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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Oct. 29, 1958)
Substantial Drop in Market Would Be By ELMER C. WALZEH UPI Financial Editor New York-CPD-Many Wall Streeters of the old school would welcome a substantial S?", drop in the market at this time. .mmm But-they IMZtiJ ruefully admit 1IMt,iere probably .J;:,;f;:y isn't a chance of getting one. They agree in i imany instances ..r J with the diag- Elmer Wibtr nosis oi tne market set forth in the cur rent Standard & Poor's "Out look." "An adjustment at this stage, would go a long way to ward preserving tne list's in ternal health and minimize the chances of a severe set back later on. "Two courses of action are open. One would be for a re action of normal technical proportions. The other would be for the list to quiet down and move irregularly in a sidewise pattern while wait ing for" business to catch up. "In view of the widespread feeling of confidence and the pressure of funds seeking in vestment, we are more in- VOTE FRANK IZHIflMlfllJ waaaiaw in Democrat FOR COUNTY COMMISSIONER For Sound County Administration Elect Frank Christian VOTE! Pd. ad. Frank Christian for Co. Commissioner, Jackson Co. Dim. Central Com., Jim Red den, Chmn. 2246 Aloha Ave. PICK'S Don't miss this op portunity to SAVE on New Fall Shoes. Terrific Savings! 3 DAYS ' I 4 100 Pair Fall DRESS SHOES All Colors, All Heel Heights &9 l ) Va,ues $13.95 100 PAIR CLOSED CASUALS Mid heel crepe sole walking shoes. Red, tan, black & grey. Use your PICK'S Charge Account, Charges made now not payable . until Dec. 10 or Lay-Away. Welcomed clined to believe that the lat ter course will prevail." Recently the list has been feeling the effects of the higher margins and the rise in the discount rates. Treasury in Market The current discount rate is 22 per cent in five district banks and 2 per cent in the other seven. The latter are ex pected to fall into line but no further increases are antici pated for some time. The reason for this belief is that a rise later on would hurt the Treasury's operations in the market. It will be in the market in mid-November for S3 billion in cash and again in December with a refunding operation. Those who look on a 2Vz per cent discount rate as high for this time might look back over the record to 1929. On Aug. 9, 1929, the discount then called the re-discount rate was raised to 64 per cent in an effort to head off speculation. It was put back to 5 per cent on Nov. 1 after the jolting market slides of late October, 1929. Back in late October of 1929, the market community was having its troubles in keeping the books posted so heavy was the volume. Take the week that began on Mon day, Oct. 28. Sales on that Monday- totaled 9,212,800 shares. Next day Black Tues day the volume hit the all- time high of 16,419,030 shares. On the 30th, sales were 10,727,320. The market opened at noon on the 31st and even so did a volume of 7,149,390 shares. Clerks Are Tired It closed Friday and Satur day and reopened the day be fore election when volume totaled 6,202,930 shares. Then came a series of 13 sessions with the market opening at 1 Paper Industry Revives Talks Portland, Ore. -fUPD- Offi cials of the pulp and paper in dustry of the West Coast met with representatives of two unions here Tuesday to re open wage talks. The labor groups are. the Pulp and . Sulphite Workers Union and the United Paper workers and Paperworkers. The employer group and the two unions agreed last spring to continue their exist ing contract with no wage in crease, but the agreement called for a reopening of talks j on the wage question. Both sides announced that no statements would be re leased until talks are con cluded. A joint statement will be released at that time, they said. ONLY! Thursday, Friday and 150 FLATS V Rlarlr anrt Brawn. Black and Brown, calf and suede. JM by Some p.m. to give the clerks time to catch up with their back work. This conjuring up the 1929 volume is merely a reminder that we've been having some heavy trading of late in this market and' the clerks are tired enough to appreciate a holiday the day before elec tion day. Reynolds & Co. in its week ly market letter has this" to say on the subject today: Considering the hectic and huge volume markets of re cent .weeks, Wall Street as a whole and its back offices in particular, are thoroughly ex hausted at this point. It would be a nice, though most unlikely gesture, to close the exchange Monday before election day, which would thus afford a four-day rest for many and permit oth ers to catch up on their work load." The Reynolds commentator hopes for a setback in the