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VAd., March 21, If SI The Newt-Review, koiebura, Ore. 11
sent installment credit to W
billion. But the president Of a lead
ing lender in thia f i 1 1 d the
C1T Financial corp., aaya that
the ratio of installment debt to
personal income is around 6 5 per
cent, while bark in 1940 it was
7.2 percent, lie contends this shows
that the nation's financial struc
ture is in no danger from the
volume of money that Americans
owe on the gacluets they are us
ing. Their income is sufficient to
justify it.
Tin? earnings of C1T last year,
incidentally, were $.10,787,698, and
were topped by those of only one
commercial bank, the giant Bank
THREE IN A MILLION Thai triplet calves art believed the first
ever born through artificial breeding. Fred Roberts of the Oregon
Dairy Breeders association says. Normally triplet births occur
about once in a million births, he added, Lila Abrahams is holding
two of the three-day-old calves, born on the Lewis Abrahams farm
at Corvallis. Ore. 1AP Wirephotol
Slf THI NATUIAlllll TMAIUII CHIIT COUICTION J
S. P. Co. Reports
Freight Moving
Record In 1950
NEW YORK Pt Southern
Pacific Co., set an operating ef
ficiency record in moviing more
revenue freight in 1950, measured
in ton-miles, than in any other
vear except the peak years o t
World War II, President A. T. Mer
rier reported.
Net ton miles (one ton car- ;
totaled 37,315,777,601, a gain of 12.7
percent over 1949. While revenue
passenger miles declined 4 4 per
cent in 1!K0. lotalini! 2.i.'0.821.ii(l6.
this traffic ran ahead of '949 dur
ing the final five months of the
year.
Southern Pacific transportation
system and solely controlled affil
iates hid a consolidated net in
come for 1950 of $54.27,774, equal
to $13 88 a share. This compared
with $32,675,618, or $8.66 a share,
earned in 1949.
Mercier said the system's net
railway operating income for 1950
amounted to a return of 4 percent
on net investment in transporta
tion properties, against 28 percent
in the previous year.
The report showed Southern Pa
cific put into service during the
year 95 die.sel locomotives, 4,118
freight cars and 119 passenger
cars. At the end of the year it
had on order 46 locomotives and
5.1 17 freight and caboose cars. The
1950 expenditures for new rolling
stock amounted to $75,70,031.
Total assets of Southern P a
cific Co., and transportation sys
tem companies, consolidated, in
creased $93,932,115 during the year
to an aggregate $1,854,220.85. To
tal long term debt increased by
$25,718,970, reaching SttU.799,740.
Tighter Curbs
On Credit To Fight
Inflation Loom
By SAM DAWSON
NEW YORK UP) Back of
today'a plea to bankers and ether
lenders to police their loans lies
a threat.
If they don't of their own ac
cord make it harder for borrowers
to build up speculative inventories,
the banks face almost certain gov
ernmanlal attempts to regulate
them further, in the name of fight
ing inflation.
One move will be to ask Con
gress to raise the ceilings on re-
i j i of America. It Eives an insight into
of each bank s cash. how b'K the buying on-tima Indus-
. , . , try has become.
A second move, and one the "'
banks will dislike even more, may pBHMiHHHHHHHHBMHMi
be to put actual curbs on the total
amount of loans banks may make.
That would put bankers in the
same sort of strait jacket as a
manufacturer whose use of scare
materials is limited.
These threats come at tha same
time that some Federal Reserve
officials are grumbling that pres
ent installment credit curbs aren't
high enough yet to hold down in
flation. Both the installment credit
companies and spokesmen for
banks are quick, however, to deny
that their policies have had as
much to do with bringing in in
flation as their critics in Washing
ton charge. The real culprit, if
there is one, according to the rredi
men, is the buying public itself
which took off on a buying spree
after the Korean war started.
The rush to buy on the cuff has
VA OFFICES TO CLOSI
WASHINGTON - W The Vet
erans administration has told
members of Congress it will close
72 Veterans administration contact
offices before June 30.
The VA said the offices to be
closed include:
Idaho, Lewiston.
Oregon, Klamath Falls and Pendleton.
R. D. BRIDGES
Savlnga Representative
Equitable Savings and
Lean Asi'n.
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