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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (July 8, 1959)
Stock Splits Seen Heading for New Record By ELMER C. WALZER UPI Financial tailor New York (DPD - Stock splits are heading for. a new record high in 1959. For the first half, Stand ard & Poor's lists 158 split up s already authorized by s h a reholders with 16 more waiting ap proval. fa, t Elmer Wmlzar Disappr oval it would be is so rare that safe to add those IS to bring the total to 174 to date. That figure beats any full' year except 1955 when there were 181. Thus we have only tight to go to get a record. Aemican Telephone & Tele graph's thretf-for-one split, approved by its stockholders April 15, accelerated the split ups which also were helped by a stock market climate of bullishness seldom witnessed. The telephone company's action after years of turning thumbs down on spiltups, "took a lot of wind out of the sails of split opponents," says the "Exchange," monthly magazine of the New York Stock Exchange. Never Split Before Telephone never had split its stock before. And when it suddenly took Wall Street off its feet by announcing direct or approval of a big one, the speed of splits mounted. Frederick R- Kappel, presi dent of American Telephone, noted in his annual report to stockholders, that the split would make a wider market for shares of the company. TJae split and an accompany ing increase in the Telephone dividend of 10 per cent were seen as strengthening the company's position for the large amounts of capital need savings for K1 everyone ; DRASTIC REDUCTIONS . . LADIES BOUFFONT PETTICOATS Bouffont nylon All sizes and colors. 50 yd. sweep. $4.95 value LADIES DRESSES - Spring and early summer styles. Sleeveless and short sleeve styles. Values to 8.95. S C 88 Sizes 9 to 15, 10 to 20, and 14'a to 2414-1 - PILLOWS Our regular 1.98 pillows. Crushed feather. Floral pattern ticking for a cover $144 Special ..:.......... . .. .. YARDAGE Drip dry cottons, fancy rayons, suitings, embossed cottons, crinkle crepes and others." Hundreds of yards of fine materials. . PRICED TO CLEAR LADIES PEDAL PUSHERS All the wanted colors in' sizes 10 to 20 . LADIES BATHING SUITS latest styles for the larger Sizes 38 to 44. Assorted LOOP RUGS Colorful loop chenille bath mat rugs. Non-skid rubberized back. 9 different colors. 1.00 value ... GIRLS PLAY CLOTHES Shorts, Halters, Pedal Pushers, Blouses. Sizes 3 to 6X, and Values to 3.49. Now .. PEQUOT SHEETS America's best known brand. Single, double bed, and fitted. Twin and double bed size. Also Pillow Cases DRASTICALLY REDUCED LITTLE GIRLS DRESSES rayons.. Sizes 12 months to Values to 3.98 .... tr&? ed to meet requirements for telephone service. Thus the nation's biggest business enterprise put its stamp of approval on stock splits after years of taking an opposite view. The change, it is hinted, came when the .records showed a slipping in Hhe number of stockholders of this giant company. MEDFORD 2nd SECTION 4-H Club Desert Pegasus The Desert Pegasus ' held their regular meeting at the Eagle Point itigh school July 4 with Harlin Stinson pre siding. We ..discussed the pre-fair, the Whiskey Springs trip, and Mr. Dunn asked how many wanted to go to Coos Bay July 11. The meeting was then ad journed until parade time. Norma Noble, one of our charter members, was crowned queen of the day at ceremonies which preceded the parade. Our club won first prize in the Mounted division of the parade. Second prize in this division , went to Pegasus parents, Mr. and Mrs. John Noble and Mr. ad Mrs. Greenwood, who rode dressed in old fashioned clothes. Our assistant leader's daughters, Dolores and Alyce Krambeal, won second in the Kiddies division. At the Pegasus sponsored Play Day which followed Laura Mae Noble placed first in the Junior Texas Barrel race, Dale west took second, lit OPEN MONDAY NIGHTS TILL 9:00 P.M. .... Heavy topsail pedal pushers. $398 Just arrived. Big new shipment. Very woman. &T70'5 ; colors. 7 to 14 Q Q 88 $244 . to Fancy spring and summer cottons and 3X. 166 to$227 Gmfl American Telephone holds the record for stockholders -a total of 1,630,000 of them. It wants to hold top place and took the stock split way to keep its record, the gossips assert. Regarded As Bullish According to Sandard & Poor's stock splits usually are regarded as bullish, even MEDFORD, OREGON, WEDNESDAY, JULY 8, 1959 News Regina Krambeal, third, and Richard Anderson, fourth. In Senior Barrel Jim Acker man took first; Jerry Rodgers, second; Carolyn Hackney, third; Bennie Sutton, fourth; and Roy Moore, fifth. The adult Barrel prizes went to Jim West, first; John Noble, second; Vera Mat thews, third; Ray Chamber lain, fourth; and George Arn old, fifth. In the junior Scurry race Regina Krambeal took first; Dale West second; Laura Mae Noble, third; Richard Ander son, fourth. In the Senior Scurry Race, Bennie Sutton took first; Carolyn Hackney, second; Ronnie Anderson, third; Jim Ackerman, fourth; Jerry Rodgers, fifth. In the adult Scurry Race, John Noble took first; Jim West, second; Ray Chamber lain, third; George Arnold, fourth; and Vern Matthews, fifth. In junior Pole Bending, Dale West took first; Laura Mae Noble second; Regina I BARGAINS petticoats. J : "u ll W b Ill UW - CHILDREN'S 5 to child's MEN'S SPORT SHIRTS small and medium only. 1.98 value. Your Choice argyle and Sizes lO'i 64 full sized, Self striped Slim