PAGE A
HERALD AND NEWS. KLAMATH FALLS. OHEHON
SUNDAY, AtTGUST 3, 1958
Market Hears Inflation Talk As Stock Hits 500
FRANK JENKINS
Editor
BILL JENKINS
Managing Editor
FLOYD WYNNE
City Editor
MAURICE MILLER
Circulation Mgr
Ph. TU 4-4752
c
Entered as second class matter at the post office at Klamath Falls.
Ore., on August 20. 1908, under act of Congress. March . 1879
SERVICES:
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Too ooI
By BILL JENKINS
If any of the hunting and fishing
fraternity are feeling down in the
dumps over prospects or past per
formance 1 suggest that Ihey get
bold of a current issue of Field and
Stream and read the piece hy
Frank Dufresne about the pros
pects in the Pacific Northwest.
"Big and booming" are the
words he uses to describe the two
state area of Oregon and Wash
Ington where there is angling every
year and hunting most of it.
One is sort of left wilh the im
pression that it is unsafe to step
out on the front lawn for fear of
being run down by a mighty bull
elk or badly cut up by a migrat
ing band of mulelail. The days are
aomelimes dark and awesome, but
this is due entirely to the clouds
of ducks and geese winging on
their way to the many public
shooting grounds where the hunt
ers are waiting for them.
Fish are measured with the aid
of a yardstick (no fisherman com
plete without one) and the only
problem faced hy the sporting man
Is making the decision as to wheth
er he will fish for battling steel
head, flycast for Deschutes trout,
take off on the trail of the huge-
antlered elk or pussyfoot after
deer.
Mr. Dufresne goes to great
lengths to point out the vast acre
ages of federal ownership with
their resultant benefits to the
sportsman. He mentions several
times the large numbers of public
shooting and fishing grounds. He
paints with a broad brush, viewing
his canvas through a pair of rose
colored bifocals.
I would not be inclined lo argue
all of the points presented in the
piece. In fact,' I can go along with
quite a few of them. However,
there has to be a limit.
Of course writers of this type of
thing are placed in the same boat
as Ihe fellows who announce base
ball games. Never say an unkind
word. All the players are great
fellows, full of fire and an example
10 American youtn. Aiiee same
travel editor stuff. Give 'em what
they want to hear and soft ped
al on anything discouraging. In
snort, use Ihe good figures, not
the had ones.
I can agree with the author that
there is probably as much if not
more hunting in the two slates as
you will find in any other given
area. The same holds true (or fish
ing. Probably even more so. ,
But I would lake a bet at rather
long odds that should some noviti
ate of the outdoor life, perhaps roll
ing in new found wealth, read this
piece he would come Fteaming into
the Pacific Northwest with a great
ly Inflated idea of what waited for
him.
Sure, lliere are fish that need a
yardstick to do Ihe measurement
justice, just as there are spectacu
lar duck shoots every once in a
w hile and bull elk shot on the road
where you can drive the pickup
right up to them.
But these things are not the
norm. They arc the exception.
Read with a certain amount of
caution, however, and wilh n salt
shaker In easy reach I think it is
perhaps a good piece. It goes' a
long way toward slarting the imag
ination to running again.
And it certainly deals with a
pleasant subject. Somewhat Utopi
an, true, but pleasant enough reading.
illlV(llillN
By FLOYD L. WYNNE
It was a great pleasure earlier
this week In publicize the fact thai
three lfi-yoar-old Klamath Falls
boys helped save the lite of a fi-year-old
boy in Upper Klamath
Lake.
All loo oltcn. the aits of vanda
lism or crime mat leon-agors com
mit make the headlir.es, but the
good things they do go unpub
lished. However, a sobering note last
week also was the report of a
gang of young vandals on (he
gin Avenue.
I have on hand a letter which
I received several weeks ngn from
Klamath Falls mother regarding
Ihe juvenile problem.
She has signed Ihe letter, but
for obvious reasons wanted mo to
publish it without her name. That
I can't do because it violates our
requirements for letters to Ihe cd
llor. However, in going over Ihe let
er. I must admit that she has
some very important points that
I think should he passed along,
and I would like lo repeat some ol
the letter.
