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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (April 16, 1958)
2A MAIL TRIBUNE, Medford, tffinf fr$' zt0 fev'l CUBAN PILOTS FLEE REVOLT Three cr their own plane with 12 passengers aboard four former Cuban pilots who left their pi said they flew to Miami to escape from the Cuba. The three who just brought their pi (third from left), pilot; Servando Mondo (fo (second from right), co-pilot The other fo Alvarez (second from left), Fernando Alvar (right). The men with the same last name a Not Good Editor'! note: L. O. Hooper noted stock market analyst, lias written the following dispatch for Elmer C. Walter's "Financial Gossip" while Walzer Is on vacation. By L. O. HOOPER Analyst, W. E. Hutlon & Co Written for United Press New York (IP) Investors have their "sacred cows," se curities which it is not "good taste" to criticize. These are the great "growth stocks" of the late bull mar ket. They usually represent large companies, and excep tionally successful ones. They are held, for the most part, by people who have owned them for a long time, and mostly by those who hold them at big profits. Quality Unquestioned Many insurance companies, pension funds and mutual funds have purchased "blue chips" as more or less perma nent investments. They sell at a premium price, higher in relation to earnings and divi dends than the rank and file of common stocks. There is no question about their quality, even though some are better than others. A realist, however, can't help asking, once in a while, whether the prices at which they sell are realistic. That is especially true at a time like this when some of them are not earning their dividends, and when most of them are reporting earnings lower rath er than higher than a year ago. Indeed, most of the chemi cals and aluminums in recent years have either shown no increase in earnings or sales, or a much decelerated rate of gain. A Minor Chill It is not news to the sophis ticated investor and the so phisticated analyst when the cyclical and marginal compa nies cut or pass dividends as the economy suffers a minor chill; but it is likely to shock many of the present genera tion who never have gone through a major business ad justment when bad earnings and dividend news hits into the major "growth" compa nies. As the second and third quarter reports are published, and as directors take divi dend action on the basis of these reports, there is likely to be some "bad" news from "good" companies. How will the "blue chips" behave? That's one of the questions of the hour. Certainly there should be a wide differential between prices for shares of companies which are "institutions" and prices for shares of compa nies which are more in the line of "ventures," but there is such a thing as a too wide variation. The recent and present variation, in some cas es, would seem to assume a greater insulation from cycli cal influences than actually exists. It seems to me that some of the current prices for "blue chips" represent an afterglow of bull market enthusiasm, and assume that the rate of growth sustained in the 1948 1955 period was less abnor mal than it really w;as. Even Slower Certainly, the rate of growth in earnings (if not in sales) for most companies in the "blue chip" classification was much slower in. 1956 and 1957 than in the previous five years: and it would seem now that the rate of growth, if there is any growth, during the next year or two will be even slower than during 1956 and 1957. Practically all of the major chemical companies are earn ing substantially less this year than last, and most of them Oregon, Wednesday, April IS, 1938 ew members Taste To Criticize privately admit that the cap ital expenditures of recent years were excessive. The same thing is true of the alu minum industry. While alumi num consumption no doubt will continue to experience long term secular gains, the growth henceforth is likely to be more arithmetical and less geometrical. Many of these growth stocks, in the aluminum, chemical and other industries, still are selling at price-earnings ratios which can be justi fied only by present and fu ture geometrical growth. Log ically, a revision in values would seem in order. There may be some disillusionment even in high investment cir cles. I Right now there is convinc Is That So? The mole is one of the hungriest creatures in the world. He must eat virtually his own weight every 24 hours. Otherwise he will weaken, and if he weakens, death comes swiftly probably from another mole who will be only too glad to eat him. That's why he digs so. His ferocious appetite drives him on, sometimes at a rate of 14 to 16-feet an hour. The food he seeks is mainly worms, but he will tackle al most anything that moves birds, lizards, rats, snakes. I have a picture of one killing a three-foot