Investment Policy for 1959
Hold Challenge To Stock Buyer
By ELMER C. WALZER
UPI Financial Editor
New York -CPI- Investment
policy for 1959 holds a chal
lenge to the stock buyer to
make the right
selections.
The invest
ment banking
of Dean
Witter & Co.,
r
' ii rm
7
4 -
f fci ' ' i stresses tnis in
IStTV i iits 1959 in
vestment pol
icy report.
Positive in-
Ei.ntr wauer vestment Doli-
cy for 1959, says the firm,
must rest upon the careful se
lection of securities that are
available either at their prov
en investment values or at
prices which place a moderate
premium on their probable in
vestment value.
An investment policy must
exclude the purchase of even
the most popular stocks if
they are selling on their "pos
sible" values since there is
no investment method of ap
praising pure romance," says
Dean Witter.
Suggested Policy
"A positive investment pol
icy for 1959 would seem to
diyide its portfolio:
"1. About 40 per cent in
proven values, which will sup
ply safe and adequate yields
in a market that is primarily
interested in discounting the
future.
"2. About 60 per cent to be
invested in areas that hold
promise of outperforming gen
eral business during the 1960s,
so that it is reasonable to pay
for a good part of probable in
vestment values which can be
Try and Stop Me
By BENNETT CERF
HIGH SCHOOL kids are reviving "Capsule Classics." They'll
never top these two old efforts of Franklin P. Mams:
1. "The Ancient Mariner":
' Twas a mariner ancient
said "Say,
Stick around kids and list
to my lay.
Shot a bird for a joke; -Saw
my shipmates all
croak; ,
Now I give to the
S.P.CA.'
2. Caesar's Commentaries:
Well, Rome really needed
the money,
And further, the Gauls
got too funny.
So we sent out our legions
To clean up them regions.
' J. Caesar? Yep, he was there, sonny!
Herb Stein defines an auction as "a' place where you get some
thing for nodding."
O 1958. by Benutt Cert Distributed by King- Feature Syndicate.
Quotes From the News
By UNITED PRESS INTERNATIONAL
Washington-The State department, on new Soviet threats
on the future of Berlin:
"The United Slates, which has made no threats, will not
be deterred by threats from defending its rights and discharg
ing its responsibilities to 2V million free people in West
Berlin."
Moscow-An official Soviet announcement, on the Berlin
crisis:
"It should be reminded that the Soviet troops are not in
Eastern Germany in order to show the Western powers the
road to Berlin."
Washington-Federal Judge F. Dickinson Letts, warning
the Teamsters union he can remove its president, James
Hof fa, if the union continues to defy the monitors he appoint
ed to clean it up:
"Remedies are not lacking in our judicial processes if the
orders of the court are violated, disregarded or ignored."
New York-Herbert Agar, former editor of the Louisville
(Ky.) Courier Journal, on how Israel has changed the role of
the Jew in world affairs:
"No longer is the Jew the doormat of history, resigned to
his fate. Today he can not only defend his rights and freedom,
but he is able to contribute constructively to solutions of the
world's ills."
expected to be converted into
proven investment values be
fore too long."
The firm lists areas of in
vestment which recommend
themselves as particularly
promising as companies pos
sessed of great raw material
resources such as oil, metal,
ore, land, and timber, which
provide the best possible
hedge against long range dan
gers of inflation.
Also outstanding research
companies,, and well estab
lished companies operating in
the last growing far Western
states where markets will con
tinue their acceleration of ex
pansion rates.
The firm reviews the past
with emphasis on the decade
1948-1957 when earning pow
er, dividends, and market
prices made sharp gains.
It holds that the next dec
ade is unlikely to produce
sains any better than those of
1948-1957 and asks: "Can the
market be expected to place
even higher premium prices
on established earnings?"
Rate of Gain Explored
At the rate of gain in the
1948-57 period to provide a
yield of 5 per cent, the firm
says:
"1. At 16 times earnings it
would take 10 years.
"2. At 20 times earnings it
would take 16 vears.
"3. At 30 times earnings it
would take 26 years.
"From this it may be con
cluded that
"1. At around 10 times earn
ings stocks represent proven
values.
"2. Up to 16 times their
earnings, stocks represent
probable values.
"3. Over 16 times their
earnings, stocks represent pos
sible values. '
Dean Witter ooints out that
at their 1929 peaks a buyer
would have paid more than 50
times the combined earning
power of Radio. Alcoa, and
Union Carbide.
