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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Oct. 17, 1958)
BUILDUP Sealed tanks, containing Nike or Hercules guided missiles from the U. S., are unloaded in the rain by coolies at Keel ung, Formosa. The missiles will be reassem bled by American missile unit troops, also recently arrived in Formosa. Meanwhile, President Eisenhower, in a press conf erenc e, has sharply criticized the involvement of American foreign policy in the current political campaign. Expert Thinks November Could Be Difficult for Stock Market m J -sum mm By ELMER C. WALZER UPI Financial Editor New York -(UPD- November could be a difficult one for the stock market, according to one of the experts. S. B. Lurie, analyst for Josephthal fVLr J31 ana company, ceni lmprove- i ment in bonds strongly hint ing that one of the "legs' Elmer Walzer wniCn n a S been supporting the stock market stool is wobbling. "If the Federal Reserve Board plays further trick or treat with credit- policy, No vember could be a difficult month. "The steam probably will escap'-from the stock market boiler within the next 30 days.". Yet there are manyof the unrestrained optimists" citing reasons why they think the market should continue to rise, he notes. These "rea sons" include better-than-ex-pected business and earnings recovery; a pronounced change in the market's supply-demand equation; and the growing popularization of the common stock idea. Against these, he adds, the unrestricted pessimists 5 can make headlines with observa tions that speculative psychol ogy is better than the immedi ate fundamentals, probability that we've entered the second and slower phase of recovery hinting that the intermediate risks may outweight the promises, and there is more inflation in the stock price level than there is in com modity prices - or credit trends. Margin Rise Expected Lurie had been expecting a rise in margins right along. He was surprised that the figure had not been set at 100 per cent instead of the 90 per cent which the federal reserve set as of Thursday morning. Lurie still finds many stocks still are cheap in a bear market. He believes the key to prac tical market policy total lies somewhere between the ex tremes of the optimists and pessimists listed above. "The realistic view, ne savs. "calls for concentration on the collectors' items-those stocks which have above av erage promise, but less than average risk." Some of the other market analysts recently have been railing attention to the super optimists of today's market- traders who have never seen a wild decline such as the one that hit the market in 1929. This group, holds that Put Mel Lattie in the u State Legislature November 4th Put him to" work on the East -West Highway! An adequate highway sys tem that will open new recreational areas, develop new industries, and en able our own wealth to be harvested . . . and eco nomically transported to market. Elect MEL LATTIE Republican State Representative Nov. 4th Paid Adv. Littie for Representative Committee, Dick Gray, Chairman, Cherry lane, Medford. things aje different now-and it couldn't ' happen in this market. These analysts, like Lurie, note that there are many stocks far behind the market and they have been calling attention to them in recent letters to their clients. Some of them have seized upon this situation to comfort them in having under-estimated the market's ability to get as high as it has gone in the averages. Some of the market men feel that from here out the market may develop a bit of volume curtailment. For a few days it had been running at a turnover of as much as 26 per cent of the listed shares. The stock exchange maga zine "Exchange" contains an article in . its current issue which notes that the market has run at a rate of turnover of 13 per cent of listed shares for the first eight months of 1958 against 12. per cent for all of last year. The exchange magazine not ed that a realistic expecta tion of turnover might be 20 per cent. Such a figure would mean a daily average volume of 4,000,000 shares. The av erage in the first eight months was 2,542,697 shares. The re cent spurt in volume is lift ing the projected total " for 1958 to the best level since 1930. U. S. May Give China Missiles Taipei (UPD Authoritative military sources said today the United States will give Nationalist China plane-killing Nike-Hercules missiles and light, fast Walker bull dog tanks. Maj. Gen. Leander L. Doan, the U.S. Army commander on Formosa, and Chinese Gen. Peng Meng-chi are ex pected to announce the de cision to transfer Nikes to the Nationalists at a press conference later. The second U.S. Missile Battalion already is install ing Hercules rockets on launching pads ringing Tai pei. It is assumed that these missiles will be handed over to the Chinese when crews have been trained to handle them probably in about a year. The missiles can be armed with atomic warheads that can knock entire fleets of enemy planes out of the sky. U. S. headquarters has al ready confirmed the UPI re port that Walker tanks are being unloaded at Keelung, in northern Formosa. Other sources said 41 of the arm ored vehicles have been re ceived so far, and more lire on the way. The 24-ton tanks, named for Lt. Gen. Walton H. Walk er, who was killed in Korea, are intended primarily for reconnaissance rather than as assault weapons. HERTZ TRUCK RENTAL1 Available at HOPKINS RICHFIELD SERVICE McAndrews at Court SP 3-908 Tickling in Ear Is Remains of Insect Elizabethton, Tenn. --(UPD -For 50 years, Mrs. D. A. Jones had experienced a tickling in one ear. She finally decided this week to have a physician take a look. The doctor removed the re mains of an insects which ap parently had taken up resi dence in the ear when Mrs. Jones was 15 years old. "Now I can hear much bet ter," she commented Thursday. Army Men on Trial For Mistreatment Ft. Jackson, S.C.