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About The Bend bulletin. (Bend, Deschutes County, Or.) 1917-1963 | View Entire Issue (Dec. 21, 1962)
s " Sow? or Me winter THE BEND BULLETIN Friday, December 21, 1962 An independent Newspaper Robert W. Chandler, Editor and Publisher Jack McDermott, Advertising Manager Phil F. Bregan, Associate Editor Lou W. Meyers, Circulation Manager Loren E. Dyer, Mechanical Superintendent William A Yates, Managing Editor Enured as Seoond Clnss Mailer, January , 1917, at the Polt Ofrtca at Bend. Oregon, under Act ol AUrch 1. 1S79. Pub lished dally exr(pt Sunday and certain holidays by The Bend Bulletin. Inc. Riverside hotel closing in Reno points up the current plight of small hotels The Riverside hotel, one of Reno's big four and a landmark in the Nevada city for a number of years, has closed Its doors. New financing, including a big loan from the Teamsters Union, failed to keep the hotel open. At the time of the closing it was indicated the hotel was losing about $100,000 per month. The hotel business has been a tough one in recent years, particularly In small towns. During recent months the Pendle ton in Pendleton and the Saca.lawea in La Grande have closed. The Willard in Klamath Falls shut down, at least for a time. The Dalles in the city of the same name is reported on the verge of sale, to be torn down. Other small town hotels, not only in Eastern Oregon but all over the country, are in trouble. Reno is not a large city, and its hotels have had the same trouble as hostelries over the nation. What's wrong with the hotel busi ness? A lot. of things. Some hotels have run downhill so badly, physical facilities have fallen so far behind the times, that travellers no longer use them in sufficient numbers. The Dalles hotel and the Pilot Butte Inn in Bend fall into this category. Distances have shrunk, to the point that many overnight trips to Salem and back from Central Oregon, for In stance with some time for business, can be accomplished pretty easily in a day. New motels have sprung up by the dozens in important tourist centers. (The Bend telephone directory lists well over 30 within the city of Bend.) The motels offered free parking when the hotels made no provisions for the cars of guests. The motels had no bellboys with their hands out for a tip. Rates were lower than hotel rates. Separate units were attractive to many travellers. The motels had the bulk of the business before the hotels knew what was up. By the time the hotels woke up, it was too late. Hotel buildings, in many cases, have deteriorated pretty badly. The wiring and plumbing requires extensive, and expensive, rehabilitation. Reading a complete building survey of most ex isting small hotel structures is pretty depressing. The hotel business has been bum in recent years. The recent flock of closings only points up the situation. And there seems to be little or no cure for the situation for hotels which con tinue operating in the same old fashion. The average Joe can understand this Did you ever read a warranty deed? It starts out this wav: "KNOW ALL MEN BY THESE PRESENTS, that Joe B. Low, grantor, In consideration of umpteen dollars, to him paid by Jim Caselots. grantee, does hereby grant, bargain, sell and convey unto the said grantee, his heirs and assigns, all the following real property, with the tenements, hereditaments and appurtenances, situated in the County of Deschutes and State of Oregon, bounded and described as follows, to wit:" Most persons ran read this and get the general drift. But there are some words in there that are real doozers. "Hereditaments", for example. At any rate, a committee of the Oregon Stale Bar has done something about it. The committee has put to gether a new deed form, which does the job of conveying a piece of property from one person to another. But it's in simple language, considerably shorter, and just as adequate. This is a real blow for freedom. It falls into the same category as the Ore gon Supreme Court's recent decision in volving the instructions given to juries by judges, which should result In more understandable instructions in the fu ture. Boycott won't help OSU One can understand the reluctance of Sam Bell, Oregon State I'niversity track coach, to hrlp build up the track program of rival I'niversity of Oregon. But his refusal to enter OSU track men in the Oregon Invitational Indoor Track Meet at Memorial Coliseum next month, because it is sponsored by a I'O alumni group and the profits go to the UO Development Fund, prob ably will hurt him and his own sipiad more than anyone else. This is, after all, an opportunity to compete against top track performers from all parts of the country, and the experience should be helpful to any participant. It might have been better hud the annual meet started as a joint I'O-OSU Alumni venture. But it was initiated by 13 UO alumni who invested their own money and assumed ail the risks. Since it has now become a profitable operation, their desire to channel the profits to their own school is natural. Bell had proposed that the meet now become a joint venture. Since the Development Fund is used for general scholarship purposes, little of I lie meet profits will trickle down to Oregon's track program. Certainly the income trom the meet, whether OSU participates or not, will have no real bearing on the quality of Oregon's future track teams. Coach Bell has done an amazing job of raising the standards of track com petition t OSU in a few years. He has a laudable ambition to niotch and sur- pass what Coach