53rd Year
Medfoe
Price 10 Cents
Tribune
2nd SECTION
MEDFORD, OREGON, FRIDAY7 APRIL 18, 1958
Pages 1-8
Stock Speculation N
Business for Market
Editor's note: Sidney B. Lurie,
research partner for the stock ex
change firm of Josephthal & Co.,
has written the following dispatch
for Elmer C. Walzer's "Financial
Gossip" column while Walzer is on
vacation.
.By SIDNEY B. LURIE
Partner. Josephthal & Co.
Written for United Press
New York HP) This is a
good time to state a few basic
realities from time-honored
speculative axioms.
Why? We've been through
and are likely to remain in
a frustrating period for
those who think and act only
in terms of the market as a
whole.
Secondly, it's almost always
futile to look for a simple an
swer to a complex problem
Two-and-two do not always
make four. There never have
been nor will there ever
be Univacs in Wall Street
It's fashionable to be pessi
mistic. But speculation is not
a simple business. If it were
easy to get fat financially
there wouldn't be enough re
ducing salons to accommodate
everyone.
Furthermore, there seldom
is any charm in the obvious.
It's always wiser to be wary
of any unanimously-held opin
ion. Four Considerations
In turn, this basic philoso
phy points up four considera
tions: No question about it, first
quarter earnings reports will
be poor. But that could easily
prove to be an anti-climax
marketwise. This because
Wall Street has been holding
a wake before the corpse ar
rived. No one can argue that the
market as measured by the
popular averages is "dear"
rather than "cheap." But
there is no rule that says that
stocks "must" decline merely
because slide-rule comparisons
suggest that they are vulner
able. We could easily remain
in a pattern where the market
is like the clown on a tight
rope who threatens to fall and
hurt himself, but doesn't.
Sure, the recession has
not ended on schedule. -Its-flattening
out, but not turning
around, aggressively. Moreov
er, any improvement would
be within the framework of
the broad trend which
points to no more than a series
of short lived cycles but
not a new boom. Jt probably
would take widespread dis
couragement, however, or an
actual need for cash to topple
over the applecart. In this
connection, people have mon
ey and middle class Ameri
ca is far more relaxed than
Wall Street.
There is little likelihood
of either a new business boom
or a new bull market in 1958.
These are the in - between
years. But this isn't the issue
today and it takes a sur
prise to make a new price
trend.
In a Word
In a word, the $64,000 ques
tion is quite simple: Is the
roof likely to fall in and pre
vent individual success stories
from capturing special atten
tion as they have in the
past?
Will the security buying
public become discouraged by
this neuter gender economy
by Washington's failure to rec
ognize the economic facts of
life?
Viewed objectively, the
jury still out but the die will
be cast within the next two
weeks. The background for a
comparatively explosive
movement has been created
and there is reason to be cau
tiously hopeful.
The threat of an important
decline can go by default, for
ot Simple
Investors
there is an amateur short-interest
which will become restive.
No Dating, Lipstick
For Oxford Students
Oxford, Miss. rtPl The
local Parent-Teacher associa
tion has spoken: no dating, no
lipstick and no formal dances
for students at Oxford Ele
mentary school.
A code of conduct to this ef
fect was adopted by'thePTA
Wednesday. For good meas
ure, there is a section forbid
ding any activities "which
emphasize pairing - off" of
boys and girls.
Censorship Said
in Alarming Degree
Washington IP) Rep. John
E. Moss (D-Calif.), chairman
of the House government in
formation subcommittee, told
newspaper editors Thursday
that censorship of Defense De
partment information "has
reached an alarming degree."
He charged President Ei
senhower, with a "dangerous"
move to impose even tighter
controls over the flow of de
fense information . "to the
public and the Congress."
Moss made the statements
in a speech prepared for de
livery at the opening session
of the annual convention of
the American .Society of
Newspaper Editors.
Quotes From the News
By UNITED PRESS
Chicago Evangelist Billy Graham, when asked if he
would say San Francisco is the sinningest city:
"No. I wouldn't. All the cities have got sin. One minister
wrote me. however, that San Francisco was a city that had
lost its soul' .
Hollywood Band leader Bob Crosby, after the Internal
Revenue, service filed a $40,772 tax lien against his $100,000
Honolulu home:
"I guess you can call by island home a Hawaiian lien-to."
New York Edward J. Haggerty, on being pulled down
from his perch among the girders of Manhattan bridge high
above the East river. and asked why he did it:
"Because it's my job, dammit. I'm an inspector in the
department of public works . and I have to look over the
1 steel work every Thursday,"
Sheriff Aspirant
Gives Plan For
Area Ambulance
Ralph A. Larson, 37, Eagle
Point, a candidate for the Re
publican nomination for sher
iff, today said if he is nomi
nated and elected, he would
work out a cooperative emer
gency aid plan which would
assure emergency ambulance
service throughout the county.
