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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (July 1, 1959)
i ; i i i! ! r 4 ! ft. M 'V. X, ' PATRIOTIC REFLECTION: Douglas Barry, eight, of Piedmont, Calif., was attending a picnic in San Fran cisco's Golden Gate Park recently, when photograph student Lois Hennessy spotted the reflected image of Douglas and flag in a rain puddle. With the aid of Doug las' mother, who hummed the National Anthem for the impromptu "ceremony," Lois snapped this interesting Independence Day picture. Local Airman Receives Award Ray W. Dahl, an airman second class in the United States Air Force, has been pre- Hew Fixlureslor Hillcrest Ordered Salem-HUPD-The State Board of Control has ordered new lighting fixtures for Hillcrest school for girls in .the. wake of a charge by Gov. Mark Hatfield that the old ones could be used as weapons.' Architect E. G. Harrington, Portland, said the metal fix tures at Hillcrest were design ed to keep the new building's rooms from looking too much like a prison. The governor criticized the; fixtures at last week's board! meeting. Cost of the change will be about $580. sented a plaque and $50 for an essay submitted to the Free dom Foundation.' According to information re ceived her by Airman Dahl's family, the award was for an essay on "My Part in Winning Friends for Freedom." In the essay the airman wrote of his experience while stationed with the USAF in Korea and where he organized classes in English for Koreans in nearby villages. The young man entered the Air Force in January, 1957. He is a graduate of Phoenix High school and . is a son of Mr. and Mrs. R. W. Dahl, Phoenix. His wife is the form er Marlene Burelson,' daugh ter of Mr. and Mrs. Donald E. Burelson, 2201 Skyview dr. Medford.' The Dahls and their daughter, Pamela Rae, are now stationed at the Air Force base at North Truro, Mass. n Some Stock Speculators May Be Taught Lesson the Hard Way r 74 fj b p Elmer Wtlnr By ELMER C. WALZER UPI Financial Editor Nfew York-(UPD-Speculation is growing rapidly in stocks to the point where some of the r- new speculat I ors may be I taueht lessons the hard way, two Wall Street experts warned today. Rudolph L. We i s s m a n, economist, and L. O.' Hooper, analyst, for W. E. Hutton & Co., write on this "Stock Market Fever" in the current "Challenge" mag azine, published by New York University's department of ec onomic affairs., "Therei is a real danger that the 'new generation of speculators who never have known adversity may become too confident," they assert. "In some cases, prices have already exceeded corporate price-earnings ratios, and fu ture prosperity has been dis counted further ahead than is safely predictable. ' . Speculators and gullible get-rich-quick buyers of com mon stocks may have to learn that capital gains and growth cannot be relied upon to oc cur with monotonous regular ity week after week.' Want 'Quick Killing' They find speculation in this generation is no different than it has been in. the past. speculators only want a "quick killing." . They care nothing for com pany, earnings, financial con dition, dividends, management prospects. . The two experts have noted a growing number of invest ors abandoning their usual caution; people buying stocks who never bought before; wealthy, turning from invest ments such as tax exempts well-suited to their portfolio to common stocks to "get on the band wagon" and to hedge against inflation. , Odd-lot purchases have ris en. Market volume has gone up with the turnover, of shares listed reaching 20 per cent for a time this spring. Brokers loans are up. All these, say the experts, reflect speculation. But this speculation is dif ferent from that of 1929, it is noted. Excesses now seem to be concentrated on less im portant industries contrasted with the blue chip speculation of 30 years ago. It's the elec tronics and space age stocks at the present time. There are many other dif ferences between this market and the one of the late 1920s. Attitude More Intelligent Here is how the two finan cial experts describe the situa tion: The attitude of the finan cial community is more intel ligent. ... Brokers loans are much smaller than they were in the fall of 1929. "With the present margin requirements of 90 per cent fixed by the Federal Reserve Board a debacle similar to October-November, 1929, does not seem possible." Short selling is regulated now and so are operations of specialists and floor traders. The Securities and Ex change Commission and New York Stock Exchange are more vigilant. - ; Industry is much sounder financially. Accounting prac- BuzSawye Taken Seriously New York-People who read Roy ''Crane's "Buz Sawyer", which appears in the Medford Mail Tribune, take it seriously- , ' Proof is current sequence in which Buz and one of his pilots named Boom-Boom, who goes hay-wire in bad weather, took off from the carrier "Gettysburg' on combat air patrol. The tactical air navigation al system-nicknamed "Tacan" -which gives a pilot his bear ing and distance from the carrier conked out in Boom Boom's plane just as bad weather closed in. When this " installment ap peared, one of the companies that makes some of the Navy's navigational and radio equip ment , immediately . wired! Crane that it was flying , a'j field service engineer to the -I "Gettysburg" to find out why j the equipment malfunctioned, j . And concerned over Boom-: Boom's