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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Aug. 1, 1958)
12 MAIL TRIBUNE, Medford, Oregon, Friday, Auguir t. 1938' Market Men Talking Inflation Since Averages Pass 500 Mark BT ELMER C. WALZER UPI Financial Editor New York UPIi Since the stock market industrial aver age crossed the 500 level f1mmmct there has been Y f a deluge of f' ' tion- The sub Art ject has been HVvhighlighted in ' - J many business i W i ic at ions. ( ' y I Brokers have talked about Elmer wuzer it. It all start ed a few weeks ago when there were rumors, entirely unconfirmed, that the Fed eral Reserve was abandoning its easy money policy to pre vent a return of inflationary tendencies. That caused a sharp drop in bond prices at just about the time a lot of novices had taken a flyer at free riding on an issue of government bonds. Newsweek in its current is sue features inflation under the caption, "Booby Trap More Inflation." Moody's stock survey notes that the Middle East crisis brought up the idea of a pos sible limited war with a de cided inflationary twist. The survey holds that the chief danger to the market at this point is from deflation of that image. Standard & Poor's recently said the rise in cyclical stocks stemmed from the twin forces of business improvement and inflation psychology, both ac centuated by the Middle East crisis. No Bargains Barron's held that stocks are" plainly not on the bar gain counter and, even grant ed inflation will be allowed to run its classical course, earning power must revive quickly and forcefully to sus tain a continuation of the pace of advance of the past months. Financial world finds bull ish psychology has been stemming from the undoubted inflationary factors in the out look. Joseph E. Granville, analyst for E. F. Hutton & Co., says that thus far the market has been telling us that the prob lem of inflation has been re placing that of recession. Any number of additional examples of this inflation dis cussion could be cited. And now there is a bit of evidence that it's spreading what with steel prices in an upturn 'and the prospect of other price advances. However, there are warn ings that inflation while it may be building hasn't be come the force some people think it has. The current business and investment service of Inter national Statistical Bureau takes that view. "There is little likelihood," says that service, "of any marked, gain occurring imme diately or even before the end of the year, assuming no marked worsening of the Mid dle East situation." Prices Hold Fast "Despite the inflationary psychology, generated party by the huge federal deficit, there are no indications of sharply higher prices either wholesale or retail." Business and investment service finds no inflation in residential building or real estate values, and it notes there has been considerable selling of goods below so-called official quotations. Also the Middle East situation has brought only moderate gains in international commodities. The service holds that while there is no marked inflation indicated, deflation has run its course and it adds that inflationary factors are gain ing. These factors include a pos sible S12 billion budget defi cit, increasing supplies of money, edging up of labor costs, more liberal credit terms in the making, and con tinuation of agricultural sup port. The service believes corpo rations should do more buy ing and that they should give consideration to further rises in labor costs in their pricing, and that real estate operations can continue on a normal basis. GOODNIGHT KISS Mrs. Gladys Thompson forgot to kiss her son, Ricky, 3 goodbye as she left for her second shift job in Milwaukee. Ricky remembered this three hours later, and walked four miles to the plant where she worked to get his kiss. Mrs. Thompson says she won't forget again. Quotes From the News By United Press International London Prime Minister Macmillan, proposing in a note to Soviet Premier Khrushchev a special UN Security Council meeting to be attended by the heads of government in New York: If this meeting is agreed, I shall be there on Aug. 12; I hope you will be there, too." London Abdul Monem Rifai, Jordan ambassador to Britain, oh the consequences of any premature withdrawal of American troops from Lebanon: "When the second round in this Middle East struggle comes, there will not be any Arab countries left for the West to land troops in to resist aggression. It will be the other