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About Herald and news. (Klamath Falls, Or.) 1942-current | View Entire Issue (July 28, 1958)
MONDAY. JULY 23. 1958 HERALD AND NEWS. KLAMATH FALLS. OREGON' PAGE SEVEN Vall Street Experts Give Market New Pat On Back By ELMER C. WAITER I PI Financial Editor unable to generate any enthusi asmexcept on a long term ba- NEW YORK (UPll-Wall Street sl' or Duy,ng mosl sl(Hks- experts are giving (he market a "iHiam n. White, analyst for new pat on the back in the belief Hcrnblower & Week's, believes the Middle East situation will slrensth in the face of disturbing give the general business picture events in the Middle East may new color. ne attributed to: Some of the commentators who "1. An increasing maturity in recently warned against the pros-appraising world ecnis, and 2 pect of a selloif have turned Sustaining influences afforded by about and are now bullish again Standard & Poor's says the market may be subject to nerv ousness from time to lime "but the situation does not call for any basic change in the generally constructive investment policy heretofore advocated." Standard holds that the mar ket's action in the face of dis turbing international news has been encouraging, "testifying to the strength of underlying de mand and the refusal of investors to panic." The Reynolds & Co. commenta tor sees business moving forward at a more rapid pace and that factor he holds seems likely to justify fully the present selling price of most equities. "Thus while the likelihood of a worthwhile setback in the mar ket, which we visualized as re cently as last week, can probably be ruled out in the light of sub sequent events on the interna tional scene." he says "we are Man Dies From Lethal Liquid PORTLAND (AP) - A 60-year-old man died at a hospital early Sunday, a few hours after drink ing from an old bottle of 6(l-cent wine. Another man became ill. Edward J. Collopy, Portland, died at a Vancouver, Wash., hos pital. Albert Wiley, 36, Portland, became sick after drinking the wine with Collopy. Wiley told police he took a drink of the wine from a paper cup. It tasted bad. he said, and he threw out what remained. Wiley aid they had found the bottle in a locker where they were em ployed. An autopsy was performed on Collopy and the wine bottle was taken to the University of Oregon medical school for analysis. aggressive institutional demand for equities based on easv credit policies and hedging against in flation. Joseph F. Granville, analyst for E. F. Hutton & Co., sees in the need for the treasury to make increasingly frequent trips to the money market at a time when the government will be try ing to hold the line against infla tion as a clue to the future. "The implications," he says. "now point to the possibility of the widest participation in the equity market on the part of the public that has ever occurred. Edmund W. Tabell, analyst for Walstnn & Co., however, finds the industrial average still bump ing against the heavy overhead supply that exists between 480 and 520. "It remains extremely douht fill." he says, "that the market will he ahle to push through this supply at this time. He finds no tops have been formed but adds that further ac tion around these levels could build up a broad distributive area. lie adds that there seems to be no indication that the policy n buying slocks of favorably sit uated industries on minor weak ness and of using strength to dis pose of unlavorable commitments should be altered. International Statistical Bureau says that the period of tension probably will be a protracted one with the market getting into the shadow of fear of government controls. The bureau believes the latest developments strengthen the business outlook somewhat for later in the year, assuming war is avoided. , Fitch Stock Survey says "a careful and selective approach to new commitments is now war ranted more than ever." Morty Meekle LOAF Of BSEAP ANYTHING EL5E, NTHROP I I I - 7 . TT T 1 " II Ml I I I III! 1A. I I ' Ifll ' ' I rh- RAINING.' S M . '.I.!-:.! i "V " nVJ Jibi s Man Clears Conscience For Firsi Time In 70 Years Young Miss Pleads For Ike To Unlock 70 Pound Chain WASHINGTON IVI Nine- Cliett, went through to buy 700 acres of land in Texas. Her moth er has been ordered off the land following a court suit but is armed and refuses to leave. She also claims to have seceded from the union and refers to her land as a foreign country. Angeline's aunt, Lucy Mayberry. who thought up the chain idea, has been sitting with her niece and handling diplomatic maneu vers with White House guards. By RONALD WAGONER I'uited Press International SAN QUENTIN, Calif. (IPU- Goldie Robinson had a clear con science today for the first time in 10 years. 