snake by snap ping its vertebrae in its pow erful jaws. Apparently only one crea ture in his world is safe from him the toad. And the rea son for that probably is he finds the oily substance on the toad's back repugnant. Though some moles are said to be vegetarians, the majority, despite their dining off an occasional iris or simi lar flower, are mainly meat eaters. As a result, they perform valuable services for garden ers. Aside from eating up an amazingly amount of insect and other undesirable forms, they build tunnels systems that both aerate the soil and provide an excellent under ground drainage seFvice. Water doesn't bother these tiny animals. They are good swimmers. And since they live on two levels the lower is usually from one to two feet below the surface they can easily move to the Stops Constipation Due to "Aging Colon" New laxative discovery for normal As you grow older, the internal mus cles of your colon wall also age, lose the strength that propels waste from the body. Stagnant bowel contents be come so dry and shrunken that they fail to stimulate the urge to purge. Relief, doctors say, lies in a new laxative principle. Old-style bulks and motsteners may create gas, take 3 or 4 days for relief. Old-style salts and drugs cramp and gripe the entire system. Of all laxatives, only new Colonaid gives you its special 3-way relief that works only on the lower -colon (area of constipation). of a Cuban airliner who stole and flew it to Miami, Fla., are greeted by anes in Miami about two weeks ago. They revolution that was then threatening in anes to Miami are Capt. Carlos Villamar urth from left), steward; and Isaac Romano ur pilots are: Umberto Blanco (left), Frank ez (third from right), and Roman Alvarez re not related. ing evidence that the electri cal manufacturing industry is experiencing a sharp decline in new orders from utility companies; and this quite surely will be reflected in lowerearnings for companies like General Electric and Westinghouse. The trend to ward constantly higher earn ings and sales probably will be interrupted. Nothing said here is intend ed to detract from the long range merit of quality equi ties. They are preferable to cyclical and marginal ones for most investors. It merely questions the assumption that current prices, even though sharolv under the bull mar ket highs, are justified by the intermediate term outlooK and by current earnings. By EUGENE BURNS Ranger-Naturalist upper in case of flood con ditions. Their coats are of a thick, dark, heavy fur. Though in this country little seems to be done commercially with domestic mole fur, it is dif ferent in Europe. There they form a lively article of com merce. An idea of its size is found in the fact that Euro pean moleskins are usually sold in hundred-thousand lots on the wholesale fur market. (Released by McClure Newspaper Sydnicate Free: By special arrange ment with the editors of the Encyclopedia" Americana, my panel of judges will award each week to the reader who sends me the best true - life nature adventure, the best na ture adventure, the best na ture observation, or the best question on nature and wild life, a 30-volume set of this world-famous reference work in a handsome Sealcraft bind ing. Each week new submis sions will be considered. Sorry, I simply can't answer your friendly letters. Please address your letter to: It That So! care of Medford Mail Tribune, Box 575, Sausalito, Calif. Wind Eyed as Link In Crash of B47 St. Petersburg, Fla. OR Salvage crews working in Tampa bay sought today to determine if tornadic winds had anything to do with a B47 jet bomber which explod ed in flight and presumably killed its four-man crew of veteran fliers. The swept - wing medium bomber from MacDill Air Force base at nearby Tampa blew up over the Sunshine Skyway bridge at the bay's mouth Tuesday, showering the long and high bridge causeway complex with de bris. re-creates 3 essentials regularity. (1) Colonaid moisturizes dry, hardened waste for easy passage with out pain or strain. (2) Colonaid'S unequalled rebulking action helps re tone flabby colon muscles. (3) And Colonaid acts gently, on the nerve reflexes that stimulate the vital "mass movement" of your lower colon. Colonaid relieves even chronic constipation overnight; is so gentle it was hospital proved safe even for women in critical stages of pregnancy. And Colonaid won't interfere with absorption of vitamins or other food nutrients. Get Colonaid, today! (California Man Set for Return Paul Medley, 29, Hayward, Calif., was to be returned to California authorities Tuesday following appearance in dis trict court on a fugitive com plaint and on a charge of making a false statement in writing to procure benefit. Medley was ordered held for 30 days in an arraign ment in court Monday on the fugitive complaint and then was sentenced Tuesday to six months in jail on the second degree charge. The six-month sentence was suspended on condition he make restitution of . the $5 check to Bud's Texaco sta tion, Medford, and be return ed to California authorities. BAD PRACTICES CHARGED Singapore (IP) Candi dates at recent by-elections used secret societies to intim idate voters, destroy posters and attack supporters of op ponents, a commission of in quiry reported today. The commission recommended compulsory voting to elimi nate corrupt practices. 