IfC. II -PACE 6
HERALD AND NEWS. KLAMATH FALLS, OREGON
THURSDAY, APRIL 22, 1948
Bernard Daly Education
: Fund Trustees' Power
Broadened By Court Rule
."lAKEVIEW, April 23 Investment
powera ol the Bernard Duly Educa
tional luud trustees were broadened
in a decree tigned liere tins week
by Circuit Judge Charles Combs,
putting the "prudent man" rule Into
effect with regard to investing the
principal of the trust lund estab
lished by the will of the late Dr.
Bernard Daly In 1921.
v Under the new ruling, the trustees
are limited only by the exercise of
the care and discretion that men of
prudence and Intellect would use In
Investing their own funds, not lor
peculation, but for protection and
permanent investment of the funds.
. Under the ruling established by
the will, the trustees were limited to
Investing In government and gen
eral obligation municipal bonds.
Reason for broadening the Invest
ment powers of the trustees was
Cheap Cancer
Test Seen
WASHINGTON, April 22 vP
Chairman David E. Lilienthal said
Kednesday the atomic energy com
mission has found that the metal
cobalt offers possibilities of provid
ing an Inexpensive treatment ol
cancer.
He made It clear that the discov
ery has not been clinically tested,
but he said cobalt can be made to
have the same radio-active effect as
radium.
- Lilienthal told reporters of the
discovery after a White House call
in which he made a preliminary
report to President Truman on
peacetime uses of atomic energy.
He said an important point in
connection with radio-active cobalt
is that it Is a very common metal
found in industry which could be
used as a substitute for expensive
and scarce radium.
There are only about 26 ounces
of radium in this country, he said.
Radium has been the most effective
treatment for cancer.
Lilienthal said cobalt could be
fashioned into the form of a needle
tni put in one of the atomic energy
commission furnaces at Oak Ridge
and be made "as effective as ra
cjum." Two Youths Held
After Robbery
I PORTLAND. April 22 UP Two
youths were arrested here Wednes
day after police chased a car from
a, second hold-up scene.
The proprietor of a suburban
fjfcvern was robbed of $25 by a young
aian shortly after midnight. Deputy
aheriffs, summoned to investigate,
feached another nearby restaurant
seconds after that one. in turn, had
been held up. They gave chase to
a fleeing car.
., Police said the two youths were
caught as they jumped from their
ear and ran into underbrush.
the fact that It Is increasingly diffi
cult to secure well-paying govern
ment and munictiml bonds. Annual
earnings of the Duly fund principal,
which is over 606.000, have dropiwd
from a high of about ISO 000 several
years ago to less than (20.000 mure
recently.
The court decree- will permit the
board, within the limits of prudence
and Intelligence, to Invest in the
Industrial field, mortgages, or other
secure types of Investments. The
board has In the past, and will con
tinue to make investments only on
the advice of qualified Investment
counsel
Burt K. Snyder, chairman of the
trustees, and T. R. Conn, secretary,
said that since the decree was Is
sued, the directors have met and
agreed on retaining 7i per cent of
the principal in government and
municipal general obligation bonds.
The other 25 per cent will be put
into diversified fields, with advice
of investment counsel. They have
tentatively aereed that this balance
will be maintained by buying, sell
ing, re-investing in order to spread
any appreciation on the 75-25 basis.
The percentage basis Itself is tenta
tive, and the directors may decide
later to change this 1 lance.
The directors hope, by being able
to buy and sell, in the Industrial
and other fields, to remove any
deadwood from their investments
and keep the capital working in
well-paying equities, stocks, etc.
Under the program set up by Dr.
Daly's will, the first scholarships
were granted In 1922. Since that
time, up to last spring, more than
1000 school years of educational
benefits had been granted through
the fund's earnings.
