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About Herald and news. (Klamath Falls, Or.) 1942-current | View Entire Issue (July 1, 1958)
PAGE 6 A HERALD AND NEWS. KLAMATH FALLS. OREGON TUESDAY. JULY 1, 1958 AIRMEN HOSPITALIZED LAS VEGAS, Nev. (API Five airmen at Nellis Air Force Basa are hospitalized with typhoid tha first time in eight years that mora than one person in Clark County has had the disease. SUBSCRIPTION RATES CARRIER I MONTH 1.50 6 MONTHS 00 I YEAR 118.00 .. MAIL FRANK JENKINS Editor BILL JENKINS Managing Editor FLOYD WYNNE City Edilor Entered e second cl&sa matter at the post office at Klamath Falls. Ore., on August 30. 1006, under act of Congress. March S. 1879 hl KVK tS: ASSOCIATED PRESS UNITED PRESS AUDIT BUREAU OP CIRCULATIONS Serving Southern Oregon And Northern California I MONTH -6 MONTHS . I YEAR I I SO $ 7 SO 113.00 They'll Do It Every Time By Jimmy Hatlo fl-.pOTRiml few benches 4 pmvlWQsra i t rfffi!$ , -i-i "fii l'ei'Miiinl Ili'longiugs By FLORENCE JENKINS Now that the summer vacation period is here, American travelers will be leaving a trail of personal belongings from one coast to the other and in foreign countries. The American Express news bu reau made a survey among lead ing hotels to see what people led behind them. Pajamas and nightgowns lead the list, probably because so many travelers pack up with their suit cases on an unmade bed. Men forget more things than women, according to two leading European hotels. Men appear to be particularly negligent about un delivered laundry. Lone travelers (orget more items than couples, probably because it helps to have one person checking on the other. An interesting sidelight is the fact that most of the hotels agree that the majority of the lorgottcn items are neutral colored or white. Since bright colors are east er to spot, they are harder to over look. It would seem to be a good argument for vivid accessories, gaudy pajamas and gay colored undcrthings. What one of us hasn't left a rain coat in a dimly lit closet because the sun was shining when we left the room and we never thought ol it? Or a black beret on the top shelf which blended into the shad ows? Neither, of course, is as vital as the occasional dentures left in the bathroom medicine cabinet or the only comfortable walking shoes you own, pushed back out of sight under the bed. The American Express ends its report with the advice to double- check before you check out and to pack before you rush out at the eleventh hour to be on your way. Also, it's a good idea to leave a forwarding address when you pay your bill. Coiiiim'iiis By UAL BOYLE NEW YORK Wi-Curbstone com ments of a pavement Plato: Are you puzzled over what to do on your vacation? Many men ore. They know that If they go to the mountains they will have to help the children pick wild flowers to paste in their mem ory books. They know that if they go to the seashore, they will have to help the children collect sea-shells. And they know if they stay home their wifo will keep them busy 16 hours a day doing odd jobs around the house, such as repairing the vacuum cleaner, hanging wallpa per or picking green worms ofl the tomato plants chores any strong, able-bodied woman ought to attend to herself. If you're in this plight, here's an idea. Why not use your vaca tion to reform and improve your self? Most men start their self-reform campaigns on New Year's Day. This is a bad lime. A man's re sistance is so low in winter that he barely has the strength to con tinue his vices let alone summon up the c.xlra strenglh required to abandon them. There is another laclor. Vaca tion is the only lime when a man can reform while lying down. Any other period of the year he will be standing up or moving about. Reform under this added stress and strain is almost impossible. Still another advantage to giv ing up bad habits while on vaca tion is that there is no sudden wrench about it. You arc in no hurry and can improve yourself slowly and leisurely. But perhaps it might be hotter to give a constructive example. Let us suppose you have gone to the seashore and want to rut down on your smoking and drink ing Here's what you do. You slrelch out on the sand and put a pack of cigarettes and a pilchcr of martinis before you. You say, "I'm not going to take a smoke or a drink for one lull minute." Each day you add an other minute o( wailing before you Indulge yourself. A' the end of a two-week vacation you will he able to go a full H minutes. This may not seem like a ma jor achievement, but look at it this way: II you continuo this reform program on every vaca tion for 40 years you will wind up being able to go 9 hours and 20 minutes without giving way to thirst or the deisre for a pep-up pull. II s the litllo triumphs that add up in life. Suppose you've yearned all your lile lo play a musical instrument, but