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MedfordJH1Tribune
Regional Edition
Page 2
Steels, Electronics
Stand Out in List
New York-fllTO-Steels, elec
- tronics and some specials
stood out in a firm and mod
erately active stock market
todav. !
Support came into the list
after a ragged opening that
enabled a number of the lead
ers to extend earlier gains
and others to come up from
their lows.
U.S. Steel jumped more
than 2 in the recently depress
ed steel section, while Nation
al added nearly 2 and Youngs
town, Lukens and Bethlehem
were all up a point or more.
Electronics were still fa
vored with General Time and
Zenith up more than 2 and
Raytheon and Motorola ahead
by more than a point each.
Texas Instruments sold off
around 1. DuPont and Thiokol
added more than a point each
in the chemicials.
U. S. Rubber
U. S. Steel
Youngstown S&T
82
New York (CPU Dow
Jones final stock averages:
30 industrials 634.46 off
7.25; 20 rails 146.81 off
2.64; 15 utilities 85.93 off
0.74: 65 stocks 207.57 off
2:53. Sales Monday were
.' about 3.710.000 shares com-
pared with 3.450.000 shares
lasf Friday. . . .
Monday's prices on ' selected
stock:
Allied Chemical
Alum Co. Am
American Can .
American Mtrs .
AT&T
Anaconda Copper
Armco Steel
Bendix Av .,
Bethlehem Steel -
Boeing Air
Caterpillar Corp ...
Chrysler Corp (xd)
Continental Can
Crown Zellerbach
Curtiss Wright ;
Dow Chemical
Du Pont
Eastman Kodak .
Firestone
General Electric
General Foods ...
General Motor .
Georgia Pacific
'Graham Paige
Greyhound
Gulf Oil
Homestake Mining
Idaho Power
J. B. M.
Int Paper .
Johns Man
Kennecott Copper
Lockheed Aircraft .
Katy
Montana Power Co. .
Montgomery Ward .
at 1 Biscuit
New York Central .
Pac G & El
Penney. J. C. i., ,
Penn HR
Radio Corporation
Richfield Oil
Safeway
Sears ...
Shell Oil
Socony Mobil Oil
Southern Co
. Standard California
Standard Indiana
Standard N-,J.:
Sun Mines
Texas Co
Texas Gulf Sulfur
Tex Pac Land Trust
Transamerjca
Trans Wld Air
Tri-Continental
Union Carbide
Union Pacific
United Aircraft
U. A. L.
Five Youths Die
As Auto Plunges
Over Steep Bank
Longview, Wash. (UPD - A
car plunged over a 35 to 40-
foot embankment into the
Mount Solo slough Monday
night, killing five teen - age
boys. One youth escaped.
, The dead, all from Long-
view, were Jerry Walston, 15,
and his brother Floyd, 13;
Bill Webster, 16, and his
brother Dick, 13; . and -the
driver, Douglas Randolph, 17
Francis Hughes, 16, was the
only survivor.
The sheriff's office said the
car was traveling at a high
rate of speed when it plunged
over the steep embankment
into about 20 feet of water,
Hughes was able to swim
to shore. The others were
trapped in the wreckage.
Youth Shaken
Hughes, huddled in a blan
ket, and dazed and shaken by
his ordeal, told officers about
the accident.
The boys had been on a
ride. The car missed the turn
and landed in the water,
Hughes said.
Sheriffs officers said the
mishap was apparently caus
ed by excessive speed. The
Hughes boy said the car hit
loose gravel and Randolph
lost control.
The car hurtled off the Wil
low Grove dike and landed
in Mount Solo slough. The
accident scene was about a
mile and one -half west of
here.
Police said skindjvers had
attached a cable to the sub
merged car Monday night and
efforts .were being made to
pull the car back onto the
dike. There was no beach
where the car left the road,
only a sheer bank.
