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About Herald and news. (Klamath Falls, Or.) 1942-current | View Entire Issue (Dec. 18, 1958)
HERALD AND NEWS, KLAMATH FALLS. OREGON THURSDAY. DECEMBER 1ft, PAGE 4 A Big Paper Profit Made As AT&T Splits 3 For 1 By WARREN BENNETT AP Business New Wrilrr NEW YORK I APJ A newshoy from Port Chester. N.Y., an Okla homa Indian princess and a Uni versity of California professor have one thing in common today a sizable paper profit on their clock in American Telephone & Telegraph Co. Directors of the world s biggest public utility recommended a 3- Christmas Gets Further From Christ By TOM HENSHAW AP Rellnion Writer Seems like Christmas, with its llreet corner Santas, its red, white and green window decorations and its carols, gets off to an earlier and earlier start each year. And, each year, it seems to get a little more brassy, a little more gaudy and little bit further from the true reason for its being the birth of the Christ Child. If you'te .been thinking those uneasy thoughts lately, you're in good company. The lay movement called "Keep Christ in Christmas" is still around and still pounding away at its annual, and often cmbar rassing, question: what are you doing about keeping Christ in Christmas? If you don't have the slightest idea what vou can do about it, the four-man Keep Christ in Christmas Committee has com piled a list of eight suggestions. They are: 1. Attend church services and bring others. 2. Join the crusade to give early emphasis to the true meaning and message of Christmas by urging the use of Nativity billboards and window displays. 1 3. Encourage and join outdoor singing of Christmas carols. 4. Arrange special Nativity tab leaux in cnurcnes ana scnnois. 5. Place a Nativity creche at the base ;o( your Christmas tree for your children, friends and re! atives to see and admire. 6. Buy or use "Keep Christ in Christmas seals. ' 7. Buy and send only religious Christmas cards and urge your friends and business associates to do likewise. 8. Make the Nativity story of St. Luke, Chapter 2, the central theme of your family's observance of Christmas. PTA NEWS ROOSEVELT SCHOOL Mrs. Ted Lindley's seventh grade Camp Fire Girls opened the No vember meeting of the PTA with the flag salute lollowed by a spritu al thought read by Mrs. Ernest Bishop. Mrs. Charles Joh'.ison reported that $014.85 turned in by the Ways and Means Committee and $125 from the school census program totals $1,039.85 net profit from the 1958 money making projects. Principal Gerald Clemens an nounced that the Christmas pro gram will be presented December 18 by students of grades fourth through the seventh. There will be no PTA meeting during December Mrs. Paul Buck, member of the State Legislative Interim Commit tee of Education, gave a report on education and post-high school education and suggested public education on the current problems facing the public in educational Circles. Fifth grade mothers served re freshmcits. 'CHUTIST Pvt. Ernest .1. Pennington, son of Mrs. Irene M. Pennington, 2933 Montelius Street, recently partici pated in a tactical training para chute jump with the 101st Air borne Division at Ft. Campbell Kentucky. Pennington, a cannon eer in Mortar Battery of the di vision's 502nd Infantry, entered the Army last January. The 17- year-old soldier attended Crane .Union High School. His wife, Joan lives in Hoikinsville, Kentucky Make It A A Large Variety Of Top Line Instruments- MUSIC LESSONS By Capable Teacher With 12-Yrs. Experience Open Evenings Till 9 Mon. thru Sat. KLAMATH MUSIC CENTER 515 E. Main Ellis Parker. Prop, and Teacher fnr-1 stock split and a 10 per cent hike in the dividend Wednesday. Its the first slock split in com pany history and the first dividend change in 37 years. Company directors said the split would strengthen the position of the company in obtaining large amounts ot equity capital needed lor expansion. They expect the split will widen the market for the stock. The proposal sent AT&T slock kyrocketing on the New York Stock Exchange. An avalanche of buying orders forced suspension of trading. When trading resumed hours later, the slock was up $23 at $225, breaking a 27-vear high. It closed at $223. un $21 on the day, on a volume of 110,200 shares. AT&T closed at $233.75. up $23.75 on the Pacific Coast Ex change. What does this mean to the newsboy, the Indian princess or the college professor? They prob ably won't take down their paper proins ny selling. They've held their AT&T stock five years or more. They are part of AT&T's 1.625.- 800 sharcowners. 