Bill Bowerman has done at Oregon. The boycotting of the Portland meet is not the w ay to do it. (Oregon Journal) WASHINGTON MERRY-GO-ROUND Those who know scores not mourning Sky bolt By Prow PeaAon WASHINGTON - It may not help Prime Minister Macmillan with his domestic political prob lems, but there's a certain poetic justice in the fact that President Kennedy is canceling the Skybolt missile contract with Douglas Aircraft. For what Macmillan doesn't know is that time after time Douglas has come under fire for exorbitant profits on missile con tracts, for collaborating with the Defense Department in putting out advertising to boost a bigger defense budget, and finally for selling the blueprints of the DC-4 to Japan before Pearl Harbor. President Kennedy, therefore, is shedding no tears over Doug las protests that it is losing the $2,300,000,000 Skybolt contract. Douglas's track record of denials and lobbying pressure also brings no tears to anyone reviewing the record. When this column reported that Douglas sold the DC-4 blueprints to Japan for $706,720 in 1939. Don ald Douglas, Sr., issued a ringing denial. Under no circumstances, he said, would Douglas sell blue prints to Japan. But after the war, Japanese documents were seized, confirm ing the deal. One letter, Aug. 14, 1939, from A. Akabana to Maj. V. E. Bertrandias of Douglas, was especially interesting. 'Looking over the Saturday edition ol the New York Times," the Japanese official wrote, "I could not help but write this let ter to compliment you for the most excellent way of disclosing the sales. Those "in the know' will not object to the transaction as thev are limited to those in our trade, while the laymen don't know what the ship is anyway when mentioned singly by your designation in the paper. . .It was an excellent way of handling the difficult matter in a delicate sit uation, and I wish to share the feeling of relief, if you ever had one Colonel Nickerson's Expose Douglas was also the focal point of the furor stirred up by Col. John Nickerson of Redstone Arsenal, when he blamed the U.S. missile lag on wire-pulling by cer tain big manufacturers and claim ed they were undercutting effici ent Army production. It should he noted that the aircraft Industry and particular ly the Douglas Aircraft Company openly oppose the development of any missile by a government agency," Nickerson charged. It was the Army's Jupiter, built at Redstone, which finally launch ed the first American satellite. However, Nickerson's warning has come true. The big missile contracts for the Skybolt, et al. have gone to Douglas and other aircraft manufacturers, some times at exorbitant costs. These costs wore highlighted by Sen. John McClellan's investigat ing committee last spring when he showed how Douglas had roll ed up a profit of 44.3 per cent on contracts to build missile launch er-loaders, even though it farmed much of tlie work out to other companies. Western Electric, in turn, took a heavy mark-up profit on work which had been farmed out to other plants. Western is a sub sidiary of American Tel and Tel, the company which Kennedy rec ommended should dominate the new communications satellite. Dafanse Advertising and Politics Douglas has been using an ad vertising campaign to keep the Skybolt contract from being can celed, and it's suspected that it even had something to do with stirring up British political reper cussions in England. Just how these advertising cam paigns operate was disclosed dur ing the defense lobbying Hearings held by Rep. Edward Hebert, D -La. "We discuss with Army public relations officers our advertiiing program every year," Donald Douglas, Jr., confessed to Hebert without batting an eye. "It's part of our partnership with the arm ed forces. Our habit is to submit to the armed forces a plan of what we propose in advertising and get their suggestions." President Kennedy, in his TV report to the nation, referred to Douglas's advertising campaign against cancellation of the Sky bolt: so it might be interesting for Representative Hebert to hold another probe to ascertain wheth er Douglas's current advertising was also concurred in by the arm ed forces. Despite the track record of high profits and wire-pulling, the ad mirals and generals continue to fa vor Douglas. On the day after Kennedy gave his TV report to the nation. Sen. Clair Engle of California proudly announced that the Navy had awarded a $15,400.- 000 contract to Douglas for long lead items for Skyhawk aircraft. And since the McClellan Com mittee exposed Douglas's exces sive profits on Apnl 3 of this year. the Air Force has actually signed 19 contracts with Douglas total ing $82,609,000: while the Navy awarded Douglas six contracts to taling $14,200,000. So. despite the finger of Con gress pointing at excess profits, the armed forces blithely contin us dishing out contracts to their old friends the big defense con tractors. MIssile-G-o-Round Prine Minister Macmillan's problem with cancellation of the Skybolt is because he was under heavy fire for surrendering Bri tain's own "Blue Streak nuclear deterrent. He did this on the un derstanding that it would be re placed by the Skybolt. ..Real reason why Kennedy is canceling the Skybolt is not its failures but because he is diligently and def initely seeking a tax cut. The only way he can cut taxes is to cut the budget and the only place where the budget can be cut is military spending. . .Though the Skybolt has had some experimen tal failures, the fact is that every new missile scores initial failures. Douglas did an excellent