MAIL TRIBUNE, Mcdford, Or.
Tuesday, Oct. , 1959
Funds Hamper
Rocket Program
Boston (UPD The United
States is developing a rocket
at least twice as powerful as
those believed used by Russia
in its space efforts but the
American project is lagging
a year behind because of in
'. sufficient funds, rocket ex
pert Dr. Wernher von Braun
said Monday night.
Von Braun, chief of the
Army's rockets and missiles
program, told ' newsmen . be
fore addressing a business
group that the nation's penny
pinching policies were killing
U.S. chances of overtaking
Bussia in the space age. .
"We could catch up if
spend enough money to do it,'
he said. "We could go faster
1 if we got the funds we asked
for. But we get only about 50
per cent." , . ,
Von Braun said the rocket
under development, called
Project Saturn, would have
i engines capable of developing
thrust of 1,500,000 pounds,
; "about four times greater
' than : our largest interconti
nental ballistic missile and
! about twice as great as the
; power plants we think the
I Russians- have used in their
space program."
Dulles? Daughter
Licensed To Preach
New York -UPD- The daugh
ter of the late John Foster
Dulles, former secretary of
state, was licensed to preach
Monday by the Presbytery of
New York..
Mrs. Lillian Hinshaw, the
mother of four children, has
only one step to take before
she is ofdained as a minister.
A minister usually is ordained
when he accepts his first
pulpit. -
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STANDING ALONGSIDE USS THEODORE ROOSEVELT, this scale model of Lock
heed Polaris missile shows size of deadly armament that will be aboard when subma
rine is commissioned. It will carry 16 such nuclear missiles capable of hitting targets
1200 miles inland from any ocean depth. The submarine, first to be built on West Coast,
was launched at Mare Island Friday, with model missile attracting wide attention.
Almost Any Market Opinion
Available With Careful Look
By ELMER. C. WALZER
UPI Financial Editor
New York-flJPD-If you look
carefully, you can get about
any market opinion you de
sire just now,
bullish, bear
ish, cautious,
s e 1 ective, or
neutral. .
' There seems
tobe a smal
ler number
with outright
bullish or
bearish opin-
Blacr Waizer i o n s. The
larger segment in Wall Street
seems to be feeling its way
without trying v to discourage
or encourage one on the mar
ket's prospects!
Jacques Coe of the broker
age house that bears his name
last June wrote about "How
High Is Up?" Now he's ask
ing "How Far Is Down?" '
Coe is an advocate of the
theory that when me little
fellows are buying that's the
time to sell. .
He notes this siutation now
and also calls attention to the
secondary offerings which
are causing stocks to pass
The Firefly:
A Bug With Headlights
There was a tone of utter
incredulity in the voice that
came over the telephone. "I
thought I had seen every
thing," it said, "but now I'm
not sure. On our breezeway
floor we have a bug with
headlights.
"What's mora," continued
the voice, "this character has
landing lights too, just like
an airplane. I turned him over
last night and sure enough,
the lights on the underside lit
up at regular intervals. ;
"When we turn the lights
off in the breezeway, the crit
ter looks like a tiny automo
bile trying to negotiate a
winding road at night. We
would not be too surprised if
the little guy had a red tail
light, but so far we haven't
looked. Just what have we
got?" the voice finished,
lamely.
Well, there is, of course, an
explanation . for the "illumi
nated bugs." Actually ,x bugs
with headlights are rather
common. Most of them are fe
male lightning bugs, common
ly called "fireflies." We sel
dom see these tiny ladies, for
usually they hide in the grass
or fly very low, just above
the grasstops. The flashing
light we see, if we look down
instead of up in the treetops,
is the female. The male fire
fly, the one who is so com
mon on the warm summer
night, flies high, up nearly
to the treetops. Looking high,
we see his flashing light,
while the light from the girl
firefly is seldom seen, merely
because it flashes in the grass
stems.
