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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Oct. 23, 1959)
Experts Say Stocks Doing Well But Suggest Postponing Buying By ELMER C. WALZER UPI Financial Editor New York -4EPD - For some time now, say the experts, the stock market has perform ed very well in the face of adversity. But, they add, better look out for it - save your money ff L--ii and add to the pile by some tax selling h e r e a nd there, and 1 kT 4 for a 3u?i better buying opportunity. Everything in the market KUner Walzer n i r t r c ic grouped around the steel strike. Wall Street isn't too fond of a Taft-Hartley re sumption of work, but would prefer that to no resumption at all. The financial community sees its earlier estimates of high fourth quarter opera tions with corresponding gains in earnings and divi dends going out the window as the strike continues. The first month of the fourth quarter is practically gone. If steel operations are resumed it would take an other month to get the mills to producing the metal in any kind of flow sufficient to help industry and it would take until mid-December ip get a supply of finished steel. Thus all . ; but about two weeks of the fourth quarter would be gone with , produc tion falling off steadily throughout industries that use Steel. - ' ; Of course, the stock market isn't considering the past. It looks to the future. Hence, any real improvement in the steel industry position would be felt immediately even though it might not help in dustry for a long time, it is pointed out. Market men tried to adjust theft short positions recently to a steel resumption, judging from the changes in individu al short positions. They covered some of their short positions in steel is sues and some of the rails on the belief these two groups would? bound ahead when the mills resumed operations. They sold automobile issues short more heavily, possibly on the assumption there would be profit-taking in the group. Studebaker - Packard when-issued stock had a short interest of 2,456,079 shares which was not added to the overall total. All sales in that stock are short. It doesn't ex ist.' Highest Figues In 1931 Had the Studebaker W. I. stock been added to the 3, 421,641 shares short as of Oct. 15, the total would have risen to 5,877,720 shares, the sec ond highest since figures were started in 1931. The record high for any month in the series was set on July 15, 1958, at 6,087,260 shares. Studebaker common stock was second with a short in terest of 452,606 shares, against 366,226 shares on Sept. 15. General Motors, Chrysler, and Ford had big gains. American Motors short interest jumped to 113,053 shares from 99,629 on Sept. 15. , . : , -; Shorts covered in Texaco and extended their commit ments in Standard Oil N. J. Thiokol Chemical rocket fuel had a big short interest jump in the glamor issues. The short interest oik Dec. 15, 1958, stood at 5,073,356. It declined in January, Febru ary, March, April, May and June of this year, rose a mite in July, and then resumed its decline in August and Sep tember. . Toial Interest Lifted ' . Rise in the interest in the month ended Oct. 15 amount ed to 335,940 shares, a size able addition. It lifted the to tal interest , to : a new high since April 15, 1959, when the total was 3,511,794 shares. 'Wall Street says that the short interest is favorable for the bull side when it repre sents a day's trading. The cur rent one is well above the re cent daily average of trading. But right now the finan cial district has a lot more on its mind than the ' short interest. Incidentally, this short in terest represents stock that has been borrowed and sold in the hope it will decline so the seller can re-buy it, re turn it to its owner, and poc ket the difference between the sale and the purchase. It is potential buying power. Bears are supposed to be pessimists. They may be pes simists on the stock market but they are optimists in thinking they can make a kill ing on the short side, say the bulls who hold this market isn't going to run away on the downside, despite the boom. Actor, Wife in Divorce Agreement Santa Monica, Calif. -UPD-Actor Glenn Ford and Eleanor Powell have reached tentative agreement on a property set tlement that has delayed their divorce. Their attorneys said Thurs day that if Ford and his dancer-wife accept the final draft of the agreement, Miss Pow ell is expected to obtain her divorce decree by default Details of the settlement were not disclosed, but it was said to involve about $350, 000, which will be divided 50-50. It was indicated they had agreed on the custody of their son, Peter, 14. In her divorce action, Miss Powell sought $3,715 for monthly expenses, custody of their son, and a division of community property, includ ing a Beverly Hills home val ued at $150,000. J J -jt k I i I i 1 TO SAVE THE BULL-An American has stepped in with an offer to save the life" of Britain's contented lady-like bull, Brock Mandore, shown here with owner Mrs. William Tit cumb. Condemned to death by the Ministry of Agriculture because officials are afraid he will pass his cow-like face to male offspring. Brock Mandore is being sought by Norman Bennett, Washington, D.C. Titcumb insists the sissy-looking bull is "as tough and rough as they come." -UPI Telephoto) Friday, Oct.