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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (March 9, 1960)
They'll Da It Every Time i.o- By Jimmy Hatlo fe WW. King Fntafp Syndic!). World right rwgrred.' Market Following Pattern Set In Three-Month Period of 1957 By ELMER C. WALZER UPI Financial Editor .New York TOPD This stock market so far this year has followed a pattern set in the period July 12 to Oct. 22, 1957. In those 71 days, the in dustrial aver- age fell 100.98 points as the market dis counted the recession o f i Elmer Walzer 1957-58. : This year in 42 sessions ilnce the industrial average hit its highest level for all time on Jan. 5. there has been a decline to the low on Friday fintra-dav figures used) of 86.78 points or 12.6 per cent, Rails fell by 13.3 per cent in the same period. In relative points lost the decline of 1960 is smaller than the one in 1957, but percent agewise it is larger. . Only a few of the experts classed the 1957 break as a bear market. Those who did said It was the shortest bear market in history. Recovery Discounted After Oct. 22, 1957, the mar ket set out on a rise as busi ness continued to decline. That rise . was- discounting -a busi ness recovery that began af ter the production index hit its recession low in April of 1958 at 132 per cent of the -1957-1959 average. Wall Street isn't convinced the current market is dis counting a business setback or merely suffering from over-optimistic predictions made late in 1959 on the 1960 outlook. Bear markets have come and gone over the years. We've had 13 of them since 1899, according to Ralph A. Kotnem, analyst for Harris, Upham & Co. Rotnem has plotted these bear markets and noted in each how much of a decline and the period of the decline occurred before a bear mar ket signal was given by the averages. Signal Given . . This signal was said to have been given last week when the rails fell to a 16-month low and confirmed the declin es in industrials. There was a decline of more than 12 per cent in 42 sessions before the signal was given. In other bear markets, the signal has lagged by as much as nine months and the loss before it was given has reached 21 per cent. , That long interval came in the bear market of 1916-1917 and it lasted only three and a half months longer with prices falling another 23 per cent. The longest bear market we have had was the one that ran from 1929 to 1932. In that one it took one and one-half months for the bear signal to Global-Range Missile May Be Horror Weapon Washington -UPD- One of man's future horror weapons may be a global-range ballis tic missile that hurtles 10,000 or 15,000 miles to its target via the bottom of the world. Pentagon research director Herbert F. York raised that specter in telling the need for U.S. satellites that could scan the entire earth and instantly detect an attack from any dir In Soviet hands, a future global missile could streak across the Southern Hemis phere instead of the arctic where American radar warn-! ing stations are nearing com pletion. Contracts for the sta tions run $750 million so far. Improve on Radar .-. - - The "logical course for to day's ballistic missiles is across the top of the world, York said, and U.S. radar should give 15 minutes warn ing of a transarctic attack. "But it is potentially possi ble for missiles to go around the other way," he told the Massachusetts Institute of Technology Alumni Associa tion. "So it is important to have something better" than radar for warning. The "something better" is the Midas satellite, the first test model of which the Air Force recently tried unsuc cessfully to put into orbit from Cape Canavaral, Fla. Detect Heat Trails The Midas-meaning missile defense alarm system will carry infra-red sensing de vices to pick up the heat trails of missiles the moment they are launched. A fully operating military "spy in the sky" system, with many Midas satellites and ground-based data receiving stations, "won't be easy, inex pensive or soon," York said. But it can be done and there must be a "solid program" to make it work he added. Such a system would at least double the 15-minute warning time now in prospect for any transarctic attack, he pointed out, and also could detect submarine-launched missiles. REClSTElt TOW! Spring Term Starts March 28 Accounting and Secretarial Courses; v Day and Night Classes ROBERTSON SCHOOL OF BUSINESS 40 N. Riverside . 