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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (July 22, 1963)
Your Money's By SYLVIA PORTER Cepy riant, Hall Syndicate. Inc. CHRISTINE KEELER'S 'FINANCIAL' INFLUENCE .. My copy of the mld-June London Economist came in by mail a tew aays ago and tnere on Its cover was a picture ot Christine Keeler. For the first time in the 120-year history of this august journal ot finance a woman was on its cover, and of all women, it was, to quote the Economist's lead story, the "21-year-old trollop" whose affair with the former Secretary of State for War John Profumo has almost toppled the Conservative government of Prime Minister Harold Mac- millan. But of course. As soon as I saw her picture (one of her least attractive ones, incidentally), I also saw the logic of the Economist s choice. Miss Keeler has, among other things, been directly responsible for the loss of billions of dollars Jn the value of stocks listed on the London and New York Stock Exchanges, she has raised serious questions about the future stability of the British pound, she has made many U. S. investors leery of investing in Britain. Because of iha Keeler-Profumo scandal and the doubts t it has cast on many aspects of Prim Minister Macmil I lan's government, the chances that th Labor party will ; win th next British elections have soared. Th Labor party in power in Britain for th first tim sine. 1951 easily could lead to major and unsettling changes In the ' financialconomlc policies of Britain., ' Because of uncertainty, about when a new election will be called - and it must be called by October 1964 - there is distinct uneasiness about the position of the pound. Macmil lan last week declared that, "No British government should Ibe brought down by the action of ... . tarts," and for the moment he seems to be riding out the scandal. But the results of recent local elections in England are hardly reassuring to the Conservative party, and uneasiness will persist until the date of an election is announced, and probably until the results are known. ,. .. . .... This is not idle conjecture. Disclosures about Christine Keeler and the demi-world in which she moves have had an unmistakeable influence on financial movements in the West ern world. Item: In the days following Profumo's admission that he had lied about Miss Keeler, and his resignation, the value of common stocks listed on the London stock exchange slumped about $2.5 billion and the value of stocks on the New York Stock Exchange about $11 billion. "It was no accident," says Arthur Wiesenberger, head of the New York investment firm bearing his name. The de cline was touched off by fears of the affair's effect on the Conservative government for, "Any stock market prefers the status quo to a change, and capital, like mercury, runs quick ly when change impends." Investor sentiment, Wiesenberger adds, "plays more than a 60 per cent role in setting stock prices" and stock investors usually prefer "conservative" governments to "parties that favor changes." Item! Since the Profumo scandal broke, U. S. investors have retreated somewhat from the British market and says one U. S. broker, "So long as chances for a Labor election victory remain strong, I can't fee. any real American demand for British shares." This may change if matters quiet down but the initial reaction was clear. ,- Hem: The U.S. and Britain have just reached new agree ments to strengthen protection of each other's currencies in case there is a speculative run on either the dollar or the pound, and the probability is, that if gamblers stage a run on the pound, they'll be badly burned. Nevertheless, London money experts are said to be sure there will be an attack on the pound sterling as soon as a date for a British general election is announced because of uncertainty about what a victorious Labor party's attitude would be toward maintain ing the pound's value. I Hem: Private detective agencies in London have been in a boom since the Profumo disclosures. The reason cabinet ministers and others are hiring detectives, says "The In sider's Newsletter," is "not to be caught in the act but exact ly the contrary." They want evidence to prove "they are on the straight and narrow in case new scandals should erupt." Item: A persistent "financial" report (which I certainly can't confirm) is that the price of call girls in London is up Dennis the Menace MEDFORD MAIL TRIBUNE. MEDFORD. OREGON MONDAY. JULY 22. 1963 Hl,K0NEYr Eastern Oregon Wilderness Area Expansion Planned 20 per cent. i i Yes, Christine Keeler has earned her place in the financial pages as well as the most sordid gossip sheets of the world. By A. ROBERT SMITH Mail Tribune Washington Correspondent Washington - The Forest Service reportedly will ex pand the size of Eagle Gap Wild erness Area in east ern Oregon as part of its plan for re solving the M i nam river con troversy The' contro versy center ed over a smith multiple - use plan which the Forest Serv ice unveiled two years aeo for constructing a road some 31 miles along the Minam river for recreation purposes in this scenic area on the bor der of Union and Wallowa counties. The Izaak Walton League, the Sierra Club and other c o n s e rvation organizations protested the road plan. The Minam is valued by these groups as a wild river in an area relatively unscarred or untouched by civilzation. Ac cess is gained by foot or horse back only, and that's the way these groups wanted to keep it. A new group called "Save the Minam Inc." was formed, headed by George Zahl of Baker, whq has since left Oregon. The disputed Minam river drainage consists of 150,000 Tests Scheduled For Marlon Brando Santa Monica, Calif.