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A MAIL TRIBUNE, Madfonf, Oregon, Tuesday, June 3, 1958
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Back SfaiYs: Ike's Radio-TV Speeches
CALLING AT WHITE HOUSE, Cadet Donald J. Palladino (left), Winchester, Mass.,
editor of U. g Military Academy Yearbook, presents copy of "Howitzer" to President
Eisenhower. At right is Midshipman Laurence S. Gifford, San Mateo, Cal., who gave
President copy ofU. S. Naval Academy Yearbook, "The Lucky Bag." ( UPI Telephoto)
allStPeggef Sees
Less Inflation Fear
With, fyJi Capacity
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TJI Financial Ediior
New York (UPI) Wall
Street for many years has
nurtured a pet idea that in
flation stimu
lates common
i stocks on the
upside And
'2 buying the
m equities is a
inflation a r y
consequences.
And the
the street also
Elmer WaJzer has held that
the best market advances
come in times of inflationary
tendencies in the economy.
Also, the financial commu
nity recently has been warn
ing about a new inflationary
force developing, a force that
should bring a market rise of
bgoad proportions.
Now comes a Wall Streeter
with differed views. He is R.
L. Weissman, economist for
W. E. Hutton & Co., one of
the large brokerage houses.
He believes that there is
less to be feared from infla
tion at this time than from
a long drag-out of a condition
Involving a large scale non
use of industrial capacity and
labor. He sees the beginnings
at least of more temperate
demands on the part of labor
unions.
Weissman believes t h t
. fear of or confident in in
flation has been overdone as
a season for buying stocks or
expecting higher stock prices.
Foreign Exper
This conclusion, he adds,
would ve to be revise in
-the event of serious interna
tional developments of the
Oder necessitating defense
outlays substantially bdyond
the projected 8 billion ibr
fiscal 1959.
ThO lonomi gsgnir
e
and
the French and British
perience with inflation
finds that it shows no close
correlation existing between
price inflation and common
stock price movements.
"In the long run," he says,
"inflation cannot be neglect
ed as a factor influencing the
value of almost every kind
of property, including equi
ties. "At the same time, while
one may disagree with the
late Lord Keynes in some of
his theories, few will ffare to
disagree with his observation
that 'in the long run we are
all dead.'
"In tbe short run, the state
of confidence, profit margins,
tax policy and other factors
may modify or offset infla
tionary tendencies."
No Runaw Tendency
Weissman also shoots at a
few other pet beliefs in the
street. He holds that sound
monetary pohcy does not pre
suppose the existence of the
conventional gold standard.
A balanced budget does
not necessarily guarantee a
non - inflationary condition,
nor does 4he absence of the
conventional gold standard
necessarily cause an unbal
anced budget, he says.
He finds some consolation
fri the fact that the increase
in prices whether measured
by the wholesale index or
consumer prices has hardly
been of the runaway kind.
Between 1954 and 1958, he
notes the rise has been on
the average about two per
cent annually.
He infers that, given the
absence of a further sharp
rise in defense requirements,
an increase in wages really
geared to increases in produc
tivity can be absorbed with
out substantial increase in
th price level.
SUCCEEDING Admiral Fe
lix B. Stump, who retires
August 1, Admiral Harry D.
Felt (above) will be commander-in-chief
of U. S.
forces in Pacific and Far
East. (UP! Telephoto)
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DROP IS
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Bad Check Charge .
Brings Jail Sentence
Donald E. Pinkerton, 4'5, of
route 1, box 407, Ashland,
received a year's sentence to
the county jail Monday in dis
trict court , on a charge of
drawing a check with insuf
ficent funds.
George William Wilson, 27,
Trail, was sentenced to 18
months in the state peniten
tiary last week before Circuit
Court Judge Edward C. Kelly
on a charge of obtaining
money under false pretenses.
London reports show that
last season's Antarctic whale
catch provided 349,652 tons of
oil.
