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About La Grande observer. (La Grande, Or.) 1959-1968 | View Entire Issue (July 16, 1959)
gometEmq' to Crow f I K , II II 'M IA Ui "J ill, I Vi.-W MM iJ YYfVKJ On the occasion of our 20th anniversary in business the La Grande Fruit Company wishes to express its thanks and appreciation to the people of northeastern Oregon for their sup port and patronage of this home-owned and home-operated firm. The purchase of the many different food and refresh- ment items distributed by La Grande Fruit Company has enabled us to show a steady growth during our 20 years ... a growth reflect- ing the great increase in purchases throughout our area. To show our appreciation we are making available through your local grocers many fine specials in our products for the next 30 days . . '. July 16 through August IS. Be sure to look for these specials in your grocer's ads and in his store! Look For These Better Food and Refreshment Products At Your Grocer's During Our Anniversary Celebration . .-. July 16th to Aug. 15th MANY PRODUCTS WILL BE FEATURED AT SPECIAL PRICES DURING THIS MONTH-LONG EVENT! FINEST FRESH FRUITS & VEGETABLES Frozen Foods 'OREGON'S OWN" Frnils Vegetables Juices Poultry Berries WATCH FOR OUR FRENCH FRY SPECIALS AT YOUR GROCER'S DUR ING OUR ANNIVERSARY MONTH! REMEMBER . . . Flav-R-Pac Product Are ALWAYS Good! ' a iit inn II AMI F-r-e-s-h F-r-o-z-e-n POULTRY PRODUCTS : .... V - . Your grocer will feature Swanson's Chicken Breasts, Thighs and Drumsticks at SPECIAL LOW PRICES for the next 30 days! Watch for these features ' Swanson's products are just right for that backyard ' chicken-que! SEA FOODS You'll like your grocer's SPECIALS on Sea Pak Fish Sticks and Breaded Shrimp during our an niversary month! , THESE SEA PAK PRODUCTS ARE OF SUPERIOR QUALITY WITH A MINIMUM OF BREADINCI i Slock Up On Sea Pak Sea Foods At Special Prices! FINE BEERS BUDWEISER KAMI'S RAINIER BURGERHEIST ER AVAILABLE AT ALL STOkEi AND TAVERNS WINES ... GALLO CALIFORNIA WINES Chat. Krua Pramium Win Mumms Imported Champagne Meshumar Koshar Wines Mogen David Kosher Win HomeSiyle Froztri Pies Kutia Khan CtitteJe Jcctfj IN A WIDE VARIETY ' LOOK FOR YOUR GROCER'S SPECIAL FEATURES ON KUBLA KILVN COMBINATION CHINESE DINNERS DURING THE NEXT 30 DAYS! 0 Chet's Popular FROZEN PIES and CONVENIENCE FOODS An Oregon Product "THE FINEST QUALITY' ON THE MARKET' Introducing & Featuring BRADLEY'S NEW Lemon, Chocolate and Coconut Meringue PIES i THESE NEW-ON-Tl IE-MARKET FINE QUALITY PIES WILL BE FEATURED AND SAMPLED AT YOUR RETAIL GROCER'S DUR ING THIS ANNIVERSARY MONTH. Willison's Chip Steaks IT'S BETTER TICE 50c OREGON CENTENNIAL COINS found at random in half gallon contain of Centennial lc Craam and SILVER DOL LARS found at random in Pik nik Pak gallons of Jtwol k Craam, all flavors, at your groc trs during our Anniversary Month! CREAM in all popular and special flavors HALEY'S FROZEN MEATS WATCH FOR YOlTt GROCER'S SPECIALS ON HALEY'S VEAL, DINNER STEAKS THE NEXT 30 DAYS KRAFT FOODS CHEESES SPREADS JELLIES SALAD DRESSING Your Grocer Will Feature KRAFT MIRACLE WHIP July 16 Aug. 15 SAN JUAN and BLUE PLATE SEA FOODS CAMPBELL'S Frozen Soups Minute Maid FRUIT JUICES ROSARITA Mexican Foods 4 . 