. ' 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
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AUG. 21
UPT Jl
30 Keep
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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-
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DEC 22 fa
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DEC 23 tf
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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
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Over 19,000 Calls to Prospective Customers in Just a Few Hours
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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