PAGE 8 C
HERALD AND NEWS. Klamath Falls, Ore.
Monday, Nov. 21, 1960
Trade, Gold
Hold Sway
In Business
By JACK LEFLER
AP Business News Writer
NEW YORK (AP) - Foreign
trade with its many problems
and vast opportunities held the
spotlight last week.
Business men and government
leaders were worried by the con
tinuing adverse balance of pay
ments the difference between
what this country imports and
what it exports, spends abroad
for military purposes and gives
away.
President Eisenhower, in a
sweeping order, took steps to cut
the outflow by about $1 billion a
year.
He ordered federal agencies to
pare their spending overseas and
to buy American when possible
in purchasing goods for shipment
to underdeveloped countries.
The President also directed that
the number of military person
nel's dependents overseas be re
duced by 248.000 to slow the
spending of American dollars.
Some 2,000 business men, in
dustrialists, bankers, importers,
exporters and government repro.
sentatives gathered in New York
. City to consider the international
trade situation at the 47th annual
National Foreign Trade Conven
tion.
They came up with these rec
ommendations: Creation of positive opportuni
ties for exports; closer examina
tion of U.S. expenditures abroad,
and use of discretion in extending
economic aid to other nations
On the home front, business
continued to struggle against the
cross-currents which have been
swirling for months.
An encouraging development
was a new high for personal in
come in October for the eighth
straight month. The Commerce
Department said it ran at an an
nual rale of $409.6 billion, about
$800 million ahead of the Sep
tember pace.
A survey by the National In
dustrial Conference Board indi
cated consumers , are planning
greater purchases of expensive
items such as new cars, furni
ture, dishwashers, refrigerators
and other appliances.
Industrial production remained
steady in October at 107 per cent
of the ID57 average.
Automobile sales and produc
tion figures looked good but the
heavy . inventories ' in dealer
hands dimmed the outlook.
New car sales for the first 10
days of November set a record
for the period, totaling 180.000
American models.' This was 2'A
. per cent ahead of early October.
However, the inventory of new,
unsold domestic cars reached an
estimated 913,000 on Nov, 1, a
record for the date.
Because of its big inventory,
.Chrysler . Corp. announced it
would shut down three assembly
plants for the Thanksgiving week.
Steel production continued to
lip, edging down to 61.4 per cent
of capacity from Sl.S last week.
Bethlehem Steel Corp. closed four
more open hearths at its Lacka
wann Works in Buffalo, N.Y. This
left 13 of 35 furnaces working.
Unusually warm weather in
many areas put a damper on re
tail trade, causing volume to fall
as much as four per cent below
a year ago.
But merchants were optimistic
In looking ahead to the Christmas
buying season. A survey showed
they expect sales to exceed the
record 1959 season.
Sales on New York Stock Ex
change this week were 13,9li8.844
shares compared with the pre
vious week's 13.742,858. Bond
sales this week were $24,710,700
par value, against $22,432,000 last
week.
Briefly around the business
scene: Ironrito announced plans
to put 5,000 automatic ironers in
coin-operated laundries. ... A
record $7,218,907,550 in cash divi
dends was declared in the first
nine months of this year on com
mon stocks listed on the New
York Stock Exchange. . , . Bell &
Howell Co. has developed an au
tomatic movie projector it says
will thread its own film, turn off
the room lamp, turn on the pro-j
Jcct lamp and start the movie, i
They'll Do It Every Time
Squatwell can blow his roof,
yelp out his wife, and wage war
on the &as co. over a$3 bill
LOOK"-! NEVER GET EXCITED
I'M NOT EXCITED NOWSPUT- I
TSPOT BUT HOW IN TACNATIOM t
COULD VOU BURN $352 WORTH
OF GAS IN TWO MONTHS? J
tU 'Jk, WHADDAVA DOM' WITH r
r- T rTLAUNCMlN& (,
.m. By Jimmy Hatlo
But he spent a voung fortune
building a barbecue on which so
far he's cooked six hamburgers
SAREN'T WE EVER COIN' V- e
TO HAVE ANOTHER JH0T TODAYA
BARBECUE.POP? SEIDLITZ
T'Zf&Z Qfl I'VE HAD A 1
VvyXVD 1 BUsy VVEEki
t fvPT rfPf-W V M TOO J
iW-r.c-SM 'fl -Thank
ANOATlPOP
THE HfflLO HAT TO
MHS.E.6UI3CKI4ARt)T,
93LAKEVIEWAVE.
Sixty Years Ago School
Site Was Fruit Orchard
The following is another In a
series of short sketches on city
schools prepared by their respec
tive teachers and principals.