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SIZES
nT IT 12-20
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Printed Pattern 9017:
Misses' Sizes 12, 14, 16, 18,
20. Size 16 takes 4V4 yards
35-inch fabric. '
Printed directions on each
pattern part. Easier, accurate.
Send FIFTY CENTS (coins)
for this pattern add 5 cents
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mailing. Send to Marian Mar
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18th St., New York 11, N.Y.
Print plainly "NAME, AD
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NUMBER.
By DAYTON MOORE
United Press International
Washington (UPI) Back
stairs at the White House:
President Eisenhower's par
ticipation in a radio and tele
vision broadcast from the
White House even for two
minutes is a complicated
procedure. '
Considerable behind - the
scenes preparations are required.
Periods Still Open
For YMCA Camp
Registrations for Diamond
lake camping period number
one have been closed- by the
Y.M.C.A. It was announced
by Mr. Jim Rowan, camp com
mittee chairman, that the
week of July 13 through July
13 through July 19 has
reached the maximum num
ber of camper registrations.
Rowan said: "The- other
three periods, July 20 through
July 26, July 27 through Aug.
2, and Aug. 3 through Aug.
9, are still open and registra
tions are being taken now at
the Y.M.C.A." Registrations
are still open also for the
girls' camping period, Aug.
10 through Aug. 16.
Any boy or girl, age 8
through 15 may attend Dia
mond lake camp. It is not
necessary to be a Y.M.C.A.
member to attend. Further in
formation can be obtained at
the Y.M.C.A. camping office
(SPring 2-6295).
Numismatics is the science
that deals with cbins and
medals.
Last week when the -President
dedicated the atomic
power plant at Shippingport,
Pa., by remote control, he was
"on the air" for only two min
utes. Another 18 minutes were
take up by rehearsing his
part.
Robert Montgomery, the
President's special TV ad
visor, came down from New
York for the occasion.
The President used the
special broadcast room put in
under the north portion when
the White House was renovat
ed during the Truman admin
istration. It was one of the
few times when he has used
the room. For the most part
he has used his own office
when making televised
speeches from the White
House.
The President's grandchil
dren have been ' using the
under-the - portico broadcast
studio as a play room.
, During last week's program,
a battery-powered small mod
el of a sports car was parked
in a corner behind the TV
cameras. It was a gift to the
children from one of the
President's friends. Folded up
near it was another gift col
lapsible trampolin. Another
gift from a friend.
Both are used regularly by
the three older grandchildren
when they visit the White
House. The fourth grandchild,
Mary Jean, one, is too small
for them, particularly the
trampolin. .
Montgomery, a television
producer as well as a veteran
movie and television actor has
been supervising the Presi
dent's televised speeches since
early in 1953. He was brought
in after presidential aides de
cided a New York advertising
agency was putting too much
of a Broadway touch to the
President's appearance on
television.
Montgomery has considered
his main job to be the remov
al of technical obstacles be
tween the President and the
public.
To make the President feel
more at ease, the lectern was
raised for stand-up speeches.
Because it made the Presi
dent nervous, the telepromp
ter was done away with after
two trials. The President lost
what little confidence he had
in the the teleprompter when
it broke down on him during
one of the trials. -
For shorter television talks,
like the one last week, the
President reads cards with
large print well out of camera
range. Two sets, one to the
President's right and one to
his left are used, so that he
can shift his head and eyes.
But for long speeches, he
reads from pages of a script
with big and bigger type. The
bigger type is a signal for a
relieving break, such as tak
ing off his glasses for a mo
ment. ,
Unifieation of armed serv
ices department: For theirst
time, West Point cadets and
Annapolis midshipmen this
year presented their year
books to the President at the
same time. He showed no fav
oritism, even though he is a
West Point alumnus, and ac
cepted them as a Joint pre
sentation. Sawdust1
Medford Fuel Go.
Tel. SP 2-21 1 1 Court & McAnJ.
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