Medford mail tribune. (Medford, Or.) 1909-1989, September 11, 1958, Image 8

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Medford mail tribune., September 11, 1958, Image 8

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Newspaper Page Texti 8 MAIL TRIEUNI, MedW, Ore., Thurso'iy, September 11, 1938 U. 5., Britain To Discuss Nuclear Ban With Russia Washington -l?D- The Unit ed States and Britain have agreed to meet with Russia in Geneva Oct. 31 to begin negotiations on a nuclear weapons test ban, the State Department disclosed today. The State Department said the U.S. delivered a note in Moscow Wednesday express ing U.S. "gratification" that Russia has agreed to the ne gotiations. It said Britain de livered a similar note. Russia Prefers Geneva - Actually, the U.S. proposed Aug. 22 that the three-power talks get started but suggest ed that they be held in New York. Russia replied Aug. 30 that it preferred Geneva. The latest note said, "The United States agrees to this location." The meeting would be a followup to recent Geneva talks by western and eastern scientists on methods to po lice a nuclear test ban if the nuclear powers actually agree on one. The scientists said such a ban could be policed with a network of about 180 moni toring stations throughout the world. President Eisenhower then proposed that the U.S., Bri tain and Russia start negoti ating on an actual test ban which would be renewed yearly. Prepared To Halt Tests He said the U.S. was' pre pared to halt its own nuclear tests for one year beginning with the start of the negoti ations if Russia agreed not to resume Tier tests. . The U.S. said its delega tion to the Geneva negoti ations would be headed by Ambassador James J. Wads worth, U.S. representative on disarmament. Soviet Premier N i k i t a Khrushchev said in a Pravda interview Oct. 29 that Russia was prepared to start the ne gotiations Oct. 31. But he al so said Russia felt free to re sume her own nuclear testing ended last "spring because the U.S. and Britain have tested nuclear weapons since then. Today's U.S. note made no mention of this. HOUSING ENGINEER DIES Minneapolis - (UPD - Albert C. Shire, 62, engineer who set the technical standards for much of the low-cost housing built during the Roosevelt and Truman administrations, died Tuesday in a hospital here after a long illness. 'Wrong Door' Case Declared Settled Los Angeles -(UPD- A 40-year-old secretary has settled her $200,000 damage suit against actor Frank Sinatra and former baseball star Joe DiMaggio for $7,500 in the case of the "wrong door' raid. Mrs. Florence Kotz Ross asked Wednesday that the case be dismissed. Details of the out of court settlement were not revealed. The secretary's suit charged that a Dartv of men broke in to her apartment and flashed lights into her eyes Jov. 5, 1954, causing her to become hysterical. Mrs. Ross brought the ac tion in February, 1957 after a maeazine published a story of the incident, claiming that DiMaggio had been looking for his estranged wife, actress Marilyn Monroe. Sinatra - stadfastly denied taking part in any raid. Singer Peggy Lee Files for Divorce Santa Monica, Calif . - (LTD -Singer Peggy Lee filed for divorce Wednesday from her third husband, Dewey Martin, charging the 34-year-old Victor with causing her "grievous mental suffering." The singer sought the cou ple's community property, sup port payments and attorney s fees in the action filed in Su perior court. Miss Lee and Martin were wed in Palm Springs, Calif., April 28, 1956. They parted last July 15. i . West Coast Airline Strike Threatened Portland-(UPD-A spokesman for the Airline Agents associa tion, AFL-CIO, said here Wed nesday that it will "strike the airline without notice within the near future'" unless West Coast Airlines comes to terms in a wage dispute. Richard Manning of the agents' union said a company offer of a $15 to $25 per month pay ' increase would still leave the West Coast agents staff behind other air lines now negotiating for wages beyond the new scale. Manning said an eight-hour service day and uniform al lowances are also at issue. The dispute involves 200 em ployees in 44 cities in Oregon, Washington and Idaho. There are about 28 members of the association in Portland. JUL ' " ' i ' w: WAR GAMES U. S. Marines storm ashore along with cninese Nationalist troops in the first joint U. S.