117 So. Central BEST m , 51TJ& SS &w i' i i I 1 111 fully automatic ZIG-ZAG portable . . . offers you 1400 fancy stitches! 'Make buttonholes, monogram, embroider, applique, sew on but tons, mend and darn without attachments. Guaranteed 20 yrs. $3 down HANDSOME SEWING DESK in limed oak or mahogany finish. Drawer I088 for accessories. Only $5 down. "frr t i I " " 'I. k' K!fsS --S3 m I--: 169.95 ELECTRIC RANGE 36-in. range with clock trolled oven that starts, off automatically. SALE! ELECTRIC RANGE oven cooks a meal for 7-heat Microtube top SALE! WARDS CONSOLE TV of a table meaW I i r pnew '139 $J DOWN e Sturdy hardwood frame cabinet Stipple finish HOME TRIAL NO ON REFRIGERATORS Lewiston Youth Oratorical Winner Albany, Ore. (IP) Roy Hovey,' 17, Lewiston, Idaho, won first place in the regional oratorical contest here Tues day. Contestants were enter ed from Idaho, Washington, Montana, Oregon and Alaska. Subject of the contestants was the Bill of Rights. Hovey travels to Lodi, Calif., for sectional competi tion Friday. Trinidad Phone Strike Threatened Port of Spain, Trinidad (IP) Urgent negotiations were held at the highest level to day in an attempt to avert a strike of Trinidad's telephone workers. The strike threatened to coincide with the arrival Sun day of Britain's Princess Mar garet. The workers are de manding better pay from the Trinidad Consolidated Tele phone Co., a private firm. The workers have the support of the National Trade Union congress. Vi: J V til II l ( - con - shuts 144 20. r units. " 1 - 21 in. : Ji. MONTHLY PAYMENTS FREEZERS RANGES Poor Advice Said To Cause Hardship Jackson and Josephine county residents having ques tions about social security should contact W. V. Nus baum in the Medford office at once. He said his office recently received several instances of applicants having received in correct advice from friends about payments. He noted several instances where in correct advice from friends had serious effects on an ap plicant's plans for retirement. He said the Medford office, located in the Federal build ing at Sixth st. and Riverside ave. receives all applications for the two counties. In addi tion the office receives appli cations for disability pay ments from qualified workers more than 50 years old. Nusbaum urged all students who plan to work during the summer to obtain a social se curity card at once. Applica tion forms are available at any post office, he explains. Phone SP 2-6241 ::::: (V VWwh. it M'.'!lJl'l.l.sli.,.i (x! w. HOLDS 412 MONTHS OF FOOD FOR FAMILY OF 4 Enjoy the convenience of having food always on hand. Buy in quantity when prices are low. Save also by buying your Tru Cold during Ward Week! , ,;.v,., ,,... . : - y r y NO MONTHLY PAYMENT TILL JUNE - WASHERS - DRYERS Man Accepts Advice From Administration San Francisco (IP) Fred Perkins advised the San Fran cisco Chronicle today he in tended to take the advice offered him by the adminis tration. Perkins wrote: "Every day Republican statesmen announce to me that the way for me to cure the recession personally is to spend my own money. "I am going to do it. "I am going to contribute to the Democratic party." Argentine Cuban Embassy Raided Buenos Aires (IP) Author ities looked today for several persons who broke into the Cuban embassy and made off with some official documents. The invaders, identifying themselves as members of Fidel Castro's Cuban rebel "26th of July Movement," broke into the building Tues day, threatened the ambassa dor with their guns, destroyed furniture and broke windows before fleeing. sites Only $ 10 down r rii 99 - ROOM AIR CONDITIONERS IT AIN'T HAY Montgomery, Ala. (IP The Montgomery Humane So ciety is desperately seeking the owner of a stray horse it has boarded since the animal was found at a busy down town intersection April 2. Dobbin's feed bill is wrecking the society's finances. Distributor "OIL TO BURN" Let Us Fill Your Tank Now Medford Fuel Co. Tel. SP 2-2111 Court & McAndrews 9:30 to No down payment with trade-In Full-width 5872-lb. freezer chest Spacious full-length storage door Big model convenience, small model price. You get 3 roomy shelves plus extra space for bulky packages. Storage door has molded egg racb for 1 Vi dot eggs. Even Vi gal. milk carton fit neatly Into the door. SAVE $150 ON WARDS 12.1 cu. ft. 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