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.
TRU-COLD REFRIGERATOR-FREEZER
2 appliances in 1 1 Giant 101
Ib. freezer on top, automatic
defrost refrigerator on bot
tom. Slide-out shelves,
iJhiii.iinTOirn:ii:fi.j
t loossswr
All-fabric automatic washer
11 Pa Jus $? !own
U J Only $8 a month
Launder everything washable in this Signature. Gentle
rotating agitator is safe, yet thorough. 3 deep rinses
equal to 1 00 hand rinses remove graying soap scum.
ALL-FABRIC ELECTRIC DRYER
Sale-priced Signature dryer matches $100
washer. Clothes dry nearly wrinkle-free. lUll
REG. 84.95 FAMILY-SIZE WASHER
Porcelain top with 3-vane adgitator. 8 po- $"IO
sition wringer, with adjushtable pressure. I U
UNTIL JUNE
CLEANERS
Stops Heart Gas
3 Times Faster
Cortifltd laboratory tart prove I Ell-AM
tablttt iMiitraliu S timet as muck
stomach acidity 1st ana ininuto as man
loading digtstivo tabltts. Sot I Ell-AM
today for tht fastest known relict.
5:30 - Mondays Till 9
with your old
refrigerator
$5 Down
more. with trade-l
AND SEWING MACHINES
t:VA