Page 4 Section 1 THE CAPITAL JOURNAL Salem, Ore., Friday, January II, 196? Capital AJournal An Independent Newspaper Established 1888 BERNARD MAINWARING, Editor and Publisher GEORGE PUTNAM, Editor Emeritus Published every ofternoon except iunday at 280 North Church St. Phone EM-46811 Full Leased Wire Service of The Auoclated Prwi nd The United Piett. Tne Associated Prtii Is exclusively entitled to the ute for pub lication of all news dlipatchei credited to It or otherwisa credited in this paper and also news published therein. SUBSCRIPTION RATES By Carrier: Monthly, Sl.IJ; Six Months, $7 30; One year, $13.08. By mall In t)recn: Monthly, 11.00; Six Months, 50U; one Year, 19.00. Ry mall uuisiae uiffon: .-uomnijr lua; ix .mo mm, j.io; one year, fjs.oo. State of the Union Message In his annual ' State of the Union" message President Kisen ; hower called for a new measure of American unity and for efforts to continue prosperity here and abroad to meet armed Imperial dictatorship" abroad. He asks cooperation of Con- ' firess and that cf the American people to help establish "a se cure world order . The -500 word message, delivered in person, was briefer than customary and streamlined. He stressed our prosperity and warned against the menace of inflation which can damage our economy. He asked business to avoid "unnecessary price increases" and warned that wage increases be "reasonably re lated" to productivity, lest pay boosts outrun prices and pro ductivity to contribute to inflation, and urged a national in quiry into our financial system. The president repeated his plea for an "open skies"' agree ment for material inspection for disarmament, aiding this country's continued efforts In this direction. He recommended that the United Nations persist in its efforts for reduced arma ments. Many of his suggestions are repetitions of those previously made in interviews and speeches. Among specific requests were: ' A school construction bill which should be given "high priority." A four-point civil rights program which he recommended last year. Prompt action on legislation to "regularize" the status of Hungar ian refugees admitted to this country as parolees. An appreciable increase in appropriations for the U. S. Informa tion Agency to strengthen the Voice of Freedom. Congressional authorization of full U. S. participation in the Inter national Atomic Energy Agency. Special messages and those from department heads will be lubmilled for legislation on a wide variety of subjects. These will include federal financial affairs, defense, the administra tion of justice, agriculture, "urgently needed" increases in postal rates, domestic and foreign commerce, natural re sources, labor, health, atomic energy, public works and labor management relations. G. P.' rUl)S Must Pay Taxes The Oregon Supreme court has ruled that Public Utility Districts in Oregon are subject to taxation, the same as private utilities. The courts held in an opinion written by Judge George Rossman that taxes assessed against the Northern Was co County Peoples Utility District by the state tax commission for the year 1950 and through 1953 were lawfully assessed. The decision held that the statutes providing for the taxes against the PUD "are not arbitrary or unreasonable and are free from constitutional infirmities." The case was in the nature of a test case as Public Utility districts in the state have always claimed they are exempt from taxation in their organization propaganda campaigns. The decision affirmed in part and reversed in part the deci sion of Judge M. W. Wilkinson of the Wasco county circuit court. He had held that the 1950 levy was void but sustained the levies for the ensuing years. The supreme court ruled that the 1950 levy, which was made under authority of a void statute was validated by later cura tive legislation. To this extent, Judge Wilkinson's decree was reversed but the remainder of Ihe findings of the lower court were confirmed. The high court also hold that the Oregon legislature had the power to enact the tax statutes which the PUD challenged and that such statutes were not unconstitutional and did not violate any constitutional restrictions and that the taxes for all the years were lawfully levied. Equality before the law requires that there should be no favorites played in taxation or other legislation but there are loopholes whereby many cooperatives escape taxes, which are utilized by promotors to amass fortunes. The same holds true in our anti-monopoly and anti-trust laws, which loopholes have created the biggest monopoly of them all the union labor monopoly with its millions of members and millions of dollars now seeking to control legislation and dominate the govern ment for its own welfare, untaxed and uncontrolled. G. P. NATIONAL WHIRLIGIG White House Advisers Think Civil Rights Program Safe By RAY TUCKER WASHINGTON, Jan. U The gradual breakup of the postwar coalition of liepubncans and bouth ern Democrats in the Senate as sures passage of the Eisenhower civil Hi cuts program, in the opin ion of White House advisers and GOP leaders on Capitol Hill. Under political and presidential pressures, the alliance which plagued F.D.R. and Harry S. Tru man is collapsing. It ia the first specific success which Ike has gained In his professed ambition to "liberalize and humanize" the Republican Party in preparation for the 1960 election. Eisenhower