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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Dec. 3, 1963)
. ' Sft Ait fit hs HfcADY FOR SKIERS The Mountain Station end of the Palm Springs Aerial Tramway at the 8,000-foot level of Mt. Jacinto in California now lays under 11 inches of snow and is ready for southern California skiers. The 15 minute ride up the side of the mountain takes visitors from 85 degree temperatures at the bot tom to about 18 degrees at the top. (UPI) HOW TO MAKE MONEY IN STOCKS Let's say you bought American Telephone shares Wednesday, Nov. 20, after the company announced its triple threat of a stock split, a dividend increase and an offering of additional stock to its shareholders. Let's say you dumped those same shares Friday, Nov. 22, after news of President Kennedy's assassination had sent the market into a tailspin. If you were among these panicky in-and-outers and there were far too many of them your personal investment record for that historic week is splattered with red ink. You earned nothing in dividends. You lost a chunk of cash on your sale. You got a real licking as the once staid old lady of Wall Street bounced around the ticker tape in a most unladylike fashion. But let's say you bought Mother Bell's share a few years ago, when the stock was considered an appropriate investment only for widows and orphans, and you have held your shares through stock splits, dividend increases, major price fluctuations up and down. You have earned a comfortable dividend year in and year out. You have an impressive profit on paper. Even though hundreds of stocks have turned in a far more spectacular performance than Telephone you're ahead. You're ahead because you followed two of the most funda mental investment guides (1) buy a sound stock; (2) hold for the long pull. These guides always have seemed obvious. But not until yesterday, when the Center for Research in Security Prices issued the most comprehensive report ever made on what you can earn from investments in common stocks over a long period, have we had indisputable proof of how right the guides are. This initial study by the Center which is based at the Uni versity of Chicago's Graduate School of Business and sponsored by Merrill Lynch, Pierce, Fenner & Smith answers for the first time what an investor might have gained or lost if he had bought all common stocks listed on the New York Stock Exchange and held the portfolio for varying periods through 1900. A first key finding is that you can make much more from long-term ownership of a cross-section of stocks than is gen erally believed. If an investor had bought an NYSE portfolio in 1950 and sold 1926 and held it through 1960, his before-tax annual rate of re turn, compounded annually and with reinvestment of dividends, would have come to a surprisingly high 9.01 per cent. This 35 year period covered depressions and boom, war and peace and yet if the investor had held on, his dollar in stocks would have increased 9 per cent each year. A second key finding is that you can earn considerably more from a long-term investment in stock than from other popular investments. Savings in banks or savings institutions nccr earned as much as 6 per cent a year in the 102(1-60 period. Returns on mortgages averaged about 5 per cent and on U. S. Government and municipal bonds, less than 4 per cent. During most of the span, the annual return on corporate bonds was between 5 and 8 per cent. A third key finding is that during the postwar period of 1950-60, annual rates of return on stocks have been substantially higher than in most periods prior to World War II. In an investor had bought an NYSE portfolio in 1950 and sold at varying dates through 1960, his annual rate of return would have exceeded 10 per cent and this goes for all tax brackets, also takes into consideration payment of capital gains taxes. Of course, stock investing isn't this easy. No one buys a portfolio of 1,700 stocks. He buys a few and if he chooses well, he can make 200 per cent a year lose 100 per cent. No one buys the idea ot noiding tor a genera tion. He can lose most of his nestegg if he