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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Dec. 11, 1959)
Stock Market Range in 1960 Forecast Between 625 and 725 By ELMER C. WALZER UPI Financial Editor New York - (LTD - The Fitch jurvey of stocks and bonds in its 1960 forecast sets next TUl year's stock "f"yf market in a J ,'-r,4;I 7 2 5 in the Bow-Jones in dustrial Aver age, and a low of 625, a 100 noint ranep. Elmer Walxer The survey finds there is sufficient vigor in the business and economic picture to propel the market upward in the, first half of the year. Thereafter several pitfalls may bring it down to the 265 level, the firm says. "Between these spreads," Fitch says, "there should be ample opportunities for re warding profitable commit- Dawkins Named fo Coordinate Project William Dawkins and Asso ciates, Medford and Portland public relations, firm, has been named to coordinate and publicize the rebuilding pro gram in downtown Roseburg, a project resulting from the explosion which demolished a large area in the business sec tion Aug. 7. The Dawkins firm will co ordinate the work of various local committees and govern ment and private agencies en gaged in the rebuilding pro gram, and will publicize the project on state and national levels. Simultaneously, the public relations firm will work with the Roseburg Chamber of Commerce on an intensified industrial development pro gram. A light industrial park is one part of the overall plan for rebulding the devastated area. Preliminary requests will be filed this week for urban renewal funds to clear the area and make land available for private developers.. Rose burg, advertised as the "Tim ber Capital of the Nation" plans to follow a rebuilding pattern making extensive uses of wood and turn the downtown area into a "stand ing advertisement for timber products." ments, providing sufficient care is exercised in arriving at investment decisions." Like other recent forecasts, the Fitch survey sets Gross National Products at a record high. Its figure of S514 for the GNP is somewhat higher than the others. It looks for 160 in the production index, (a new top. A four to five per cent rise in personal income "should have a favorable effect on consumer spending which should find retail trade boom ing and record automobile output benefiting from in creased output and consumer purchasing." Advert Factor On the other side of the coin, Fitch finds several ad verse factors "which could bridle a very good business year in 1960 and a seething stock market." These include critical steel shortages if the strike is set tled or not, tight money brak ing business and reducing res idential building; a further decline in farm income; pos sible levelling off in consum er instalment buying; and prospect of a further wage price spiral. "Some machinery of com pulsory arbitration seems a Bids Opened for New GP Bus Shop Grants Pass Ball Con struction company, Grants Pass, submitted a low bid of $38,799 for construction of a county school bus mainte nance shop building adjacent to the Josephine County fair grounds. Bids were opened here Tuesday. Other bidders were Aus land Construction company, $40,200; Clyde Hamilton, Grants Pass, $40,565; and Cummings Construction com pany, $42,000. The building, which was de signed by Architect Jack A. Edson, Medford, is over 5,400 square feet and will be of block masonry construction with wood glulam beams and roof construction. Construc tion is scheduled to start im mediately with completion scheduled for sprir.g. Court Records MUNICIPAL COURT Alvin Harold Hiebert, Improper left turn. $3. James Charles Vallentine, .follow ing too close. $15. Charles William Collins, failed to yield right of way to pedestrian, $5. John. Irwin Nichols, disobeyed traffic signal. $10. Charles Arthur Katzenbach, ex cessive noise. $5. George Michael Monroe, disobey j traffic sign. $5. Dale Allen McCay, no operator's license in possession, $10. Herbert Hunter, violation basic rule. $10. Murray Mack Walters, following too close, $25. Franklin Ray Llndsey, improper left turn. $5. Ambrose B. Wyckoff, failure to use truck route, $10. . Gary Robert Johnson, violation basic rule, $10. Willard Garland Harwood Jr, dis obeyed traffic signal, $15. DISTRICT COURT Chauncey R. Beck, overload, $65. LeRov G. Krueger, overload. $50. Gerald L. Israel, no bill of sale for Christmas trees. S25. Harlen Lee Harmon, failure to top. $10. Robert V. Keller, Cave Junction, driving while under the influence of intoxicating liquor. $255. Walter E. Adams, overload. $157. Willard C. St. Arnold. 