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
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