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.
A HOT NAME
Hull, Quebec -flIPD- Investi
gators discovered a fire Sun
day in the La Flamme drug
store. -
1
A 1 I
the best
cheese
deserts
the finest Macaroni!
1 1
ON A NEW I960
FRIGIDAIRE RANGE
ON A QUICK RECOVERY
WATER HEATER
n8m Irigidaire
"
ELECTRIC
WATER HEATERS
Doubie-Quick Heating Elements produce
more hot water from every unit of power.
Automatic Temperature Control keep
water at temperature you want checks
current use.
Extra-Thick Fibrous Glass Insulation
holds heat inside keeps heater surface
cool, safe to touch.
1-Year Warranty and 9-Year Protection
Plan.
Here's the cleanest, safest, hot water sys
tem you ever saw all electric and com
pletely automatic, tool Just preset it to
the water temperature you wish and set
set for hot water as you want it oceans
of it, when you want it. No fuel, no flame,
no smoke, to bother you. This upright
round model is excellent for kitchen, play
room or laundry installation.'
Just $5.35
A MONTH
40-GALLON WATER HEATER
REGULAR
LOW PRICE
COPCO'S
ALLOWANCE
NOW
ONLY
Q50
$2oo
50
TRADE" YUM
(Gas or Electric)
GDN A1960
ELECTOOC RANGE.
SCO QCS3C? E0 ESB
t,;:
JUST LIKE HIGHER-PRICED MODELS
this Frigidaire Deluxe 30" Range gives you dozens of
terrific new features to make yog feel like a queen.
Ctok-Master automatically Controls Oven
Wide-tube Surface Units contact pans perfectly for
deep, mifsrm cooking heat
Infinite Heat Rotary Controls n Divided Panel
simplest af all to use
Product of General Motors
NO DOWN
PAYMENT
ON APPROVED CREDIT
We Carry Our Own Contracts
Just
$697
A Month
2QO
ELEOTIKI.
REGULAR
LOW PRICE
WITH YOUR 6-7-YEAR-OLD RANGE
LESS COPCO $00
ALLOWANCE
NOW
ONLY
$
(0)(f95
309 EAST MAIN
PHONE SP
3.4541 Hertford's Leading Appliance Dealer for the Past 29 Years