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About Herald and news. (Klamath Falls, Or.) 1942-current | View Entire Issue (Aug. 26, 1958)
TVKSDAY, AUGl'ST 2fi, 1058 HERALD ANT) NEWS. KLAMATH FALLS. OREGON PAGE SEVEN .BASIN BRIEFS Adensuer Will Attempt Assessment Of Mideast BONN'. Germany 'I'Pli Chan- there first is agreement on the cellor Konrad Adenauer, in meet- present situation thete. ings with the premiers of Italy Tnere remains basic disagree and t ranee during the next four ment on this point of departure, weeks will attempt to reach an it rpmains despite U.S. Secretary agreed assessment of the Middle! 0f stale John Foster Dulles' and East situation. i Italian Premier Amintore Fan- Adenauer, his advisors say. feels jfani's blitz visits to see Adenauer, Mr. and Mrs. Edwin Stastny this 'family of Langell Valley. any attempt to prepare a western late in July and early in August. week were Dr. and Mrs. Edward Mrs. Johnson's sister, Mrs. Harry Frazier, in Langell Valley. They are also visiting other relatives in eluding the 0. C. Johnsons, the Dearborns and the Leavitls. Farm Meeting The county Farm Bureau Women will be guests of the Merrill Farm Bu reau Women, Thursday afternoon. August 28 at 1:30 in the parlor of the Presbyterian Church. All farm women in the county are From Grand Junction Mrs. Na cordially invited. jin? Robertson. Grand Junction I Colorado, is a guest at the home Malin Visitors at the home of of her father, Fred Schmoe and plan for future treatment of the Arab world is fruitless unless The West German chancellor will receive Fanfani for a second meeting at the former's vacation residence on the shores of Lake Como Aug. 31. He also will have his first meet ing with French Premier Charles de Gaulle since the latter took of fice in De Gaulle's Lorraine home on Sept. 14. ll.illnc inrl Vantxni knlh Dr. Robert E. Garrison spoke to'con(erred recen,iv witn De Gaulle, the Newcomer s Club August 21 on jne formcr just bcfore and tne la(. tor just after the Iraqi revolution Doctor Talks To Newcomers the present day doctor of chiro practic. Dr. Garrison illustrated his talk with slides and demon strations and cleared up several points on one of the less under stood branches of the healing arts. He answered questions at the con clusion of his talk. In the absence of President Mrs. Sam Moss, the vice president, Mrs. John T. Howard, conducted the meeting. Cards concluded t h e evening with Mrs. George Callison winning high at canasta, and Mrs. Gene Cox, low. Prizes in pinochle went to Joan Eayrs and Mary Lou 01 ney. Attractive table favors were the gift of Lee Hendricks. The next meeting will be held September 18 at 7:45 p.m. in the Pelican Party Room. All women new to this community are invited to attend, the purpose of the group being to welcome people to Klam ath Falls and acquaint them with the facilities and advantages to he found here. Phone TU 2-0448 for information. Rada and their four sons from Vacalion Mr. and Mrs. Arnold Los Angeles. Dr. Rada is on the Skoog and their two small chil- laculty of UCLA. Idren have returned to their home I in D'jrris recently from a month's In Cedarville-over the weekend vacation to Minnesota ana tanaad. lo attend the rodeo were Mr. and Mrs. Mervyn Wilde of Malin. Trouble Seen For Stock, Bond Market Says Scribe Annual Fiesta imurnea to nis nome in .iaun m is Karl Kujae who was called to rfOYCS 3UCCGSS Milwaukee, Wisconsin by the death of his brother-in-law and illness of his mother. Chinese Reds Hit Moslems HONG KONG AP Commu nist China, which claims to sup port Moslem nationalism abroad, is cracking down on some 10 mil lion Moslems at home. Reports reaching Hong Kong Ml of isolated uprisings by Chi nese Moslems against the atheist regime. They speak of party pur ges, forced collectivization and criticism of Moslem nationalism in China. Communist press reports said local Moslem leaders and priests last July incited more than 1,000 Hui tribesmen, one of the largest Moslem minority groups in China, to revolt. The tribesmen reported ly killed a Communist official in east China's Shantung province. The reports said the revolt was 'resolutely crushed." Nationalist sources said