She leads off her letter with.
"The hue and cry is out across
the country again regarding juve
nile delinquency. And who yells
the loudest? Four groups of peo
ple: those wilh no children, those
with small children, saddest of all.
those whose children are grown
and whose memories have dimmed
to the portentousness ol youth, and
Ihose who won't give five cents nor
five minutes toward constructive
aids.
"I have raised four, two who
became delinquent and two who
didn't, therefore, I feel justified in
speaking my mind about a few
things," she continues.
She goes on to point out that
Webster defines a delinquent as
being a transgressor, or one who
goes beyond the limit.
She also says, "Here in Oregon
we have a law which forbids pern
sons under 21 to purchase ciga
rettes. By actual check nearly
half the students at KUHS do
smoke, yet not one of them is old
enough to purchase cigarettes. Ev
ery time a juvenile lights a ciga
rette he is being a delinquent.
"Some years ago I was em
ployed in a place where I refused
to permit students to buy ciga
rettes from a dispensing machine,
nor would I supply them with
matches. Not one in dozens acted
belligerent. On the other hand, my
employer complained loud and
long about all the money I lost
for him.
Now, my heart bleeds for anv
businessman who has to resort to
crime in order to prosper."
She continued her letter saying
"For every child who becomes a
delinquent there is at least one
adult who deserves blame. We
parenls can teach our children it's
wrong lo smoke, and it's wronc to
drink, but as long as there are
delinquent adults who will sunnlv
these items, parents are rather
helpless.
"Aside from cracking down on
Ihe erring adults, do I have a
guaranteed solution to offer"?
from my own experience. I'll of
fer a couple suggestions. One thing
that the kids themselves beg for
more publicity lor their eond
deeds and less glorified headlines
for their misdeeds.
in me nisi place, do away
wiui uus mionigiu curlew, espe
cially on school nights. There is no
child who has any business out
that late at night. He can go to a
movie, stop at a drive-in for
snack, and he home by 10 p.m.
or he can spent the next two hours
becoming delinquent in devious
ways.
"It's not easy for parenls to con
trol their children when the city
says it's okay for them to stay out
half the night. Especially since Ihe
midnight curfew isn't enforced!
one Wednesday night recently, I
counted 14 carloads ol teen-agers
in local drive-ins after midniiiht.
mumier solution can come
irom the high schools. There
should be a law requiring atten
dance In school for the full school
(lay, wilh no exceptions, and enough
required Homework to keep stu
dents occupied for a couple hours
each evening. One of the greatest
gripes about youth today is that
Ihey have too much leisure time.
Innumerable students at
KUHS attend classes only two or
tree periods then spend Ihe rest
of the day wandering the streets.
What a fruitful way to contribute
to delioqucncy!
"My two who became delinquent
attended school half-days; the oth
er two kept to a lull and busy
schedule and their sihool was up
permost in their thoughts.
Speaking from experience, and
Irom what I have seeo in other
families, 1 believe Tit I should he'
restricted lo seniors.
When a child has a job, school
becomes boring, secondary circum
stances to put up with, interest
lacs, and he often drops out he
fore graduation.
"Most assuredly it may lake
(our In five years to get back to
the lull day of school without dif
ficulty, but when it has been made
clear to a child that he must at
tend without exception, school will
become the institution of learning
that it ought to be, instead of a
place constantly striving for new
ways to entertain its pupils."
Again, let me repeal that this is
a letter from a mother who did
not want me to use her name, but
did wish her opinions put in print
for whatever benefit they may be.
She has some good points.
I find agreement that all too of
ten the misdeeds instead of the
good deeds of teen-agers find their
way into print. This, in turn, can
not be taken as a condemnation of
the newspapers, however, since
they do not make the news, they
only print it.
Di.Hiigri'onii'iit,
Klamath Falls (To the Editor)
As of July 30 your paper carried
several columns about S. 3051, the
amendment to P.L. 587. I shall
make this as brief as possible, but
I am sure the people of this coun
ty should know the facts about
3051 which you and Floyd Wynne
so ardently advocate. In the first
place, you and Mr. Wynne must
know, that you have no business
attempting to influence people in
the settlement of private property
rights of citizens of this country.
