FOURTEEN MEDrORD (OREGON) MAIL TRIBUNE
ThuTtday, February , 1951
fJeu Ifamguard Launching Attempt Waits Study of Wednesday Failure
Cape Canaveral, Fla. TP
A new Vanguard rocket will
be moved into firing position
as soon as scientists deter
mine what sent its predeces
sor crashing into the sea with
a satellite payload. s
Barely 60 seconds of flight
by the Vanguard launched
Wednesday should provide the
answer, and may be enough
to make chances good of
blasting another U.S. satel
lite into orbit with the next
Navy rocket.
The new Vanguard was
More Money To Be
Available in Capital
Markets During '58
4' '
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By ELMER C. WALZER
United Press Financial Editor
New York IP There will
be more mcyiey available in
the capital markets in 1958
f7'mm"mm than required
1 v 1to mect the
& demana.
' rk -J a i in i
Bros. & Hut-
'l change house,
fcj in its annual
A study of sup
ply and de
mand for long
timer waiter term funds
put the surplus figure at a
half billion dollars.
That amount is a-small one,
but it is a contrast with a
deficiency of capital for 1957
of S2.5 billion.
While there will be some
periods of strain in the money
market during the year, the
firm notes that 1958 as a
whole appears to be one that
is generally favorable for the
borrowers of long-term capi
tal.
"The record shows," the
firm says, "that there is us
ually a lag in the. effect that
changes in the economy have
on the securities' markets, as
. well as to a certain extent on
current Federal Reserve mon
etary policy.
Money Ease To Continue
"It seems probable, for this
reason, that even should the
downward course in business
activity be halted or reversed
In mid-year, the ease in the
money markets will continue
at least a few months there
after. "The present prospect is
that in 1958 interest rates will
move lower in the months
ahead, and although they may
stabilize later; it is improb
able that they will advance
significantly."
The surplus calculated by
the firm assumes there will
be no vital change in the in
ternational picture, or any
drastic political change such
as an important tax reduction
or legislation boosting the
volume of privately financed
housing.
The survey was prepared
by Girard L. Spencer, a part
ner in the firm. He estimates
supply of long-term funds at
$21.9 billion and the demand
at $21.4 billion. '
Sources Listed '
The supply will come from
trje following, according to
the survey: Life insurance
companies, $4.6 billion; mu
tual savings banks, $1.8 bil
lion; savings and loan associa
tion, $4.9 billion; private pen
sion funds, $2.8 billion; state
and municipal retirement and
pension funds. $1.6 billion;
fire and casualty companies,
$1.0 billion; and other long
term funds, S5.2 billion.
Demand is listed as follows:
Mortgage financing $10.2 bil
lion; state, municipal and pub
lic revenue authority financ
ing $3.4 billion; and corporate
financing, $7.8 billion.
The survey omits financing
activities of the U.S. Treasury,
but notes they will play a
largen role in the capital mar
kets in 1958. The Treasury
is expected to revamp as well
as to extend the maturity of
u sizable portion of its market
able debt, aided in part in
this activity by a rise in the
debt limit which will remain
in effect until June 30, 1959.
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Portland Council
Plans Study of
Bus Fare Boost
Portland W The Port
land City Council planned to
study the matter of a pro
posed boost in Portland street
bus fares from 20 cents to 25
cents a ride at its regular
meeting Joday.
City Commissioner Ormond
R. Bean so far has objected
to the, emergency clause
which would put the fare in
creases into immediate effect.
Such an emergency clause
must have unanimous council
approval. Should the council
approve the fare boost by a
majority vote, without the
emergency clause, the in
crease, would go into effect
March 8.
Rose City Transit company
officials .have said they plan
ned to halt bus service Feb.
28 unless the council let them
raise, their fares' sooner.
Conference Held
A two-hour conference was
held in Mayor Terry D.
Scbrunk's office late Wednes
day between council members
and State Public Utility Com
missioner Howard Morgan.
Schrunk said he had called
the meeting to "work out"
complications resulting from
Morgan's assertion that he
had veto power over city tran
sit, fare increases. Portland
City Attorney Alexander G.
Brown told Morgan he "flatly
disagreed" with an opinion
by the attorney general that
Morgan had veto power over
bus fares in Portland. Mor
gan replied that he would
not "precipitate a more or less
artificial squabble" between
the city and his office by try
ing to attack the fare raise
in courts.
