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
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Formica
eok ai these LOW PRICES!
95
100 WOOL 8
100 NYLON $795
100 COTTON $5
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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
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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
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