Press-Courier from Oxnard, California • Page 3

Todays Markets United IntmurtioMl Dow-Jones 2 p.m. stock averages: 30 industrials 510.13, up 091: 2t) railroads 132.45, up 0.02; 15 Utilities 79.30, up 0.06, and 65 stocks 175.37, up 0.22. Sales were 2,470,000 shares. NEW YORK Stocks held in a narrow, irregular rijnge In early dealings today with only a few individual spe cialties as much as uoint either way. There were gains of a point nr so in Continental Steel, Murray Georgia Pacific Corp, LOS ANGELES JOT Citrus: Grapefruit, lemons and orang es unchanged.

LOS ANGELES (UFD Llvc- Cattle salable 250. Very limited supply slaughter steers, heifers and hulls. Fully steady. Cuws less active than earlier this week, about Steady. Others ab sent.

High-good and 1 choice DO lb steers 25.50; choice heifers 24.50. Calves salable 10. Good to choice slaughter calves steady at 26-2D; untested otherwise. LOS ANGELES Dairy: Eggs: Consumers A A large 4B-05, AA medium 51-55, A medium 47-51, A small 34-37. Receipts: Eggs 12,300, poultry 1RS.D00, butter 105,000.

Too Late To Classify Woman Wanted llaom maid. Permanent iiuslMarj A.M. to 1-30 P.M. days a week. Apply, II'J Miscellon'us for Sole 16 Dutrit, 54: spring mattress, Hornet for Sale Prktnd rpduued S1S.500.

4 bdr bdrm. hause, close topping cenLcr. Full price Autoj for Sale Nash Rambler hardtop. Good Your Money's Worth; US. Bonds Gyrate Br ByWU rotter On Nov.

12, 1957, the 12 men who make up the Federal Re serve System's Open Market; Committee and who, by their decisions on monetary policy, control trie supply oi money and credit to our entire econo my, met in utmost privacy in Washington, At this meeting these who wield more financial power In our land than anv other group concluded the business decline was fact, and agreed ir.at tne anu-lntiatiort tight money policy they had pursued aggresively since 1955 should be iibandotieji and replaced by an anti-recession easy money policy. Late Thursday afternoon, Nov. 14, the Federal Reserve Board began loosening the reins on credit by announcing it had approved a cut in the rate the system charges its member banks for loans. This rate discount rate is the foundation of our Interest rate structure. Wild Rise Following-, at announcement the U.

S. Government, securities market look off on what became, in coming months, the sharpest, fastest price upsurge in all history. In rapid succession between November and June the Central Bank took immense steps to easy money, thereby to re-stimulate business. It released billions of dollars of new lending and Investing power into the banking system by twice reducing the percentage of funds the banks must freeze against deposits (known as reserve requirements). The Open Market Committee fed more billions into the system Sale by buying huge amounts ofU-S, Government securities in tin market (open market opera tions).

The Reserve Board cut the discount rate three morei times and literally forced all other borrowing rates into spectacular plunge. And th board lowered the credit bar riers in the stock market (mar gin requirements). As each move was made and credit became abundant and cheaper, the U. S. bond market zoomed higher and higher and pulled all other bond mar kets up too.

A new 3 percent Treasury bond sold at 100 November, for instance, nit in the spring a profit of per $100,000 in a few months! And in the U. S. Government most individual trades into hundreds of tnousancs -md millions. As the Treasury's new secur- ties rocketed in price, nimble insiders and. fringe speculators rushed in to ride the tioom or margins as thin as 2 and 5 per.

cent. (A speculator who bought that. 3 percent bond In No vember on a margin of would have more than tnpleo his stake by April.) And," as money eased me mortgage market opened up and laid the base for the current rebound in housing. And munici-Dai. state and corporation proj ects which had been shelved because of lack of cash i vived.

Picture Changes Then, In May, the business statistics started brightening perceptibly. Even as profit-diz zy speculators, were scrambling to buy more new U. S. bonds in early June the economic-mon- pacJigroumi was snimng. In those weeks ths 12 men 4 New Stores Mark Opening In Shopping Center Arcade Four new stores in the Oxnard owned by Ceci! and Nena Tucker Super Shopping Center will celebrate their grand, opening tomorrow in the newly-completed arcade.

The stores are Wayne's Jewelers, Arcade Flowerland, Avila Shoe Repair, and Arcade Barber shop. Owner bM Serin or wayue Jewelers moved here from Los Angeles. He has been in the jewelry business for 29 years. Jewelry has been the family business for over 50 years. Arcade Flowerland is who have operated the White side Florists in Oxnard for the past three years.

