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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (June 18, 1958)
o 3 MAIL TRI0UN& MetffW, Oe9M, Vedneidiy, Jun 18, 1958 Waif With On $ fseet Differs conomists ysiness Future By ELMER C. WALJER UPI FinOncial gditor New Y$rk (UPI) Wall Street is becoming more and more impressed with the bus iness status to the point where it is arguing against the ec onomists of the future. The economists are taking a cautious attitude a slow upturn with the unemploy ment high for a lone timp ' : ;t I 3 If I Wis ' Elmer Walzer alizing a very much speed ier recovery. They believe we have pass ed the bottom of the recessioO and are mov ing upward right now. Not all the economists hold toQthis belief. And today the market men got a cliafher from Standard Poor's wmch it regards as the authority on earnings calcu lations. Standard says the earnings recovery may well be more rapid than many observers now suppose. It believes op erating efficiency should rise rather sharply. "Management is forced to tighten all oper ations all along the line, la bor inefficiency is discourag ed by the present level oi un employment, and many of the new plants built in recent years are now shaken down," Standard says, o Standard has estimated that profits of the 525 industrial stocks in its industrial index may reach $2.95 for the year. Q Highly Significant This is considered highly significant since the first quarter worked out at an an nual rate of only S2.71. The Standard & Poor's pro jection envisages a final quar ter rate approximating that of the last quarter of 1957. That final quarter worked out at $3.23. It was the low of the year and the lowest for a quarter since the third quarter of 1956 when the fig ure fell to $3.17. But it is seen as highly sig nificant since it would repre sent a rise from $2.71 for the first quarter. This works out at 52 cents or 19 per cent. Wall Street continues to re gard earning power as the main criterion for a stock market advance even though the current rise has come at a time when earnings were in a decline. The market, The Street in sists, has been discounting a better future and the market men insist the market was more nearly right than the human prognisticators. New Highs Many lines of business have been showing improve ment. Steel and car loadings have reached new highs for the year. The copper industry has been able to boost prices. Gas oline is in better demand and the inventory position is im proving to the point where the oil allowable may be raised in Texas. There have been sharp gains in construction. Retail trade so far this year has set a record high. Many other lines are pick ing up and the street is plac ing a lot of its hope for the future on the new automobile models which will appear earlier than usual this year, catching on. If those autos do sell as many think they will there will be big business from the steel companies up and down, including the railroads and new acceleration of the recovery. LOVESICK AIRMAN FOUND Airman Donald Keeton and his girl friend, Doris Bowling, embrace at the Dallas, Tex., Police station, after Donald was found at his moth er's home. He had taken off from a Mississippi airport earlier this week on what was believed to be a "suicide flight," because Doris had rejected him. An Air Force jet bomber and a helicopter were dispatched to make him come down, but his plane disappeared into clouds, and he was not seen again until discovered at his mother's home. Board of Education Receives List of Building Priorities ILLINOIS VALLEY Boy Scouts Camp Out Cannon Beach Gets Water Pollution Grant Washington (UPI) The U. S. Public Health Service Tuesday announced a grant of $22,980 to Cannon Beach, Ore., for a water pollution control project. Total cost of the project, which includes new sewage stations, is $76,000. By RUTH RAUSCH Cave Junction Illinois Valley Boy Scout Troop 70 spent the week end camping north of Selma near Hayes hill. They left early Saturday morning and returned late Sunday afternoon, The time was spent in fish ing, camping and working on merit badges. Accompanying the troop were Bob Brecken ridge, scout leader; Dave Chamberlain, assistant leader and Bill Box Sr. Jim Holten, scout leader of Selma troop and son, Donner, also accom panied the group. Boys on the overnight trip were Jim Campbell, Bill Box Jr., Roddy