'I'm just tired of running." he Conqress To Adjourn Soon WASHINGTON (VPP - Con gressional leaders looked forward today to adjournment in two or three weeks provided the Mid dle East crisis doesn't worsen and upset their plans. Assistant Senate Democratic leader Mike Mansfield iMont.) was on- record with a prediction the 83th Congress would wind up its business by Aug. i. House Re publican leader Joseph W. Martin Jr. (Mass.) circled the same date. Some other key lawmakers, however, thought Aug. 16 would he a more likely departure time in view of the array of major leg islation still to he acted on. Concrcss still has to deal with "must" legislation including de fense appropriations, farm tax, welfare and labor bills. said wearily as the gates of San Quentin closed on him. once again. Robinson s long years of eluding '.he law came to an end in Sacra mento Monday when he walked into the office of California's chief parole officer, Salter T. Stone. '.My name is (.oldie Robinson. he began. "This may be a little unusual, but I wanted to tell you I walked away from a forest up their first. In their nervousness, they killed clerk Nicholas Desario. They were convicted of first degree murder and sentenced to prison for life. Rarker was subsequently paroled in 1053 and left the state. FELL IN LOVE In the slimmer of 1948. Robin son was sent to Squaw V alley to work in a prison forestry camp camp in Plumas County 10 years; He walked away from the camp ago." IIOLDl P KILLING He paused. "I killed a man In Los Angeles in 10-12. I was up for life " "Sit down." Stone said. "Let's talk this over." Robinson, now 44. told his story. On (he night of Fob. 12, 1042. he and his brother-in-law, Quiller B. Barker, entered a liquor store in Huntington Park In stage a hold- few weeks later. After working as a farm laborer, he finally set tled down in acramento to a job with a construction firm, using a false name. I Every time I looked lip, I saw a policeman coming toward me," he said. He met a woman, fell in love with her and asked her to marry nine's mother, him. But he had to tell her of his past. She urged him to give himself up. So did his foreman. 'It's an odd thing." said Stone "This man proved through 10 years of exemplary living that he was a fit subject for parole, mil he had to prove it by escaping." teen-year-old Angeline Cliett en- ered an endurance snowaown with President Eisenhower today over a 10-pound chain she wants the President to unlock Irom her neck. The difference was that the President was snug in the While llraise and Angeline had only a pillow between her and the con crete in front of the executive mansion. But Angeline said she would try (o stay there around the clock and "see who can hold out long er," she or the President. She had been refused an au dience with the chief executive. White House guards have offered her the key she mailed to the President to unlock the chain. She savs it is the only key, but won't accept it until she sees the President. The chain is supposed to be "symbolic of the slavery" Ange- Mrs. Irene Smith STILL GOING STRONG LONDON i VPP Sputnik II completed its 1.000th trip around the world Sunday, Moscow Radio reported. - BEAR FOR LVNCH WEST YELLOWSTONE, Mont 'VPP The Rev. and Mrs. Paul Frickman reported Sunday they saw a bear enter their car and eat their picnic lunch while they were viewing the scenery in Yel lowstone National park. .... ......... CALL ..... AMY BROWN TU 2-0344 tor STAUFFER Hama Raducing Plan Demonstration TIDE CLAIMS FIVE LIVES MONT SAINT MICHEL, France (UPP The famed racing tide in the bay surrounding (he Abbey of ri Mont haint Michel claimed five victims Sunday. They were among if! eight persons fishing from an is land in the bav who failed to no tice the tide roll in. EARWIG Control Call Bakers Nursery HURRY! Only MORE DAYS of our BIG STOREWIDE SALE! LUCAS FURNITURE Borrow Quickly... 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Though employment in some areas has fallen off, there are 15 million more jobs than in 1930 and there will be ZZ million mnre in 1975 than today. 3. MORE INCOME . . . Family income after taxes is at an all-time high of $5300 is expected to pass $7000 by 1975. 4. MORE PRODUCTION., . . U.S. production doublet every 20 years. We will require millions more people to make, sell and distribute our products. 5. MORE SAVINGS . . . Individual savings are at highest level ever MiO billion a record amount available for spending. S. MORE RESEARCH . . . $10 hllmv spent each year will pay oft in more jobs, better living, whole new industries. 7. MORE NEEDS ... In the next few years we will need more than t'ton hUmn worth of schools, high ways, homes, durable equipment. Meeting these nesda will create new opportunities for everyone. ADD THEM UP 'ami you hire the mnh.ngs o annlh'r big upfwing. 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