m. Thursday in the Yreka Funeral home and funeral services will be held at 10 a.m. Friday in the Hornbrook Catholic church. Interment will be in the family plot at the Henry Hornbrook ceme tery. 17 Bodies Taken From Lake in Venezuela Maracaibo, Venezulea (IP! Rescue teams have recovered the bodies of 17 oil workers who drowned in Lake Mara caibo last Friday, officials said today. One other worker still was missing and was pre sumed dead. The workers were thrown into the water when a 125 ton oil rig . collapsed on a barge and capsized it at one of the Shell Oil Company's concessions to drill for oil under the bed of the lake. King-Size Tax Worry For Minnesota Man Fargo, N.D. IIP) W. E. El liott of Moorhead, Minn., woke up today with a king sized tax headache. Elliott wrote a North Dako ta newspaper he already pays a Minnesota income tax and, under a new law, may have to pay a North Dakota tax. Besides, he works for a Dela ware corporation, takes or ders from a Michigan office, lives in Minnesota, works in North Dakota for a firm which also serves South Da kota, and gets his pay check from Wisconsin. Perhaps, Elliott suggested, he should quit his job and seek welfare assistance from all six states.. BMUY and OA IKY QUEEN COFFEE SHOP Will Be Open TOMORROW -JAN. 2 4 Hours 9 a.m. to 6 p.m. CLOSED TUESDAYS 450 S. Central Stock Prices G3ip on Wide Swings; Steadier Market Forecast for 1958 By ELMER C. WALTZER United Press Financial Editor New York OP) Stocks de clined in 1957 for the first time in four years after a five month advance that all but at tained the record high set in industrial shares on April 6, 1956. Three wide swings In the trend of prices recalled, the 1929 boom-bust on a small scale in volume. Otherwise the market was a contrast to 1929. This was an adjustment in an investment market. Turnover in 1957 about equaled the 566,284,172 shares of 1956. Only 12 per cent of the shares listed turned over in contrast with 1929 when 119 per cent of the shares was traded. Actual 1957 dealings involved S25 billion and ac tual losses amounted to around $3 billion. But in the process of swing ing down, then up, then down, 'and finally steadying on a small recovery, the changes in valuation of all the near five-billion listed shares regis tered fantastic figures. From January 2 to Feb. 12 values dropped by $20 billion. Then a rise lasting to July 12, when the year's highs were set, carried valuation up by $32 billion. A precipitate de cline lasting to Oct. 22, when the 1957 lows were set, wiped out $48 billion of values. A subsequent $12 billion recov ery left the value of all listed shares down $24 billion for the year. One In Eight Traded The 1957 decline from the year's high to the low amount ed to about 100 points in the Dow-Jones industrial average or about 19 per cent. In 1929, the drop from the high to the low was 48 per cent. Average daily trading in 1957 of 2,250,000 shares con trasted with the 1929 turnover of 4,276,808 shares daily. Valuation of all listed shares at the 1957 high set at mid-year was around $230 bil lion against the 1929 top on Sept. 1 of $89 billion. In 1929 shares listed reached one bil lion for the first time. In 1957 they approached five billion. The 1957 turnover of only 12 per cent meant that only one share out of each eight listed was traded during the year. The other seven were tightly held by investors, big and little. If the 1957 market were to have equaled the 1929 one in turnover of listed shares, the daily sales would have had to run to 22,576,944 shares on average. That's more than 10 times the 1957 actual trading. In early 1957, the market was 'bedeviled by talk of de pression. Some Washington of ficials talked of a "hair curl ing depression" if the budget weren't cut. And budget cut ting talk frightened traders as much as the depression talk that accompanied it. Tight money was driving down bonds and casting a pall over stocks which also suffered from the Middle East prob lems. The result was a decline in prices. Pinch Brings Sellin? Then depression talk sub sided and inflation seemed to be having a bigger play. The market went up stead ily until TJuly 12 when at its peak the industrial average was only 0.28 about a quar ter point under the all-time record of 1956. About that time tight money was having its effect and ap parently could no longer be ignored. Business was slack ening and its profits were be ing pinched by high costs which could not be recouped in selling prices. This could and did in some cases mean lower dividends. Selling set in and prices fell fast. The de cline accelerated when Rus sia put satellites into orbit. Presiden t 'Eisenhower's health was a market factor twice his "stomach ache" of June 10 and his "mild QUEEN stroke" Nov. 26. Washington revealed the na ture of the latter 20 minutes before closing time on Nov. 26 and in that third of an hour the market turned over at an hourly rate of three million shares with prices breaking sharply mere than" nine points in the industrial aver age and values falling by more than $5 billion. Next day the market more than made up its