We are citizens whether you like
it or not. Some of us on the
reservation pay as great a tax
either of you, perhaps more. We
are willing to continue to do it
and furthermore, contribute our
fair share to this county's econ
omy and the country in general.
JTiis reservation has contributed
more than 40 per cent of the gen
eral economy of Klamath County
and for all of 80 years and more.
The Indians Have helped to do it
wilh the stranglehold of the Bu
reau of Indian Affairs, the politi
cians and certain industrialists and
business groups around their necks.
Few people have the time lo fol
low the intricate maze of duplicity
and deceit which has stalked P.L.
587 since it's enactment, pnd your
paper continues to report halt
truths.
Here are some of the facts.
about S. .1051: First f ho amnnri.
ment would shackle the sale of and cry nho"t
greater fraud to attempt to legal
ize the seizure of private proper
ty? It is upon this basis, this so
called "realization value" that the
marsh lands will be taken: and
any ef the unsold timber units. It
isn't likely that businessmen will
enter the market place and accept
a clouded title to land for which
they have paid their hard dollar,
and which lands can be confiscated
by a department of the govern
ment because of some failure, real
or otherwise, to comply with gov
ernment rules and regulations.
We are all for conservation but
I wonder: Would Floyd Wynne and
others like him pay for it through
the nose? Why didn't he and the
Ncubergers write their version of
sustained yield into the statutes of
Oregon when the latter team were
members of the Legislature?
Ninety million dollars is the
maximum amount payable by the
government for lands acquired by
the United States. There will be no
bidding. The secretary of agricul
ture and fish and wildlife services
will simply take these lands at the
fictitious "realization value." On
page 14 of S. 3051 provision
made for a "different amount" to
he paid for all of these lands, if a
law is enacted, "prior to the proc
lamation of the secretary of agri
culture" when these lands are tak
en.
S. 3051 carries merely an author
ization for appropriation of funds.
It is not a money bill. Appropria'
lions for federal funds must hur
dle the Bureau of the Budget and
the two appropriations committees
of the Congress. S. 3051 provides
on page 14, line 20 that "payment
shall be made as soon as possi
ble."
These are some of the worst fca
turcs of S. 3051. What about the
loss of interest on capital, which is
ours by right of law? What about
all of the losses in timber mortal
ity and huge administration costs
out of the liquidated timber re
sources? Last, but certainly first
this Machiavellian scheme
would be the . loss to us of our
inherent rights to be free men and
free women in this great American
democracy!
Let us hear no more, the hue
protection of the
By ELMER C. WAI.ZER
I PI Financial Editor
NEW YORK, (UPH Since the
stock market industrial average
crossed the 500 level there has
been a deluge of talk of inflation.
The subject has been highlight
ed in many business and news
publications. Brokers have talked
about it.
It all started a few weeks ago
when there were rumors, entirely
unconfirmed, that the Federal Re
serve was abandoning its easy
money policy to prevent a return
of inflationary tendencies.
That caused a sharp -drop in
bond prices at just about the time
a lot of novices had taken a flyer
at free riding on an issue of gov
ernment bonds.
Newsweek in its current issue
features inflation under the cap
tion, "Booby Trap More Infla
tion." Moody's slock survey notes that
the Middle East crisis brought up
the idea of a possible limited
war with a decided inflationary
twist. The survey holds that the
chief danger to the market at
this point is from deflation of that
image.
Standard & Poor's recently said
the rise in cyclical stocks stem
med from the twin forces of busi
ness improvement and inflation
psychology, both accentuated by
the Middle East crisis.
NO BARGAINS
Barron's held that stocks are
plainly not on the bargain coun
ter and, even granted inflation
will be allowed to run its classical
course, earning power must re
vive quickly and forcefully to
sustain a continuation of the pace
of advance of the past months.
