Pasadena Independent from Pasadena, California • Page 8

THt IHHHHNNT, SATUMAY, AOUJT 17, 1HT IQUICT, MIXED DOW-JONES NEW YORK STOCKS ISS ffiii Selective Issues Net Kftf Ay ffif tJS ca. o.m o.oa II Mich M.Ti M.U SUM Hub La-m LW GU. at? rid Abtntt 13 -ISii Bill GosmH, UHor TRAXhA, IONS I.S M1H t- -i trlii. IUIIl. 6Ufcj; It 61 r3.C.

AP Stlt Average 0 i 1 Sl3 fractions NEW YORK. (IMS) Selected: Si I3S Elmer Roessner Whot Sloct Moktl Did industrial and railroad issues; ta js is 1 2JS 'i tfIr 1 SJ4 9ti i Spaldms 1SJ1 llf, 15V 5i5 fi2 PROBLEM OF HEDGING 4r added fractions to little Ithan a dollar in a quiet ami) stock market Oil and aircraft issues generally firm and some Ac'. 33 isii Svi i r.V oa 7 "i- ib i3i ii 1 11 Ichemical and specially shares. A reader writes that I have alarmed him by saying jshowed improvement in the the purchasing power or trie American aoitar win pre weekend session. i.ii i 12 6 7 i 3'i 3ll 3U ,1 42 m3 ...7: 12a 4K'i las iss; 1 1LIU Si! 61? til 4- 1, 1 'j jgi ms jjj i 1 1 5 36 api.

5jjj a The Dow Jones industrial tinue to fall. That makes two of us, at 1 1 s): pr, iss added 90 cents, atop its uearnw Then he asks what he can do to protect himself (modest rise Thursday for Ihc Ife lit "first two-session sain this si! 37 It 37 i against further decline. have only a small income," he i It points out that the ptir- mih. Rails were up Svt cents, 'I '35 'Si z2, lii? writes, ''and I do not want to 'chase of these stamps withlbut utilities slipped 3 cents. cut down on eating or clothes! American funds will Rive these; Volume contracted sharp.

3 wearing. i Communist Governments much l.v to i.iiU.uw shares from ij; jis, the 2.010,000 pace of the past 11 10 ion 1014 At Ihe moment there hasjneeded dollars, been a swiri of statements and STOCK LEADERS L'l 101) 'I 35 1 Trading narrowed 1o 1096 1 sues of which 1G3 advanced, opinions in Washington and gg; elsewhere that inflationary! Suimlor Sti 4 J3U MS Mj 'i ihe first lime in seven sessionsj there have been more plus: sisus Until minuses. There were pressures have weakened and that no further decline in the value of the dollar is imme ml 359 of the latter yesterdav. avoids swjjir diate. Toppycock! The cost of living ros mm i 12 33 33'i 33i El 13 3nC 36 ouid 11 io-: lQii 7 11H 11 ti 1.

lj rt fi'-l 1 Ti, inu -r 8-sul 3" CiO 4 341; 33'i 34V, i 4li 43 4iS vis on 41 13- 13i 13S Analysts, however, expressed satisfaction that the market July, as figures will show when totted, and it will probahly rise had been able to avoid exten 1M i1 inunlh, too. A new sion of the costly August slump for a second session. Prices of wage rises and price rises has begun, Higher costs of hv were firm from the outset Traders were reluctant ti American ing'higher industrial prices and tend their positions in advance of the weekend despite such Stock Exchange higher wages simply mean a de cline in the value of the dollar And that's inflation. ii lavorable business news a incrense in the gross nat product and a report of higher national income. TP YOUR INCOME com from a private pension, an This was somewhat offset.

nuity or from insurance pay Twent Ctr. 11! jhowever, by a poor earnings report by Anaconda, which forced the stock down to co-; "l3 ISlj IS 1SH "i "7it 1957 low, and a second. f.r'M "11 lii jus ii 111 -1 cut this year in ihc dividend of 5r, Joseph Lead which prompted a luss of more than ments, there nothing you can do about it. You' can just take grim satisfaction in the fHct that you are one of the little fellows who are paying for the inflationary fireworks show. If your income is from Social Security, about the only thing yon ran do is to jnifi the clamor for higher benefits, which seem sure to come eventually.

OIL INVESTMENT Oscar G. Werner, Altaa'ena civic lender, recently opened a new investment firm, Oscar G. Werner Co. investments, in East Pasadena C7 III 7 jks as afe "IS llrJj i dollar. Chrysler whs feature most or the day, showing gum of nearly a dollar, but it ended only ft higher.

Boeing paced a firm aircraft list with a rise or about to specialize in independ. Cdifor- oil development is 15" i Jc.it i.r 1 lit; i ll -1 1 lit ft If yciur income conies from bonds or savings, yon aren't so bad off ir you are getting current interest rates. In the oils, Socony was ahead and fractional improve Inalc Vroi lnyaH ClE 3 ment: rum: r.ir sr.nnrl- ard, Texas Gull, Koyal ttpaunk 1 Banks and savings and loan associations have been raising their dividend; upward of 3 per STEELS ERRATIC eels finished narrmvlv cent with security is available today. If you are not getting at 1 i a MlF I 1 Hi III 1 Irregular with Allied and Amer- toil o'ia it addi'ir a bout's VS iSv 8-: mv. 17 13'i H3-- il ii 7S ih 1 dollar apiece.

