The news-review. (Roseburg, Or.) 1948-1994, December 01, 1961, Page 11, Image 11

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    Silver Is Back In Spotlight Now,
Maybe More Than In Bryan's Day
By SAM DAWSON
AP Buiiiwii News Analyst
NEW YORK (AP) -Silver-a
commodity or a backing (or mon
ey? And what price silver?
Today the metal i under a spot
light perhaps nore intense than at
any time tine the days of Wil
liam Jennings Bryan's cry fur
1610 1 status for silver. .
As a commodity, silver has been,
K't-iermK on ine ease ot snort sup
ply. Miners say its official price
has been loo low to encourage
sufficient output, I'sers wanted
the price held down.
As a backing for paper money
it supports some S3 billion of pa
per currency, all $1 bills and some
$2, $3 and $10 bills, known as silver
certificates, and it circulates as
coins.
President Kennedy has ordered
the Treasury to stop selling it at
a pegged rate of 91.5 cents an
ounce. He also wants the silver
certificates replaced gradually by
Federal Reserve notes now (he
most widely used form of folding
money.
That makes miners happy, and
many others in states where min
ting activity may perk up. It
makes users unhappy, although
many agree it seemed inevitable.
Washington Closes
Trade Stamp Hole
OLYMPIA (AP)-Vhat some re
tail stores thought was a loophole
in Washinffton's 10.13 i r m rf i n a
stamp law was closed shut by
State Atty. Gen. John J. O'Con
nell Thursday.
Apparently some Spokane coun
ty merchants are giving out trad
ing stamps and telling their cus
tomers they can redeem them for
merchandise in neighboring Idaho.
In Washington, trading stamps
redeemable in merchandise can
be issued only if merchants buy a
$6,000 annual license. The stamps
can be redeemed in cash only if
the retailer doesn't obtain the li
cense. There is no such restriction in
large redeirptior stores where
the stamps are redeemed. If thev
are issued in Washington and
turned in for merchandise at an
Idaho redemption store, the Wash
ington merchant must have the
S6.000 license, the attorney general
said.
His opinion, Issued for State Sen.
John II. Happy, Spokane Repub
lican, said "the legislature must
have intended that any retailer
who issues trading stamps with
the express direction to his cus
tomers to redeem them for mer
chandise outside the state should
be subject to the licensing provisions."
Some silver dealers here lay
the price might jump above SI an
ounce, now that the Treasury Isn't
selling it at what they call bargain
rates.
Commercial use of silver has
been (rowing while production of
silver has been dropping.
It goes into jewelry and silver
ware. But use has been toarina
for photographic film and elec
tronics equipment, for use in mis
siles, in organic chemistry, even
food preservation, and for electri
cal circuits in such appliance! as
TV sets and radios.
Higher metal prices could in
time affect the retail prices of
such items.
Supplies have grown tighter be
cause much silver output was
closed down, miners saying they
couldn't operate profitably at the
legal price SO.S cents an ounce
the Treasury paid for their metal.
The gap between demand and
supply in this country has been
bridged by the U.S. Treasury sell
ing part of its supply. At the stait
of the year the Treasury had 123.S
million ounces not tied up as back
ing for currency. The steady com
mercial demand haa whittled that
down to 22 million ouncea.
Now commercial users must
look to the world market where
prices seem bound to rise, even if
they fluctuate widely for a time.
American silver producers and
those in other lands contend that
the expected higher price for the
metal will start up production in
mines now idle.
With mora production, they ar
gue, the metal will come back to
adequate supply and the price will
be stable.
Big users aren't so happy. East
man Kodak uses nearly 28 3 mil
lion ounces a year to make silver
nitrate for its films. It has tried to
build op a stockpile, wishes it
could have got more.
Some users are philosophical
about it. At the rate the Treasury
stockpile was dwindling, there
wouldn't have been much left in it
anyway, even if the President
hadn't acted.
Eugene Railroad
Fireman Honored
PORTLAND (AP) A railroad
fireman who snatched a baby
from death in front of a train at
Eugene in September Thurs. was
named Fireman of the Month by
the Brotherhood of Locomotive
Firemen and Englnemen.
