Medford mail tribune., January 12, 1961, Image 15

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THURSDAY. JANUARY 12, 1861 Q
MEDFORD HftM DFORD, ORE.
Stock Market Joins
Economy
in Making Start of 'Golden Sixties' Into Dud
New York - (UPII - The stock
market joined the economy in
making the start of the "Gold
en Sixties" a dud.
The downtrend in stock
prices, which started obscure
ly during the summer of 1950,
accelerated clearly in Janu
ary, 1960, and hung over the
list the rest of the year.
Prices reached an all-time
peak in the second session of
the year, but backed down
steadily thereafter and never
again came even close to that
level.
The list moved irregularly
lower through July and then
the Federal Reserve Board de
cided to step into the picture
to stimulate investor interest.
The board cut the margin re
quirements from 90 per cent
to 70 per cent on July 28.
This meant that only 70 cents
in cash had to be paid for
every dollar of stock bought.
The market responded to
board's action with a sharp
rise on July 29, but that was
all there was to it. Following
a rather steady August per
formance, prices took another
nosedive in September before
leveling off in the fourth quar
ter. Stage Set
Where do we go from here?
Many of the experts agree that
the stage now is set for a bull
market, but a forward price
seems unlikely to get under
way until the downdrift in the
general economy shows defi
nite signs of leveling off .
The 1980 slock market was
unique in that it favored both
the bulls and bears at the
same time. The emphasis was
on the conservative and de
fensive groups, and a few of
the super growth sections.
And because the economic
political, international and
gold pictures still are foggy,
and probably will remain so
until well into the first half
of 1961, the defensive groups
most likely will be favored
again.
November stock dealings
proved that such a policy can
be ;jrofitable. Twenty - one
groups made hew 1960 highs
in the month. They . were:
foods, sugar beet refiners,
dairy products, canned foods,
confectionery, corn refiners,
cigarettes, gold mining, office
equipments, soft drinks, mo
tion pictures, casualty insur
ance, finance companies, small
loans, brewers, biscuit bakers,
natural gas producers and dis
tributors, publishing, specialty
machinery and soaps.
In the same month, new
lows for the year were made
by autos, shipping, shoes,
building materials, metal and
glass containers, apparel
chains and textile weavers.
Over the year, there were
gains of 20 to 36 per cent in
THE
CONGO
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trf'-VnVM r Wit I
EQl'ATO 4'&0 C
1. KOt'OLUVtLI.R I
CONTROLLED BY
LUMUMBA SUPPORTERS
CONTROLLED BY
KASAVU8U GOVT
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New State
CONTROLLED
ijy MWAM8A .
antf ILlHGA
CONTROLLED BY
KALONil TRIBE
J KATANGA
1 ,: : ni.UftfTHVIHf j 1
CONTROLLED BY
T5H0MBE GOVT.
i
NEW STATE This map of the Congo Shows
. the new independent state "Luaiaba" which
was formed Monday by followers of jailed
Premier Patrice Lumumba. Informer sources
said Rcmy Mwamba and Joseph Ilunga
established the new state. The emerging
new state followed the breakaway example
set earlier by Tshombe's Katanga State. Al
bert Kalonji's Kasai mining state, ' and
Atonie Gizenga's pro-Lumumba regime in
Kivu and Oriental province.
(UPI Tclephoto)
Douglas Fir
Tree-Seedlings
Now Available
More than two million small
Douglas fir tree-seedlings, pro
duced at the Oregon Forest
Nursery just north of Corval
lis, arc now being sold to the
public in unlimited quantities
for planting on farm or forest
land, according to Don Maus,
assistant state forester, state
forestry department.
The trees are' two years old,
with 3 to 5-lnch tops, 8-inch
roots and have good stem cali
per. The trees are suitable for
planting on all western Ore
gon sites up to 2,500 feet elev
ation. 1
The cost for this stock will
be $7 per 1,000 F.O.B. nur
sery for orders of 10,000 trees
and over with no limit per
order. For orders less than
10,000 the charge will be $10
per 1,000 including shipping
costs. The minimum acccpta
ablc order will be for 50 trees
at $1. A further Increase In
quantity must be made in
multiples of 50.
