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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (July 31, 1958)
O O Go 0 Q o O 0 1 4 0 ft i 13 J 1 :- . i ,.'- 3miu.i i six children, . buried. He v when sh flood near Spencer, W. Va., swept away their home in rural area, CS3 aPulxiNG CEOM CASKETS bearing bodies of wife and six children, John Willoughby - P .& r I U frill U XJ -..-on nnln r-., gaZcS lnuJ iargc yiave vuiegiuuuu wncic mcj win ltc uui icu. lie was ouic oiu tivui Margin Requirement Increase Being Talked on Wall Street By ELMER C. WA.LZER UPI Financial Ediior Ne York d"PD Wall Street is beginning to talk and write about the prospect 'Zfctf&ZL of an increase ln margin re-nuirements. J Nobody is fright ened over the talk J and possibly 5 n n o wnillrl be frightened into selling if the Fed e r a 1 n , i-nnf4 Elmer Walzer xvesei ve ouaiu did move the margins up. The reason for that is that the markets in the past just haven't gone down when mar. gins were boosted. The current margin rate is 50 per cent which means one can borrow only half of the price of a stock and must put up at leasthlf in cash on a purchaser or short sale. That 50 per cent is the low est margins have been since Nov. 1, 1937 when they were cut to,40 per cent from 55 per fcent, .he first margin fixed by.the FED. They have been 50 per cent on several oc casions. International Statistical Bu reau in aits business and in vestment service says the Federal Reserve will "certain ly move rapMly to prevent excessive peculation. An " eft-ly increase in maiins on stock prices would not be sur prising." A Different Matter ' The brokerage house of Reynolds & Co., noting that theOrecovery in business is not yet sufficiently robust to warrant any chjmge in' the FED's easy money policy, says tie stock market is a differ ent matter. "And the first sign of dis pleasure at its rate of advance will probably manifest itself in a hike in margin require ments. When margins were raised from 40 to 50 per cent on Feb. 5, 1945, the Dow-Jones industrial average stood at 155.35. The market kept on going up and on July 5 with the industrials at 164.25, the FED gave the margin another boost this time to 75 per cent. But the rise continued. On Jan. 21, 1946, with the industrial average at 196.62, the FED boosted margins to 100 per cent which meant no margins at all. And the mar- Barstow, Calif., Has Flood Damage United Press International Thunderstorms e r u p t.e d from coast to coast Tuesday night, triggering a million-dollar flash flood at Barstow, late Tuesday, sending a tor rent of water a foot deep rac ing through the downtown dis trict. Hundreds of windows were smashed by the hail and util ity lines were knocked out for hours. Authorities estimated damage to homes and busi nesses at about $1 million. Flash floods swept other sections of Southern Cali fornia, marooning hundreds of campers near Redlands and trapping scores of motorists in run-off from hills blackened by recent forest fires. ket went merrily on its way up until it hit 212.50 on May 30, 1946. Then it turned down. On Jan. 17, 1951, margins were raised from 50 per cent to 75 per cent. The average which stood at 248.01 on Jan. 17, 1951, rose steadily for several months. Ups and Downs The FED raised margins on Jan. 5, 1955, from 50 per cent to 60 per cent. On that day the Dow-Jones average was at 397.24. On April 25, 1955, when 'the average had risen to 426.86 the FED raised mar gins again, this time to 70 per cent and the prices con tinued upward until the all time high was set at 521.05 on April 6, 1956. And the reverse is true too. Prices do not always rise when margins are reduced, but eventually the rise gets under way. The margins were cut on last Jan. 16 when the industrials were at 445.23. The market continued to de cline until the average touch ed 436.89 on Feb. 25. It has been rising ever since. Not all of the market men feel that a margin rise is even close. They point out that there is plenty of money seeking employment in the banks at the present time and that the Federal Reserve isn't apt to get upset over the market un tli there is a bigger demand for money from other than market sources. There is just this much about the whole thing that squelches rumors: . The Fed eral Reserve never tells in advance what it is going to do. Value of Timber On O&C Lands in State Increases Portland Vaule of timber