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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Feb. 1, 1960)
I Medford rp. (Development of Stock Market d RIBUNEjFrom Bear Market Is Traced 2nd Section MEDFORD, OREGON, MONDAY, FEBRUARY 1, 1960 Pages 1 -8 F -v r 1 A- - lT t fey -r SLEEPING BEAUTY Shown here are the stars of the SOC Players production of "Sleeping Beauty", which will be shown this evening in the Southern Oregon college audi torium, Ashland. Judy Johnson, Ashland, veteran performer of SOC productions, smiles engagingly at her prince, Hiram Ferguson, Klamath Falls, over the fateful spinning wheel of storybook fame. The play will be shown to the general public Saturday evening, Jan. 30, under the direction of Dr. Dorothy Stolp. Dental Health Week Topic of Program . The Jackson County Tuber culosis and Health association will honor National Children's Dental Health Week, which is Feb. 7 to 13 on its regular bi-weekly television program at 5:30 p.m., Monday, Feb. 1 Taking as their theme "Teeth Were Meant to Last a Lifetime" the Southern Ore gon District Dental 'Society will be represented on the program by Dr. Earl T. John son and Dr. Eugene R. Cos- sette of Medford, and Dr. Lyle G. Haley of Grants Pass. Dr. Marvin A. Kocks, Ash land, has assisted in the plan ning of the program and is an alternate member of the pan el. The dentists will discuss some popular misconceptions about teeth, from the time baby's first tooth appears un til he starts to school, and later, and will point out the importance of forming early dental health habits. A number of visual aids will be used by the dentists to explain the necessity for such applicances as space maintainers for the youngster who loses baby teeth prematurely. Rock Hudson Only Big Star Who's Still in 'Bondage' By VERNON SCOTT UPI Hollywood Correspondent Hollywood - (UPD - Lincoln freed all the slaves except Rock Hudson. Even now the big guy can be bought if the price is right. Rock is the last of the first magnitude stars still under exclusive contract to a studio, Universal - International. A s such, he has never collected percentage deal on a movie, nor participated in the profits. He is the top male box office actor, but still is held in bondage by the studio which can rent him out to other movie-makers for a stiff price. Rock, however, doesn't get the money - audi he doesn't like the idea at all. This sum mer he is embarkir on "his first participation deal with his own company, Gibraltar Productions - got it, Rock of Gibraltar? "For 12 j cars I've been un der contract to Universal," Rock complained. "In that time I made 40 pictures, all on straight salary. Rented Out "Towards the end of that time I was earning $3,000 a week, but the studio was rent ing me out at fancy prices. They collected $350,000 when they loaned me to David O. Selznick for 'Farewell to Arms.' As far back as 1955 they farmed me out for 'Giant- at S200.000. "But it's not just the mon ey that bothered me. While-1 was under contract I couldn't accept some great picture of fers. "They wouldn't let me play 'Ben-Hur.' And a few months ago Marilyn Monroe wanted me to be her co-star in 'Let's Make Love.' They were going to give me a percentage of that picture, but UI nixed it." Hudson is no longer on weekly . salary at the studio. They're paying him by the pictufe.'"But that has its limi tations, too. Last year he made only one movie. Four More Pictures "I have four more pictures to make for them," Hudson said. "Then I have four addi tional ones to be made with the studio in conjunction with my own company. After that I'm free to do as I please. And does that sound good. "First thing I want to do is lose my reputation as a matinee idol, playing in all those woman-appeal films like 'Magnificent Obsession' and 'AH That Heaven Allows.' "Then I want to go to New York and star in a play. Af ter that I'm going to look around for some good prop erties and make my own pic tures. "What I'd realiy like to do is co-star with Marlon Brando, and throw in Elizabeth Taylor and Marilyn Monroe for good measure. "A picture with a cast like that could make us all finan cially independent for life." Tel Aviv,, Israel (LTD -Israel charged Syrian artillery shelled: Israeli territory Sat urday night in the"-second clash of the day along the in creasingly tense border. . .. Washington (UPD - Senate Democratic Leader Lyndon B. Johnson has invited Gen. Max well Taylor, former Army Chief of Staff, to air his cri tical views on President Ei senhower's space and defense policies before Senate investigators. By ELMER C. WALZER UPI Financial Editor New York - (UPD - Today's gem of market advice comes from the memoirs of that wily P-rench states man, Charles Maurice D e T a 1 1 e yrand, who said: "Above all don't be en thusiastic." With that in mind, B.J. ThurSow. an- ElmerWalzer alyst for the stock exchange firm of Wins low Cohu & Stetson, traces the development of this stock market out of a bear market that ran from July 12 to Oct. 22, 1957, and in that brief period knocked industrials down by exactly 100 points or 19 per cent. T h u r 1 o w calls this the shortest bear market in his tory. Some market experts gloss this one over and date our bull market back to 1949, but one way or another 1957 was a year of market decline. From the Oct. 22, 1957, low of 419.79 in industrials, the market rose with some tem porary falls until it hit the all-time high in the industrial average compiled by Dow- Jones at 685.47 on Jan. 5, the second session of the year. T h u r 1 o w refers to that buildup as a "flimsy sort of speculative superstruc ture added to the bull market edifice." The serious investor, he holds, should be questioning whether the collapse of this superstructure could be ser ious enough to bring about a prolonged, major decline in stock prices. For his part, he doesn't be lieve the superstructure is yet important enough to effect