619 S.E. Cass 411 Main . Medford Roseburg Klamath Falls SP 3-4264 GR 3-7256 TU 2-4126 mm mm mm mm mm mm mm mm mm mm mm mm mm mm mm mm mm mm mm mm mm mm mm mm mm mm mm mm mm Please Send Me Your Spring Schedule be given during which time prices, eroded to 19 per cent. After the signal the bear movement ran for another 32V& months with prices fall ing 86i per cent. Longest in History By all the figures available the bull market that was said to have ended last w-avk was the longest in history, naving started in 1949. The longest previous one was the bull movement of 1923-1929, the one so many remember for the general public walloping and the subsequent regula tions that have been with us ever since. One thing sure, even if we can't measure exactly when they come, bear markets al ways follow bull markets, and thus uphold the old adage of the bears, "what goes up, must come down." Another point where this decline is similar, to that of 1957 is volume. .That decline came without benefit of vol ume and it wasn't until the final stages that the sales were averaging over three million shares. In the decline of 1960, there have been only two sessions of more than four million shares, 24 of more than three million and 18 over two million.- - '"' " In turnover of shares listed the 1957 total for the year amounted to only 12 per cent which is just about what the market has been doing so far this year on listings of 1,4 billion shares more than in 1957. FIRE KILLS FOUR Atotonilco, Mexico - (UPD -Fire on an interurban bus killed a woman and three children near this central Mexican town Monday, it was announced today. The four were fatally burned when other passengers stampeded for the exits. Harney County Wafer Outlook Much Improved Burns -TOPD- Water supply outlook for the 1960 irriga tion season in the Harney Ba sin is much improved over last year but is still not up to average. That was the' report of W, T. Frost, snow survey super visor for the Soil Conserva tion Service. Moisture Above Normal Frost said February storms brought much above normal moisture and March precipi tation is already up to the usual total for the entire month in the area. Water con tent of the mountain snow pack has increased from 71 per cent average last month to 83 per cent average on March 1. Present snow cover is one third greater than last year at this date. Presence of low-elevation snow cover this year contrasts strongly with its absence last year, he said. Little Gained Moisture in the mountain watershed soils have increas ed by rains and snow melt where the soils are not frozen, Frost said. In many areas higher elevations covered by the snow pack have, gained very little soil moisture in the last month and will soak up some of the runoff. Flow of streams in the Har ney Basin is forecast between a high of 75 per cent average on the Blitzen river to a low of 47 per cent average on the Silvies river, he said. Forecasts are based on con ditions prevailing at the end of February. Polio Victim Uses 10 Years for Degree Manhattan, Kan. '- (UPD -Kenneth Kohf eld is a polio victim and it took him 10 years to- get his degree at Kansas State University. But he finally made the grade, with the class of 1960, and earned top scholastic honors while he was at it. Kohf eld had been, wheeled to classes the past two years by his wife Mary. He says he's been especially lucky with his class schedules but that on Tuesdays the past semester, it was necessary for Mary to make eight trips with him to and from the campus. . Kohf eld majored in agri cultural economics. Now, with his wife and their daughters, Kathy, 5, and Susie, 3, he is mainly concerned with "just getting settled" in their new home at Norton, Kan., where he began work at the First National Bank. He specializes in property insurance at the bank. The young polio victim is still confined to a wheelchair, doesn't have free movement of his arms and must use a respirator at night because his breathing is about one-third normal. Texas had eight capitals before it became a state. 200,000 Expected at N.Y. Flower Show . New York - (UPD - A record 200,000 flower lovers are ex pected to pour into the New York Coliseum for the I960 International Flower Show. More than 1,000 amateur and professional horticultur ists . are " represented at the show with close to one half million blooms and plants, trees and shrubs, rock gar dens, and exhibits featuring streams, ponds and water falls. The theme of the show is "Flower of the World." It opened March 5 and runs through March 12. A record $110,000 in prize money will be distributed by the shows sponsors, Interna tional Flower Show, Inc., a non-profit organization which is aided by the New York Florists' Club and the Horti culture Society of New York. 1414-4861 I VZ TAUI,U la STAR GA2ERV By CLAY R. POIXAN' MAY 21 12-zwwa 62-47-69 CfMM 3C4 MAY 22 J JUNE 22 8-11-30-39 49-65-79-821 CANCB JUNE 23 JULY 23 2832-36471 50-66-83-831 LEO JULY 24 . AUG. 23 ITM- 3- 6-17! 