"'PSaBSSnpBeeMe
4Mm
BOATS CUDDLE FROM COLD Great Lakes ore boats
cuddle together for the winter away from freezing Lake
Michigan as carriers are berthed in a slip on James Island,
Milwaukee. This photo was made from a helicopter with
Do-It-Yourself Investors
Have Their Troubles Today
By ELMER C. WALZER
UPI Financial Editor
New York - d'PD - Today's
do-it-yourself stock investor
has his troubles.
He is told
the stock mar
ket soon may
be getting se
vere competi
tion from
bonds, that
many stocks
are priced too
high, that
there is a pro-
EbnerWalzer spect of infla
tion being licked at least tem
porarily, that this or that
group of stocks has run its
course, and many other
things.
Even the experts have their
troubles. The group at the
Stock Exchange firm of J.R
Williston and Beane say the
questions being asked are
how much longer a specula
tive boom can last, how much
more market activity can it
support, and how much high
er are stocks likely to go be
fore it ends.
Thereupon, they assert:
"Asking the questions and
having the answers, however,
are not precisely the same. .
"We have no idea how
much the tempo of specula-
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tion could or should increase
to signal a buying climax, if
indeed such a climax is nec
essary, or even whether the
kind of uninformed specula
tive enthusiasm we now see
directed toward groups like
the electronics need necessar
ily be followed by a collapse
of other values in the classical
tradition.
"The world we live in to
day has changed so much
from anything we have
known as to give little basis
for comparison.
"Moreover, psychologically
speaking, today's stock mar
ket, at least in our opinion,
has withdrawn so far from
reality as to resist normal
analysis."
Exceptions
The firm believes there are
many individual exceptions
and among these exceptions
will come the investment op
portunities of 1960.
Thereupon it hits upon an
old formula-pick the wall
flower stocks.
Many a stock has done
nothing while the favorites
have soared. And many of
them have been sound issues.
Then has come a time when
the lackluster but respectable
wallflowers suddenly became
popular, and often this hap
pens when the general mar
ket reverses trend.
The firm recalls how the
grocery chains, utilities and
tobaccos were a bore to the
speculators from the summer
of 1957. Suddenly as the mar
ket fell in the leading aver
ages, these issues became the
strong favorites.
Troubles Ahead
But here, too, the do-it-yourself
investor has his
troubles. The Williston and
Beane firm warns that you
just can't expect to find
things so simple that the suc
cessful stocks of 1957 will be
the successful ones in 1960.
The defensive stocks of
1957-58 are still considered
fairly high. Hence something
new must be found.
The best prospects as the
firm finds them are: 1. The
stocks which never have
come into favor during the
past four or five years and
are thus free of popular over
valuation, or 2. Stocks of
those companies that have es
tablished good enough im
provements in earnings and
dividends to keep pace with
the general rise in stock
prices and still provide a
good dividend yield and rea
sonable price-earnings ratios.
The second group appeals to
the firm more than the first.
Times Chang
Things certainly aren't
Appling Might
Not Be Candidate
Saiem (UPD - Secretary of
State Howell Appling Jr. said
Monday that there is a 35 per
cent chance that he might not
run for the office at the next
election.
He emphasized, however,
that he has not made a final
decision in the matter and
"there is a 65 per cent chance
that I will run for election."
Appling was appointed sec
retary of state by Gov. Mark
Hatfield one year ago. Under
the law, he must stand elec
tion this year and in order to
do so, would have to announce
his candidacy in the primary
by March 11.
n..rr r, irT-v.-y.v.V.VW"'
distortion-free plastic nose "bubble," using a 35mm camera
with "super wide angle" lens. Unusually clear atmospheric
conditions prevailed. (UPI Telephoto)
what they were ten years ago
at the start of the decade of
the 1950s. Back there the
Dow-Jones industrial average
had climbed to the 200-level
and high grade investment
stocks sold for 8 to 10 times
earnings to yield 5 to 6 per
cent.
These were the days, as the
firm recalls, when specula
tive stocks could be bought
by the bushel basket at fire
sale prices, and only a small
minority of infinitely patient
investors were looking hope
fully into the future for a
possible great bull market
like that which had occurred
in the decade following World
War I.
Today the industrial aver
age is nearing 700, price
earnings ratios are very high
and yields are very low with
bond yields very high.