is forced out or scared out of his investments during a price crash. Still this record underlines what a dollar in stocks can earn over the long pull and a dollar invested in 1926, earning 9 per cent a year, compounded annually, would have been worth over S20 in 1960. It surely dramatizes the fact that the person who loses is the in-and-outer . like the amateurs who have just been whip sawed by kindly old Mother Bell. STAR -By CLAY R. Your Daity Acce'dtno To develop mesioge for Wednesdov, read words corresponding to numbers D: 1- s-lo-M ?3 33-87-8 of your Zodiac birth sign. 1 Seek 31 Attention 2 Evening 32 Sell 31s 33 Ar. I Good 3i Invt'OMoni 5 Sctnt 35 Don't 6 For 3o Or 7 Heolih'i 37 B 8 Cooperation 38 Hurries' 9Pn,eie 39 Reliance 10 With i0 And 1' Soke 41 Fosoroble 12 ConttmplOlB 42 Shut yf UUtUS I Cr MAY Jl 67-7 1-76 GEMINI MAY J2 JUNE 23 42-43-5144 .'S7273-74 13 Be 43 Your 14Trv 15 Future 16 Mot 17W-th II Oooovte 19Se 70 To 21 ti 22 Fnervjly 23 Aoorooch 24 Fb- 25 Fulty 26 Acetv0 27AMflir 21 Socal 29 Nledt 44 W.th 45 ll 46A"vce 47Fer 48 Aarr-ly 49 Be; reet on SOEie 51 Mental 52 A 53 On 54 Weilwivner 55 Oc t 54W.ie 57 in 5iOonoe 39 Con v I'- IfV4.16-20.21 VltGO AUG. 21 UPT Jl 30 Keep uo 60 Reipomn ITMM5-17.32 (Good Ad RJ.40.l.8a HteSS ...IV ' ? " '.Afifesilkl .. ''2. . , . H' 4 Your Money's Worth By SYLVIA PORTER Copyright. Hill Syndicate, Int. and if he chooses badly, he can GAZERi? POLLAN- IIIA Activity Guiee to tht Start. OCT. 23 4,t- M-54-59-M0 lYou 62 Receive 63 To 64 Ooor 65 5ociolirma 66Der 67 A"d 61 Oeen 69 The 70 Into 71 Inviting 72 On 73 fironoe 74 Thought! 75 A 76F,.endi 78 Deonon 79 To 50 Droinc 81 Dant 82 Worrv 83 Rrogrfii 84 Revnion 85Rood'ng 86 Vojr 87 Ma'.e 88 Money 89 Denvandi icoirio OCT 34 tAU, 19-1945-48C- r50-63-e6.90: SACtTTAfttUI NOV 2J J DEC 22 fa U5.37-38-70pi CA'KKOIN DEC 23 tf JAN. 20 33-50 534 1 3A 5- 9-27 -294f 31.36-80-84. rttcts Ft! 20)4, MA. 21 T? 4- 7-11-134 54.57.A 1. 90Advon:ei NeuVri Oregon's Tax Problems Are Reviewed at Chamber Lunch A review of Oregon's tax iroblems, together with an as sessment of possible solutions, with made in a talk by the di rector of the Oregon Retail Council of Associated Oregon In dustries. The speaker, Doug Heider, twice elected as a representa tive to the Oregon legislature from Marion County, told the noon luncheon of the Medford Chamber of Commerce Round table that the state will face a S41 million "dollar gap" at the next session of the legislature. Heider based his statement on estimates by the legislative fis cal officer of the projected budget for the next biennium in light of additional automatic in creases in basic school support and higher education requests. Budget Increases During the 10-year period be tween the 1951-53 and the 1961-63 bienniums, Heider noted, the state's general fund budget in creased over 100 per cent from $175 million to $366 million. Principal causes for the in crease were that the basic school support costs doubled during that decade and higher education costs tripled, he said. During that time, there were some changes in the tax struc ture (there was a tax increase in 1955, followed by a decrease in 195"), but no "substantial" innovation was effected. Even Financial Keel Despite the considerable in creases in the general fund budget, the state managed to stay on an even financial keel during that period by drawing on budget surpluses accumu lated during World War II, by means of the progressive in come tax rate, and because the 1961 legislature passed some one-shot tax revenues, which were used for that biennium only, he said. But this year s legislature ran into trouble because there was an additional budget increase of $37 million, because the sur pluses were all used up, and be cause the one - shot revenues were no longer available. the result of the dilemma was the legislature's $60 million tax package which was presented to the voters in October, and which was so badly beaten at the polls. Session Reduces Budget The special session of the leg islature has taken action to re duce the $404 million budget originally requested to a new total of $358 million. But the state, Heider