-Nationalist China war games held at "invasion beach" near Fang liano, Formosa. Meanwhile, Communist Chinese shore batteries resumed their heavy shelling of Quemoy Island, after a two-day respite. Dow-Jones Industrial Averages Often Tarqet Along Wall Street Elmer Walzer Irish Free State adopted the name of Eire in 1937. New Low Price! -fy skip Loop; ijl ) better than rops for M! jr all-purpoaa gymnastics. fra 3 fjlWV For Walldog Races, x1 Vim 111 -w. aee who can keep V - iiJhoop going fastest. j I mm HULA-HOOP DEFIUS GRAVITY Fun for the entire family! It floats, spins, twirls, boomerangs! Play games, exercise, reduce! Rugged, lightweight plastic that s gravity-defying, safe as can be. Toss, skid, roll, twirl or spin it Whatever you do, it's FUN! All Bright Colors. Full Size Hoop! $1129 . O U Ea. 6th '4 Central Medford's Bargain Corner By ELMER C. WALZER UPI Financial Editor New York-(UPD-One figure stands out in Wall Street talk these days the Dow-Jones in-' : JrZZ3?? dustnal aver- y& i ft a o - That aver- age along with most of '?f the other mar ket measure- ments has been cussed, discussed and c o d d 1 e d ac- cording to the whims of the critics and adherents of the Dow theory Wall Street tries from time to time to switch into other averages or indexes but some how the tradition swings it back to the Daw, the basis of a theory of markets develop ed way back when stocks were quoted in percentage of par rather than in dollars and cents. , What is the Dow-Jones in dustrial average? It is an "average" of 30 representa tive stocks-blue bloods of the market. It really isn't the kind of an average you've been taught in school. To cal culate it you add up the prices of the 30 stocks and divide not by 30 as you've been taught to do but by 4,257. The reason for a divisor of that size is to provide for stock splits and stock divi dends over the years. The first Dow-Jones aver age used a different method of compensation for splits-a multiplier for the various split issues. New Method That was discontinued on Sept. 10, 1928. On that day the former method had in volved multiplying American Can by six, American Car & Foundry by two; American Tobacco by twp; General Elec tric by four and Sears Roe buck by four. The first average set up in 1897 included 12 stocks -American Tobacco by two; General Electric by four and DO AS SHE PLEASES Hertford, England (UPD -The Hertford Council, in a three-page manual on how to acknowledge a formal salute, stated: "A- lady mayor should raise her right forearm so that the hand is level with the right shoulder, fingers and thumb extended and close to gether, palm facing inwards." Said Mrs. Winnie Brooks, deputy mayor: "I shall just keep nodding my head." Sears Roebuck by four. The first average set up in 1897 included 12 stocks -American Cotton Oil, Ameri can Spirits Mfg.," American Sugar, American Tobacco, Chicago Gas. General Elec tric, Laclede Gas. National Lead, Pacific Mail, Standard Rope & Twine, Tennessee Coal & Iron, and U. S. Lea ther preferred. A long series of . substitu tions continually changed the components. On July 31, 1914, they were Amalgamated Cop per, American Car & Foun dry, American Sugar, Central Leather, General Electric, Na tional Lead, Peoples Gas, U.S. Rubber common and pre ferred and U.S., Steel com mon and preferred. In 1916 the calculation was i changed from percentages of j par ttf dollars and cents. ' Today there are 30 stocks in the average-Allied Chemi cal, American Can, American Smelting, American Tele phone, American Tobacco, Bethlehem Steel, Chrysler, Corn Products, DuPont, East man Kodak, General Electric, General Foods, General Mo tors, Goodyear, International Harvester, International Nick el, International Paper, Johns Manville, National Distillers, National Steel, Procter & Gamble, . Sears R,o e b u c k, Standard Oil of California, Standard'Oil N.J., Texas Co., Union Carbide, United Air craft, U.S. Steel, Westing house Electric, and Wool worth. Other Averages Dow-Jones & Co.,' publish ers of the Wall Street Journal, calculate three other stock averages-20 railroads, 15 util ities, and the 65 stocks used in the three averages. The 20 railroad divisor is 5,601; the utility, 8.53, and the 65 stocks, 20.47. .3 The daily- calculations are hourly and at the close the calculation includes the open ings, highs and lows of each average. The highs and lows are called the intra-day highs and lows. The closing average is the one used in most calcu lations by chartists. The Dow theory uses the averages to measure the mar ket trend. There are three movements involved-the ma jor or primary movement (bull or bear), the secondary movement which involves sharp rallies in bear markets and sharp reactions in bull markets; and the day to day fluctuations. Chartists generally use only the industrial and railroad averages in their calculations. If one average sets a . new high, the other must do like wise to confirm the move ment. It