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33rd Ytr TVT
MEPFORDa
. , Price 10 Cents
Tribune
2rJ SECTION
MEDFORD, OREGON, FRIDAY, JULY 11, 1958
Pages 1-8
World's Gold Supply Said To
Be Valued at $39,110,000,000
By ELMER C. WLIEl
UPI Financial Editor
QNew YorP (UPI) If one
translates the world's gold
supply into the nftasurement
that's used for wheat, the to
tal is a mere 52,377 buhls
but that seemingly small
"farm" load is worth S38.110,
000,000 in U.S. ir$ny.
That total doesn't include
the gold of the U.S.S.R. The
Soviet just doesn't release
gold figures. As a esult there
are all sorts of guesses on the
amount the Russians own,
ranging from 5 billion ribllars
to 10 billion dollars.
A good guess might be 7.5
billion dollars for the Rus
sians. That is just about the
amount the nations of the
free world have on armark
in the vaults of the New York
Federal Reserve Bank.
If you add that guess to the
world total, it raises the figure
to $46,600,000,000 which on
this department's crude trans
lation would work out at 62,
421 bushels. Just compare
that with the three million
bushels of wheat that are
being received daily in Chi
cago and see how little gold
there is.
Major Gold Holders
The big gold owners of the
world outside the U.S. and
Russia are the United King
dom with 3,903 bushels; Ger
many with 3,337; Switzerland
with 2,370; Canada with 1,475;
Belgium with 1.377; and the
Netherlands with 1,154.
In South America, Venezu
ela is the big gold holder with
962 bushels and Brazil is sec
ond with 434. Peru has only
27 bushels and Chile 54. Mexi
Q has 231 bushels.
India holds 331 bushels of
gold and South Africa, despite
Its gold mines, has only 240.
France holds 770 bushels;
Italv 612: and Portugal 608.
Norway has 43, Denmark 42
and Finland 47.
Since the end of 1956 only
a few nations have been able
to build ud their gold hold
ings. Germany with a gain of
67 per cent made the best
showing. The United Kingdom
increased its supply by 37 per
cent.
Gains also were made by
Australia, Austria, Belgium,
Colombia, Italy, Netherlands,
Switzerland, and Venezuela.
Declines were reported by
Argentina, Mexico, Peru, El
Salvador, Uruguay, Canada,
Egypt, France, Indonesia, Nor
way, Portugal, South Africa,
and Sweden.
U.S. Total Down
So far this year, the gainers
in gold have taken over $1,
468,000,000 of United States
gold, bringing our gold hold
$igs down to a new low for 11
Goldiine Startles
House Investigators
Washington (UPI) Mil
lionaire Berncfrd Goldfine
told a startled House hearing
Thursday that "it remains to
be seen" whether he is subject
to the same laws that govern
other Americans.
Goldfine made the - state
ment in a shouting match
with Rep. John E. Moss (D
Calif.), a member of the sub
committeejnvestigating Gold
fine's financial operations.
He told Moss "It's my bus
iness and not yours" that he
charged off as business ex
pense on his taxes hotel bills
paid for three New England
Republican senators.
The bills totalled $1,196.55
over a four-year period.
At one point in the angry
Goldfine-Moss exchange, the
California congressman shout
ed: "You're subject to the same
laws as the rest of us."
"It remains to be seen,"
shot back the pudgy textile
tycoon. . . . .
Judge O'Connell
Convention Slated
' Portland (UPI) A con
vention to nominate Justice
Kenneth J. O'Connell of the
Oregon Supreme Court to suc
ceed himself will be held here
July 31 at 7 p.m., it was an
nounced today.
O'Connell recently was ap
pointed to the court to fill the
vacancy created by the resig
nation of Justice James T.
Brand. The appointment was
too late for his name to be
placed on the ballot except by
a convention of 250 registered
voters or gathering of 22,078
signatures. '
O
years. Last year we gained
825 million dollars in gold.
There's been talk that the
United States might devalue
its dollar by raising the gold
price from $35 an ounce to
$70 an ounce.
Such devaluation wouldn't
change the number of bushels
of gold one single peck. It
would double the dollar total
of world gold to $93,200,000,
000. "Who would benefit? The
economists find only two
beneficiaries the gold min
ing companies and the Rus
sians. Of course nations with big
holdings of gold would find
these doubled in dollars. Then
would come adjustments
world - wide in currencies.
And, then, say the experts,
would come more inflation
which would hurt everyone.
The monetary experts won
der if some of the gold with
drawals from the U.S. aren't
being induced by the pros
pects of a big budget deficit
for this fiscal year which
would be another way of say
ing the foreigners were flee
ing from the dollar. The gold
flow will reverse when the
foreigners are convinced the
dollar is sound, say the econo
mists. Some nations rushing to
seek a haven for their funds
in gold wouldn't even risk
holding their own currencies
which do not measure even
close to the strength pf the
dollar, some experts hold.
,
GRANDVIEW-LONE PINE
Fourth Visitors Return
GRANDVIEW-LONE PINE
FOURTH VISITORS
By LILLIAN KNIGHT
Grandview-Lone Pine Mr.
and Mrs. Byron Walter have
returned to their home in El
Cerrito, Calif., after being
house guests at the home of
Mr. and Mrs. John Mansfield
and family, 1615 Crater Lake
ave., over the Fourth of July
week end.
Mr. and Mrs. Virgil Ander
son and family of Corona ave.
Sunday took a picnic lunch to
Ashland Lithia park. Later
they went to Emigrant lake,
where Anderson and son,
Larry, water skied for a time.
