THURhDAY^.AUGUST 29,,195?
BROOKJNGS— HARBOR
P IL O T
FAIR
SISKIYOU RECEIPTS OVER
$2,000,000
Net receipts from the 19 nation
al forests of the Pacific North
west Region were a record b n be
ing total of over 56 and one-half
million dollars for the fiscal w a r
ending June 30, according to R* -
gional F o rester J. H erbert Stan
This was approximately 2 m illón
dollars greater than the record
for th< preceding fisc a. year.
Th« Willamette Nations. Forest
topped all other A reata in O re
gon and Washington * ith recei^»
totaling $9,914, 296.36. Five na
tions. forests In Oregon and 3 in
Washington had receipts over 3
million doilare. In Oregon, in.
addition to the Willamette, they
were Umpqua $5. 396, 80$. 64c
Sius.ii* S-i. 694, 055. 62 Mt ttxd
$4,190,536.1?; anc, De&hutes,
Agricultural products displays,
flower shows, poultry and antm.
al husbandry exhibits, a horse
show, and a night revue, featur
ing the Antes Brothers, will be
among th*- highlights of the fair'
slated for Salem August 31 to
September 7.
Horses * ill race every day ex
cept Sunday. The midway will
have rides for child re rand adults
and concessionaires will serve
food anddritks and sell novelties,
$5,022,539.35. In Washington
Gifford Pinchot National Forest
led With $6,105,414.55 followed
by the Olympic with $4,705,450.
45, and the Mt. Baker wuK $3,
770,938.88.
Siskiyou National Forest re c e
ipts were: $2,310,988.86.
THE
BUSINESS
'SCENE
Buslness s p e n d i n g for new
plant and e q u i p m e n t is the
heaviest in history. Meanwhile,
however, there Is a growing
surplus of existing production
capacity.
Some cushion of unused man
ufacturing facilities Is healthy,
and is so regarded by most
businessmen. Material short
ages such as those of 1955 ( and
1956 to a le sse r extent) do not
contribute to a smoothly func
tioning economy--buyers may
be forced to pay prices far a-
bove the market for immedia
te delivery of goods in sparse
supply, or even suffer plant
shutdowns for lack of m ater
ials.
POUR
YO URSELF A
GLASS OF
t — n jin
)M ?
r. • ,» •»
M ttre
Cane«*,
»orti»»« O r ,,o»
A number of economic devel
opments might result from this
moderate over-capacity in non-
ferrous m etals, paper, petrol
eum products, consumer hard
goods, and steel products.
Productivity, or output p er-
man-hour c o u 1 d resume its
upward trend with consequent
benefit to our general standard
of living. M a r g i n a l , perhaps
obsolete, plants must be oper
ated during peak demand p e ri
ods (such as 1955 - 1956), but
manufacturers today may con
fine themselves to their newer
and more efficient facilities.
Over-capacity also means less
need for expensive overtime
bills, and little necessity to
purchase materials at premium
prices. Inventories of raw and
finished cr^ods may be reduced
are available on
short notice , Inventory carrying
costs are quite substantial in
these days of high interest rates.
slower rate of additions to man-
Over the longer term, indust
rial management might plan a
ufacturing capacity. a diversion
of the n a tlo h ' s financial re
sources toward the depressed
r e s i d e n t i a l housing market
might be a logical result.
Economic growth, however,
has again and again converted
the surplus manufacturing facil
ities of one period into inade
quate facilities a short time
later. It Is our belief that most
businessmen will refuse to be
frightened by temporarily idled
plants and that they will con
tinue to plan for growth. Acc
elerating technological change,
furtherm ore, is a convincing
reason for construction of new
plants even where existing ca
pacity seems quite adequate.
------------- ---------
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indicated that some workers
may be disturbed by scattered
lay-offe, plant shutdowns, low
e r overtime pay checks,
and
higher prices.
The Michigan survey showed
consumers to be considerably
less optimistic th an at any
time during the last two years
although they could scarcely bt
described as gloomy. Two third -
of the consumers polled felt
that economic conditions would
continue to improve in the next
twelve months. Furtherm ore,
far more consumers feel that
it still Is a good time to buy.
The business scene is revipw
ed weekly by the Research De
partment of J. Henry Heiser &
Co., Investment Managers,
with offices in principal West
Coast cities.
The average consumer is un
likely to gam er im m e d ia te
benefit from the nation's cur
rent over-capacity. Prices may
be pared somewhat in highly
competitive industries, but the
excess capacity is not nearly
serious enough to cause wide
spread price reductions in those
key industries typically char
acterized by stable price stru
ctu res—steel, aluminum, ce
ment, etc.
The consumers attitude to
ward the situation is worthy of
some comment. A recent re
port by the University of Mich
igan's Survey Research Center
FO R Y O U R
. NEEEDS
CO N SU LT
Brookings
OLDEST AND LAKES!
AGENCY
see or call
F a u e r s o - Le s m e is te r
A gency, Ijoc. Box 1188
B r o o k in g s , O re g o n
P hone 5411 - 5412
NOT/CE.
EFFECTIVE
SEPT 1 st . 1957
A SERWCE CHARGE OF ! O t
W/£L R E /RARE FOR CASHM/O
CHECKS ETHER THAN THE
CORRECT AMOUNT OF PURCHASE.
• P/MMICK BROS.
‘Cm°K MMMFT
• HfiNSCPMS CENTER ‘
•NEMO MKT.
‘MMTS ATT.