Dick Olson, state farm for
ester tn this area, slated that
order blanks may be obtained
from The State Forestry of
fice, Table Rock rd., Medford,
county agent or soil conserva
tion service. Those desiring
this special stock of trees in
dicate on the blank "small
Douglas fir" and use the
above cost rates in figuring
the sale price.
some iy omer iree species
arc available from Oregon's
two forest nurseries or the
growing of various forest pro
duels on both woodland and
regular forest areas.
The Family Council
Kdltor'i Nnir: The Family Council consist or a judge, a psychla
trlit, three clergymen, three editors and a women'i editor. Each article
it a summary or an actual case history. The Council reports on prob
lems that have been dealt with bv responsible acencles and counselors,
(Copyright 1961 General Features Corp.)
Court Order Ends
Eight-Year-Old Case
Portland - (IID - An order
was entered In Federal Court
Wednesday by U.S. District
Judge William G. East award
ing Falrvlew Farms, Inc., near
Troutdale $300,000 damages,
closing out an clghl year-nld
case.
Falrvlew Farms had
brought suit against the Rey
nolds Metal company alumi
num plant claiming damage
to ils dairy herd and de
creased milk production be
cause of noxious gas and other
wastes which contaminated
the farm's property. The farm
had sought $1,350,000.
Judge East at the same time
denied request for a perma
nent injunction analnst Rey
nolds to r.lr tli firm
either ta thrtro Artie
r , Run Mr cwM prod u 6
JtJmMto
tfy JM Ar&
to sn& S 9 t
Mrs. I. G.-Our aged mother
should be helped to stay In her
own home.
Mr. B. N. - I worry about
her alone there. She should
be in a home.
'
Mrs. I..G. - My brother and
I differ about the best arrange
ment for our mother, who is
70 and living in her own
apartment, with a full-time
maid to help her run the
place.
I know it would break her
heart to be separated from
her cozy, familiar surround
ings. Every picture on the
wall, every doily, every teacup
has a special meaning to her
and is as precious as an old
friend. Nevertheless, Barney
keeps urging her to break up
her home and move to a resi
dence center for the aged.
It s true that she's alone a
great deal. I try to fill in
when the maid is off, but with
my own big house and family
1 can't always make It. Still
I feel my brother should help
us work out ways of keeping
Mother at home instead of
harping on the same old tune
- the easy way out for us, but
so hard on her.
Mr. B. N. - What Ida hasn't
lold you is that Mother is hav
ing a hard time getting the
right maid. The turnover Is
tremendous. Either Mother
doesn't like them or they don't
like the job, Including Mother.
In addition, our mother Is
extremely lonely. Most of her
contemporaries have either
moved away or passed along.
There's hardly anyone around
with whom she can discuss the
old days. She spends her time
reading, watching TV and go
ing through boxes of old snap
shots and letters.
I feel thai In a Home she'd
bo sure o( good care and
there'd he plenty of compan
ionship and diversion. She'd
be less gloomy and irritable,
anil might snap out of her
preoccupation with old me
mentoes. .
The Counclli "Keep them
wuere they are, If possible,"
seems to he the consensus of
opinion regarding the aged to
day, lint this is based upon
the assumption that the older
person hasn't enough mentil
or emotional agility to ariipt
to cnangc. l'crhane, mi Mr. N
wishes, this iothr cafl be
moved without too murtt (li.
Acuity in (litntin Should
(he1 Unit snc?
Tt du ioing Utbtr u ih
wmm mm it, with mo.
yi Vtajuiy, nilher Winners
nor health problems arc forc
ing a quick decision. But,
looking to the future, and In
view of this lady's present dif
ficulties vith housekeeping
and loneliness, we side with
Mr. N.
To remain at home Indefi
nitely, this parent will require
more time and patience from
her two children than cither
can, or wishes (or perhaps can
be expected) to grant. While
she's ambulatory and well, she
can take up the slack. If she's
resourceful and imaginative,
she can enjoy her solitude.
But when she must turn more
and more to her adult children
to fill In the important blanks,
both she and they must see
the wisdom of enlisting com
munity resources.