Financial world finds bullish
psychology has been stemming
from the undoubted inflationary
They'll Do It Every Time
I-. By Jimmy
Hatlo
our properly lo private purchasers
with plans lo be prepared and
submitted hy Ihem for approval
and inclusion in Ihe conveying in
struments," etc. Actually the com
petitive bid clause is mockery
thrown out lo deceive the public
into imagining that the lands will
be sold to competitors. The sec
retary of agriculture must first
approve the plan before the sec
retary of interior will consider the
bid: Thus our private property is
further manacled.
We have paid more than a quar
ter of a million dollars for the ap
praisal which the secretary of the
interior approved and under which
we "elected to withdraw or re
main." The appraisal by the West
ern Timber Services is, in round
numbers, 157 million dollars. Now,
you and Floyd Wynne and Ihe pol
iticians would change that apprais
al wilh an "appraisal review" in
the hope of achieving some ficti
tious paper value designated "re
alization value." This you would
do to legalize a fraud, and illegal
ly seize our private properly, lie-
niemher we voted in April after
Ihe appraisal and under P.L. 587
to remain or withdraw. That was
a vested right.
Upon failure of Ihe reviewable
board lo reach an agreement of
Ihe "realization value" Ihe reali
zation value w ill be determined by
averaging Ihe values estimated by
each appraiser. Was ever there a
dealer fraud upon which to base
a sale of private property, to set
tle an estate? Was ever there a
Poqo
hildren's funds." More than one
half of the 2,133 equities belong to
the children. It is their equity
which Mr. Wynne proposes to take
under ficititious "realization val
ue." I, too, suggest, most sincerely,
that you as a faithful citizen to
the American principle of "equal
justice under law" . . . write to
Ihe members of the Conference
Committee on S. 3051, Interior and
Insular Affairs Committee, United
Slates Capitol, Washington, D.C.
and express your opposition lo en
actment of S. 3051. "Fire Sale,"
"Protection of Indian Property,"
"conservation" by people like Ull
man, Neuherger, and Wynne is hy
pocrisy. Hollow words . , . to in
cite opposition to P.L. 5117.
I challenge Floyd Wynne to a
public debate any lime and any
place on Public Law 587 and their
proposed amendments S. 3051.
Mrs. Wade Crawford
'Q9r,3 "V "Vat a:.u se..Y v fj f rn til
Slioofing Story
Klamath Agency (To the Editor)
The Herald and News carried a
story recently of an altercation,
and subsequent shooting that oc
curred in Chiloquin. Since that
time I have talked to some very
reliable witnesses to this aflair.
uid I have found that at least part
of the story is erroneous. The story
stated that "the bartender was
forced to shoot as he was threat
ened by a man wilh a knife." Eye
witnesses state that the bartender
was on one side of the street,
while the recipient of his bullets
was on the other side.
As the wounded man was an
Indian, this type of story adds
fuel lo fire of ill feeling that al
ready exists between Indian and
non-Indian peoples in Klamath
County. I have heard hroadmind
ed and intelligent Indian fellows
state the opinion that the newspa
per intentionally prints slanted
stories to make the Indian appear
the villain.
In my association with the pa
per, 1 have always found the news
paper staff to he fine, honest per
sons who printed the truth, regard
less. I would like to believe that
it was misinformation, raiher than
intentional defamation.
I believe that "freedom of
speech," and "freedom of press"
are two of our most valued rights,
and should be respecied as such.
Nelson Sharp
1H4T EXTR4 ROOM OM
DIM BULB'S HOUSE--ME
HIRED A C4RPEMTEC?
FOR H4LF A Day TO
OUT THE
JOS'
So WHEN IT TURNS OUT JUST LIKE
THE HOMEM4DE LE4MTO IT IS, WHO
DOES HE OIVE CPEDfT TO ?
' N4MED
j7S feSs. WHO DID PLUMSOBHE
J!?'' 3JSll V 1 YOU SAV I TOLD ME HE WAS I
yy . nssvbuilt it? a carpenter-
jSZJ OUJE-I JUST W' irl I TOOK HIM AT
gSH W4NTEDVO0TO -- ju 3 sHhiV HIS WORD
U.S. Given Opportunity
To Face Facts Of Life
By WILLIAM L. RYAN
AP Foreign News Analyst
Election of Gen. Fuad Shehab
as president and prospective
peacemaker in tormented Leban
on gives the United States an op
porlumty to face some Middle
East facts of. life and possibly to
rescue some of its sagging for
tunes there.