Jims, Sizes 6V4 to though the stockholders equi- t yis unchanged. The big rea son for this is the one Ameri can Telephone give - "The proportionately reduced price places the stock within the reach of a greater number of investors, leading to greater activity." Standard notes that a split frequently is accompanied by Year's Pear Crop Can Up to 3,300,000 boxes of Bartlett and winter pears can be held in cold storage in the Medford district with the ad dition of recently constructed facilities, an industry source reported today v Four new storage plants have been added with a com bined capacity in excess of 200,000 boxes straight storage or 300,000 boxes during the full season, with a turnover from Bartletts to winter pears. New plants have been con structed by Nye and Naumes Packing company, Modoc Or chards, Del Rio Orchards, and Krambeal, third; and Richard Anderson, fourth. In senior Pole Bending Jerry Rodgers took first; Ben nie Suton, second; Ronnie An derson, third; Jim Ackerman, fourth; and Carolyn Hackney, fifth. In adult Pole Bending Jim West took first; John. Noble, second; Norman Stinger, third; Vern Matthews, fourth; and Ray Chamberlain, fifth. GALORE THONGS Men's, women's and children's thongs. All sizes, all colors. .' . Men's and Women's 55c , Children's .. .. LADIES CANVAS SPORT SHOES Reg. brands. Comes in white, red, tan, navy Narrow and medium widths MEN'S WORK SHOES Values to 8.95. Brown 6" toe work shoes. Cork and rubber soles. Goodyear welt construction. Sizes 6V2 to BAREFOOT SANDALS and red. Broken sizes form infants size size 13 MEN'S SLACK SOX 49c value. Spun diamond patterns. to 13 ... MEN'S, WHITE HANDKERCHIEFS white cotton handkerchiefs. pattern : MEN'S POPLIN WASH SLACKS poplin Ivy league slacks. Back buckle. Sizes 28 to 36 waist '. MEN'S SWIM TRUNKS Fancy boxer style or reversible styles. All sizes in stripes, $194 ' $088 plaids, and prints I an MEN'S STRAW HATS Men's dress straws. Very newest styles and colors. COA CAfifi 7Vs ... High During Year an increase in the cash divi dend, and splits draw atten tion to the growth of a com pany. Splits come when the stock market is rising. Candidates, Standard finds, are, those stocks in the area of $75 a share. More of them come in the first half of years than in the Tribune Pages 1-6 Be Stored Here Myron Root and company, all of Medford. It was stated that a normal year's crop can now be han dled within the district with no need for securing cold storage space outside of the area. Man Pleads Guilty; Fined $105 in Court Carl Hogan Blair, 43, of a Court st. address, received a $105 fine or 30 days in Jack son county jail Monday after pleading guilty to an assault and battery charge in district court. Blair was arrested Monday afternoon on Front st. after police received a complaint from Arthur Winston Moore, 602 Hewitt rd., that Blair had struck him on the jaw in front of the Medford Gospel Mis sion, 33 South Front st. The world record for the most rainfall in a single day is believed to belong to Bag uio in the Philippines. The day's total was 45.99 inches. SAVE NOW! .... ..... .. .... 45c 3.98 values. Famous name and black. $088 top, plain 11 $C88 J Values to 2.98. White ' 44 1 Short sleeved sport shirts in sizes 99 cotton slack sox. Fancy ) 1 W I 15c value. F-irst quality, Ck4 , Jr 4.95 value. Tan hi-sheen ..... $394 and Here Are Just A Few of. the Many Items On Sale -Now! COME III -SEE! second because many com panies like to seek stockhold er approval at the annual meetings -which generally come early in the year. However, special meetings can do the trick if directors see fit to suggest a splitup, and the number of splits could be large on the basis of high prices in the market at this time. Candidates for Spliiupt Standard-Poor's lists many issues as candidates for split ups, including such companies as American Machine & Foun dry, Brunswick Balke, Coca Cola, Corning Glass, Fire stone, General Foods, Good year, Gulf Oil, Ingersoll-Rand International Salt, Litton Industries,- Merck, Minneapolis Honeywell, National Lead, Motorola, Norwich Pharma cal, Texaco, Union Carbide, U.S. Gypsym, U.S. Steel, and Western Maryland. Most of the splits so far this year were 2-f or-1 or 3-f or 1. There were several larger ones, notably 20-for-l for Inter-county Title Guaranty and Mortgage 12-for-l for Gar den State National Bank of Teaneck, N.J. Several had 10-for-l splits, including Ang lo Scandinavian Investment, Energy Fund and Great West Saddlery. Pacific Telephone paid 100 per cent stock dividends in the first half. These are tanta mount to 2-for-l splits. Stock splits have a tend ency to feed out a bit of stock to the market which is hungry for additional shares since some of the holders . often elect to sell a few shares after a stock split. The Family Council Editor's Aote: The Family Counci consists. ol a. Judge, s psychiatrist, three clergymen, a newspaper editor a women's editor and two writers. Each article is a summary of an actual report. The Family Council does not give advice; it merely report on pioblems that have been dealt with by responsible acencier and counselors. Joan D. We can't afford to try to get his child. . Douglas D. Why adopt somebody else's baby? Joan D. My husband and I have a terrible problem that is plaguing us night and day. We have been married six years and have no children and have been informed that there is very little hope for us. Of course, we are