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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (May 18, 1962)
0o O o Varying By JESSE BOr.iiF UPI Financial Edilor New York -Wlu The morn ing after New Years Day. trading on the New York Stock Exchange opened with 73 HW Jones averaS;;s a' Thursday at the opening o trading: 654.04. , Difference: 77.10. Wall Streeters differ in their regard for all the tech meal values of indexes; but . they all watch them. This par ticular set represents the gen eral levels of 30 industrial . stocks. People ask: What happened to the level of stocks? Is there something wrong in the slock market? Out in Chicago, engineer Robert E. Lyke said he is "perplexed." -' "All the business indicators point to a rise, but the bottom keeps dropping out." he said. " But down in Washington -Tuesday Secretary of Com merce Luther H. Hodges, pointing on jumps in the rate of personal income for April over the figures for the pre ceding month and a year ago, said what was happening in the stock market was "not a . reflection of what we find in the economic picture." ( Varying Theories Traders and analysts - the men who try to keep track of "MORE ECONOMY" J---1 rL Cemetery, Mortuary, Mausoleum, Cremations' BUG Q in Screen Aluminum screen door. Complete with Latch, Closer and Grill. Ready to hang. SPECIAL Other Aluminum Screen Doors Priced at . Wooden Screen Doors $g75 to $995 Wing-Crest UNFINISHED Shutters Custom Quality! American Made! Illr'fl43 !i E9 I Hd As U Per IP HP low as Panel Real decorative addition to win dows, cabinets, etc. Prc-Finishcd Ranch Cedar Paneling 4'x8' Panels : ' MEPr0HD MA1 TRIBUNE. MEDFORP. OREGON Theories Offeree? as Bottom what the market is doing have varying theories on its behavior. But most agree it is not o'ne single thing, but a combination of many, which has led investors to watch IBM go from 579 last Dec. 29 to 457 Tuesday: American Tel ephone and Telegraph from 136' to 120' 2 and others per form similarly. They talk about the "earn ings ratio." That is the ratio of the dollar value of a stock at the current market price to the dollars it earns-the divi- dends-per year More simply: How much of . r ". a dollar comes back for the dollars tied up? Some investors during the latter months of 1961 and on into 1962 certainly had the feeling that the earnings ratio was too high. In a frame of mind of this kind, one may or may not choose to ignore whatever might be the long-range worth of the company or industry behind the stock; decide simp ly that the price to pay-or the price one could get for a share - was such that there might be a better opportuni ty elsewhere. After all, banks and other financial institutions raised interest rates. Or perhaps the growth potential-the amount by which one's stock could hope to increase just because f vaV m Memorial Park &, Funeral Home "A Name To Trust" . Aluminum Doors $111195 AS LOW AS 771-513) of the population figures or the opportunity for a business expansion-was not growing as fast as it had in the past. For(y dollars of a man's money might be tied up to get him $1 a year. He might be able to get $1.60 by putting it into a bank and leaving it there for a while. So he doesn't buy the stock. He may even sell it. Pull out for a while and see what comes next. Sit still. Matter of Arithmetic All this is pretty much a matter of arithmetic. But a Q"""' u""",1 "ul "sc" ,mu " etnrlr mnrkpt- snmo nnp nuts it there. Scientists' Demand Remaining High Corvallis D e m a n d s for highly trained scientists, for both teaching and research, are running far ahead of present numbers being gradu ated, it was reported recently at Oregon State university. While the number of scien tists in this country with doc torate degrees has doubled since 1950, available funds for scientific research have increased five times in the same period, it was noted. In a special report, Dr. Roy A. Young, OSU botany and plant pathology department head, said many scientists 'with Ph.D. degrees are being ! drawn into teaching to fill critical gaps in that field. I Adding to the demand are j greatly expanded programs by the National Science Foun ! dation. National Aeronautics i and Space Agency, U.S. Pub lic Health Service and other federal agencies. The big problem is to make it financially possible for stu dents with bachelor degrees to continue the necessary three or four additional years work for Ph.D.. degrees, Young said. He is chairman for the meetings of the Ameri can Institute of Biological Sci ences that will be held in Au gust at OSU and that will draw some 4,000 scientists to the campus. lHiSt ACCESSORIES JU'MSB WITH IVEIY WESTERN 0OOI