never had the time to learn You can do it on your vacation. I heard of one man nho mas tered the zither In this fashion During each vacation he secretly learned all the notes that could hi played on l'i strings. Alter 2."' years he took his zither lo the offict Christinas party, and sur prised everyone by playing "The Moonlight Sonata" in a way that left even the boss in tears. Actually, if a fellow just doesn't rush it, there's no vice he can't give up or art. he can't learn on a vacation and return a better man for it. One final virtue of this system. Nothing wearies one sinner more than seeing another in the throes of repentance. Your friends will he grateful whether you succeed or fail that you spared them the boredom of watching your one man reform wave. ' If you must be a finer fellow, learn how out of town. Slock Markd By ELMER C. WALZER United Press International Financial Editor For those who want to spot stock market excesses before they oc cur, this seems to bo the time for making an outcry. The stock market has been the good little boy of the recession. It committed no excesses. It veered away from credit extension that wrecked the market of lfi29. It was an investment market. Speculation was in the minority. Now a change is taking place. During the past week, the stock market has been dominated by trading in low-priced shares, us ually a sure indicator of specula tion here or in the making. Heavy trading occurred in stocks selling for less than $10 a share, many at less than $5 a share. A large number under $15 met de mand that sent them to new highs. Some of the companies whose stocks were the most active and the strongest in the low - priced groups had no business at all, niereiy casn in the dank and in some instances a tax carry back that might become valuable if they could link up with a company that had a profit. This speculation urge often comes at the tail end of a big market rise. The market has had a rise for a long time and now is around the l'J5B highs, far above the closing levels of 1957. Another movement under wav mat smacks of 11129 is the increas ing number of investment com pany issues being floated Recent ly there were two big ones. An other is scheduled for the coming week. Investment company slocks have become popular. Some of Ihem aro of the type called closed-end issues, Issues with a fixed number of shares outstanding. Then there are, the mutual funds or open end issues which can and do continual ly issue moro slock for sale lo the public. What these funds arc doinc alone with pension funds and other in vestment media is drawing down the supply of stocks available for investment and speculation. The fewer stocks there are available for purchase Hie easier it is to raise prices when a small demand develops. All this investment buving bv funds may have brought the third excess that seems to exist, name ly the excess of price over earn ings ability of slocks traded. In other words, the experts feel that buying in some stocks has been carried to excess where stocks aro loo high and hence vul nerable to selling pressure, if it develops. There is no telling il selling pres sure will develop. Rut the excess es are there nonetheless and the market now appears to be more vulnerable to attack than it has been in some lime. Wall Street experts, however, aren't advising sale of stocks. The trend seems up to most i.f them and even though they feel values are below current prices they aren't at all sure the market can not go still higher. Speculation could easily lift it up and speculation is being given a green light by easy money. Mar gins now are 50 per cent of the value of the stocks bought. While speculation hasn't been a real menace as yet, it is a good bet the federal reserve has its eye on it. Iliinks In Hind By SAM DAWSON NEW YORK (AP)-The flow of gold from the United States to oth er lands mostly to Great Britain, Japan and the Netherlands can put big city banks in a bind. And of late that's adding to the Fed eral Reserve Board's task of keep ing money easy instead of tight. Some l'A billion dollars from the U. S. gold hoard have gone over seas since the start of the year. Much of that outgo has meant at least a temporary drop in de posits for these banks, and hence a loss of reserves available for making loans. That is one reason the Federal Reserve has just made its largest purchase of U.S. Treasury 91-day bills in two years to relieve the strain on the big banks. The board's official position is that it's glad friendly nations can build up their depleted gold re serves. But practically, it has had lo counteract the flow so that the banks have plenty of money 10 lend during the recession. Other wise the slump might start snow This is the way the flow of gold affects the U. S. banking system: The largest share of non-Com-munist-held gold