plight, it also suggest ed he use his ultra-high fre quency direction finder to get a radio bearing on the carrier. But by then Crane already had helped Boom-Boom out. i Now. he's waiting for ari of fer from a doctor or psychia trist on how to cure Boom Boom's bad weather bugaboo. tices are sounder. "Here and there exuberance is leading to some doubtful practices, but in the aggregate they are not of great signifi cance." Speculation Was Poison - The writers note that after the 1929-32 bust, speculation in stocks was poison to the general public which wanted no part of share ownership. "For the past 12 years, however, the ownership of stocks has been highly profit able, and they have become the most satisfying experience an acquisitive person can have," they assert. Weissman and Hooper be lieve the rate of turnover of the market will have to be much: more rapid before the boom in speculation causes severe damage. ' "Up to now," they conclude, "permanent stock ownership has proven to be more profit-1 A it i.,:.. i saw. Hill Military Academy Head Dies Portland-UPD-Joseph A. Hill, 79, head of Hill Military academy in Portland for more than 50 years, died Tuesday. . Hill had been head of the academy since 1908 and saw the institution's enrollment reach an all-time high of more than 200 students during World War H. Hill was a graduate of Yale university and West Point. Benson Reiterates Surplus Food Stand Bonn, Germany-dJPD-Secre-tary of . Agriculture Ezra T. Benson reiterated Tuesday that U.S. surplus farm pro ducts deals with underde veloped countries do not con stitute dumping in any way. "Apart from our aid to these countries, we are preserving existing and even developing new commercial markets," he able than speculation, and un less the regulatory authorities and the financial community abandon their . policies com pletely, any shakeout in the stock market probably' will not set forces into motion that would seriously impair the proper functioning of the economy." - Benson, in Bonn for a two- day semi-official visit, made the statement to reporters be fore, he saw officials of the German Agricultural Ministry for an informal discussion of U.S.-German trade problems. About 1,700 species of plants are found in the Arctic. r A si I JAZZ MASS: The third American performance of the "Jazz Mass" is shown being performed at the Trinity Episcopal Church in San Francisco, Calif. The Rev. Alan Humrickhouse (standing), complimented the jazz trio for their fine job. They are: (left to right), organist Hal Shutz; Rev. Humrickhouse, drummer Tod Fleming. At right, but not shown, sits trumpet player Bob Scheil. Over 1000 parishioners jammed the church to hear the modern version of traditional hymns and liturgy which was composed by a London minister and titled, "A 20th Century Folk Mass." a9 MAIL TR1IUNE, Mtdfoni, Or. Wednesday, July 1, 1959 90 Million Meteors Daily Cambridge, Maass.-(Science Servicce-Ninety million me teors bright enough to be seen under good viewing condi tions enter the earth's atmos phere each day, two scientists have found. . Using photographic observa tions of "shooting stars, they determined the rate at which the earth's atmosphere at a height some 270,000 feet above the earth's surface is being bombarded by meteoric particles. This is more than five times as high as jet planes pow fly. Meteors belonging to major meteor streams were not in cluded in their photographic survey, which was made with Baker Super-Schmidt cameras operating in New Mexico. These results of Drs. Gerald S. Hawkins and Edward K. L. Upton of Harvard College Ob servatory here are now being circulated among astronomers around the world. The Republic of India pro duces three-fourths of the world's supply of sheet and block mica. India also has workable coal resources esti mated to total 20 billion tons. Tuberculin dairy herd test ing was introduced, in 1890. PMC Wholesale Prices of Carpets Going Up July 1st Take Advantage of These Money Saving Prices! . Mohawk Famous Trendrex ..$10.95 yd. Firth Private Tweed 6.95 yd. Tan 100 Nylon 4.95 yd. Viscose Tweed with rubber cushion....... 3.99 yd. Viscose Tweed - - 2.99 yd. Be Sure to Buy From Your Floor Covering Specialists! Remnant JSnds and Used Carpets SOT FLOOR COVER SHOP 709 So. Riverside SP 2-7376 S&H GREEN STAMPS all materials on "II " . : : : T .1 dJS Campbell's 28-oz. fwM IPoirEi & Yearns kgs0 tD for U KiwfLJj a . i yFtrA U V ZEE V CLOSEDSATURBAV;.'' JULY 4fh! finite FOR ORANDl f - GLORIOUS MEALS! Strauss Choice Guaranteed Meats Mi HORMEL BRAND Popular Package of 12 Wieners 4 okas. XII" m Armour's or Hormel's Canned PICMICS- 3 ib.. 31 08 Fancy Vh. to 3-lb. Average FOYERS:'" Aged Right -Well Trimmed RO Country Style Lean LPoirCx Saiflsage 55 SWIC Ml ZEE PAPER WRAP-WHITE & COLORED - 80 COUNT Prices Effective ' Wed., Thurj. and. Friday Only 1 ea CU30L72E F5 pleasure) measure Reg. or Drip Lb. Tin Sreinfeld's 15-oz. Tiny Kosher or 22-oz. BenneviH Sweet 0) i - i I IPICKLB LJ SPERRY HFaoca1(e 3fe LAURA SCUDDERS PoMo Chios u Mr Mb. Box Over 1.00 VALUE MCP 6-OZ. SIZE IFRGDZEN ILElWrWE LINDSAY MEDIUM RIPE IPDTTEID LDVES No. 1 TALL CAN for 1100 Lots of Free Parking 2 Big Lots AT THE REAR OF THE STORE! ... PAULSEN'S . . . CENTRAL POINT, OREGON Closed Every Sunday We Reserve the Right to Limit Quantities TENDER SWEET Aw RADISHES or green onions buns. Large Solid Heads LETTUCE Red Haven IPEACIH1ES ibs. 2w Long Green Slicing Cucumbers ea. 2)c