market of one-third correc tion of the sharp rise since July. This would bring -the Dow-Jones industrial average back to about the 524 level. Actress Charges Ex-Husband Unfit Los Angeles -(UPD- Actress Lynn Bari charged in superior court Tuesday that former husband Sid Luft was not a "fit and proper" person to have custody of their 10-year-old son, John. Miss Bari, appealing last month's award of the boy's custody to Luft now married to singer Judy Garland, said John told her "he eats with the servants and . the other children and does not dine with his father and stepmoth er" at the Luft household. Luft and Miss Garland were involved in "conflicts and al tercations" which made the Luft home an unhappy place for the boy to live, Miss Bari charged. HELPFUL PENTAGON Indianapolis, Ind. (UPD -Lenny Koplow had to get in touch with the Pentagon to return a lost wallet. He found the wallet con taining $600 and a card with name and serial number but no address. He contacted the Pentagon, received a six-year-old address and made a tele phone call. Samuel G. Ransom, 43, hap pened to be visiting his aunt when the call came. He said the money was his reenlist ment pay. London (UPD Circuit ser vant Henry Holland won a di vorce Monday on the grounds that his wife's nagging affect ed his accordion-playing. , Saturday Pair Fall 77 at 112 EAST MAIN Next Door to Robinson Bros. Mitchell Attacks Right-lo-Work Laws Minneapolis, Minn. (UPD -Secretary of Labor James Mitchell attacked "right to work" laws Tuesday night as "phony arguments" that "draw their strength from un informed individuals." In a number of states, not ably California and Ohio, Re publicans are staking their campaigns for election Nov. 4 on backing laws to outlaw the union shop. "This phony argument that laws which prohibit union shops are 'right to work' laws leaves me cold," Mitchell said. (Mitchell noted that the na tional Republican Party does not back "right to work" leg islation, and added he has "always considered the laws as Democratic issues since most of the states that have such laws are controlled by Democrats." TO VISIT CHINA Tokyo -(UPD- North Korean Premier Kim II Sung will vis it Communist China soon, the Communist New China News Agency has reported. Make It Yourself These trees, made by your self, will be lovely Christmas decorations for many years to come. Pattern 7247: patterns, di rections 2 trees. One takes yard felt; the other of crino line, easily loided, cut, is made in 2 hours, or less-costs little. Send THIRTY-FIVE cents (coins) for this pattern-add 5 cents for each pattern for 1st class mailing. Send to House hold Arts Dept., P.O. Box 168, Old Chelsea Station, New York 11, N.Y: Print plainly NAME, ADDRESS, PAT TERN NUMBER. Our new 1959 Alice Brooks Needlecraft Catalog, just out, has many designs for crochet ing, knitting,, embroidery, quilts, dolls, weaving. A spe cial gift, in the catalog to keep a child happily occupied -a cutout doll and clothes to color. Send 25 cents for your copy of the book. This year send the new 3XLARGE-PICTURE PHOTO- GREETING CARDS . . . friendly as a Christmas Day visit! Just select the Photo-Greeting Card you like best from our new designs that fit your favorite negative . . . horizontal, square, or vertical. Your greeting is printed around the edge of the large picture. Order now! . FREE SAMPLE Given with Every Roll of Black and White Film Developed and Printed In by 10 - Out at 4:30 We Give S&H Green Stamps ANDERS PHOTO SHOP 232 E. Main, Ph. SP 2-5646 Interest Rate Hike on Federal Farm Loans Seen Washington -OTD- Adminis tration farm officials are con sidering an increase in inter est rates on federal farm own ership loans from 4.5 per cent to the legal ceiling of 5 per cent, it was learned today. The loans involved are made and supervised by the Agri culture Department's Farmers Home Administra tion, which lends only to low income farmers. Some of the loans are made with federal funds. Others are government insured or government-guaranteed loans made with pri vate funds. Necessity Seen No decision on the interest boost has been made, an Agri cultural Department official told United Press Interna tional. Official s have dis cussed the possibility of an in crease however, this spokes an said, and "realize we may be faced with the necessity of entertaining it." The official indicated ad ministration policy m.a k e r s would move slowly and re luctantly in boosting the farm loan rate. He pointed out how ever that the Farmers Home Administration's insured loan program is under pressure from a money market in which other investments pay a better return to private lenders. One source of funds for the