Bottel, Jack Scott, Eddie Gill, Glenn Lyon, John and David Staples. A second overnight is planned for the summer when the troop will go to the beach. Mr. and Mrs. Luther Sher- ier of Illinois Valley Clean ers spent the week end with their son, Luther Jr., and family in Chiloquin. Mrs. Irene Morrison of On tario, Calif., arid a residerit of the valley about 13 years ago is here on a month's vaca tion, visiting friends. She is staying with Irene McCas- land. Illinois Valley Zuleirria Daughters of the Nile will hold their last meeting for the summer Tuesday, June 24, at the home of Mrs. Harry Floyd. Mrs. John Milburn, mother of Mrs. Floyd Wells, who had just returned from 'a six month tour across the coun try, was called back to Los Angeles as word was re ceived her brother, J. R. Neff, was ill. Mrs. Milburn flew to Los Angeles Friday. Her six month tour, which started in January, took her to Los Angeles and Texas by plane where she visited her brother and relatives. She flew to Georgia to be with another brother, L. W. Neff, and from there, she took a trailer trip through Florida with "the family. In New Jersey, Mrs. Mil burn spent some time with Portland (UPI) The State Board of Higher Education has received from Chancellor John Richards a tentative list of .priorities totaling $20 mil lion. v The priority list will come up for discussion at a special meeting June 26 and will be presented to the next Legis lature. In other business the Board decided to authorize contracts for start of work on the Port land State College library. Dr. A. L. Strand, president of Oregon State College, said the school has been asked by Warm Springs Indians offi cials to make a two-year study of the reservation and recom mend a longe-range program to improve personal and fi nancial conditions of the In dians. The project will be paid for with four tribal grants of $25,000 each. Tentative List Here is the tentative build ing priority list: 1. PSC classroom, $2,750, 000. ; 2. OSC heating plant addi tion, $330,000. 3. OCE heating plant, $375, 000. 4. Medical school research building, $1,250,000. 5. First unit, UO science building $1,705,000. 6. OSC physics, chemistry building 2nl unit, $2,515,000. 7. EOC Hoke Hall addition $155,000. 8. Medical schooj service building addition $200,000. 9. OSC central heating plant addition see item 2 $660,000. 10. Dental school, comple tion 8th floor, $75,000. 11. OSC mechanical engine- her son, Col. Frank N. Moyer and with a niece. A plane trip to Indianapolis provided a visit with a granddaughter, Mrs. L. C. Apley, daughter of Mr. and Mrs. Wells. With the Apley family, Mrs. Milburn traveled west by car, through Yellowstone and the Teton mountains, and then to Cave Junction. Mrs. Floyd Wells, with her daughter and family, Mr. and Mrs. L. C. Apley, drove to Vallejo, Calif., where they visited another son - in - law and daughter, Mr. and Mrs. William R. Brown. Mrs. Wells with grand daughter, Terri Lynn Brown, returned home as soon as word of illness was received by Mrs. Milburn. Mrs. Wells met her mother at the Med ford airport as she was board ing the plane for Los Angeles. M nrfclBH i l lllll Pre-Inventory onr Carpet Check our LOW - LOW PRICES on Linoleum Tile Formica eok ai these LOW PRICES! 95 100 WOOL 8 100 NYLON $795 100 COTTON $5 95 SQ. YD. SQ. YD. SQ. YD. INI ,W MC Padding & installation included with all 3 Broadlooms! Sm Our Large Selection of Famous Name AMERICAN MADE CARPETS! o You SAVE at Dyke's Low Overhead, You Know! o FL00BC0H PHONE SP 2-5168 OR 3-3912 1228 No. Riverside (Just North of Henry's Broiler) ESTIMATES GLADLY it ering building, $1,365,000, and home management house in cluding land $175,000. SOC Building 12. SOC social science class room building, $740,000, in cluding land. 13. UO faculty and class room building $495,000. 14. PSC Science building $2,050,000. 15. UO Science building, 2nl unit, $1,595,000. 16. OSC Cordley hall ad dition, $1,950,000 and nursery school, $300,000. 17. UO library addition, $1,- 100,000. 18. OSC utility tunnel sys tern extension $34,000. 