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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (June 19, 1959)
12 MAIL TRIBUNE, Mtdforrf, Or. Fridir, June 19, 195.. Wall Street Experts Anticipate Moon Shoot in July and August Br ELMER C. WALZER UPI Financial Edilor New York-IEPD-Several of Wall Street's top experts are anticipating a stock market moon shoot in July and Aug ust. They don't call it a moon shoot. To them it'ssummer rally, a tradi tional market movement for most years in market his tory. Rockets to Hair wiier be used for the trip, according to the guesses nzht now. are trie best ve hicles the market has-its bluest blue chips. The chances are the moon won't be hit. But if the ex perts are right in their pro jections, the market will come as close to the moon it has been in its history which dates back to May 17, 1792 when 24 brokers drew an historic agreement under a button wood tree in Wall Street. Conservative L. O. Hooper, analyst for W. E. Hutton & Co., writing in the current Forbes Magainze, believes we are going to have a rising .stock market this summer I with the good stocks in the lead. He believes the Dow-Jones industrial average could easily get over 700 by the end of August, "perhaps as high as 750." V Record Sat in May The best level that the clos ing industrial average ever at tained was its close on May 29 at 643.79. A 100 point rise would be more than 15 per cent above that level and more than 16 per cent above the current leveL Several other analysts join Hooper in looking for a sum mer rally. Ralph A. Rotmen, analyst for Harris, Upham & Co. finds the market has risen an aver age of 13 per cent from the May-June lows to the July- September highs in the past 20 years. He looks for a furth er intermediate correction be fore a summer, rally gets started. Some of the experts who go along with these two base their predictions on an anticip ated new demand for common stocks that will be generated in the sale of various annui ties which are in the process of being launched. 600 New, Recent Books On Display in Ashland Ashland - Books that edu cators often feel are basic to the whole teaching-learning process are included in the collection of 600 new and re cent books on display in the Southern Oregon college li brary of children's literature ' until June 26. Visiting hours, excluding Saturdays, are from 9 a.m. to noon and from 1 to 5 p.m. daily. The collection, according to Miss Myrtle Funkhouser, li brarian, appears in some 31 subject categories. and covers all grades from kindergarten through high school. A special feature of the ex hibit is an annotated, graded, indexed catalog which lists by grade every book in the collection, and which is avail able for free distribution to teachers, librarians, and oth er school people. By numbering the books and the catalog correspond ingly and providing complete subject and author indexes, the exhibit's 600 books are, in terms of any interest-Tead- ily accessible. Subjects in volved in the collection range from arts and biography to science and religion; from ad venture and aeronautics to picture books and social studies. The fiction repre sented divides into no fewer than 15 sub-categories. Sponsored by Books on Ex hibit, a national service oper ation involving the country's leading publishers ; of chil dren s books the purpose is to provide teachers and li brarians with an opportunity to see and examine the best of the new library books,, with a mini-mum , expenditure of time and- effort, and thus make it possible for them to do an informed' and intelli gent job of selection. It is generally agreed that I the recent sharp rise in corp orate earnings to a record rate, higher dividends, and an ticipation of more dividend increases to come have made many stock prices respectable, i Also, some excesses have been squeezed out of the mar ket, notably those that came into, the so-called glamor shares Strike Threat Minimized No one seems to be worry ing about tight money or about strikes. Each of these, it is noted, is an accompaniment of prosperity. You don't have strikes in a recession, and you don't have a demand for mon ey that sends rates up except in prosperity. Assume that the market ac complishes its goal of a sum mer rally during July and August, .what then? That's seen as a difficult question. One thing to guide guessing on that subject is the fact that a big rise on top of present prices would leave the market in a vulnerable position to profit-taking. Market men note that the list hasn't had so much as five per cent , decline in a long time. There have been declines of 10 per cent or more in bull markets of the! past. . Some declines in bull -move ments have gone as far as 25 per cent.When and if the 700- mark is attained, many of the experts wouldn't be surprised i to see a decline of 10 to 20 per cent betore order is restored. Such decline would surprise a lot of traders in this market who have never seen a real market setback. ; ''CLOSE-OUT! Ui Easy Chair-Set iSt 7207 lj Bluebirds of happiness . . . fun O crochet in pineapple design combined with a lacy center.-Make a chair or buf fet set. - - Pattern 7207: crochet direc tions for chair set in No. 30 mercerized cotton. Easy to do; so pretty in white or pastel. Send Thirty-lira cents (coins) for this pattern add . 5 cents for each pattern for ; lst-class mailing to Medford 'Mail Tribune, Household Arts Dept., P. O. Box 168,-Old ,: Chelsea Station, New- York 11, N.Y. Print plainly NAME, ADDRESS, . PATTERN. NUM BER. Our 1959 ALICE BROOKS Needle era ft Catalogue has many lovely designs' to order: crocheting, knitting, embroid ery, quilts, dolls, weaving. A special gift, in the catalog to keep a child happily occupied a cutout doll and clothes to color. Send 25 .cents for your Copy of the. book. ; ... City Judge Named By Ashland Mayor Ashland Insurance man Kenneth Jones-has been ap pointed Ashland municipal judge with his term to begin July 1 and end Dec. 31, 1959. Mayor Richard Neill an nounced the appointment aft er a vote of city councilmen Tuesday night. The newly-appointed judge said that, while he was fa miliar with all the intricacies of the job, he believed thai with the aid of City Attorney Harry Skerry and former Judge P. H. Stansbury, he could learn to do the job required. Swimming Classes End at College Ashland-Swimming classes completed at the closing of the spring term at Southern Oregon college have been more successful than ever, ac cording to Dr. Ruth E. Bebber, associate professor of physical education, who instructed the course. Thirteen non'. -. swimmers learned to swim as beginners,' I Red Cross classification; 30 students earned intermediate ratings; 22 earned the swim mer rattng; 12 received the senior life saving rating: 18 semor life savers earned the coveted advanced ... swimmers rating; and 12 swimmers com pleted all the requirements for. the advanced swimmers rating but the senior life saver requirement. Much credit for the sea son's success was attributed by Dr. Bebber to the plastic bubble installation over the Twin Plunges pool which ruled oat the usual cold weather element, and her as sistants, Janice Burkhart, Her bert Bowman, Robert Sher wood, and Dave Vandell. Tennessee was part of the "Territory South of the Ohio" until it became a state in 1796. It is estimated that insects , nullify the work of at least one million men each year in this country. 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