On the American Exchange, selective improvement was lEast that much, look around. Such interest more than offsets the depreciation of your capital. STOCKS, REAL ESTATE If your income comes from good stock and sound real I Zdts 5 iSlJ 43V, -tsi; masted with Pacific Ped-nlpum 1 'sa 3 Standard of Kentucky and In 1 Sir! 51 JlS 'ti a l. 1 sis estate, don't worry. Common stocks and real 40 ssu Ji ternational Petroleum each a dollar higher.

Bond trading was quiet with ii I II state generally move in price niue mange. Cotton, wheat, wool and lard in the same direction as the purchasing power of the dollar. They also increase with indus were improved, eofiee I 41 fi-rand Un 7 commodity trial," population and other 'f 3 i-t 7 'b l.rasi 85 5ISI i5oil iIS55 liSil economic growth factors. In fact, common stocks and real estate are the traditional ways hedging; Etrainst inflaHnn. MARKETS AT A GLANCE Vic CAE 6- POA NAMED BUYER r4 iiS H.

E. Hockenberry, of South Ever since we got nn flationary binge back Br T'i sl i t'n vi jus 71 3 the Posadena, has been op- Stocks i quiet trading, i Phi, lsdi, 30 real estate and Bonds irregular. tiau.f. slocks have moved generally t. pointed as buyer for houseware, china, and toy departments of Hertsl'i Department Store by Edward C.

Purnell, general merchandise manager. upward. But only generally. Many common stocks have turned P-Di-ill OH U.S. Government bonds higher in quiet trading.

American stocks irregular. Silver in New York 3074 cents a fine ounce, off Cotton futures irregular. Wheat to 1 cents hicher: Scurry Itak worthless; some real estate has fallen in value below the taxes owed on it Some imtprov nients aave deteriorated faster EMPLOYMENT corn was up to off Ti; oats than the dollar. Investing in common stocks HIGH IN STATE were oil -s to up Hi rye was off Vz to up IVi cents; soybeans were up U'i to 2W cents: and real estate as hedges i ioi ioiH 1 siih ees i 15 20ki 20ii against inflation usuallv re- quires expert advice, a shrewd JfcsPITE LAYOFFS and lard was up 12 to 25 points. 's! Hogs steady to 50 hitrhor.

lon i knowledge of conditions, and capital for emer- Employment in California 22.00: cattle: not enough of aiiyl' decreased slightly and unern- one c' 1sl gencies. toil top veaier j.n.W; sheep fully steady, top COTTON ployment increased in July. Ernest B. Vebb, director of Hie Stale Department of Industrial Relations, reported that civilian empioyment dropped io 5,606,000 in July, a loss 21.000 Irom June. The decrease primarilv re-sulleri from the effect of a building trades strike in Southern California and the iff -U' OVER THE COUNTER That's the vicious pari or inflation: The wealthy have the facilities and the lever- aje So hedge against it, It's the little fellows, with-! out guidance on where to put their money with maximum safety while they hedge, and the poor devils on lixed in-: comes who are picking up the' check lor the mad and wonder-' furbinze.

THE GOVERNMENT has warned slamp collectors rnrt dealers fhai bringing in Red China and North Korea post-ege stamps is illegal. The government, so says the Treasury, is not afraid thal: Americans. looking at a red-Red China stamp, will he hyp-: Hoiked into Communism. i CHICAGO GRAIN usual vacation layoffs of pui-lic school cmiiluyi'cs. Despite Ihe deciine from iiio kkiieij June, civilian employment 1 itouio was at ihe highest July total lJ1KXBff 1 on record and 3 iv silt per cent, above a year ago.

i in pipe i HM; v- 31 3114 3i ij his, however, was the smallest year-over-year margin for an month in the past years. 33 23 23 26i 2811 2 trHcMr(pliinti Drug 11 i 23ti 23 MUTUAL FUNDS Ml SI VUi Vljcctrudy 7 fiji'serv'xiir iSfe 17! l'' Tttilondfl Tile i-i 2 Si? 16U 1TJ- 31 3 4 2S1, 28-V, 1 ,5 rjemu inv fr a Rockmll MR isj Coiit Balilcis 9 KhopplnR Hat; UK lljj llfa sttiiriuf lit iai so run JS TrxvtWTA tlu S1 H4 So s'ii tlr.ion Ons Cont lu Iconl Vni 13 it pi ill rfe-iiir afe uliK. fails yell-v 1 midliim hBiTj wtllt.js.il: Mail. Crjnt Sll 2 CnCli Iits.1 1 rtSTKItN RAM(S Siihrbn i it fir im7nc.ivy unita 62-11-83: Ho. I jTnffii; nl fRE'ANS No.

2 J-ellDW 5 41KJ nn Nail Chi Kill S.W 5 l', Tr- Irv.n,- H' 31 Minifnctrn Tr 17 CITHUS EXCHANGE i in SSrUffi 7- Eiuliy Frl B.ss T.10 i 5U rirl Wmlrrn ha Ke-iie (fm h6 irnind umi ai ihh. if it f-ixinildri ItulB- T.Tfl K.in jm? WS runonuiU Inv lt.J( 11.01 isra.rM.:r LacXh 'Aire 41 33 PffCUl.