Monday
iarly Market Dealings Wipe Out Losses' Suffered
r ... . I , -
Wave of Buying
Orders Continue
After Holiday
Eisenhower Officials Draw Criticism
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1
1
CHILDREN INTERESTED Nationalist Chinese children heavily fortified island in the shadow of the Communist
seem to be unimpressed by soldiers but show an obvious China mainland has been the cause of savage artillery
interest in the photographer taking pictures of the Free duels with the mainland. (UPI)
China soldiers training on the beach of Mntsu Island. The
Education Authority Criticizes
County Superintendent System
Salem - IUPII - An educator
from the University of Ore
gon today strongly criticized
the present old system of
county school superintendents
and said it should be replaced
with "intermediate" units that
cross county lines. i
Dr. Carl L. Huffaker, pro
fessor emeritus of education
at the university, testified be
fore the Legislative Interim
Committee on Education. The
committee is considering
recommending an overhaul of
some kind in county school
unifs to the 1963 legislature.
"County lines are absolute'
ly meaningless" as far as local
school district boundaries are
concerned, Dr. Huffaker said
GRADUATION
CARDS
When youcreewwiih
to lend (he wry bett
Cwam' 217 Maln
01TOII1 9 Medford
He is a national authority in lies in Marion county but
many phases of education. West Salem and its schools
He game examples, includ- are just over the Willamette
ing the fact that the biggest river in Polk.
pupil population of Polk coun- Oregon's 3fi county school
ty is in Salem. Most of Salem ' superintendents are divided
Foreign
Briefs
WEST SAID UNDER 'SELF-DELUSION'
Moacow-illl'll-The Soviet government newspaper Izvaslia
said Wednesday the West is under "senseless self-delusion" if
it thinks West Berlin can be maintained as a virtual base
in the heart of East Germany.
SEEBEES LEAVE OKINAWA FOR THAILAND
Naha, Okinawa-lllPIUSeventy-one Seabees left here by air
today for Thailand to build base facilities lor the U.S. Marine
combat brigade which arrived there earlier this month.
The detachment, commanded by Lt. (jg) D. P. Thorchin.
of Laredo. Tex., it the first Seabee unit which has landed
in support oi combat-ready U.S. Marines since the Korean
War.
BUS LEAVES BRIDGE IN PHILIPPINES
Manila-iiN-A crowded bus carrying students on a holiday
outing plunged 800 feel off a wooden bridge in the southern
Philippines Wednesday night, killing 30 passengers and
Injuring 10.
PRICES FALL ON LONDON STOCK MARKET
London HI1V Stock prices iell slightly after an upward
surge Wednesday. Encouraging Wall Street reports came too
late to effect the London market.
over the idea of changing
their authority or functions,
and Huffaker took note of
this. He said many of the cur
rent activities of county school
superintendents "seem to be
groping for something to jus
tify existence."
Huffaker said intermediate
units could cross county lines
at will and by doing so could
provide services to local
schools in a variety of coun
tiesserving them on the basis
of geographical needs, and
unhindered by county bound
aries. He said each intermediate
unit should have its own
board, and that board's mem
bers should be chosen by the
boards of all local school dis
tricts within the unit, and
made up of various local
school board members.
The interim committee
seems convinced that "some
thing" must be retained as a
service unit between the local
school and state level; if not a
county school superintendent,
then something like it.
I Washington -0IP- Senate
investigators sharply criti
' cized Eislnhower administra
' tion officials today for "bar
' gaining away" $3.36 mi'avon
in potential profits from the
New York-dW-Dealings on i nation's strategic stockpile.
the charge was made be
fore; Sen. Stuart Symington's
special investigating subcom
mittee by Louis Brooks, a
comptroller for General Serv
ices Administration, which
manages the stockpile.
The beneficiary of the gov
ernment's forfeiture, Brooks
said, was the Climax Molyb
denum Co., Climax. Colo. He
said the company also made
other windfall profits of
$835,000.
aft P 1
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Stock Market
Tickers Trailing
New York -HOT- With open
ings in many key issues de
laved, brokers reported that
huy orders were overtaking
their facilities, and high speed
tickers were falling far be
hind the trading floor.
Prices were sharply higher
on the New York Stock Ex
change today in a massive
continuation of Tue.sdav's ral
ly. Near the close of the first
hour a few pivotal issues were
off from their starting highs
by as much as a point or two
but still showing sizable gains
on the day in most instances.
