Medford mail tribune. (Medford, Or.) 1909-1989, February 17, 1959, Image 5

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Medford mail tribune., February 17, 1959, Image 5

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Newspaper Page TextBig Stocks Change Little Since 1929; Splits Make Difference By ELMER C. WALZER UPI Financial Editor New York-CP-Every time the averages of all stocks list ed on the New York Stock Exchange rises 20 cents, the valuation of "J- all the listed ' snares rises by -V i more than SI - M Ulillllll. That's be- are more than I f i v e billion , shares lis ted on the big KUner Waizer board-the last total available as of Jan. 31 was 5,074,653,334 shares. Incidentally, as of the end of January, the value of all the listed, shares amounted to $280,825,782,527. That's only about $5 billion less than the national debt Of course, if anyone tried to liquidate that stock to pay the debt through confiscation of the stock-as might be done in Russia -the value would shrink like a sponge in reverse. For the big stocks, this mar ket is pretty much the same as it was in 1929 when the listings first reached the billion-share mark. The out standing difference today is that the shares are in small er pieces and there are more of them. It's nearly all done by splitups. G.M. Good Example Take General Motors Corp, for example. Back in 1907 there were 825,588 shares of GM outstanding. In 1920 there was a 10 for 1 split which listed the total to 20,- 539,344 shares In 1924 GM had a reverse split - 1-f or-4 which brought the shares down to 5,161,099. A 50 per cent stock divi dend in 1926 raised the total to 8,700,000 shares. In 1927, a 2-for-l split brought the to tal to 43,500,000 shares in 1929 There was a long interval until 1950 when a 2-for-l split boosted the outstanding stock to 88,208,680 shares. A 3-for- 1 split in 1955 lifted the total to 280,980,096. The company issues stock from time to time for its in centive plan and today it has 282 million shares outstand ing. This tops the list. - The other big listings in clude in order of size: Stand. Jury Being Chosen To Try Mrs. Duncan Ventura, Calif. -TO- The selection of jurors continues today for the trial of Mrs. Elizabeth Duncan, 54-year-old Santa Barbara, Calif., matron accused of hiring two men to kill her pregnant daughter-in-law. Attorney S. Ward Sullivan, . Mrs. Duncan's lawyer, de spaired of seating a jury after day-long questioning of pros pective jurors Monday for the murder trial expected to last up to a month. ' "It's going to be very dif ficult, if not impossible, to find a fair and impartial jury in Ventura county," Sul livan, veteran Los Angeles criminal lawyer, said. "Peo ple up here seem to have their minds made up." Sixten prospective jurors were questioned and nine of them were excused for "cause." All said they already had made up their minds on the guilt ofMrs. Duncan. ard Oil (N.J.) 215 million shares; American Telephone (after April 15) 212 million; General Electric 88 million; Sears Roebuck, 75 million; Standard Oil of California, 63 million, Texas Co., 60 mil lion; U.S. Steel, 53 million; Socony Mobil. 49 million, and Du Pont 46 million. These members of the big ten have together a total of 843 million shares or about 17 per cent of all the stock Try and Stop Me - By BENNETT CERF : "rpKT.T. ME the truth, Joe," begged an insurance man of his J- associate. "Did I get sozzled at the convention banquet last night?" "Indeed you did not," was the reassuring answer. "In fact, you spent the whole last hour of the oc casion under the table pro testing about the low ceil ing." "No more.dates with egg heads for me," insisted a stenog to her pal one morn ing. "He took me to see Macbeth Saturday night When I told him I adored Shakespeare, I never meant for a U'hole evening.'" A Houston o3 magnate let his new foreign car get out of control and ran into 11 other machines before he could stop it For tunately, it all happened in his own garage. The proudest flea at the flea circus was the one who boasted, "My children are growingmp superbly. They've all gone to the dogs!" 1939. by Bennett Cert Distributed by King Features Syndicate, Oregon News Briefs EXPOSITION MONEY Portland -UPD - H. Quentin Cox, Oregon Centennial expo sition and fair manager, said Monday that the Oregon Cen tennial Exposition and World Trade fair will draw between six and eight million visitors who will spend approximate ly 5177,480,000. lne exposition will run from June 10 to Sept. 17-100 days. . FLU CASES Portland - (UPD - The State Board of Health said today that although reported flu cases in Oregon