i'. (t HA t 5 IjH S y REFLECTS HEAT y BOTTOM CAN'T BAKE CRUST STAYS DOUGHY t t-r A . Pre i t I . .. . McLEOD Lions Hold D McLeod The Prospect Lions and their ladies held their annual turkey dinner on Wednesday evening. Oct. 22 at Beckies Cafe in Union Creek. About 75 members at tended including some from the Crater Lions club in Med ford. They were Mr. and Mrs. Dan Dyer, Mr. and Mrs. Wil lard Mattson-Dr. and Mrs. Jackie Ingram, president of Crater club and Mrs. Kay Koyler. The evening was spent in Community singing led by Lion John Gartman. The Prospect club intends to go to Roseburg Nov. 15 when the Roseburg club celebrates its 30th anniversary. -Miss Sharon Wilde flew in from Honduras, and Guate mala to spend the winter with her parents, Mr. and Mrs. Wil lard Wilde, at their home on Elk creek. Miss Wilde is a registered nurse, and attend- agency's insured farm owner ship loans has been complete ly dried up since early August, the official said. Big banks and other national-scale lend ers have not invested a cent in the program since August. Local banks which "buy" insured government .farm loans in their own commun ities are continuing to finance the program, the official said. But he said the government rate is "not competitive" with the returns investors can get how in other government or government-guaranteed secur ities. V. 54 -jo v "Thanks for the many fine products . . . "Feel I must express gratitude for the many delicious products you have to offer. We find Chefs pies the most delicious we've ever eaten. I've always been considered an excellent pastry cook but now I bake no more. That wonderful Bottom Baker pan does a perfect job and Chet's pies are always brown on the bottom ... hold their perfect shape . . . have such flaky crust and delicious filling ... not a lot of 'goo'. Assure you we'll continue to enjoy all Chet's products often." Mrs. Niels S. Madseil 1473 E. 33rd St. Oakland, California ATTRACTS HEAT BOTH CRUSTS BROWN PIE BAKES PERFECTLY pared inner ed school here. Mr. and Mrs. Herb Carl- ton are vacationing in Calif- j ornia with friends in S a n j Jose and Fresno. Upper Rogue Grange is hav ing a "fun night" and dance i in their hall Saturday, Nov. j 22, the public is invited to i attend. i Mrs. A. T. Wilson fell and hurt her back and would ap preciate hearing from any of her friends. Her addess is Dayton, Ore. Mrs. Elvira Evers is visit ing in San Francisco with rel atives and at her daughters home there. Mr. and Mrs. Roy Vaughn have returned to their home on Laurelhurst rd. after visit ing their daughter-in-law and son, Mr. and Mrs. Donald Vaughn at Napa, Calif., then a few days with a nephew and family at Quincy, Calif., Mr. and Mrs. Darrell Nicklos, FLQQiCOVERING SERVICE 127 NORTH RIVERSIDE We Install Your LINOLEUM, CARPET, FORMICA & TILE Carpet and Furniture Cleaning Repairing SP 3-6587 Eves. SP 3-3943 WOMEN WHO HAVE NOT YET TRIED CHET'S Miracle OTTOM BAKER" GOLDEN BROWN BOTTOM EVERY TIME...or mum mi mom ser plu& one Cimply write a letter telling why you like CHET'S MEAT and FRUIT PIES with the EXCLUSIVE "BOTTOM BAKER" Pan. It mutt be a bona-fide letter containing Bottom Baker Seals from a CHET'S FRUIT PIE AND A CHET'S MEAT PIE label we want you to try both. If your Utter it one of those accepted at suitable for publication we'll send you $100 CASH. A FREE DINNER For Every Letter We will give EVERY LETTER WRITER who complies with these simple rules a CHET'S Complete Frozen Dinner your choice of Ham, Turkey, Fried Chicken or Swiss Steak. Limit One Dinner per Person. All letters become the property of Chet's. None can be returned. FROZEN 00DS m r hot - f V rw tx?. uo cugenc with care --the MAIL TRIBUNE, MedforJ, Of., and with Mr. and Mrs. Bill Billensby at Carson City. The ... by calling the very best Movers first and that's Davis! We'll move your prec ious belongings quickly and with care . . . and at a big saving for you! For the best move of your life - - call Davis! Your BEKINS Agent DAtfl Medford-139 South Fir Ashland-240 4th St. BEKINS AGENT FOR MEDFORD AND ASHLAND on 5 of the 00 Decision of judges final. This offer good through October, November, December, 1958. Simply pop CHErS FRUIT t MEAT and bake. If the BOTTOM CRUST IS NOT GOLDEN BROWN THAN ANY OTHER frozen pie 'you've ever used, send us the wrapper with the name of your store and the price you paid. We will send you DOUBLE YOUR MONEY BY RETURN MAIL. This offer good October, November, December, 1958. wreggn quality's there! jt Wednesday, October 29. 1958 3 Billensby's used to own a ranch here. TRANSFER AND STORAGE CO. Crating & Packing Phone SP 2-6273 Phone MU 2-8552 CRUSTS PIES in a hot oven MORE DELICIOUSLY