Stock Market Is Over Its Election
Fling, Guessing Spring's Outlook
By SAM DAWSON
AP Business News Analyst
NEW YORK (AP) - The slock
market is over its brief election
fling and is back trying to guess
what business will be like when
spring comes.
What the new administration
will want to do and what it ac
tually will do will play a part.
But the market seems to be say
ing that a greater role will be
taken by business and consumer
forces. What the majority now
think, right or wrong, is that the
forces pulling the economy down
in the Inst six months or so will
have lost their strength in another
six and that spring or maybe sum
mer will find limes generally on
the upgrade.
What optimism this generates
among stock traders is pretty well
tempered just now by the pros
pect of continued dragging in
many lines for the immediate fu
ture. And for the long run there
is the growing tendency of con
sumers to spend more of their
money for services of all kinds
and less proportionately for the
goods that factories turn out.
The stock market's post-election
fling was relatively mild. For two
weeks before stock prices had
been rising most of the time.
On the day before the polling
The Associated Press 60-stock
price index stood at 211.8. The
day after the election it rose to
212.4 and the next day, Nov. 10,
to 215.5. Then it backed away and
alternately rose and fell, until on
Nov. 18, after eight days of post'
election trading, it closed at 214.3.
On a chart the whole process
would even out pretty much along
the rising line it had been taking
before the voters acted.
The Dow-Jones industrial index
of 30 slocks followed much the
same course. On Nov. 7 it was
597.03; 'Nov. 9 it rose to 602.25;
hit a high of 612.01 Nov. 10; fell
back and closed last week at
G03.5.
Some of the mildness of the re
action to Sen. Kennedy's election
is likely due to uncertainty as to
just what he will actually propose
and, more important, just how
he'll propose to go about it. And
there's considerable doubt that
the strong conservative bloc in
Congress would let him take any
really radical steps.
Today many stock analysts are
taking this tack: Stock prices have
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-By CLAY R I'OLLAN-
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DEC. 32 A
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been depressed because the econ
omy slackened off; but since the
decline of the last six months was
relatively slight, prospects for a
recovery fairly soon are that much
brighter.
At home the economy still has
to shake off these downward pres
sures: the hand-to-mouth inven
tory policy which holds new or
ders at a minimum; the over ca
pacity built into many industries
in the last few years: the conse
quent drop in plans for more
plant and equipment spending;
the still rising costs that crimp
profits because competition is too
keen for prices to rise at a like
rate; and a tendency on the part
of some consumers to wait and
see before spending much beyond
I he outlays to which they're al
ready committed.
Abroad the pressures are strong
and often unchartable.
They are both political and fi
nancial. The stock market tends
to react quickly to any marked
change in the overseas news.
JOSEPH CONGER SCHOOL
It is difficult to believe that just
before the turn of the century the
present site of Conger School was
fnut orchard. Joseph Conger
originally acquired this land
through a gift from George Nurse,
the founder of Klamath Falls.
Conger transformed the barren
land into an apple orchard. He
lived in the vicinity for many
years. Upon his death, the land
was left to the school district spe-,
cincally tor a school site.
Thus originated Joseph Conger
Elementary School.
In 1929 the ground work was
laid and by the end of the year
a six-room school was complet
ed. Florence Oilman was elected
Conger's first principal. Mrs. Oil
man is now principal of Fair
view School.
Through the years the school
has grown in size. It contains
three additional classrooms, a
cafeteria, two large storage
rooms, and a gymnasium with
well-equipped dressing rooms,
The playground is no longer
dirt surfaced but is paved with
blacktop and marked with play
ing areas.
Conger's teaching staff has in
creased from six teachers to 12
teachers and four special instruc-;
tors trained to carry on music,
art, health, and speech correction
programs.
The staff of Conger School In
dudes James Young, principal;
Jacqueline Murphy, Mrs. Betty
rrench. Mrs. Jennie Mills, Mrs.
Emily Priest, Mrs. Rosemary
Perry, George Marstcrs, Eldridge
Andersen, Mrs. Frances Wood
ruff, Mrs. Hazel Hallack, Mrs.
Alta Griffin, George McClary,
custodian, and Catherine Bur
nett, secretary.
mm mm mm RlHlHH MBMB mm
Tulelake Class
Picks Its Play
TULELAKE "Bull In a China
Shop," a three-act mystery-comedy,
will be presented by the sen
ior class of the Tulelake High
School, Friday, Dec. 2. Curtain
time in the gymnasium will be
8 p.m. T. R. Cox is directing.