Back there 10 years ago,
Wall Street falied to follow
its own adage: "Buy 'em when
nobody wants 'em," and now
it isn't following the other
part of that adage which says,
"Sell 'em when everybody
wants 'em."
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Actress Jeanne Crain
Mother of Sixth Child
Hollywood - (UPD - Actress
Jeanne Crain, 33, gave birth
to her sixth child, a daughter,
Sunday at Queen of Angels
Hospital.
Brigitte Bardot
Gives Birth to Son
Paris - (UPD - Brigitte Bardot
gave birth Monday to a seven
pound four ounce boy in an
accouchement so well publi
cized that crowds gathered
outside her West End apart
ment to cheer.
The 25-year-old movie star
who married 25-year-old mat
inee idol Jacques Charrier
last June 18 named her first
born Nicolas. The birth was
reported to have been with
out difficulty and both mother
and baby were "doing fine."
Brigitte, whose scantily
clad movie romps made her
a symbol of sex in France, is
the highest-paid movie actress
in French history. In a few
years her figure and the few
wisps of cloth which usually
covered it rocketed her from
obscurity to such fame she
is known merely as "BB."
Balance Control.
to Choose From
MEDFORD, OREGON f
ploys stereo as one compact emt. J V27 A.
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earn
MAIL TRIBUNE, Mrfford, Or.
Tuesday, Jan. 1 2. 1 960
Construction in 1959
Makes Record Year
Construction in Medford
set a new record in 1959, al
most doubling the previous
high year, according to the
city building department's an
nual report.
The total value of the 1,846
building permits issued in
1959 was $10,994,944. This
can be compared to the 1958
totals of 1,139 permits issued
having a valuation of $5,778,
527, which was the previous
record year. (
The new Rogue Valley
Manor was the largest single
contributor to the record total
with a $4,693,616 valuation,
but even without the manor,
1959 remains a record year.
New homes contributed the
second largest sum to the
total with 208 new homes be
ing built having a valuation
of $2,666,600. Permits were
taken out for 25 new busi
nesses having a valuation of
$1,730,754.
Also contributing to the
total were 15 swimming pool
permits, three church permits
and one new motel.
COLLINS' BOOSTERS
Panama City, Fla. - (UPD -Franklin
D. Roosevelt Jr.,
said Sunday Florida Gov.
Leroy Collins is the man most
mentioned for vice presi
dential nominee among Demo
cratic leaders Roosevelt has
talked to across the country.
Woild's
14
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I Also available in 4-Door sedans and station wagons.
See the New
The Family Council
Editor's Note: The Family Council consists ot a Judge; a psychiatrist,
three clergymen, a newspaper editor, a women's editor and two writers.
Each article is a summary of an actual -ase history. The Council reports
on problems that have been dealt win by responsible agencies and
counselors.
Mrs. P. V.-She has no right
to explode in my face.
Harriet V.-They shouldn't
interfere.
Mrs. P. V.-My daughter-in-law
and I have had a serious
argument and I feel she owes
me an apology.
My husband recently asked
our son how he was getting
along financially. He knew
Bill had some debts a year
ago and was worried about
whether or not he had gotten
ahead. My husband is unable
to work at this time and we
can't help them-which makes
us worry even more about
their financial difficulties.
Anyway, it was all meant
in a good spirit, but my
daughter-in-law didn't think
so. She came to me fuming,
saying we had no right to
interfere in their financial af
fairs. We didn't interfere. My
husband just asked. Is that
a crime? Harriet had no right
to explode in my face.
Harriet V.-I certainly feel
that in-laws have no right to
stick their noses into a young
couple's finances. We aren't
asking for anything from
them. In fact we have helped
them beyond our ability with
gifts and things.
It isn't my fault that we
haven't yet gotten out of debt.
We didn't spend any more
than necessary to start our
home. I am a very careful
RAMBLER
(Ml
1960 RAMBLER SIX 4-DOOR SEDAN. America's
Idesf
Standard of Basic
shopper and I don't overpay
for anything.
I realize that a lot of wom
en bring in money, but my
husband doesn't want me to
work. He says he'd rather
have me stay home and keep
a nice house. I agree that this
is the best thing for a woman
to do. Eventually, we'll man
age to get ahead financially.
