i fty VI
LAST TOUCHES Technicians make final preparations
for a 105,000-foot balloon ascension near New Brighton,
Minn. The balloon when released will be 303 feet long,
and will carry a special lead-shield gamma-ray telescope
developed by the Mass. Inst of Technology. Purpose of
the flight is to gather cosmic ray information.
Buying a Refrigerator' dm v Vv T
w i tBe YelloJ other products - y 6ro5 L
Refrieeraton.".,.--, ges- Just tl"n to -the h.rfin.
uoiea undernpatli T.ii.- 7 "',lJ repairs
the brand you wt! V to
CGGLB
Everybody Worrying About
Stock Market Except Experts
By ELMER C. WALZER
UPI Financial Editor
New York -fflPD-Everybody
seems to be worrying about
the stock market except the
experts.
To the ques
tion of wheth
er or not it is
too high at the
present time
they counter
with the state
ment that it
shows no signs
of deteriora-
Elmer Wajzer tion.
It could meet some opposi
tion around present levels,
Timmer Company
Opens in Talent
Articles of incorporation
were filed in Salem 'Monday
for the Air Flow Timmer
company of Talent. Signers
of the articles were Glen L.
Jones, 1132 Winchester ave.,
Medford, and Mr. and Mrs.
Walter L. Miller, Talent.
According to Jones the
company will manufacture
and sell Timmer devices for
measuring and cutting ve
neers. The machines are now
in the experimental stage,
Jones reported, with one
working model on display at
the Oregon Veneer company.
He explained that full pro
duction of the device is ex
pected within the next 60
days.
THEY'RE CLEAN
Birmingham, Ala. - (UPD -Mrs.
Sadie Marie Steelman
told police that in addition to
ransacking her home and
stealing food, burglars wash
ed their clothes in her machine.
they assert, but they appar
ently are not worrying about
a selling stampede.
Edmund W. Tabell, analyst
for Walston & Co., finds no
signs of any great vulnerabil
ity even though some groups
have reached their immediate
upside objective.
In fact, Tabell thinks the
market may be forming a
broad accumulation area very
similar to 1946 and 1949.
He believes that the opin
ion held by many investors
and analysts that the present
advance from the October
lows is merely a rally in a
bear market must be aban
doned. This is another way of
saying this is a bull market.
However, Tabell does not
believe this is the start of a
major advance. .
More Work Needed
"On the averages and in in
dividual groups and stocks,
there appears to be more
work needed to build up a
pattern similar to the 1946
to 1949 accumulation range,"
he says.
"This should result in con
siderably backing and filling
in an area, bounded roughly
by 525 to 460.
"On a short-term basis the
market appears overbought.
It is possible that a buying
climax might occur that could
carry the market back to the
1956 highs, or even slightly
higher, but it is difficult to
read much beyond that.
"On the other hand, a de
cline below 500 would prob
ably indicate a technical cor
rection to at least the 485
480 level. That is the first sup
port point. The second down
side resistance level would be
around 460 in the average.
"The prospects, therefore,
i
f mm
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appear to be that the market,
as measured by the averages,
is probably reaching a tem
porary top but that the over
all picture is one of strength
and that any declines will do
not much more than retrace
one-third to one-half of the
advance from the October
lows. ,
Not Always
"Obviously, while this ap
plies to the averages, it will
not apply to individual groups
and issues.
"Some will show above
average action and others be
low average action. Therefore,
the action of individual stocks
is undoubtedly much more im
portant over the next year or
so than the action of the
averages."
William R. White, analyst
for Hornblower & Weeks,
notes that investors and trad
ers are unmindful of technical
warnings and continue to pour
fresh capital into seasoned
equities.
"Despite momentary em
phasis on secondary industrial
issues, a hallmark of specu
lative trading," he says, "it
seems clear that factors other
than hope of immediate capi
tal gains motivate, an insist
ent demand for common
stocks.
"Buyers appear firmly con
vinced that risks assumed in
paying inflated prices in re
lation to current earnings
may be no greater than those
involved in excessive liquidity
at a time when a federal
budget deficit of $10 billion
or more looms ahead."
White believes that a mod
erate corrective reaction
would be welcomed by erst
while pessimists as an oppor
tunity for reinstatement of
commitments or for covering
short positions."
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MEDFORD'S BARGAIN CORNER
SIXTH AND CENTRAL
Counterfeiter
Offers Invention
Genoa, Italy (UPD The;
"King of Italian Counterfeit
ers," 76-year-old Ittilio Pol
lastri, has offered the Bank of
Italy his invention for mak
ing paper money. He says his
method is just as good as the
government-and cheaper.
"I studied my invention for
a long time in jail," Pollastri
said. "I achieved a relatively
inexpensive system so asked
for permission to offer it to
the Bank of Italy."
Pollastri is .proud of his
creative work - lire bills of
various denominations, dol
lars, pounds, marks and sev
eral types of coins.
