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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Aug. 14, 1959)
Krushchev Visit Likened To Fifth Wheel for Stock Market K JHiSJk complex 1 1 &ZMU By ELMER C. WALZER UPI Financial Editor New York - (UPD - Sidney Durie, analyst for Josephthal & Co., likens the Khrushchev visit to a fifth v-X 3 market. 3f It o o m . thing new and add ed to the mar ket and for the market to worry about, he Elmer Walzer finds. Noting that it will be six or eight weeks before a bal anced appraisal of the visit can be made, he finds it's sig nificant that the fundamental evidence previously had indi cated the market climate was less exhilarating than it was a year ago at this time. Durie believes that the at tempted rapprochement could be the excuse for a natural, normal and healthy pause which was dictated on other grounds. For the long - term view, there's a bright side to the coin of peaceful co-existence, says Lurie. This apart from the probability that a whole sale or overnight revision of our defense program is most unlikely, he says. Peace Is Good Business ' Even if later events were to dictate a change, there would be compensations via the facts that: "1. A real understanding could provide a tremendous lift to foreign trade. The world is hungry for our goods and talents "2. A smaller defense bud get would pave the way for tax reduction and tax reduc tion is a more potent business force than armament spend- ing. Fundamentally, stocks are worth more in a truly peaceful world than in a world beset by animosities and tensions: Lurie notes that everybody isn't happy just now, "which means it's well to re-examine the four legs on which the stock market stool has rested Business trend This is the strongest of all the supporting elements. Consumers are buy ing. Capital goods spending is trending sharply upward and state and local government spending still is rising. Creeping inflation - This is seen as the weakest leg of the market stool just now. Lurie finds the defeatist philosophy that nothing can be done to stop the price spiral has dis appeared. Supply - demand equation -Demand is less pressing than it was a year ago because of the lessening of inflation fears plus higher margins and more stringent regulations. Also the inlit if 4 lT-l.l-OOe-lT'l ft Investment In Efficiency Industry's new operating ef ficiency - This, Lurie calls the science of professional busi ness management, evidenced by first half reports, the pay off for the $158 billions in- the past five years. Tight money may not be as great a threat as earlier ap peared likely, this market ex pert believes. If inflationary pressures lessen, there is less need for restrictive credit policies, he observes. "Defense is only one in eredient in the business stew," Lurie finds. "Witness the fact that defense spending declined $10 billion between 1933 ana 1955 but the economy never- 4ka1aee nrncnaral fin4 TMru gressed. "Ours is a dynamic economy which rests on many lets - such as a technological revo lution, the demands which will come from a rising rate of family formations in the 1960s, the good life. "Summer strength and au tumn weakness often have taken place in the past. But it's likewise " true that the characteristic of our new type market has been: (1) An abili ty to correct individual spec ulative excesses from within; (2) At the same time, demon strate demand for specially favored issues. That is why I have held - and still do - that there are individual oppor- Lower Jobless Tax Slated for Insured Firms Salem - (UPD - The State Em ployment Department predict ed Thursday that more than one-third of the 26,400 firms insured by Oregon's unem ployment compensation law will pay a lower unemploy ment tax in January, 1960. However, the reduction will be short lived, affecting one payment only. State law provides a reduc ed payroll tax for employers having steady employment histories, but only when the unemployment trust fund is above a certain floor and all insured employers were then required to pay a uniform 2.7 per cent tax. v Fund Higher This month the trust fund stands at $35,671,000-a figure some $3 million higher than this year's "floor of $32,596,- 500. David H. Cameron, depart ment commissioner, said "un der present economic condi tions it is improbable that the agency will pay out $3 million between now and Sept. 30 when fourth quarter rates are computed." "This means .that 9,075 cov ered employers will be en titled to an experience ratine for their fourth quarter pay roll tax which is payable next January," he said. Employers still will pay a uniform 2.7 per cent for their third quarter payroll tax due this October, Cameron said. Salem Infant Scalded by Water Salem -flJPD-A three-month- old Salem boy was in serious condition today after slipping from the arms of his baby sit ter into a bathtub, of hot water. Attendants at Salem Gen eral hospital said the boy, Timothy Scott Tungate, son of Mrs. Donna Rae Tungate, had third degree burns over 60 per cent of his body. The baby was being watched by Murial O'Hara, a 10-year-old niece of the Tun gates, when the accident oc curred Wednesday. She told detectives she had the baby in her arms after drawing the hot water in the tub and dropped him as she leaned over to turn on the cold water. At first she did not realize the child was burned, she told police, and put him to bed. But in a few minutes she checked the child, spotted the burns and called first aid men. The child was rushed to the hospital. " DUX Imported Scandinavian Originals Q j PHONE MU 5-8771) 3a3iC!XLXi3QQa3 ft Li SXH GREEN STAMPS ON ALL CASH PURCHASES tunities even though the mar ket as a whole may be enter ing a broad trading area. "Coming weeks may, at times, be trying - but they'll also be rewarding to the discerning." Medford Tribune 2nd SEaiON MEDFORD, OREGON, FRIDAY, AUGUST 14, 1959 Pages 1-8 No white man to date has ever completely explored the mijes of winding channels in the Everglades which spread over four million acres. Summer temperatures at Adak in the Aleutian islands averages only about 25 de grees higher than the 30-de-gree average for the winter. Bauxite, an important source of aluminum, was orig inally discovered at Les Beax, France, from which it de rives its present name. Dam Name Idea Not 'Needling' Morse Washington-ttJPD-Sen. Rich ard L. Neuberger's office de nied Thursday that Neuberg er's bill to change the name of the proposed Green Peter dam in Oregon to Douglas McKay dam was designed to "needle" Sen. Wayne Morse. Lloyd Tupling, administra tive assistant to Neuberger, said State Rep. Keith Skelton (D-Eugene) was quoted to that effect earlier this week. "Such s definitely not the case," Tupling said. He said Neuberger believed that po litical partisanship should not be carried beyond the grave. Mr-Kay, former interior sec retary, died last month. There are more than 800,- 000 municipal firemen in the. United States, but only about one of eight is a full-time pro fessional firefighter. The oth ers are volunteers. ,We Give GREEN STAMPS CENTRAL REXALL DRUG Main and Central MAMM'S SjEMLTPS TTUfflEM DBA(CIKoTr(IDo(Cnn(ID(IDL SMAIMTILY DDIGIESSIEIID BACK-TO-SCHOOL sew and save special . . 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