Image provided by: University of Oregon Libraries; Eugene, OR
About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Oct. 14, 1959)
54th Year Price 10 Cents Medford Tribune 2nd SECTION MEDFORD, OREGON, WEDNESDAY, OCTOBER 14, 1959 Pages 1-8 o o (1 0 Jtc! :iLJ CALLING AT ELYSEE PALACE, Prince and Princess Rainier, of Monaco, are greeted by President and Mrs. Charles de Gaulle, of France. It was their first official visit Federal Reserve Book Provides Answers on Government Bonds GBy ELMER C. WALZER UPI Financial Editor New York - (UPD - More and more pesple throughout the nation are seeking informa tion on gov ernment bonds, notes and bills. And, as if m by a sixth sense, tne F e deral Re serve Bank of New York has just published Kljftr Walzer a ook Which gives all 1he answers. This renewed attention be ing paid ggvergmeats was bcfclt p when the Jreasury floated a o5 per cent, four-year-an-ten-month issue of ngs and got $11.1 billion in f? subscriptions f t e r asking oniy for $ billion. That 5per cent short term i iu as the highest interest fate the Treasury has paid since 1929. oAnd it also set an all-time kii record of $1.2 bfilion of 91-dabills at 4.265 average interest in competi tive bidding. The New Yofk Fed's new book, "The Money Side of The Street'" is .on, Wall Street's money market, the world's leading money center. Author Knows Subject It was written by Carl H. Madden, manage of the bank's public information de partment. Madden not only knows his subject but he writes so all who read can understand the intricacies of an intricate market. He devotes a whole chapter to the treury bill market which for its short term issues is a definite part of the money mrket along with such in struments of crdit as federal funds, bankers acceptances, commercial paper, currency and check money. In that chapter, he also de votes considerably space to the government securities market which is all done over-the-counter. . The vast government debt amounted to about 65 per cent of the value of the nation's output of goods and services in 1958. There are three parts to the debt special issues sold to government agencies and trust funds which are not market able; U.S. savings bonds, also unmarketable; and about $176 billion that can be bought and sold. Of these, about $30 bil lion are treasury bills; $36 billion of certificates of in debtedness: $26 billion of notes and $84 billion of bonds. Treasury bonds are listed on the New York Stock Ex change but seldom are traded. The over-the-counter market which trades in them and other government marketable securities is made up of 15 to 20 dealer firms and their branches and five dealer banks. Unit Trading Most deals are . made over the telephone in units of mil lions of dollars with $5 mil- Union Establishes Vote Registration Portland-(DPD-The president of the Oregon AFL-CIO told the Multnomah County Labor Council Monday that the AFL- CIO has established a vote reiestration program s in all eastern Oregon locals. J. D. McDonald said the plan's aim is to get all mem bers of unions reigstered be fore the Oregon primary next Mav. The Droeram in all other sections of the state is in the completion stage, he said. VERA'S TOLL Tokyo-(UPD-The latest police tabulation Tuesday showed 4,464 dead and 649 missing in Typhoon Vera, which slam med into Japan s central Hon shu Island on Sept. 26. The of ficial tally showed 30,114 in jured and 1,571,524 homeless. STATE FARM INSURANCE ft COMPREHENSIVE DWELLING FBJ.ICY GIVES YOU IHUIULIZED PROTECTION FOR SfYOUR HOME 0 FTfYOuH PERSONAL PROPERTY EfYOUR personal LIABILITY AGAINS1. FIRE, LIGHTNING, WIND, THEFT. VANDALISM AND MANY OTHER PERILS ALL IN ONE 'PACKAGE' POLICY AT A SAVINGS TO YOU AVAILABLE NOW SUBSTANTIAL CREDIT . o ALLOWED FOR PRESENT INSURANCE mutMCi JOHN A. CARTER VIRGIL R. WILKES 133 So. Central SP 3-6695 STATE FARM FIRE AND CASUALTY COMPANY BLOOMtNGTON, ILLINOIS Grange lews... Central Point Grang. The third and fourth de gree will be demonstrated at a meeting of Central Point Grange Friday, Oct. 16, at 8 p.m. Members having articles for the rummage sale to be held at the Grange hall Oct. 21 may bring them to the meeting Friday. Mrs. O. T. Wilson is general chairman of the sale, Mrs. L. C. Gordon will be in charge of the plant sale, and Mrs. Ed Walters will care for the white elephants. Lake Creek Grange Members of the Grange voted to buy material for a roof for the hall, and mem bers are asked to mail the monies to the secretary. The roof will be installed Oct. 31. All of the men are asked to assist, and anyone in the com munity that has the time to donate, labor will be appreci ated. Women of he Grange will serve a noon meal. A Halloween party will be given at the Grange hall