a full scale revolt has broken out in Sinkiang province and that more than 10.0(10 well-armed Moslem I'ichur tribesmen are fighting the Rods. which caused the U.S. to land troops in Lebanon and the British to do the same in Jordan. The apparent air of compromise around the United Nations head quarters in New York has some what eased the sense of urgency ;fornia. in diplomatic circles in Europe. Fanfani. Italian sources report, feels the .Middle Eastern economic development scheme President Ei senhower proposed to the United Nations incorporated many of Fanfani's own thoughts. But many details remain to be ironed out, and here is where both Adenauer and Fanfani and, pre sumably, De Gaulle, believe there first should be an agreed assess ment for the Arab problem. Fanfani, the sources say. be lieves the main aim of Western pol icy should, be to prevent the Arabs falling under Communist governments. On this point, Adenauer is in complete agreement. ranfani believes, however, a se ries of non - aggression pacts among the Arab states is neces sary to preserve peace in the area. Here, Adenauer disagrees. Aden auer is said to believe in the in evitability of complete Arab un ion under the leadership of Egypt's Gamal Abriel Nasser. The German believes any Western at tempt to stem this process is fu tile. Visiting in Malin at the Fred Gordon home are their daughter and family, Dr. and Mrs. Holbrook Bonney and children, Anne and Mark, from Los Angeles, Cali- Reeent Guests in Malin of Mr. and Mrs. Karl Kujac have been two groups of visitors, the Harold Dryden family of San Mateo, Cali fornia, and Mr. and .Mrs. Hans Uherck and their three daughters. Suzanne Kujac returned home with the Uhereks to Stockton, Califor nia for a visit. Visitors Dr. and Mrs. B. G. Lewis and children, Cindv and Nolan: Mr. and Mrs. Frank Wil son and son. Danny: and Mrs. Lor raine lliggins, all of Santa Rosa: and Mrs. Lily Stamper of Yakima. Washington, were visitors at the home of Mr. and Mrs. Ishmael Dick in Bonanza last week. From Tigard Mr. and Mrs. Ev erett Sparks and son, Bill, of Ti gard are guests at the home of Everett's parents, Mr. and Mrs. Bill Sparks, of Bonanza. Fishing Mr. and Mrs. Bud Har ris and children of Langell Val ley are spending 10 days vacation ing and fishing on the California Coast. McCLOUD The eighth annual Lumberjack Fiesta was a well attended and financially success full celebration, according to Gary Caswell and Allan Carter, co-chairmen of the affair. Over 3,000 persons attended the two day fiesta, and about 1.000 paid admissions were received at the Ihree aquacade showings. The two dances, a teen-agers dance Friday night, and a public dance on Saturday, were also well attended. Nile Young. McCloud golfer, won the Saturday's hole-in-one contests and Rex Hayes won the Sunday's contest. The Mount Shasta Little League All-Stars defeated the McCloud All-Stars 6-3 Saturday before a large group of spectators from jboth communities. Nearly 500 spectators and con testants attended the Horse Show Sunday. The Gazelle Cluh won the traveling trophy with a total of 32 points. Montague was second with 23 points, and McCloud, third, with U points. Oren Glynn. McCloud horseman, was hospitalized due to injuries incurred when a horse fell on him during Sunday's horse show. The gem and mineral exhi bit, USFS exhibit, flower show and miniature railroad attracled many visitors from Northern Cali fornia and Southern Oregon. By F.LMER C. WALZER I PI Financial Editor NEW YORK i UP! (-The stock and bond markets have some problems ahead with the bond sec tion seemingly nearest the wailing wall. The experts think the stock market can go higher. They are skeptical about bonds because of firming money and the pressure of Treasury offerings. If these things occur in thati sequence the net result will be a crossing of the lines in the graph of yields of those two mar kets. Stocks will yield less than bonds for the first time since the l'J20s. Currently stocks in the Dow Jones industrial average yield 4.16 per cent and high-grade cor porate bonds yield 3.80 per cent. According to the firm of Arthur Wiesenherger this 36-percentage point difference is the smallest