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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Dec. 1, 1959)
Stock Transactions To Date Cross Total for All of 1958 By ELMER C. WALZER UPI Financial Editor .- New York HTD Stock transactions on the New York Stock Exchange for 1959 to ' 'J' date have -r. 1 crossed the J 1 tol for all of f k7 $ 1958 and set t a new high M for this time timer wizr 1930 stock ales , t o t a 1 e d 747,058,306 shares. That was the fourth largest year in market history, having been exceeded by 1928, 1929, and 1930. If trading during December runs at the current average, the 1959 total will cross the 1930 figure and result in the third largest year, exceeded only by 1928 and 1929. Suppose this stock market were measured like a steel plant. You then could say it was running at less than 15 per cent of capacity. And that, as everyone knows from watching the steel figures dur ing the strike, isn t much. Means Total Shares By capacity here we mean the total number of shares listed. Back in 1929 when sales for the year crossed the billion mark for the only time in the market's history there were slightly fewer than a billion shares listed. By the latest count, Oct. 31, there were 5,685,000,000 shares listed. If we were to operate at full capacity, daily sales would have to average more than 22,600,000 shares daily. In 1929, sales averaged 4, 276,808 shares daily and the shares then listed were turned over 1.19 times or 119 per cent. During September and October of this year the turn over amounted to 13 per cent. ' There are two mighty dif- See COMMERCIAL CREDIT PLAN Call Commercial Credit Plan whenever you can use extra cash. Our loan service is fast, friendly and convenient. Rates are reasonable. That's why thousands of families, prefer to use Commercial Credit Plan It's the pay way that fits your pay day! 1 Hx 1930- 1 mall of OXjK I 1953, the larg- I I est year since HOW MUCH DO YOU NEED? Cash Monthly Paymtntj For Y Got 24 Mo. 18 Mo. 12 Mo. $100 ? 9.25 200 $10.41 $13.07 18.51 300 15.62 19.60 27.77 500 26.04 32.67 46.29 750 39.06 49.01 69.44 1000 52.08 65.35 92.59 A service offered by Commercial Credit Plan, Incorporated of Medford 311 N. OARTLETT ST. Phone: SP 3-3664 ferences between this market and the one in 1929. Investment Market Now They are:-1. This is an in vestment market and that pne was a speculative market; and 2. Taxes today are far higher than those of 1929 and they lock in many an investor of means. Suppose you bought $1, 000,000 of stocks ten years ago at a yield of 6 per cent which is not out of line. You would be receiving $60,000 annually in dividends today and your stock probably would be worth $2,000,000. If you sold the whole amount, you'd have a profit of $1,000,000 on which you would have to pay a capital gains tax of $250,000. That would leave you $1, 750,000. If you invested that at today's prices, your return would not run more than 3 per cent or $52,500 a year and What Is The Law? This column is prepared as a public service by the .Colleqe of Law. Willamette University," Salem, to explain basic legal principles, not to provide legal advice. The reader is cautioned not to apply these cases to bis own problems -without an attorney's advice, for differing facts may change the outcome. Guarding The Wayward Son Against His Weaknesses Junior had never learned the value of the dollar and was addicted to games of chance and expensive lux uries. His father was able to provide very adequately for Junior but it was quite ev ident before Junior reached his 18th birthday that he was going to have great difficulty keeping out of the "poor house." What can be done to protect Junior from his own weaknesses? The modern trend of the law is to make assets more readily transferable. . Most rights can be disposed of without difficulty under the present law. The courts have even recognized that a per son can sell his birthright. For instance, Junior, assum ing that he is of age (21), could sign a paper which stated that Ae sold all of his right to inherit from his fa ther and mother to a designat ed person. Originally such in tangible assets (a person's birthright) could not be as signed. However, recently such rights have been assign able if adequate money or property is given in exchange for them. Property in Trust Probably the most effective way for Junior's- father to provide Junior with a secure livelihood is to place certain property, in trust for him. Le gal title to the property is transferred to a trustee (us ually a trust company spe cializing in handling assets for others) and the trustee is directed to periodically pay the income from the property to Junior.' The document providing for