losses but many investors were hurt. Right then Wall Street ap parently concluded that the President's health henceforth probably would have less in fluence than in the past on the market. It had swayed prices since the heart attack market of Sept. 26, 1955, when in dustrials had their second wid est drop in history 31.89 points most since the mar ket of Oct. 28, 1929, when the drop was 38.93 points. Nixon Influence Rising Market experts said that while the president was very highly regarded in business and financial circles, Vice President Richard Nixon could be an able successor. As Ger ald M. Loeb, a senior partner in the brokerage firm of E. F. Hutton Co. put it: "The rising star of Vice President Nixon will have more and more influence." . Late in 1957 the market was chilled from time to time by such developments as a drop below 70 per cent in steel operations, poor earnings and lower freight movement for the railroads, talk of poor reception for the 1958 auto models, and a fear that retail trade might not measure up. But the market had been well liquidated. When it hit the year's lows on Oct. 22 many investors including some big ones like mutual funds and institutions con cluded the selling had been over done. The industrials had closed that day at 419.79, a new low since May 18, 1955 and rails at 107.21, a new low since June 9, 1954. On Oct. 23, buying went wild helped not only by the belief the market was a bar gain, but also by a statement by President Eisenhower warning against over-pessimism, and the successful fir ing of a Jupiter missile which to some extent offset Russian propaganda on its missile ex ploits. The result was that the in dustrial average soared 17.34 points on Oct. 23, the widest rise since Nov. 14, 1929 and the rails, up 5.91 points, had their best gain since Sept. 22, 1931. Later the Federal Reserve System reduced the discount rate which was seen as the herald of easier money. Stocks improved and bonds moved up sharply with Wall Street predicting a bull market for bonds. Anticipation of easier money was a major factor in the outlook for 1958 in the market. Economists had is sued some not unfavorable predictions on industry in the coming year and Wall Street STARTS TODAY - CONTINUOUS JOHN WAYNE SOPHIA LOREN ROSSANO BRAZZI UKT UkSZMAt SOMA MOSCt breathed easier. But the mar ket still held some difficulties. First of all investor confi dence had been shaken to the point where it was believed some time might be required to restore it. Secondly, there was no indication a profit pinch on industry would soon end and this in turn brought the belief that dividend pay ments would be smaller. Business predictions were that the first half of 1958 would be marked by further recession. The economists be lieved that smaller outlays by industry for plant expansion and improvement would be made up by higher defense spending and possibly by some make-work schemes. An upturn was forecast for the second half of the year slow at first and then with a spurt in the fourth quarter. Market experts, taking their cue from this picture saw some further uncertainties for the share list earljftn the year, a steadying in the third quar ter and a good rise in the final three months of the year. They believed the market would set its lows in the late winter or early spring and its highs in the late months of the year. Some believed that when the market finally got into action on the upside the lead ership would center on issues which currently are in -the least demand. This group in cluded the steels, rails, chemi cals, and base metals. Rail roads were hard hit most of the time. That group last about 33 per cent on the year. Coppers were sold heavily when the price of copper dropped on over-production. Credit never a serious matter for stocks was a factor nonetheless since it in fluenced business and bonds. The stock market was aided "by a 70 per cent margin re quirement which meant that the decline brought out only moderate amounts of forced selling in contrast with 1929 when the speculation of the time was done on a shoe string. With credit for stock trad ing shinking there was talk that the 70 per cent margin Falling Plywood Kills Eugene Man Eugene (W A 28-year-old plywood worker, Lemuel M. Davidson, Eugene, died of injuries suffered when a stack of green plywood fell on him Tuesday afternoon at the Multi-Use Panel corporation plant just north of here. Ivan Taylor, plant super intendent, told the Lane county coroner's office that Davidson had just finished a rest period and was walking by the stack returning to work when it suddenly tip ped over and pinned him to the ground. The accident oc curred about 2 p.m. He died soon after arrival at a Eugene hospital. Surviv ors include his wife and two small children. f?H7S llffiW ftm KM) Bld-5r La Wdniay, January 1, 1958 requirement might be reduced at least to 60 per cent or even to 50 per cent early in 1958. Despite this prospect and the indication that business in 1958 will set a high level overall, the market still faces a test of its Oct. 22 lows, ac cording to the experts. If it meets