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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Dec. 18, 1963)
' .1 : "-.7.- V WEDNESDAY. DECEMBER 18, 8 A MEDI OHD .MAIL TRIBUNE, MEDFORD. OREGON dtf "4 U V t.UAKD EiSIKANtE Miners, armed wilh rifles, guard the entrance to Calavi where four American and 17 other hostages are being held in Catavi, Bolivia. Bolivian Vice President Juan Lechin has offered to resign fc m ffeliiiryaiim and release the hostages held by his mine worker supporters it the government will re lease three jailed Communist agitators, il was reported. (UPI) fefcH " ""4 wPu m V MAKE THIS m Imp 'the merriest... ftkA vfef' HAPPIEST CHRISTMAS i EVER... ::J)i: JL AnV tote ?f' o 77? Ktog? Cwi ". - j'v'V r A Srif" fnjoy eery rtUxing, pulsaiing momrnt it The rSr'', -j .. I- Village Green... Orfgon'sdijiinetive, charming moiorhoif I. ' ,, . ' fl''"'; V ' v'-'-P ' 1 - ".''. U The (wo of you will find The Village Green oflerj luxurious K T .'If CU c1- ;?"; , ' w accommodation!, the finrsi in food and service and the friendly A"irv? 'J'"'ttV j, -' welcome of Aomf., .Christmas dinner. . . a midweek Mayor, per- " ' f- hapi, a second honeymoon . . . what finer way lo say Merry Christ- re5'"'f is '' 2'." 'V "(I 1 mai than lo jay it al The Village Gieen ... 4i fiirWrnff in iie pj ,f,J '(J:''1';;,v r. 'i '" rn Write, wire or call me for rcserveitont. Ht "v"" J1 ' bS Waro' Ringlanti, Green Matter ,r ' j tV'-; Pi, VILLAGE GREEN resortand business hotel S?r&WA j t ' k -vy.ti."ii-V' P. 0. oi 277. Coll.,. Or., Of(M . - 'jjtr A i ; wh 2-2491 i.-y Ircn Gate Dam Motion on File SALEM (UPI) -A motion to intervene in the case of the De partment o( Fish and Game o(j California versus the Federal Power Commission was filed in the ninth U.S. Court of Appeals, j Ally. Con Robert Y. Thornton1 said today. j The case involves construction o( a $1 million fish hatchery on the Klamath River near the site of the Pacific Power and Light Company's new Iron Gate dam just south of the Oregon-California border. Thornton said the power com mission's decision requiring Cal ifornia lo assume 20 per cent of the operation and maintenance cost of the fish facilities "creates a precedent which will have a serious impact upon projects in Oregon." Thornton said he thinks the case may establish a valuable precedent for requiring the Ida ho Power Company to build one or more hatcheries on the Mid die Snake River to make rest tution for 10,000 salmon killed at the Oxbow Dam in 1058. Your Money's Worth By SYLVIA PORTER Cprtf kr. Hall Syndic, t.. Inc. Negro Describes Committee Hopes PORTLAND (UPI) A 22 year-old Negro worker for the Student Non-Violent Coordinalin Cnmmillne said here Tuesday lhal "we hope to destroy Mis sissippi ami annihilate Mont gomery, Ala., next year." "These, perhaps, are violent words but we will do it through non-violence," Bruce Gordon, a funnel' student at Morris Brown College at Atlanta, Ga., said at a news conference. The conference was to de scribe the aims of SNCC, an agency organized to stimulate and foster the growth of local Negro protest movements. Gordon said that President Kennedy's assassination had se verely hindered Hie cause of civil rights. "We have been lold in the South that 'you're next,' he said. Court Records Ml IM MRh Ml Nlril'M, rornT I lintnaj. niif.rrll Ahhntt, rim nl)pvrH (raffic MRnnl, $1(1. niis prmlcrl (; v Will tam Duttnn. rlisobrvrd tr.-itlic MO lima II' no Allen, violation pf ba sic mlr Ml' Williimi NU DahMrnm, rtls nhrvivt traMic sicnal. Mil. (i;irv l,nn Lilla. disiihrvert traf flr Mtinnl. HO. ITiin.l h v Ht(rhiir1 Qiitnn, linpro prr rmlil turn. Mil. Phyllis TUntUiitrt Paller-on. rlln obpvcd t r h 1 1 if Siena 1. 3 10 Coritrry Knmk Vovfra. vlnlfttinn nf hnsHT rulp. y'. Meet My. A. B.C. n n n 'l T 7 STOCK .MARKET SHL iDOWN In the 2.) minutes following the fist news flash to Wall Street at 1:42 p.m., Friday, Nov. 22, that President Kennedy had been shot, the following things occurred at the New York Slock Ex- -change, the world's largest, most orderly and most disciplined : stock exchange. : The Exchange's president was reached at a business lunch-1 eon nearby in the Wall Street area, other governors were reachd at other luncheons or in their offices or on the NYSE floor, and all were summoned at once to a meeting of the board of governors on the sixth floor of the NYSE building at 11 Wall Street. A quorum of seven out of the 33 governors was rounded up by 2 p.m., and in less than a minute they reached the historic decision to halt all trading on the