The public is invited.
Ron Long will play the male
lead as Detective Dennis O'Finn
of homicide. Donna McBride, in
the female lead will portray Hilde-
gard, an elderly spinster who runs
a boarding house.
Other old maids will be Kris
Thomas, Linda Lewis, Mary Sura,
Ona Lee Terry, Linda Reimer.
Faye Adams is Jean Rodgeis, a
lady reporter. Bob Maharry, Kra
mer, Detective O'Finn's assist
ant; Fred Whitaker, Johnson, a
fingerprint expert; Don Oman and
Dick Olsen, stretcher bearers.
Although it was dedicated on
Feb. 21, 1885, the Washington
Monument was not opened to
the public until Oct. 9, 18R8.
Complete Satisfaction
at FLOYD'S BARBER SHOP
1805 Main - In Front of the Swimming Pool
ill; I "liVM i
II
FLAT TOPS A SPECIALTY!"
HOME LOANS
NOW AVAILABLE
Maximum FHA Insured Loans
EXAMPLE: Solci Price $12,000
Mortgage $11,600
Down Payment Required .... $ 400
If you are a home BUYER or want to SELL
your home, you should contact our Local
Representative,
PAUL McATEE
339 E. Main Phone TU 2-4646, evci. TU 2-5935
COMMERCE INVESTMENT, INC.
Portland, Oregon
J :
rfMMSDCQTl
HI W SAFETY
BUILT-IN DUPLIX 0UTUTS
' BUILT-IN AUTOMATIC THERMOSTAT
FULLY INCLOSED ILMtNT
NOW Cavalier Baseboard Model CBB-F
hai Thermal Cut-out which automatically
ihutt off if overhealedl Positive safety
cannot overheat to a danger point.
The only system ever discovered that putt
the heat where It belongs
ot floor level. Ask for
details tadayl
nut unit ,
uicuiMun
SHAFFER ELECTRIC kt
1870 Se. 6th Town 1 Csuntry Shopping Ctnrtr
"I m etactaic keat k tamei I klU kmu k tkli
damp climate it U tke tyjie kcat rwit people cult jh..." 8
g WILBUR C. LITTLE Contractor - Crescent City O
g FOR FULL INFORMATION ON SAFE, CLEAN, ECONOMICAL 8
g ELECTRIC HEAT. VISIT A CALORE ELECTRICAL LEAGUE 9
i DEALER OR ELECTRICAL CONTRACTOR. 8
B&B RADIO & ELECTRIC
316 S. Sixth - TU 2-4434 Q
EASTSIDE ELECTRIC io
433 Market Street TU 4-3184 ;o
HAHN ELECTRIC iH
735 Commercial - TU 4-3268 ;R
LEACH SERVICE COMPANY H
603 S. Sixth - TU 2-2528 'Q
JOHN M. OWENS ;8
ElTtrical Contractor Q
6840 S. Sixth - TU 4-8245 :R
SHAFFER ELECTRIC Sj
3830 S. Sixth - 2-5503 Q
STEINSEIFER ELECTRIC 0
2030 S. Sixth - 2-4080 Hj
S UHLIC ELECTRIC '
1026 Main Street -TU 4-5512 g
FAUSETT ELECTRIC Ex
Main Street - Tulelake - Ph. 7-2133 R
S TULELAKE ELECTRIC COMPANY
Main Street - Tulelake - Ph. 7-1411 fo;
VAN FLEET ELECTRIC S
2nd and Main -TU 4-4415 ;R
WIRF YOUR HOMf FOR MODERN. LOW-COST ELECTRIC HEAT i
ON COPCO'i WIRE-ON-TIME PLAN... MAKE BUDGET PAYMENTS :
AT LOW INTEREST RATES... ASK YOUR LEAGUE DEALER OR!
COPCO SERVICE OFFICE.
eat-by-Wir
(NOT FIRE)
The Herald and News
Soon Will Publish Its
oo
000
sunt
for 1960
The H&N Classified
Department Will Have a
for the person who places the
0
000
Who Will It Be?
(99,176 Want Ads had been
published on Thurs., Nov. 17)
50,000,000 Frenchmen can't be
wrong ... and 100,000 Want Ads
can't be wrong! To buy, sell, rent, ex
change, find or accomplish almost
anything the Want Ads do the job.
Telephone TU 4-81 11 or drop In
at 1301 Esplanade. A Want Ad
writer will be glad to help
you word your ad. Receive 50c
discount for cash, or for payment
within 5 days.
n n
fr 0
t