sales on O and C and recon veyed Coos Bay Wagon road lands under supervision of the bureau of land management in western Oregon was 519,521, 374 in fiscal year 1958, ac cording to Virgil T. Heath, state supervisor. Additional receipts amount ed to S3,280,333 from con trovered O and C land admin istered by the forest service, bring total receipts for the year to 822,801,707. The value of the 760,737,000 board feet sold from BLM lands in 1958 was slightly higher than the 818,951,187 value of the 624,505,000 board feet sold in fiscal year 1957, Heath noted. For the second year, the average value per thousand board feet has de clined, he added. The average was 837.64 in fiscal year 1956, 830.25 in 1957, and S25.78 in year which ended June 30, 1958. Increase in Cut Heath said increases in al lowable cut permitted the bureau to offer more timber in 1958 than in previous years. The offering in 1958 was 612, 270,000 board feet, compared to 759,336,000 in 1957. Both figures include salvage tim ber which is not included in the allowable cut calculation, he noted. The latest O and C and CBWR allowable cut figures is 769,300,000 board feet an nounced last week, Heath pointed out. The 1958 volume establish ed a new record, exceeding the record 664,835,000. board feet sold in 1956 when the record value of 525,024,063 was also established. 1 Huckleberries Ripe on Mt. Hood Portland (UPD The hot weather last week caused many things and the latest re sult is that the crop of huckle berries in the Mt. Hood Na tional forest has ripened early. The forest service said the huckleberries at lower, eleva tions are ripe and ready for harvest. Officials advised that maps showing the spots where huckleberries may be obtain ed could be picked up from ranger districts or from the Mt. Hood National forest of fice in Portland. iii TTrfimam mt m (Makes 4 to 6 tarings) No more dried out hamburgers ! Morning Milk keeps hamburgers moist and tender right through cooking While ground beef mixture made with ordinary milk often become dry, crumbly and tasteless, the same mixtures made with Morning Milk remain tender, moist and juicy right through cooking whether grilled, broiled, pan fried or baked as meat loaf. Why? Morning Milk's special blending and double rich qualities axe the reason qualities not found in any other form of milk. Sr. tr vmi rhitrlnnr On- W' a f rr-v - tip to rememoer anytime you gnu L f I L .... .. C uamouigcrs; sjrouna veej aiuji moist, never crumbles, when you add better-blending Morning Milk. Try this easy recipe and see I li pounds ground beef IK teaspoons salt W teaspoon pepper Vs cup undiluted Mcming Milk W cup finely chopped onion I tablespoon prepared mustard t tablespoon prepared . horseradish, EVAPORATED HIUL o Lightly mix all ingredients is mixing bow!. Divide meat mixture into six equal parts. Shape gently into patties. Place on grill or in folding wire broiler. Cook over glowing coals 4 to 5 minutes on each side, or until done as desired. BARBECUE BURGERS While grilling hamburgers, brush several rimes with spicy Barbecn r$auce made from recipe found in tree folder at your grocer's Morning Milk display. (Details at right). 1 FREE AT YOUR GROCERS! This folder of outdoor eating recipes includes Barbecue Bur gers with Barbecue Sauce, Fried Chicken, Bleu Cheese Dressing, iHomemade Strawberry Ice Cream and others. See how versatile Morning Milk can be in outdoor cooking. Get yours today ... at your .grocer's Morning Milk r J - j 0 Morning Milk ...tlie modern, convenient cooking milk ' MAN. TRIAUK-E, MeJfetd, SrecM, bms, , f If FAN FAN I SPEAKS TO HOUSE Italian Prime Minister Amintore Fanfani is shown addressing the House, of Representatives in Washington. Seated behind him is Speaker of the House Sam Rayburn. , , 55r liff Si SPIRALING LINE is artist's conception of route rocket would travel in first moon shot to be attempted by United States, scheduled for August 17. Rocket would travel around moon, returning to gravitational influence of earth. Pruning, Shearing Will Help Chri$tmc$ Troo Corvallis Pruning and shearing will help grow Christmas trees that bring top prices, Gary H. Sander, ex tension forest products mark eting specialist at Oregon State college, has advised. The new federal grading system started last year makes it more likely that uniform, high-quality Christmas trees will sell for premium prices, Sander said. To qualify