-23, W9. MAIL TRIBUNE, Medford, Or. 3 The Medical Roundup w Emeritus Consultant ia Medicine. Mayo Clinic Emeritus Professur of Medicine. Mayo Cllnta Dr. Alvarez Some Problems in My Mail As I have said here time and again, if I were to try just to read, let alone answer, all t h e mail that comes in each day from followers o f my column, 'I would have no time left to d o anything else." I am a very busy man, , with many , respon sibilities and demands on my time, and hence I can devote only a small part of each day to answering , letters. Every morning my secretaries bring to my desk some letters of a type which they know I will answer if I can possibly find the time. They will bring also a few letters of outstanding interest, or letters that tell of a worthy cause, or letters that give me good ideas for col umns. Yesterday they brought me one in which the woman began by saying, "I know you must be a terribly busy man; so I will be brief.". Then she wrote 35 pages! Another let ter was interesting because the woman said, "I hate you; I hate you. You said epilepsy is hereditary. I have epilepsy and I have six lovely and healthy children. Now I must worry about them. So I hate you; I hate you.". Then the mother went on to . say that her fits had been due to a A STICK DOWN Birkhenhead, England-fDPD- No disrespect was intended by William Woodward and three other witnesses who failed to rise Thursday when the judge entered the courtroom here. Their clothes had stuck" fast to the newly- varnished benches. ? " " '60 CHEVROLET-THE TRUCK WITH TOTAL NEWNESS? Chevy's done the next best thing to paving every road in America with a revolutionary Torsion-Spring Ride that takes the beating out of tough hauls, saves cargo breakage, saves drivers, lets you run at faster safe speeds over any surface. Count on longer truck life and . less downtime. With its new independent front suspension, with bulldozer durability in new frames, sheet metal and roomier cabs, Chevy's got a whole new approach to truck engineering and design! Anything less is an old-fashioned truck! .L...iQ "jP1 See your local authorized Chevrolet dealer V CHEVDOLET 9th at BARTLETT MEDFORD SP 2-6115 brain tumor which was re moved surgically. If she had only known that epilepsy due to a tumor is not likely to be hereditary, she would not have had to worry about her chil dren, and she would not now have to hate me! i One of the things that often distresses me is that when I write a brief note in this col umn on, let us say, the com mon hereditary variety of epi lepsy, I cannot stop to tell of all the other types of non hereditary convulsive disor ders, due to an attack of brain fever, a tumor, a stroke, or a head injury. A type of letter which I can't even try to answer is one in which the person saysr "I have been to three special ists who can't agree as to what I should do, so you tell me!" What good would my unin formed guess be? Another type of letter, of which I get hun dreds, is from a woman who says that for: years she has been an invalid, with back aches, indigestions, headaches, stomach-aches, dizzy spells, rheumatism, fainting spells, anemia, insomnia, etc. She writes 10 pages about all these miseries, and says her doctor can't now think of anything more to do for her. Imagine my tackling that type of a problem with the patient in Nova Scotia, or Brazil, or the Philippines! Here before me are several letters from women who have been told to have an opera tion, but they cannot decide. .They want me to decide, but how can . I, without all the facts? Here is a letter about a child with congenital heart disease. The family doctor wisely called in a heart spe cialist who advised an opera tion. But the mother wonders if the little girl, who is not ill, can get by without an operation. Perhaps she can, but without talking to the doc tors, I cannot give any advice. ; A man of 87 says, "A good eye doctor is ready to operate on my cataracts; should I let him go ahead?" I can only say, "Take his