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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Dec. 21, 1958)
t MAIL TRIBUNE, MeefW, Oregon, Sunday, December 21, 1958 Til V V v3 FIRE DISASTER Eighty-two persons were trapped and died when fire swept through the large "Almacen Vida" department store in Bogota, Colombia. Military police armed with rifles are shown holding back the crowd while rescuers carry out bodies. The fire started when a Christmas lighting display short-circuited. One-fourth of the world's. About 755 million clothes- wool comes from Australia. pins are sold annually. FIR SLABSI ESTABLISHED 1896 Big Loads Summer Prices Buy Now Prompt Delivery MEDFORD FUEL CO. m I GREEN ISTAMPS Telephone SP 2-2111 Court & MeAndrevrS Swimmers May Enjoy Summer In Plastic Bubble Ashland-A transparent plastic "bubble," held up by air pressure, will provide swimmers with summer temp eratures in the middle of the winter when installation of new facilities are complete at Twin Plunges in Ashland, ac cording to pooL manager Les lie Dobson. Use of the thin plastic sheet ing, made by duPont, has only recently been adapted for this purpose and the installation at Twin Plunges is reported to be the first one on the Pacific coast, Dobson said. Though the material is very thin, it is tough enough to withstand winds up to 70 miles per hour. The bubble under pressure will support a man walking across it. . Interior - pressure will be maintained with two "squir rel cage" blowers and special ' valves will allow a certain amount of air to escape to prevent building up excess pressure. The bubble, shaped like a quonset hut, will be held up at each end with rigid stud ding. Air pumped into the pool area Will be heated as well as the water, maintain ing a temperature of about 80 degrees inside the struc ture. Sunlight coming through the plastic will also provide warmth and bathers will be able to acquire a tan. Sun lamps will be installed to help create a summery effect, Dobson said. Construction is nearly com pleted now and Dobson said he hopes to. open the new fa cilities the day after Christ mas. The pool will be open to the public five days a week and - for special groups on week ends. Hours will be from 3:30 p.m. until 10 p.m. week days. The pool is owned by Mrs. Lydia Dobson, Ash land. POOL COVER - Rogue valley swimming enthusiasts will be able to bask in July temperatures even in mid-winter when in stallation of a thin. plastic bubble over the warm water pool at Twin Plunges, Ashland, is complete. The framework in the picture above will serve as end supports for the plastic membrane and air pressure will keep it taut. Air and water temperatures, will be maintained at , about 80 degrees. Tentative opening date for the' pool has been set for the day after Christmas, ac cording to pool manager Leslie Dobson. Impact of AT&T's 'Bombshell' Sends Stocks to Record Highs 1 - x.' :- .vRcov. - -yrss-s -.r. k AI,J .V n- S3Sk Sf " "31 TE ' ' JUNE and FRED MAC MURRAY say: give her an automatic Gas range! rM$ 'L 1 i : - t'W - , $ , JLt uaiMM aMiBteiMiMliillMMtMiyO il l ill 1 f n i mil i imMUiiltaimmmmmM,M FASTER, CLEANER, COOLER COOKING! No wait for Gas turn it on and you're cooking! No hang-over heat, either. Nothing to overheat the cook or the kitchen! And every inch of a Gas range is a cinch to clean, too! AUTOMATIC CONTROLS TAKE OVER HER CHORES! Automatic top burners keep food from burning. Meat thermometers ''mind" the roast; rotisseries even baste automatically. Cook ing's easier, surer, quicker with Gas! SAVES YOU MONEY ALL YEAR LONG! Lower fuel bills for every second of cooking time and fast, automatic Gas doesn't waste a second. No costly "installation extras' before you can cook on your new automatic Gas range even built-ins install easily, quickly! VISIT OUR DISPLAY FLOOR OR CALL ON YOUR GAS APPLIANCE DEALER CALIFORNIA-PACIFIC W UTILITIES COMPANY MEDFORD, OREGON PHONE SP 2-5284 By ELMER C. WALZER UPI Financial Editor New York -(OPB- American Telephone & Telegraph capi tal stock whisked the stock rMWTU market into new record high ground during the past week when it broke an old custom an d split its stock three-for-one. Always op- cuier waizer posed to a split-up, the telephone, man agement kept its secret so well tht Wall Street and the nation generally were taken by complete surprise when the announcement came Wed nesday afternoon. Directors of the company voted also to raise the dividend by 10 per cent . which would make the new stock pay $3.30 a share annually. The market had been edg ing higher before the tele phone bombshell hit but it took that piece of vital mar ket news to put the market over the top of the old indus trial high