A group of 30 businessmen
went to the city hall late
Wednesday and asked Bean
to reconsider rather than risk
an end to bus service here.
waiting in a hangar, officials
said, in case changes are
needed, ' before it is moved
to the launching pad, to cor
rect the trouble which plagued
the last rocket.
The Navy rocketmen still
seemed confident their 72-foot
projectile could launch a sat
ellite to match the Army's
Jupiter-C, which sent Explor
er into orbit around the earth
on Friday night.
Statement Issued
A Navy statement said:
"Our telemetry records
show that between the 57th
and 60th second after takeoff,
small . irregularities occurred
in the first stage engine con
trol system. After the 60th
second a failure in the con
trol ystem caused the engine
to deflect far to the right and
the resultant abnormally high
forces ' caused the rocket to
break in the middle."
This meant that the first
stage engine, which is gim
baled mounted on swivels so
it can turn the rocket in the
fashion of an outboard motor
deflected the jet thrust
suddenly and put the Van
guard into more of a turn
than it could take. It broke
like a toothpick.
The announcement indicat
ed it was not the guidance
system that failed, but one
of the mechanical or electri
cal components of the gimbal
ing system.. The rocket was
then exploded by the range
safety officer.
Divers sought to recover
"41
AMERICAN MOON Technicians at Cape Canaveral, Fla,
set the Explorer, America's first satellite, atop the Army's
Jupiter-C rocket which lofted the baby moon into an orbit
around the earth. The satellite and the final stage of the
rocket are designed to orbit as a single unit.
Reports Are Made by RC
Volunteer Service Groups
i
JULY TIME. Dipt. 114, lumx City t tm
Plas svftd mm postpaid hotdy.
ovraoi pcmc pop corn bah ow. (
am ttlovna 25c ona o con 6 or
laf? Hog from piothc Dog of Jotty Tut
Pop Corn.
pnm loiafr)
Offe mios Jvrst 30, 1958 Good only in
O. S. A., POJJ5JJ onj or-a Conaco. Votd
whr prorvo.rta, toed or reirncrea.
Snow Slides Strand
Skiers in Utah
Alta, Utah W) About 170
skiers and six miners were
marooned early today when
three snow slides blocked the
Little Cottonwood Canyon
Road to Alta Ski Resort. The
miners later walked out of the
area, leaving their snowbound
cars, but the skiers remained
stranded.
None was harmed or in any
danger. Snowplows from the
Road Commission were start
ing to dig them out this morn
ing. Two of the slides were
about 100 yards wide and 20
feet deep, according to the
Salt Lake county sheriff's of
fice. A smaller slide was lo
cated between the two larger
slides.
The slidesroared down the
canyon sides after nine inches
of new snow fell in the area.
Northwest Poultry,
Dairy Plant Sold
Salem (IP Northwest
Poultry and Dairy Products
Co. has announced sale of its
Salem plant to Edward Heyer
ly, owner of the Willamette
Produce Co. of Albany, and
to Basil Ryals. former gen
eral manager for Northwest.
Sale price was listed as more
than $250,000.
Heyerly will suspend oper
ations at his Albany plant
Friday and the new firm will
begin operations in Salem
within a . week, employing
about 40 persons. Ryals said
the plant will operate year-
A deficit of. S4,000 in the
Jackson county Red Cross
chapter's fund drive was re
ported at a meeting of 13
chairmen of volunteer service
groups this week.
Plans were to be made to
day at the regular board meet
ing to determine what can be
done to make up the deficit.
Mrs. Helen Wilson, execu
tive secretary, said the past
month has been one of the
heaviest as far as transients
are concerned that the chap
ter has had in several years.
Chairman Report
Reports from various volun
teer service chairmen were
given at this week's meeting.
Junior Red Cross members
last month cleaned more than
200 pairs of children's shoes,
according to Mrs. Meyers
Jones, cochairman. Mrs. Jo
seph A. Burba and Mrs. P. G.
Humphreys, chairman and co
chairman of the Bloodmobile,
reported that the Bloodmo
bile would be in Medford Feb.
12, and the goal would be 290
pints.
Red Cross Canteen workers
worked 125 hours, according
to Mrs. Grace Fiero, chair
man. Included in the work
was a workshop on feeding
evacuees in case of disaster.