side that gets the troops there first." Moscow Adlai Stevenson, commenting that his Soviet tour uncovered a "depressing lack of knowledge" about and a keen sense of competition with the United States: "... I wonder if it is understood that the basis for peace ful existence is mutual trust." Guatemala City Milton Eisenhower, on the results of his 21-day tour of Central America: "I am now better acquainted with the problems affect ing the 12 million people living in this important part of the hemisphere." San Francisco Teamsters president James Hoffa, advis ine AFL-CIO president George Meany to consider "his own past associations and his own past actions" before making charges against Hoffa: "I think George will understand what I mean." " . ' Washington Roger Robb, Washington counsel for Boston textile tycoon Bernard Goldfine, on whether he also repre sented Goldfine's friend, Presidential Aide Sherman Adams: "Absolutely not: I never met Mr. Adams but once and that was before this started. The White House not calling the shots. Nobody calls the shots for me." ILLINOIS VALLEY Center Made Tax Free By RUTH RAUSCH Cave Junction The Illinois Valley Medical Center will not have to pay the remainder of the 1949-51 income taxes, and the assessment will be administratively' withdrawn, according to a letter received by Larry Cushing from B. K. Herndon of Grants Pass. Herndon received the an nouncements from the reve nue audit division of the Fed eral Income Tax bureau in Portland. tie Evitt, Louise Woodbury, Hazel Slanaker, Marie Breck- enridge, Betty Owen, Lee An derson, Ann Trumbull, ' Al- louie McDonald, Melba Mc Donald, Helen Bottel and Misses B e r n a and Dana Lemm. Participating but unable to attend were Edna Lee and Grace Kubli. Word has been received that Mrs." Roy Shadle died in Los Angeles July 26. Mr. and Mrs. Roy Shadle were pub lishers of the Illinois Valley News from 1945 until 1947. The Illinois Valley High school junior class will stage another car wash on Satur day, Aug. 9, at Ted's Shell station in Cave Junction. This will be another in a series of summer car wash days in the fund raising campaign of the junior class in order to fi nance the coming Junior-Sen ior prom. Mrs. Art Kellert will be in Wilderville Methodist church to report on the sessions of the Oregon Annual confer ence. The Sunday service will be led by several of the lay men. Mr. and Mrs. Vernon Lar son and family have returned from a vacation through Yel lowstone National park, Dick inson, N. D., Seattle and the Wallowa mountains. Ronald Tresham has his friend, Fred Reynolds, of Brookings as his house guest this week. Guests at the Roland Tres ham home last week wese Mr. and Mrs. Harold Wright and two children of Central Point and Mr. and Mrs. John Wilson of Portland. A surprise birthday party for honoring Mrs. Homer Sni der was given at the home of Mrs. Leonard Staples with Mrs. Emma Lemmas cohost- ess. Attending were Mesdames Esther Quinn, Faye Warren, Jean Nolan, Agnes Love, Hat- SAVE! SAVE! SAVE! On All Purchases of $50.00 or More From Brooks . . . You Buy At WHOLESALE. PRDCES! This is our BRAND NEW PRICE POLICY that is in effect right now and will be in effect from now on. There are no gimmicks ... this is NOT a sale! When you buy at Brooks . . . you buy at WHOLESALE! All Famous National Standard Brands That Carry the Manufacturer's Label and Standard Warranty! AMERICAN STANDARD BRIGGS CRANE WESTINGHOUSE NUTONE OTHERS Choose From Samples In Our Showroom Delivery In From 1 to 3 Days! Brooks Electric and Plumbing 1116 N. Riverside Ave. The Young People's group of the Bridge view Communi ty church went on a weekend camping trip at the Surf Side camp in Brookings July 25-27. Going to camp on Friday were Ronald Tresham, Mary Coleman, Cecil Kimmerman, Olga and Audrey Rigel and Bonita Gresham, accompa nied by Mrs. Don Zimmerman and Mrs. Roland Tresham. Joining the campers on Saturday were Gary Bell, Bill Coleman, Suzan Gray, Christine Looper with the Rev. and Mrs. Martin Brown and daughter, Marilyn. Baby Abandoned at Lake view Station Lakeview, Ore. (UPD A service station attendant here received a telephone call from a man who said he had left a wristwatch in the rest room at the station. When the attendant checked, he found not a wristwatch but a week old baby girl. Police said the child ap peared to be in good health and was dressed in clean clo thing. The attendant tokr officers that shortly before the phone call three persons had visited the station, a man, an