1 his is the big gest corporate family in the world, greater than the combined total of owners in the three next biggest concerns: General Motors Corp., Standard Oil Co. (New Jersey) and General Electric Co These three are among the 812.900 little investors who have held 15 shares or less of AT&T stock for five years or more. If one of the trio, for instance. had purchased 10 shares at the 1954 low of $150 a share, it would have cost him $1,560, plus broker lees, in live years, he would have collected $450 in dividends. He also could have particinated in one rights offering to buy new stock and several rights offerings to buy convertible debentures at favorable prices. Or, if he didn't have the extra funds, he could have sold those rights for a total ol more than $H0 in cash. On 10 shares he could have col lected $2,230, less broker fees, at Wednesday night s New York c os ing price. That's a capital gain in live years ot $070. He probably wouldn t sell though. Because if he and the other stockholders approve the proposed stock-split at the next annual meeting on April 15. his 10 shares will become 30. And his dividends would increase from $90 a year on 10 shares to $99 a year on 30 shares. In recent years. AT&T stock generally has been around a 4'-i lo 5 per cent yield basis. Divi dends on the new stock will he $3.30 a share. That could put (he price in the range of $05 to $70 a share. . . In each of the past three years, AT&T and its Bell System have spent more than two billion dol lars for new construction. Since the end of World War II more than 17 billion dollars have been laid out for expansion. The major part of this has boon raised through sale of securities. The board declared expendi tures of this magnitude are ex pected to continue. If these large construction programs are to be continued, directors said, a broad er market for the slock is essen tial. In its statement, the board said ado: i inal shares resulting from the split would probably he dis tributed about June 1. The first quarterly dividend on the split shares will be made in July at the annual rate of $3.30 a share. That would be $9.90 a share on the old stock. LIGHTING CONTEST MAL1N People in the Malin area are reminded lo get their outdoor Christmas lighting done in lime for the annual lighting cutest to be judged Monday evening, De cember 22, starling at 7 o'clock The Malin Chamber of Commerce will award cash prizes in each of four divisions, door or entry way, window, over-all or lawn display and outdoor tree. The contest i: being carried on by the Malin Garden Club and judging will he done by people outside the Malin community. Malinilcs arc asked to call Mrs. Philip Blohm, Mrs. Joe llalousck or Mrs. Robert Ryrne to nave tneir Home included in the route of the judges. A Lasting Gift Musical Gift For Accordion 10 f f Annual Christmas Lighting Contest Check one or more) ( ) roof ( ) lawn ( ) porch ( ) window Name - Address Telephone mail to: Javcees Musi be postmarked no later P.O. Box 4117 than midnight, December 20. Klamath Falls Light display 8 lo 11 p.m., December 21 and 22, for judging. Red-U.S, Talks Possible As Soviet Aide Seeks Trek WASHINGTON (AP)-The pos-. sibility of high level Soviet-American policy talks here opened up today with a report that Deputy Premier Anastas I. Mikoyan would like to visit Washington ear ly next year. Mikoyan is in the inner circle of Kremlin leadership close to Premier Nikita Khrushchev. The Slate Department has de clined comment but the Soviet government was understood to have approached the U.S. embas sy m Moscow about arranging tne trip. Mikoyan s immediate purpose would be to visit Ambassador Mik hail A. Menshikov. It would be his second visit to this country. His first was in 1936 as head of an industrial survey group. The United Elates, some inform ants said, has not yet made a de cision. But ndications were that it would agree lo the suggestion. President Eisenhower proposed last February that leadivig Soviet personalities should come to this country and rid themselves by Salesman Hurt In Car Crash LAKEVIEW Suffering serious injuries but ott tne critical list at the Lakeview Hospital is sales man Lon Penney, whose car left (he highway on Quartz Mountain about 11 o clock Friday night. Penney was returning to Lake view from Klamath Falls aw, wjs thought to have gone to sleep at the wheel. His car rounded a turn and kept on in a direct line across the highway hitting a boulder and a tree on the left side of the road. The car was almost demolished but he was able to crawl away from it, although badly injured. Three Lakeview men on their way home saw the lights of the car and investigated, finding Pen ney after hearing moans. He had lain there (or several hours. They arrived with him at the hospital at 3 o'clock Saturday morning. He is sullcring lrom a broken leg, and leg and lace cuts. Nearly one-half of the timothy seed raised in the United Slates comes from Iowa. FLEURS DE ROCAILLE Artfully Caron combines wist jul nets and witchery in this delicate scent that he speaks the haunting fresh ness of fragile rock garden lowers yet leaves an afteruhisper of startling sophistication. EXTRACT 11 In 65i LOTION f 10. 