Medford mail tribune. (Medford, Or.) 1909-1989, August 28, 1958, Image 21

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Medford mail tribune., August 28, 1958, Image 21

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Newspaper Page Text"331"; MAIL TRIBUNE, Medford, Oregon, Thursday, August 28, 1958 5A 114 ill k - A ' I ' I Ji-'?&:szY&A f tlLir rJHJ4M f ',&&l$m2$ TSPJP-- -s wlfeH iib:$t plS TRIUMPHAL RETURN A heavy mist obscures the tops of Manhattan's tall bulld ogs 33 the atomic submarine Nautilus. passes under the Brooklyn Bridge in New lorfc after its return from its epochal trip under the Polar ice cap, from the Pacific Ocean to the Atlantic. Experts See Problems Ahead For Stock and Bond Markets By ELMER C. WALZER UPI Financial Edilor New York -TCPD- The stock and bond markets have some problems ud ahead with the bond sec tion seeming ly nearest the I : . .i : job- "'v -j Elmer Wafeor wailing wall... The experts think that the stock market can go high er. They are skeptical about bonds because of firming money and the pressure of treasury offerings. If these things occur in that sequence the net result will be a crossing of the lines in the graph of yields of those two markets. Stocks will yield less than bonds for the first time since the 1920s. Currently stocks in the Dow-Jones industrial average yield 4.16 per cent and high grade corporate bonds yield 3.80 per cent. According to the firm of Arthur Wiesenberger this 36 percentage point difference is the smallest since February 1939 when it was 30 points. The yield on a stock or bond is the return to the in vestor on the dividends or interest paid at the price the Issue was purchased. For ex ample, American Telephone, paying $9 annually, yields ex actly 5 per cent at $180 a share. Baby Swappers Must Stand Trial Tulsa, Okla.-flJPD-A Penn sylvania couple who allegedly traded their 5-month-old baby for a 1957 pickup truck must stand trial along with the owner of the truck. Common Pleas Judge Lloyd McGuire ruled Wednesday Mr. and Mrs. Richard Readdy, Shamokin, Pa., and Jesse Les ter Burger, 42, El Dorado Springs, Mo., must face trial as the state has evidence the T?eaddys took Burger's truck and left the baby behind. Burger remained free on $2,500 bond today. Bond for the Readdys has been set at $5,000 ea?h. but McGuire said he would re lease the young mother to any responsible person offer ' ing her employment. A statement signed by the Readdys was introduced in court, saying they swapped the baby for the truck be cause the baby would be-better off while they were hitch hiking to California. The statement also said the couple planned to return for their ! child at a later date. The swap allegedly was made in the early morning hours of Aug. 9 just outside of Tulsa. Two Courses Standard and Poor's says the stock market has two courses of action open to bring, the list into a more re alistic relationship with un derlying conditions: 1. A fairly sharp reaction, and 2. for the market to hesi tate and consolidate its posi tion .while waiting for bus iness to catch up. "We are inclined to be lieve," says Standard, "that the latter course will prevail in view of the pressure of funds seeking investment and the widespread feeling of con fidence fostered by the econ omy's strong recuperative powers." The Wiesenberger firm holds that the level of yield should be no worry for the investor. . "If stocks are headed high er and bonds lower," says the firm,., "we are likely as in the early 1920s and the early 1870s to- see' long - periods when stock yields will stay below high-grade bond yields a fact that will doubtless elicit much comment but will be more normal and orthodox than not." " Tough Problem According to the govern ment bond firm of Aubrey G. Lanston and Co., the treasury is up against a tough prob lem. On Sept. 1 it must pay out $1.9 billion to meet ma turities of the 2 Vis and -2s that were not exchanged dur ing the recent refunding of fering. In addition interest and other expenses will pull down the Treasury balance to the point where the Treasury may decide to raise some new money by selling additional bills. For the remainder of the year, it appears to the Lan stqn firm as though the Trea sury may need to sell between $7 billion and $8 billion of new securities for cash. Now for business. The trend is higher. And earnings are improving. Income To Be Up Standard and Poor's esti mates that for the December quarter corporation income will be running at an annual rate of $3.25 a share or -more against $2.75 for the second quarter and $2.71 for the first quarter. For 1958 as a whole, Stan dard believes it will go down as the poorest year since 1954 in corporate earnings. Now, it finds the trend is up and the agency expects that the 29 per cent decline shown by the first half to be trim. medvto a decrease of 15 per cent to 20 per cent for the full year, with the final quarter approximating the last three months of 1957. Potatoes Lead State Shipments Salem-Potatoes dominated the fresh fruits and vegetables shipped from Oregon points during July, the state depart ment of agriculture reports. The total of July inspections amounted to 1,414 cars-up 366 cars from last year's July figure. Potatoes accounted for 1342 cars, which is 368 cars more than the shipments last July. Most of these were from the Ontario district. Fifty-four cars of fresh sweet cherries were shipped out -sA Hood River, which closed out the cherry season there. Wasco county totalled up a near all-time record this cherry season, according to W. L. Close, federal-state shipping point supervisor. The Willamette valley crop was also substantially larger than last year, he added. The shipping point district at Milton-Freewater reported 62 cars of potatoes were ship ped in July. Twenty-six cars of brine cherries were inspect ed at Salem for out-of-state shipment. - FALL HUMILIATES HER Knoxville, Tenn.