job in the end on the Tlior, the most ac curate of our long-range mis siles. . .Secretary of Defense Mc Namara, with his slide-rule brain, has calculated that with the Min ute Man missile we can get more bang for the buck: so with econ omy necessary, the Skybolt has to go. . .Kennedy is ottering the British Instead a medium-range mobile missile which can be trans ported around the British Isles by truck. What ever you need, you'll find tt through Bulletin Classifieds. To get fast results phone EV 2-1811. Rousselot gets John Birch post BELMONT, Mass. (LTD U.S. Rep. John Rousselot, R-Calif., de feated in a bid (or reelection last month, will become a top official of Die John Birch Society, it was disclosed here today. Robert H. Welch Jr.. founder and director of the organization, said Rousselot will be the society's first district governor. Rousselot, 34, will be in charge of Birch activities in six western states: California. Oregon, Wash ington, Arizona, Nevada and Ida ho. California, especially the Los Angeles aa-ea, is one of the soci- ! ety's strongholds. Rousselot has beeo a member I of the society for some time. He j served one term in Congress and was defeated in November by ! Democrat Ronald Brooks Camer ! on, a state assemblyman. ! ALLOTS WORK PROJECTS I WASHINGTON IL'PU - Com j merce Secretary Luther H. Hodg ! es announced the allocation Thursday of an additional $197.6 million for job-producing pub j lie works projects in economically 'depressed areas. WALL STREET AND YOU SAVE FROM 1400 to $1700 on THIS HOME! Mow? By performing the interior finishing steps yourself! Through a re markable new plan called the Institute for Essential Housing, yoa can actually get 100,o financing on any of 28 different home designs . . . and save up to $1700 by carrying through yourself from what we call the basic-and-materials stage! All materials furnished and fi- ED) nanced. story. Visit us now for the complete 911 N. 8th St., REDMOND OPEN HOUSE seven days a week! 1:00 - 9:00 P.M.MIvhru THE MILLER LUMBER CO. Your authorized IEH builder N. Y. Stock Exchange has had vital industry role By Dennis S. Steen Perhaps no other single factor has contributed so importantly to the growth and development of our securities industry as has the New York Stock Exchange. The New York Stock Exchange, as we know it today, had it's be ginning when 24 merchant brok ers signed the "Buttonwood Tree Agreement" in 1792. In this agreement they vowed to give preference to each other their transactions, to charge set commission and to meet daily at noon under a buttonwood tree in lower New York. From 1792-1800 the group traded tn government and municipal bonds, various merchandise and even livestock. In the year 1800, their operations were moved in doors permanently and became known as the "Merchant's Exchange." In the ensuing years the group continued to grow in number and their sessions extended to half a day. The members carried on their buying and selling, auction eer style, while seated around a vast table. Thus, the phrase "owning a seat" on the Exchange originated. The growth of Hie securities in dustry was extremely slow during it's early years, due to the scar city of common stocks available to the public. But the coming of the railroad (in the early 1830 s) signaled a new era of growth and importance to the Exchange. Railroad builders needed million of dollars and the public was rea dy and anxious to buy shares in the nation s newest industry. The place where the buyer and seller could meet on common grounds. The years ahead were a period of rapid growth and expansion. The successful introduction of the teletype (18421 made it possible for individuals located in distant areas to buy securities for the i first time. I In 1863, our group of security j dealers, still known as the "Mer- j chant's Exchange," moved to their present location at the cor ner of Broad and Wall Streets, I and became officially known as the New York Stock Exchange. It's interesting to note that the term "Wall Street" has been in existence since 1587. It's name was derived from the wall, or angle, built on the northern side of the street to ward ott the Indians, Tlie period from 1850-1929 was one of extreme rapid growtn, speculation and stock manipula tion. The only effective regula tory laws relating to the secui ities field were those extablished by the New York Stock Exchange, However, as the Exchange had no legal power to enforce these laws, the investor's lot was often a perilous one. Today the shareowncr's intei ests are safeguarded by tlie Se curities and Exchange Commis sion, created in 1934. Never-the-less, tlie New Y'ork Stock Exchange played one of the major roles in bruiging our se curities industry to it's present dav advanced level. Reminder given on yule trees S.tcial Tha Bulletin PRINEVILLE Family Christ mas trees may be cut at the rate of one to a family upon request of a free permit al a forest ranger office, local residents are remind ed by tlie Ochoco National Forest office. Permits will be issued through Sunday, December 23, C. L. Clark, forest supervisor, states. Weekday hours for applying for permits are from 8 a.m. to 12 noon, and from 1 to 5 p m. On the last Sunday of tlie season. Decem ber 23. permits will be issued at the ranger offices from 1 to 3 p.m. only. Joyous & Christmas to the world . . . we chime in to wish yoa and yours the tuppiest of Christmuej. from everyone here at FOWLER PRINTING 1 BE INSTALLATION TIL CHRISTMAS A MIRROR can do marvels for your home. 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