9th ond Main Your Child - Guitar SAIL first hand ' observation of false conceptions which Eisenhower said they have about the United States. Presumably if he came here, the 63-year-old Mikoyan would be prepared to discuss a wide range of outstanding disagreements and tensions. But the belief here is that his main interest would De to pro mote greater trade. In a letter lo Eisenhower June 2, Khrushchev said such trade could be built up to a volume of several billions of dollars wilhin a few years. But he said to achieve that volume it would be necessary for the United States lo grant long term credits to the Soviet Union. Secretary jf State Dulles later remarked that Khrushchev has "declared economic warfare on us . And now it looks as though the Soviet Uniop wanted to get credit from us so that it could more successfully pursue its eco nomic warfare against us. There was speculation the question of top-rung visits between Russian and American leaders may have arisen during an eight- hour talk Between Khrushchev a'.id Sen. Hubert Humphrey (D Minn). The two met in Moscow on Dec. 1. and Mikoyan sat in ii the talks for about an hour. I NO MONEY DOWN Ho Interest or Carrying Charge PAY ONLY $1.00 A WEEK Experts Opinion Varied On New Year's By L. A. BROPHY AP General Business Editor NEW YORK (AP) You can count on being belter off in 1959 than in 1958. Economists are not agreed, however, on how much belter off. The recession is over. Recovery started in the spring of 1958 and continued at a steady pace until fall. Then, the economic indexes began to slow up over the rate that had been predicted. Reading these figures as a lever chart, it might be concluded the patient had a slight relapse. How ever, the economists say he is in good shape and that full recovery will come by the end of the new year. Your situation in the new year shapes up something like this: Court Records KLAMATH COt'STY DISTRICT C'OI.'RT Paul Rniier Hawk, taking and using vehicle without consent of owner, pre liminary hearing held: non-sufficient evidence to nold defendant to grand Jury: released; bond exoneretrd. Eddie Ernest Anderson, no PUC per. mlt. $25 forfeited. Yvonne Jackson, driving suspended period. $75. William Alvln Williams, axle over load. 120 forfeited. Kenneth Robert Bailey, fall stop at stop sign. $3. Judy Yvonne Coxen, violation basic rule. $7.50. John Harold McAlpine, no opera tor's license, 5. Ardie Dave Alexander, violation bas ic rule. $10. Joseph Vernon Mcyrlck, obscured rear vision. $7.50. Carl Victor Johnson, reckless driv ing. $75. John Frederick Kissling, fail yield right of way. $5. Barbara Hester Carnini. violation .basic rule. $10. Lnnnie Banks, no PUC permit, $25 forfeited. William Roy Dossey. passing ' insuf ficient clearance. $7.50. Helen Juanita Cheyne, violation bas ic rule. $10. John William Carswell, no head lights. $5. George Arthur Allen, improper muf flers. $5. Earl Leroy Mosier, no PUC permit, $15 forfeited. Glenna lone Walker, violation basic rule, $7.50. To the nearly four million out of jobs, the immediate prospects for a resumption of paychecks is not bright. There probably will not be a measurable cut in unemploy ment until the middle of the year. There are several reasons for this. Automation in industry is go ing ahead at such a last clip that fewer workers are able to turn out more and more products all the time. While the economy is steady and oing iorward, the kind of produc tion that will enable extensive re hiring of workers, is not expected to come until about mid-year. If you are selling things, the prospects are brighter. Consumer buying was maintained during the recession and constituted one of of the really comforting aspects of the downturn. The indications are that people will be in more of a buying mood in 1959 than in 1!)58. Personal income is expected to increase and, in point of fact, it rose for seven straight months, beginning in February last year, but declined slightly in October. Labor disputes in some major in dustries were held responsible for the dip. The National Assn. of Manufac turers said three out of every four businessmen in a national poll ex pect their company sales to be higher in 1959. People fear, further inflation which may have a softening effect on buying. But. government econ omists are hopeful that the price lines will hold relatively s steady for the first half of the year. After that, if the momentum of recovery continues as expected, price in creases are expected. The University of Michigan, which does a good job of anticipat Rummage Sale! All gift items ond merchan dise must sell by Christmas, 2804 So. 6th St. ing consumer temper, reports its latest poll showed more families now say their financial situation has improved; they have hopes tor higher income and a better year in 1959 all around. The gross national product, the mm I COULDN'T BE MADE BETTER! It i I GUARANTEED to DELIGHT you. Prospects total of all goods and services, li expected to reach 460 to 470 bil lion dollars in 1959. It was around 450 billions at the end of 1958. That pretty well tells the story of what's ahead for the new year good times but not boom times. . XJV 837 MAIN Phone TU 4-3360