1525 Jefferson la gran DP UIT GO. m La Grande WO 3-2164 Observer, La Grande, Ore., Thurs.. July 16, 1959 Page 1Q Financial Circles Excited About The Taxes On Thrift By ELMER C. WALZCR UPI SaH Wril.r NEW YORK LTI- Taxes on thrift urv stirring up quite a bit I of excitement in financial circles these days. There are two of them one, now on the books, will gouge holes into the thrift of 120 mil lion Americans who hold life in- suruuee policies, und the other, oeiore ine House, would nit mu tual savings banks. The insurance industry's tax is estimated to jump from $3l!0 mil lion to a half billion dollars, an overall rise of 55 per cent. The bank lux aim among other things to equalize tax free reserves against bad debts for commercial banks an'l savings banks. The latter now have a sizeable advantage in this resii-t and assert that the change con templated would involve "punivo taxution of mutual thrilt institu tions." The Savings Bunk Association of the State of New York has with drawn from the America.! Bankers Association because the latter backs the proposed tax. Other savings banks may follow and so may the savings and loan asso- LECAL NOTICE STyonis or avncai. rrATEirrvr Wm 14 ul andtd Dacaaibaf SI, i ' -1 - AMERICAN UNIVERSAL INSURANCE COMPANY a TWldeaca. la Um Hum af Krle Mda ta um laurejkt tessKtuitxicf at im Ut at Ottawa, ttutiuant to U ADNlTTEO ASSETS Oa tad btutk aaaeeiU Ajtsu' aalaMat at UBcalsrt4 L. urea I. tltftdeadt and real mum Otaet iuu . si m li I.SSi.tC 12 Tatal swim It Lad iuu U AS! LITIS!. SURPLUS AMD THE! fUNOt Lataaf f ., H Lwm adjuttnaet HS.llvao I'uerMd prealuia - . tMi i' w Ail aiter lleiimtee. T.: i-'lU li Tatal llabllltlat. atrapt capital I ll.liSJ.'- W Cestui pate) up $l.l,ti.M I'CMllfrted fundi (uralual I.MMSS l urtilwa aa ragardi peUcybolderi... S S.llo s'3 n Taul I 3.u.:.W . tTATf MCNT OF INCOME S.7f iw n l.aat 40! II I iii mi it (U1.;T1 481 irr.tis m ii ell 1 K 4 fll.SAit Ut 11 4S3 3.M T2.S1T.IT lomrrad Otaar iitdeniU4 upetie) inevma Total ndara nUlwaj aediKlktv. Net odmanunc (aim at tan ltitant Lnrana Tatal. bafar taAatal 1di-i UIM. Net lacafaa DltMand la f . t UlfldetadJ la Mllnialdin Other Ita ffectinc iuttIm Beti Tatal capital aad aturplut Iteau aefMM la aural, aa nararda poU.iholdrrt , lf 9? t J tUtlNEM IN OREttON FOR THE VE-R Dlrvt prenluiai recalsad-. I S04 IS I.rat( euo said , , S.41S 11 ITTNOPili or AVNT1L i.TATi:' :rN"r far taa jeer an-M liereass-ii- 11. Ifc a INVESTORS INSURANCE CORPORATION f fttlUod. l Um Bttt f Or.coo ma.l, to IS lnaunn Owaalulonw of IM Sli f On tin. kutiuM fit U ; ASS OR Bflbdi l If9j:3! ' Uorttli lowii M ml muu !o ! Cull ud but dflvoaiu . 1 11 Olh IIHU la.sii.w Taul imii ... SI 11. 4; U .. tlAIILITirS. SUKfLUS AMD OTHER FUNDS Swm far Ufa aad accldaM and SallS sollrlrt $ 90T T4 PallcT aad rantraet clalau loo 94 All atftar Uthtllutl . - - S T- H Taul Hablllllaa. asrapt raplUl 17.Ti4.7a ruital M-y f t.4n aa I'aumn aurplua . . Sf4 m as ar4a aa rasarda laUtjhsUm 1.S4S.741 w Taul - 11 11.4:4 ii SUMbIARV or OPERATIONS lAaaraal Bum Frataiaaa aaO aonu4u fmuadara- umki . . . f Nat tntaamaat Inrooa Otsar Laaa lli T.:I . . fatlrr bawiu IKTHH U IMMM M C3I IT l .Mt 4 m.si; : lla an S.4 4 nsitaa 101 1 4 11.4rs.c4 Tjui K laM tnm cmMaM - S iM.raM in arpi ami apaelti aarpl. t fM, f ,11 ra S4 OUSINEM IN OUCCON fO THE YEAR Oreaa KMlm and ai.mut ran- MlraUaba aMiai-tad Jut;es tbe - - I W.lll U Qrt mmTiii aa4 tUtau. andow- AMr.u. awrrasdin. and anoultlaa Mil djfmt th, Itar .... 