Oct. 31. Everyone is invited to at tend. Homemade pies, cider and coffee . will be served. Local musicians will furnish the music. Grange members- extended sympathy to members of , the family, of Otto Meyer. Mr. Meyer's parents, Mr. and Mrs. Henry Meyer, gave the land that the hall is situated on as a gift for a building sit.e A card will be sent to Mrs. Arthur Burrell while she is in the Providence hospital in Portland. Next Grange meeting will be Nov. 13. We Giv GREEN STAMPS CENTRAL REXALL DRUG Main and Central lion and $10 million transac tions in treasury bills not un usual for large houses. Bonds usually trade In units usually under a million but often ag gregate more. Quotations are in 32nds of a point for bonds. A quota tion of 100.16 means 100 16 32nds per cent of par or $1,005 for a $1,000 bond. Bills are quoted in percentage of yield. Many of the government bond dealers handle transac tions in many other items such as acceptances, unlisted stocks, municipal and other bonds, and issues of quasi government agencies. , In addition to this market, the book relates the details of financing big and small business with short term money, how banks keep their money on loan and yet main tain their legal reserves, how corporations keep their ,idle money invested, how" check transfers are. speeded by the Federal Reserve wire system, how all the instruments of credit operate, how the fed eral reserve functions, and how the discount rate is used. Many other details also are explained in simple, straight forward language. - - . Manpower Waste At SAC Bases in Spain Charged Washington (UPD A Dem ocratic congressman charged Tuesday the United States maintains about 5,000 service men, civilians and dependents in Spain for every six Strate gic Air Command bombers "on the line" in that country. Rep. Frank Kowalski of Connecticut said he would ask President Eisenhower and the Air Force to investigate whe ther "they need all these peo ple." Kowalski, a former Army colonel and a member of the House Armed Services Com mittee, added that he also was disturbed by the way the armed services used man power at several more of the 23 U.S. bases he visited dur ing a 26-day European trip. Impressed By SAC The congressman emphasiz ed he was not criticizing Air Force retaliatory power, as serting that he was "tremen dously impressed by the way SAC is able to deliver strik ing blows. I have never seen anything so impressive." He told newsmen, however, that there were six bombers "oh the line" ready to go at each of three SAC bases in Spain while behind them were 2,000 to 3,000 military per sonnel and about 2,000 de pendents, plus 1,200 to 1,500 Spanish civilian employees. Kowalski said each base was a ."little American city" cost ing about $100 million. Jacksonville Man Is Fined in Court Here George Alonzo Warner, 48, of Jacksonville, was fined $155 in district court last Fri day for assault and battery. Warner had pleaded guilty to the charge the previous Monday. His attorney was O. H. Bengston. Warner had been arrested in connection with an assault upon his wife. Americans purchase half of all goods produced in the world. , . .,- . GHOSHS) Washes and dries in as little as 1 hour Washes and dries in one continuous operation . . 1 or separately e Automatic Liquid Dispenser Safe for all fabrics e Automatic Power Soak Hot, warm or cold . water wash. 3 dry settings TERMS! Fits Anywhere a Washer Will! Only 26" wide $$85 It II a wrpw rwico ce-704 war Philco Duomatics j priced from i mm EASY TERMS ! EVEN LESS With Trade-in 32J w mm riDT w rnrfnrf rwnwinrenri cb rwrn i ft at nLT W LLxi SttM comsiuaTioa biade Tzttzsrxz I N-c! rfeF-agBiasaJ & TRU-GU1DE - . rin broe bMrinae I f ' l &ill1'! frrriWrt PnS - fe amp motor. Cars fcJI hid HEflUY-DHTY CUTS KEAVY 2x5,s MASONITE, SIDING, PlYWOOD, PLASTIC, WAUBOARD, ETC USE ANDY'S Easy Credit Terms 7"povratsAWSqn93 CARRYING Andy's Buys Entire Stock of Marlows Jewelers Yreka, Calif., To Bring You This Sensational Fi'n-cr? n m ra USE YOUR We will be glad to arrange a convenient plan to suit your budget. Come in. VAiin EBiEKim v PHONE I VUli riIEIMIfl. I L 2-2970 CREDIT JEWELER 15 N. Central 2 Stores Medford and Yreka, Calif. TRADE-IN-ALLOWCI lor your Old l"ahh REGARDLESS OF MAKE OR CONDITION ON A NEW SELF WINDING Im With These QUALITY FEATURES Self-Winding Waterproof Shock- - resistant Dust-proof Anti-magnetic Unbreakable Mainspring 17 Jewels Stainless Steel Back With This Guarantee If the balance staff or mainspring ever breaks, we will replace f($ of charge. Guaranteed waterproof and dustproof if crystal iai $ back are opened only by competent watchmakers. Regularly TRADE-IN ALLOWANCE $59.36 $20.00 You Pay $ ONLY fci) If 225 East 6th Phone SP 3-5433
