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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Feb. 22, 1960)
Stock Market Investors Warned To Beware of Year Ending in 0 By ELMER C. WALZER UPI Financial Editor New York (UPD Beware, this is the year of the cipher. This year. 1960, ends in r ""f zero. And that have been bad for the stock mar ket, says Jac ques C o e of the Stock Ex change firm that bears his name. Elmer Walxer "The year 1960 had plenty of strikes against it even before it start ed," he says. "It begins a new cycle year ending in zero which may sound foolish to many serious-minded people, yet, as Al Smith said 'let's look at the record': "1920-Serious bear market. "1930-even worse. "1940-very bad. "1950-Not so bad (because we were coming out of the 1948-1949 down market but there did occur an incisive period during the summer months when there was a temporary collapse from 230 to 195)." Coe might have added 1900 when a bear market ended at mid-year, and 1910 which had a sharp decline. "It's one of those quirks in statistics that develop from time to time. Like saying the market performs best on Tues days. It has so far this year. But it didn't do well last Tues day with the industrial aver age breaking to a new low since April on a drop of more than six points." Coe says we've been in a bear market since the be ginning of 1959. "Many of us," he adds, "have been delightfully swin dled by the behavior of the Dow - Jones averages which made people believe we were still in the bull market during the summer of 1959 and again in December of 1959. "Those poor unfortunates who have not had portfolios consistent with the Dow-Jones group certainly knew we were in a bear market a long time ago. "Examinations of their own portfolios must have disclosed the grim truth that 'the party was over as far back as the spring of 1959." And what about the rest of this year after the big January decline? Here is Coe's view: "We witnessed during Jan You can save your wife 3 to 4 hours of work every week . . . (YOUR NAME'S) SHIRT LAUNDRY SERVICE . . . starched to your order, heavy, light or no starch at all. You name it we do it! ' . . . gives shirts the kind of professional finish that even the most expert home ironing can never achieve. ... is kind to shirts . . . won't wear 'em out . . . missing or broken buttons are replaced free. Call us today! Try Our Custom Laundered Shirts Fit Better Look better Feel Better uary, a decline in blue chips which increased their yields. We have seen also a lessening of money tightness with an advance in high-grade bonds. Collapse of Wall Damages Building Pendleton - (UPD - Damage estimated at $10,000 was caused Sunday when the east wall of a building that was partially destroyed by fire Jan. 19 fell on another build ing, damaging two businesses. The S t a n g i e r Brothers building, which fire partially destroyed, was in the process of being razed. The east wall of the structure caved in un der high winds. The brick wall fell through the roof of the Del Brown shoe store and adjoining Sherwood and Rob erts realty and finance build ing. Gas Explosion Takes Four Lives Bluff Springs, Fla.- UPD -A 66-year-old woman and three of her grandchildren burned to death Sunday night when a gas explosion ripped through . their small frame home. The victims were identified as Mrs. Little Mae Merchant, Kathy Adams, 7, William Boyd Merchant, 18, and Rich ard Merchant, 4. A neighbor who heard the explosion said he could "see people running around in the house and heard them screaming, but couldn't get close enough to help them." Forester Named Conference Head Eugene -OirD- J. W. Fores ter, publisher of the Pendle ton East Oregonian, was elect ed chairman of the Oregon Press Conference, at its 41st annual meeting Saturday. He succeeds Giles French, Moro, publisher of the Sher man County News. Carl Webb was reelected secretary and Verne McKin- ney of the Hillsboro Argus was reelected press confer ence representative at large on the Eric W. Allen Memo rial Fund Board of Trustees. I And have your shirts laundered to perfection Fret Parking the cost meal . . . u .irtURY ) .ndril fill Right at the Door The gap at long last is be ginning to narrow." Coe holds that many un seasoned issues have been "frightfully over-priced." "Enthusiasm, combined! with imagination, stirred with a lot of loose talk and the promise of pie-in-the-sky," he says, "has induced much spec ulative, indiscriminate and loose buying by people who in their greedy quest, never looked into the true values. "Urgent want of quick profit overcomes an ordinary sense of producence." Coe is one of the few who think a bear market already is here. Most of the analysts hold that we still are in the bull market which began ten years ago. Some slice off a few months for a fast bear market in the period July 12. 1957 to Oct. 22, 1957, when the mar ket fell 100.98 points in the industrial average. Those who say this still is a bull market hold that it is in its last phase. They believe the last gasp of the bull will see the industrial average mount to 700 or better. Not a few of these bulls looked for the spurt to come in the first half of the year. Now they have revised their view to have it occur in the second half. Many of the experts do not look for a prolonged bear market to follow this bull market. They look for a long period of consolidation and then a real spurt into unex plored territory. February Home Furnishings x II U Danish Modern lamp - JJ ' 1 - ? i ft i h ib Wolnu finish & broil ftBB ft '" i ' ' . , - j I I b.. 38" high. Sov.l 7 r S' ? ; ' v . - v " - , f " ( H 5 Colorful mapltjamp 7 j SALE! Big 60-inch 7-pc "Bronzetone" dinette Modem sfyfmg for modem Rvrog! Hew "Par 0ry" inlay micafite rar -resistor top, dewx Domisit modem chairs. Vinyl covers. Foam pock. Banquet-size 7-pc, 72-in. dinette 114.88 W., ., V,.,J,V , .. ,.vi II scuff works. 