40 M frliitlMl arica u Or.100: Um Olflc I'an- land. OrHn. ciations. There'll be a lot more on this rift. Con-plaints Josf Starting While the insurance tax is on the books 'and operative, the howls against it are just getting started. The big companies are saying little. The industry's best siwkcsmui are the smaller com panies. Charles J. Zimmerman, presi. dent of Connecticut Mutual Life Insurance Company, has blasted the. tax which he describes as "nothing less than unconscion able " While the average rise Is 55 per cent in insurance taxes, Connecti cut Mutual's rise runs to 72 ;wr cent, Zimmerman said. In the ca of mutual compan ies which have in fo.ee CO per cent of the life insuraice o! the VS.. the tax is a direct levy on policy, hoi lers ami bcneliciaries, Zim merman funis. 'iio- to the now lax law," he says, "life insurance was already more heavily taxed than any other form of thrift. "Indeed, the income from life insurance funds was already luNed three limes as heavily as tlie average income from 1!) other forms of thrill aid savings. ' Cn this basis of comparison, it is clear that life insurance was already paying more than its fair share of the tax burden, yet it now must pay 55 per cent more." Will Hurt Dividends The first impact of the soaring tax burden on insurance saving is exKXted in dividends paid policyholders. 1 hese dividends, Zimmerman explains, "are paid from the sav ings resulting from careful selec tion of risks, from efficiencies and economies in operation of the comnany. and from interest earn ings beyond those required for the fulfillment of our long-time contracts with policyholders and beneficiaries. "In large measure these divi dends are a refund of premiums paid by the policyholder." Dividends have been rising late ly and the holders of policies in force a long time have found their dividends growing steadily. Thus they have had a lighter burden of payments at a time in life when they needed it. The Connecticut Mutual probably could have lowered costs to its policyholders by increasing their policy dividends next year, ac cording to Zimmerman. No Increaso "In view of the heavy burden , of increased taxes now facing our company, re says, an increase in dividends seems out of the question. "In fact, only the fortunate cir cumstances of rising Investment return and continuing favorable mortality experience will make it possible for the company to con tinue its favorable dividend scale and interest rate in liKiO." Present policies, of course, will continue at the premium rates at which they were written. Some insurance experts believe that when the new tax takes its bite, insurance companies may have to ra.se the premiums on new insurance written. This new tax hits 120 million pooplt? and that possibly is some thing of a record blow. Life insurance reserves, rep resenting the savings of these millions, are greater than the total of savings in savings and loan associations, Zimmerman points out. Ice Cream Salutes LA GRANDE FRUIT COMPANY our distributor in the La Grande area on the occasion of its 20th ANNIVERSARY! Look for 50c Oregon Centennial Coins Inserted . At Random In Half Gallon Containers of Jewel Centennial Ice Cream . '. at Your Grocer's . . . During La Grande Fruit Company's Anniver sary Celebration, July 16-Aug. 15. Jewel Ice Cream