for a Premium or U.S. No. 1 rating top grades under the new voluntary grade standards trees need to have compact ness of growth and a uniform, symmetrical shape. Growing this type of tree usually requires some pruning and shearing as trees mature, Sander pointed out. Trees should be pruned and sheared Social Workers Are Needed in VA Work Problems for which veterans- need the specialized help of Veterans Administra tion social workers have not decreased in the years since Korea and World War II, S. T. Brannock, officer in charge of the Medford Veterans ad ministration office, said today. Indications are that sick and disabled veterans have only traded wartime problems for peacetime ones. In fact, Brannock stated that the VA social work case load is increasing. For comparison, the ag ency's social work division in Washington, D.C., completed sevice for more than 250,000 veterans in fiscal 1957, com pared ' with approximately 248,000 during fiscal 1956. Vacancies for social work ers exist at VA hospitals and outpatient clinics across the nation, Brannock stated. Those who hold a graduate degree in social work may apply for VA employment to the central board of U. S. civil service examiners, Vet erans administration central office, Washington 25, D.C. Use Tribune Want Ads for the first time whe they are 2Vi to J feet high, usually the second or thir year after planting. Then, a yearly treatment is netd, up to but not including the yyir of harv est. Pruned in Late lummr Fir and spruce may be pruned and sheared in lste summer, fall, or winter, San der said. Pines should be pruned and sheared from June to mid-July, before new buds form. : Pruning calls for removal of injured or deformed parts, and the top leader is usually cut back to eliminate spindly growth. If there is a double leader, the weaker one should be removed or cut back. Limbs over the' rest of the tree should be sheared to en courage new growth buds and bushier, more compact de velopment. The shearing, how ever, should remove only part of the current year's growth. And be sure and shear the entire tree not just the up per branches Sander said. Shearing only the top branch es mkes the tree sqirfM Vide anj sparse at thj later. More information o frufe inf and shearing Clmetnrls trees can be obtained? ieom county extension ageri or local foresters, Sander added. MONEY At Crater Finance yo nay borrow far ony rth while purpose e fewe FURNITURE -SAL4T and repay in rionffclf stallmentS. few ? choose the tarrm m&wt-1 able to you f e f$d months. Loan may be paifl vanee or in full a tjtlt Crater Finooco CORPORATION 135 Pine Strej& Central Peiet Phone NO 4-1 tTW Frank Wilkinson, Mgr. Convenient Parkin CHUCK'S MARKEf 838 W. McANDREWS ROAD Red Snapper 16 SCs Round Steak .......... It Chuck Roast ...III. 4Cs Pork Steak ....IEi 57c Boneless Sirloin Tips ... lb. 85c Rolled Roast........... lb. 85c Hearts and Tongue ea. 59c m n on any size package of t 1 f ' I 'I It '4 rasois ...the entirely new kind of dog food! New shape, new colors, new crunchy texture, new 6-fIavor variety! Here in these crunchy bite-size morsels is a wealth of nourish, ment and 6-flavor variety, meat, liver, milk, fish, vegetable, chicken. Each flavor morsel is balanced and complete in itself. Try new Friskies Cubes today...to make feeding fun for your dog, easy for you. Just pour Cubes into his feeding bowl, serve dry or moist...as a main dinner, snack or reward. It's the entirely new kind of dog food...guaranteed fresh and good because it's made here in the West by arflatiOO 1 "Ml Take to your dealer today! Don't pass up this one' It's a fine chance for you to save some money.. .and more important, introduce your dog to a new kind of food thafs completely different, wonderfully delicious. TODAY-CIip the coupon below...take it to your dealer and get 15 off on any size package of Friskies Cubes -from the handy 22-ounc box. up to one of the large v eronamv nackasa9-4!6. r K 9. 18 or 50 pqund. rm I m This coupon worth on any size package of Friskies Cubes TO DEALER: This coupon is redeemable for 15 (plus 74 tor handling) through Carnation-Albers salesmen, provided it has been used for the purchase of Friskies Cubes in accordance with offer shown above. Void in any state or municipality where prohibited,, taxed or FRISKIES PET FOOD DIVISION CARNATION COMPANY ss LIMIT: one per family. Expiration date: October 30, 1958