is in the United States. Central banks of olher na tions have the right to buy it at $35 an ounce, although American citizens tlo not. When other nations get their hands on dollars through interna tional trade they " frequently de posit them with either U. S. com mercial banks or with the Federal Reserve banks, or they buy up U. S. Treasury securities When yields on these securities dropped, foreign holders sold them, deposited I ho dollars In the banks and then used these de posits to buy gold from the U. S. Treasury through the Federal Re serve system. The net result is to lower the total of bank deposits. This cuts bank reserves with the Federal Reserve system, and thus makes their money for lending purposes tight. New York banks complain that most of this blow has fallen on them, since the foreign banks tend to keep their dollar deposits here. The Federal Reserve has come to the hanks' aid by buying government securities on the open market from sellers who deposit this cash in the banks, thus re storing their reserves and lending power. The U. S. gold slock now is around 21'i billion dollars, down some S'i billion from the postwar high of September IMS About 21 billion of Ihe gold backs gold cer tificates held by Ihe Federal Re serve banks as their reserves. But they need only some ll'j billion of these gold certificates to satisly Ihe legal requirements of backing their current deposit ard note lia bilities. This leaves Ihem bettor than nine billion dollars of leeway be fore the outllow of gold could raise a legal reserve problem for the nation's currency. Money managers scoff at the worries of those who think the out flow of gold is a run on the U. S. dollar. They say. rather, that those na tions who have been doing better in world trade are now able to rebuild dangerously low gold re serves. The trade situation is better- for them because U. S. ex ports have been falling faster than U. S. imports. Counting in the direct U.S. gov ernment grants and spending overseas, the balance is now run ning against the United States and the dollar gap more than closed tor some nations. Those profiting by this have been putting most of their gains into gold. It's kept New York banks and the Federal Reserve hopping but the dollar is far from imperiled yet. i "-M HV.T uf (OMI PIASOWD Be" AS T.J BOOK ON FOSGITFUlNfSI PI 0 NOWtlCAU Poqo S -l t V ACTUAU1.V t g " eccser lulu AaPIU' NANNy. "- -A va IN K7Vg ce.. rm. riir'li'lnble By JAMES MARLOW Associated Press, News Analyst WASHINGTON AP- Waiting for Bernard Goldfine to testify is like waiting for the launching of a satellite: the results of both arc unpredictable. This fast - talking, gift - giving millionaire friend of presidential assistant Sherman Adams is due to testify tomorrow bcfoie a House subcommittee looking into his relations with Adams and with government regulatory agencies Washington, long used to hav ing spectacular individuals ap pear before committees, has , a special air of expectancy about Boston businessman Goldfine. He talks rapidly and volubly, and seems to throw around ex pensive gifts and favors to men in political office or positions ol political power. Time magazine last month auoted him as saying that when someone like him has problems "Who do you go to? Why, you go to your congressman or your sen alor or to your governor, not to some schmo. The Washington Post in a spe cial story from Boston Sunday outlining the efforts of Goldfine's lawyers to drill him for his ap pearance here gave a pretty clear impression he's a hard man to handle, even by his own law yers. One of them was quoted as say ing: "He will make a terrible witness. He's hard of hearing and he doesn't answer questions well. lie's not good with words. 'It is constitutionally impossi ble for him to give a simple an swer. You can't tell what will happen when he gets on the stand." Even Goldfine's actions appear unpredictable. He had a date with his lawyers at noon, the Posl said, and showed up at 6 p.m. The next night he didn't show up at all. Adams has said he let Goldfine pay hotel bills for him. amount ing to more than $2,000, and be fore the same subcommittee said he had received vicuna cloth lor a coat and the loan of an cxpen sive Oriental rug from Goldfine Adams described all this as part of a personal and friendly relationship extending back for years. Goldfine, who came to this country a poor immigrant, seems from olher testimony before the subcommittee to 'have spread a lot of money and a lot of favors in a lot of places' For example: Gov. Lane Dwin ell. a former political associate of Adams, says Goldfine gave a suit of clothes to every qoxVr-nor in the nation at the 1955 Gover nors Conlerencc. And John Fox, former publisher of Ihe now dcti.net Boston Post, said he borrowed H0O.0OO from Goldfine. Goldfine even sent a bolt of cloth to President Eisen hower whose press secretary. James Hagerty, said Eisenhower gave it away. The subcommittee subpoenaed Goldfine's companies' records, go ing back to 1925, and any rec ords of money he spent on slate or federal employes going back to 1950. What isn't known yet is whether or how the subcommit tee will try to dig into Goldfine's income tax returns to see: 1. Whether the money he spent on gills for political figures like Adams were considered by hurt to be just friendly gilts, as Ad ams says he considered them, or 2. Whether Goldfine actually considered them business ex penses and so deducted them Irom his income tax returns. 