18-20-55 VKGO AUG. 24 SEPT. 22 Ch 9-10-56-59) 560-64-71 JK Your Daily Activity Gui'do Jh H According fo fhe Star. To develop message for Thursday, read words corresponding to numbers of your Zodiac birth sign. OCT. 23 2- 4-22-40 143-53-77 Va ' 1 Bs 2Aspets 3 Realistic 4 Favor - 5 Evening 6 And 7 Hour 8A 9 Right 10 Act km 1 1 Decision 12 Interviews 13 Encourage UYou 15 If 16 Don't 17 Act 18Ta 19 You'll 20 Insure 21 Spoil 22 Trips 23 Not 24Could 25 Come 26 An 27 Loved 28 Early . 29 Ambitious 30Moy (Si) Good 61 Mingling 62 Be 63 Or 64 Of 65 News '66 Start 67 Very 68 Togetherness 6 Productive 70 Sympathy 71 Success 72 Vital ,"" 73 Flying . 74 Colors 75 Today 76 Contort 77Contoct .78 Today . 79 May 80 Affectionate 81 Extend . 82 Surprise 83 On 84 It 851s 86Cverlr 87 Mood 88 Others 89 Helpful 90 Sensitive Sv 310 g) Adverse Neutral 31 The 32 Risers 33 Likely 34 Day 35 To 36 Get 37 Ones 38 Be 39 Through 40 Visits 41 Right 42 With 43 And 44 Kind 45 And 46 Need 47 A 48 Of 49 Reached SOHeod 51 Overlook 52 Your 53 New 54 By 55 Credit 56 Assures 57 A 58 Being 59 A 60 Measure SCOVM OCT. 24 ( NOV. 22 16-21 -31-34 4n 154-58-86-90 SAorrr aiius NOV. 23 DEC 22 15-27-37-46 T1 152-70-81-84 VJ CAPtJCORN DEC 23 JAN. 20 Vf P4-24-51-57n P2-7678 AOUAffJUS JAN. 21 19-25-3427Gi 73-74-75 V&J was 20 FEB. MAR. 21 p9-45-80i7VJ Actress Gets 'Good Script for Change' By VERNON SCOTT UPI Hollywood Correspondent Hollywood -(UPD- Lizabeth Scott has returned to tele vision for the first time in two because "I found a good script for a change." The husky-voiced star has beenaging her own private war against mediocre per formances and would rather give up acting altogether than appear in second-rate roles. "There's no point putting your heart and soul into a part when you know in ad vance it isn't worth the trou ble," she said. "I'm not speaking as a dedi cated actress. Enthusiasm and hard work is a requisite for any job a person undertakes. I'd rather starve than perform in a picture or TV show just for money, The blue-eyed blonde said she wasn't kidding, "I tried working for just money once, and it made me almost physically ill," Liz went on. Completes Role) "My agent talked me into accepting a movie . role I didn't think was worth while, His argument was, 'it can't hurt your career, and look at all the money you'll make. Liz just completed a co- starring role with newcomer Gardner McKay in an "Ad ventures in Paradise" seg ment at 20th Century-Fox which beams on NBC-TV Monday, March 21. "This is a "realistic story about a lady captain in the South Pacific," she explained. "The cast and crew take spe cial pains to get exactly the right feeling of the script on film. "Rarely do you find . that sort of thing in television shows. There is so little time devoted to production no one gives a thought to what the final product will look like on the screen." Refuses Opportunities For this reason Liz has re fused dozens of opportunities to star in her own video series. "It's next to impossible to PLENTY F REGISTER CAN BE ADJUSTED to direct air from hallway to other rooms. NEEDS NO WALL SPACE Locate your furnace as you wish. 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"So how can one television show hope to come up with 39 top flight scripts with duality pro duction. Most series spend less than five days turning out a program. "I might change my mind if I could find a series that spent two weeks on each show-and if we had 39 good scripts completed in advance. "But chances of anything like that ever happening are impossible to think about. So . . . I've just stopped con sidering the possibility of starring in my own series." Changed T To Meet Ike Washington-OJPD - When he goes to the summit and to Moscow in the next few months President Eisenhower may find a changed Nikita Khrushchev, softened in some ways and hardened in others toward the United States. The Soviet premier was re ported to be greatly impres sed with the American stand ard of living, cars, drive-ins, ice boxes and housing during his. trip here last September. He was believed to have high respect for U.S. military strength and to concede that this country could devastate Russia in any war. It is said that one man who does not attach great weight to the "missile gap" is Nikita Khru shchev. But Khrushchev Is firmly convinced that U.S. officials are amateurs at "the art of revolution," a phrase which refers to the struggle between East and West to win the peoples of the world to their side. Oregon City-flJPD-Argument on a motion to quash an in dictment against Levi S. Mc Donald, 51, on a charge of d struction of property by ex plosives has been set for Thursday morning by CMrcuir Judge P. K. Hammond. MAIL TRIBUNE, Medford, Or. 10 Wednesday, March 9, 1960 10 MINISTER ARRIVES Vienna - (UPD - Edward Page Jr., first U.S. minister to Communist Bulgaria since tne United States broke off rela tions with Bulgaria in 1950, arrived at Sofia Monday night aboard a U.S. Air orce plane. 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