Oen. Shehab is in a position to
help turn Lebanon into a sort of
Switzerland of the Middle East-
neutral in the quarrels between
Arab and Arab, Arab and West
erner and the two great world
blocs.
The role is logical for Lebanon.
Indeed, there has been reason to
believe that Ihe United States was
somewhat embarrassed by the ar
dor displayed by President Camille
Chamoun in embracing the West-,
ern cause. It was a case of Le
banon supporting and defending
the United states, or something
akin to the tail wagging the dog.
A large number of Lebanese.
both Christian and Moslem, as
pire to a role of neutrality. Many
n Ihe rebel opposition, too, have
ndicated that such a role would
satisfy them. They see Lebanon's
future contribution to stability in
her service as a bridge between
extremes in the Middle East. For
ebanon, the role would be in
keeping with tradition.
Apparently Gamal Abdel Nas
ser s intention with regard to
Lebanon was to exercise control
over her foieign policy. This will
come about if the extremists
lmnng the opposition have their
way. But if Shehab can steer
ebanon into an enlightened neu-
ralily, the country stands a
chance of remaining independent.
llOllM
United Press International
WASHINGTON - llr. Milton Ei
senhower, just 'eturned from
South America, uriins a shift in
U. S. fiscal foreign policy:
"The imperatie need is for
bankahle loans not grants in
ery country visited."
Goldfine Firm
In Jam Again
WASHINGTON (API - Bernard
Goldfine's East Boston Co. is in
trouhle with the federal govern
ment again.
the Securities and Exchange
Commission said Friday it
plans to take court action acainst
the firm toi failure to file its an
nual financial report by last Tues
day's deadline.
East Boston, a holding concern
for various Goldfine properties.
has had repeated trouhle with the
hC for failing to submit over an
ight-year period the yearly finan-
lal statements required bv law.
During a House subcommittee's
ecent investigation of Goldfine's
Healings, it was reported that the
Boston millionaire's old friend.
Sherman Adams, had made in
quiries to the SEC in IMS about
eourt action taken against East
Boston because of Ihe late filinss.
Adams. President Eisenhower's
right hand aide, and SEC officials
denied any pressure was broucht
;o bear. The SEC also denied that
it made things easy for East Bos
ton because of the White House
inquiry.
Nevertheless, House imcstisa
tors contended a federal judge's
fj.non fine levied against Ihe firm
was Ion lenient.
The United States, many Leba
nese argue, would be shortsighted
in insisting upon stamping Le
banon indelibly with the Western
brand.
The announcement that Prem
icr Sami Solh wants to contest
Shehab's election should not be
taken seriously. The premier has
little real authority.
Shehab is repeating his 1952 role
taking over as a sort of care
taker president lo offer a chance
for compromise of a deep politi
cal quarrel. He is unlikely to want
to remain in the presidency (or
long. Thus, what will concern Le
banon s politicians now is the ex
tent lo which Chamoun will exer
cise influence in choosing the man
who will succeed Shehab.
A middle of the road Maronile
Christian acceptable both to oppo
sition and government forces is
the answer.
Perhaps American troops will
remain in Lebanon while this is
sue is being settled. If they leave
before it is settled, the little coun
try is likely to explode all over
again.
FIVE
TO
A
BED!
Ami they're the lurky ones
five children crowded Into a
bed that was made for one.
Overseas, millions of children
are growing up in hovels, be
cause their parents, who once
lived in clean well-kept homes,
have had to flee from oppres
sion. These are children who
don't know what a sehnnl is.
They're being starved mentally
as well as physically.
Already you have helped
countless numbers through
your gifts to the ovfrseas aid
Programs of America's reli
gious faiths. Please continue
to support your faith's pro
gram. Even a dollar can do so
much.
PROTESTANT
Share Our Surplus Appeal
CATHOLIC
Bishops' Clothing Collection
JEWISH
United Jewish Appeal
PuhUghrdaan puh'iettrvieair rn.
eprrntinn vith T Atlvrtigtv
I'mntril ttvH th Xru-nrtpr ,4f.
rfrtnivo Exteutirr 9 Atttinn'ynn.
