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
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