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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Aug. 25, 1959)
1C MAIL TRIBUNE, Medford, Or.i 10 Tuesday, Aug. 25,. 1959! CRACKED WIDE OPEN and under 24 hour watch Hebgen Dam in Montana shows the earthquake ravages to the core of the dam. Officials fear another shock might split the dam even more, causing water to break through. Small Worlds Around Us By Lynn M. Watkins Pages of Past Show Similar Picture in Stock Market Today If Asked, Could You Describe a Vinegaroon? Not too many people know about it, and probably care less, but if someone should happen to ask you "what a vinegaroon is" what would you tell them? There really is such a thing; a living creature, rather hideous, ugly and evil looking, but an occupant of this interesting earth of ours. The vinegaroon has the ap pearance, habits and most of the other characteristics of one of its scary relatives, except that it is non-poisonous as well as harmless. Someone once discovered that if the creature was irritated or high ly excited it voluntarily exud ed a strong vinegar-like odor -hence the name "vinegar oon." False Scorpion The vinegaroon is a member of the scorpion family; a false scorpion to be scientific; sometimes called the "whip scorpion." It grows to three inches in length, is of a dark brown color, and usually has a hairy body. Instead of be ing a jointed, fishpole-like or gan, such as the true scorpion and characterized by having the sharp stinger with which the strike is made, the vine garoon's tail is slender and bristle-like, without the sting er. But the front "arms" are similar to the true scorpion, and are armed on the inner edges with sharp spines that assist the animal in crushing its prey. Although it is in no sense poisonous, the creature can deliver a sharp nip with the powerful pinchers, ' the spines of which can penetrate human skin. The vinegaroons are secre tive creatures, hiding by day and emerging at night on a constant search for insects. They prefer to hide in crevices in rocks, or under the bark of trees. In some parts of the Southwest they are relatively common. The life history is not too well known. There is a spe.cies of whip-scorpion without the slender, bristle like tail, known as the "tail less" scorpion. The end of the abdomen in this variety is well rounded with no tail at all. Occupy Unique Place The scorpions occupy a unique place in the order of living animals. They are clas sified as Arachnids; neither bugs nor insects, but closely allied to the spiders. Many species are found in the warm er regions of the earth, at least 20 kinds in the United States, some of which sometimes reach a length of six inches. The fore-claws of all resemble very closely those of the lob sters and crawfish. The vinegaroon only looks dangerous. Actually it makes an interesting pet, even be coming tame enough to eat out of its master's hand. But you probably have better things to do with your time. By ELMER C. WALZER UPI Financial Editor New York-(UPD-With a stock market like the one we've J had for a long time, it's fit ting to look back on a somewhat sim ilar situation. That might be the market of 1929, 30 years ago, when every thing seemed rosy and there Rimer Walzer wasn't a cloud in the economic sky. The Old Ruminator of Ver mont, Humphrey B. Neill, he of contrary opinion, did just that the other day. He hied him out to his library in the bar where he pulled down 52. issues of The Annalist cover ing 1929. The Annalist was a financial magazine pub lished by the New York Times and since discontinued. The Old Ruminator found himself a shady spot under a giant maple tree, the kind of tree that has made Vermont maple syrup famous. There he pawed over the pages of the past which gave him a feeling that leaves similar re actions today, 30 years later. Back there speculation was wilder, than now, he notes. The little people were trading on shoe-string margins while the big pools were operating on everybody's money. A money crises early in 1929, in March, was an his toric event. Call money (loans on securities) rose to 20 per cent, while simultane ously the stock market fell 20 per cent. It recovered promptly, however, only to tumble again in May Salem Family Not Missing in Quake Salem - (UPD - A family fear ed lost in the Montana earth quake last week has turned up safe in Salt Lake City, it has been reported by the Marion county sheriff's office. Howard Evans and his wife and two children had been unreported since the quake. Evans is the chief tax collect or for the sheriff's office here. His wife is a deputy county clerk. Evans contacted the sher iff's office from Salt Lake City and said he was aware that he and his family were