Signal
The light from on high is
the signal from the ardent
boy-firely that all is welL that
he is at hand. His little light
flashes every two and a half
seconds. This interval is al
ways accurate, and always of
the same duration. The an
swering light from the fe
male, the one we do not see,
is weaker, of a slightly differ
ent color, and flashes every
two seconds.
The location of the light or
gans is. slightly different in
the two sexes. The female, as
seen irom aoove wnere tne
male' is flying, must display ,
pap
! -iii
from relatively strong hands
to those not so strong. This,
he says, indicates distribution
on a large scale -Can't
Be Reconciled
"The factors," he conclud
es, "simply cannot be recon
ciled to expectations of a new
bull market in the offing, in
fact they suggest the exact
opposite."
Speaking of the bull mar
ket earlier this year, Coe
says:
"The apparent strength of
the stock market was a 'de
lusion; in fact we should call
1959 'the year of deception,'
because people all over.' the
country were hypnotized and
misled by the constant up
trend of the Dow-Jones aver
ages when, as a matter of
fact, the great body of stocks
steadily had been losing
ground." ,
Danger Signs
He lists danger signs: Vol
atile issues selling "so many
times earnings that their fu
ture was discounted years
ahead"; distortion of the re
lationship between yields on
high grade stocks and high
grade bonds; and inability of
Small Worlds
Around Us
By Lynn M. Watkins
"top lights", while the male,
who must be "looked up to",
must have "side-lights" locat
ed near the tail.
Granted the lights are pres
ent in these interesting in
sects, but the real function
of them, and exactly how the
light is created, is not too
clear. The luminous organs
consist of layers of granules,
over layers of tissue. The
granules seem to be reflectors
that throw the light. It is be
lieved that oxygen flowing
over the tissues causes them
to glow. For some unknown
reason, even the eggs of some
fireflies glow with a weak,
greenish light.
Light. No Heat
The light from the firefly
is also a puzzle, it is light
without heat, something man
has never been able to dupli
cate. There are some species
of firefly whose females are
wingless. Some, in the larvae
stage, are aquatic. As far as
can be determined, adult fire
flies never eat.
Fireflies have their place
in Nature's scheme of things,
ior many 01 mem prey on
certain destructive snails that
often are a pest to cultivated
crops. This preying occurs in
the larva stage of the firefly,
while it is spending the early
part of its mysterious life in
the waters of a pond. Maybe
the "bug with the headlight"
knows, more than we do,
where it is going.
(Released by The Register
And Tribune Syndicate, 1959)
Oregon Real Estate
Commissioner Sworn
Salem (UPD Robert J. Jen
sen, Portland, was sworn in
as Oregon's Real Estate Com
missioner Monday;
.Gov. Mark Hatfield's ad
ministrative assistant Warne
Nunn, administered the oath
of office.
Jensen takes the place of
Clarence F. Hyde, Eugene.
Jensen served in the 1955
Oregon Legislature, is mar
ried and has seven children.
LUTHERAN LAYMAN DIES
Philadelphia- (DPD - Peter P.
Hagen, 85, retired manufac
turer and prominent Luther
an layman, died Sunday.
low-priced stocks to better
their April highs.
He finds the recent decline
beneficial for the market and
he does not expect the mar
ket to foster the "evils of ir
responsible speculation of last
spring."
Standard & -Poor's says er
ratic action is typical at ths
stage Of the market. It would
like to see some evidence of
consolidation before adopting
a more aggressive attitude.
Standard calls attention to
the promise of wide-spread
dividend liberality in the fin
al quarter.
Dividends so far this year
have risen 3 per cent over
1958. Standard holds that the
full year should show a gain
of around nine per cent, re
flecting year-end extras. And
it looks for a broad increase
in regular dividend payments
in the first quarter of 1960.