"Despite their tremendous
rate of growth over the past
three decades," it notes, "the
1958 dividend payments sup
ply a yield of only 3.25 Der
cent on their 1929 cost Drices.
"This relationship reflects
all stock splits and other ad
justments. It is hard to think
of any company today whose
prospects over the next 30
years can be expected to
match the gains scored bv
these three great companies
over the past 30 years."
RECORD AFTERSHOCK
San Francisco-tUPD-A mild
aftershock of an earthquake
that jarred the San Francisco
Bay area was recorded Thurs
day afternoon on the Univer
sity of California seismo
graph. The quake measured
3.0 on the Richter scale of
10, compared to an intensity
of between 4.75 and 5.0 re
corded for the big one that
roused thousands of persons
at 1:52 a.m.
r - "IX. t"mv - t
Present... with a future
Tou give more than money when you give a savings
account in an Insured Savings and Loan Association.
You give someone a head start on the savings habit
... on getting many other worthwhile things in the
future. And, as over seventeen million Americans
know, saving in an Insured Savings and Loan Asso
ciation means important advantages. Excellent
returns from your money is one advantage. Efficient,
forward-looking service from men who know how to
make your dollars work harder for you is another.
And, of course, your money is safe because in In
sured Associations your savings are protected by sound
management and substantial reserves. They are in
nired up to $10,000 by the Federal Savings and Loan
Insurance Corporation an agency of the U.S. Govern
ment. These are the reasons why Americans
are putting more of their savings account
dollars into Insured SavL .gs and Loan Asso
ciations than anywhere else! And, with over $38
billion of assets, these Insured Associations are a great
force in encouraging thrift and home ownership.
You can invest in the future with as little as $1 to
$5. Plan now to give
someone in your fam
ily (or yourself) this
"present with a fu
ture." Why not start
with a part of your
Christmas bonus . . .
watch it grow . . .
more quickly than
you'd think.
OPEN
AN
ACCOUNT
TODAY
HO.
.55
5f
FIRST FEDERAL
Savings & Loan Assn. of Medford t II II If
29 North Ivy Street Robert F. Kyle, Manager
Convenient Street Parking
MAIL TRIBUNE. Medford, Oregon, Friday, December 12. 1958 I'
ll III I . - .
II IWk I . 0
VgYygX wy OTHERS to 15c Ea.
OPEN STOCK 5c up
BOXED CARDS
GENERAL SCENIC RELIGIOUS
Wide Range of Prices from 59c
PERSONALIZED CARDS 4c per Card (1 Line)
PHOTO GREETING CARDS With Folders
100 Black and White ...$11.00
Plastic Coated
PLAYING CARDS
i $1.49
POKER CHIPS
Box of 100 88c
POKER CHIP RACK
200 Chip Size
$2.88
GLAMOUR GIFTS $1 TO $23
GIFT TRIO: Evening in Pari
everywhere when you give her
glamorous Evening in Paris
cologne, talcum and perfume purse
flacon. A truly generous giftat
en amazing $250
SPORTSMAN DUO
$2.00
Manicure Sets
S3
D
98 c
TO
$22.50
The- Fragrance
Extraordinaire
REVL0N
INTIMATE
SPRAY MIST
. EAU DE PARFUM
Lingering,. C
W VUICU1 u,
sheH cherish it..
ZyZ-ounces.
- For
a Lady
So Lovely!
REVL0N
GOLDEN
M
FUTURAMA LIPSTICK
by Revlon
$1.75 tb $13.50
Matchmaker Set
35J
Tuturama' Epstick
& Gold Frosted
nail enamel
Incomparable
JEWELITE
3-Piece
DRESSER SET
$5.75 to $10.00
, ' .r i
SEAFORTH
Foursome $2.00
- ELECTRIC BLANKETS
by Northern Electric
Nylon To Hold Its Shape
Cotton and Rayon For
light-weight warmth!
Washable
Full Double Bed Size
Two Year Guarantee
Choice of Colors
SINGLE
CONTROL
$15.95
DUAL
CONTROL..
$19.95
C THE MOST
DISTINCTIVE
GIFT
OF ALU .
Capillary Pen
The amazing new
kind of pen that
fills itself, in
just seconds, with
just the right
amount of ink! v
Handsomely styled
in your choice of
eight models.
