Image provided by: University of Oregon Libraries; Eugene, OR
About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (July 2, 1959)
Wall Street Attitudes Vary On Inflation, Balanced Budget f V ; I X I at By ELMER C WALZER UPI Financial Editor New York ftTPD A new year began Wednesday - the new fiscal year for the gov ernment. This is sup posed to be the year of the balanced budget in con- ' trast with a fat deficit in the fiscal year which ended mid night Elmer Walzer June 30. A balanced budget is said to be a strong bulwark against inflation. It is a move toward a sounder dollar which even tually should make the treas ury's job of refinancing its debt easier. Can we get along with a balanced budget? Will the stock market rise if is doesn't have the incentive of infla tionary forces such as deficit spending? We have been worrying for a long time about high bond yields and low stock yields. Would we be happy if a re verse action should take place? These are questions Wall Street is asking right now. And they come on the heels of a long period of talking about a summer rally lifting stock prices to record highs. Inflation Bogey Tamed Economists have said recent ly that the inflation bogey has been tamed, if not licked. Martin Gainsbrugh, econo mist of the National Industrial Conference Board, has said that he is not as discouraged as some of his colleagues on bringing inflation under con trol. Dr. Sumner Slichter has said inflation is a problem of shrinking importance. The Journal of Commerce editorially finds small won der that the optimism about the end of the inflation is run ning quite high at the mo ment, but it questions if this optimism is not premature. The Journal finds that one thing stands out in bold relief at this time, namely, that the public has become increasing ly inflation conscious during the past year or so and is giv ing indications that it does not like this particular short cut to paradise. "This is an encouraging sign," . said the Journal. "It means that those of us who for years have fought a war on inflation - it could almost be called a crusade have not been entirely wasting our breath. Price 1 0 Cents- Medford 54th Year Tribune 2nd SECTION MEDFORD, OREGON, THURSDAY, JULY 2, 1959 Pages 1-8 In 4 M fM:- ,4-4 - J jf GRIM -FACED BUT FRIENDLY, U. S. elder statesman Bernard Baruch (L) and former British Prime Minister Sir Winston Churchill hold informal get-together in Lon don, renewing their long standing comradeship. Telephone Pioneers Form Local Chapter Clarence Bjork, 611 Normal avenue, Ashland has been elected first president of the newly - formed Crater Lake Council of the Telephone Pioneers of America. The Telephone Pioneers of Ashland is a service organiza tion of active and retired em ployees with 21 or more years of service in the telephone business. The Crater Lake Council in cludes Medford, Ashland, Klamath Falls, Grants Pass and Rogue River area. THRISTY New York - (UPD - A large steel mill could use as much as 500 million . gallons of water a day in its operation - enough to supply all the normal daily requirements of a city of several million people, a 20th Century Fund survey found. Other new officers who will serve with Bjork are Henry Halvorsen, vice president, 745 Marshall ave., Medford; and Mrs. Lola Boomer, 933 Dakota ave., secretary-treasurer. Bjork and Halvorsen are plant department employees of Pacific Telephone while Mrs. Boomer is employed in the traffic department. DEATH RATE DOWN Washington - (UPD The na tional traffic fatality rate has been declining steadily for two decades from 12 deaths per 100 million vehicles in 1941 to an all-time low of 5.6 in 1958, the government re ports. The Bureau of Public Roads says the greatest num ber of traffic deaths for one year was 39,969 in 1941. That figure has not been touched since then despite the fact that total mileage driven has doubled in the past decade. "As a matter of fact, top administration leaders, led by the President himself, and the Federal Reserve Board mem bers did a fine public rela tions job on pointing up the evils of inflation." The Journal thereupon warns against the dangers of relaxing too soon in this fight. Inflation, it notes, is not something one can talk about in terms of a "dead duck." It may be only dorm ant and either or both its manifestations overstrained government credit or exces sive wage and price pressures - can appear again in the near future or at some later date. Public Gets Into Act, Regardless of what is ahead on the market or business lev el, it appears as if we are heading into a balanced bud get, that the treasury will again be able to pay the go ing price for its long-term