A Mtlra HM MM " if W 'ttiisSSl 1 - t$m , L . mi lit m lm Aluminum Frameless RY-LOCK WINDOW SCREENS Install them in jifff with only a .craw, driver roll thtm up r wititar iteragr. Moit tiiti in Itock. Ordtr ipecial liiel new for prompt delivery. $266 $795 I ea. ONLY EASY TERMS Plenty of Off-street Parking FREE. Customer 6th & Fir St. Last Monday, so many peo ple sold stocks that for a time the tape-the '4-inch wide pa per strip which reports trans actions on the market - was more than 30 minutes behind telling what was going on at the floor of the exchange. There were too many sales for the machinery to cope with. It could have been bad news from Laos, and that small in Try and -By BENNETT CERF- BORIS KARLOFF was giving a party one evening in Hollywood, and one guest called ud to get directions. "Is it far from where I am about fourteen miles," estimated Karloff, the bat flies." "as From . personal column in a western gazette: "Gent who smokes, drinks, and carouses, wishes to meet lady who smokes, drinks, and carouses. Object: smok ing, drinking, and carous ing." Sidney Harris, acidulous Chicago critic, won the un dying enmity of a fat, pro lific lady novelist with a one-sentence review of her newest potboiler, "Miss Black's underwhelming." We understand that a budding scientist at Amherst is trying to calculate what the speed of lightning would be if it didn't top to zig-zag. e 1963. by Bennett Cerf. Distributed by Kins Features Syndicate Forest Service's Recreation Report Applegate district - Many of the roads and trails are still blocked by snow in the high country of the Applegate district. Depending on the weather, most of them should be open by late May. Roads now open may be difficult to drive during and immediately following rainstorms. Fishing has been good in Squaw lakes. Ashland district - Fishing at Fish lake is reported to be fair to good. The road from Butte Falls to Fish lake is open to all traffic, but rough in a few spots. , The Big Elk road from the Dead Indian highway to Fish lake is open for all types of vehicles, but it is rough. The road from Fish lake to Lake of the Woods and Fourmile lake is closed. Camping space is available at no charge in the Fish lake campground. House trailers and tent campers may use the trailer spaces at the resort. The nominal fee for trailer parking at the resort covers the charge for use of Ihe re sort facilities and utility hook ups. The Mt. Ashland Loop road is closed by snow drifts above Bull Gap. Bulla Falls district - Whis key Springs and Fourbit Creek campgrounds are open and in good condition. All other campgrounds in the higher elevations are still cov ered with snow. The Fish lake road is in good condition to Willow lake, but motorists are cautioned to watch for road equipment. The Fish lake road above the lake is in fair to good condi tion. It is advised that motorists keep to the main traveled roads, since many of the high elevation roads have not been opened for the season. Members of Forum Receive Certificates Ashland - Certificates were awarded 19 members of the Administrative Management for Small Business forum which has been sponsored jointly by Southern Oregon college, the Ashland Chamber of Commerce, and the Federal Small Business administra tion, at a special presentation dinner this week at the Mark ! Antony hotel, Ashland. Medford contractor Armin Richter was speaker for the event, and Dr. Esby C. McGill, SOC assistant to the presi dent, awarded certificates. Coordinator instructor for the forum, which was designed ; to promote sound procedural i practices in small business op ! eratlons, was Dr. Loy E. I Prickett, chairman of the col lege business department. J Receiving certificates were I Bruce Brasten, Melvin Hall, Richard Hensley, E. C. How I ell, Jack Mllhoan, William I Thorndikc, Clyde Wheaton, 1 Donald Wood, Medford; HaT i old C. Buck, Thomas Carter, Clifford Craft, Chester Fitch, Jessie Fitch, Shurman Gard ner, Mae D. Lay, Florence ; Martin, Gene Morris, Robert Onstad, M. E. Roberson, Phil ip Selby, Richard Strong, Wal ler Tanner, Bert Wright. Ash land; and Henry C. Martin, GrifJiH Pass. vestors were worried. Or there were some solid figures about business expansion and the general outlook out of, a conference of business leaders and administration figures at Hot Springs, Va., but nothing to indicate any sudden spec tacular push upwards. Then about midday, the market turned around and started to climb. By the end of the day, the averages were up. Stop Me now?" asked the guest. "Oh, new book, noted Harris, "is Fishing in Big Butte creek is fair, while many anglers have taken their limit from Willow lake. Union Creek