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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Dec. 8, 1958)
Stocks Set 'Exactly Nowhere' According to Official Indices B7 ELMER C. WALZER UPI Financial Editor New York - (LTD - The stock market struggled along this past week on a daily average 4 J ' ' '4 sales vol u m e of around wy v, i half million vt snares ana goi exactlyno- I ' I where. Meas- "til ured fey the y f T : l I of 500 stocks ELner Walzer the net change amounted to a loss of two cents a share. The Dow-Jones averages showed an equally small fluctuation. Industrials in the Dow Jones calculation closed the week at 556.75 off 0.71; rails 154.07,up 0.06; and utilities 86.47 up 1.22. The general average lost 0.08 to close the week at 193.97. Demand for the utilities which carried that 'group up in seven straight sessions re fleeted higher dividends and earnings for the group, and to some extent a veering away from inflation as a market in centive. Utilities are avoided in inflation because their rates are fixed by commissions which often are slow to re spond to increased costs. For the industrials, the mar ket was up Monday, Wednes day and Thursday and down Tuesday and Friday. Rails rose Monday and Friday and lost the. other three days Utilities Near Record At the close of the week, ' the utilities were within less than a point of their high for 28 years. The rails were with in about 4 points of their high for more than a year, and the industrials were about 11 points below their record high set on Nov. 17. Daily sales averaged 3,513,- 092 shares.1 That was 'the smallest ""since election day week and compared with a daily average the week before of 4335,274 shares. Brokers said;,the behavior of the market was. favorable. They held -that - the reduced 'volume and the narrow flue tuitions were preparing the list ;ior another attempt at penetrating the market highs. This-was "a-week of little market incentive for either , a rise or a decline. Business X : -i ... news was recovering from the small setback in the previous week which was cut short by the Thanksgiving Day holi day. Automobile production set a new high for more than a year but the financial district apparently was unwilling to jump to conclusions on the receptions of the new models because the leading motors were barely able to hold their own. What the market lacked in price movement in the lead ing issues was more than made up in wide price swings in the issues which are outr side the group used to calcu late the averages. Some of the stocks made wide gains. A few made wide declines. The market was es pecially interested in the drug shares which made substan tial gains. There were big gains also in some of the tele vision and electronic issues, inspired by talk of moon shots and new missile speedups. Industrial Gains Individual issues her and there responded vigorously to moderate increases in de mands. There were firm spots here and there in the major groups too, including some of the chemicals, tobaccos, oils, and building shares. Leadership in most sessions centered on the low priced stocks and the issues which Bloodmobile Visit Due At Shady Cove The Red Cross Bloodmobile will collect blood at Shady Cove and Medford, Dec. 16 and 17, respectively, the Red Cross office here has an nounced. - The Bloodmobile will be at the Veterans of Foreign Wars hall in Shady Cove between 2 and 7 pjn. Dec. 16. Quota for the visit is 100 pints, of ficials, said. The . unit will be at the Jackson county Red Cross chapter house, 60 Hawthorne ave, Medford, between 1 and 5 p.m. Wednesday, Dec. 17. Quota for the visit will be 290 pints. Appointments for the Medford visit may be made by telephoning the Red Cross office, SPring 3-3813. , , HOLIDAY : ABROAD9 WRCA V ICTOR'S , MUSICAL ra TOUR Or EUROPE l-rnr-Hiliiilll OliiiiiSBi L M it J 5 a fate---' iff Six beautiful new albums recorded abroad by the world's great continental orchestras. Musical trips to Paris., London, Rome, Lisbon, Dublin, Vienna. iailLjMEDfDfiP,0PtGOWr are less recognized for top rank. Metals were hard hit be cause of another week of soft ening copper prices both here and abroad. Tires did well, notably Goodyear which clos ed the week with a gain of 2Ya points. Tire reports show ed a sharp rise in replace ment demand and brought out predictions of an anticipated gain for the whole industry next year. Market men believed that the week may have brought in a small amount of tax sell ing. They believed that most of this type of liquidation is out of the way and hence no longer a drag on the market. Given an incentive, the market could well set out on a year-end rally, the experts felt. Top Commanders In Secret Parley Honolulu - (LTD - Top mili tary commanders of the west ern states, Alaska, Hawaii and Canada will hold a secret con ference at Pearl Harbor this week, it has been announced. A Pacific fleet spokesman said the military leaders would convene for a three-day conference on Tuesday. The purpose of the meeting was not disclosed, but the makeup of the personnel attending in dicated defense problems fac ing America and Canada along the West Coast of both countries would be discussed. - A week of staff level meet ings has preceded the confer ence, which will be held at the headquarters of A