are running higher " than . last year no Asian flu has been reported in the state. Dr. Harold Erick- son, state health officer, said Oregon was experiencing only a mild influenza out break now common to the time of year. But he recom mended that expectant moth ers and others weakened by other diseases receive flu vaccine from physicians. - V a- RIVER GAUGE Portland-fUPD-From now on readings of the Willamette river in Portland and the Co lumbia river at Vancouver, Wash., should be about the same. A new river gauge was placed in operation at Van couver by the weather bu reau Monday. Officials ex plained that the old Vancou ver gauge read .8 of a foot be low that in Portland for the past 56 years. duced a bill Monday which would set up a maximum $500 fine or 60-day jail sen tence for anyone who wilful ly abandoned a dog or cat, DISPLACED PERSONS Salem-niPD-Sen. Alfred Coi bett (D.-Portland) and others Monday introduced a meas ure which would require the Highway department to study availability of housing when ever 25 or more persons in one year lost their homes be cause of highway projects. The measure was asked by Mayor Terry Schrunk of Port land ' who said some 5.000 persons will be displaced in Portland in the next 11 years because of highway work. JAPANESE STEEL Portland-UPl-Four times as much Japanese-made steel is being imported into Oregon this year as last year, the Multnomah County Central Labor council was told Mon day night. The United Steelworkers Union reported the increased tonnage was being unloaded here for use in state and pri v a t e projects after being "mixed in" with American made steel. The council approved a res olution supporting legislation that would control use of for eign steel on state projects. SAFE LOOTED Portland - (UPD - Two men wearing stockings over their heads forced the manager of a car wash business to drive him to the firm and open the safe last night. They got away with about $800, police said. DOGS AND CATS Salem 1CPD - Sen. Walter Leth (R.-West Salem) intro- OPTIONAL Salem-OIPB-The House Mon day passed and sent to the Senate a bill which would make cancellation of a motor carrier permit by the public utility commissioner optional rather than mandatory for certain infractions. The bill would allow the discretion for failure to file an annual report, failure to appear for hearing after notice a license was under investigation and for not furnishing service for a period of six months. DRINK ON POLICE Portland- (UPD -Someone de cided to have a drink on the Portland police department, Burglars broke into the po licemen s clubhouse and stole nearly 70 bottles of various liquors and half a case of Scotch whisky. Lad 7J Dad Night Set at Lone Pine A Lad 'n Dad night will be held at Lone Pine school to night for all boys in the first three grades and their fathers. Sponsored by the Y Indian Guides, the program is de signed to provide fun and fel lowship for the boys and their fathers who take part. The evening's activities at Lone Pine school will consist of games, stories, Indian ritu al, slide films and sign lan guage. The time set for the start of the meeting is 7 o'clock. Activities will be con cluded by 8:15. BOARD CHAIRMAN DIES New York (CPD William H. Pouch, 84, board chairman of the Concrete Steel Co. and a leader in the Boy Scout movement for more than 30 years, died Monday after a long illness. ' INSISTING it was an acci dent, Duane Anders, 17, high school honor student, tells of slaying father at Estacada, Ore., home with rifle, then burning body in barn. State Employees Group Sets Meeting Oregon State Employees as sociation chapers in Jackson and Josephine counties will meet at 8 pan. Wednesday, Feb. 18, in the Carpenter's Union hall, 123V2 West Main st., Medford, according to Doyle Stockton, president of Southwest Oregon chapter. Jim Daniels, executive sec retary of the OSEA, will dis cuss the current legislative session and Max Manchester will speak on the public em ployees retirement system. All state employees are in vited" whe':her they are OSEA members or not VODKA MARTINI or BLOODY MARY? 