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!
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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
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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
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NEEDS NO WALL SPACE
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EXTRA SHORT
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burns DIESEL oil in brick fire box. Lights by
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THERMOSTAT TURNS FURNACE ON OR OFF
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SAVE 2c A GALLON ON OIL
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AIR FILTER CATCHES LINT
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Here's a
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CCemnnnsdlv
IFUiH ML
10 MONEY
DOWN
As Long as Three Years
produce 39 good motion pic
tures a year in the entire film
industry," she explained. "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.
ISSUE DRAFT CALL
Washington -4UPD- The De
fense Department issued a
call Monday for 6,000 draftees
to be inducted into the Army
during May. The same quota
previously was set for March
and April.
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Open Daily 9 a.m.-5 p.m.
Mondays Till 8 p.m.
Closed Saturdays
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