MEDFORD (OREGON) MAIL TRIBUNE THREE
Babson Predicts
oodlands Price
ike To Continue
Wednesday, January 1. 1958
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(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.
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M-Lites
1 ..IN TOE
ffistoru
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rnannacy
by ED HALL
The word Druggist in early
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So far as is known the first
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for regulation of the fees and
accounts of the practicers in
physics" was issued in 1736.
(more next week)
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SEE PAGE 12 FOR JANUARY CLEARANCE VALUES!