Ceremonies were scheduled at
Eugene today to honor Donald D.
Hambleton, Portland, who leaped
from the cab of a locomotive at
Eugene Sept. 19 and rescued
Danny Zybark, 2, who had wand
ered onto the tracks. The train
was moving slowly enough for
Hambleton to outsprlnt it.
avr ,"
7 If Ak
"V a"
SHIP'S POWER CENTER The care ef the nictor aboard the Nucltar
Ship Savannah la laid open as the Atomic Enorgy Commission prepared to fuel It with radio
active fuel at ahipyarda in Camden, N. J. The loading will bo done In utmost socrocy.
New Timber Tax To Hit Other Land Owners
SALEM (AP) A new tax on
Western Oregon timber will mean I
less property taxes for timber in I
1962 and more for other property
owners. Tax Commissioner Paul
Linger has announced.
Timber's share of the tax bur
den will climb again in 1963,
Liniger said, but even then rev
enues will not reach the 1961
level.
Taxable Value Cut
The new timber tax law, passed
by the last legislature, reduces
the taxable value of timber in
Oregon by at least 16 2 3 per cent,
Liniger said.
In counties where timber forms
a major part of the tax base, he
said this will mean a major ahift
in the burden to other property
owners.
All timber less than 12 inches ln
diameter or less than 30 years
old is taken off the tax rolls by
the law, Liniger said. In addition,
he said, the law reduces the tax
limit from 35 to 30 per cent of the
assessed valuation, and in some
cases for old growth to 25 per
cent.
'Kicker Provision
A provision in the law provides
that the timber is taxed at 100
per cent of valuation in the year
it is harvested. This provision,
called the "kicker" provision, will
increase revenues in 1963 because
revenue collections will run a year
behind the actual harvest, Liniger
said.
Nevertheless, he said, the 30 per
cent limitation will hold revenues
down to below 1961 levels.
The law as proposed as a tim-
Reds Say Pentagon
Agents Of Business
MOSCOW (AP)-The Pentagon
and U.S. Defense Secretary Rob
ert S. McN'amara have been de
scribed as agents of big business
by Red Star, official newspaper
of the Soviet army.
The story was topped by a car
toon showing a Ford automobile
carrying a monster moneybag.
McMamara was riding on a fen
der. He was a Ford president be
fore becoming defense secretary.
The article said the defense
secretary is "one of those rep
resentatives of American imperi
alism wno set fashions in military
propaganda, in fanning arma
ments drive."
lie rages at the Soviet armed
forces and is frightening Ameri
cans with the danger of a Red
offensive."
No reason was given as to why
the article was published at this
time. The story was crested by
letters one inch high saying:
"The Pentagon Is a Tool of the
Monopolies."
ber industry compromise by the
Industrial Forestry Association.
fcpokemen for the association
saia m Hearings the Ia- was ri.
signed to produce about the same
amount of revenue as in I960
wnen me limit was 30 per cent.
The 35 per cent limit was es
tablished by the tax commission.
Assessors Issue Warnings
Several county assessors al
ready have issued warnings that
they expect property taxes in
their counties to go up because of
me new law.
An estimate for Columbia Coun
ty, where a high percentage of
umDer la Delow 12 inches in d a-
meter, indicated some 40 per cent
of the county's timber will go off
lax roils.
Nobody was willing to say what
the new law would mean in In
creased milleage in any taxing
district, but assessors Harold
Domogall of Marion countv and
Al Brown of Linn county said it
was expected, to be considerable.
"It Is safe for me to assure
everyone in Linn county," Brown
said, "that taxes will raise next
year."
CT """J 1 '"' "e. I, 1 961 Th Nwi-Revitw, Rsseburg, Or. 11
PffisteajVlutiny On The Bounty' Billing
May Surprise Audiences In U. S.
By BOB THOMAS I "A whole year of my life I
AP Movie-TV Writer have given to this blankety-blank
HOLLYWOOD (AP) When-I picture." he complained, "and for
and perhaps, if-"Muliny on the,1"'- I iht aa well be an ex
Bounty" is released, American j tra."
audiences may be surprised by Harris was assured by a fellow
j the billing. member of the company that his
ine stars oi me nun win oe was ine mosi sympameuc roie in
listed as Marlon Brando, Trevor' the mutiny, that he still has somo
Howard and Richard Harris. I magnificent scenes in the film.