As long ago as 1948, Sank
of Italy experts commended
him on his creations, declar
ing they were the most nearly
perfect counterfeits they had
ever seen.
That was just before the
"King of Counterfeiters" re
ceived a 12-yeaf jail sentence
which he is still serving.
He say he intends to go
straight when he completes
his term, and that all he
wants for his invention is
"just enough to live on, a
small pension to live in dig
nity until the zero hour of
my life." .
Light of Stars
Kelp Soldiers See
Washington-dlPD-Light from
the stars is being put to work
by the Army to help soldiers
see at night.
A new device will enable
troops to see military objec
tives after dark by gathering
reflected starlight or diffused
light from skyglow and in
tensifying the image elec
tronically. '
Called the "Cascaded Pho
tosensitive Image Intensifier,'
the device was developed by
the Army Engineer Research
and Development Laborato
ries, Fort Belvoir, Va., and
the Radio Corporation of
America.
THOU SHALT NOT . . .
South Haven, Mich. - (UPD
The Rev. Frank Baker, pas
tor of the Episcopal Epiphany
church, has written an
"eleventh commandments."
'This is the sign he posted
in front of his church:
"Thou shalt not park from
here to corner."
Plagued Day And
Night with Bladder
Discomfort?
Unwise eating or drinking may Be I
source of mild, but annoying bladder irri.
tations making you feel restless, tense,
and uncomfortable. And if restless nights,
with natrzinsc backache, headache or mus
cular aches and pains due to over-exertion,
strain or emotional upset, are adding to
your misery don't wait try Doan's Pills.
Doan's Pills act 3 vaya for speedy re
lief. 1 They have a soothing effect OS
bladder irritations. 2 A fast pain-relieving
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PLENTY OF SERVICE is given "Miss America 1959" by
parents, Mr. and Mrs. David Williams,, Brandon, Miss., as
they breakfast with Mary Ann Mobley at Atlantic City, N. J.
Adams Should Quit,
Republican Party
Strategists Declare
Washington -(UPD - Republi
can strategists declared pri
vately today Presidential As
sistant Sherman Adams
should resign to prevent more
Maine-type landslides for the
Democrats.
One GOP source high in
the party told. United Press
International the defeat of
incumbent Republican Sen.
Frederick G. Payne by Gov.
Edmund G. Muskie in the
Maine senatorial election has
proved the political liabilities
of the Bernard Goldfine case
in which Adams was a figure.
Acknowledged Favors
Payne, like Adams, ac
knowledged receiving favors
from Goldfine, a millionaire
textile tycoon from Boston.
The argument advanced ih
some GOP circles was that
Adams should not subject oth
er Republican candidates to
the similar-if indirect-handicap
by keeping his important
administration post.
Meanwhile, there were
these reactions to, the Demo
crats' near-sweep of the
Maine "early bird" election:
Democratic Party Chair
man Paul M. Butler said the
Formosa "mess" helped the
Democrats. But Secretary of
State John Foster Dulles told
a news conference he did not
think foreign policy played a
part, because ,"our foreign
policy in all its essential as
pects has been and will be bi
partisan." -California's D e m o c ratic
gubernatorial candidate, Ed
mund G. (Pat) Brown predict:
ed "the tide that began Mon
day in Maine will sweep all
the way across the nation."
-Chairman Andrew F.
Schoeppel (R.-Kan.) of the
Senate GOP campaign com
mittee, said he did not see
Maine pointing to a national
trend.
-Agriculture Secretary Ezra
Taft Benson conceded the Re
publicans took a "pretty bad
beating" in the Maine elec
tion but he refused to sfee the
Democratic victory as a
"weathervane."
BALLOON PILOT KILLED
Warsaw (UPD Col. Fran
ciszek Hynek, 49, Poland's
top balloon pilot, was killed
Monday night during a train
ing flight.
MAIL TRIBUNE, Madforo, Ore- Wednesday, September 10, 1958 7
SEEKS WORLD FAIR
Vienna (UPD The Aus
trian Cabinet said today it
would apply to the World Ex
hibitions Organizating Com
mittee for the nomination of
Vienna as site of the 1968
World Fair.
Are You Lucky?
CALL
SP 3-5365
WHICH
WASH-n-WEAR
Will Turn Color
1 i
Select Wash-BWear blouses carefully
if you choose to buy them. One brand
may launder satisfactorily. Another
may turn dirty yellow or fall apart
This may happen to dress or sport
shirts, blouses, work or play clothes,
or other wash-n-wear fabrics and gar
ments, white or colored, normally
bleached for stain removal and reten
tion of original whiteness.
According to American Institute of Laundering-,
inferior wash-n-wear garments may be made with certain
resin finishes that absorb chlorine from hypochlorite
bleach, commonly used. This can't rinse out and heat
from ironing creates an acid which yellows or destroys
the fabric.
If you buy wosh-n-wtor or other wash
able, bo sure thty carry the CERTIFIED
WASHABLE SEAL of American Institute
of Laundering. It ctrtifltt we can launder
them to perfection.
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