BROOKINGS-HARBOR P I L O T
THURSDAY OCTOBER 17, 1957
T h e B r o o k in g s -H a r b o r
for w hat it 's w orth
P IL O T
i
Î BUSINESS
(L IF F O R D ROW E
sAN independent newspaper
N A T IO N A I
1 0 I T O « l_A I
*
1 I a sso c F ati ’S / n
• e3<c-a|J i f
'N IW P A M I
r y tu iH ia s
- association
Entered a* Bcmi-d-claui m atter nt the pojtoffice a t Brookings, Or»
March 7, UH6, under an A rt uf March 3, I87tf
Ray Piurek, Joe Murphy
S d ito rt and /'w M u A e r,
sz
.
S U B S C R IP T IO N R A T E S . ‘
Year In Advance (in C urry County!
Year in Advance (outside Curry County)
S3.00
S3J0
PROMOTION LS THE KEY WORD............................
We who are old-tim ers in the Brookings area like to think
that we have some very fine attractions in this region. We find
that people in other parts of the country are interested in many
things that we have here in abundance.
We have our beautiful ocean, and wonderful beaches, our fine
wilderness country, and our bountiful forests. We have some of
the finest fishing stream s of anywhere in the country. We have
driftwood, and beautiful lily and daffodil acreage. Our climate,
too, is a great attraction, especially to the people In the middle
west, who suffer from the heat In the summer, and the cold in
the winter.
However, the main thing is to let others know of our g o o d
fortunes, and they will seek us out. It is hard to package up a
piece of our glorious sunshine, or a mountain to send back to
the folks back home. It is relatively simple to work up a case
for one of the moat progressive local industries though.
We heard the suggestion made at the Chamber of C om m erce
meeting the other night, and think that there is some m erit in it.
The Cedar Lane Canneries puts out some mighty tasty products.
They have smoked salmon, and smoked tuna, and smoked shrimp
and a variety of other sea products. We would be in favor of the
local citizens buying up some of the Cannery merchandise and
. dispatching it back east. If that doesn't bring a few people out
west we don't know what will.
A sa result of the recent trend
rights of the individual are indis
of events within our own borders pensable to the continued exist
the normal citizen c a n n o t be ence of any democracy.
blamed very much if he finds
But if the foregoing gives cause
himself in a state bordering utter for bewilderment, what must be
confusion.
the reaction of these same law
Certainly when a governor de
abiding citizens when they are
fies the president of the United made aware of the fact that one
States as well as the supreme of the country's most powerful
court of the land, the man or labor unions has by acclamation
woman who has been taught from
seated a president whose name
infancy to give proper obedience
has become a byword for co r
to authority may well come to
ruption and hooliganism.
believe that he has fallen down a
For here again, democracy is
rabbit hole Into topsy-turvey
threatened. Without doubt the
land.
most outstanding achievement of
And when this same defiance by this particular democracy of ours
a governor of a sovereign state
has been the almost unbelievable
is based on the idiotic prem ise
strides made by organized labor
that one color of skin brings its
In its struggle for an equal share
owner more rights and privil
of the produced wealth. To lose
eges than that of another, one these advances of the last half
harks back to the fanatic scream
century would In Itself be tragic;
of "hell Hitler" and wonders whv
but to lose them at the hands of
we fought two world w a r s in
labor itself might well be a blow
order to preserve the equality of
from which it would be difficult
man.
to recover.
Undoubtedly these e v e n ts in
This is why I can't get too
current national history in the
alarmed by the Soviet Satellite
making are sufficient to cause the
whizzing by miles overhead. I
serious citizen to view w ith
am too concerned with even more
alarm the shaping pattern. For
dangerous
developments taking
even the most illiterate and the
most irresponsible know well that place right here on old t e r r a
firm a and within our own bound
respect for constitutional auth
aries.
ority and a regard for the equal
Two other sim ilar businesses, the Myrtlewood shop, and the
Agate shop, also have unusual bits of the Oregon coast in their
establishm ents. The point w e're trying to make is that we are
proud of our country. Let's be telling other people about it, and
le t's be sending something back.
WELCOME FISHERMEN........................................
We see a lot of happy visitors parading down Chetco a v e n u e
at this time of the year. The Chetco river salmon run seems to
be getting underway in good style, and It Is surprising how many
people come here from many miles away.
We are always happy to see them, and we welcome all the ang
lers with open arm s. People are beginning to realize what a boon
the tourist—and the fishermen are to a community. Good fishing
friends.
'IKNfHBOnK
I took 3 picture of the three
bears Saturday, but there was no
Goldilocks around. Herb Payne
nailed the three bears up the
Chetco River about six miles.