Number of Miles
Mrs. Fred Rehling, motor
corps chairman, reported 576
miles driven by volunteers in
private cars. One thousand
eighteen miles were driven in
the Red Cross station wagon,
transporting the county's
blind, driving aphazia chil
dren to speech classes in Ash
land, doing errands for Camp
White veterans, and Junior
Red Cross activities.
Mrs. Bertha Bardwell,
chairman. Gray Ladies Camp
White, ' reported volunteers
paid 851 visits to veterans at
the domiciliary, completed 80
errands, wrote 98 letters for
them, supplied 277 items, car
ried on six hobby interests for
veterans and 19 special proj
ects including an aphazia class
and a knitting class, the latter
under the direction of Mrs. Al
leene McKee. Six caps, knit
ted by a veteran from donated
yarn, were presented to the
TAX MOVE DENOUNCED
Geneva, Switzerland (IP
Comedian Charlie Chaplin
said today that a United
States claim for $1,400,000 in
taxes filed against him in
Hollywood is "further proof
of a revengeful and continual
persecution." In a statement
issued at him home, the 68-year-old
British-born actor
and director said "I have paid
every penny of my American
taxes."
around, hiring extra help dur
ing the turkey processing season.
chapter for needy children.
Mrs. Jennie Creager, new co
chairman, was introduced.
Mrs. Frank Fairweather,
Volunteer Field Consultant;
Mrs. Frances P. Flinn, VAHR,
Mrs. Lillian Salade, chapter
delegate to hospital council;
and Mrs. Lester Adams, co
chairman, public relations
were present.
In the absence of Mrs! Al
Littrell, volunteer services
chairman, Mrs. Bardwell presided.
Needs Cited To
Attract Industry
Portland (IP) A group of
Oregon civic and municipal
officials was told here
Wednesday that . transporta
tion facilities and favorable
taxes were among factors
needed to attract new in
dustries. T. K. Pasma of the U. S.
Department o f Commerce
also said adequate utilities
and good living conditions
were points considered by in
dustry when picking a loca
tion. John D. Abrahamson, chief
of the Department of Com
merce State and Community
Assistance Division, said Ore
gon has living conditions
which are an asset in attract
ing new industries.
HITLER'S FURNITURE
Munich, Germany Ml
The furniture Hitler bought
for his mistress, Eva Braun,
has been sold for $300. - A
Munich used furniture dealer
bought the roomful of pieces
Wednesday at an auction held
after the U. S. Army ended
its requisition of the Braun
villa. Proceeds go to the state
of Bavaria.
0091
parts of the shattered rocket inside the rocket's nose cone
from the ocean floor, includ- before launching until it was
ing the 3U-pound satellite, dunked in the sea.
which sent out a steady signal The Navy said two more
from the time it was mounted Vanguard "test vehicles" are
due for launching with the inch moons. that the intercontinental Atlas
small satellites before the at- There seemed little doubt blew up twice before it flew
tempt scheduled for March today that the Navy still is successfully and that other
to send up the first of a half- very much in the satellite missiles have had their trou-
dozen fully instrumented 20- business. It was pointed out bles also.
sunn mm tf .
SPRING-FRESH PRODUCE
Fresh Slicing
TOMATOES
Yorur
Selection
39
lb.
(1 LETTUCE
SOLID CRISP
2 heads 17
OK .BUEftTtf
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if
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Free Lettuce
With every bottle Any Kind
FRENCH DRESSING
T
If
t Fancy Celery
u each
J I
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CELLO PACK, YOUNG TENDER
CARROTS
pkgs. 3
M
2 Whole Crabs
FRESH FROM THE OCEAN
If
1 lb. Skinless Wieners
SWEETHEART BRAND
If
STRAWBERRY
RHUBARB
ibs.3
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Thin Skin
AVOCADOS
Good Size
for
Fryers, 2-3 lb. a v.
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FRESH PAN READY
If
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SWEET
GRAPEFRUIT
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Doz.
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TRY OUR
Pork Sausage
49'
lb.
Nalley's
CHILI
Hot or Mild
15-oz. Tin
3 89
Beef Stew
i5-oZ. aoT
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for I llpSwi
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81
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Reg:. 49c Size
390
Holiday
Margarine
5 - 89
Alber's
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the Only Stamp
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Nalley's Banquet Dills
Mi 56-oz. Ofit 24-oz.
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ii '1 I MIDNIGHT J
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