the trust should contain a provision which states that Junior does not have the ca pacity to. anticipate any of these payments. This provis- Milk Drinkers Like It Fortified Washington (Science Ser-vice-A sweeter taste may be why two-thirds of those par ticipating in a recent test preferred milk with added non-fat solids to regular milk, the U.S. Department of Ag riculture reported here. Milk fortified with varying amounts of non-fat solids was tested with nearly -100 fam ilies and in college milk-vending machines in St. Paul, Minn. Each family received two bottles of milk, one forti fied and the other regular. They were asked to report which they liked better, not knowing which was which. About 80 per cent of the fam ilies and 66 p6r cent of those using the vending machines reported they preferred the fortified milk. The test milk was fortified at different .levels, varying from a total non-fat solids content of 816 per cent to 11 per cent in weight. Normal milk contains from 8.4 per cent to 9.2 per cent non-fat solids. . Broken Meter Taken To Police by Driver Ashland -A local motorist left evidence Monday that he' was tired of contributing nick-' els to the city's parking meter kitty. A passerby found the meter, ! which had been knocked com- j pletely off its stand, shortly'; after 11 a.m. and delivered it' to Ashland police. He had a short walk. The ; meter was located only a half block from police headquar-j ters. ' i In 1958 France shipped to the United ,States 2,525,000 bottles of champagne. you'd have high-cost stocks on your hands. Your annual income would be cut by S7.500. So why sell your stock? That's what the wealthy stockholders think. If they should die while holding the stock with a big profit, the capital gains tax is out and the . estate tax takes over. Wealthy Might Sell Now, say the Wall Street experts, if the capital gains tax were cut in half, the wealthy might sell some of their holdings, making the market more liquid and less subject to the wide swings that come in what is described as a thin market, not much stock available for sale. With many looked in by taxes, it is doubtful in the eyes of the experts that we'll see a turnover like that of 1929. The tickers couldn't take it anyhow. ion makes it impossible to sell his rights under the trust and for Junior's creditors to reach his rights. It is palled a "spendthrift" provision and the trust is generally known as a "spendthrift trust." Certain Exceptions The courts have recognized certain exception to the rule that the "spendthrift" provis ion freezes the spendthrift's rights in the trust until he realizes on such rights in the form of cash. Creditors who hav furnished ' him with, items which would not fall within the luxury classifica tion can reach spendthrift's rights in the trust. Likewise, the state-and federal govern ments can satisfy their tax claims against the spend thrift out of the trust. Many courts also permit the di vorced wife of a spendthrift to take over his rights in the trust if the spendthrift is de linquent in his payment of alimony or support money. With the law as it now stands a person of legal age who has not been- adjudged mentally incompetent can dis sipate his property quite free ly unless a trust is set up in his behalf. PENNEY'S SOCKS OF DU PONT Argyles ... so neat looking 'n comfort able you'll find it hard to tell these Penney Orion socks from expensive hand mades costing much more. They're nylon reinforced at the heel and toe for extra long wear, too! Take your pick of solids and heather tones in light grey, light blue, camel, navy, dark grey or cordovan. There's so many interesting patterns you'll want several pairs. FIERY SKELETON Only the flaming skeleton remains of this small Piper Tri-Champ after it crashed and ex ploded atop the house of Mr. Harry Gaffney in Compton, Calif. The plane, attempting to land at the Compton Airport, struck a high tension wire, dove into the house and exploded, killing pilot Norman W. Thomas of Tor rance. Mr. and Mrs. Gaffney and their four "children, who were asleep below, escaped injury. ' SOC Students Are Ashland - Southern Oregon college students today began a two-week drive to collect English language textbooks for Korea's war-torn schools. Needed are dictionaries, books on history, literature, art, music, science, mathema tics and virtually any other field covered in college class rooms. The drive was launched af ter SOC received a letter from the Korean-American Scholar ship committee in which ' it stressed the need for text books. Twenty-five per cent of Korea's classrooms and 90 per cent of her libraries were de stroyed during the conflict in the early 1950s. ' Since English is the second