bonds, that deficit spending is temporarily at least in limbo, that there will continue to be pressure against price increases, and that the public is getting into the act against inflation as a cure-all for the economy. It's just possible that the stock market could rise on sound money as it is for it to rise on unsound money. The type of investors is such that sound money would be an in centive for them to. invest in good dividend payers. The fringe speculators might elect to sell - and if so the investors would have more stock to buy. Check Received for Basic School Fund Jackson county received a checkfor $100,334.65 this week from the basic school support fund, according to County Treasurer Karl Jan ouch. The money is to be appor tioned among the various school districts on the basis of average daily attendance. The largest amount $43,873.95 will go to the recently con solidated Medford school dis trict, 549. The school districts and the amounts to be allocated in clude Phoenix, $3,546.27; Ash land, $19,589.68; Central Sprague River Man Fined by Court John Arthur Atchley, Sprague River, Ore., was fin ed $105 and received a sus pended jail sentence Tuesday in district court for assault and battery. He pleaded guilty to charges of striking Earl D. Bennett about the face and head with his fist. Atchley had appeared in district court on June 5, had pleaded innocent to the charges and requested a jury trial which was set for June 18. However, he failed to ap pear for the trial and sent Dis trict Court Judge Roy Bashaw a brief note saying he was busy in Klamath county with logging operations and would be unable to attend the trial. Bashaw ordered forfeiture of his $105 bail and issued a warrant for his arrest. Point, $16,150.85; Eagle Point, $2,338.84; Talent, $3;643.47, Rogue River, $3,812.20; Ap- plegate, $680.99; Prospect, $413.94; Evans Valley, $210.28; Butte Falls, $241.31; nnenurst, Sisa.ua and non- high school districts $5,793.78 WOMAN DRIVER! Washington - (UPD Men get into fewer automobile acci dents than women, according to a newly published report by the Bureau of Public Roads. The report says the accident involvement rate for female drivers is about 18 per cent higher than for males in the daytime and 38 per cent higher at night. When pro-, fessional drivers are omitted from the comparison, how ever, the men are only slight ly ahead of the women. Goiters were recognized as a human affliction 2,000 years ago and were generally treat ed by sea salt, both eaten and also applied externally. Waters of the Great Salt Lake in Utah are said to be about 23 per cent salt in con tent. By contrast the salt con tent of the Atlantic ocean is about 3.5 per cent. x i BEWARE OF IMITATIONS LOOK FOR THE HAPPY UTTLl DOG FOPS IN QUALITY! LOW IN PRICE You'll II like... ) CHINESE COMBINATION DINNER tender fried shrimp chow ntfin perk fried ric. QUICK FROZEN HEAT 'N' EAT Saturday July 4 8:30 till 7 0PEN Sj ' ' FINE FOOD ffflflJIES Potato chips BLUE BELL -LARGE . FAMILY-SIZE BOX 7 f Reg. 59- ( . ONLY LT U if 2330 Crater Lake Ave. Phone SP 2-8188 Ad Prices Effective Thurs. Evening, Friday, Saturday and Sunday, July 2, 3, 4, S Wi rerv the right to lim it quantitiai subject to stock en hand. Store hours! Weekdays 8:30 to 9:00j Sundays: 10:00 to 7:00. WE GIVE & GREEN STAMPS liiteiiltoii Ripe, Juicy, Delicious All No. 1 Extra Fancy Green Skinned Melons. No Stripes! I 5rS?-1 1 DELICIOUS, FROZEN DESSERT -CHOCOLATE, VANILLA, STRAWBERRY Full Vi Gal. mm SNIDERS OR JORGERSENS ALL FLAVOR Full 2 Gal. CantaDoupe Sweet, Ripe Golden Beauties Pride of the Patch I Sweet Corn Large, Tender Ears Fresh From the Stalk IPorlk & (Beans Van Camps 300 size Cans $1 InJ&rfs (Fruiiuti CocCrtaDu Applesauce Dundee 300 SIZE CANS Reg. 27' ea. fl Cans LI (FirozeoD ILeDDioiniade Tip-Top, 6-oz. REG, 2 for 29 11. Can 303 Cans Reg. 2 for 29c 0 FLUFFO SHORTENING BW Bev R0) WR q)(P Soran's 1 The Best Fryer Buy of All! I luT3SB') I Ready-To-Eat fVwwJ Any size Cut Center Slices W - BACON "A" SKINLESS W 1 6 tierS Thick Sliced 555 Armour's CRfRf 2 ib. $1 09 CSa Star Vy gS PKG.W)J GROUND BEEF ; All Meat T WORRELL'S 4) GQt l 3 lbs. $1 ?9 11 ALL MEAT Pk9- O j lb. Can 89 0 iOB.IL PICKLES Evergreen FULL QUART Shop at Grandview for all your holiday needs! You'll always find the larg est variety ... the finest quality . . . and the lowest prices! And . . . don't forget S&H GREEN STAMPS on all your purchases! TEF.1T LUNCHEON LOAF 12 oz. cans 39c VIENNA SAUSAOE, Hormel's bp qualify .2 can, 49c DUNDEE CATSUP, 18 oz. family size bottle 2 f 49c DUTCH MAID MARGARINE 6 lbs. SI. 00 WHITE KING "D" Giant package 59c SEA GLORY TUNA, grated, y2 flat cans. ...... .4 $1.00 WESSON OIL pint 29c