Standard & Poor's reported
that its Index at 10:45 a.m.
showed a gain of 0.90, indi
cating a rise of $4.7 billion
in paper values since Friday's
close.
"Flash" prices - indicating
more than a five-minute late
ness on the tape - showed
American Telephone up 3' j.
Jersey Standard up 1. Ana
conda Southern Pacific
1 1 . Haveg 3' 4, Chrvsler
Du Pont 3H. U.S. Steel K-.
and l.ukens 4'4.
the New Jfork Stock Ex
change in the first hour today
more i'an wiped out the re
maining losses from Monday's
disastrous decline, worst since
the crash of 1929.
Whether the trend would
continue remained to be seen
as trading progressed at the
same hectic pace which
marked Tuesday's dealings
when 14,750,000 shares ex
changed hands in the greatest
volume since Oct. 29, 1929.
An estimated $13.5 billion
of Monday's paper value loss
of $20.8 billion was recovered
Tuesday in a wave of buying
orders that continued today
after the Memorial Day holi
day. Stock indexes after the
first hour today showed
values of $7.65 billion above
Tuesday's close.
Trading in the first hour
was 1.760,000 shares, only
20,000 behind the same period '
Tuesday, and the high speed
ticker tapes were running at
least 35 minutes late.
Prices generally were well !
above Tuesday's close, al-,
though as the morning pro-1
grossed some fell below to-,
day's opening. For example,
American Telephone and ,
Telegraph, the nation's most '
widely held stock, started the 1
day at $115. up $6.50, but I
later fell off to $112.50.
Shortly before 8 a.m. (PST)
E. I. du Pont de Nemours & I
Co., which has been under
court order to divest itself of
stock holdings in General Mo
tors, announced it would start
doing so by distributing a half
share of General Motors for
each share held of Du Pont. A 1
little more than a third of the
total GM holdings would be
involved in the first action
which Du Pont said would be j
the only one this year. !
Street Catching Up
Wall Street busied itself
behind the scenes during
Wednesday's Memorial Day 1
holiday catching up on the !
bookkeeping hangover from
the two most frenzied days of
trading since the crash of '29.
Students of the market
would not commit themselves
to declarations that the bot
tom had been reached and
that the selloff was over. But
there was optimism nonethe
less. Europe Shares Recover
Spurring that along was
the recovery on European ex
changes, where shares tum
bled Tuesday in the aftermath
of the close-to-the-record sell
off of 9.3 million shares on the
New York Stock Exchange
Monday. European exchanges,
open Wednesday, followed
Tuesday's late rebound in
New York and shot upward.
London, Frankfurt, Zurich
and Amsterdam all posted
climbing prices.
The Dow-Jonrs industrial
average for 30 industrial
stocks stood at 603.96 as trad
ing began today, up a spec
tacular 27.03 points from the
Monday close.
The amount Involved,
cording to Brduks, was
difference between what
could have been made by sell
ing molybdenum and the $1,
200,000 the government re
ceived for cancelling the con
tract. The government hopes to
show later that a government
consultant who also worked
for Climax had a hand in de-
ac- ed the then defense mobilizer, .
.he 'Gordon Gray, and perhaps:
members 01 me tiseimuwc.
cabinet, before he permitted
cancellation of the contract.
Thirty eight million pounds
of molybdenum still were due
for delivery to the government
when the contract was can
celled. Brooks said he drafted a
memorandum at the time
which indicated hat Climax
cisions which benefited the ! stood to reap additional prof
company. . 1 its of $4.56 million because
Brooks testified that the key j the market price for molyb
decision in the cancellation denum had risen since the
negotiations was made Oct. j government contracted for it.
1 11, 1957, by Franlin G. Floete,
. then GSA administrator.
i Brooks said Floete consult-
Regional Edition
Medford
Speaker Scheduled for
Willamette Ceremony
Salem i!PD Charles H. Per
cy f Chicago, hoard chair
man of Bell and Howell Co..
will be the main speaker at
the 120th commencement
here of Willamettr university
Some 219 degrees will he
granted in the ceremonies
Sunday.
PROMOTED
drian Douglas Van Horn
Jr. was promoted recently
from Army sergeant to ser
geant lirst class at Ft. Hood;
Tex. He is a son of Mr. and
Mrs. A. D. Van Horn, Cen
tral Point.
He is a 1954 graduate of
Crater High school. He en
tered the service in March,
I95S. and was stationed at Ft.