elderly woman, and a young girl car rying a baby. Farm Federation Delegates Meet Bend (UPD Oregon Farm Bureau Federation delegates from 30 counties met here Thursday to begin the resolu tions conference. The meet will . end today. State president of the fed eration, Gerald Detering, said the purpose of the conference is to consider resolutions passed by the centers and county farm bureaus. The con ference will result in a set of recommendations on issues to be voted on by the members in the final policymaking pro- The Hollywood Scene Hollywood (DPD Who'd ever think a oarnyara cat handicapped by "convergent strabisma" and mis-named Elmer would mean a free trip to Hollywood for a Mendon, Ohio, farmer? . But late next month Larry Hamilton and his cross-eyed calico cat will be flown here so Elmer can take the title role in "My Aunt's Cat, Ralph," a CBS-TV telefilm story to ' be filmed for the "Millionaire" series. Elmer, in truth a she and the mother of a new litter. won out over 568 other fe lines whose owners had sub mitted photographs to the TV show's story editor, Milton Merlin. Merlin launched a nation wide hunt for a cat such as Elmer two months ago when the usual Hollywood animal sources failed to turn up calico which looked "unwant ed" enough to suit the story, Eyes Crossed Elmer, a cool cat whose crossed eyes have never prov ed much of an affliction save for a barnyard mouse he fail ed to catch now and again, came to Merlin's attention thanks to Joe O. Riley, state editor, of. the Lima News in Lima. Ohio. The mistake in Elmer's gender was discovered only eight weeks ago. According to the CBS pub licity boys, Elmer was miss ing from his usual haunts for more than a week until Ham ilton, aged 24, found "him" harboring a lusty, newborn litter of kittens in a corner of the barn. loft. But if there s any name changing to be done at all it'll be that of the story. Pro ducer Don Federson, creator Engineers, AGC Continue Talks Portland (UPD Mediation talks resumed Thursday in the Operating Engineers apd Associated General Contrac tors labor dispute that has halted work in Southwest Washington and Oregon. , Portland Mayor Terry D. Schrunk sat in on the sessions Thursday morning. He had offered the services of his of fice in an attempt to bring about a speedy settlement of the dispute. A union spokesman said in one of the two sessions Thurs day that "compared to wages north and south of us, the wages here are pitiful." A spokesman for the AGC said a recent wage offer would total $25.40 per day for the lowest classification, in addition to "costly fringe benefits." "We don't feel this is a pitiful wage offer," he said. NO WEEK END TRIP Washington (UPD President Eisenhower plans to spend the week end at the White House. Press Secretary James C. Hag gerty said there was no parti cular reason for the President not going to his Gettysburg, Pa., farm as he does most week ends. - LOOK On. Page 10 Section 1 KRUGGEL'S TEXACO By HAZEL JOHNSON United Press Writer of the series, has indicated he may change the title to "My Aunt's Cat, Elmer" in deference to the new-found feline. Cost a Quarter "Elmer's two and a half years old now, a ripe old age for a cat," Hamilton told the publicity men, "and if we changed his name now, he wouldn't know we were call ing him." ' Hamilton, in partnership with his father and a friend, Lloyd Pritchard, 72, bought Elmer's mother three years ago for the .staggering sum of 25 cents. Six months later Elmer was born along with five brothers and sisters,' all straight-eyed and straight-limbed, except for Elmer, the runt of the litter. . Elmer was the only one of the six they didn't give away. Marine Carpenters To Strike Monday San Francisco (UPD Two thousand West Coast Marine Carpenters will walk off their jobs Monday in a strike that could idle 20,000 shipyard workers on the Pacific Coast. Stan Lore, executive secre tary of the Pacific Coast com mittee of Marine Carpenters, said Thursday that the de cision to ,walk out followed the breakdown of contract ne gotiations. He said the major issue at stake was the union's demand for a 10-cent hourly contribution to a pension plan. Shipyards from the San Francisco Bay area to Bel- lingham, Wash., will be af fected by the, work stoppage, Lore said. Federal Conciliator Wayne Kenaston has been meeting with the carpenters and ship yard representatives during negotiating sessions. No fur ther meetings were slated. A one-year contract ran out June 30 and an extension ex pired