set on Nov. 17. The telephone news was one of three outstanding mar ket items which made the markets sparkle. The other two were the listing" of Great Atlantic & Pacific Tea Com pany capital shares, repre senting a 10-for-one split of the old stock, and the merger of J. P. Morgan & Co. and Guaranty Trust Company into a $4 billion bank. The best prices of the week were set late in the Thursday session. The market moved up further in many issues on Friday but ran into the in evitable profit - taking that comes at a week - end after steady advance. New Highs Rtachad Dispite the realizing, indus trials, and utilities closed the week at their highs indust rials at an all-time record, and utilities at a new top since mid-1930. . Industrials made their best gain since the week ended Nov. 7 when the market was in a post-election spurt on be- i m even j the boss i 1 won't know You're at your best in any sit uation with Sonotone's latest a slim-trim eyeglass hearing aid. Only eyeglass hearing aid with exclusive AVC (Auto matic Volume Control) to soften sudden, loud noises. Fashion-thin temples for both men and women. Also latest "Tuck-A-Way" styles for those who don't wear glasses. COME IN. SEE AND HEAR SONOTONE G. R. Adamson, Mgr. 839 E. Jackson Phone SP 2-5904 lief , the Democratic victory meant more and more spend ing and inflation. The aver age of 65 stocks also set a new record high. American Telephone capi tal stock ran into a snag when the split announcement came. No one wanted to sell and many wanted to buy. Trading was suspended in the stock 90 minutes. Hence it was necessary for the bidders to put their price up. They paid $23 above the previous close for the first trade when the stock reopened, on a block of 75,600 shares at 225 a share. The stock closed on Wednesday on a gain of 21 points. New High Next day it ran up to a new high since 1930 at 2271s. At that figure the value of the 1,315,172,584 shares listed on the stock market on July 1, 1932, the depth of the great depression. . According to stock exchange records the SUSPICIOUS OF CHECK Alexandria, La.-fUPD - Chief Deputy Sheriff Ray Stuart re ceived a check for $10 Friday but he doesn't plan to cash it. The check was signed by Otis Smith and carried the inscrip tion "Christmas present for the chief." Smith is serving time in the Louisiana state prison for passing bad checks. value of all listed stocks that July day was $15,647,577, and the average price of each was $11,189 a share. . At the close of the week," the Dow-Jones industrial av erage stood at 573.17 up 10.90 on the week; railroad 154.68 off 0.02; utility 89.00 up 1.05; and 65 stocks 198.61 up 2.70. Railroads Lag Traders were disappointed over the performance of the railroad issues which still are 3.23 points under their Nov. 19 high. This group was a lag gard most of the week and late in the Friday session it was meeting considerable selling. American Telephone closed the week at 223 Vt for a rise of 23 V points. Eastman Ko dak gained 8V4 points and many another high priced stock spurted on belief there would be a series of splitups now that telephone has led the way. International Busi ness machines ran up 7Vi points in this group. Rohm & Haas gained 20 points. Zenith Radio ran up to 208V, up 25 Vt points, and lost every cent of the rise to close the week unchanged. Few Losers Among the issues making up the industrial average there were a few losers of a point to more than 2 points in International Harvester and more than 3 in United Aircraft. General Electric rose more than 3 on outlook for a good fourth quarter. In ternational Paper and U. S Steel each rose more than 2 points and Union Carbide gained more than 3 points. Sales for the week totaled 18,656,430 shares, a daily av erage of 3,731,286 shares. This compared with the previous week's total of 19,094,914 shares or a daily average of 3,818,982 shares. INVENT FELT HAMMER Copenhagen, Denmark-ttlPD-Two Philips Radio company workers shared a company prize of 200 kroner ($30) Fri day for inventing a felt ham mer with which to bang on television sets. Previously company workers had smack ed the sets testing for loose connections with Copenhag en telephone directory. MAY HIRE JAPANESE Tokyo-flJPD-America's Gen eral Electric Co. may hire Japanese electrical sub -contractors to help build an atom ic reactor in Italy. Sadahiko lishi. vice president of the Hitachi Company, said yester day. He said it would be the first time Japanese firms help ed build an atomic plant. Camp Lee, near Hopewell, Va., is the Army's largest quartermaster installation and training center on a perman ent basis in the United States. 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