348 West Pine st, - Central Point, driving while under the influence of intoxi cating liquor. $255. Duane E. Hardon, truck speeding, $15. Elwin P. Simmons, failure to tag deer. $10. . Theresa B. Rasmussen, failure to stop, $10. CIRCUIT COURT ' Donald E. Tackley vs. Elizabeth B. Tackley, divorce complaint. MARRIAGE LICENSE APPLICATION George Carl Amrhein. 2413 Kings ' highway, and Lorna Belle Madison, 211 North Ivv t. Jerry Alexander Wattans. 510 South Central ave, and Nelda Grace Webb, Butte Falls Star route. Eagle Point. LeRov R. LaPorte. 917 East Pine st Central Point, and Judith A. Korbol, 160 HaskeU st.. Central Pjoe" Blass SuUivant, 2821 North Pacific highway. Medford, and Dar lene Mae Graves. 6348 Crater Lake Gerald Lee Butler. 202 North Front st., and Patricia Lynn Peff ley, 60 Nortk Orange at. Two loco Men Attend Forestry Conference Dale Prantice, secretary manager of the Southern Ore gon Conservation and Tree Farm association, and Calvin Smith, area representative of the Industrial Forestry associ ation, are attending the West ern Forestry conference in Spokane, Wash. About 800 western foresters and private tree farm managers- from 11 western states are attending the three-day conference. Delegates were welcomed by Idaho Governor Robert E. Smylie, and John L. Aram, vice president of the Weyerhaeuser company, Tacoma. logical remedy for key indus tries, if other efforts at nego tiated settlements fail," the survey says. "Excessive borrowing and excessive inventory accumu lations, in spite of credit poli cies geared to curb such ex casses during the recovery pe riod next year, might well be sufficiently strong to create a serious maladjustment, that might have to be corrected by a business setback. "These are some major fac tors which may contribute less to the climbing economy in the months ahead. Timing Called Essential "Based on these probabili ties, it appears from an in vestment point of view that it will become increasingly important to time one's in vestment and speculative de cisions properly as signifi cant risks could be present. "Under these circumstances, it would be wise to stay in vested in well-chosen diversi fied issues where income and long-term growth are reason able expectations." The survey holds that 'no matter what labor troubles develop they cannot fail to reach an eventual solution.' But it warns that we seem to be destined for another round of higher wages, result ant higher costs and prices, another round of inflation, and a continuing decline in the dollar's value. Sufficient Vigor "The preponderance of evi dence," the survey concludes, would indicate that there is sufficient vigor in the busi ness and economic pictures to propel the stock market for ward, as measured by the Dow-Jones Industrial Average to the vicinity of 725, before it subsides later in the year. "On the other hand, the problems which make for a more cautious approach and could dominate the stock market atmosphere later in 1960 could repel a recovery movement back to the 625 level on this premier index." FRONT ROW SEATS-Just like tourists, camera, et al, Presi dent Eisenhower's son, Maj. John Eisenhower, and his wife, Barbara, have front row seats for a tent pegging display by President Mohammed Ayub Khan's elite mounted bodyguard at Karachi, Pakistan. (UPI Telephoto) . - All of the outstanding stock of Pioneer Sand& Gravel Company SEATTLE has been acquired by Lone Star Cement Corporation NEW YORK Negotiations leading to the acquisition were conducted by United Pacific Corporation SEATTLE Investment Securities Affiliate: Pacific Northwest Company December 1, 1959 The do-it-yourself trend in rug cleaning could push sales of carpet cleaning compounds to $20 million this year a 20 per cent Increase over 1958 MAIL TRIBUNE, Medford, Or. and double 1954 volume.. I Friday. Dec. 11, 1959 SELBY GLASS CO. 15th ANNUAL CHRISTMAS TV AniTMTTN T V iVi u uu ' Fi 1 & f ' , j. I ' 3i jr Gifts for Christmas Gifts that last a lifetime. "High Fidelity." Good grooming requires a mir ror. 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