Trustees of the Daly lund have
never lost any money through bad
investments. Some money was lost
to the fund through investments
that were handed to the trustees
under the will, but since that time
all of these losses have been re
captured. Any Lake county student who at
tends a Lake county high school tor
four years and whose local grades
are up to standard, may apply for
a scholarship. Examinations are
given which is graded against the
school records, and from the final
list, applicants are approved from
the top down. Last spring. 11 stu
dents were granted scholarships, and
the examinations for this spring
have been given.
The change in investment powers
was the outgrowth of a complaint
filed by the present trustees against
all past trustees. No objections arose
in court, and the court sought the
advice of investment counsel in
reaching Its decision. Present direc
tors are Snyder. Conn. W. P. Ver
non, Roy Perry and Paul J. Brattain
Sr.
Singing Here This Week
hy
II- 'I CJ
'Texas' Given
To Texas
IIOII8TON. Tex , April 22 i.l'i -The
Haltli'Mim Trails, veteran ol
two World Wars, was presented to
the state of Texas Wednesday by
the U. 8, navy.
ThoiiMUUts til Trxaii Jumiurd Hie
Han Jaiiuto biitllmruiimt to see Hie
Texas ttrcntumlsMniird limn the
U. a. navy and accepted us the fluu
ship ol Hie Texas navy. It will re
main luiHiieil as n liirimuiul lo
Texas service men.
Only a few puces Irom tne per
manent mooring Is the towering
San Jntintu monument marking the
battlelleld where a small group ot
Texiina routed Mexican Hernial
Santa Annus army ll'j yearn ago
to win their Independence.
Governor lleautoid Jester, upon
aacptlntt the Texas from Awlalanl
Secretary of Navy Mark Kilwtn An
drews, Immediately ordered tin
Texas flag and the Texas Jack
hoisted.
A navy baud played the "Kyea of
Texas," the signalmen broke out the
flags and all hands stood at attention.
This is the Osiveto Lake Four from Oswrjtu, near I'urtUnd. appearing In the St'KHSQSA show at the
Tehran theatre on Friday niclil. April 2.1. Left tu right. Trd i'urtiltl. Irnur; J. A. Van Leeuwen. bari
tone; l.ou Lavarherk. lead, and Mark Hrarh. bass. Tirkels may be obtained at the offices of John Houston,
114 X. HIi ; M. L. Shepherd, 545 E. .Main, or from John Crosby at the chamber of commerce.
Kansas Wheat Needs
Cool Weather
TOPEKA. Kansas. April 22 .
A major portion of the Kansas 1948
wheat crop Is badly in need of cool
weather and moisture, a report of
the federal and state departments
of agriculture said yesterday.
The report asserted that through
much of the central and western
parts of the state the lack of pre
cipitation recently and the relatively
high temperatures have resulted in
very dry topsoil conditions.
These conditions, tne report said,
have emphasized the critical situa
tion with regard to the lateness ol
a large acreage of wheat.
i
oil Installations, which include the I guards the British corridor between;
Eastern Mediterranean's principal I the port and headquarters atop I
refinery. . Mount Carmel. There is a military
A narrow British-controlled strip hospital In this corridor.
New York Subway
Fare Doubled
NEW YORK. April 22 U The
world's biggest ride lor a nickel is
doomed.
Announcing a 10-cent fare for the
city's subway system and a seven
cent tariff for bus and trolley lines.
Mayor William O'Dwyer Tuesday
night ended a tradition as old as the
44-year-old history of the metro
politan underground railroad.
He said the higher fare would be
come effective July 1. The Increase
Is expected to furnish $81,010,000 for
the city's 1948-49 budget.
Pioneer Home To
Be Torn Down
SALEM, April 22 UP) The 65-year-old
palatial borne of A. N.
Bush, pioneer Salem banker, was
old by the state board of control
Wednesday for (850 to the Madson
Wrecking company of Salem.
The company will begin tearing
fie house down next Monday to
make way for construction of a
82.000,000 stale office building.
The Bush home was one of Sal
era's show places when it was built
Bush has moved his old family home
here.
Ship Conversion
Job To Open
PORTLAND, April 22 HP A
81.000.0(10 ship conversion Job ex
pected to take a half-year and em
ploy 500 men at the operation peak
will be done here.
