' Gold mining In South Af
rica has reached depths of
9,000 feet -below the earth's
surface, believed to be some
thing of a record.
, Oil and gas leases on public
lands - of the .United States
bring an annual income of
about $35 million to the fed
eral government treasury. ,
Price 1 0 Cents
54th Year
- Under the- federal home-1
Parent-Teacher groups had In Curacao and Aruba, le-
their origin in a national con- ands in the Netherlands West
gress of mothers which con- Indfts, the flourishing cactus
vened for the first time in plants keep animals out of the
Washington in 1897. yards.
stead act signed by President
Lincoln, about 276 million
Medfobd
TRIBUNE
acres of land have been deed
ed away to settlers.
2nd SECTION
MEDFORD, OREGON, THURSDAY, JUNE 4, 1959
10 Pages
Average Investor Reads Too
Much, Research Group Declares
T
ELner Walzer
Br ELMER C. WALZER
: UPI Financial Editor
New York - (UPD - The aver
age investor reads too much,
says Trendex Research Group
1 i, 1 I of San An-
I tonio, Texas.
What that
firm is com
p 1 a i n i n ing
about is the ir
revelant ma
terial being
read by some
invest ors
material
which makes
them lose perspective on mar
ket policy. f
Trendex advises: Don't
give a great deal of thought
to the steel strike situation;
watch probable moves'61 Rus
sia; don't , forget the Jrradle
East, and so on. It urges don't
concentrate on yesterday's
news; keep minds tuned to
future newpossibilities. -
Of course, that's what the
market always does - keeps
tuned tov the future. Actual
news often works just the op
posite of what one would ex
pect' because it has been an
ticipated, and discounted. -
Reading market material
can be, confusing because one
doesn't spend the tune on it
the news deserves. It needs
to be assimilated and mulled
over foe nuggets of informa
tion that will Help one in the
market.
Lookftg around for inter
esting items to read one comes
upon the wetkly letter by Ed
mund W. Tabell of Walston
& Co. -
"I sgll feel that the ulti
mate objective oi the indus
trial average is around 800
before a decline of much im
portance occurs," says Tabell.
He would ignore the general
market and concentrate on
individual stocks. The worst
difficulty he can visualize at
the moment is a trading range
between 650 and 610 in the
Dow-Jones industrial average
' Standard Si Poor points out
that earnings are catching up
with stock prices It estimates
earningson its 500 stocks in
dex at $3.64 for 1959, against
a mere $2.84 for 1958; $3.28
for 1957, and $3.35 in 1956.
It estimates dividends on the
same group at $2.03 for th&
year against $1.82 for. 1958;
$1.86 for 1957, and $1.87 for
'1956.
Eldon A. Grimm analyst
for Walston & Co. believes
the steel shares on a trading
basis are headed higher,
whether there is a strike or
not. '
"The threatened strike in
mid-1959," he says, "seems to
be one of the most discounted
pieces of news in stock mar
ket history."
. Alexanaer Hamilton In
stitute in its "investment bul
letin" gives some advice not
seen in some time in the fi
nancial district.
That conservative group
suggests salting away some
stock market profits in higher
yielding bonds.. "Most bankers
and economists agree that
while bond prices may go
still lower," says the institute,
"the investor at today's prices
can hardly go wrong over the
longer term." . ;
Investors Advisory" Institute
suggests placing greater em
phasis on defensive issues
than heretofore in - making J
new, investments; In the de
fensive category,".' it notes,
"there are values which are
not overdiscounted at current
quotations." 4
-'Newsweek in. its coming
issue is carrying a bullish
item:. a'-:v.(. T- . ' ' .
- "A ringing vote v of con
fidence by U.S. industry is
evidenced in the latest News
week quarterly survey of cap
ital appropriations, conducted
by the National Industrial
Conference Board.
Expansion on Rise .
"Figures forthe first quar
ter of 1959 show the nation's
leading manufacturers ap
proved $2.6 billion in new
funds for expansion and
modernization, a 37 per cent
increase over 1958's $1.9 bil
lion." And now to get back to
Trendex which advises:
"Put the news in a hopper,
stir it, and this is what ap
pears: ,
"Metals firming even scrap,
industry showing fair firm
ness in .negotiations with
labor, yarn ,and textile de
mand is steady, many divi
dend increases, cost of bor
rowing also increases, states
search for new tax income
going after insurance firms,
tool and machinery orders in
creasing, consumer durables
selling well helps the loan
companies,- Federal Reserve
sees need for brakes on infla?
tion but market! ignores the
Fed, and the future continues
to show better prospects for
heavy, capital goods than for
light consumer goods.,;
"All this simply points', to
a need for investors and specu
lators to be realistic in their
choice of media.
I J' I JL I
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- You Pocket
SAVINGS
When You
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MARKET!
o)
MM
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Ideal for youratio, ergert r outdoor
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AnOGAlO
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Large 15-oi. Cans Reg. 4 for $1.00
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1
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DEEF CHUCK SALE
Roast
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For Barbecue .....
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Good for Swissing ...
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Grade "A" Thick Sliced
2 lbs. $1.09
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2 pkgs. 89c
ffchfoM&ctUlp) m iHiiWa: MXmzW taiUlJH
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