Mr. and Mrs. Tommy
Thompson and family left
Thursday for their home in
Petaluma, Calif., after visiting
at the home of Mr. and Mrs.
L. P. Reavis and family on
Grandview ave.
will be available.
A new beverage walk-in
cooler, another dairy case, and
a produce walk-in cooler have
been added.
Several new grocery gon
dolas have been added and the
aisles have been widened so
three carts may pass. .The
shelves are stacked lower so
the aisles can be seen over
easily.
The lockers are now located
on the north wall of the new
addition. The lighting system
is of the newer Insta-start
type, with the ceiling in white
and'the walls done in red and
blue, the light is of the best
day or night.
Lines of merchandise are
larger now due to extra space
and new and larger lines will
be added from time to time.
A full one acre of black
top pacing parking is avail
able for shoppers, making it
easy to shop at the market.
VISITING CANADA Mamie Eisenhower accepts bouquet
from Mrs. John Diefenbaker, wife of Prime Minister Die
fenbaker (center) as she and Ike (left) arrive in Ottawa,
Canada. .V
Sometime between Satur
day night and early Sunday
morning the Grandview mar
ket was burglarized of an un
determined amount of smoked
meats, coffee, and cigarettes.
Entrance was gained , through
the attic vent. Checks and cur
rency composing the day's re
ceipts were deposited at the
bank in the late afternoon as
is the usual custom, so no
money was taken.
The Grandview . market is
still 'undergoing extensive re
modeling and major changes
which' were begun some time
ago. The new addition of ap
proximately 5,000 square feet
of floor space gives a total of
a little over 10,000 square
feet of shopping space. Two
12-foot and one 10-foot self
service frozen meat cases are
to be addedf making a total of
65 feet for ' frozen meats,
meats, and fish. More "frozen
food and vegetable rack space
The Hollywood Scene By HAZEL J0HNS0N
' United Press Writer
Hollywood (UPI) If any
one draws the conclusion
Yvonne De Carlo is undergo
ing an exhausting time-consuming
training program
these days he couldn't be
more accurate.
It's all part of a self-im
posed routine which the small,
dark-haired acting veteran be
lieves wiu prove invaluable
next month when she beings
the filming of "The Greatest
Sinner," an Italian production
in which she stars as Mary
Magdalene.
"My day begins with dress
maker fittings early in the
morning and continues right
on through Italian lessons, my
ballet class, drama coaching,
and a swim in the pool," she
said.
Both Yvonne and her asso
ciates acknowledge that stren
uous work is no new thing to
this actress. Months before Ce
cil B. De Mille began rehears
ing her in her role as Sephora,
Moses' wife in "The Ten Com
mandments" she had been
hard at work on the part with
a deama coach.
Critics and the public are
still acclaiming her sensitive
performance.
Today she's back with the
coach two and a half hours
each day, as she works on her
interpretation of Mary Magda
lene, a woman she describes
as a "high class lady of easy
virtue.''
Her language lessons (two
hours a day) she believes, will
make her feel "at home in
Rome." Already fluent in
French, her training in Italian
is a personal thing. Although
"Sinner" will be made by an
Italian company, it will be
filmed in English and later
dubbed in Italian.
Ballet takes up another
hour. "I've only been at it
about a month and I'm still
having trouble with my
back," she said. Although
Yvonne is well known for
her writhing harem - girl
dances, her dancing has been
at a minimum during the last
two years because of the birth
of her two boys. One son is
seven months old and the
other had his second birthday
this week.
"I do some dancing again in
Horse Opera Star
Robbed of Jewels
Paris (UPI) Bad men
entered the luxury hotel suit
of horse opera star William
(Hopalong Cassidy) Boyd and
stole $12,000 in jewels, th
actor has disclosed today.
He said the varmints must
have entered the suite at the
Hotel Plaza Athenne, early
Monday evening when he and
Mrs. Boyd were out for din
ner. Boyd said that being robbed
in one of Paris' swankiest ho
tels is "like being robbed in
a cathedral."
this role." she said, "but I'm
not as supple as I used to be
yet."
Mr. and Mrs. Milton Cow
ard and family returned to
their home in Gatesville, Tex.,
July 1 after visiting 10 days
with Mr. and Mrs. Earl Rich
ardson and family on Crater
Lake ave. and Mr. and. Mrs.
Otis Medart and family in
Grants Pass. Mrs. Richardson,
Mrs. Coward, and Medart are
brother and sisters.
Mrs. Bertha Medart of Ar
lington. Texas, mother of Mrs.
Richardson, Mrs. Coward, and
Otis Medart, came with tne
Cowards and will spend the
summer as guest of the Rich-
ardsons.
NOMORE GUESSWORK
Columbus, Ohio (UPI)
The city took the guesswork
out of its meter reading
Wednesday. It accepted the
resignation of Wayne L. Help
henstine, who was charged
with guessing at meter read
ings instead of making a per
sonal check.
UNtBEO EVAIBQ.E BARGAINS
STOE WDGDE"
Sale Tables Located on
1st FloorBalcony 2nd Floor
Doors Open 9 a.m. Daily
No Lay-a-Ways
Come Early Get First Choice"
We believe a sale should have genuine bargains. We like to clear out
our Odds 'n Ends to make room for new merchandise. We get space,
you, the customer, get the bargainsl
The Management.
"Bonus for Cash!"
Extra 5 D!jnt
On All Sale Merchandise,
Paid for in Cash or Check.
Only Sale Items and Only This
Week.
Sale Ends Saturday, July 12th
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