advice." That brief letter I could answer, but here is a 12-page letter from a woman with a rare heredi tary nervous disease which is likely slowly to paralyze her I don't blame her a bit for asking me to tell her all about this disease; how it is inherit ed, how long will she be in a wheel chair; how long before she dies; what are the symp toms that will come next; will there be pain; will her chil dren be affected, how can she tell which ones will get the disease; is it catching; is there any medicine for it; will I send her a book on the sub ject; where is research being done on this disease; would it pay her to travel about to big clinics; what diet should she follow; would it help to go to Arizona; should she go to a quack; would, an operation help? The lady says her doc tor and her n e u r o 1 o g i s t haven't time to answer all these questions! This is a sad story and a common one; and oh, how I wish I could answer all, the questions, but like her doctors I, too, cannot take a morning off to dictate for her a small book on the disease. Worse yet, in this morning's mail are two dozen letters in each of which someone says, "Write me all you know about hardening of the arteries," or "write me everything that is known about acne, or psoria sis,' or arthritis, or ear noises, or dizziness, or the menopause, or high blood pressure!" I see I must try to find time to write some more booklets to help people like these corre spondents. V When You Have A Good Doctor - Several times a month I get a letter irom someone who tells me that his doctor has made what appears to me to have been a keen diagnosis, perhaps of some rare disease. For instance; a man just wrote to say that his doctor has di agnosed the rare "Christmas disease" of the blood. Now the patient' wonders if he shouldn't go traveling to some distant clinic to hunt for a cure My answer to him and to scores of other people like him is, "Your doctor appears to be a man of unusual knowl edge and ability; he appears to have done a magnificent job for you, and hence I think you'd be foolish to leave him and go hunting around else where. You might do much better to stay home and take his advice." Dr. Alvarez' booklet on heart trouble may be obtained by sending 25 cents and a stamped, large, self-addressed envelope with your request to Dr. Walter C. Alvarez, Dept. MMT, The Register and Trib une Syndicate, Box 957, Des Moines 4, Iowa. (Released by The Register and Tribune Syndicate, 1959) HOTPOINT WITH LOWER APPLIANCE PRICES During Their Annual Model Clearance The possibility of higher steel and transportation costs does not deter Hotpoint from carrying out their annual model clearance at drastically reduced prices. This is the event that many thrifty shoppers wait fr. I There are assured savings on every appliance offered in this sale and on many items not mentioned in tfcis . ad. Shop early for best selection. Hotpoint quality aitf these low prices are your assurance of genuine bar gain values. 44trlpoirdr 30' Pushbutton Automatic Range With Recipe Heat Calrod Units Choose just-right "Recipe Heat" of the touch of a automatic pushbutton. Automatic oven time-clock Two Oven Racks and Broiler Pan - Wide Super-Oven for banquet-size meals Full-width storage drawer Automatic oven temperature control No-drip cooktop stops spillovers Was $199.95 - Special Price jg3 ggggr. I Model RB042 i Other 39" Hotpoint Ranges J HOTPOINT 39" Automatic Rota-Grill Electric Range and Recipe Heat Calrod Units with Automatic Rotisserie and Super-Oven. Was: $299.95. Model RC282 Special Price with Trade. $199 HOTPOINT 39" Deluxe Double Oven Automatic Range Two Ovens, Super Calrod Cooking Units, Clock, and lighted back panel. Was: $379.95. Model RC302 Special Price with Trade $269 18Cu. Ft FREEZER With Exclusive Quality Features, 5 Year Food Spoilage Warranty and 5 Year Unit Warranty Reg. $479.95 SALE PRICED $10 DOWM C mmm $198 U Yfjf "I WASHER & DRYER I J -LA With Trade JLJ- PUSHBUTTON AUTOMATIC WASHER Full-time lint filter filters down deep where a filter works best. All porcelain finish protects against rust, stains, corrosion. 10-lb. tub capacity for biggest washes. 5 -Year Written Parts Q Warranty on coaxial transmission gear case. MODEL LW910 2 Door, Fully Automatic Defrost 12 Cu Ft. Deluxe REFRIGERATOR Freezer Holds 101 lbs. Overall Dimensions 64V2 High 31 Wide One White One Turquoise One Copper Tone Reduced from W5 With Trade HOTPOINT Electric WATER HEATER Quick Recovery, Two 4000w Elements 10 YEAR WARRANTY 42 GaL Table Top 52 Gal. Upright 1 You Can Not Buy a Better Water Heater Limit one to a Customer JSTOf- at Your Service for the Years Ahead 112 SOUTH RIVERSIDE 1 I