Sven Salen. Swedish shipowner,
disclosed that he and associates
have contracted to have the aircraft
carrier Long Island converted into
a cargo ship at Albina Engine k
Machine Works here.
Battle For Control
Of Haifa Opens
HAIFA. Palestine. April 22 .,P-
Jewlsh-Arab battle for the port city
of Haifa opened Wednesday.
Gunfire cracked along the slopes
of Mount Carmel, near all-Jewish
Hadar Carmel and in mixed Jewish
Arab areas.
British security forces left mast
of the city early today. The British
still held control of the port and its
j $ at
Si Saturday. M &
KLAMATH
ANIMAL HOSPITAL
Opaaaita Tawpr Tbralra
J. E. HARDESTY. D. V. M.
LASGE AND SMALL ANIMALS
nmmm U We nK
L "TZiit Cinch way!
NOTHING W ffli
TO ADD j&M
out v' y If
WATER JVil
Pg" SAVES
MAKIS 2 Hill
t.mcH urms
r OlVlt'l FNDei
4 e$cHM7&m4 "'M
i .1. ,,n i mt.iii.M i'n inn I 1
97
neredif)Ie
Savings on
SWEATERS
Here's GREAT Sweater news ... A Big 2-DAY
Clearance of all Spring Sweaters . . . nothing
held back . . . stocks must be reduced . . All sizes
. . . don't miss these unusual values ...
99
iO
Cottons and Wools
Boys and Girls
Values to 4.98
Here are outstand
ing values in love
ly nationally
known sweaters . .
in all the most
popular styles and
colors.
100 all wools
Lovely Colors
Values to 6.95
to
399
leons TOTS-TO -TEENS shop
602 MAIN
QUICK RELIEF FROM
tympt.tni of Dlit. est Arising from
STOMACH ULCERS
due to EXCESS ACID
FrBookTllofHomTratmntthat
Mutt Help r It Will Cost You Nothing
llvr llirv milllnu Itnlllr.tir the Wll l.ftNu
Tiunihi liat lMii .oUI f,ir nllir of
iiilHtiniiftll.lrMnrl.tliK hum tlrmach
kii.I Du4nsl UlcartUllr lu K.r.t" Add
Pmt Dli.ttlan, tur or Up.t llmch(
Mln.l, Hvartfcwrn. t:iJaani, ale,
Uiii lu Kic Actd. Noltl ml IAiIiiv.' HUM
A.k t.ir "Wllla.a M.ii.i." Ih.1i lullj
Wlilalna Ihta Irimitpitv tra l
KVKKHODV'M I'AV-l.USS llltl (i
si pi-:r cit rati: nit it; sioiit
WAUUONKH UKI'Ci CO.
WAI.GHf KN Dltt i STOIIE
SCIINKIIIKKS
Malln:
MAI.IN DRl'O CO.MI'AW
1'iesenl lo assuino command of
the bulllt'Mitp on bohair or the hlale
was I'Meet Admllal tHienler W.
Mmlta, DUN, retired, nallve Texan.
Student Confab
Set To Go
8AI.KM. April 11 l'- Miie lllull
ljr niudetit ileleuaies will annul tile
Ihlid aiiiuiul slate lonvenlliin In
IViulleluii Krldiiy and Hutinility of
Hie Oii'Hiin A.iiii'lalliin of Finnic
lloiuiMuiikci'M of Anierk-a, die slate
di'iutrlnirnt ot voialliinal rdiliiillnii
said Inilav,
The ilelemilra will represent :"",'
meinbein uf the 711 rhiipleis In (He
Kim lllull ai lliHils,
It pays lu line llio Wanl-Ailil
W. , and In rotor btadti
I lr a (ooir, qvklur iiairi 1
HOLLOW GROUND
has the "EDGE"
Mrwi
"I lufltrtd for yiori D
mni mm m thankful I
lhl I am ralltvad of W
oin and obit lo do my t
work thor I will glodlr E
mwtr anyona writing 1
ma for fntormotlon." I
NOlf To Mvt Ihn gralt't.l uwr tt
troiitil of antftttitta; m mwi llltf
oi now mlmi thit (nofmotior
fi twutmino NUl OVO f1i(r Wo
mak Hif i(i(iiitlalionk only In tlto
Itltroiuit will tend you.
