"331";
MAIL TRIBUNE, Medford, Oregon, Thursday, August 28, 1958 5A
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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.
Medford. driving without Oregon
driver's license, $5.
less Graham, route 1. Appleeate,
drivine while under influence of
intoryi-atinp liauor. $100.
Clifford Eckeo. Medford. oasses-
hm warn
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