Wall Street To Go On
' Cash And Carry Basis
Due To Federal Action
NEW YOnK, Jan. 18 (If)
Wall Street prepared to go on
cash mid curry bunt today an
thu government acted to curb
puculiitliin In tlui currant bull
,mrket by ordering 1UU pur cunt
margin ruriiilrviiii'iilH on sucur
Ity transactions (or tho first
tlmo In history.
A federal reserve board ruling
Into yuHlorday nilmxl niuruln ro
gulreinenlH (rum 70 to 100 pur
cent, effective next Monday.
Sumo broltuiH who preferred
to remain iinoiiyme.ua frankly
expressed doubt tho action
would put a brake on specula
tion. In financial circle thu movo
bad been expected (or neveral
weeks, Stock prlceii huvo ad
vanced almost dally to within
approach of tho 1020 level. The
Inflationary turned of thu rise
has become of lilt-reusing con-
corn to imlliorlticri.
In inaklnn thu announcement,
Marrlner S, Kcclex, chairman of
the federal reserve board, do
clurcd: v
No Recount
"Thuru la no furlhur recourse
left to thu board do fur un ro
mlralnliiK snuculutlvo activities
In llntvd HluckM In concerned, ex
cept possibly to order lilt exlst
Jlnu margin accountx be put on u
rush biiHlN and to make lomu of
tho administrative provisions
pplyuiK to banks more rigid.
Kmil Schriim, president of the
New York Stock Exchange,
Mid:
"We are for unythlnu Unit will
curtail unwise speculation In thu
murkcl.
He added tliat the news was
expected and commented: "Thu
market has been practically on u
Third Incron
Those who doubt (peculation
would bo curbed pointed out it
was thu third time within o ycur
thut mnriiin requirements had
been Increased. On Feb. S, 1049,
they were mined to 50 per cent
aid on July 5 again lifted to 78
pur cunt.
But flnanclul statistics show
Slayer Dies
On Gallows
WALLA WALLA, Jan. 18 (IP)
The Ufa of Joseph B. Weasel
nded on tho (follows it tho
Washington stnlo penitentiary
here shortly after midnight last
nlKht, an ha paid the final pon
Ity lor the murder of his five
year-old daughter in Tucoma
last full.
Whispering his sorrow for
, hiving killed his little girl, and
hoping for his wlfo and family's
I welfare in a. last tu turnout, Wos-
i awi emorcti me cioain cnamucr
t 12:03. The trip was sprung a
minute later, anci he was pro
nounccd dead at 12:10.
Prison officials said that dur
lng tho last 24 hours, despite ap
parent nervousness, ,the con
demned man never once denied
his guilt and seemed prepared
to pay for his crimo with his
life.
According to a court decision
Weasel killed his daughter dur
ing un altercation with his wife
during which testimony revealed
that lie apparently Intended to
kiii or nun ins wire, lie was the
lather of four children.
Mis wife and sister visited him
at the prison Inst week, tho one
and only tlmo relatives have
. seen him since ho was brought
to tho prison Inst November.
His was the prison's first ex
ecution in 1840.
HILLSIDE HOUSE f
January Sunset describes
an architect's carefully
worked design for his
own home. It's tops I
I in Mit'iii ii ai-i ;i oil'
CITY
Delivery
Service
W pick Up and Daltvar
PARCELS
BAGGAGE
PRES-TO-LOQS
MESSENGER SERVICE
SPECIAL DELIVERIES
Phone 8417
BiOO A. M. to Midnight
Wlllii M. Robinson
. Oieor W. Anderson
At lout Sesuuee.
that the market vultio of stocks
traded on the stock exchange to
taled S73.7Uo.H00.7ni last Due.
31 highest slnco June, 1030
compared with $00,0011,270,111)4
on Sunt. 1, 1020, and $13,033,
470,377 on tho depression-low
dato of July l, ivaz.
Responsible Wall Struct Insti
tutions have been concerned
with speculation In stocks for
several months. Harold L, llacho,
senior partner or Hache & Co.,
recently cited "tho Indiscrimin
ate buying of speculative Issues"
In tho rising market.
Toastmasters
Hold Dinner
Toastmasters club held the
weekly dinner and meeting
tho Wlllard -hotel Wednesday
evening. Genu Oldham was act
ing touKtmusler. Guorgu Conner
was topic master, topics consist
ing of one-minute speeches on
"What you would require in
postwar Items If you were to
purchase one." The gcncrul
critic for tho evening was Vlncc
Clupp. There wuro four 10
mlnuto speeches by Sanford Scl
by, Mel Henry, Paul Lee and
K. O. Weaver. Two flvc-mlnute
speeches by Gurry Robertson
and W. L. Bullnrd.
Visiting tonstmnstcr, Mr. Hur
rison from Modford, was at the
meeting and extended an Invita
tion to the Klamath Kails club
to meet with the Med ford club
at Medford on March 18 for
elimination contest to determine
tho best spenker of the area to
compvto at belittle during the
week of July 23 during the In
ternational Toastmaster conven
tion. The entire meeting was re
corded by George Conner and
was played back so everyone
had a chance to hear what he
sounded like to other people, an
opportunity vexy few people
hove, listening to their own
voice.