is a bull market if new highs in secondary move ments exceed the previous highs and a bear market if the low points are lower on each movement. Lack of con firmation by each average in dicates a reversal of trend. Trucker Strike Negotiations Appear Snagged San Francisco-(UPD-Negotia-tions aimed at settling a month-old strike-lockout of teamsters in 11 Western states appeared today to be snagged. The San Francisco Bay Area Joint Council of Team sters refused to agree to a recommendation for a three year master contract covering the 11 states. Most of the council's locals have already signed contracts permitting them to strike for higher wages and better work ing conditions on July 1, 1959. Would Be Impossible "We struck for 10 days to win that one-year contract," one Teamster leader said. "It would be impossible to sell those men now on a contract that would tie them up for three years. The recommendation for a three-year contract was reach ed at negotiations last week between employers and top Teamster leaders, including James R. Hoffa, Teamster president, and ' Einar Mohn, president of the Western Con ference of Teamsters. Robert H. Cutler of El Paso, Tex., head of the employer group, indicated there could be no settlement until the em ployers were assured at least three years of labor peace in the Western for-hire trucking industry. "We are prepared to con clude negotiations in line with a settlement reached with top Teamster officials in Washing ton, D.C., on Sept. 6, 1958," Cutler said. The dispute began Aug. 11 Second School Day Somewhat Rough Elgin, 111. (UPD- Tom Fris bie, 5, isn't likely to forget his second day at kindergar ten even though the first was rather ordinary. . Tom was sitting quietly in class when something buzzed up to his ear. Thinking it was a mosquito, Tom slapped at it. The bee stung him. Tom went home at noon and began climbing over a woodpile. He slipped and gouged a piece of flesh out of his hand. Shrugging off his aches, Tom wandered into a neigh bor's yard where he prompt ly was bitten by a dog. After he returned from the doctor's office, where he got a tetanus shot, his buddy, Ricky Corn wall, 5, came over to see him. Tom's dog bit Ricky. Tom stayed home from school Wednesday. He's a little dis gusted about the whole thing. Santa Monica, Calif. - (UPD -Paul E. Sullivan, 58, admin istrative vice , president of Western Air Lines, died Wednesday after a heart attack. when 2350 Central California Teamsters went on strike. The employers ordered an 11-state lockout, claiming the strikers were violating a master agree ment drawn up on May 27. HELP US! We Need Clothing, Shoes. Dishes, Furniture. We Pie,k Up. HELP OTHERS! The Salvation Army SPring 3-733$ fly off to school in our newest saddle... Wings We Give 99 GREEN STAMPS Color is a wing-swept on soft, unlined glove leather! Lightweight news and fun on a ribbed crepe sole to match the Black, Red, or Pale Grey on White. tfb as seen in MISS magazine . jpti II I I JW I riT II u m .amr m m m m aj r-M i 112 EAST MAIN -Robinson Next Door To Bros. iji ' ill TRAGIC BLOW The parents of Marjorie Schneider, slain after being kidnaped from a lovers lane near Fort Collins, Colo., enter the sheriff's office at Fort Coffins. At left is Mrs. Schneider, the slain girl's mother; center, Mrs. Charles D. Garner, a cousin of the dead girJ; and right, E. M. Schneider, Marjorie's father. A 24-year-old cement worker, Floyd Robertson, has confessed killing the young secretary. 29-PIECE CHROME ALLOY, PRECISION SOCKET TOOL SET WHEN YOU PURCHASE THIS RUGGED 17-JEWEL MAN'S WRIST 'WATCH WATER RESISTANT DUST RESISTANT -ANTI-MAGNETIC RADIUM DIAL SWEEP SECOND HAND SHOCK-RESISTANT YOU GET BOTH 29.50 WATCH AND 20. 00 TOOL SET FOR ONLY - i 'iT'M j MTc0 Iff. If v!m f NO MONEY DOWN e D:'TT,?' ' J?;V -2- T-c CA. & I 'l J I i.7L "fet.. . fV M' "Wy GmXi rgsl frftO rESSJirTs'SSS.IIIil i"8! & I s (Sll DELUDE 45 RpPZ (HXffiWiw (dJ&CC lsa- fAHD Aa"T T A Ql n n A ffll A X I . I M Wake in h morning - I I A o soothing music. Ex- AUTOMATIC CHANGER PORTABLE PHONOGRAPH As Advertised In look STURDY BLACK, SILVER. CRAY CABINET FAMOUS CAPITOL SOUND SYSTEMl CONVENIENT CARRYING HANDLE SIZE ll"x 2"xTi" 50c A WEEK : jK A FULLY GUARANTEED COMPACT TABLE RADIO PFAK PFBPrtBU AtJC.F ANh TOWF aaf m as a- -ar wm m ar aat a- v aar ar m w aa. aa' m M bb 77 POWERFUL 5-TUBE CHASSIS HIGH IMPEDANCE LOOP ANTENNA SWEEP-HAND DIAL TUNING INDICATOR HEAVY-DUTY PM DYNAMIC SPEAKER NO MONEY DOWN . . . ONLY 50c A WEEK PACKARD BELL MODERN CLOCK RADIO OS NO MONEY DOWN 1 V 1 af. I V3 NO MONET DOWN w 122 E. Main St. Medford SP 3-5343 STORE HOURS: 9:30 a.m. to 5:30 p.m. Mondays Till 9:00 p.m.