district-There are still snow blockades at some points along all of the forest roads on the Union Creek district. Fishing has produced poor results this spring. Natural Bridge campground is now open and Union Creek camp ground may be open by the week end. Bcckie's cafe and the Union Creek Resort are open for business and have had several customers stop on their way to Seattle. JE55I Students To Visit PP&L Men High school junior and senior boys who are interested in careers in engineering, and also are enrolled for the Junior Engineers' and Scien tists' Summer Institute at Ore gon Slate university next month, will visit with Pacific Power and Light company's top technical specialists in Portland as part of their two- week JESSI program, the com pany has reported. 'PP&L s sponsorship of the career seminar affords these bright young men an oppor tunity to see engineers and scientists on the job at the company's engineering, re search and industrial develop ment departments, ' the com pany's Medford manager, F. A. Bencsh, said. 'JESSI is widely endorsed by engineering and education al leaders as helpful to high- school age youth seeking vo cational guidance," he said. The JESSI session will be gin June 10 at the OSU cam pus in Corvallis and provides a program of typical college class instruction sessions in 19 fields of technical and sci entific study. Arrangements for enrolling can be made through local high schools. Already registered to attend JESSI from the local area are Curtis Barnes, Todd Jones, and Wayne Singley. KEEPS COSTS D1WN Gary, Ind. - rtJPD - Willard Van Horn waged a thrifty campaign as the unopposed Republican candidate for nom ination to a Lake county judgeship. Van Horn said he spent four cents to mail his declaration papers and four cents to mail an account of his campaign expenses. QUEEN REPORTED ILL London -UTO- A sore throat and temperature forced Queen Elizabeth to cancel to pi'ilic Elizabeth to cancel two public ham Palace announced. CUTTER REPELLENT New cream formula is concentrated so that a little bit goes a long, long $ay. Non-greasy, non-sticky. Pleas-ant-Mncllinc, easy to use. Comes ) pocket .Lie, unbreakable flask. Keeps Institutions and funds came into the market to try for the stocks at the low prices, and they bought. But Wednesday, the market was a bit aimless again. "This market has fooled a lot of people," said one ana lyst. "Two weeks ago. it looked like it might have 'bot tomed out,' reached a low lev el for the time. It fooled me . . . the indicators this time didn't work. "It has been in an emotion al state." In the Day's News y FRANK JENKINS The latest on Laos: The United States and Rus sia agree on the necessity for an "effective" cease-fire there. The agreement is reached at a Washington meeting be tween U.S. Secretary of Slate Rusk and Soviet Ambassador Dobrynin. After conferring with Secretary Rusk for 35 minutes, Dobrynin tells re porters: "It is necessary to put into effect an agreement reached at Vienna last year by President Kennedy and So viet Premier Khrushchev for a neutral and independent Laos." The agreement leaves un answered the question wheth er pro-communist Pathet Lao forces will return to the cease fire line they broke through recently. WHO are these Pathet Lao Irnnti!1' They were supplied origin ally by the Soviet Union. They 1 were trained by North Viet Nam COMMUNIST officers. They probably include a lot of Red Chinese "volunteers." You will probably remem ber the Red Chinese "volun teers" In Korea and what they were there for. They were there to GRAB KOREA for Red China. It can be assumed that these Red Chinese "vol unteers" are in Laos lo grab tor Red China, if possible. 15UT At least The agreement reached In Washington indicates that Old Kroosh isn't ready YET to go to war over Laos which is of much more importance to Red China than to Red Russia. That's SOMETHING. rVNE more question: " How much is a commu nists word worth on an agreement, or anywhere else? TN AN effort to find an an a swer to that question, let's go back lo Vladimir Ilyich Lenin the founder of mod ern communism. World revo lution was his meat. By means of world revolution, he sought to conquer the world. As a part of his program, he put together what he called the Ten Commandments of Revo lution. Of these ten commandments for communists, the third reads: "There are no morals In politics: There is only EX PEDIENCY." The sixth com mandment reads: "Truth docs not count unless it serves an end." The ninth command ment reads: "Promises are like piecrusts: Made to be broken." Here is his tenth command ment." 