The Council: The P. V.'s are
making a big mistake in wor
rying about their son's finan
cial problems, but we see
little more at fault in their
conduct.
Harriet's self-righteous in
dignation smacks of guilt. She
childishly defends herself
against charges that haven't
been made. She doesn't ac
cuse her in-laws of having
said she is extravagant or
should go to work.
We can only guess why
Harriet defends herself
against these charges. Our
guess is that she is one who
is making the charges against
herself. She should try to ana
lyze this situation for herself.
Perhaps she feels that she is
imposing too great a burden
on her husband or that she
should spend less since she
isn't bringing in any money.
We are not urging Harriet
to cut her budget or to go
to work. We merely think she
ought to be honest with her
self. If she feels she is placing
too great a burden on her
TOPS
Choice o
30 models from
After America has looked at them all, big and
small demand for 1960 Ramblers has so sky
rocketed that Rambler production has surged
into third place among all U. S. cars. Rambler
out-produced all but two other makes for the
entire year of 1959. And plant facilities are being
expanded again ... the third time in 12 months.
Thanks to spectacular increases in production,
to meet ever-rising demand, Rambler dealers
have a generous supply of cars available. Ameri
can Motors anticipated the BIG TURN to
Rambler-rworked factories without interruption
since the introduction of the 1960 model.
So come to your Rambler dealer's now for the
model and color Rambler you want Gef a
"Success Deal" that may save you hundreds of
dollars. Rambler dealers are determined to make
this the greatest year ever offering proved
Rambler quality at America's lowest prices.
You'll get more in trade now, too! Your used
car will probably never be worth more than right
now. So come see the Compact car that's proved
by 10 years and 25 billion owner-driven miles.
See your Rambler dealer and save more than
ever right now!
Pioneered bj American Motors
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Bartlett at 5th .
U S! Wants First
Group Meet Soon
United Nations, N. Y. - (UPD
-The United States has asked
Russia's consent to hold the
first meeting of the new Unit
ed Nations committee on
peaceful uses of outer space
within a month, diplomatic
sources have disclosed.
At the same time, U. S. of-1
ficials were reported drum
ming up support to convene
as early as this September an
international scientific con
ference devoted to the ex
change of outer space infor
mation. husband she ought to do some
thing about it. If not, she
ought to stop recriminating
herself.
As parents of fully grown
children, the P. V.'s should
do themselves the service of
refusing to worry about things
that are no longer their prob
lem. They aren't able to help
their son out of his financial
troubles. But even if they
were it is doubtful that this
would be desirable.
Mr. P. V. should recognize;
that although his son hasn't!
entered the argument, he !
might feel somewhat resentful I
at being placed in the child-!
ish position of having to an
swer to his father for the
conduct of his personal af
fairs. Mr. P. V.'s question in
itself doesn't constitute inter
ference, but it does hint at
an involvement which should
not exist.
(Copyright 1960.
General Features Corp.)
MIL
No. 1 Success Car. Hardtop and station wagon models also available.
f Oomiici Cars
I
tJl C Compare all wagon prices of 5 major
03VG 340 U- S- car make"! New Rambler
American Station Wagon costs at
least $345 less, according to manufacturers suggested
delivered prices. And offers so much more in value. '
a ".A O A .A idt A jt
1 "7AI? America's Lowest-Priced Car. Suggested
J JJJ delivered price at Kenosha, Wisconsin, for
Rambler American 2-door Deluxe Sedan,
above. State and local taxes, if any, and optional equip
ment, extra. Compare the price tags yourself.
Delivery of a '60 Rambler Todayl
London - (UPD - Communist
Chinese scientists in Tibet
have successfully crossed a
yak and a Holstein bull, ac
cording to Radio Peiping. The
broadcast said the resulting
hybrid produced eight times
as much milk as the yak and
can stand the rugged Tibetan
climate better than the Holstein.
IT COSTS NO MORE
"SeeYour
Travel Agent"
Airlines know ws can help vou
have more fun. That's why
they say "See your Travel
Agent first." Drop in today and
talk over your next trip.
See GEORGE LEWIS
ROGUE
TRAVEL
SERVICE
W Reserve and Sell Airline
and Steamship Ticket
PHOME SP?-677
111 E. 8th
III