7 1 a-uOLV-B V a c r. eC altW ! HIAmO " m PO.S5 C 41" afra4tt By I'nited Press lnlernalion.il HOLLYWOOD - Actress Z.i Zsa Gatxir. cancelling invilatinm lor her scheduled parly in honor ol Dominican pUiov Rafael Tin jillo Jr.: "I am hereby an ins un nn role as Ihe hostess with the mostest and I regret that tin parly which I had planned to give on July the eighth lor rm d.j friend. His K.xOilenoy Gen oral Rafael Trujillo Jr.. must he ancelhw So manv hiends ro- ourslcd mutations that 1 am I afraid the party got out of nan.' Flustered Lady Saved By Nixon WASHINGTON (AP) Vice President Nixon yesterday came to the rescue of a flustered chair-j man, Mrs. Rollwage Collier, who began to introduce him as "pres ident" of the United States and then hastily corrected herself. Nixon told the audience amid laughter at a luncheon jn honor ol Spyros P. Skouras. president of 20lh Century-Fox Film Corp.: "It's appropriate to refer to the vice president as president be cause he is president of the Sen- ale. He followed up with a story about U. S. Treasurer Ivy Baker Priest, a guest at the luncheon. He said she had once introduced Mrs. Nixon as "the next wife of the vice president." BUSY YEAR PANAMA CITY (UPI) The busiest fiscal year in Panama Canal history ended at midnight with a total of 9.468 ocean-going vessels having passed through the waterway in the past 12 months, Moslems regard green as their acred color. O Newspaper SPOT ADS are inexpensive repeated dally Ma J l Ulillt Ililil UJiltttllll i 111 J)) Utllll I jllll 11 1 Itnull Jtt 111 U l Itn 1)11 IJtl I (llli ilitu 1 1 1 1 1 j.il t flf I.r lliif M jttHf H H 1 1 iitlM 1 1 ltll I rr.irm utt las iii iKIriii I America knows ! I its bourbon and its ! I favorite is jl' AS QT. tj) , , , y OLOCROW iiL j Light, mild 86 proof Old Crow by I far outsells any bourbon in the land 3 u'r'7!!''i'n!;','.',"l;'lilillli'''lllll''"''lllml'll,'l rrttiiniiTTtiiirriirfrTTinTriMi'Tf irif rTrfiiTTfiiirTMMTTMriiriitrTtiiiirTiiif rrriirii iiiTTrMirMiiifrmrrfrriirnt3 THE OLD CROW 0IST.C0.. FRANKFORT, KY., OISTR. BY NAT. DIST. PROD CO. KENTUCKY STRAIGHT BOURBON WHISKEt CARNIVAL NOW SHOWING KLAMATH FALLS Division St. Show Grounds July 1st to 6th Incl. Auspices Klamath Basin Round Up Ass'n. 15 Big Rides 15 10 Big Shows 10 Palace of Wonders Fun House Kiddie Land Live Ponies Dancing Girls Fabulous New 1958 Edition Presenting Ihe Mightiest Mo bilization of Super Spectacles, Dynamic Displays and Startling Sensations Ever Brought Before the Eyes of Man! Follow the Twin Searchlights to the Showgrounds The Klamath Celebration Council Invites You To :: 2 GREAT RODEOS . : Klamath Northwest Rodeo An Open Show July 4th and 5th 0 All Junior Rodeo July 6th General Admission -- $1 IE Schedule Of Events: June 30 Hi Noon Activities Main Street Kowpokes 12:00 on July 1st Hi Noon Activities Pelican Theater Kowpokes 12:00 an July 2nd Hi Noon Activities Pelican Theater Kowpokes 12:00 on July 3rd Hi Noon Activities Main Street Kowpokes 12:00 on July 4th Parade "Pathway to Proqress" 2nd to Spring Main St. Jaycees & 10:00 A.M. July 4th Rodeo Foirgrounds K.B.C.C. 1:00 PM July 4th Fireworks Merrill M. Fire Dept. 8:00 PM July 4th Fireworks K. Hill K.F. City 9:00 PM July 4th Western Dance - Smekey Refers Armory Baldy Evans 10:00 PM July Sth Rodeo Fairgrounds K.B.C.C. 1:00 PM July 5th Western Dance - Smkcry L?a Armory Boldy Evons 9:00 PM July ath Buckaroo Breakfast Foirgrounds Saddle Club & S it AM Javcertcs II M A SI July 6th Junior Rodca Fairgrounds Jr. Rodto An. 1 II tm June 30th to July ah Cariival WEST COAST SHOWS Ranch Ireifar July 6th 5-10 am Sfs.U IracMast 1.25 tndcr 10, 73c Klamath Fairgrounds asMfMNaWMniMaaM Attend All Three Days Klamath Falls FAIRGROUNDS Bring the family and get set for a thrill a minute as you enjoy bareback riding, calf roping, team rop ing and a host of other spine-chilling western events. 12 big events in the Northwest Rodee and 10 enter taining events in the Junior Rodee an the eth. Walk, run, wire or phone far tickets ta tha biggest western event af the year. Announctr - Wimly Wt fcexk Confpflcfm TICKETS: Rode Hcxeauartars 530 Main. Box Seats 2.50 Grand Stand, 1st 5 rows .. 2,00 Main Grajnd Stand ( 1.75 eneil Aetatision . 1,00 e