Pointing out there is only
one ambulance service in the
county now, and that it has
been having difficulty meet
ing expenses, largely through
uncollectable bills for service
rendered indigent patients,
Larson said that good govern
ment should insure the avail
ability of ambulance service.
He said he would work to
provide it through existing
services, and in cooperation
with the state police, and co
operating cities, under an
emergency aid plan which
would not place an excessive
burden on either ambulance
companies or the taxpayers.
Larson, in announcing his
plans for such an emergency
service, also stated there is a
need for a sheriff's reserve of
trained, uniformed volunteer
deputies, further training for
the posse, more resident depu
ties in outlying parts of the
state, and modern practices
and theories in all phases of
the operation of the sheriff's
department.
He suggested cooperation
with civil defense, particular
ly in the maintenance of ra
dio communications during
emergency periods.
Larson received his police
training as a deputy sheriff in
Los Angeles county for 10
years.
Benny Turns in Usual
Top TV Performance in
'Shower of Stars' Show
William Ewald
By WILLIAM EWALD
United Press Correspondent
New York (IP) Jack
Benny, after copping two
"Emmy" awards this week,
said something like: "Now,
wouldn't it be
funny if my
next show was
lousy?"
Well, Thurs
day night
Benny turned
up on CBS
TV's "Shower
of Stars" with
a on e-h our
comedy-music
show and if
Benny wants to keep score,
I would say he turned in his
usual A-plus effort in a pro
gram that was about B-minus.
Considering that the show
was saddled with a rather
large handicap the last
minute withdrawal of Nan
Fabray from the cast because
of an auto accident it was
astonishing that the show
came off as medium-well as it
did at all.
Janis Paige Called In
Janis Paige stepped into
Miss Fabray's role with one
day's rehearsal and turned in
a pro's job, but the truth is,
her numbers like all of the
numbers on the show were
uninspired in their concep
tion. Miss Paige son g-dueled
John Raitt in front of a piano
with "There Once Was a Man"
and Miss Paige sang a mildly
amusing "Mr. Wonderful" to
Benny while they were seat
ed just below the piano on a
flight of steps. '
Betty Grable did one of
those Caribbean-s t r a w-hat-fetch-me-a-fan-boy
type songs
that looked like a million old
movies. And in a later number,
Miss Grable and Miss Paige
worked together in another
dullie.
But the show did have Ben
ny. And, of course, Benny is
an obelisk of strength on any
show. Together with Barbara
Nichols, Benny carved out
most of the entertainment on
the show.
Miss Nichols, one of the
most underrated of our
"dumb blonde" comediennes,
provided " fine bounce for
Benny. She has a kind of
cheerful ill-breeding about
her, a comic sexiness, a big
girl with a little girl's mind
sort of uncomprehension, that
snaps against- Benny's dead
pan suavity with brisk vul
garity. "Would you like to dance?"
says Benny as he and his Miss
Nichols are seated in a plush
nightclub.
"Okay," replies Miss
Nichols with enthusiasm,
"Where do you buy the
tickets?"
I hope that Miss Nichols j
comes back for another hitch !
with Benny next season and !
more to the point, I hope that !
next time around Benny hogs j
the show a little more. He de-1
served both his ftnmys and
we viewers deserve more of
him.
Naneife Fabray
In Auto Accident
Hollywood (IP) Comed
ienne Nanette Fabray, who
is expecting a baby in five
months was hospitalized at
Cedars of Lebanon hospital
Wednesday night after an
auto collision.
Although her injuries were
described as "not serious,"
her doctor recommended she
remain in the hospital for
observation. Attendants said
her condition was "satisfact
ory." Police said Miss Fabray's
car was involved in an acci-
Rogue Coin Club
Schedules Meeting
The second meeting of the
Rogue Valley Coin club will
be held at 8 p.m., April 25 at
the Girls club. Officers will be
elected and everyone inter
ested in coin collecting is in
vited to attend, those in
charge reported.
The group held its first'
meeting last Friday with 15
adults and two junior mem
bers present. A constitution
and by-laws were presented. "
dent at a Hollywood intersec
tion with another vehicle
driven by Peter Vonliotes, 29,
Los Angeles.
Mrs. Benback Sells
Songs To Publishers
Two songs written by Mrs.
Clara Benback, route 1, Eagle
Point, have been published by
Nordyke Music Publishing
company, Hollywood, Calif.,
the firm announced today.
The songs, "Sing Me a Love
Song" and "Heartstring Pup
pet," are the first she has had
published.
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