this. But, he asks, "how much further can it be built with out becoming so?" Translated into practical in vestment policy, Thurlow says it suggests: "1. That one cannot be too careful in selecting common stocks that will stand up in the event of a speculative sec ondarry reaction. "2. That one may still look for aggressive issues wnicn should do substantially bet ter than the general market, whether or not a speculative reaction occurs. -, . "3.; That if 1960 produces a suDStanuai increase m spec ulative activity with rising stock prices, it may be neces sary to consider reducing equity positions drastically and s o l n g mto short-term bonds or the equivalent." Thurlow expects the last will be the case-a speculative market rise this year. For the trader he sees . e many opportunities, Din. ior Here is a truly subtle rustic air so typical of rural French Provincial. Expertly crafted, this significant correlated collection of more than fifty bedroom, dining room and living room pieces- is aptly named "Rural French". ill fae V . 4 BEDROOM . $M 8StftN- ' Rare French chestnut has been combined . ' f'mS - la with native pecan to achieve wood textures rMnfr f - h of unusual beauty. Basket-type marquetry " r. ' --!i'dmmit JSri Ir inlays, framed and pegged tops and - y' '" "t rTMk Ttf- V ft door frames, and planked end panels lend j I i IqL - N nL an authentic touch to this most unusual m tj.7jTIrf Sp?? V . 5 ft collection. The drawer and cabinet pulls . ffTMW " J of highlighted solid brass were especially M 'Tt'Ci r!lloSi i'it f designed to be in keeping with the ft1Vsfml?V ' mJkk -'S M Come in this week! In spite of these luxurious A j.-J Come in this -week! In spite of these luxurious features, you'll find the cost very reasonable. Open Monday Nite till 9:00 220 N. BARTLETT Next to Greyhound Depot Phone SP 3-4394 The Swiilntit ef Lsw Pries mm spals the bitterness if pr pallff the investor "selectivity may well become agonizing." Avoid Enthusiasm His only advice is Talley rand's admonition to avoid enthusiasm. If that superstructure that Thurlow talks about should topple, it would produce a 39 per cent decline, just about double the one that came in a brief selloff in 1957. That would be quite a thump. In 1957, the industrial average lost 63.78 points. In 1958, it spurted and closed at its high for all time for a gain of 147.96 points. In 1959 it gained 95.71 points. It has had but few good days in 1960 and many bad ones in the month ending today. Thurlow lays the 1957 de c 1 i n e to government tight money policies and stretch outs in Defense Department payments to aircraft makers and others. An already over sold stock market subsequen ly became panicky when na tional morale was shattered by Sputnik I, and with the avalanche of tax selling in late 1957, he recalls. Speculative confidence re turned and could not be stopped by tight money and higher margins because "peo ple were firmly convinced that whatever it might say about the evils of inflation, the government would stop at nothing to stave off a de pression with attendant mass unemployment." Thurlow also noted the lack of sufficient stock sup ply helped the rise. This was caused by odouble taxation of dividends and corporate tax exemption of bond interest which virtually forced cor porations to raise money by selling bonds rather than stocks, and capital gains taxes deterring long-term holders of good quality issues from selling. "Many investors," says Thurlow, "literally prefer to die rather than pay capital gains taxes to the government." Four Traffic Crashes Reported City police received reports of four traffic accidents Fri day. None of the accidents re sulted in any serious injuries, police said. Hazel Eleanore Kincaid, 60, of 1232 North Riverside ave., received a citation from city police for failure to yield right of way to a vehicle on the right, after the car she was driving collided with one op erated by Wilma Vera Ben nett, 39, of 23 Rose st., at the intersection of 10 and Hamilton sts. at 8:40 a.m. Fri day. Both women received minor cuts and complained of bruis es but they left the scene of the accident with friends and police do not believe the in juries serious. Another Friday morning ac cident occurred at the inter section of Sixth st., and Oak dale ave. at 10:45 a.m. Police said a motorcycle op erated by Virgil Oliver Cool, 38, of 80 Gibbon rd., Central Point, collided with a car op erated by Frances Elizabeth Rutter, 42, Grants Pass. Cool complained of sore hips but police said he walked from the scene. Police cited Rutter for fail ure to yield right of way to a vehicle on a through street. Another accident occurred at 11:35 p.m. when cars op erated by Harold Wesley Hub ler, 53, of 926 Park St.. and Constance Faye Reed, 18, of 453 Haven St., collided at the intersection of Fifth and Bart lett sts. Police said damage was minor and no citations were issued. At 6:15 p.m., a car operated by Edith Wood Davis, 70, of 128 South Holly st. sideswip ed a parked car on Holly st., between Fourth and Fifth sts., according to city police. No citations were issued. WHILE YOU WERE AWAY Watkins Glen, N. Y.-CPD-When four disgruntled hun ters returned home to Wat kins Glen from a completely unsuccessful deer-hunting ex pedition to the Adir'ondacks several hundred miles away, they learned that a herd of five deer had appeared dur ing their absence in the back yard of one of their . homes. BILLY THE KIDDER Grangemouth, Eng." - (CPP Billie Heggie. a seven-year-old wearing dirty jeans, en tered the elegant Leapark Ho tel and told the clerk: "My little brother is missing. Mum my's busy and told me to go to a hotel." Billie signed the register, was shown to his room, ordered a magazine on the bedside phone, and began soaking himself in a bath. An hour later the hotel manager discovered Billie himself was the missing little brother. 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