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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (June 30, 1958)
o 6 0 G O o o (w O.OQd:: r ? a Tribune M5F0D, OtEGON, MONDAY, JUNE 30, 1958 Pacjei 1 - 8 e s Matte Best Gain Jn1tt$iK Months Since 1945 roai 4fcsC& averted 1959 taa feztfrtt btf anafe their teat gexceatafe jaw toe $tt t&t 99r txnee lt9- 79 Sails, Utljed t? US and(5lj Bl3l MtsuRi n hope lot fj 9icfu i cr loadirD ig i tfcond Jli of th jtr tv r&n f more then 2 j6r cent from the clost) of 1857 to frounf the end of the first half ol 1958. Industrial in the first hM have risen by nearly (t cent, their best first half gain ?ince955 when it ea ii-M per cent. Utilities Jumped Utilities jumped 10 gf cant in 1958, their best viae ainca m3 an advance of 11.8 je cent in 1954. G Stock trading in t?l fitfi half of 1958 he jutt aov equaled that of 196 nt if a ahead of last yer. It lull 4 well below 1955., If thf gect set so far this yegr itee? up the year's total coul ftach 600 million shares evhicft. ac cept for 1955 fjrould b tha best year since 1933. And while the list rie ing steadily, earninf -were in a decline in most iettancea and ' many dividend were hacked. Paradox o Why does the markei rise when busineate declines? o The market, it is explained by the experts, doesn't oper ate on current conditions. It rises or falls by what ia tx- pected in the future Thif is a process called discounting the foture. WOen the maijet Sjeama to do that discounting, market men say it is following pre cedent. "When, it doesn't they assert it has lost its old-tima discounting ability This tima they can say ittis operating on the old-fashioned bgsis. Even so not a few of thg ex perts say the market has over done things, and they question the validity of a rise that has gone far beyond what they regard as reeasonable in the price times earnings formula. Two things stand out be sides the discounting oper ation. They are a vast sum of money seeking investment, and reluctance of those who have huge profits to sell their n stocks because of the 25 per ctat capita faint tas. The flrst-monay represent de efiaa. Tfca aecond represent a reduced auppi. OWL, So Kara ia an operation c4 tha old law of aupply and 4a ftitni. Refluced supply of ftccft, and big demand for in vaatment. Tha analysts are stumped from time to tima to mete se lections for their clients. Yet they mutt make them, for, as one explains, "you can't just say stock are high and let it f o at that. What the prospect ive buyer wants to know is whet atocks gre going higher and what ones are going to to Best." Another prominent analyst ola that a "do-nothing" pol ice can be disastrous. ' The experts lay you just can't wait until you are sure of the market. If yo do, an analyst explaina, "you will have missed much, if not most of the rise in the mar ket." So it goes. The market has done milch better than the ex-, pert have believed it ceuld do. It did far better than last year in the averages even though the averages were then much higher above 500 for the industrials. In the first half of 1957 industrial shares rose less than 1 per cent while rails fell nearly 4V per cent. The market, it seems, has been less worried about the business recession than many market operators take the many bears, for example and the economists.; Chemical Succeeds Against Potato Scab Madison, Wis. (UPI) Uni versity of Wisconsin research ers have reported that an experimental chemical, urea formaldehyde conce n t r a t e, can be used effectively against potato scab. The researchers treated the soil with 150 gallons of the chemical per acre and found that the susceptible Chippewa variety potato was scab free. Potatoes grown on an untreat ed . plot adjoining the test area were badly scabbed, they said. However, the -researchers feel that the chemical is not commercially feasible now be cause the concentrate costs about 80 cents a gallon. Pres ent research is being conduct ed to determine if good re sults can be produced with a lower dosage per acre. ' ' CHECK-OUT Engineers' hoist a 20" satellite aloft for a last check before placing it in the nose of the Vanguard rocket to be launched at Cape Canaveran, Fla. Later the -rockets second stage failed to"ighite and place the;?atellite in orbit -- : - Honolulu (UPI) The atomic powered ' submarine Nautilus surfaced Saturday off Pearl Harbor for the first time in nearly three weeks, after a 6000-mile voyage from the west coast. , travel the IrjIlilihVlTTTTTTilTTq! iibiii-jii i "j a ii ii Jtvib UEAKFAST in MEDFOKD SUPPEI in lOiSi . 