ICE SALT' DAMAGE ,
Chicago - (UPD - Corrosion
damage because of salt spread
to thaw snow and ice on high
ways will cost the nation's
auto owners about $10 million
this winter, the Rust-Oleum
Corp. predicted today. De-icer
salt has been the major cause
of rust damage, and is es
pecially hard on chrome, muf
flers and tail pipes, the com
pany said. ;
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Experts Conflict
On Subject of
Excise Taxes
Washington -(DPD- Congress
got conflicting advice today
on whether the federal gov
ernment should rely more
heavily on excise taxes to
meet its money needs.
The House Ways and Means
Committee, in the second day
of a five-week inquiry into
ways of making income taxes
more fair, called for testimony
on the relative role of the ex
cise levy from a panel of ex
perts." . . - .
i The question of broadening
present excise taxes eyen to
the extent of enacting a na
tional sales tax popped up in
advance papers submitted to
the tax-writing committee by
several of today's scheduled
witnesses.
Suggests Tax Cut
William Fellner of Yale
University suggested that in
come taxes be revised with a
15 per cent, across-the-board
cut in rates, coupled with a
$100 increase in personal
exemptions. Together,- these
would reduce federal revenue
S9 billion a year.
Fellner proposed offsetting
this with a retail sales tax of
7 per cent, applied to about
40 per cent of national con
sumption.
He conceded his suggestion
was controversial but termed
it a "reasonable compromise."
John F. Due, a University
of Illinois economics profes
sor, said in his paper, how
ever, that a federal sales tax
would hit hardest at lowest in
come levels elderly retired
couples, large families, and
young "couples as well as
cause businessmen consider
able nuisance and expense."
Favors Excise Taxes
Gerhard Colm, chief econo
mist of the National Planning
Association, said a federal
sales tax not only would boost
costs of tax administration but
invade a field that has largely
become that of the states.
' More reliance on excise
taxes instead of on income
taxes was advocated by Ralph
Robey, economic advisor of
the National Association of
Manufacturers, which has
called for "compression" of
the spread between percent
age tax rates between low and
high income brackets.
Robey said present excise
taxes are "discriminatory and
inequitable" because they ap
ply to some products and serv
ices but not others. He pushed
for a "uniform" excise tax,
denying that this amounting
to a federal sales tax rwould
place a burden on any parti
cular economic group as op
posed to another.
Continued Cold
Weather Expected
Washington (DP& The
Weather Bureau predicted to
day that the nation would be
lashed with continued wintry
weather during the next 30
days . with' "only transitory
periods of warmth." .
In its regular 30-day fore
cast, the bureau said temper
atures would average below
seasonal normals in the area
between the Appalachians and
the' Continental Divide.
The coldest weather was ex
pected in the central and
northern plains. Above norm
al temperatures were predict
ed in the far Southwest and
the Atlantic coastal strip.
Precipitation was expected
to exceed normal over the
eastern one-third of the na
tion, the northern plains, the
far Southwest, and the central
and southern West Coast All
other areas would record near
normal amounts except for
subnormal precipitation over
the Pacific Northwest, the
bureau predicted.
Independent Bankers
Pick McMinnville Man
McMinnville (DPD A Mc
Minnville man, James H.
Stanard, has been named
president of the Independent
Bankers Association of Ore
gon. He is executive vice
president of the First Nation
al Bank of McMinnville.
GREEN OR DRY
RED FIR
SLABS
.Immediate Delivery
PHELPS FUEL
SP 3-5878
TAKE IT EASY! -Two cases of infectious nurse Mrs. Gretta Reed gives three-year-old
hepatitus have been reported in Irondade, Kathy Trembath the needle. Holding Kathy
Colo., the water-pollution plagued communi- is her mother, Mrs. June Trembath and
ty north of Denver. Health officials have -waiting their turn are Sharon, 10; Douglas,
deemed it necessary to give gamma globulin 9, and Gayle, 2. ' -
shots to all residents. Here public health 1 (UPI Telephoto)
Court Monitors WiDD Speed
Efforts To Remove .vHoffa'
- Washington - (UPD Court
appointed monitors vowed to
day to speed efforts to force
the ouster of Teamsters' Presi
dent James R. Hoffa and his
cronies from union office.
