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WEDNESDAY, JUNE 15. 1960
MEDFORD MAIL TRIBUNE. MEDFORD, OIE.
DERBY QUEEN Queen Dee Lawson (third from left)
and her court will reign over the Medford 20-30 club's
annual Catfish Derby at TouVelle State park Sunday.
Miss Lawson and her princesses were elected by their
lophomore classmates at Medford High school. From left
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WEEK-END
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Terms
-, . ' m Oldsmobilel And right now m the brat tune ever to tee your uio
lLJ Z CX Dealer. Hell show you thxt a new OMa costs em than you'd irueMt
vou'U. do ittih at your OLDS diaiir'i
DARRELL MILLER CO., 415 S. RIVERSIDE
are Sandra Bates, Teresa Six, Miss Lawson, Vickey Enders,
Nancy Maxson and Judy Ayres. Miss Bates and Miss
Enders, however, have elected to attend a church summer
camp, and will not be on hand for Sunday's festivities.
Knackstedt Photo)
25th Annual Catfish
Derby Scheduled at
TouVelle on Sunday
Girls, games, food, prizes, I
entertainment - and maybe
even a catfish or two - will
highlight Sunday's 25th an
nual Catfish Derby at Tou
Velle State park.
Opening ceremonies for the
event sponsored each year by
the Medford 20-30 club will
begin at 11:30 a.m., according
to Derby Chairman Dick
O'Dell.
On hand .will be Derby
Queen Dee Lawson and three
of her five princesses, Teresa
Six, Nancy Maxson and Judy
Ayres. Two other members
of the court, Sandra Bates and
Vicky Enders will be out of
town attending a church sum
mer camp.
Elected By Classmates
The girls were elected by
their sophomore classmates at
Medford High school.
The picnic-style family af
fair will last throughout the
day. There will be no admis
sion charge and no entry fee
for the catfish contests.
Prizes will be awarded for
the largest, the smallest and
the most catfish. Fish must be
in good condition, but may
have been caught at any time,
anywhere in the continental
United States. Entries must be
Girls State Delegates
Keep Sense of Humor
Salem- (UPD -The 250 young
women studying government
here at Girls State made sure
they didn't lose their sense of
humor.
The teen-agers have set up
mock counties and cities and
came up with these mythical
areas: Sunburn county with
cities of Blister and Peel; Spy
county with cities of U-2 and
ME-2. Togetherness county
with cities of You and I, and
Sense county with cities of
Little and None.
E u g e n e (UPD The State
rioard of Higher Education's
building committee has
moved to condemn property
near Oregon State College for
future dormitory construction.
Good timrm . . . good trareling ... an
Oldsmobile! And right now is the bnrt
submitted prior to 3 p.m.
Best Fishing Award
The Grand Champion
award will go to the person
displaying the best all-around
fishing ability.
Contests slated during the
day include pie eating, sack
races, egg throwing and bal
loon blowing. Prizes also will
go to the boy and girl with
the reddest hair and the oldest
married couple attending.
Refreshments, including hot
dogs, candy, ice cream and
soda pop will be sold. A por
tion of the proceeds will be
donated to . the rheumatic
fever fund.
Motorists Urged
To Use Caution
Washington - (UPD - Traffic
accidents involving school-age
children increase during the
summer months, George R.
Hammond of the American
Automobile association, warn
ed in a plea for more motor
ist precaution.
Hammond offered these
safety suggestions:
-Teach children to cross
streets only at intersections.
never to dart from between
parked cars, and to look both
ways before entering a street.
-Keep youngsters from
playing in the street by find
ing them a supervised play
area.
-Instruct children walking
or bicycling along the street
to keep on the left, facing
traffic, and be sure bicycle
owners know the rules of
bicycle safety.
Above all, motorists should
drive slower and keep alert
for children to do the unex
pected.
Pilots Restrained
From Boycotting
Chicago - (UPD - A federal
judge Tuesday Issued a tem
porary order restraining mem
bers of the Air Line Pilots
Assn. from boycotting Jet
planes carrying federal In
spectors In the third pilot's
seat.
ahead for you when jrou
time ever to tea your Old
People Making Good
Stocks Not
By ELMER C. WALZER
UPI Financial Editor
New York-OIPD-In the old
days when an investor was
considering buying a stock,
he would ask
such questions
as "What's the
d I v i d end?",
"What's the
yield?", and
"H o w many
times earn
ings is it sell
ing for?"
In these
Elmer Waller
make good
days people
money buying
stocks that don't pay a divi
dend and never have paid
one.
Also the bid rule of thumb
that good common stocks
sell for 10 times earnings has
been given a jolt with some
issues selling at more than
50 times earnings and doing
right well pricewise.
The New York Stock Ex
change in the June issue of
its m a g a zi n e, "Exchange"
delves into these angles.
On the times-earnings prob
lem, it notes that old Wall
Street adages like the one
about 10 times earnings neith
er die nor fade away, "but
they certainly lose some of
their luster at times."
Stock Liitingi
The magazine lists 40
stocks, 20 selling for less than
10 times earnings, and 20 sell
ing for more than 25 times
earnings.