'Scheme . . . zigzag . . .re treat ...ANYTHING to hasten the coming to power of communism." OO- -J Aftor all What good is an agreement with a communist? WE CAN all agree, I think, that ANYTHING that avoids ... or even postpones . shooting war away over there In Southeast Asia is worth a try. Other than friend ly trade and commerce, we have little business In that corner of the world. It is out side our orbit. We are proper ly concerned there only with lending our good offices to the cause of peace. But let's keep our fingers crossed on communist prom ises. Let's not jump to the con clusion that an agreement with a communist guarantees an honorable settlement of ANY issue. ENTERS HOSPITAL Reno, Ncv. - lUPli - Enter tainer Danny Kaye, who had complained of "feeling bad" for several days, was ordered hospitalized Thursday night by his physician. Dr. Clifton Wright of oake Tahoe ordered Kaye to St. Mary's hospital in Reno. There was no Imme diate explanation for the action. INSECT J -i- msfCl lEPltum 0 FRIDAY. MAY 18. Dropping From "The ntorket Is nervous," said another. "People don't know what is coming." Will Draw Debate The question of confidence, or lack of it, is one which will draw debate from Wall Streeters, depending on the short or the long view. The quick reaction of the administration to a proposed steel price increase dropped the stock averages on the sec ond trading day alter the pro posal was announced. They climbed again, then fell off steadily for the last five trad ing days of April. Last week WESTERN M6 Values! Tweed Patterns RUG RUNNERS, Rubber-backed, 24x72 inches Foam Rubber Patio Cushions, 1 I Q I AO Washable Vinyl Covers, Ass't Colors I a I 3" 1 143 Terry-Cloth Covered Pillows, filled with Foam Rubber Big Discount Terrific Discounts! FULL Vi-INCH BORE . . . "JET" 50-ft. Vinyl 50 EVERAIN LAWN-FLO $1.99 lV" S3.95 n mn lfl::.J"y-'''.;.5r TmmK V'w,'- -' S6.95 KOOL-GRASS M MQ Nylon re-inforced 94.13 Oscillating Sprinkler Covers 35 ft. by 43 ft. . EVERAIN Oscillating Sprinkler, Covers 40 ft. by 60 ft. . 98c Unguentine Spray 75c Whit. 1 UD Ointment 49c $1.69 Preparation H $1.11 $1.69 Driiran, 50 Tabl.H $1.11 $1.25 Abiorblnt Ji 83c $1.25 An.cln, 100 Tiblcli g3e 73c Br Alpirin, 100'. 49c u mm u 1 r I ,Z PICNIC JUG I ft "MIC S188 Cal ' 198 i k I Dflintl 1 ici-nui 1 j 1 tLm Qh Wit li 'C-Jr' s ; I r$2.00 DanaV HORtlCO I f S0UD FU t.tCtWC 1 COLOGNES its eUVVtRS .1 20 Carat Ambush I YOUR II stand' t jk $1.00 SIZE ' 11 Zs i-'psticki rnRY 1 Shulton SAtAorR 1 Sparkin9 X 1 e.tCT'w 1 COLOGNES or I .nt4 1 BODY POWDER I I ul.B""n I I 3 Popular I I Ulan!"" ' I V fragrances I 1 JSoJ ki.oo Ol 1 Y An9c,'lue OlllW,tS 1 r $5.00 Spray I FOR (EN 1 COLOGNES . 1 I ShopHe-0' 1 i 'I I Compl" 1 k $2. 50V Add Federal Excise Tax 'gMkuriyC MEDF0RD,S ORIGINAL DISCOjJTISjOJjil OPEN WEEK DAYS 8:00 TO 9:00 - they slid every day. Premise here is that with government keeping prices and wages in check, the fac tors that would drive stock prices up are restrained. And some find the Secur ities and Exchange Commis sion's year-long investigation of stock market dealings a curbing factor; it brings cau tion, and there are a few who eye this quality skeptically in a risk capital market. Statistics Look Good But the statistics-moslly-looked good this week. Indus trial production; payrolls; the THRIFT 2.49 85c HOSE fl. RUBBER HOSE, cord re-inforced $3.99 $4.45 $6.95 69c PAPER 91 1 PLATES I always on Taxable Merchandise -j 100 . , , 1962 (J Stocks hours that people worked, and the personal income fig ures went up. And that inflation: "I can't see that it is over," said one member of a brokerage firm who has been working in Wall Street since 1927. "It may ba in check for a while. But it'll keep on." "You need a good economy for a good market," said an other. "You need business to create jobs if it is going to ba sound. The administration will be trying to stimulate business again, maybe in a subtla way." Presto Air Coolers have new Air Bath Purifier that ends "swampy" odor, and rustproof tank of polystyrene. 53995 $4995 $5995 Roll-Around Stand $7.95 Other Popular Air Coolers from $18.88 to $39.95 ELECTRIC FANS AT DISCOUNT PRICES Immediate Service Our pharmacists, slocks and laboratory are ready to fill your prescriptions quickly, Avoid annoying waits. Bring your prescriptions here for fast service. IT'S NEW! : IT'S TWO! FLIP- IT'S YOUR CO ORDINATED EYE SHADOWI $1.75 plus tax. LIPSTICK NO IYISHAOOW COLOR-COOHDINATIO IN Out HINDI) CASI Nina "can't miss" combin-atlons-let you make color sense even if you make up In the dark. Just $175 plus tax. Just because Tussy Is smart enough to know a girl's eyes must compli ment her llps-or no one else will. Fret Delivery in Medford SUNDAYS 9 TO 5 0