-flJPD-A vet eran Army top sergeant goes before a general court martial today on charges he physical ly mistreated marine recruits. MSgt. George R. Soviet of Ogdensburg, N.Y., was the first of three men to face trial on charges they mistreated trainees between Aug. 23 and Sept. 9. Also to be tried by general court martial are Lt. Gerald L. Wheatley, 24, of Bridge ton, N.J., charged with con duct unbecoming an officer and grabbing a trainee by the arm, and SFC Charles L. Mo man, 28, of Empire, Ala. The prosecution claims that Soviet kicked a trainee in the leg, stamped on another's foot, and forced five recruits to hold foot lockers over their heads for 15 to 20 minutes as punishment. A jobholder must earn $6,457 annually now to match the purchasing power of a $3,000-a-year income in 1939. Dworak Bound Over To Grand Jury Charles Leo Dworak, 35, of Hood River, has been bound over to the grand jury and lodged in county jail on $1,500 bond by D'istrict Court Judge James M. Main on a charge of larceny by bailee. Dworak, who had a prelim inary hearing Wednesday, waived the right to an attorney. Seaford, Del., once a ship building center, is now a prin cipal manufacturing town AWARD ROAD CONTRACTS Washington- (UPD ' Contracts for construction of 360 miles of the federal-state highway system were awarded during September at an estimated cost of 211 million dollars, the Commerce Department said today. GREEN STAMPS CENTRAL REXALL DRUG - Main and Central 9'2 CAN Economy Market Central Point ' Use Tribune Want Adt GREAT NATION-WIDE EVENT...WHEN ALL AMERICA SHOPS AND SAVES! Ward Week EXTRA! Coat Sale 18 88 Save From $6 to $1 1 Usually $25, $30 in other leading stores! New Fall relaxed lines or classic styles in textured, polished or fleecy wools. Many Milium lined. Some with fur! 8-18. ; M il ML Sale! Cotton broadcloth pajamas 1 99 USUALLY 2.9t SAVE Vz on these durable washable imports of crisp cot ton. ' You have a choice of man-tailored classic, man darin, button-down ivy collar stylet. Gay prints! 32-40. Crease resistant, first quality, , machine-washable corduroy Save 23c yard! Pinwale for ( comfortable autumn-winter jC j wear. Over 17 glorious I"y-,J colors including red, copen blue, white, black. 27" wide. - f i Machine Washable Corduroy Playtogs ins Reg. 1.59 ea. Creeperalls 12 to 24 months. Boxer Slacks 3 to 6X, Overalls 2-3-4. PUIR PRINTS .1.48 ea. Save now! Men's flannel Pajamas , 2.88 .Regular 3.69. In .either coat or middy styles. Assorted stripes, pat terns. Sanforized cotton flannel with adjustable waist.- All sizes. Buy several pair now! . ' SALE! Rugged work shoes ' oil-resistant Neoprene soles 6 99 Here's long wear, comfort, savings! Insoles are cushioned to relieye fatigue. Rip-proof backs, comfort-curve tops, Elk tanned brown leather. 6-12. w. '17 1 ( Jo - Sale! Hooded sweat shirts for boys 1 66 Usual 2.49 A wanted addition to any boy's out door wardrobe. It's ideal for outdoor sports in cold, win dy weather. Of heavy cotton with fleece lining. Muff pockets, knit cuffs. Price Cut! Regular 2.19 Union Suits 1.68 RIBBED COTTON A best-seller for comfort and warmth! Long -sleeve, ' ankle length Brent Healthgards" a r non-irritating: rib knit cuffs are snug,' stay in place. Non sag shoulder. HURRY IN! Ward Week Ends Tomorrow, Saturday, Oct. 18th v . . Be Sure to Enter Your Wish in Our Wishing Well. Drawing will be at 4:30 P.M. Saturday Afternoon . . . $50 Merchandise Bonus for Winner If Present. SALE! 15 cu. ft. TRU-COLD chest freezer -u. ; . u stsg E-r Mh i fc' 288 $10 DOWN SALE! 312-coil mattress by Simmons - 59.50 quality Holds 525 lbs.! 91 -lb. fast-freeze section. 2 food baskets, 2 dividers. 5-year food protection plan FREE! At Wards exclusively! Has precision-made coils, crush proof borders, and heavy damask ticking. Bex spring ....... 39.88 88 39 $4 DOWN t $5 'i 109.95 lined electric water heater $94 40 Gallon 10-YR. eUARANTEt Dependable, eco nomical, automatic Fast recovery and fiberglas insulation gives you all the hot water you need all day. Glass lining keeps water clean. UL approved. SALE! Finest permanent and , methanol type anti-freeze! Permanent ethylene glycol 4 AA type equals brands at twice I Jjf methanol! Both contain rust. inhibitors.Methanolpergal.84c GAL PERM. SALE! 35 to 4S CBfchen Tools ANY 4 FOR 511 ; Choose from matching spoons, forks; ' turners, strainer! Bright handles dress up your kitchen. Mirror finish 'resists rust. Save! Not all tools shown, come in! SI Reg. 8.95 Garden Cart 6.88 3-CUBIC FEET Heavy gauge steel cart hauls soil, gravel, leaves, etc. Sturdily built, well balanced, two-tone color. SALE! 4.98 Wardflex CERTIFIED. Fine for living or 'dining room walls and ceil ings. 1.49 QT., now 1.33 BALLOT No. Ill
