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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Jan. 1, 1958)
MEDFORD (OREGON) MAIL TRIBUNE THREE Babson Predicts oodlands Price ike To Continue Wednesday, January 1. 1958 I w t i . 1 - ill - t --. J . (Continued from Page 1) 38. Well-located woodlands will continue to increase in price. This certainly applies to pine wood tracts, especially in the South. 39. Canadian oil reserves should begin to recover in price unless there is rationing of gasoline in the United States in late 1958. 40. The most important factor in connection with real estate is the parking problem, which is a curse of almost every city. Suburban real estate and farms owe much to the automobile, but the automobile industry is now reaching a stage where it could revolutionize present real estate prices. We owe the automobile industry a debt of gratitude for our present prosperity. It is a bellwether of general business for 1953. It is, however, like everything else, subject to the business cycle and may be a cause of the next depression. Another probable cause will be the failure of one of the big ' corporations whose stock is among the "30 Blue Chips" of the Dow-Jones Industrials. Slock Market To Be Downward 41. The "bloom is off the stock market" We will have rallies and reactions during 1953, but the broad trend will be downward. This is the first time for many years that I have said this in my annual report. There is too much talk about missiles, bombs, and failout. ' 42. While the stock market has been going up during the past few years, the bond market has been going down. The reverse will take place during 1958. While the stock market is going down, the bond market will begin to creep upward. This especially applies to tax-free bonds, the pur chase of which I strongly recommend. 43. Good cumulative non-callable preferred stocks will also be in demand during 1958. Owing to the money market, they recently suffered in price; but owing to lack of supply, they will be the first stocks to recover. Remember, I am now recommending only high-grade cumulative non-callable pre ferreds. 44. The large fortunes made in the stock market have come from buying non-dividend-paying stocks at $5 a share or under. These will be the first to reach a buying level. If you are to buy these low-priced stocks, you should seek com panies without too much cumulative preferred stock out standing. This is the opposite of the "preferred" recom mendation in paragraph 43. 45. Large bank balances will continue to be a good investment in 1958. Many savings banks are now payin;. 3 per cent to 3',2 per cent interest. These balances, however, should not be looked upon as permanent investments, but rather as a means of enabling you to have cash available when common stocks reach a low level. This time may come in 1958. Here again, much depends upon President Eisenhower's condition. 46. Although many corporations interested in atomic en ergy,' electronics, rare metals, and other growth industries will become more prosperous and profitable to investors, some of these new companies will be wiped out. Hence, in vestors should be very careful in connection therewith. Electric Power Always in Demand 47. Utility stocks should hold their own with regard to j dividends and marketability. Electric power will always be in demand. 48. Most railroad stocks should be avoided. Most pas senger business is now being operated at a loss. Trucks, j buses, airplanes, and private automobiles will ultimately force the government to take over the railroads. In the mean time, the securities of the long-haul railroads, which spe cialize in heavy freight, will be the best to own. The short haul roads should be avoided by investors. 49. Notwithstanding the above, we cannot now become panicky or too bearish. Our country is not now operating on the Gold Standard which was responsible for many of our national crises, but is now on a Political Standard. Although , Newton's Law of Action and Reaction must continue to op- j erate, yet Congress can for a while lengthen the prosperity ; cycles. This it will attempt to do even if it requires an eco nomic dictator to temporarily regulate money, wages, prices, rents, taxes, and industry in general. I cannot forecast dis armament in 1958. It appears to me now, however, that the present race in guided missiles, atomic underwater navies, surprise satellites, and other tremendously destructive mili tary equipment could ultimately rob us of our freedom and turn us back to slavery unless disarmament becomes a serious goal. The Sputniks should hasten either another military world war or the elimination of world wars. Sput niks should shorten the cold war now in progress. 50. Speaking realistically, the hope of the United States and the world depends upon our spiritual relationships. Only as we grow spiritually, along with our material growth and military power, can the world be kept in balance. Therefore, my final appeal is for the support of all churches of all de nominations and their ministers, priests, and rabbis who are carrying the torch of righteousness. TOWELS, Jnrp DOMESTICS 4 s y - - y Boy Scouts Troop 35 Jacksonville Reorganiza tion of Boy Scout Troop 35 in Jacksonville was discussed at a recent committee meeting. Members of the .committee are Chester Pursell, Floyd Wyatt, Don Godley, Lynn Bernstron. Harry White and Bill McNew. Don Wendt was elected chairman of the group. Dick Lamb, scout ex ecutive, and Harry Barne burg, neighborhood commis sioner, of the Big Pines dis trict also attened the meeting The first meeting of the Troop will be held Tuesday, Jan. 7, at 7 p.m. in the IOOF hall in Jacksonville, accord ing to Fred Buehling. scout master. All boys over 11 years old are welcome to attend, he said. Texas Soldier Freed On Larceny Charges Tacoma lift Pfc Gerald Rogers, 21. San Antonio, Tex., was acquitted of larceny in a court martial trial at Fort Lewis Tuesday. The alleged larceny had held up the soldier's discharge from service last August. Two weeks ago, Rogers hauled his commanding officer into Fed eral Court here in an effort to get out of the Army but his petition was denied. HETEX Makes Your Clothes More Wrinkle Resistant We Rerex All of Our Dry Cleaning at No Extra Charge Bedford Cleaners Kale & Kathryn Wheeler . 34 No. Holly, SP 2-6500 Free Pickup and Delivery Ancient Mesopotamians not j only wrote on clay, but made 1 clay envelopes to protect val- j uable documents. 1 M-Lites 1 ..IN TOE ffistoru m-i or - rnannacy by ED HALL The word Druggist in early America usually applied to people importing drugs and selling them at wholesale. So far as is known the first North American law concrete ly mentioning the apothecary and having a direct bearing on Pharmacy is the Virginia "Act for regulation of the fees and accounts of the practicers in physics" was issued in 1736. (more next week) JOIN THE MARCH OF DIMES The Salk Vaccine has done a tremendous job in checking the dread enemy, polio, but hospi tals are still overflowing with victims that need help desper ately. 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