FRED R. KRAUEL, D.M.D.
Takes Pleasure In Announcinq That
ROBERT L. JENSEN, D.M.D.
Will Hereafter
Ee Associated With Him
In The Practice of Dentistry
KLAMATH MEDICAL CLINIC
1435 Eiplonodt St.. Klamath falli, Cr. Pbon TU 2-5562
Governor Quits
For Senate Race
WASHINGTON (AP) Presi
dent Eisenhower has accented
Mike Stepovich's resignation as
territorial governor of Alaska with
strong praise for the Republican
Senate hopeful.
The President did not specifical
ly mention Stepovich's reason for
quitting the appointive job his
quest for one of Alaska's two new
Senate seats. But he told Stepo-
vich in a letter released by the
White House Friday:
"Your proven ability lo work
for the good of all Alaskans and
our nation has been amply demon
strated ..."
Alaska is expected to become
the nation's 49th state later this
year after a referendum of Alas
kans approves the terms of state
hood laid down by Congress.
waino Hendnckson. secretary
of Alaska, automatically succeeds
Slepovich as governor.
factors in the outlook.
Joseph E. Granville, analyst for
E F. Button & Co., says that thus
far the market has been telling
us that the problem of inflation
has been replacing that of reces
sion. Any number of additional ex
amples of this inflation discussion
could be cited. And now there is
a bit of evidence that it's spread
ing what with steel prices in an
upturn and the prospect of other
price advances.
However, there are warnings
that inflation while it may be
building hasn't become the force
some people think it has.
The current business and in
vestment service of International
Statistical Bureau takes that
view.
"There is little likelihood," says
that service, "of any marked gain
occurring immediately or even be
fore the end of the year, assum
ing no marked worsening of the
Middle East situation."
PRICES HOLD FAST
"Despite the inflationary psy
chology, generated partly by the
huge federal deficit, there are no
indications of sharply higher pric
eseither wholesale or retail."
Business and investment serv
ice finds no inflation in residen
tial building or real estate values,
and it notes there has been con
siderable selling of goods below
so-called official quotations. Also
the Middle East situation has
brought only moderate gains in
international commodities.
The service holds that whil
there is no marked inflation indi
cated, deflation has run its course
and it adds that inflationary fac-
Inre am flaininff
These factors include a possible.
12 billion dollar budget deficit, in
creasing supplies of money, edg
ing uo of labor costs, more liber
al credit terms In the making,
and continuation of agricultural
support.
The service believes corpora
lions should do more buying and
that they should give considera
tion to further rises in labor costj
in their pricing, and that real es
tate operations can continue on a
normal basis
rtnnrtnnrtrflTnrrtnnrm
LESSONS
$ 1 25 Organ, Piano
I Guitar, Accordion
FOR BEGINNERS
ARMSTRONG MUSIC STORE
3 Tim S. 6th TD 2-322
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SMOKES
PREVENT FOREST FIRfS!
some basic facts
about America's
basic advertising
medium ... the
daily newspaper
An average of 58,000,000 copies of news
papers are sold every weekday in the U.S.
more than packs of cigarettes, quarts of milk
or loaves of bread.
In our 4-county "Slate of Jefferson" there
, are 28,072 copies sold every weekday. In ad
dition to the 14,000 Herald and News copies
there ate: Sacramento Bee, 3718; Siskiyou
Daily News, 3528; The Oregonian, 2506; Ore
gon Journal, 1783; S. F. Examiner, 1704;
S. F. Chronicle, 535; and Redding Record
Searchlight, 295. Also, copies of weekly
papers in the four counties come to 7836,
making a newspaper total of 35,908.
Th daily newspaper it America's basic ad
vertising medium because if Is basic in th
iivit of its readers. Ever interesting, helpful,
rnferowtiv if is welcomed as a friend of
m fml? m heaes averywher. To sell thpie
filit yr product or services, use th
(jaily vjper as your basic medium of
aserfsei!)
nr-
t