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
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LUCAS
FURNITURE
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phone for a loan.
Walt Binqham,
Manager
LOANS
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Suburban. Finance
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17 IU VIII rili WIT II M vuuilll 1 w j v -.- H iiiiitltfcwrtil MilfllllMhritl'
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pmTpm
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THERE'S A NEW WAVE OF OPPORTUNITY COMING ...
AND SMART PEOPLE
ARE GETTING READY FOR IT!
7 BIG REASONS FOR CONFIDENCE IN AMERICA'S FUTURE
1. MORE PEOPLE . . . Four million babies yearly.
U.S. population has HmMM in last 50 years! And our
prosperity curve has always followed our popula
tion curve.
2. MORE JOBS . . . 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. Wuf planner, builders and
bvym wii net now to gel rendy for it.
rnrri
riDCii Send for this now 24
page illustrated booklet, "Your
Groat Future in a Growing America."
Every American should know thsse
facts. Drop a postcard in
mail today to: The Ad-
VEBTISISC. Col'NCIt..
Box 30, MiH'own Stshon,
New York IS, Ne York
09
Tot
Oathma
las
Growiai Aaanca