'Both drinks ore best made with smooth, flawless Smirnoff. Just be sure you use the Vodka of Vodkas... and have it your own way , pwf. if leaves you breathless &mirnotr vodka tfi i 100 Proif. Distillii fiia jniL Sta. Finn Smiraiff FU. (tit if Histliii). Birtfut Can listed. Thus they make up a little stock market of then own. If each one would rise $1.25 a share, their total list ings would rise in value by more than $1 billion. When American Tele phone's 4-for-l split becomes fact on April 15, the date of the stockholders' meeting, the total of listed shares will rise by 141 million shares. Book Value Differs The value of a company's stock doesn't mean that's the asset value of the company as carried on its books. General Motors as of the end of 1957 carried its stock at the par of $1167 a 'share with a value of $468,315,160. Right now it's worth nearly $13 billion in the market. Standard Oil (N.J.) carries its assets around $8 billion and its stock is worth more than $11 billion. All of the foregoing is car ried to indicate that the dol lar changes in stock valuation do not mean that anyone is richer by the big figures. All the holders of all the stock listed are richer on paper by $1 billion if the market goes up 20 cents a share on aver age. Where does one get such, an average? It's the Standard & Porr's Index of 500 stocks which has . been uncannily running neck and neck with the actual market average as calculated each month by the exchange of all stocks. For example, on Jan. 30, the aver age of all stocks by actual figures was $55.34 and the Standard & Poor's Index was S55.42. Cub Scoufs Cub Seoul Pack 8 Pack 8 committee will meet with the Den Mothers at 7:30 pjn. Thursday, Feb. 19, in the small gym at Jackson school. Plans for the annual Blue and Gold dinner will be discussed. POLICE REPORTER DIES New York;-flIPD- James J. O'Connor, 55, veteran police reporter for the New York World - Telegram and Sun, died Monday night after a long illness. Pencils of about 70 differ ent colors are available today. MAIL TRIBUNE, Medford, Oregon, Tuesday, February 17. 1939 S Examinations Told For Federal Jobs , JNew examinations for ge ologist and patent advisers have been announced by the United States Civil Service commission. The geologist positions will be for openings throughout the United States while the patent advisers are mainly in the Washington, D.C., area, it was reported. For application forms and further information contact the local office of the civil service commission at. the Medford post office. ANNOUNCE CASUALTIES Algiers, Algeria (DPD The French military command an nounced Monday that 532 Al gerian rebels were killed, wounded or captured in clash es with French security forces last week. French losses for the -week ending Sunday were given as. 27 dead. The rebel casualty list was not broken down. Jenny Lind, the famed "Swedish Nightingale." who won American hearts in 1850, was married to Otto Gold schmidt, a noted musical con ductor in Boston. lit y, ' rAOTrn nnniiMO i nurn oner rtioiLn uuuLifiu at umm uuoi t you get with new 1 (DlCfl lrprrm n . - , ii -m. -J m ii L if I if u u " " - ' 1 I 1 1 : B 1 liifllllTi ffl i I ... t I t - , I - ' i ' 'I ; j- LED 1 COMPARE BEFORE YOU BUY! SEE WHY TRU-COLD LEADS THE WAY-IN STYLE IN PRICE Costs less to operate Cools food faster Holds more uniform temperature Regains lost cold quicker Has larger door storage v Features automatic ice ejector Modern styling supreme with graceful sweepmg fines. The showpiece of your kitchen world '59 TRU COLD. Keep foods fresh and tasty days longer. Your family deserves the best protect their health and treat them to savory meals with the finest in refriger ation . . . TRU-COLD! ' SAVE $50! 12.8 cu. ft. A $379.95 VALUE FOR New 2 -door construction for easy access to eye level freezer that holds 101 lbs. Exclusive circulating CYCLE COLO. New Duracron finish. 329 95 MODEL AND MORE KWH ACT. USED CU. FT. USED KWH24 TRU-COLD CYCLE-COLD 3.2 15.8 , HQ 13 3.6 W5G 28 '4.1 MOi3.aR 41 5 REGAINS LOSS COLD QUICKER! (rime to regain 38 after 1 mm. door opening) MODEL TRU-COLD CYCLE-COLD MODEL F MODEL G MODEL R LONGER 100 233 300 MIM. LONGER 14 18 ACT. MIN. 12 20 24 lil'lWllI'M COOLS FOOD FASTER! Store Any Food Anywhere! (Difference in Temperatures in refrigerator (Time to cool beverages from 90 to 45) end door) MODEL DEGREES DIFFERENCE MODEL LONGER HRS. LONGER ACT. HRS. CYCLE-COLD 1.5 TRU-COLD 3.2 ; CYCLE-COLD M0DELF 2 0 MODEL F 82" 2.5 5.7 MODEL G 5.8 MODEL G 123 3.8 7.0 MODEL R 10.7 MODEL R 106 3.4 6.6 219.95 VALUE-9.1 CU. FT. . Save $40 on Wards budget priced TRU-COLD. Costs less to operate than comparable mod els, cools food faster. SAVE $70! 369.95 VALUE 17995 Generous 1 1 .8 cu. ft. size that holds more uniform temperature ana gains lost cold quicker. Exclusive CYCLE-COLD. 29995 429.95 VALUE-SAVE $60! Big family size 12.8 co. ft. Freezer holds 101 lbs. New meat keeper and beverage decanter. A- OCQ95 tomatic ice ejector. OOv SAVE $70! 499.95 VALUE Huge 14 cu. ft. with giant freezer that holds 161 lbs. and is located below for convenience. OQ95 2 porcelain crispers. tfcH EfflB A I tru-cold i nm mm mm