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