Old. Calif After completing
his basic training he was sent
to Korea in August. I9.T8
His wifj is the former Miss
Sherrlll vnn Ruskirk of Cen
tral Point. They have two
children, a son. Scott Dinislv
.1. and a daughter. Catherine
l.ynn. I ft months.
Japanese Family
Ends Oregon Stay
Brookings - IUPII - Nobuo
Fujita, the former Japanese
pilot, concluded a six-day visit
to the area he bombed In
World War II Wednesday very
pleased at the warm welcome
he received.
Fujita, his wife and 25-year-old
son left here by car
for San Francisco with Mr.
and Mrs. Henry Kerr, who
hosted them during their stay
here.
The Fujltas plan lo spend
about two days in San Fran
cisco and then go on to Los
Antieles from where they
start their flight hark to Ja
pan on June 6.
Fujita summed up his feel
ings at a farewell coffee at
tended hy some 20 Junior
Chamber of Commerce mem
bers and their wives by saying
he was "very happy "
Early in World War II Fu
jita dropped bombs on south
west Oregon forests in a vain
effort to start major forest
ires. He flew a small plane
launched from a submarine.
When Jaycees originally in
vited him some local veterans
expressed opposition, but it
dimmed and there were no in
cidents during his stay here
Now Many Wear
FALSE TEETH
With Little Worry
Fm. uil. li'ih or tnrtf without
rr of miwur fi ltih dmppuii,
tllp(inj pf wohhlini FASrUKTH
hohii pU'M flrmfr nrt mor rom
tcrurtlT Ttm plenum powr1r h no
i-irtimf. ivr ptT urr or fflirt.
tVvjn 1 ciiM n::. It lUihn
( rtfn-rtt1 rnA
i"v'- trin at rAMUTH 0
toy 4tut onus it.
- Page 2A
Tribune
MEDFORD, OREGON, THURSDAY, MAY 31, 1962
Bochum, Germany - U1P" -Heinz
Kaminski, director of
the observatory here, said his
monitors still were hearing
signals on Wednesday from
Russia's Cosmos V earth satel
lite. But he said other signals
on a Russian space frequency
that were picked up on Tues
day were no . longer being
heard. -'
TOPS IN QUALITY!
LOW IN PRICE
000 SUPER MARKET
000
LIMIT R
Merry-Go-Round
Rides
Thurs. - Fri. - Sat.
Tickat at out check stand. Children mutt
be accompanied by a parent.
GHTS RESERVED -FREE DELIVERY
FE3EIE
Samples Pepsi-Cola, Teem
and Snider's les Cream
Have a Float - Friday Noon to 6 - Sat. 10 to 6
Pepsi and Teem ..... 6 Pack 39c plus deposit
Snider's Ice Cream V2 gallon 68c
Skippy
Dog and Cat
Food
12 $100
cans I
I 1
sm si
In
Whole Drawn
Soran's or Swift
Premium
Sausage Rolls
3. $100
CHET'S FROZEN
MEAT PIES
$0 00
for i
t , - . , Y. t
premium j-i yv fEWra
SWIFT'S
Wieners
Fresh Tamales, Robertson Beef or Chicken 4 for 79c
Fresh Tortillas, Robertson Mexican Style, Dozen 25c M
Fresh Salads, Robertson Potato, Macaroni, Gelatin each 33c
Haley's Buttered Beef or Veal Steaks, 12-oi. pkg 65e
Borden's Sliced Cheese, choose from American, Pimento,
Swiss, Very Sharp 6-oz. packages 2 for 49c
Bananas
Cabbage
WHITE
Bermuda
Onions
ibS. 29'
Bell Peppers
Lb. i
mt na i &
Lb. 0
10ceach
Blue Bonnet
MARGARINE
4 ,. Sl00
Pin Isle Sliced
PINEAPPLE
No. 2 Cent
4 ... 00
Sunshine
KRISPY
CRACKERS
2-Lb.
Box
49'
WASHINGTON
DELICIOUS
APPLES
2
lbs. Zt
40-lb. box
$450
Fluhrer's
LARGE
POTATO
BREAD
23 c E,ch
Scollies
Ficial Tissue
400 Ct. Box..
4 sl
Peaches
Whole Freestone
21-2 Tins .
4 sl
Soup
Cjimpbellii Qualify
10-Ot., All VrieMei
7'"'sl
White Star
CHUNK
TUNA
Vat Sizt Cans
4
$00
350 East Pine St. "A Good Place To Trade" Central Point