Handsomely
Styled
$20.00
nd Up
The Best of the Ball Pens
PARKER
T-BALL JOTTER
$1.95
ROOK 88c
MONOPOLY $3.19
ESKIMO YOYO 55c
SPRAY SNOW
AIROSOL CK-15-oz.
White WWC
FOIL ICICLES
10c pack 9c
25c pack 21c
Your gifts by
SHU LT ON
give special Christmas pleasure
OU SPtCE GIFT SET 2.25
Plastic Containers of After Shave
lotion and Stick Deodorant.
OlO SPICE GIFT SET 3.00
After Shave lotion. Smooth Shave, '
After Shave Talcum.
. . . for him
OLD SPICE "TREASURE CHEST- 7.00
Contains After Shave lotion. Men's
Cologne, After Shave Talcum,
Smooth Shave, Stick Deodorant,
Body Talcum and Shower Soap.
Powdr3J0 tr-
DESERT FLOWER GIFT SET 4.5
Dusting Powder and Spray Cologne
beautifully gift-packaged in gold,
green and white.
Dvttinf
Spray PcrfuM
3 JO
ESCAPADE
Spray Cologne
2-50
tarty American OlO SPICE
Ousting Powder 1.50
SHRISTMAS TREE
LIGHT SETS
INDOOR
8 Light Series ........65c
MULTIPLE SETS
7 Light 88c
7 Light Twinkle....$ 1.88
6-Light, Glita ......$1.88
15-Iight, Glimmer $1.88
OUTDOOR
7 Light $1.89
15 Light $3.88
25 Light $5.88
EXTRA GLOBES
C-6 10 for 59c
C-7V4 .......... 10for75c
C-9tt ; 10for98c
SELECTED GIFT
CHOCOLATES
WHITMAN'S
Famous
SAMPLER
1 lb $2:00
BROWN & HALEY
ALMOND ROCA
Gift Tin -$2.00
OTHER FAVORITES
$1.35 to $4.00
BRACH
CHOCOLATES
3 Lb .. $2.39
ELECTRIC CORN POPPER ...$3.49
$12.95 REVERE WARE
SKILLET 13"-Copper Clad Stainless Steel $7.49
$22.95 WESTBEND
ELECTRIC SKILLET with Lid $18.88
, $16.95 SUNBEAM
PORTABLE ELECTRIC MIXER $13.88
$17.95 SUNBEAM
STEAM & DRY IRON.. $14.88
WESTERN THRIFT WILL TRY TO ACCEPT TRADE RAZORS THROUGH DECEMBER 24 BUT ELECTRIC RAZOR TRADE-IN
ALLOWANCES ARE APPARENTLY BEING WITHDRAWN BY ALL MANUFACTURERS.
SUNBEAM'S
Famous SHAVEMASTER
I. -2-
t
the
C3Q Rfl
Price SiW
NOW $17.88 WITH TRADE .
SCHICK POWER SHAVE
(I c: 'i ih, jMl
NOW $18.88
WITH
TRADE
$32.50 REMINGTON ROLLECTRIC
NOW $18.88 With Trade
REMINGTON
ATJTOEOME
Only shiver withv
rollers. Gets Hidden
Beard other shavers
miss. "Man Size"
head, six diamond
honed cutters.
FOR HOME or CAR
pfice.: $34.50 $18.88
F'ti
WITH (VN m
TRADE Y5' J?
$24.95 NORELCO $14.88 WITH TRADE
n J WINSTON
tHMsmuswni
illpj pRNCE
CN(SAS cMTn
Regular $2.50
BRIAR PIPES
Free Pipe Holster
Wide Variety Shapes
$1.49
Other Pipes
KAYWOODIE
YELLOW BOLE
MEDICO
PUREX
FALCON
VIKING
Add Federal Excise Tax on Taxable Merchandise
FT
Free Delivery in Medford
vr
Br
SPECIALlSTSyV lVWAJ UKlU'fint. 'AtC OyfW
V
r
30
N. CENTRAL
DIAL
P3-537L
Film Developing and Printing
YOUR CHOICE
FAST TOP QUALITY
LOCAL SERVICE
In by 10-Out by 4:30
Regular Prices .
2 DAY SERVICE
Standard 8-Exposure T
Roll :
Contact
or Jumbo
39