Bull Market Continues -'
International Statistical Bu
reau holds that the bull mar
ket hasn't ended although
there still are a number of
uncertainties. The Bureau sug
gest avoiding highly specula
tive issues, even including
many of those which have
been fairly well liquidated.
L. O. Hooper, analyst for
W. E. Hutton & Co., belittles
the theory that the end of
the steel strike will inspire
a further stock market gain.
"The weakness of this in
spiration," he says, "is that
there is no surprise element
in it, unless the strike ends
without a Taft-Hartly injunc
tion, which seems improbable.
"It is widely expected, and
has been much discussed in
advance. The steel strike has
done enough damage already
to necessitate a downward re
vision of estimated earnings
on the Dow-Jones industrials
this year.
Market More Neutral
"Perhaps it would be ac
curate to say that the im
mediate stock market outlook
is more neutral than bullish
or bearish. We suspect that se
lected issues will occasion
more interest than the gen
eral fund."
Wall Street istft overlook
ing the fact that just about
everybody is predicting big
things for industry and the
economy .generally once - the
steel mills get back into pro
duction! 1
The Street expects note not
without a bit of sadness that
when any group is unanimous
it is usually wrong.
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United States to Go Ahead With
Formation of Development Bah
Washington (DPD Secre
tary of the Treasury Robert
B. Anderson says emphatical
ly that the United States is
going ahead with formation
of an inter-American develop
ment bank.
He said this would have no
effect on plans to set up a
new world loan institution.
His statement spiked re
ports the United States had
cooled toward a hemisphere
institution now that plans to
establish the international de
velopment association have
been approved.
Strongly in Favor
"Nothing could be farther
from the truth," Anderson
told United Press Internation
al. "We are as strongly in fa
vor of the inter - American
bank as ever." - -
The IDA, like the inter
American bank, Is to provide
Riding Couple Gets
To Destination at
Canadian Border
Don and June Mulf ord, who
passed through the Cascade
area of southern Oregon in
late July and early August on
their horseback trek along Pa
cific coast high trails, reached
their destination, the Canadi
an border, several days ahead
of schedule.
The Castle , Rock, Wash.,
ranchers, who aimed to pio
neer by riding the length of
the high trails - in one long
journey between the Mexican
and Canadian lines, reached
Marker 85 on the border be
tween the United States and
Canada on Sept. 25. They had
started from . near Tijuana,
Mex., on April 19 and rode a
total of 2,485 miles in 160
days. ."
Target date for completion
of the trip had been set lor
Oct. 1.
The Mulfords followed a
variety of trails in California,
the : Skyline . trail in Oregon
and the Cascade Crest trail in
Washington. They, entered
Oregon south of Pinehurst on
July 29, traveling with four
horses and a mule and stopped
for two days at the Zinn
ranch.
At Lucky Don Ranch
The two are now at their
Lucky Don Ranch. They fin
ished their trip saying they
still liked horseback riding,
that they were always going
to keep saddle horses and that
they may even make another
horseback jaunt.
Mulford took about 5,000
feet of colored movies at
sound speed, has completed
Price of Ford
Claimed Lowest
Detroit - (DPD - Ford Motor
Co. has announced its Falcon
would be the lowest priced
six-passenger car in the in
dustry. Ford officials said the sug
gested list price of $1,746 for
the two-door Falcon was $64
under the recently announced
price for Chevrolet's entry in
the compact car . field, ; the
Corvair.
Suggested list price of the
four-door model is $1,803. ; .
Ford President Henry Ford
H said the two-door Falcon
price is $305 less than the
1960 Fairlane, lowest-priced
six - passenger auto of the
standard size American cars.
He emphasized that sug
gested factory list prices did
not include distribution and
delivery charges, license fees
or federal, state or local taxes.
BETTER.. -by
McKESSON
long -: term low-interest cred
its for needy nations. But the
two agencies would comple
ment rather than rival each
other, Anderson pointed out.