Tuesday. Previous con tract talks had been held in Seattle, Oakland and Portland. Court Records MUNICIPAL COURT Theodore Hillard Brown, failure to yield right of -way. $10. Willetta Gayle Robertson, failure to yield right of way. $10. Mildred Margaret Dunlap, im proper lane usage. $5. - Gary George Stevens, violation of basic rule. $10. John William Morrison, failure to yield right of way. $10. DISTRICT COURT , ' Jack M. Day. violation of basic rule. $15. Charles Richard Greene, failure to stop, $10. bam Morse, overload. S59. Carl Eugene Anderson, overload. $35. Duane From, failure to dim, S7.50. ... W. CIRCUIT COURT Mattie Z. Hicks vs. James Hicks, divorce complaint. , Kathryn L. Tramrnell vs. Vireil B. Tramrnell, annulment complaint. MARRIAGE LICENSE - APPLICATIONS Norman Georee Bursine and Marjorie Alice Shaw, both of Med-ford. Raymond Lee Smith. Eueene and Donna Ann Mullin, Medford. HERTZ TRUCK RENTAL Available at HCPI SERVICE McAndrews at Court SP 3-06l HALF BURIED Stranded cars on the Barton Flat Mountain Road near Forest Home, Calif., are half buried in silt after flash floods washed tons of dirt and rocks down on the roads yesterday. No-one was killed. Cafe, Station Gutted by Flames Salem (UPD Fire of un determined origin gutted the Mowry Cafe and Service sta tion at Chemawa Junction three miles north of here late, Thursday. . State police said the fire was under control once and restarted after firemen had left the scene. The second outbreak gutted the restaurant and did dam age to the service station. There was no estimate of damage. Fire trucks and . firemen from Brooks, Kaiser and Four Corners were called out to fight the blaze. The fire was under control in less than an hour. SHAKING HANDS at White House following luncheon,' President Eisenhower bids farewell' to Italian Prime Minis ter Amintore Fanfani who has been his guest on state visit. TICKETS NOW ON SALE AT Purucker's .9 Lamports - Barker's . 1958 WESTERN REGIONAL SKI TOURNAMENT ' Gardener Lake, Aug. 8-9-10 Sniis"." " " 50c Sponsored by Adults ... - - 90c Crater Lions Club of Medford 6 and under - - Free Proceeds to Deaf Children's Home Wool Production For Year Estimated Washington (UPD The Ag riculture Department has es timated 1958 shorn wool pro duction at 240,446,000 pounds an increase of 2 per cent over last year and 4 per cent above the 1947-56 average. " The 1958 crop was the larg est since 1947 when 251,425, 000 pounds were produced. The department said 3 per cent more sheep were or will be shorn this year than last. It is estimated the number of sheep shorn and expected to be shorn this year at 29, 418.000 head. The average weight per fleece, 8.17 pounds i 1 per cent less than last year and the lightest since 1949. Shorn wool production in Texas, the leading sheep state, was esimated at 39,554,000 pounds, up slightly from last year. ! ! 7 A r.'V 7 BILL'S THRILL Three-year-old Bill Raley of Kan sas City, Mo., got quite a thrill being rescued by the K.C. Fire Department after he locked himself in the bathroom. Bill's father was not so thrilled, and gave Bill a spanking when he reached the grpund.. LEA MOTORS 5th at Bartlett - SP 2-6185 SPECIAL! JL We Need More Room! NOW IS THE TIME August is our final delivery Month at our Summer Prices. So don't delay Get yours today. DOUGLAS FIR PEELER HEARTS Unsplit-Split $I400 -Double Load .Double Load PHONE SP 2-8086 TimberP MIDF0R9 Serving th Valley for 40 Years" Vacation Bound? j n ) nil 1 A IBMI ENJOY EVERY VACATION MINUTE ... but before you leave ask for the Mail Tribune CATION PAK SERVICE' We will hold the Mail Tribune while you are en your vacation. Each issue will be held in our office while you are away and will be de livered to you personally by your carrier upon your return. VACATION PAC SERVICE IS FREE! No papers to pile up on your porch. You will be able to catch-up on all local news and special features when you return.. When you leave on your vacation just complete this handy order . and either give it to your carrier . . . mail it ... or just bring it in to the office. WE WILL DO THE REST .... A free service of THE MEDFORD MAIL TRIBUNE Medford Mail Tribune VACATION Circulation Department PAC Medford, Oregon ORDER Please lave my Mail Tribune while I am n vacation, beginning and deliver all ef them to m when I return en , (If date un certain, please call Mail Tribune when you return). Address............. 'City.. Complete This Vacation-Pac Order Today or Phone the Circulation Dept. SP 2-6141 i cess this fall.