quite unhappy about this. I would like to see about adopting a child, but my hubsand has other ideas. You see, two years before we married he had an illegit imate child. The boy's mother was a Europeon girL and he left her to marry me as we were practically engaged at the time. He wants to get this child and believes that the child's mother, who has since married and has children by her husband, would like to have this boy brought up as an American. I don't think she would ever consent and we can't afford all the expense involved in trying to get this child. . Douglas D. Why should we go out and adopt somebody else's baby when I could have my own child? It just doesn't make sense. I have good reason to be lieve that my child's mother would like to, be rid of him. Twice after I came back home she got in touch with me ask ing me to take him because the man she wanted to marry didn't want the child. I told her it was impossible because at that time I Had not yet told Joan about all of this. I am sure my son must be a very unhappy boy living with someone who doesn't want him. I was only a kid of 19 when this boy was born and I was so frightened and mixed up I don't know what I was doing, but now I under stand what it meant to have a son. I don't care if we have to go up to our ears in debt o get the boy. We can do so much more for him than his mother. , The Council: Douglas seems to have a strong streak of cruelty in him or possibly a simple selfishness that com pletely blinds him to the feel ings and needs of others. He deserted a mother and baby when they needed him most and he would now tear them apart because it suits his desires of the moment. Nor does he give the slightest con sideration to the feelings of a wife who might possibly be a little sore on the issue of her childlessness. Douglas may or may not be aware of the fact that his big interest in his lost child at this time appears to be a state Vehicle Safety Code Hearing Scheduled A public hearing to discuss a proposed safety code for ve hicles used to transport work ers to and from work will be held in Medford at the court house auditorium Tuesday, July 14. The hearing will begin at 9 ajn. and will be conducted by Vern L. Hill, director of the Oregon department of mo tor vehicles. A tentative draft of the code, which contains stand ards for safe operation of such, vehicles, is now avail able upon request to the de partment. The draft has been developed with the coopera tion of the state . industrial accident commission. The 1959 legislature enact ed the measure calling for the department to establish a safe ty code for vehicles used to transport workers. It was an outgrowth of an interim com mittee study on migratory labor. Other meetings scheduled in connection with the code are in Redmond, Pendleton, Hood River, Ontario, Klam ath Falls and Eugene. COSMIC CONFAB OPENS Moscow (DPD - A 26-nation conference on cosmic rays opened here yesterday with statemnts by Russian, Ameri can and Japense scientists. Dmitry Skobeltsyn, a member of the Soviet Academy of Sci ences, called advancements from cosmic ray research "the decisive influence in the amazing progress of nuclear physics over the past few decades." ment to himself, his wife and to others that he is not the responsible party in their fail ure to have children. This is not necessarily the case, but it is an easy assumption for others, and Douglas may want to play it for what it is worth. What to do? It is certainly difficult to decide. The boy should certainly not be foist ed on Joan if she doesn't want him and she should speak up strongly on this score. How ever, it is Douglas' moral re sponsibility to try. to find out what has become of his son. The boy may have found a very satisfactory home by now, but if he hasn't Douglas ought to do something about providing a better life for him. When and if Douglas learns to love unselfishly he will know that he can give richly to "somebody else's baby" and. that unless he can love un selfishly there is little of real value he can give his own boy. (Copyright 1959 General Features Corp.) Afrikaans Letter Is Disappointment Philadelphia (DPD What would you do if you received a letter in Afrikaans? A Philadelphia woman did and, naturally, she couldn't read it, nor could anyone else she knew. So the woman turned to the translation department o f Philadelphia's Foreign Trade Bureau, a little-known organ ization whose main job is to assist business firms that are involved in foreign trade. One translator, for example, once worked three months on a 200-page technical manual in Spanish for an oil firm in Pittsburgh. James R. Ballantine, man ager of the Foreign Trade Bu reau, ' said that much of the translation work is handled by members of the depart ment staff but some has to be farmed out. That's what happened to the letter in Afrikaans receiv ed by the Philadelphia wom an, who thought it might have announced an inheritance. It turned out to be a plea for funds. TV FRENCH LESSONS Boston - (UPD - Nearly 60,- 000 Massachusetts elementary school pupils will take part in a tnree-year pioneer tele vision course in French be ginning in September. The Massachusetts Executive Com mittee for School Television said the French series will later be filmed for national distribution. Two 15-minute lessons will be viewed each week by children in the lower grades. 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