There are specially trained
social workers now to help
people like these three tote up
the pros and cons of a change,
and then the merits and de
merits of each proposed re
location. Each year sees new
housing havens for the elder
ly, and guidance in sorting
them out can be a great boon.
True, as Mrs. G. emphasizes,
her mother now has the lux
ury of privacy and freedom
and the friendly surroundings
of "old possessions." But, In
exchange for giving up some
of these, she can have the
stimulation and peace of peo
ple .around. She'll be able to
share her talents, swap her
yarns and pick up a few new
ones.
And while sho won't be be
set with housekeeping prob
lems, chances arc that If she
bakes a good cherry pie.
they'll let her In any kitchen
she feels like gracing.
BEWARE
Of
IMITATIONS
LOOK
'on mi
HUVi
unu
TOPS ItJ QUAUTYl
5-
soaps, foods, office equipments
and soft drinks, while losses
of 25 per cent or more were
registered by tires and rub
bers, steels, metal fabricators,
aluminums, coals and airlines.
One broker declared that
with 1961 likely to be as un
conventional a year as I960, a
decision also has to be made
as to the industries that should
be avoided. This could mean
Indifference to stocks su.ch as
the chemicals where there is
little or no chance of a new
earnings explosion. It may
also mean indifference to
many of 1960's "high flyers"
where there is a great deal
of catching up to be done.
Expenditures Double
And while expenditures for
space exploration and develop
ment doubled this past year,
and probably will mushroom
over the next decade, fjie
realization is growing that
corporate benefits may not de
velop overnight, or Include
everyone.
Should a phase of better
feeling with respect to the
overall business outlook de
velop later, speculative atten
tion probably would be focus
ed on the more prosaic cycli
cal industries. Certainly, as
one broker put it, the severe
price deflation experienced by
the market's problem children
recognizes a great many un
certainties. While the steel industry is
operating under a new set of
rules, the fact remains that
the group always has been
sensitive to new order trends,
and orders may turn up soon
er than is generally expected
now. And while this has been
the worst year for the appli
ance industry since World
War II, its decline, too, now
may be bottoming out.
In addition, cement ship
ments turned up in the fourth
quarter, and highway con
struction almost certainly will
improve in 1961. The copper
companies could do surpris
ingly well if the 30-cent price
holds.
It also was pointed out that
industries and companies do
emerge from their own pri
vate recessions. This was true
Heavy Fog Causes Car to Hit Truck
' A 44-year-old Central Point
woman sustained apparently
minor injuries Wednesday
when a car she was operat
ing struck the rear of a large
tractor-trailer truck during
heavy fog on Highway 99 just
inside the north city limits
of Medford.
The woman, Feme CSrrier
Kellow, 2910 Sunnyvale rd.,
told Medford police she did
not need to go to a hospital
and was then taken from the
scene of the accident by a
friend. Police said she appar
ently received a bloody nose
in the accident, which occur
red about 7 a.m.
The Kellow vehicle sus
tained heavy damage to the
front end, police said. The
truck, operated by Paul Ed
win Thomas, 35, San Jose,
Calif., was not damaged. Po
lice said the truck had just
pulled onto the highway and
was going only about five
miles per hour at the time
of the accident. No citations
were issued, they said, since
the vehicles had been moved
prior to the time police were
called.
in 1960 for the oil and movie
business, and it may hold true
in 1961 for the can companies.
Over the near term, how
e v e r, speculative emphasis
will most likely be on the
companies and industries ben
efiting from today's environ
ment - the revolutions in our
living and spending habits.
These Include food, farm im
plement, natural gas, domes
tic oil, aircraft and publishing
companies.
The nervousness hanging
over the market in recent
months undoubtedly will re
main until the policies of
President-elect John F. Ken
nedy emerge more clearly.
Just when in 1961 the bull
ish sectors of the company
will begin to outweigh the
bearish sectors and produce
the next period of expansion
is a big question mark. The
consensus of economists is for
no big upswing until the be
ginning of next summer. The
course of business activity in
the next few months will be
determined chiefly by the ex
tent to which inventory ad
justments affect other cate
gories of demand.