believed missing. They were in Gardner, Mont., when the quake struck, Evans said. The New York banks, led by 'Charley' Mitchell; presi dent of the National City Bank," he recalls, "came to the ill-advised rescue of the money market. The Federal Reserve had repeatedly warned against speculation and brokers' loans, and had threatened to get tough "Mitchell, however, with call money at 20 per cent, as serted that 'so far as this in stitution is concerned, we feel an obligation paramount to any Federal Reserve warn ing.' - "Thereupon he and other bankers offered large sums to Wall Street to avert the crisis. RETIRED CHAIRMAN DIES New York - (UPD - Victor Mills, 75, retired chairman of the Mills Manufacturing Co. of Asheville, N.C., and the Mills Products Co. of New York City, died Saturday night at his home here. Everywhere! nider's Quality DAIRY FOODS REPEAT OF A SELLOUT! m v SPECIAL lPJUlRCMASE! room size rugs .Comparable value 29.98 UO 0(0 O non-sUid safety back O rich thick pile O completely washable O coloriast As practical as they are good looking. A sensational value for any room in the house. Six decorator colors: Dusty Rose, Grey, Sandlewood, Hunter Green, Beige and White. Actress Irene Dunne Grandmother 'Again Santa Monica, Calif. - (UPD -Actress Irene Dunne became a grandmother fof the second time Sunday when her daugh ter, Mary Frances Shinnick, gave birth to a daughter at St. John's Hospital. Mrs. Shinnick and her hus band, Richard,- also have a son, Mark, 22 months old. As The Annalist reported, one of the sharpest declines in the history of the New York Stock Exchange was suddenly changed into one of the most remarkable rallies in the his tory of the institution." Stirring times, the Rumina tor recals. After a second tumble in May, the stock mar ket zoomed upward again in June. The snap-back created over-confidence and led to the delusion of new era, such as a permanent plateau of prosperity and similar rose ate notions. , On June 28, The Annalist's commentator who had been level-headed all year, wrote that he felt facts "all lead to to the Conclusion that we have not seen the - culmination of the great advance of 1927 1929. Fantastic as the pres ent level of prices may seem, something still more fantastic probably lies ahead." Some of us have similar misgivings today, the Rumina tor observes. The Federal Reserve held back until August and then got tough when it was too late. The stock market paid no at tention. August registered a wild scramble. The final spurt and blow-off was short and sweet-strange to relate. "In only a very few weeks," the Ruminator recalls, "with the first week in September the back-off point in the rol ler coaster, the market ended history's up to then greatest bull market. "Prices dropped in'Septem- Father Again in Role of Midwife Hollywood (UPD Robert Clark, 28, and his 22-year-old wife lost a race with the stork Sunday for the second time in 19 months. Clark was rushing his wife, Nell, to La Brea Hospital when time ran out and he had to park a short distance away and deliver their six-pound, four - ounce daughter, Tami. He delivered their first daughter at the family home in nearby Venice 19 months ago. Both mother and new daughter are doing fine. our impressive eouecu m of FINE FURS ber, collapsed in October, and washed out in the November panic. I recall the Black Thursday of October 24, 1929 -31 million shares traded the stock ticker in our office ran until 7:30 printing trans actions four and a half hours after the market closed." That's the way the Old Ru minator spent a hot afternoon in Vermont a few days ago. He holds such reviewing is a good idea to recall the past that resembles the present. We haven't the speculation of those days with margins at 90 per cent, but prices are mighty high. The industrial average hit 381.17, the record for the period, on Sept. 3, 1929. Then it fell to a new low at 41.22 in mid-1932. A subsequent rise carried the average to 194.40 in 1937. From there it fell irregularly to 92.92 in April of 1942. It hasn't come close to 92.92 since 1942 and hence may assert we have been in a bull market since then. If so the rise to the recent high of 678.10 makes this the biggest bull market in history. The one in 1929 was the biggest in history to that date. One large military aircraft plant contains 76 acres of floor space and four and a half miles of interconnecting two-lane highways. Edmund E. Hass Vice-President Sine 113 SUITE 303, FLUHRER BLDG. PHONE SP 3-7319 5 SOUTH CENTRAL AVENUE - Consult With Mr. Hass on Investment and Retirement Programs Using the Securities of . . . Utilities Banks Insurance Industrial Investment . Company Shares. 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