Monitor Chairman Martin
F. 1 O'Donoghue made the
pledge following a Supreme
Court ruling which permits
enforcement of his anti-corruption
drive within the giant
truck union.
Hoffa also faced possible
trouble on another front. La
bor Secretary James P. Mit
chell said Monday night he
had asked the Justice Depart
ment to check whether the
Teamsters were fully obeying
the labor reform law's ban
on ex-convicts holding union
office.
To Check Accuracy
' Mitchell said Hoffa had ad
vised him that only "a few
Teamster officers" were forc
ed to resign because of the
ban. The secretary added,
"the Justice Department has
been asked to look into the
accuracy of this report."
The Supreme Court refused
Monday to interfere with low
er court decisions upholding
the clean-up directives issued
by the Teamster monitors. . It
was a major setback for Hoffa
and some of his top lieuten
ants who have been tagged
for removal, by the watchdog
group. .
O'Donoghue indicated h e
would try to nail the Team
ster chief for his part in a
Florida -real estate deal in
volving use of funds belong
ing to Hoffa' home Local 299
in Detroit.
The monitor chairman said
he would ask a federal court
early next week for power to
go ahead with an inquiry into
the Florida transaction.
Might Ask Hoffa'f Removal
If the courts find that Hoffa
misused union funds, O'Don
oghue said they might direct
Hoffa's removal as provision
al president of the Teamsters.
The court also might order
the union's executive board
to bring charges against Hoffa
looking toward his permanent
ouster and expulsion from
membership in the 1,600,000
member union, O'Donoghue
said.
Expulsion would prevent
Hoffa from running for office
in the Teamsters. It would be
the most extreme penalty the
union could impose on him.
Neuberger Adds
Water Provision
In Seashore Bill
Portland-UPD-Sen. Richard
L. Neuberger (D-Ore.) today
announced a new provision
for inclusion in his Oregon
Dunes National Seashore bill
which would provide for in
dustrial use of water from
Siltcoosand Tahkenitch lakes.
The proposal would make
possible adjustment of water
levels in the two lakes within
the boundaries of the Sea
shore plan and permit re
moval of water for industrial
purposes, Neuberger said. The
latter hinges on approval 6t
the Oregon Water Resources
Board.
Propmt Report Promised
The senator also said that
the Secretary of the Interior
has assured him that the In
terior Department "will do all
possible to furnish a prompt
report on the revised Oregon
Dunes Seashore bill when it
is introduced and referred to
the Department by the Senate
Interior Committee."
' Neuberger said his revised
bill, announced Oct. 26, did
not provide adequately for in
dustrial use of lake water
utader state control. The new
provision would clear this up.
Eugene ilk Hunter
Injured by Bullet
Heppner -flJPD- Wayne Ells
worth Hoffman, 29, Eugene,
was reported in "fair", condi
tion today in a Heppner hos
pital suffering from a bullet
wound in the leg.
Hoffman was shot in the
right knee Sunday while elk
hunting with a companion
near here.
SCULPTURES SOLD
London-flJPD-Seven ancient
sculptures that had been
painted over and used as
decorations in a snack bar
were sold Monday for $39,760
at Sotheby's Art Auction
House.
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INSURING WORDS
Pacoima, Calif .-fUPD-A hold
up man clipped the Citizens
National Bank Monday for
$1,335 but bad a sympathetic
word for clerk Pam Quezeda
as he fled. "You're insured,"
he consoled.
ZOOLOGIST DIES
Naples, Italy-(UPDProf. Um-
berto Pierantoni, 83, noted
zoologist and president of the
Naples Academy of Science,
died Monday night.
1 Carlos Morris 1
Managing partner of Conger
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