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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Sept. 5, 1960)
8 A. MEDFORD MAIL TRIBUNE, MEDFORD. ORE. MONDAY, SEPTEMBER 5. 1960 er 2 I iff i ;2 W 1 ' I FAIR CAMPAIGN PRACTICES Senators Henry M. Jack- Practices in a ceremony In the Old Supremo Court Cham sort (left) and Thruston B. Morton (right), chairman of the ber In the Capitol Wednesday. Chairman Charles P. Taft Democratic and Republican National Committees respec- of the Fair Campaign Practices Committee looks on. tively, are shown as they signed the Code of Fair Campaign (UPI Telephoto) Stock Market Ends String Of Three Straight Advances New York - IUPII - The stock market ended a string of three consecutive advances last week. With a few exceptions trad ing was rather routine. Brok ers saw the decline as nothing more than a correction of the substantial rise of the three previous weeks. Wide price swings in Tel autograph and Comptometer held the spotlight. These two stocks, involved in the hand Writing - by - telephone excite ment, were suspended from trading various times during the week because of accumu lations of buy orders early In the week, and sell orders late In the week. Telautograph, reached as high as 24Vi, before settling back to close at 16V4, off 2 on the week. The late selling was attributed to the company's disclosure Wednesday that it will probably operate In the red this year, and figures re leased Thursday that showed company officials had sold their stock In the firm recent ly. Comptometer backed down 9 points from Its high for the week but managed to finish with a gain of Us at 21. Sell Ing hit this stock when the firm reported that its Electro- writer unlikely would make any contribution to its profits In the near future. Auto Firm on Top The flurry of activity Jn the two stocks lifted them Into the second and third position In the most active list behind Studcbaker - Packard. Stude- baker, which unveiled its new cars to the press and also an nounced the election of a new chief executive officer, had sales of 843,000 shades. Comp tometer followed with 458.800 shares, Telautograph with 300,800, and Studebaker-Paek- ard, when-issued, with 342,- 000. American Cable & Radio, connected with the handwrit ing stocks by rumors, was for the pre-teen Come in today! Lay one away! This season's fashion touch ... the mushroom collar pat terned for your pre-teen pro tege. Jumbo pockets are patched on; her sleeves push up. Its simplicity of styling Is In perfect accord with the GIANT CHEVRON fabric. It's In soil-wise colors: Grey, Tun. Preen Sizes 8 to 14. Pjrktr.Woods' 32 50 LEON'S Tots-to-Teens 105 EAST MAIN next with 225,200 shares, and closed up 2 points to 11. The general steadiness of the list in the last two sessions was labeled as typical pre Labor day action. Friday's trading was the dullest of the week as many traders embark ed on their holiday a day early. Both business and investors now are awaiting hopefully for the fall to bring a clearer picture of economic and mar ket trends. There was nothing in the week's news to bolster senti ment. The steel situation con tinues cloudy. Production slip ped slightly this week, and now there is no vigorous up turn expected until October. The auto companies began showing off their new models to the press, and, as expected, consumers will be hit with the widest array over of com pact cars and restylcd stand ard models. . However, the auto industry still is faced with a big in ventory problem - more than 800,000 1960 models still in the hands of dealers. Failure to bring these Inventories down to manageable propor tions could well inhibit the buildup of 1961-model stocks. Declln In Turnover Electricity and crude oil production improved this week but coal output, freight carloadings and bank clear ings declined. The Dow-Jones averages at Friday's close showed 30 in dustrials at 625.22 off 10.91 points on the week; 20 rails 136.15 off 3.77; 15 utilities 96.10 up 0.08; 65 stocks 207.37 off 3.18. Sales this week declined to 14,952,240 shares, or a daily average of 2,090,448 shares, from 15,298,260 shores, or an average of 3,059,652 shares per day the previous week. The bleak steel picture dropped Jones and Laughlin 3H, U. S. Steel 3'4, Repub lic 234 and Btchlchem 134. Easing in the copper price structure pushed Magma Cop: per down 3'4, Kcnnccott and Phelps Dodge 3' each and Anaconda 2Vi. Autos, with the exception of the Studcbaker issues and American Motors, up V4, were easier. The decline In the rail average mainly reflected loss es of around 2 each In Balti more, and Ohio and Chesa peake and Ohio, The Pennsyl vania Railroad, shut down completely by strike, fin ished unchanged after setting a new low for the year ear lier in the week. Chemicals helped pull the Industrial average down with losses of 4V4 In DuPont, 2H in Union Carbide and laH In Eastman Kodak. American Telephone and American To bacco proved exceptions with gains of 1H and 1U, respec tively. OFFICIAL VISIT Jakarta, Indonesia - fUTD President Sckou Toure of the African Republic of Guinea will arrive hero Sept, 19 for a six-day visit, It was an nounced today. Toure first planned to come during In donesian Independence cele brations in August but post poned his trip because of the Congo crisis. TRAFFIC TROUBLES Jakarta, Indonesia - (UPD Indonesia's traffic policemen don't have to cope with New York's crush or the daring of Parisian drivers, but they do have local problems. One Jakarta officer will testify In court soon on the case of the pedal cab driver who bit him on the hand in an argument over a violation. AMERICAN DAY ISN'T San Francisco - (IIPII - Thp program for "I Am an Ameri can Day" here Sept. 11 .will feature a Hong Kong beauty queen, a Peruvian soprano and a Japanese fireworks display. International Situation Worse, Says Khrushchev Helsinki - (UPD - Nikita S. Khrushchev cast a wet blan ket over a happy birthday par ty for the president of Fin land Saturday night with an impromptu speech attacking the West and warning that the international situation "has worsened in past months." Khrushchev, who invited himself to Helsinki for what he said was a simple desire to help President Urho Kekko ncn celebrate his 60th birth- day, raised again his "spy plane" charges and proposed anew a summit conference t the United Nations General Assembly in New York to dis cuss disarmament. Kekkonen sat glumly with other members of the Finnish government as Khrushchev spoke in the National theater where the presidential birth day celebration was in prog ress. Kekkonen did not look pleased as he heard the leader of the neighboring Soviet na tion charge; 'The international situation has worsened in past months. We are not to blame for it We did not send airplanes over other's territory. This was an obvious refer ence to the American u-z plane incident, and appeared to be part of Khrushchev s ar gument that American aerial "spying" has forced a renewal of the cold war. But Khrushchev said he re mained "an optimist." "The situation can be re paired if there is desire to do so," he said. 'Difficult Road' He added that the Soviet government, which he will represent himself at the UN Assembly Sept. 20, wants to stress a world solution through disarmament even though "that road . . . will be diffi cult." Earlier, Khrushchev boasted that Russia will launch a 10 ton sputnik "like a train" in Its conquest of space. Brand Names Make Wise Buying Easier KRESKY HEATERS Ik. ". I V.V.'.'.VMVAWjv....- V IK k.' N 1 s-'' KRESKY BUCCANEER . . . 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