-tUPII-Actor Marlon Brando was to undego diagnostic tests this week at St. John's Hospital where he was recuperating today from a kidney ailment. Attendants said the 39-year-old actor was "improving nicely" and that his tempera ture had dropped to normal over the week end for the first time since he was rush ed to the hospital in an am bulance last Wednesday. Attendants said it was too early to predict when tne Academy Award winning ac tor would be released from the hospital. Marshall High Project Is Major Undertaking Eugene Marshall High school's project in flexible scheduling is considered one of the major undertakings in current educational . experi mentation, according to Dr. J. Lloyd Trump, associate secre tary of the National Associa tion of Secondary School Principals. Dr. Trump spoke last week at a workshop in Secondary School Administration at the University, of Oregon. The workshop was sponsored by the Oregon association of Sec ondary School Principals. Ar thur C. Hearn. professor of education at the university, was director. :hi will SERVICE . ft' ooo 1 IMI WORDS that COMFORT For the Lord thy Cod bringeththee-. , into a good land, a land of brooks of water .. . DEUTEROXOMY S:7 PERL FUNERAL HOME CORNER SIXTH AND OAKDALE Spacious Parking lot w U'e promptly rt pond la ell calls, day or night. Trump, who received his doctorate from the University of Chicago, has become well known for his leadership in educational change. Much of his time as associate secretary of the NASSP has been de voted to working with dis trilcs seeking news ways to organize classes and utilize staff resources. In Opening Address In his opening address to the Oregon Secondary Prin cipals, Trump focused on the problems secondary leaders must face in shifting from tra ditional approaches of sched uling and building use to pat terns and routines that will have as a goal the returning ! of control to the teacher and 1 students. He warned that Marshall High school's effort to set schedules for each student by 1 computer aid should" not be judged on its operation the first year. He said that changes by any high school should not be evaluated until adequate time has been given j to the project. Reports from Oregon high schools engaged in organiza- I tional or curricular changes were made the first three days , of NASSP workshop. j Programs Included develop mental reading at David Douglas High school; the i dropout and potential drop out at Jefferson High school of Portland; opening and clos- I ing the school year at Wilson j High school of Portland; eval uation of teachers in the Salem public schools; master scheduling at Marshfield High school of Coos Bay. MEMBER BY INVITATION Ufa viitr ot (Hfc olbtn Hult NEW LEGISLATION SEEN Chicago - lUPli - The head of the student non-violent coord inating committee announced Saturday that a new, tougher civil rights bill than that pro posed by President Kennedy will be introduced in Cong ress today. RECORD INCOME Washington-flirt - Personal income in the United States reached a record annual rate of $462 billion in June, an increase of S2 billion over May. the Commerce Depart ment reported Sunday. acres of timberland in Whit man and Wallowa national forests. About a third of it lies within the Eagle Gap Wilderness Area, which it self consists of 220,280 acres in the heart of these two ad jacent forests. Empties Into' Wallowa The Minam river starts in Minam lake in the Wilderness area and flows 45 miles north and empties Into the Wallowa river at the town of Minam. All for eight miles of the riv- er pass through federal for-estland. The Forest Service wsiniori to make the area accessible for tourists and local citizens who might wish to drive ipto the Minam country for pic nics or camping. But protests forced them In back off from building a 31 mile road. A new plan would preserve the basic intent of providing access but limit the road to a short stretch of about six miles along the river. The sweetener for the con servation groups is that the tagie Gap Wilderness Area would be extended, to what extent js still not certain. The Forest Service had proposed adding about 12,000 acres, part of which would include an additional section of the river. Congressman Al Ull- man has suggested that the Eagle Gap be extended fur ther along the river. He also insists that public hearings in Oregon be held by the For est Service after the new plan is made public so that local interests can give their reac tion before the plan is adopted. ' Might Reduce Timber Cut Expansion of the wilderness area substantially might re duce the allowable cut of commercial timber in the na tional forests which now amounts to 6 million board feel. Ponderosa pine predom inates. At a recent meeting with state agencies and conserva tion groups, the Forest Serv ice reports that its new mul tiple-use plan won general ap proval. Aside from logging, the area includes an exclusive dude ranch, Red's Horse Ranch, which caters to the comfort of its clients by fly ing tnem to the ranch s own private airstrip. Congressman Ullman, who has been consulted in resolv ing the controversy, said he regards the new Forest Serv ice plan as a "constructive approach to the preservation of the basic wilderness and recreation assets of the Mi nam river," He said he hopes it will resolve the differences and protect the best interests of the people of the area and nation. Dutch Queen Ice Cream Half Gal. Be Sure To Get YOUR FREE PUNCH Van Camps Pork and Beans No. 2 tin for 1 'k )i7tfRrffiitffift Fisher's BiskitMix 40-oz. pkg. 2B( Absolutely no purchase re quired to obtain your free punch. You may win up to $5,000 in CASHI Here are some of our LUCKY WINNERS Mr. Jim Hamilton-Grants Past $500.00 Mr. Croucher Medford ...$100.00 Mrs. Iva Hawkins - Medford ....$ 50.00 Mrs. Mary Clark - Grants Pass $ 40.00 Mrs. Nick Theis - Medford $100.00 Mrs. Ted Gyton - Medford ......$ 40.00 Mr. H. Leon Myers - Medford.!.. $ 60.00 Mr. W. Pratt - Ashland ....$150.00 Red Rose Flour FAMILY TESTED ENRICHED 10-lb. bag 82) Head-on Smashup Takes Three Lives Woodland, Wash.JlPll-Three persons were killed In a head- j on crash f two cars late Sat urday 4'.i miles north of here 1 on U.S. Highway 99. Thny were identified by the Washington State Patrol as Carl Schrieber. 22' Kala-I ma; Raymond W. Blumer. 59. Kelso, and Cordelia Howell, 52, also of Kelso. ' Miss Howell was pas-, senger in Blumer'i car when it collided with a car driven by Schrieber. police said. Ohio Book Matches 50 Count Pkg. . pkg. 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Prlcei Iffecrlve thru Wednesday, July 24th f .Va mm m m m m mm .am I