that test without setting new lows a fairly good rally might come, the experts as sert. If, however, the old lows of around 419 in the indus trials are broken there is a chance the market will go below 400 in that figure. Some predict a possible 385. Once having made its test, the mar ket is expected to level off and move narrowly with se lectivity the key note as it was through 1957. No big rise is foreseen. Some set the top for the year at 470 about 50 points under the 1957 high. Two Killed in Crash South of Harrisburg Eugene (IP) Two teen-age boys were killed and another was injured when their auto mobile went out of control and crashed through a guard rail on the Highway 99 bridge just south of Harrisburg about 7:25 a.m. today. State police identified the dead at Kenneth Waldo Jones, 17, and Larry Gene Baird, 18, both of Oakland, Ore. Billy Donald Granford, 17, Oak land, was injured and brought to Sacred Heart hospital here. Police said the Granford youth's injuries were not be lieved serious. Riot Follows Choice of Nuevo Laredo Mayor Nuevo Laredo, Mexico (IP! Police took over headquar ters of the Independent party today following a riot which killed one person and injured several others. The riot broke out yester day in front of the town hall when officials announced the election of official party can didate Luis Trevino Tena as mayor of this border commu nity. Backers of Independent party candidate Tomaciano Echavaria started a demon stration and then battled Tre vino Tena supporters. PLUS SIX GUN ACTION : Trooper : Hook FROM 1:00 P.M. NOW PLAYING ;ujy 1 1 rmrii II MEDFORD (OREGON) Russia ILDecBared Pushing Forward On Reclamation Washington (TP) A Demo cratic senator warned today the United States is "rapidly losing out" to the Communists in another "vital area" affect ing national defense water resources development and climate control. Sen. James E. Murray (D- Mont.) said the Soviets are putting "more effort and em phasis" on irrigation, hydro electric, flood control, and water transport programs than they are on missile and satellite development. Murray, chairman of the Senate Interior committee, said Russia has been announc ing "fantastic" plans for such projects to cover vast areas and for "even changing the climate of whole provinces." He called on President Ei senhower to give the matter his immediate, personal atten tion -to prevent the Commu nist bloc from further "out stripping" the nation in water development. Concern Over Budget The senator made the state ment in a new committee re port to the President compar ing U. S. progress in the field of water resource develop ment with that of Russia and Communist China. The report, issued Tuesday night, was prepared at Mur ray's request by committee consultant Michael W. Straus. It came at a time when Mur ray and other western legisla tors were expressing concern over reports that funds for reclamation projects will be cut sharply in the budget for the 1959 fiscal year. Straus, reclamation com missioner under Franklin D. Roosevelt, said Russia and Red China are "driving for EEQJQX7 STARTS TODAY - CONTINUOUS FROM 1:00 ?JtA. A Swell Show The scandalous saga of a butler ' !l wxu, a very, buttle ! . J I mm m mm m t. .- -it. r .. . ,....-. ' mm 1 r tC III Xi'r IMA W JWt l M V i' f m in IB u warm v - ? m w " , n t-f ifi IASTMAN COLOR GneniaSczoF3---- Jt55lt WTULANUfc'KUBtKI ltllM HinTM nVTl JEVA GABOR - JAY ROBINSON - CO - MAMMY-ADAMS- HOVEY $fc j-'Jjs sty BARGAIN PRICES Adults 65c Students 50c Children KIDS FREE IF WITH AN ADULT JOIN Songs, dances, gaiety, delight! A tour of amour! The picture to watch for! KAIL TRIBUNE ELEVEN ward river and water resourca development programs that are overtaking those of tha United States." He said a recent Federal Power Commission study shows that during the period from 1948 to 1956 Russia in creased its overall power-generating capacity by 137.8 per cent, compared to a 96.8 per cent increase for the U. S. in the same years. He said that the sources h consulted in preparing the re port were "unanimous" in agreeing that the Communists are "out-stripping" the U. L in water development. .; Vast Soviet Projects Straus said a review of "of ficial literature and propa ganda" from Russia shows "fantastic announcements of plans for vast irrigation enter prises involving such items as 600-mile canals, reversing enormous rivers, cutting through or removing moun tain ranges by atomic blasts, and even changing the climate of whole provinces." Briton Sees Nuclear War Ending Humanity London (IP( Prof. Cecil F. Powell. Nobel prize-winning British physicist and president of the World Feder ation of Scientific Workers, warned today that a nuclear war would be the end of civ ilization. In a New Year's message ta scientists, Powell said, "Life for any survivors would hava little or no relation to life as we know it. It would likely mean a great break with all that has been built up by humanity." r..:iii--' for the New Year . JEFF DONNELL- MAIi I IIA DILI FEATURE 25c STARTING SUNDAY ee AjfDSESAWOi'. . "t V, : 7 "-"J v.s vn AT LAST THE ONE EVERYONE'S WAITING FORI