4-H CLUB NEWS Teena Paige Sewing Club The Teena Paige Sewing club of Central Point held its regular meeting at the home of Nancy and Elaine McKay. Pat McCue and Cheryle Swan- son furnished the refresh ments. . There were 13 members present. We discussed what we were going to bring to pre-fair this year. We' appointed a group of three girls, Wanda Smith, Carol Meyers and Glenna Brown to make a poster for pre-fair. We made plans for our. pic nic July 15. It is to be our next regular meeting. Carolyn Sidener, Reporter. Mexican Mysiery Town Unearthed Berkeley, Calif. (UPI) An ancient mystery town un earthed from pre-historic lava near Mexico City, has been es tablished as the oldest known urban center in Central Mex ico by five University of Cal ifornia anthropologists. Dr. Robert F. Heizer, pro fessor of anthropology, re ported that he and his col leagues excavated three earth mounds 500 yards from the Cuicuilco Pyramid, which con tained burials, pottery frag ments and articafts about 2,400 years old. The mounds concealed man made structures of large round boulders held together with clay. They apparently served as bases for the ritual temples of an ancient people. With radioactive carbon the scientists were able to date the flow of the lava which covered the area about 250 B. C. Heizer estimated the structures were abandoned some 200 years earlier but where the inhabitants went or why they left is a mystery. Young Wife Admits Robbery of Bank Tampa, Fla. (UPI) A young Air Force wife and mother of two, who said she robbed a bank to pay her bills, was being held under minimum bond today because she expects her third child "any day now." "No matter what the bond is, my husband and I can't pay it," she said. Mrs. Quinn, 22, admitted Tuesday that she robbed the Springs National Bank of $1,000 in a daring noon hold up May 23. "I owed some bills and I couldn't get enough money Volunteers Now Staff Fort Jones Museum Scott Valley, Calif. Wom en's club volunteers are now staffing the Fort Jones mu seum so it can remain open for visitors. The building, which houses articles associated with the last century, was built by the late Jack Dempsey. Its walls are made of various colored polished rocks taken from all parts of Siskiyou county. Ferdinand de Lesseps, who built the Suez Canal, had no engineering experience. MEDICAL PROF DIES Interlaken, N.Y. (UPI) Dr. John A. Macdonald, em eritus professor of clinical medicine at the Indiatia Un iversity school of medicine, died at 81 at his home here Tuesday. Dr. Macdonald prac ticed medicine in Indianapo lis for many years. together to pay them," ih said. The young woman, whose sons are three and five years old, is living with her mother in Altha, Fla. Her husband is stationed at MacDill Air Force base. He wa$ not im plicated in the robbery. KEITH'S Ornamental Iron WW I Let us show you how to Rive your home a completely new appearence. inexpensively, with our beautiful Ornamental Iron! Free Estimates Ph. SP S-J588 2231 Orchard Home Drive . BUY DIRECT and SAVE! 4 -j 1 . !v T 4 QaWE?LY;;DlVID2UD FROM HAMILTON FUriDS,INC. Poyable July 31,1958,to holders of Seriet H-C7 ond Series H-DA Shares of record noon MST, July I, 1958. f per thm from riiRrV ' ifcuiulicm. .jnceme MANAGEMENT CORPORATION, BOB GUSTAFSON 101 Rvii Lhi, Medford you want at savings youVe waited ior OPEN MONDAY EVENING TIL 9 P.M. PLASTIC Drapes 54" overall width x 90" long. Separate center valances. These colorful drapes wil give a lift to any room. $400 Pair S PLASTIC Curtains 18"x45" Plastic Scarfs Satin metallic finish with scalloped edges. Colors: white, pink. maize and green. 19' Eacb 15" Round Doilies to Match & for 15' Popular priscilla style. Size 56" over all width x 90" long. Colors: white, pink, yellow, green and blue. Pair SJOO Lamp Shades Ballerina style lamp shades in white, pink, blue, maize and nile. These will give your old lamps a new look. Regular 98c Value SALE PRICE 77 STEP-ON Garbage Cans RED, CLOVER BLOSSOM DESIGN A Big Value AOc Each yp Lamps Table lamps, pin-up lamps, boudoir lamps, T.V. lamps, novelty lamps. We have a large assortment of big values. BOUDOIR LAMPS As Low $497 As leach 72"x84" Blankets Made of rayon and nylon with a six inch satin binding. Soft and warm yet a comfortable light weight. At this low lay-away sale price . . . you'll want several. Hen's Slack Socks Cushion foot cotton slack socks in sizes 10 to 13. White, grey, yellow, blue, camel. Slightly irregular. If perfect woud sell for 39c pair. SALE PRICE 4 W $988 J Each STORE HOURS: Daily -9:30 to 5:30 p.m. Monday 9:30 to 9:00 p.m. Caramel Whirls A creamy caramel candy that is fresh and delicious. Full He Pnnnrl W M 39 NORTH CENTRAL AVENUE MEDFORD, OREGON WtfV A 0