8 eotors m bxury and sotefymg wea. I f - NjH - (? 1 N v x , N(- II pioin or rweed. b 7 decorolor coiors. I ifaw r m.i-i..a . .. i Brookings Jail Prisoners Rescued Brookings-fUPD-Two prison ers were rescued from a cell in the Curry county jail Satur day night after a mattress caught fire. Deputy Sheriff Sam" Gott , made his way into the smoke- ! filled jail to unlock doors so volunteer firemen could reach the two prisoners. The prison ers were taken to a Crescent City, Calif., hospital for treat ment of smoke inhalation and minor burns. Gott said the men appar- ently started the fire to get out of jail. He said no one else was in or near the jail- 1 house when the blaze started. Son-in-Law Sues Comedian, Wife Tucson, Ariz. - (UPD - Come dian Pinkey Lee and his wife have been sued for $2 million in an alienation of affections suit, filed by their son-in-law. Lyle R. Palant, 23, a real estate broker, accused the Lees of breaking up his mar riage with their daughter, Patricia, 19. He filed the suit Friday, two hours after his wife divorced him. Palant and Miss Lee were married May 23, 1958, and separated last September. They have a daughter, Lau ren Beth, 10 months. Calzada de Calatrava, Spain -(UPI) - Eight persons were killed Saturday when a Span ish air force plane crashed in flames near here. All the vic tims were Spaniards. 'T ,.ibi ,, , zv"$r?&3&irt -it-www -f tsr. ? ?wr !' II rw WW w m .! iar i I ? if - . I - . -TTl I .v.w- II rKEE kauu ran wirn warns r i t - 11 1 , rrsHS3 2hau - c? m ii mm . j Man-of-War Birds Once Were Weather Warnings for Man Near seacoasts, human eyes look with mild apprehension at fluttering storm flags. The birds of the air, too, and ani mals of the field and forest note weather changes. They do not look for the coiorec flags, but being highly sensi tive to atmospheric changes, they each react in an individ ual way to what is about to happen as it pertains to wind and weather. Birds that live along a sea coast feel the impact of change and coming events, and act accordingly. Seeming ly, one of the most accurate "weather signs" along coasts where tropical storms some times roar and rage is the so- POWER OF THE PRESS South Orange. N. J. -'UPD-Members of the Sisterhood for Three Temples were flattered when two men showed up for their luncheon meeting and identified themselves as news paper reporters assigned to cover the affair. But their joy vanished when it was discov ered that the men belonged to something other than the Fourth Estate. Before disap pearing, the "reporters" stole three mink coats valued at a total of $11,000 from the cloakroom. 2 most popular broadiooms I ; WffiSss? if !S5K2?ii!j 1 i PP54winK -s-'mwi SANOELLE o fewely rip- QMARA a meffi-leeJ I J' 3MU ' V ' '' Z' 'l pie textured corpet Hi-lo Wilton in rich moresque d- I C; (JL ''135! , ; J effect minimizes soil and sign. Will give yeors of I " v- gg53""T I Small Worlds Around Us By Lynn M. Watkins called man-of-war bird. An cestors of today's frigate bird can be credited with saving countless human lives. Before radio and newspapers brought news of impending storms, people on isolated islands de pended on the "hurricane bird" to give warning of the approach of a tropical storm. Felt Storm First Sailing as they do on stiff ened wings high above the sea, the man-of-war bird felt the coming storm long before earth-bound creatures felt the first gentle breeze. Without hesitation, the birds left the off-shore air and moved in over the mainland, although still circling high in the air. The people on the isolated shore or off-shore islands ' looked up and saw the pecul iar shaped frigate bird and knew a storm was brewing. ' Today, of course, people everywhere know where the i storm is, how long it will be i before it arrives, and have some knowledge of where it , is apt to go. The most isolated j islander now knows a long j time in advance that a storm soon will be howling about his ears. i But for the sea birds that also have their homes on iso lated islands or lonely beaches, the problem remains the same. They, too, want-to survive.' Some will find refuge in some protected area. The foolish ones will take no pre cautions; they will suffer in the storm. There are humans, too, who refuse to believe the signs, even when the signs are in the form of a direct .warning from the weather bureau. These folks, like the foolish birds, often suffer in the storm. Many Survive Most of the birds guess right. This is attested to by the fact so many survive a terrific storm. Of course some misjudge the force of coming events, or stupidly try to ride VALUABLE COUPON! No eCe'V8 Lmit 1m ffi) THRIFTY Cl B GREEN STAMPS FC Va,id Throu9h Saturday, Feb. 20, at- Central Market 3 Clip This Coupon Now! out the wind. These are blown inland or killed against trees, wire or buildings. But the majority take precautions, often they gather in flocks in an area that some mysterious sixth sense informs them will not be swept by destructive winds. Slow flyers, such as pel icans, know their limitations and disappear entirely from the scene, long before the first stiff breeze ruffles the storm flags. 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