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About Herald and news. (Klamath Falls, Or.) 1942-current | View Entire Issue (Feb. 28, 1960)
HERALD ANT) NEWS. Klamath Falls. Pic Rundav. Fehrmrv ?R. mflft PACK R A 1 4 General Trend Of Market ge iii ,i--i,. V- A FLYING SAFETY AWARD was presented this week to Lt. Col. Carl H. Leo, right, commander, 322nd Fighter Interceptor squadron ar Mngsiey neia, oy Col. Jack William, The Flying Safety Award is presented to those organiiations under Western Air Defense Force who had an accident free year during 1959. Paperboard Industry To Increase NEW YORK (AP) Produc tion capacity of the nation's pa- New Charge Confronts Stereotyper PORTLAND (AP) - A I Indictment charging dynamiting oi newspaper trucks confronts a's S. McDonald, a member of the striking Stcrcotypcrs Union local negotiating committee, and s; ill more accusations against him are reported. The fresh indictment is a sub- dilute for one McDonald's attor ncy had attacked. The new accusations were dis a new weekly which is the official rewspager of the Portland lnler L'nion Newspaper Committee. The Reporter printed a story (laying two newspaper union men had "disclosed to authorities they declined alleged assignments to blow up trucks at a third firm the night of the newspaper, truck dy namiting" Jan. 31. The Reporter went on to ay it had learned from an unimpeach able source that the men's state ments identified .McDonald as having assigned them to do the bombing. They said dynamite was found buried on a Clackamas County farm where they had re ported it. According to the statements the two men were unaware of a bombing plan until dynamite was put in their car and they were in structed to plant it in trucks of the Johnston Brothers, a contract hauler for the Journal and The Oregonian. They said they refused I to do it. But that night, Jan. 31, 10 trucks owned by other haulers for the newspapers were dynamited. Four men arrested later aid Mc Donald paid them $400 to do it. McDonald, 52, whose union ttarted the strike Nov. 10 against the newspapers, was arrested and deniiyj gailt. In a series of motions his at torneys have tried to get the in dictment against him dismissed on grounds that it is faulty. Glenn Geurts, deputy district attorney, had the indictment dropped in a surprise move Wed nesday but quickly presented a new similar one from the Multno mah County grand jury, which still was in session. McDonald's attorney expressed the opinion the new one also is faulty and said it probably will be attacked. per, and paperboard industry will i slight increase in l!io Is In line increase 3 8 per cent in lo. a with the pattern in recent years trade survey reported Thursday.cwf a sharp advance followed by Benjamin Slatin, economist of the American Paper and Pulp Assn., said total capacity in place at the end of the year was expected to rise to 123.290 tons a day frum 1 1B.771T Inns at the end of lil.ifr In terms of the industry's historic 310-313 days per year of operation, this would raise annual capacity to 38,6!K,000 tons from 37,289,000 tons a year earlier. Slatin's figures were included In a report submitted to the APPA executive committee and board of governors. The report came as 5.000 dele gales lo the APPA's 83rd annual convention winds up Thursday night with the annual dinner, at which the main speaker will be Benjamin M. McKelway, editor of (he Washington-Star and nrpidoni a leveling off in subsequent years Robert E. O'Connor, APPA ex ecutive secretary, told the kraft Paper Assn., one of the associa tion's various divisions, that on the whole, the paper industry ha rcjson lor some suuMaiiiiai ieui ing of optimism Not Followed By Avera Bv K1..MER C. WALKER I PI f inancial Editor NEW YORK U'Pli The utility average, youngest oi me trio oi famous Dow-Jones market meas urements, now stands just about where it was when the Injure was born on Jan. 2. 1929. It started its hie at 8S.M. rose i a record high of 11161 on Sept. 21, 1929 and then slipped downward until July 8. 