However, at the time, he was
hot on the track of a nice big buck
and had to pass him up with a 11
the shooting at bears etc.
*********
Our friend Charles Porter will
be in town this week. 1 was just
reading somplace where Porter
has acquired the reputation as ont
of the chief critics of this coun
tries foreign policy In South and
Central America. Not bad for a
freshman legislator.
BUD PISAREK
Speaking of hunting, the Great
White Hunter, L arry Roemnich
got his buck Saturday also. How
ever Larry reported that there
were about five dead does in the
woods, that he had heard of or
seen. This would be dishearten
ing to most hunters.
•»*♦**•***
Which reminds me that Leo
Lucas had a cow which got shot
in the jaw last week. How about
an eye examination for hunters?
*••*•****•«
John Hall has returned from
Alaska, and reports t h a t th e
country up there is fabulous. He
said that they struck oil near where
he was living, and the area is just
booming. Hall got his first a ir
plane ride from his son, while up
there.
••*****•««
Last week was a lulu, as far as
meetings go. Monday night w as
the Port Commission meeting,
Tuesday night the Council meet
ing, Wednesday night a meeting
for the Boy Scouts, Thursday nigh
was a Chamber of C o m m e rc e
meeting.
•«•••***••
1 wonder if It will interest the
scientists to know that several
hundred people In Brookings saw
the moon here Monday night.
With the Giants switching to
San Francisco this next year, I
will personally guarantee that
nine tenths of Oregon will take the
Giants under their wings on a fa v
orite son ticket within the next
couple of years.
• The Kids", a lithograph done several years ago. Lithography, the oldest printing form la done
by drawing with a grease crayon on a limestone. The print has been exhibited in the Walker Art
Center, Minneapolis, the Milwaukee Art institute, and The Wisconsin Salon of Art.
Speaking of sports, that there
Mildred Byrne Is developing into
ont* of Brookings leading football
fans. She is either just coming
back from a game at Oregon, o
just on her way down to see O n
gon state.
**•*•••*•**
Many U. S. Corporations are
confronted each year with the
necessity of o b t a i n i n g new
m o n e y to help finance their
expenditures for new plant and
equipment. These expenditure!
have been rising rapidly In r e
cent years, from $26.8 and $2&. 7
billion in 1954 and 1955, respec
tively, to a booming $35.1 billion
in 1956.
This heavy spending is one oi
the main supports under our
present high-level national eco
nomy. Although the rate of In
crease of business capital spen
ding has slowed down from last
y ear's 22% advance over 1955
it is still moving along at very
high levels. The 1957 total is
expected to be about $37 billion
or 5 1/2% above 1956.
Essentially there are three
sources of plant and equipment
funds: (1) depreciation charges
which build up special business
reserves to help replace plants
and equipment as they wear out,
(2) undistributed profits, which
are retained and plowed-back
into business enterprises, and
(3) new securities issues.
In tut- past five years new
corporate securities issues hav>
corporate securities i s s u e s
have averaged almost $10 bill
ion annually. The highest a-
mount of new capital raised by
corporations in any one year
was the $10.9 billion of new
securities issues in 1956. P r e
sent indications are that new
corporate securities issues for
1957 will probably total about
$13 billion.
This is an enormous sum and
indicates that American industry
requires fresh, outside capital
to finance about one-third of its
c a p i t a l expenditure program.
Internally-generated cash (from
depreciation accounts and undis
tributed profits) will be used to
underwrite the remaining two-
thirds of the cost.
This tremendous requirement
for new capital Is one of the
reasons why the money demand
has been so strong and Interest
rates have been rising.
T he o u tlo o k for corporate
financing In coming months is
problematical. One view is that
no substantial de c 1 i ne In the
v o lu m e of corporate financing
is foreseen next year. It is r e
ported that backlogs of financ
ing needs are being built up by
corporations which have missed
out in attempting to outguess rises
in interest rates. Hoping to get
lower Interest rate charges,
these firms have postponed long
term financing, using short-term
bank borrowings as a temporary
expedient. Interest rates have
not eased, however, and banks
themselves, quite short on lend
able funds, are pressing their
corporate custom ers to refund
their short-term loans into long
term stocks or bonds.
A n o th e r s c h o o l of though
suggests that uncertainties in
the business o u t lo o k , coupled
with over-capacity in many in -
dustrles, narrower profit mar
gins, and continued high interest
rates, are going to discourage
Industries from seeking new cap
ital funds as their present ex
pansion programs near comple
tion, and as other expansion plans
are stretched-out, postponed or
canceled.
The business scene is reviewed
weekly by the Research Depart
ment of J. Henry Heiser t Co.