7:1 amW5' C9 ' II 148 M. trmM ft. rhees 1 3-1 ass Project Aimed At Homesteaders Madison, Wis. (UPD A University of Wisconsin re search, team has started work on a project aimed at luring homesteaders to frontier set tlements north of the Arctic Circle. Prof. Kirk H. Stone of the university's geography de partment will direct the three year study to determine the future development potenti alities of the extreme north ern areas of Norway, Sweden, Finland and Alaska. Stone and six assistants will study all attempts that have been made to live in frigid climates of the north country and try to come up with a success formula. He hopes to lay the ground work for permanent settle ments in the four areas which he says "are of great strategic importance " and significance to the free world in both war and peace." Stone started a similar project in 1941 but was cut short by World War II. The present effort has the finan cial backing of the U.S. gov ernment, the Fulbright pro gram and the university here. Idaho Army Officer Dies of Heart Attack Fort Devens, Mass! (UPI) -An Idaho Army officer found dead on a beach in southeastern Mass achusetts last week was victim of a heart attack, military author ities said Saturday. Maj. Robert Moberly of Po- catello, Ida., died of coronary thrombosis, the Army dis closed after an autopsy. Restraint in Time of Boom Good Way To Prevent Downturn Beirut, Lebanon (UPI) Army " troops supported by rocket-firing planes broke up strong rebel attacks on every army position in and around Tripoli Saturday, the govern ment announced. 5 5c? a DANG-UP 4th of J01Y PICNIC . . . mvt , r t&ww For y&Jr Hojdy tat", k4eee e cfri9 tarty, choose pluny. tender, Qiefon-flrea 9rf$m . . . so ivM of flavor kJ mririeae aeteW . . , because they are MetwaaV frecW, 4fce way y 0t hn best.. And versa! . . vt fhess G Inow how to a GOOD ri. aj riy r van 5 " cook the;. rA ey jsa Kr syt 4ne 3mt Oneats do. Have a ikl G-"Sr vsrowq Pryerj. O ' 3 FrQihsf Orp0i-0fc5i fryers fdSrT . fik 9c and Gz$ New York (UPI) The best way to prevent serious downturns in business is to practice restraint in times of boom, a group of leading eco nomists tojd United Press In ternational. Twelve top economists told UPI this is the basic lesson learned from the present re cession. The economists called for restraint by government, busi ness and labor during times of rising industrial activity to avaid the excesses which lead to recessions and depressions. Roy L. Rierson, vice presi dent of the Bankers Trust Co., said "we have learned that the best way to reduce a busi ness downturn, is to curb the ebullience and excesses in the preceding boom." He called for avoiding large wage hikes under long-term contracts at the peak of a business boom, more restraint by businessmen in expanding their facilities during a boom, and for using periods of pros perity to reduce debts. Ira T. Gellis, economist for E. L. DuPont de Nemours & Co., said "perhaps we have learned that we can moder ate th. swings of business ac tivity by restraining the boom that precedes the decline." Gellis also expressed the view of a number of the economists when he said "we have learned that raising wages and salaries and 'fringe' benefits by amounts greater than rising productivity will cause rising prices, and rising prces -reduce markets." Don M. Soule, assistant pro- KP Duly Thing of Past at Boiling Washington (UPI) KP duty for the 1,200 enlisted men at the Boiling Air Force base here is a thing of the past. The Prophet Co., a Detroit Mich., catering firm has taken on the responsibility of feed ing all of the men assigned to the base and the Air Force dining hall across the Potomac River at Ft. Myer, Va., as well. Col. Edwin D. Miller Jr., Boiling commandant, said the changeover from military to civilian cooks" and potato peel ers was intended to "increase the overall operational .effi ciency of the base and to pro vide for full utilization of manpower (military, that is) in the many work sections at Boiling." The amount of the contract awarded the Detroit firm was not disclosed. Brussels Police ' Pick Up Russian , Brussels (UPI) Bolshoi star ballerina Olga Lepes jinskaia has been picked up by police on charges of shop-lifting two pairs' of gloves, ah umbrella and other items from a Brussels depart ment store. She was released after nine hours of question ing. Miss Lepesjinskaia, the So viet Ballet company's number two ballerina, was freed when Soviet Ambassador Viktor Avilov intervened in her be half. .- Police refused to say wheth er they would file charges, but informed sources said of ficials had no wish to repeat the scandal in London in 1956 when Soviet discus tnrower Nina Poriomareva was ac cused of shoplifting five hats worth $4.68. Miss Ponoma reva was fined and returned home to Russia. Stubborn Inmate Doesn't Want Freedom Wethersfield, Conn.