Jet-Driven Plane
Sets Speed Mark
LOS ANGELES, Jun. 18 (IP)
A Jot -driven Lockheed P-80
traveled from Son Francisco to
Los Angeles in 42 minutes, 33
seconds yesterday, selling an officially-timed
speed mark ap
proximating 304 miles per hour.
Tho pilot was Army Lieutenant
Claude L. Wolford. 30, who
learned to fly in 1023 in a 00-mlle-per-hour
Jenny.
tr
By JOAN O'NEILL
Last night at a Job's Daugh
ters' meeting, flvo KUIIS boys
wero elected to reign as king
una knights
of the annual
King of
Hearts formal
w h I e h is
scheduled fur
February 15.
Kuri linn
non was chos
mi Kim
i'uuvm, Chick ! iTCi
i. . .rmun' Joan O'N.IU
Milton
Thompson and Dee Nelson arc
his four knights. These boys
will be honored at the dunce
whero they will bo crowned
and knighted.
Who's Who?
Tho ballots for the Who's
Who were distributed to the
seniors yestorduy. These ballots
were used to determine what
seniors best fit certain quail
tics such as best disposition
cutest smile and so forth. The
seniors arc allowed to keep
them several days In order to
fill them out. There may bo re
voting in enso of ties. The final
decisions will appcur in the El
Hodco,
And Incidentally
Starting Monday an addi
tional class in machine shop
will be offered tho third period
from it . m. to 12 noon.
Members of tho I'ellcon bas
ketball squad were the guests
of tho Klwanls club yestorduy.
They were excused from school
part of tne lourwi period.
The Salem gamo Is the big
game for this weekend. A brief
pep assembly was held this aft
ernoon at 3:33 for it.
Tho Science club Is sponsor
ing a dance at school Immedi
ately after the gumu tonight,
Pedro Saddened And
Puzzled Over Theft
LOS ANGELES, Jan. 18 (IP)
Pedro Serrano Is much saddened
by the theft today of $1080 from
the hollow window sill which
he used as a bank. And much
puzzled.-
For they left '$1040 In tho sill.
Serrano admitted it was a nice
nest egg, but told police he plan
ned to look for a now nest.
Action Being Taken
On Salem Air Base
WASHINGTON, Jan. 18 (IP)
Sen. Cordon's office reported to
day that "immediate" action is
being taken to allow Salem, Ore.,
to use the Salem army air base.
Tho district army engineer's
office, San Francisco, advised of
ficials that permission would be
temporary until final approval
by the surplus property administration.
Death Claims
Infant Gi
Berta Kay, 14 -month -old
daughter of Mr. and Mrs. Al
bert K. Scranton of this city,
route 3, died early Thursday
morning in Medford en route
to their homo here from Doern
bechcr hospital In Portland
where the child had received
care. Little Berta Kay had
been ill since birth.
In addition to her parents,
Berta Kay is survived by four
sisters. Julia. Marjorle. Viola
and Bonnie, all at home; two
half-brothers. Victor E., San
Francisco, and Edwin of Med
ford, and an aunt, Mrs. Charles
Skeeters of Medford. Berta Kay
was born In Klamath Falls No
vember 10, 1044. Graveside
services will be held In the
IOOF cemetery at Medford Sat
urday. The Perl funeral home
Is In charge.
Tha tlma to find out whathar
your policy is properly written
is BEFORE the FIRE, not
AFTER I Consult Hans Norland,
123 N. 61h St.
Friday. Jan. 18. IMS
HERALD AIID MEWS THREE
-White. Steujr
SKI TOGS
Anderson-Thompson
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SUGARMAN'S
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Child's Seersucker Pajamas 1.30
Girls'
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New dainty cotton prints with
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styles and patterns. Sizes 3 to 6V4.
72x90
Part Wool
Blanket
Ladies'
Rayon Panties
59c
Lustrous knit rayon
with all elastic waist
band. Brief and band
styles in regular
sizes.
Boys'
Long Sleeve
POLO SHIRTS
Durable knit shirts in horizontal
stripe designs. Crew neck and
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r.
5
98
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2 Piece
BATH MAT SETS
3.98
1
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Two-piece sets with mat and seat cover
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Stevens'
Part Linen
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Men's Canvas Gloves 21c
Men's
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(di
35c
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Sanforized shrunk heavy grey
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Men's
White Shorts
1
07
69c
Sanforized shrunk 80
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Heavy
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13.95
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FLUFF DOT SASH CURTAINS
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1 29
11.85
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Swivel Action
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2.39
A strong light weight
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Pistol Grip
HAND SPOTLIGHT
Strong shockproof plastic case
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"-(d)
y95
For Coupe
Aluminum
CAKE SAFE
2.98
Heavy polished alum
inum cake cover and
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Capistrono
DINNERWARE
5.98
Pastel color dinnerware with spiral
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COPPER BOILERS
6.98
Solid copper in Revere quality. Will last for
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Metal Lug Wrench
Quart Thermos Bottle ...
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1.69 "
Ready to Paint
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Chest
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7.95
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PURCHASES OF $10 OR MORE MAY BE MADE ON
SEARS EASY PAYMENT PLAN
yet ftetcep Aac&
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, TELEPHONE 5188