said, is now faced with a probable defi cit of $41 million, and the prob lem is how to meet it. "The existing tax base is in adequate," Heider said. "The in come tax is too narrowly based, and local or property taxes are too high." There are two commonly pro posed ways of changing the tax structure, the speaker said: by broadening the existing income tax structure with the 1 per cent net recipts tax plan, which Gov. Mark Hatfield has advocated, or by means of instituting a sales tax. Support Is Unlikely It seems unlikely, Heider said, in view of action by the legis lature and sentiment expressed by the voters at the referendum election, that the net recipts tax plan will receive any measure of support. However, some kind of a gen eral sales tax , with or without food being included, seems to be receiving considerable inter est and study, the speaker noted, He said the AOI has taken "no final position" on a sales tax, but does have one dratted, var ious legislators are known to lavor one, and tne Portland Chamber of Commerce and the Oregon Farm Bureau may be ready to initiate one. Provide Some Relief Most such sales tax drafts also provide for property tax and income tax relief, he said, depending m percentage on whether food is included in the tax plan. But Hcirer said he fell tne leg islature should also consider "other reforms" in the tax struc ture. The narrow tax base nrist be broadened, he said, capital gains should not be taxed as ordinary income, and the inven tory tax ("the worst in Ore gon") should be repealed. The third alternative which must be considered, too, Heider said, is the possibility of "spend ing less." He urged Oregon res idents to "let the legislature know" how they feel on the sub ject. Sabu of Movie Fame Dies at 39 HOLLYWOOD (UPI) - Sabu, famed "Elephant Boy" of the movies, died Monday of a heart attack at his home. He was 39. Born Sabu Dastagir in a mid dle class Moslem family in My sore, India, he was tne son ot Shaik Abraham, the elephant trainer for the Maharajah of Karapur. Sabu's discovery led to many films during and following his, schooling in England and the United States. They include "Drums," "The Thief of Bag dad," "Jungle Book," "End of the River," "White Savage," "Song of India" and many others. MEDFORD 1 SURGERY SUCCESSFUL-Deborah Gable, 9, leaves Children's Hospital in Los Angeles after a successful operation remedied the most fatal and crippling of all congenital heart deformities transposition of the aorta and pulmonary arteries. When this hap pens, the heart keeps recirculating blood futilely back and forth between the heart and lungs through the pulmonary artery and used blood is recirculated to all other parts of the body by the aorta. Correction was thought to be impossible until Swedish sur geon Ake Senning devised a new operation which surgeons in Los Angeles adapted to Deborah's condition. (UPI) 'Mb Ocean Hitchhiker Goes With Host for Dinner It can happen. You are lazily swimming along in warm ocean water when suddenly you experience a peculiar pulling sensation on the skin of your chest. You look to see what has hap pened and what you may sec can frighten you half to death. Looking you right in the eye is a long, slender fish, the top of its head in close contact with the skin of your chest, If you are a reasonably well informed person and not easily excited, you will realize that you are playing host to one of the remoras. The harmless habit of attaching itself to the under bodies of creatures larg er than itself and then "just going along for the ride. You may remember too, that the remora will attach itself to a boat, a turtle, or a lazy swim mer. It will be willing to accom pany you if you happen to be going the same way the fish has decided on. Head Suction Cup The remoras, of which there are several varities, most of which prefer the warmer wa ters of the world, are often called "suckerfish" because of the powerful sucktorial disk they wear on the top of t h e head. This disk, oval in outline is usually black and resembles a piece of corrugated rubber. the remoras are expert swimmers but they prefer to let some larger creature