-OJPD-Mrs. Jean Browrfield, 34, today sought a divorce on charges that her husband operated a motorboat in such a sloppy manner she fell from her wa ter skiis and was humiliated in front of her friends. i Court Records EIGHT-MILE SHOT This unusual photo of the San Francisco-Oakland Bay Bridge was made from almost eight miles away, in the pressroom atop the Seals Stadium. Note how four of the towers seem bunched together ,and the span itself appears steeply arched, in the distortion caused by foreshortening. . , . CSV! k&7 J, -mmmmm. Id STANDING IN GULLY near Eureka, Nev., Albert H. Lewis (right), tells police where to dig for body of his wife, Dolly, whom he confessed killing in San Francisco home during drinking spree. He placed body in trunk of car and drove into Nevada to bury it MUNICIPAL COURT Jack Leroy Vincent, no operator's license in possession. $10. James Brandel Backes, inade quate equipment, $5. Raymond Weigh McComb, viola tion of basic rule, $10. Aria Belle Lewis, violation of basic rule, $10. Earl Burgess Warne, no tail light, $2.50. Edwin Bruce Stuart, violation of basic rule, $10 . William Ralph Morgan, violation of basic rule, $10. Hugh Allen Messer, failure to leave information at the scene of an accident, $20. John Edwin Harper, violation of Dasic rule, siu. Donald W. Wyatt, driving on wrong side of street, $5. Cecila Ella Dodson, violation of basic rule, $10. Bernai Ortlancr Stead, disobey ine traffic sien,'$5- Ouke Miles Guile, disobeying iramc signal, fa. Edgar Alien Walker, improper turn, Carol Ann Flipse, driving on wrong side of street, $5. Joanne Kezer, violation of basic rule, $10. Floyd Elbert Barnes, disobeying traffic sign, $5. Anges Marie Ayer, violation of basic rule, $10. O. A. Parker, violation of basic rule, $10. - Anthony Sebastian Glogowski, operating vehicle without lights, $2.50. Clyde Marvin Mooney, violation of basic rule, $10. Ronald Alex Mete, violation of basic rule, $10. Donald Arland Langston, no op erator's license in possession, $10. Delbert V. Sharp, violation of basic rule, $10. Jim Seth Cunningham, violation of basic rule, $10. Elizabeth Marie Richey, disobey ing traffic signal, $5. Orvel Howard, improper lane change, $5. Harold Victor Rominger, Lucy's apartments, drunk in public, $10. Charles L. Folck, Portland, drunk in public, $15. Steven Ray, no operator's license, $10; violation of basic rule, $10. Leo Robert Behnke, disobeyed traffic sign, $5. Carroll Conwell, disobeyed traf fic sign, $5. Charles Vernon Burgess, dis obeyed red light, $5. William Howard Gardner, no op erators license, $5. James Wayne Lick, no operators license, $10. Donald Ray Nelson, violation of basic rule, $10. Gordon Leslie Sharp, disobeyed stop sign, $5. , Leroy Jack Gillaspey, disobeyed traffic signal, $5. William Allen Darling, disobeyed stop sign, $5. Glenn Dimmett Martin, viola tion of basic rule, $10. Hellene Vada Parrish, disobeyed red light, $5. Raymond Earnest Childreth, dis obeyed stop si gift $5. Raymond Alexander Tebo, im proper right turn $5. Donald Thurston Wilkinson, vio lation of basic rule. $10. Edward Jerry Donelan, viola tion of basic rule, $10. "Joseph Edward Hasler, violation of basic rule, $10. Edward Donahue Nino, violation of basic rule, $10. Daughty Lee Couch, violation of basic rule, $10. Federico Martinez Andrade, vio lation of basic rule, $10. Loranzel Dow Webster, dis obeyed stop sien, $5. William D. Stewart, violation of basic rule, $10. William Donald McLeod, viola tion of basic rule. $10. Jack Weston Fowler, violation of basic rule. $10. DISTRICT COURT Eldon L. Bean, overload, $39 and $43. Dwain C. Epo, overload. $5. Patricia R. Smith, no operator's license.. $10. Raymond A.. Thompson, no op erator's license. $10. . Dawn L. Chaney, insufficient binder chsins. $15. Ralph F. Champion, failure to stop, and yield to oncoming traf fic. $10. . Garv A, Heath, violation of basic rule, $15. CIRCUIT COURT Mary Alfonso vs. Benjamin Al fonso, divorce complaint. Bishoo Reeves, divorce decree. Pauliil B. Ksmylie vs. uarreu L Ksmvlie. divorce complaint. Martin Owens vs. Luther Owens, divorce complaint. MARRIAGE T.irENSE APPLICATIONS Charles Henry Hoyt and Marlene Ch-lotte. b"h of Mprtford. MnnHav and Theima Louise Hughes, both of Milord. tTonnr T m Wnlfnrri and Barbara Ella Williams, both of Ashland. JACKSONVILLE MUNICIPAL - COITRT H. T. (Mikl Purcell. 132 First st.. Jacksonville, drivine while un-v- influence of intoxicating liquor, $100. Leonard Ralph Black, 833 West Jackson St., Medford, excessive noe (tirs), $10. T'-ov Le Pi-ice. route 3, box 83. 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