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:
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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
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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.
HERTZ
TRUCK RENTAL
Available
at
HOPKINS RICHFIELD
SERVICE
McAndrewj at Court SP 3-9068
and yours
a mi r ai
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1109 COURT STREET
MEDFORD
Q3 (sXyJuWfi?
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