do the work and they just hang on and go along for the ride. There is a goad reason for this hitchhiking habit: when the larger host, the one that is Try and By BENNETT CERF- AFTER extraordinary displays of patience, the parents of a thrco-ycar-old tomboy had taught her to say grace before meals. Then one day they heard her carefully reciting the prayer while she was taking her bath. "This isn't the time to say grace," called in her mother. "You do that just before you cat." "I know," called back the youngster cheerily. "I just swallowed the soap." When Andrew Jackson was President, he appointed a Quaker youth, Richard Vaux, secretary to the lega tion at the Court ot St Jamea. In A letter home to hla mother. Richard wrote. 'I went to a ball at the palace and even danced with Prlnceai Victoria." Hla mother read the letter carefully, then told her hunband, "I do hope that our Richard will not maxry out-of-mceting!" SIGNS TODAY. In a Ntwaik piece-goods factory: "Please don't go home on your coffe break." Along Rout 7 on Cape Cod; "DrUe hk lightning: crash Ilk thunder:" O 1M. br Bennclt Crt. Dlitrtbuttd by Klof Future! Syndic! MAIL TRIBUNE. MEUl'OKD, Small Worlds Around Us By LYNN M. W ATKINS (SflMtf ln Tribune) Sr"4lk6l l43l doing the towing, finds food, the remora unhooks itself and grabs what crumbs of flesh drop from the predator's table. After the meal, the remora re - attaches itself ready to go along where- ever the conveyance is headed. One of the most common mem bers of this remarkable family of fish is the shark remora. This one, true to its name, pre fers to go along with a shark but will, on occasion, attach it- self to any other large fish I even to the underside of a boat or a human swimmer. The off-shore remora is most often found riding along un der sea turtles, or hanging on to the underside of a boat. The swordfish remora selects sword fish; the spcarfish remora, the I spearfish. Most remoras are se lective, if given a choice, but will take advantage of any large conveyance that offers a ride 1 and eventual food. Many folks, including some fishermen, often call it a "pilot fish;" a fish that guides sharks or other predators to intended victims, but the pilot fish is a "fish of a different color;" the remora docs no directing, it just rides along. The oval disk on the top of the head is a highly developed organ of unknown structural de sign. It has considerable suc tion and cannot be pulled loose j if the force of the pull is back- ward. The remora knows this and when it wants to detach it self, it swims forward. When its speed exceeds the forward force, the suction Is released. This is truly a remarkable fish with the equivalent of a "plumber's helper" on the top of the head. Stop Me OKUGON Letters Continue For Mrs. Kennedy WASHINGTON (UPI) - Tens of thousands ot letters and tele grams of condolence are still pouring into the White House from all over the world. Mrs. John F. Kennedy ex pressed her "great apprecia tion" Monday to those who have written In her and her two children. The former First Lady con veyed her thanks through White House Secretary Pierre Salin ger. At last count, 293.000 let ters and 26,000 telegrams had been received, all addressed personally to the young widow or the children. Salinger said that "bags and bags and bags ot mail are still to be opened and counted. Another estimated 300,000 let ters and telegrams have been sent to Hyannis Port, Mass., home of the Kennedy family. These are being forwarded to the White House. Salinger said the messages "have not only been a source of comfort to her but have re newed her strength with a knowledge of how many Ameri cans and people abroad share her pride in the President and all that he stood for." Reserve Unit Pays Tribute to Kennedy Brig. Gen. William H. Pren tice, of Medford, reviewed Re ceiving Company, 104th Divi sion (Training) during ceremo nies recently in tribute to the late President, John F. Kenne dy. Marking the death in office of the commander in chief, the Medford based Army Reserve company was told the historical significance of their service. Capt. Robert D. Stephenson, company commander, recalled