The nation's Gross National
Product dipped to an annual
rate of $503 billion in the
third quarter from the record
$505 billion In the second
quarter, and slipped even fur
ther in the last quarter. But
some circles expect an im
provement to start again in
the initial 1961 quarter.
Government spending is ex
pected to rise enough in the
next few months to offset any
foreseeable decline in inven
tory buying.
Plant and equipment spend
ing forecasts have been re
vised downward but steady
demand for capital equipment
and construction is at a fairly
high level that should hold
well in 1961.
Manufacturers' sales and
earnings declined in the third
quarter as profit margins
dropped to the lowest level
in two years, and there was
little hope of an improvement
in the final quarter.
Consumer expenditures dip
ped in the second half but
should turn upward in re
sponse to rising incomes gen
erated in .other categories of
expenditures. Mean while,
Americans have been building
up their savings accounts to
where they now stand at more
than $307 billion, a new high.
Autos Good
If initial sales of 1961 model
automobiles are any criterion,
the auto industry should have
a good year In 1961. However,
the steel industry, which has
been operating at close to 50
per cent of capacity for six
months, is not expected to see
any improvement until the
spring. And operations for the
full year are predicted to run
slightly below 1961.
Aluminum probably will
operate at a level closer to
capacity than steel, as it did
in 1960, but it faces the pros
pects of a bigger drop from
1060 levels than does steel.
The railroad industry, of
course, depends heavily upon
the movements of the econ
omy, but it also is counting
on some favorable legislation
from Washington, and a con
tinued merger trend to clear
the profits picture.
The giant construction in
dustry, which suffered its first
setback since World War II
in 19360, looks for a come
back in 1961. Residential
building, the 1960 culprit, is
expected to lead the arrival.
O SILVER DOLLAR STAMPS O SILVER DOLLAR STAMPS O SILVER DOLLAR STAMPS
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SAUSAGE
Rolls for Ss
I
FRANKFURTERS
Armour's, the Old Fashioned Juicy Kind
3 ibS. n 00
SPARE
niDLBS
Midwest Pork Lean & Meaty
dlQJlb.
Sorry we ran out last week. We have
plenty now for everyone!
Swift's Premium Fuffxj Cwkd
HAM
...L.J
fcSS5i the
way you
LOCKER BEEF
V2 Beef
49V
Front Yn
i
lb.
mm in i-o
- ft. M
Shank half or whole
Cut And
Wrapped
Hind i4
59
lb.
TUBE
Tomatoes
'YUBANfr&SS
COFFEE MIfi
C
Mi
mm
MM
Maxwell House
COFFEE
1 ib. 59
1 $117
lbs I
mm
High in
VITAMIN C
NUTRITIOUS
DELICIOUS
Grape Drink and
Orange Drink
46-oi. Cans
Reg. 37c Each
3 8S
PLEASE DOG FOOD
IOcan.79
Baker's Instant
CHOCOLATE DRINK
t
Regular 45c
Special
37
jEoch package
contains 10c
coupon good for
free pkg. of jello
SUPER MARKET lc'
I Open Till Midnight Affir 8"n'hes
1 ..w,,k J m(J CELERY
Silver Dollar Trading Stamps Zs&uJil
l All Specials Are Good S B q
V Mon.j Tues., Wed. 1 fii R
IbK- ' A ,
fSi. jjt
Ghirardellis
CHOCOLATE
CHIPS
5 V
Fisher's Golden 27
PANCAKE MIX
7Vi-lb. Pkg.
Reg. 99e
SALE '
Reg. 43c Fisher's
BISKIT MIX Vk'
29f
J Choice Navel
ORAH
I SHRIMP, SEA HAVEN
Tiny
Chicken Turkey I De-veined
Sliced Beef Salisbury I
REG. 69c EACH
3
FOR
R fid
JELLO
10 Delicious
4 ' 25
1
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CI
SNOBOY
POTATOES
1079'
Deschutes, Dakota Reds and Idahos. Each
bag has coupon for 5c good on a pound of
butter!
BOILER ONIONS
3 lb. Cello Bag
1
PEANUTS
Freshly
Roasted
37
lbs. I
0, SILVER, DOLLAR STAMPS SILVER DkAftTrVB3 QQ SILVER POULAft SYAW
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(!)
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