--(UPI) The State Prison here has been having trouble with a stubborn inmate that doesn't want freedom. A homing pig eon took up residence in the prison and returns whenever freed. SPEECH LABORATORY . East Lansing, Mich. (UPI) A language laboratory, equipped with semi-private booths and dual-channel tape records, is being built at Mich igan State -university to as sist in the teaching of foreign languages. The laboratory also can be used for speech correction and research work. (GLASS Protect, your furniture with glass table tops Phone SP 3-3613 SELBYxo 303 North Bartlett fessor of economics at the University of Illionis, explain ed that "because of unwilling ness to control the boom, we pay the price of depression." He said the economy cannot operate full-blast all the time. Should Raise Taxes Gordon W. McKinley, di rector of economic and invest ment research for Prudential Insurance Co. of America, said the lesson to remember is that in times of boom taxes should be raised to curb the exuber ance of businessmen and con sumers. Taxes should' be low ered in times of declining ac tivity to spur new spending, he said. Neil H. Jacoby, dean of the University of California's Graduate School of Business Administration, said "I hope that, hereafter federal spend ing for national defense will not follow a 'roller coaster' pattern, but -will be based on firm long-range planning." Ill-Fitting Shoes Blamed for Trouble Buffalo, N.Y. (UPI) Po diatrists can expect increas ing business as long as wom en continue to wear shoes that are too narrow,. in the opin ion of Dr. Henry L. Du Vries. He believes too many women insist on' sacrificing comfort for style in buying footwear. Dr. Du Vries, clinical in-- structor in surgery at the Chi cago Medical School, com mented at a podiatrists' scien tific symposium here that about 65 per cent of foot sur gery stems from ill-fitting shoes. "Women's shoes are the worst offenders," he said. "Be cause the shoes are without laces and have high heels, the wearer's toes must hold the shoe on. This produces an un due pressure on the toes." Army Veteran Notes Changes in Service Vort Riley, Kan. (UPI) When Sec. William Panow, now 65, enlisted in the Army in 1915 a private's pay was $15 a month. "But we made it stretch," Panow related. "We usually rolled our own cigarets, and other things were a little dif ferent too. "A corporal formed and drilled the company. A buck sergeant did just about the same with a battalion. And a staff sergeant just about bossed the regiment." ,. Panow doesn't claim to be the oldest man on active duty, but he has seen both World Wars, received many medals and commendations and trav eled around the world. Panow immigrated from Poland at 16 and soon en listed in tl-3 Army where he served variously as a mess sergeant, rifleman or instruc tor. Panow looks forward to re tirement with both Army pay and Social Security checks and plans to spend his time baking cakes and sitting "in a sturdy old-fashioned rock ing chair" on the front porch of his Duarte, Calif., home. British Actor Buys Own Catsup Painting London (UPI) British actor Peter Finch up-ended a bottle of tomato catsup onto the tablecloth, and the diners in London's exclusive 500 Club raised their eyebrows. He added a bottle of Worces tershire sauce. The raised eye brows turned to frowns. Then he demanded a tin of boot polish, which the man agement supplied. He was painting, and he was so impressed with his paint ing that he bought it. The mangement agreed to let him have the tablecloth for $3.50. More than 3,166,000 fish, including 2,560,000 trout were planted in Michigan 'fishing waters during 1957. TOOK NO CHANCES . ' Washington, Vt. (UPI) Because Nate Flint's mother, father, sister and two broth ers died between their 61st and 62nd birthdays, Flint made sure of having his 62nd birthday celebration by hold ing a party for himself twa days before the actual date. He invited the towns of Barre and Montpelier and an esti mated 5,000 persons showed up. A 55-gallon oil drum was needed to store all the birth day cards,. 4 IPS SNIDER'S MILK- THE GROWING FAVORITE John Cue liked to save, (or at least, wanted to) But never quite managed, f (even as me and you!) He told himself time and again "I will do it!" But paychecks were vanished before he quite knew it. ii i IV.-. One day he was told of the plan "Firstomatic" (It makes saving planned, instead of erratic). John went to First National, and signed a small card, Remarking "The interest :ate is my reward." CHECK! ts!6r SAVINGS At once the Bank transferred a modest, small sum "To savings: With mort small deposits to come." I Soon; John became happy . (in fact, he's ecstatic) He's saving each month, and it's all automatic! I I You should try firstomatic Savings. It's tha easy, sura way to save regularly, as everyone knows he should. You let the bank worry about transferring money from your checking account into your sav . ings account at regular times, eliminating your time and trouble. Most important, Firstomatic helps you resolve to save. Ask about the Firstomatic Bank Savings Plan at your nearby First National Branch. ' START FIRSTOMATIC SAVING NOW! Savings made on or before July 10th earn interest from July 1st! 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