ka. Iua. .a.. I
Many Never Suspect
Cause of Backaches
TI.U Old Treatment Often Bringt Happy Relief
Mny ufltirf ftllv nCKn ttirtihe
quk-kty, oiw-t Ut luov lhl ll
(uh al lltfir lioul n I tlti kttnyt.
Th kitltwy mi Ninf' Ui w-y al
iMktiic Itw cn-raa mtu !.! wt out ol It
iuiu Jy
Whrn dtaottltr of kMiiry (uiwlinn pcr
tmtt imWmiihiui niBltf lu irntain In your
hlotHl, II may ru n-li" 1m, !.
Ittttiw NU, U Uu, k w M(t m1 co-
tfgy, iMln up nlgtiti, wIUntt pt-iilWi
umlir y, ho-ili ft ihtiirt.
rrtiMnl 01 riily iagr with miiln
tmtiiltta MimtMttl"n 11m( '
hlti wtoni with yuur kUbiyof t4alUr.
IWt Ak ytmrtliUHWI tat Iknji
11 IU, a lintulwil dtuirlU', uwtl iwrM(utly
ty ntltlkini tot ovtt tl yn. In'i gt
hity lwf '"t ttl Mt' l n,lr u(
k ( y lul-li Hull. Otl l'U.-oU. WtMtt 1 1 out
nan
V
ON SAlf
THURSDAY
miOAY ,-4
fATWDAT
MAIN at 7th
LYDIA PINKHAM Compound 89
TRILL SOAP POWDER 13
WASHING SOAP l.lnill t 11 tjf
to limit
quahiiiiH
WAX PAPER ,
.Inilt t
125-ft. 1 J(
Hp
1M
LIFEBUOY
SOAP
COLGATE 1
1 lQc (( EVERSHARP
for 17 ly(i)Ev.rih.rpSchicl. U
I.lmlt Ini.c.or Raior JZffM
1 f yXni.elorof IO fc
VL. u Schick ei.d.. I f
(DCol9.U(L.rg.) If j r
SACCHARIN z2kA
TABLETS 222
lI" 3c Ki
b ct mm wm
I7e Botfl, 100
HINKLE
TABLETS
Limit
I only
HERSHEY
BARS
II y the hoi.
89c
Limit t.
Bottlt 100
Our Finest
Wo'grcen'i
ASPIRIN
S grtin OQr
ubltts ..l7k
No-SpUsh Shield
59 BATH
SPRAY
Sltndout )QC
buy t . . 3v
Ke(. AM
IRON WITH
INDICATOR
RtdvctJ
'o only . .
Non-kink lubinj Chromed baauty.
Itr. Se
CANDY
BARS
Nike). JIllKln,
(llanl.
"Headline" Specials!
Dtlvx Wtvi Kit
TONI HOME
PERMANENT
curltrt ..... dm
Conlaint Lanolin
LUSTRE.
CREME
SHAMPOO. $
4-oi. i.r ....
Richard HUDNUT
PERMANENT
WAVE KIT
IWith cr.mt O 75
fini., only . .dm
5.10
t'ajh.
l-l.b.
DILL'S BEST
TOBACCO
79c
l.lnill 1
f. a
Thrat Sits
Box of 10
TAMPAX
or Super. . t9 ttf
20 F.daial Excii. Tax on Toilelri.i, Luggage and Blllloldi
1SO-H. Roll
'TWINE I
v'. UiiA it;. r...
2 :UC I
Stock Up en
G-E LIGHT
BULBS
IS to tO
wan . .
11
Large Tubt
SQUIBB
Dental Cream
43c
SEP