In the latter list are such
issues as Polaroid, selling at
78.6 times earnings: Texas In
strument at 53.4 times, and
International Business Ma
chines at 54.5 times.
Four of the issues in the
other group, American Sugar
Refining, International Har
vester, Northwest Airlines,
and U.S. Lines are quoted at
less than seven times earn
ings. When one issue sells for
only slightly better than five
times earnings and another
nearly 79 times, the 10-times
ratio becomes a shaky meas
uring rod, Indeed," says the
Exchange.
Othir Factors Noted
It notes that most people
take a great many other fac
tors into consideration before
making an Investment, such
as apparent trend of economic
conditions, the calibre of man
agement of the particular
company being studied, the
rate of its growth, the sums
spent on research, the pro
portion of profits plowed back
into the business and the gen
eral outlook.
The principal reason why
some common stocks sell so
high in relation to earnings
is investor confidence that
over the long pull those is
sues will do well and reward
their owners handsomely, says
the article.
A major drawback to the
price-earnings rule of thumb,
the magazine notes, is the
fact that a corporation's past
earnings are no guarantee of
what they may be in the fu
ture. Another Conclusion
Another conclusion from
the article Is that few of the
issues in groups which sell
for either high or low prices
in relation to earnings are
found in the volume leaders
on the market.
'Whv should anvone our-
chase a block of stock In an
enterprise wnicn nas never,
paid a cash dividend?" the
Exchange asks and answers. t
'It all depends on the per
son queried.
"For instance, an Investor
who bought a block of Texas
Instruments six years ago for
less than $10 a share might
tell you that the lack of divi
dends was more than offset
by the 1959 closing price of
above $170 a share.
"You'd get a different an
swer, though, from the owner
of a block of International
Railways of Central America
Thornton Rules on
Spending of Funds
Salem-(UPD-Attorney Gen
eral Robert Y. Thornton said
Tuesday a school district has
no power to spend public
money to advertise or Inform
voters of bond Issues, serial
levies or levies In excess of the
six per cent limitation.
The opinion is one of three
dealing with school matters
requested by Dr. Rex Putnam,
superintendent of public In
struction. Expenditure of public funds
to advertise purposes of a
bond issue must be expressly
authorized by the legislature,
Thornton said. Such use of
funds would be unfair to elec
tori opposing a bond Issue, he
said.
Portland WD Five Japa
nese destroyers, which spent
six days tied up at the west
seawall of the WlllametW rl
ver, pulled away Tuesday and
Payinq Dividends
who paid $26.25 for shares
which had a year-end closing
of $12.25 each."
Other Answers
There are other possible
answers, such as the purchase
of non-dividend payers on the
BE REALLY REFRESHED
AROUND THE CLOCK!
Here are four easy ways to serve "Fancy Franks." 1)Slice a hot frank, stuff with cole slaw, 2) Roll frank In slice
of mustard-spread bread. Fasten with wooden pick, brush with melted butter, brown in hot oven. Add olives.
3) Mix relish into canned baked beans, pile into sliced
of dill pickle, red sash of pimento. Serve with ice-cold King Size Coca-Cola. Only
cheerful lift ... that cold crisp taste that brightens any bite.
Serve this Hors d'Oeuvres Pie for a midnight snack with King Size Coca-Cola. Just take a center slice out of a
round loaf of dark or white bread. Decorate with a circling of devilled ham and egg salad. Mix yellow pasteurized
processed cheese spread with softened butter and pipe along the edges with a pastry tube. Garnish with cucum
ber slices, sliced olives, cream cheese and a radish. Cut Into wedges and serve with Ice-cold King Size Coca-Colal
TRY THESE TEMPTING TREATS
WITH BIG KING SIZE COKE!
ata.u.s.FAt.orr.
Bottled under authority of The Coca-Cola Company by COCA-COIA BOTUINQ CO. of MEDFORD - 600 N. CRAP
Attend the Games of the Medford
AMERICAN LEGION JUNIOR BASEBALL TEAM
Coca-Cola Bottling Co. of Medford is the Grand Sponsor
Money on
hope or expectation that cash
disbursements will be made
eventually. Others are bought
for capital gains.
Dividend payers average
higher in price than non-
dividend payers on the basis
of parallel lists carried in
the Exchange magazine. The
dividend payers register
wider market swings, running
to 97.4 per cent in Texas In
struments. The magazine In another
article lists 12 companies
which boosted their annual
dividends consistently during
the past decade.
If an investor had held 100
shares of each of these 12
through 1950 he would have
9
franks, pop in hot oven. 4) Put
received $570 in dividends for
the year, or $47.50 a month.
If he continued to hold
these stocks, retaining shares
received in splits and stock
dividends, his 1959 dividend
income would have soared to
$1,532, a monthly average of
$128. That's a gain of 169
per cent.
"Past performance, o f
course," observes the Ex
change, "is no promise for the
future."
hot frank in bun with slice
Coca-Cola gives you that
headed for San Francisco.
. . a.a