dm. Her bert Hopwood, commander-in-chief of the U.S. Pacific fleet. Hopwood is acting as host at the request of Pacific commander-in-chief, Adm. Harry D. Felt, Quotes From the News By UNITED PRESS INTERNATIONAL ' Washington-Dr. William H. Pickering, director of the Army's jet propulsion laboratory, Pasadena, Calif., on Pio neer Ill's-attempted lunar probe: , "While the results of the launching of Pioneer III were disappointing to the engineering specialists in that the probe did not reach the moon, the scientific benefits to be obtained more than compensates for this disappointment." Berlin-Willy Brandt, anti-Communist mayor of West Ber lin,, on his reelection: "We stand by our preelection promise that we would not misuses our power. The city needs the cooperation of all peace-loving forces who will work to build up the city." Washington-The Democratic Advisory council, in calling for enactment of federal legislation designed to open schools closed in the South by conflicts over racial desegregation: . "There is an obligation to meet the challenge of closed schools and potentially uneducated children as a result of the defiance of the law of the land by a few state and local offi cials." ' Washington-Defense Mobilizer Leo A. Hoegh, in ceremo riies commemorating the 17th anniversary of Pearl Harbor day: . . "The greatest tribute we fan pay those who have fallen in the defense of our country and in particular to those who fell on this day in 1941 is the solemn pledge thai never again will we be caught unprepared by a surprise attack." Clothing Drive Set for School Save the Children Bundle Days clothing collection has been endorsed by the Crater high school - Parent-Teacher association and will be held through Dec. 10, according to PTA president Roy Henry. The bundle day program is the 17th annual clothing col lection in schools throughout the nation, it was explained. It is one of the many pro grams conducted under the auspices of Save the Children Federation, a non-profit, non sectarian organization dedica ted to the service of children in under-privileged areas at home and overseas. Part of the donated cloth ing is stockpiled for. emergen cies such as floods and earth quakes in this country and abroad, a spokeman explain ed. "Good, used clothing ' your family no longer wears is des perately needed, Henry said. "You can help by bringing MAIL TRIBUNE, Medford", Prefer), Monday, December S, 195 7 summer and winter clothing and shoes for children, babies and adults to Crater high school during the bundle day program, he said. Clothing may be given also to students to bring to the school, he added. HAT COSTS LIFE Viareggio, "Italy (DPD A'; plumed hat cost the life of ; hunter Remo Gambini Sun-Cl day. Another hunter, Rinalda Bertolazzi, mistook the hat for1 J a pheasant and shot Gambinf; through the head. DfiJ Secretarial jnd Accounting Courses BEGINNING JANUARY 5 o Robertson School of Business 40-42 No. Riverside, Medford Ph. SP 3-4264 BIG FREE PARKING LOTS ROOM FOR NEARLY 100 CARS! (EMXTIEm Effing Open 7 Days a ( Week Until Vp.m. Sixth & Grape Streets Groceteria FRUIT CAKE Rich with highest quality candied fruits and nuts 19 lb. Wilshire Candied Fruits In Gift Packages 98 -P- 239 - 498 Maple Sugar CANDIES Priced From From Vermont 17c It's the season "to be jolly" ... a time of good cheer, good fellowship, and good food. Now, more than ever before, a gift of food is the 98 gift to give taste. a holiday expression of good Groceteria (ED H CEKYDFDCAYES for any amount available at our office Riley's English Toffee Imported from England Mb. Metal Box Famous Chocolates All Creams ....Mb. $1.75 2 lbs. ,.. . $3.50 Delux Pack 1 lb. $1.75 2 lbs. .$3.50 Fancy Pack ....L.l lb. $2.25 1 lbs $3.30 Buddy Boy Yellow POPCORN 2-lb. bag-29c 2 for 4S I Blarney Irish Fruit Cake Imported From Ireland SD29 lJ-lb. Can Two Sizes MACADAMIA NUTS From Hawaii Cefl 1Q f and II 69 Your Groceteria is the place to go for the brands you know! CRISCO SHORTENING 3 -lb. Can Rath Frozen BEEF CHOP-ETTES 8-oz. E Fhc Pkg. Rosarita Frozen ENCHILADAS c Pkg. 3)3) - r -J . JflL ' W ik- . Save 9c VL www: m ,-.t&r. jm f 3,b , . ' Can Lvnden JT KAVIULia CT t Family Size . 46-oz. can 51c ; , . -I ' ' J OUBTIUS CHOW JpJ WINSTON OI'IBT'IUSt'mll, : JiS&2l prince ffzwfj ALBERT vfe W W$ $119 . I tan Xm r jm Angel Cake Mix Snider' s Catsup MJB Coffee MJB Instant Coffee Swansdown Reg. 53c 39c Sav14 2 39c M bottles 7.00 Save 37e Reg. 85c 6-oz. Jar pound can 79c Save 6c 5r5rC Save 32e Reg. 1.31 jb Snowdrift dnorrening Save 14c : GIFT WRAPPINGS Christmas Gift Wrapping Paper Ribbons Tags Seals, also Mailing Paper String and Labels Available at Your Groceteria. Calgon Water SOFTENER 3gc 1-lb. 5) Pkg. Blue Mountain HORSEMEAT for Doqs No. 1 and Cats Can BUY IN QUANTITIES! ZEE Dove Soap A Paper Towels Bath six. Waxed Paper Re""' 33 :2 cutter box ZEE CHIFFON FLAVOR PACK Sandwich Bags Toilet Tissue Strawberries 10 2,29 c" 39 KRETCHMER Wheat Germ 12-OZ. Amj KUBLA KHAN FROZEN CHICKEN Chop Suey 49. Beads O'Bleach 18-ox. Pkg. 43 " STEINFELDT'S " Sauerkraut il-oz 1) can If you're not shopping at the Groceteria you are paying too much KOTEX Snitary Napkins 89 Pkg. of 12 , pkgs. SCOTKINS LUNCHEON Napkins . WALTER KENDALL Kibled Fives Mb. 10-oz. Pkg. 35 m ' Qt. Bottle CLOROX BLEACH Gal. Jug y
