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.
Newspaper
SPOT ADS
are inexpensive
. repeated daily $1.1 6
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Excelsior Springs. Mo. Adv.
of" the-Associated Press.
The survey report of a 3.8 per
cent gain in production capacity
this year predicted an increase of
about 3.8 per cent lor paper and
about 3.9 per cent for paperboard.
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. Ft . . . reg. 579.95 . . . Bonus Day
ONE ONLY - 1959
FRIGIDAIRE
FROST PROOF
Refrigerator-Freezer
95
2-door
Model
Reg.
499.95
399'
ONE ONLY
s FRIGIDAIRE Imperial
Auto. Defrosting
Refrigerator-Freezer
95
2-door
Model
Reg.
479.95
349'
Special Bonus-No Money Down!
Manv Other Soecials! Hurry! Don't Miss
These Leap-Year Day "Bonus Specials" Monday Only!
While They Last
Yern Owens'
Cascade Home Furnishings
An Main
Phone TU 4-8365
P T. FROM FORMAL DRAPES
FftJWF Y Qto frilly tiers ... for
Jl 1 LCUCDV Alkir.OA DCkl
EVERY WINDOW
NEY'S HAS
UNLIMITED
Is
FANTASTIC PRICE FOR FLOOR LENGTH!
99
And these ore value-packed in every way! Heavy
weight rayon, acetate you'd expect to pay more
for fabric alone! 10 pinch pleats per pair! Deep
hems! 3 prints or solid color white, champagne, nut
meg, gold, green.
4'
pair
48 by 84 inches
iiiltf LLJJJ I
w;illl iifed
m immmmM
I si in n was r:t,irfe saw
PRISCILLAS WITH
WHITE FROSTING!
95
48xl inch
72x81
92x81 12.95
You'll say they're pretty
as your etched glassware!
Penney's ruffled sheers
of ivory Dacron(R) poly
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buy!
Wash 'n hang cafes, Fiberglass (glass fiber)
98
You wash and hang In 7 minutes!
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50 inches wide, 45 inches long 3.98
Valanc 54 inches wide 1.59
2
pair
SO inches wide
30, 36 Inches lonf
m'W''ti,'f 1 few,
AJv'-'B .'-X 'VUS ft
save! on taffetra!
RICH QUILTED SPREADS
995
SPECIAL BUY
Only through a buy like this . .
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RAYON AVISCOB)
PILE RUG
24x40 OQ
Inches J'O
27x48 inch 4.M
32 inch round 3.98
36x60 inch 9.9S
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