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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