Mrs. Tucker announced that they would be giving free orchids to the ladles tomorrow. Ylario T. Avila, owner of Avlla Shoe Repair, is a native of Ox nard. He has been in the shoe repair business since 1947.

James Bell, owner of the Ar cade Barbershop, has been in business-in Oxnard for the past four years as owner of the Top Hat Barbershop held mother meeting. They're not saying what they decided, but it's obvious that they agreed easy money had been pushed far enough, and as the economy recovers, the threat of a new inflation must be met. For, since that meeting, the Central Bank has kept money easy but. made it no easier. Since then stock margin requirements have been boosted back to January's level: And, since theh, the inflationary implications of the vast U.

S. deficit in the com ing year have hit the markets too. And, since June, the IT. S. Government securities market has been in a perpendicular slump matching the worst ever seen.

Obituary William E. Ralston Funeral services for William Eric Ralston of Ventura will be held at 2 p.m. tomorrow, Mr, Ralston was killed Aug. 9 in an auto accident in Canada. He was horn Apr.

10, 1940 at Oakland. He moved from Oakland to Ventura 15 years ago. Mr. Ralston Is survived by bis mother, Mrs. Velma Lane, his father, William C.

Ralston, Vancouver, British Columbia, and two grandparents, Mrs. Jeanette JRalston, Oakland, and Mrs. Mary Ray, Marion, Kan. Griffin Funeral Home, Cam-arillo, is In charge of funeral The Rev. Dr.

Thomas Orice will conduct services. Private cremation will be. held at Ivy Lawn Cemetery. Lillie A. Meek Funeral services for Mrs.

Lillie A. Meek, 626 Bard street, Fort Hueneme, are scheduled for 2 p.m. Friday at Reardon Brothers Mortuary, Mrs. Meek died at 11 p.m. Wednesday in a local hospital after a lingering illness.

She was born May at Belleville, Ark. She had lived in Port Hueneme for the last 16 years. Survivors include her husband, Jacob; three sons, E. L. of Pensacoia, J.

C. of Tala-hasee, and J. A. of Oxnard; a daughter, Mrs. Lillian B.

Howard, Port Hueneme; 11 grandchildren and 6 Burial will be at Ivy Lawn Cemetery. enSational Two Big Days Friday Saturday If you haven't taken advantage of Lehmann's Picnic of Values during our Sensational Sale you are missing the year's biggest bargains, feast your eyes on the Slim Prices we have put on summer apparel and new fall merchandise for back-to-school and for the coming fall season. SHOP EVERY DEPARTMENT! FOR "BARGAINS A LA MODE" IN Suits Coats Dresses Sportswear Sweaters and Skirts Lingerie Robes Accessories Handbags Jewelry and Children's Wear. PLUS A Sensational Extra FINAL DAYS OF LEHMANN'S WHITE GOODS SALE Your Last Chance-Sensational Values Sensational Merchandise Sensational Prices Shop Friday Evening Till 239 West 5th Street STARTS FRIDAY PRICES OXNARD'S LARGEST PLANT SALE EVER WE MUST MAKE ROOM FOR NEW STOCK COMING IN. NEVER AGAIN WILL YOU HAVE SUCH AN OPPORTUNITY TO BUY THE PLANTS YOU NEED AT SUCH BARGAIN PRICES.

FRUIT TREES Evergreens Tropicals Shade Loving Plants Sun Loving Plants Flowering Plants Shade Trees Low Growing Plants Tall Growing Plants Cactus ROSES CAMELLIAS HEDGE PLANTS GROUND COVERS BEDDING PLANTS NEVER BEFORE SUCH SAVINGS no Finer punts Every Last Plant Is On Sale I visit nurseries alt over the store and om proud to soy that nowhere will you find such healthy flourishing plants as we have at Red Tag, Special feeding and special care make this possible. KRT LARSON Horticulturist for Red Tag Garden Center Sale Will Last All COME PREPARED TO SERVE YOURSELF, THESE ARE viveawuy rnces BE EARLY FOR BEST Door Prize Drawing Every Hour Last Week's Door Prize Winners 1st Prize $20.00 2nd Prize $6.00 3rd Prize $4.00 Call Nursery for Winning Names GARDEN (ENTER 1176 SAVIERS ROAD AT FIVE POINTS We Are Proud of the Part We Are Playing in the Beautification of Oxnard.