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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (March 8, 1960)
Dow Theory Not Rated as High Acco rd ing to Wa 1 1 Streete rs By ELMER C. WALZER uPI Financial Editor New York -flJPD- Bull mar kets never die. They just fade away. Time was when the Dow theorists were in flow er that bear and bull mar kets per formed by the book. When indust rials Elmer Walter fell and rails confirmed the fall through a crucial level you had a bear market. And vice versa. Today, the Dow theorists aren't rated as highly as they once were. Even the Wall Street Journal where the Dow theory was born, based on the Dow-Jones averages, doesn't use that measurement as a gospel truth in its assay of the market. The Wall Street Journal quoted one analyst as saying, You have to look pretty hard to find that kind of technical theorist under the age of 55 However, this analyst added that traders are likely to base their actions sometimes on what they think such techni cians will do. Those who hold to the be lief that bear markets don't . die but just fade away point to the market's fading process . for some time. If you don't think we have had some little bear market, ask those who have held air- crafts, oils, and a few other groups. - Blus Chips And one might also add that those who have held the bluest of the blue chips weren't given too much happi- ness by the market's behav ior. That is a factor which leads the experts to point a finger at the real sellers in this market, the institutions. The little fellows have stead- ily bought on balance, bought mci j than they have sold as the odd-lot figures from day to In the course of market movements, there are clues in at 4.1.-1. i i j : : c; uie averages umi iiuiu sigiuu- cance for others than the chartists. These are called re sistance levels. Wall Street notes where these points are as the market rises and falls and usually can spot them right on the nose. There is one resistance lev el which worries even the conservatives who aren't im mersed in theory, and that is the 590 level in the Dow-Jones Industrial Average. These ex perts say there isn't a support level for a hundred points or so below that figure. Where The Break Is If that group is right, and if the industrial average breaks 590 on any kind of volume, the next stopping point would be down 100 points or at 490. That would be the lowest it has been since July 18, 1958 when it closed at 436.55. That 486.55 was in a rise from the 1958 low of 436.89 touched on Feb. 25 of that year. The average closed 1958 at a new record high of 583.65 for a gain of 147.96 points on the year. The rail average in 1958 closed at 157.65 up 60.69 for the year and only a small fraction under its high for the year of 157.91 a new top since Dec. 7, 1956. Thus the Wall Streeters who are outside the Dow theory group fear more from the industrials than from the rails at the present time. A 1 0 0-po in t decline wouldn't be world shaking to any but those with slim pro fits at present, it is held. And it woudn't mean that the end of the world had come, the experts add. The market, some hold, is discounting a business reces sion. Here, too, there are many who disagree. Business so far this year has held high. But the production figures have been well below what had been predicted. Golden Sixties This is explained by one thing and that is the fabulous part of the Golden Sixties isn't going tq come right at the start as manv'had antici pated. The war babies, it seems, aren't going to marry as quickly as they would if there were some stimulant like a war to urge them on. The kids are a serious lot and they aren't ready to mar ry until they have something saved up for a real start, it is held. If we are currently in a bear market it's a quiet one, say the experts. Sales so far this year represent a disturb ance of outstanding stock list ed on the big board of a little more than two per cent. There are some market men who insist we'll have a real selling orgy one of these days and then another fling at the upside. But this group's enthusiasm has been dwindl ing recently as the market slowly erodes. Mental Health Group Votes To Affiliate With State Association The Jackson County Mental Health committee voted last week to seek affiliation as a chapter of the Mental Health Association of Oregon, which itself is a division of the Na tional Association for Mental Health. The committee has worked as an informal group in the field of mental health for a number of years. The group has always work ed on some projects in co operation with the state Men tal Health Association and has appreciated friendly visits from its staff. Now, however, it was thought by the local committee that affiliation with the state body would be of assistance in carrying out its aims both locally and in the state as a whole. Committee Formed The committee was first formed in 1951 and has been made up of people interested in the field of mental health and of representatives sent by various community service or ganizations. The present chair man is Roland Hartley. It was this committee which did the preliminary work leading to the establishment of the Child Guidance Clinic in 1953, and more recently it has followed a program of sludy and public education looking toward the extension of the work of the Clinic to include family counselling. The Mental Health commit tee also voted to endorse a campaign for funds to be car ried out by the state Mental Health association in the near future. When more fully or ganized the local chapter in tends to submit a budget to the United Medford Crusade with the expectation that no separate campaign for funds would be made in the future. About two weeks ago. the executive secretary of the Mental Health Association of Oregon, Dr. Frank Strange, and a staff member, Mrs. Pauline Toews, visited Med ford, and explained to the committee the policies and programs of the state body. It was on the basis of this pre sentation that the committee has now decided to seek af filiation. The program includes pub lic education, research and direct assistance to recovered patients who may be released from the mental hospitals. They are endeavoring to ex pand the program at the pres ent time in the conviction that mental illness is now "the na tion's number one health problem." The slogan of the National Association for 1960 is: "Next . . . Let's Conquer Mental Illness." Dr. Strange and Mrs. Toews are expected to visit here again soon to help set up the campaign for funds and ob tain members for the local chapter. At that time, it is hoped that people in the com munity who might be inter ested in helping to form the chapter will make themselves known. FIRC Membership Sought by SOCTFA The Roxy and Sexton radio systems of the Southern