the three previous assassina tions of presidents. He also re called ceremonial parades mark ing the death of the comman der in chief, President Roose velt, during World War II. Petty Officer Gary Reed, U.S. Navy, with Mcsdamcs Jennie B. Crcagcr and Marie C. Renting of the American Red Cross Greyladics, shared the visitors' stand with Gen. Prentice and representatives of the Army Re serve. After the formation, the greyladics served coffee and doughnuts. Dry or Green Red Fir LOG ENDS FOR THE FIREPLACE - FURNACE HEATER OAK and LAUREL WELL SEASONED STANDARD HEATING OILS PPES-TO-tOGS GOLD BOND STAMPS VALLEY FUEL CO. 11 W. McAndrews Rd. Tel. 773-1576 Over 19,000 Calls to Prospective Customers in Just a Few Hours A CLASSIFIED AD IN THE MAIL TRIBUNE For Quick Results Use This Convenient Order Form Write Your Ad Mail Now to Classified Ad Dept., MAIL TRIBUNE, Medford, Oregon Please run my ad for DAYS in THE MAIL TRIBUNE under Classification I enclose $ in 'full payment NAME PHONE ADDRESS City h' m i, c .wa- ?. I "s ff S i r7 ' UMSJM! fi. i-AJmJ AMBASSADORS TALK United Nations Ambassadors N. T. Fcdorcnko of Russia, left, and Roger Scydoux of France use their hands to help their apparently earnest conversation during a break in a Security Council New York. (UPI) Collision Results From A collision occurred at 7:45 a.m. Monday when two vehicles spun out of control on the ice covered Table Rock Rd. over pass over Interstate 5. State police said a car oper ated by John Earl Yoaklcy, 17, of 42 West Vilas Rd., first went out of control on the ice. A car I driven by Raymond Rudolph HEATING OILS Below - 1 Word to a Space - Cost Per Word Appears at Right. Nimi and Addresi Count tht Sam, is Other Werdi Minimum Sist 2 Lines TUESDAY, DECEMBER 3. 196J W Li meeting at UN headquarters in Icy Pavement Brena, 51, Plaza Apartments, "spun out" when Brena at tempted to slop. The CREDIT BUREAU IS NOW AUDITING ACCOUNTS for the next REDBOOK! You make your own rating by the way you pay your bills. Pay promptly and make good rating. A Slow Paid Bill looks better than a Slow Bill that's still owing. Pay them today! CREDIT BUREAU of Medford B 5 Northern Area Highways Slick By United Press International Light snows and filling tem peratures left roads and high ways treacherous across parts of the North today. Heavy showers dumped more than an inch of rain on northern Flor ida. Snow was packed hard on all roads but main thoroughfares in the Chicago area, where the mercury dipped to 10 at O'Hara International Airport. Marquette County Airport in upper Michigan recorded a tem perature of 3 below. lhe light snow blanketed the upper Mississippi Valley and southern New England south ward into West Virginia. The weauier bureau said up to 4 inches of fresh snow would fall during the day in parts of New York and New England. Light er amounts were expected as far South as Tennessee and North Carolina. Light rain was forecast for the middle and south Atlantic states. Panama City, Fla., rec orded 1.20 inches of rain in six hours during the night. How sharp are we? Sharp in brainpower, that It. It's the sharpness we need to hold America's lead In science, in business, in liv ing standards. How sharp we are depend on how much we back higher education. Colleges develop our brainpower. And leaders. But the cost of leadership i skyrocketing. Many colleges are in a squeeze. The need help . . . for new classrooms, laboratories, teachers. We will be sharp if we back' our colleges, College l America's best friend. HELP THE COLLEGE OF YOUR CHOICE NOWI To find out how the college crltii affect you, writs to HIGHER EDUCATION, Box 38, Times Square Station, New York 10036, Publnhtd al I public rvlet In coopmtion wilh Tha Advartiling Council tnd lh Ntwlpaptr Advertising Executive! Allocation. Jsck?on, Josephine Siskiyou Counties Consecutive Insertions Minimum Sis 1 Ltnef I dsy .eg per wori i days .12 per worel J " .11 " " t " .11 I .1) ( .20 Minimum cash price toe. Minimum else s Usee. Charged ads, on approved credit, are hilled on Une rate. Minimum charge S1.20. Minimum alio I Unas. Rate ouiilde tht three Counties, go per word pet day. e