He predicted the SI billion
bank will become operational
early next year, thus fulfil
ling a long-standing desire of
Latin America to have its own
development financing agen
cy. The United States puts up
$450 million of the initial cap
ital. Congress has already appro
priated the money, the agen
cy's charter has been drafted,
and administrative prepara
tions are well under way.
"It is. clear," Anderson said,
"that the bank will come into
being much before any other
new agency and we are sup
porting it now as enthusiastic
ally as we did when we
agreed to join it last year."
his travelogue and hopes it
will be a book after more
work on it. Plans of the cou
ple are not definite but they
hope to show the movie at
various places. Mrs. Mulford
took a large number of color
ed pictures for slides.
The horses made the entire
trip.'
"After reaching Marker 85,
the Mulfords had three days
ride to get their horses on a
truck to . head back to their
ranch. They rode across 12
miles of snow on several pass
es and left one camp just in
time to miss being snowbound.
: October Is
Dinnerware Month
Famous Brands
Special Values
2ND
Southern
Oregon's
Leading
China & Crystal
Departments
How is it you know you're taking no chances
when you let a youngster take your shopping list?
Isn't it for the same reason that you buy 1
of your family's food without actually seeing it?
You know that
A good brand is your best guarantee
: ; . and that the name on the label is your best,
buying guide. You have learned to count on good
. Argentine Minister of Econ
omy Alvaro Alsogaray noti
fied the bank s preparatory
committee that the Argentine
Congress has unanimously ap
proved a subscription to the
bank.
The IDA, if approved by the
legislators of other nations,
wouia come into service in
1961.
The United States proposed
the new organization in an ef
fort to rally Western Europe
and Japan once helped by
the United States to start
helping others. It is to have
a capital of $1 billion and
function as an affiliate of the
world bank.
Governors of the 68-hation
bank approved the project at
a meeting here last week al
though there were still many
differences over the details.
Throughout the m e e t i n g,
U.S. spokesman emphasized
that the IDA would not dimin
ish U.S. foreign aid nor im
pair the operations of existing
institutions.
Loss Interest Shown
Undersecretary of State C.
Douglas Dillon went out of
his way to allay fears that
IDA would conflict with the
inter American bank. He
stressed that the United States
would do everthing it can to
help make it a reality by the
beginning of next year. Never
theless, rumors persisted that
the U.S. was showing less in
terest in the Hemisphere agen
cy, believing that -the IDA was
a more important institution
in the overall East-West cold
war.
Few Latin American dele
gates believed these rumors.
But one Latin American dele
gation claiming to have con
ferred with high U. S. offi
cials, insisted that " we think
there is a basis in fact to these
reports."
FLOOR
""WW rWEW.OW60llf
mm
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LOCAL
WOMEN PICKETS Women pickets are on duly for &e
first time in history at J&L's Southside plant in Pitts
burgh, Pa. Mrs. Gladys Jackson and Mrs. Hilda Bricfc
checking supervising personnel Into the mill, are amdhg
27 women who are employed in the stjtel mill's cafeteria.
London-DPD-A British com
pany announced today that it
plans to convert the London
cigar " store which supplied
Sir Winston Churchill with
his cigars into a hamburger
joint.
Edmund E. Hass
Vice-President
Heme Northwest
Sc 1913
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5 SOUTH CENTRAL AVENUE
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Other offices Jn Portland, Salem, Eugene, Seattle, Spokane, , Tacoma
Aberdeen, Bellingham, Yakima, Wenatchee and Walla Walla,
r
to the store?
brand names. You know the company stands
back of them. You know they protect you.
The more good brands you get to know, tht
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MEDFORD MAIL
' ' . "
i
UNION 1272
1
Westcliff S, Colo. (DPD - An
Army helicopter crew made a
systematic check Mogday for
stranded famines on snow
bound farms and ranches, in
southern Colorado.
Compani
O
O O
York 19, N. Y.
TRIBUNE