Ore gon Conservation and Tree Farm association have taken out membership in the Forest Industries Radio Communica tions association, according to Dale Prentice, secretary-man ager of SOCTFA. The action came at a recent meeting of the board of direct ors of the association and was made' on the recommendations of the radio committees of the two systems. The affiliation will become effective as soon as the FIRC confirms the ap plication. Both of the base stations as well as individual members of the two forest industry radio networks are involved. FIRC is a national organi zation that serves in a liason capacity for the lumber indus try nationally in dealing with the federal communications commission, accord ing to Glenn Duysen, president of SOCTFA. The organization is currently discussing the possi bility of sharing certain fre quencies with the petroleum industry not now available to the forest Industry, radio users. America's farmers with 16 per cent less labor have in creased their annual produc tion by more than 60 per cent in the past 40 years. . W CHANGED THE LABEL... To'fellYouThe MStoryOf Genuine Old Style Hill and Hill PLEASE BE SURE TO READ THIS NEW LABEL... yon will discover bow Hill and Hill, for more than four generations, has kept unchanged its rare smooth ness and unmatched old style Kentucky flavor. nf?- ml IF YOU WILL TRY HILL AND HILL JUST ONCE... we believe you will agree with the ever growing num bers of satisfied judges of good whiskey who say: "Hill and Hill u Kentucky Bonrbon at its best and the best buy in bourbon!" famous Sour Mash Bourbon L-iine Tine Quaiity'Nb Increase In Price - HILLS HILL CO,. LOUISVILLE. KY. 86 PROOF m ' ii Mi J. ... jgaswgqg AWARD . PRESENTED-Holiday House,. Inc., Medf ord's new trailer house manufacturing firm, was presented the Medford Chamber : of Commerce "Award of Progress" recently for their faith and confidence in the future of Jackson county.; Corporation President David Holmes (holding plaque, right) re ceived the award from Gerald Latham, pres ident of the Medford chamber. Also present were, left to right, Herman Kambeitz, pro duction manager for the firm; Clarence Young, awards committee, Medford cham ber; Jack Walker, local distributor for the trailer houses; Eugene Spencer, assistant production manager for Holiday House, Inc.; Ron Gandee,' chamber awards com mittee, and BiU Williams,"" sales manager for the firm.. Distribution is currently, set up in .12 western states, including Alaska, and in four Western Canadian provinces. The main feature of the traUer houses ' is ad- vanced design and highest possible quality, Williams said. - RAILWAY CURVES New Orleans-The two long est railway - curves and the longest uniform single rail way curve in the U.S. are all in Louisiana. Longest is . a 9.25 mile curve on the Illinois Central route. . WATER NEEDED New York - About 65,000 gallons of water are needed to produce one ton of finished steel, and about 5,000 are needed to grow one bushel, of corn. COAL MOVED . Detroit - A 3,350-foot con veyor .keeps coal moving from unloading . docks of Detroit Edison's River Rogue plant on the Detroit river to the 1,500,000-ton capacity storage yard. - . . 'I Love Lucy1 Wrecked Marriage, Claims Friend By RICK DU BROW UPI Hollywood Correspondent Hollywood -UPD- "I Love Lucy" brought wealth and fame to Lucille Ball and Desi Arnaz, but it also helped wreck their marriage. They got so tired of each other, from working together in the TV series and spending their spare time together too, that their already fiery tem pers were stretched to the breaking point. . This explanation was given by one of their closest friends as a "major reason for their breakup, which culminated Thursday when Lucy filed a divorce suit. "They worked together day and night for nine years," the friend said.. "And I wonder if any husband or wife could stand seeing his or her mate that often. Could you?" Nerve-Wracking Some . married - theatrical teams, such as Alfred Lunt and Lynn Fontanne, have sur vived this problem. But few except Lucy and Desi have been involved in the nerve wracking pace of a weekly TV show. And the pace took its toU as Desi assumed more and more control of production and sometimes shouted orders at Lucy on the set. . "No one event touched off the divorce," said the friend. "It's just that they're ex tremely volatile characters, and their tempers flared at a thousand little things. "I remember the first ar gument I heard them have, about 15 years ago, at Christ mas time. Desi said that in Cuba, you serve pig at Christ mas. Lucy said in America we serve turkey. I want to teU you, there was a heck of an argument. We finally had pig and turkey. Window Dispute "Here's another example. At night, Desi likes the win dows closed. Lucy likes them open. It's a heck of a thing. He'd get up slowly, thinking she was asleep and close the windows. But she'd have one eye open, watch and then open them again. They'd take turns going back and forth, opening and closing a window harder and harder until pret ty soon it was broken. "It was almost as silly as some of their adventures on 'I Love Lucy. " Another reason for their split was Desi's obsession with his work during the years he master-minded the building of the fabulous Desi lu empire. Weary of his bus i n e s s associates, including Lucy, he would go off by him self on fishing trips to Mex ico and golfing jaunts in Palm Springs, Calif. "He's the genius," Lucy once said, and she meant it. It was he who sold the idea for the series that earned them a fortune. And it was he who swung the deal which gave him and Lucy financial rights to the re-runs of the series. Few people understood the value of re-runs at the time. M!L TRIBUNE, Medfori, Or. Tuesday, March 8, 1960 Neuberger Quits Weekly Broadcast Portland-CPD-Sen. Richard L. Neuberger (D-Ore.) said Monday he had relinquished his weekly radio broadcast ov er a number of Oregon radio stations to avoid "embarrass ment to the broadcasters over demands for equal time. Federal regulations require radio and television stations to provide equal free broad cast time to rival candidates for public office. Neuberger recently announced he would be a candidate for re-election this year. Salem - (UPD - Plans for a $205,000 bowling alley in East Salem have been reveal ed. Realtor Bernard Stewart said construction will start within two weeks. It wUl have 16 lapes. Check This . . New homes ... as low as $3900 . . . delivered to your property Dramatic Ranch House Styling. Birch Kitchen Built in Range, Oven and Refrigerator in color. Completely constructed and ready to move into. Note: This is a conventionally constructed home, conforming to codes and inspections. ALSO: APARTMENT UNITS CABINS DUPLEXES AND MOTOR COURTS. 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