language of Korea students HOLD PROTEST RALLY Damascus, United Arab Re-public-(UPD-Several thousand persons demonstrated against Israel Sunday in a mass pro test rally marking the 12th: anniversary of the United Nations decision to set up an independent Israeli state. TOWNCRAFT RICH 100 ORLON' . . rJV MRPPB - runn .i i him Collecting Books begin studying it in the sev enth grade the lack of texts printed in English is a major problem. Receptacles for the books are located in Britt Student Center, Churchill hall, and the library. The drive will end Dec. 15. Applications Being Taken for Courses Applications' are being ac cepted at . Medford High school's adult education office for enrollment in the quto mechanics and electronics codrses, Lindsay Vinsal, di rector of adult education, has announced. .? These two-year courses, which will meet from 3:30 p.m. to 10:30 p.m. daily, will continue until May, 1962. However, they will not meet from mid-May to mid-September. Applicants may call at the school between 8:30 a.m. and 5 p.m. The spring term will begin Feb. 15. Famous for wear and ;.:-;:;X;:;::!::;:;i;:-::X;-;:; luxury softness!, men's sizes 10 to 13 Schools Participate Jn Clothing Driver Medford public schools are participating in the annual Save the Children Federation Bundle Days Clothing collec tion program, according to School Superintendent Dr. Leonard B. Mayfield. Leocal schools participate in the nationwide program, which started today and ends Dec. 4, on a biennial basis, Dr. Mayfield said. The federation, a non-profit, non - sectarian organization, sends the clothing to children, in underprivileged areas : at home and abroad. Clothing this year is especially needed in southern areas of the U.S. Those wishing to donate may take clothing to any Med ford school or send it to school in care of any neighborhood child. Some needed items are kept in local areas for distribution while others are forwarded to the federation in St. Louis, Mo. , Especially needed this year are all types of shoes, sweaters and overcoats. Clothing do nated should be clean, mend ed, and serviceable. Spokane-(UPD - The Western Forestry and Conservation As sociation will hold its 50th anniversary convention here Dec. 9-11. LUXURY FABRIC LOOKS TO FALL IN THREE TOP COLLAR STYLES! Here's dress shirt value you've learned to expect from Penney's! Luxury pime cotton broadcloth you can machine wash with little ironing needed. The newsi They're only 2.98! Extras, too! Get Penney's famous proportioned fit, qualir tailoring, choice of 3 collar styles. Get permanent collar stays, convertible cuffs Get sparkling' white fabric thafs completely Sanforized?! Compare everywhere it's another value-packed Penney buy! SHOP PENNEY'S . . . youll live better, you'll save! Optical Mirrors Affect Velocity New York (Science Ser vice) - The mirrors used in optical experiments may af fect the value found for the velocity of light, two scien tists reported here. They made their sugges tion to account for the dif ference in the velocity of light, a fundamental quantity of physics, when determined by optical as against radio freque-ncy methods. The lower ; values found optically are too large to be due to experimental errors, so Drs. Richard A. Miller and Adolfo Lopez of the Manila Observatory in the Philip piens suggest that the differ ence results from the time taken by reflection at the mirror surfaces used in optic al methods. Drs. Miller and Lopez at tempted to calculate the de lay of visible light during re flection from silver and found that it accounted for the dif ference between the early op tical and recent microwave determination of light's velo city, which is about 186,000 miles a second. Their sugges tion is outlined in the Journal of the Optical Society of America. Use Tribune Want Ads Ithaca, N.Y. -dUTI- Cayuga lake was named after an In lian tribe which was one of the members of the storied Iroquois Confederacy. The Cayugas referred to them selves as ','Guy-y-gweh-o-no." or "the people of the mucky land," a reference to the marshlands at either end of the narrow lake. But the Iro quois name for the lake was "Tiohero" or "clear water." f You don't have to be rich to enjoy 1 I RICH BOURBON J I Cod. USB. IOidQdmge I A BARREL OF QUALITY IN EVERY BOlT'l . $ii6HiiouuoiiHi5ET.uMtn)f .ouQuatii$muco,uifictiun,iiifc. MAIL TRIBUNE, Medford, Or. Tuesday, Dec. 1, 1959 THE ENEMY -". Hartford, .Conn.-OJTD-Lerov; Rakestrau was accused of nailing the doors of his home shut because he was sore at his mother-in-law. He said she had moved in to "estabr lish a beachhead for her son who is coming out of th Army." Short point fusod collar Soft, short widespread collar Soft, short point collar K