exchange. At 2:07 p.m., the board's vice chairman mounted the rostrum above the trading floor, and rang the gong announcing the first emergency closing of the exchange since Aug. 4, 1933, when the floor was emptied because of a leakage of gas. Meanwhile, in those 25 minutes a total of 2.2 million shares of slock changed hands on the NYSE alone, about half the normal total in a five and one-half hour trading session these days. So heavy was the volume that the last price transaction wasn't print ed on the ticker tape until 34 minutes after actual trading had been stopped. The familiar Dow-Jones average of industrial stocks crashed 24 points, and by the end of the day $15 billion in paper values on the NYSE had been wiped out. Many individual stocks were driven down 5 to 10 per cent and some were down 15 to 20 per cent all this in less than a half-hour. So violent were the price changes that even before the gong was rung shutting the exchange, officials who could on their own halt trading in individual stocks had ordered cessation of buying or selling in about 40 active stocks including General Motors, IBM, Chrysler. There was no missing the dumping of slocks hy nervous traders who were sitting in brokerage offices during those mo ments of crisis. There was no missing the dumping nf stocks by professional traders, big and small. There was no riouht that many speculators and investors from coast lo coast would have sold in that period if they could have reached their brokers hut the telephone wires were clogged and they couldn't get through to place their orders. Not ever before had Wall Street's policymakers been hit by news of such shattering impact during market trading hours. Considering this and considering the fact that the NYSE's constitution today requires a majority vole by a quorum of the governing board to halt trading, the governors acted about as well and as rapidly as could be expected. Hut comparatively good as it was, it wasn't good enough. In those 25 minutes a financial debacle was in the making. In that half-hour, investors were at the mercy of traders and speculators who were dumping stocks indiscriminately either because Ihry had panicked or because of other even less de fensible reasons. It will not happen again. The New York Stock Exchange is now seriously reviewing its procedures lo permit instantaneous closing nf the market under clearly extraordinary circumstances. The odds are the NYSE constitution will he amended to provide for a small executive com mittee which will at all times have power to act at once when conditions call for drastic action. It may be years or even decades before an emergency of this magnitude reoccurs, hut when it does it won't matter whether the NYSE's president is at lunch or one key governor is at the barber shqp or another is meeting the trustees of his church in the suburbs. Panic psychology and wild speculation (up or down) should not be so dominant in a market which lays claim to the investment character that the NYSE does. Both the stock crackup Nov. 22 and the sensational upsurge Nov. 26 downgrade the caliber of Wall Street. Machinery will he set up to prevent a repetition of this. Wall Street's responsible leaders recognize that even that 25-minuto interval was far, far too long. MAKE K-.! -.Ill V $ cJ444Wjjffl i YOUR WIFE HAPPY . . Get ED for Your Home! Sure its from G.E. SAVES TIME SAVES WORK SAVES HEALTH SAVES SAVES SAVES HANDS BREAKAGE HOT WATER 95 239 Model SP-503 OTHERS AS LOW AS $13995 BUDGET PRICED 30 Hi 23" Master Oven HNSpeed Calrod Units Removable Oven Door Push-button Controls Clean-easy Oven MA : - He Works for our Advertisers He is one of the experienced cirnilatlon nuditors on tlio M-aff of the Audit. Bureau of Circulations.' Just as n bank examiner makes a periodic chock of the records of your hank so does Mr. A. B.C. visit our office at ropular intervals to make an exacting inspection and audit of our circulation records. Thft circulation facts thus obtained are condensed in easy-to-read audit reports which tell our advertisers: How much circu lation we have; where it rocs; how it was obtained; ami many other FACTS that tell advertisers what they get for their money when they advertise in this newspaper. Advertisers ore invitrd to for a copy of our lateil A B C. report. Ihe Audil Bureau of Cirrn'o dons, of which this newjpoocr is a member, is a coopern'tve, nonprofit oisoemtion of nearly i 000 advertisers, advertising agencies and publishers. Or qonired in 1PM, ABC brOi-oM Otder out of advertising choos by