1932, when it set its low at 16.53. Since this average was born some 32 years after the indus trial Htui rail averages it isn t even considered by the followers of the Dow theory. That theory says a movement to be valid in the industrials must be confirmed by the railroad acragc. and vice ersa. But there's no mention of the poor orphan the utility aver age Market operators have come to regard the utility group as a de fensive set of stocks that are good to buy when the other ma jor groups are suflering from ri.i-n-ionnarv inflllpncps. Also lltll ities are suaposed to hi hurt more than other groups by infla lion since they more or less have their earnings fixed by edict of commissions, and they are sup posed to have limited growth nnlpntiaU. They haven't always fSlIowed the trend o( the general market In 1957 when industrials declined (78 points and raiK lost 56.27 ooints. the utilitiesclosed the year at a gain of O.Xa-fflite but a gain. In 1958 when the whole market closed the year on its highs, the utilities were right in line and did the same thing. They finished at 9100 up 22 A! points and a new high since June 13. 19:10. In 1959 this group moved up to a new high since June 10. law. at 9-170 and then slipped back lo lose the year at 87 83 off ,1 1 points Irom the 1958 close. Hails ost 3 60 points, wmle industrials inished the year at a record high of 679 36 up 95.71 points from the IS" cWfce. o Utilities ave found a champion in Frederick W. Page, partner in It W. Scligman i Co., Invest ment Bank, and vice president of l'ri-Conlinenlal Corp., closed end investment company. He holds as a fallacy the theory that utilities are hurl Itf inflation and insists the group contains many growth issues that oi.ldo some industrials. And. he Amies that the only appeal of utilities is their defen- ive characteristics. He presents figures to.. show- that an investment in the tri- CcMilinenlal utility portfolio al the close of tt)38 would have produced ;i much bigger profit in ah .a, .siin- FHH uiri"nnttlf- UT-ffie Dow-Jones industrials. He finds many utilities with growth, potentials greater than many industrial shares and he holds that in these cases 'he issues should sell at higher pi.ee earnings ratios. We feel." Page says, "that a utility with a growth rale of in per cent should sell at 25 limes earnings to be in line with the slower, growth rate companies. A IS per cent growth trend should eift fttpu? company to' a 35 times n'.io or belter on the same basis and when compared with indus trials." He believes there is room for a great deal more fanning out nl price earning., ratios as utilities are M;er understood, before the growth utilities become over valued. ! "I am confident that invest ments in this area will work out comparatively well over the next newears." he concludes. 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Largest , expansion in the next three years is expected in paper- hoard capacity i 6,460 tons on a dally basis), while paper capacity per day it expected to rie by 3,480 .'tons and wet marine board and construction paper and board capacity is scheduled to rise by 5So tonj per day. The gain of 3.8 per cent com pares with a prediction Wednes day by Peter W. Hoguct, presi dent of Econometric Institute, Inc. that demand for paper and paper board should increase about 2 per cent. He noted that demand rose 10 per cent last year and said the ' IMS HOAX SAVES LIVES MOBILE, Ala. (UPI) A bomb hoax may have saved the lives of 847 pupils at Azalea Road junior high school Tuesday. The pupils, marched from the building when a telephone threat was received, were outside when a plumber accidentally set the building afire with a blow torch. Damage was extensive. Why Pay More? LOANS Get thch you quickly and railly and tnjn.r Incil trv Ica mt low bink rai. florraw en reur itfnature, furnilura ar auto. Personal Loant Appliance Loans Auto Loans Boat Loans Borrow Thlp-Arnonnl Repay In 11 monthly Payment $200 12.53 $300 18.79 $400 25.06 $500 31.33 . I Ah BHIIK BO HLRmnTH FALLS . W South 6th & Klomat ll,mb,r .1 rmer.l Depnill InRurtne. Carpnr.lian PELICANA AUDITIONS Monday, February 29 ... . 6:30 p.m. Giifs Gym at Klamath DnionJfigh o School Bring costume I, mmie & accompaniment. If umber it suitable for orchestra accompaniment, bring on orchestration. Monday, February 29th Is Leap Year Day . . .that EXTRA DAY in I960!! Bonus Day Values for You . . . 6 ONLY Frigidaire Imperial 30" RANGE '59 Model - Has Everything! reg. 419.95 Sale 299.95 Less Copco Bonus 20.00 YOU PAY ONLY 279 95 Less Gonerous Trod-in Allowance 4-ONLY Frigidaire Imperial 40" RANGE Double Oven Fully Equip. reg. 549.95 Sole 399.95 Less Copco Bonus 20.00 YOU PAY ONLY 379 95 Leas Gancreus Trode-in Allowanca . . ...... niirii! itinrm At ONE UINLT - lyy TKIVJIUAIKC imrciMt. fm Frost Proof Refrigerator JftV 12 Cu. 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