You might well ask, who Is j that he would probably draw the
Richard Harris and what is he best notices of the cast.
Larry J. Kuester, I'SMC, son of
Mr. and Mrs. Oswald A. Kuester.
Rosehurg. flew his first solo fliiiht
in a T-3IB Mentor trainer recent
ly at Training Squadron One,
NAAS Saufley Field, Pensacola,
Fla.
Barney E, Belcher. I SN', husband
of the former Betty Aynn Forhan,
formerly of Roseburg, has been
promoted to quartermaster first
class.
Hugh R. Copeland, Army spe
cialist 4. whose grandfather, Alva
B. Copeland Uvea in Oakland, re
cently participated in Exercise
Brandy Wine, a field trainging ex
ercise involving some 26,000 troops
in uermany.
Leonard D, Olson, USN. son of
Mr. and Mrs. Leonard D. Olson. "Bounty" set, he appeared neith
Drain, recently participated in aler bright nor brilliant. Ilia oring
large-scale Navy and Marine Corns ey hair was straggly and shoulder-
training exercise off the coast of length. He had a three-day stub-
doing in such fast company
To English audiences and his
shipmates on the bounty, the
questions are unnecessary. They
know him as a brilliant actor,
one of the brightest of Britain's
new crop.
When I railed on him at the
southern California.
Ron A. McEntlre, seaman.
rSN, aon of R. A. McEntlre, Rid
dle, is serving with the staff of
Seven at the Fleet Anti submarine
Warfare School, San Diego. Calif.
Bruce E. Jameson, I'SMC. son
of Mr. and Mrs. J. W. Jameson
of Winston, is scheduled to com
plete four weeks individual com
bat training soon at the Second
Infantry Training Regiment. Camn
Pendleton, Calif.
Bert W. Watson, USN, son of
Mr. and Mrs. Charles C. Watson
of Elkton, is presently serving his
second year with Mobile Construc
tion Battalion One in the Antarc
tic. Watson is in charge of con
struction of new building and re-
electrification of McMurdo Station.
ble on his face. He wore ill-fitting
denims and well-holed sweat sox.
He felt as bad as he looked.
The reasons: 1. His wife had re
turned to England over the week
end: 2. Rumors were rife that
some of his best scenes would be
cut in the post-production surgery
of the movie.
Harris brightened somewhat.
You may have guessed that
Harris is Irish. He has a fare
which he describes uncharitably
as looking like "six miles cf back
road." Actually, it is strong, broad
and faintly handsome.
Like many an Irishman, he
went off to London to seek his
fortune. It was slow coming. But
after an apprenticeship in reper
tory, he clicked with a year's run
on the London stage in "The Gin
ger Man."
Harris has been stuck on the
Bounty for more than a year and
is now doing retakes. "Don't ask
me when it will be over," he
said wearily, "because nobody
knows."
Man Dies After Saving
Newsboy From Canine
KANSAS CITY. Kan. (API-
Clarence L. Fisher, 69, a semi
invalid rescued a newsboy from
the onslaughts of a dog recent
ly. Then, he collapsed and died, j
Fisher, who hadn't been able!
to work since 1943 because of a I
heart ailment, picked up a stick
and ran 50 yards in response to
cries from Earl Edward McDa
nel, 14. The dog nipped the boy
on the hand and shredded his I
newspaper bag. Then, it turned
and chased Fisher back to his
house. Fisher collapsed.
The dog waa captured and will
be tested for rabies.
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Pictures . FROm 4.95
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Living Room Suites .. 199.50
Cedar Chests . .... FROm 69.95
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Occasional Tables FROm 12.95
Dinette Sets FROM 89.50
Swivel Rockers FROM 79.50
Hassocks . FROM
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Plaques FROM
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Pillows from 2.50
Bedroom Suites ... from 129.50
BUY NOW FOR A MERRY CHRISTMAS
PAY DURINC 1962 ON A BUDGET ACCOUNT
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