eitblisltinq A def inition for poid circulation, ruin ond itnndardi for auditing and reporting the circulations of newspopors and periodicals. Families Planning To Purchase Boat Should Look Now By JACK WOI.ISTOV ! Icrs lhal n((cr some Ml varia l nilcd Press Inlr rnntinnal ' tions of pilch and diameter lo Anvnne planning on ioininc cover most stern drive require- Ihe pleasure bnalinc fraternity ments and fill in some paps in S1J088 ULi 1 tffiP EASY TERMS C"T twj " Inch IBSa Sereen il C U MM II Ml I - AMERICA'S OWN LIGHTWEIGHT BIG SCREEN PORTABLE TV So sy to eirry you'll take It along vcrywhere ' "Daylight Blue" picture gives sharp, bright pictures Convenient fwnt controls for picture and tound Built-in adjustable antenna telescope menopole $(095 when the sraMin rolls around nel year would he wise to look the market over now during the off season. I This is a period when sales ' are comparatively dull, and dealers are ready to offer size- j ahle discounts, aiong with other i incentives such as free winter ' storage and free launching in t the spring. While prices won't be knocked j down much on Ihe new lfltM models, many dealers have on j hand unused 1:) boats which j they would like to clear out nf j their inventory. Discounts on some of these may run as high as '.'5 per cent. j Then there are used boats. I Prices on these also are at their lowest in the fall and winter : months when demand is least. Additionally, many used boats I include a lot of equipment that would be costly when il came to fitting out a new boat in Ihe i spring. I Inspect I'secl Nital I Hefore buying any used boat, however, it should be given a thorough inspection, preferably . by a marine surveyor who knows where to look for rot and I decay and other signs of deter I loiation in a wood boat and for signs of structural weakness in t a fiberglass craft. A marine sumnm's charge is j usually only a small percentage ! of llie amount about lo be in i vested in a used boat and is ' well w orth it 1 One good bet in the used I boat market is an aluminum craft. These metal craft arc not Ihe inboard and outboard lines will be exhibited at Ihe ltlfil boat shows by C'olumbiant Bronze Corp. Leo P. Traeger. the comp any's sales manager, said Ihe new styles were being produced in the belief that with the cur rent expansion of the stern drive market "there will be a significant demand this coming season for the same variety in outdrive propellers that we of fer in our inboard line." "We expeel that closer atten tion will be paid by outdrive owners to propeller selection. sinre there has been accumulat ed a sufficient backlog of ex perience to determine Ihe fac tors that will produce increased efficiency the mating nf the propeller to boat usage or en gine performance being im portant ones." Traeger said. "Too. there are now a sub stantial number nf older out drives which could benefit by a change in propeller pitch or diameter " Previously, the company has provided mostly standard re placement propellers for stern drives. The new stvles will give stein drive owners the same wide ranee of propeller-encinr- hull usae matching pnsMr lies as that given inboard and outboard users. Don't Buy Any TV Until You See G.E.! MEDF0RDt4'iJrRIBUNE Sfofion Wagons Get Mixed Up in Seattle SEATTLE d'Pn - Harold Rowc of Seattle parked his sta tion wagon near a barber shop subject to many ot the Hazards recently and went m for a hair- that affect wood and tinergiass. and many four and (ivo-ycar-old aluminum boats are uist as ser viceable today as the day they were built. In buying any used boat, the dest ihmg is to look (or a "brand name" boat put out by a l im that still is doing busi ness. Theie aie hundreds of craft on the used boat market now that were manufactured by companies which since have gone nut of business many of ihrm purmply berause their products were sub-standard. Three new styles of propel- cut. When he returned to Ihe park ing space, the vehicle was gone. Howe notified Ihe police. Later in Ihe day. police re ceived a call from W ide Ash ley, operator of a used car lot. .h!ev hail parked a station wagon of Ihe same nnsicl and color near Ihe barber shop, and when his wile came by. Ashley told her she could drive the sta tion wagon home. Surprisingly, the ignihnn kev In the station wagon frnm Ihe Used car lot worked perfectly on Howe's vehicle. Lifetime 1 I Pftfl V7 ! f f ! il Guarantee jl ffj3jgj M A 23"-M-762 I-""" ,,- If ! $22995 I- tefrsl H F P i ill- E ;l 4V ii,,J J I TERMS w HOME APPLIANCE CO 303 SO. FRONT ST. Ph. 772-5595 0