since February 1939 when it was 30 points. The yield on a stock or bond is the return to the investor on the dividends or interest paid at the price the issue was pur chased. For example, American Telephone, paying $D annually, yields exactly 5 per cent at $180 a share. Standard 4 Poor's says the stock market has two courses of action open to bring the list into a more realistic relationship with underlying conditions: 1. A fairly sharp reaction, and 2. for the market to hesitate and consolidate its position while wait ing for business to catch up. "We are inclined to believe," says Standard, "that the latter course will prevail, in view of the pressure of funds seeking invest ment and the widespread leehng of contidence fostered by the economy s strong recuperative powers." The Wiesenbcrgor firm holds that the level of yield should be no worry for the investor. "If stocks are headed higher and bonds lower," says' the firm, "we are likely as in the early 1920s and the early 1870s lo sec long periods when slock yields will stay below high-grade bond yields a fact that will doubtless elicit much comment but will be more normal and orthodox than not." According to the government bond firm of Aubrey G. Lanston 4 Co., the Treasury is up against a tough problem. On Sept. 1 it must pay out $1.9 billion to meet maturities of the 2s and 21s that were not exchanged during the recent refunding offering. In addition interest and other ex penses will pull down the Trea sury balance to the point where the Treasury may decide to raise some new money by selling addi tional hills. For the remainder of the year, it appears to the Lanston firm as though the Treasury may need to sell hctweon $7 billion and $8 billion of new securities for 'cash. Now for business. The trend is ihigher. And earnings are improv- Celebrity Named In Custody Suit LOS ANGELES (API A pro jected ocean voyage by screen ac tor Sterling llayden has brought! custody of his children into dis pute. Custody of the four children was not settled when the couple was divorced in 1955. They have been living with their father, but Mrs. Betty Ann llayden has presented an affidavit saying she learned thai llayden planned lo take the children on a long sea voyage without her consent. She asked Ihe court lo settle the custody issue now and a hear ing was ordered for Sept. 16. ing. Standard & Poor's cstimatej that for the December quarter corporation income will be run ning at an annual rate of $3.25 a share or more against $2.75 for the second quarter and $2.71 for the first quarter. For 1958 as a whole. Standard believes it will go down as the poorest year since 1954 in cor porate earnings. Now, it finds the trend is up and the agency ex pects that the 29 per cent decline shown by the first half to be trimmed to a decrease of 15 per cent to 20 per cent for the lull year, with the final quarter ap proximating the last three months of 1957. For More Living Per Gallon See the Now MORRIS 1000' at Robin & Myers 1200 E. Main TU 2-5511 FACTORY CLOSEOUT! COLLAPSE KILLS SIX FOL1GNO. Italy (UPP A two utory addition to a building col lapsed here Monday, killing the owner of the building, his wife end one son and three workmen Toastmistresses Slate Meeting Mt. Mazami Toastmistress Club members will meet for a 6:30 p.m. dinner Thursday, Au-i gust 28. at the Willard Hotel. The opening will be given by Blanche Petroff. Eva Cook will give the flag sa lute; lexicologist will be Eva Mor- ey; ovaluator, Edna Howell: tim-1 er, Floy Johnson: topicmistress, Jackie Hibbard; toastmistress, Eu nice Bunnell. t The educational feature will he by Virginia Fuller. A round (able discussion on "Can We Afford It. Taxes?" will be held with Eva Cook, Reba Martz. Hope Brader and Doris Abernathy participat ing. A report on civic affairs will be given by Ellen Miller: advanced training by Leigh Fenning and Fanny Mae Thompson will be the analyst. Langell Valley Mrs. Amy John son, Lone Pine, California, and her daughters, Mrs. Russell Rich. Al berta and Mary Johnson, all of Bishop, California, are visiting Dependable Coverage MAYFLOWER AUTO INSURANCE Reasonable Rates VERN W. 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