has set out deliberately to retain the support of the colored and other minorities which gave him such a great majority last Nov- ember. Ironic Aspects The process of the coalition's dissolution has ironic aspects. Whereas it was expected that the common interests of the West and South natural resources, power, agriculture, tariffs, etc, would incline them to unite on major issues, It has been a band of poli tical Lochinvars from the West that has lined up against Dixie. Salem 47 Yrs. Ago By BEN MAXWELL Jan. 11, 1910 Henry "Harry" Stapleton, a member of the capitol construc tion commissioners and one of the builders of Marion County court house, also erected in the early 1870s, had died. Harry Stapleton was one of the organizers of Sa lem Water works. Salem school hoard had required all children in the public school system to furnish individual drink ing cups as a safeguard against contagious diseases. The board had also installed tanks at all schools filled daily with boiled water. (There was a mild typhoid epidemic in Salem at that time with its source attributed to city water contaminated by a broken main beneath South Salem slough. I E. J. Locke, former master of the British bark London Hill, had returned to Tacoma as a place for residence His last voyage out from the Sound to Dublin he described as one of the more horrendous in the history of the grain fleet. Nine seamen were lost off Cape Horn in raging and enduring gales, four became insane and the male was so severely injured that after a month of suffering he, too, lost his mind. Captain Locke had sustained severe internal injuries. A Salem person had called the city health officer's attention to a premise at fiW North Summer St, where a woman had been sick for two months and where a pool of stagnant water stood beneath the house. It was Chief Justice Earl War ren of California, an Eisenhower appointee, who delivered the Su preme Court's decision against segregation in education and trans portation. Now, Vice President Nixon has declared that he would hold the key provision of the Sen ate rule barring limitation on de bate to he unconstitutional, if the opportunity were given him. The third member of the power ful California trio Senate Minority Leader William F. Knowland has said that he will support a Civil Rights program, even though he voted against the liberal bloc's ef fort to change the rules. Finally, 16 of the 38 Senators who voted for revision of Rule XXII, which permits unlimited de bate, come from states in the Midwest and Far West. Five were Republicans, and they admittedly voted against future filibustering because of the Eisenhower-Nixon attitude. Presidents Appeal Heeded Two other members Neely. Democrat from West Virginia, and Wiley, Wisconsin Repub'ican would have voted against t h e South, had they been present. Their votes would have brought the anti-filibuster total to 40. Six Republican Senators who opposed the rules change will heed President Eisenhower's ap peal on behalf of his Civil Rights proposals, if he chooses to apply greater pressure than he did at the last sess!on. Ordinarily, with the normal number of absentees, 46 Senators are enough to provide a majority. In addition, there are about 10 Senators, Republican and Demo cratic, who cannot afford to op pose these measures in a show down, even though they voted with the South in the recent test. They have too many Negro voters in their states, and several must run for re-election m 1958. Skirmish For The Future Two men now hold the fate of Civil Rights legislation in their hands. President Eisenhower must throw himself into the fight with sincerity and determination, even going so far as to make the ques tion a major Party issue. He did not advance this program until late in last year's session April and then he showed little interest in it. But the November results, when he corralled a huge Southern and Negro vote, may lead him to change his tactics. Senator James O. Eastland, sec rogation champion from Mississip pi and Chairman of the Senate Judiciary Committee, must be pn vented from pigeonholing this leg islation, which passed the House by a comfortable margin last year. As Nixon's comment indicated, and as Capitol Hill realizes, the Civil Rights question is not much a legislative controversy as the first skirmish in the I960 Presi dential battle. (Released by McClure Newspaper Syndicate) Inventory rWTER. $ FIGURING mmn it , faring, J W I AN IN THE. f A - Small Business Said to Have More Enemies Than Friends Message Seen as Harbinger Of Bad News in Budget Talk Let the Democrats Have It The hassle which has been going on for weeks between Re publican and Democratic slate senators over control of the senate appears to he near solution. State Senators Warren Gill, Republican, of Linn county, and Walter J. Tearson, Democrat, of Multnomah county, are re ported to have agreed that each parly choose its own commit tee members instead of allowing the Demos to fill some com mittees with both Democrats and Republicans. This leaves only the question of whether Gill or Pearson will preside over the senate. This question should be and probably will be resolved in a senate caucus to be held in the Capitol Sunday night. To fail to reach an agreement and thus delay important business in the Legislature, would be a disservice to the people of the state. As the Capital Journal has said before, we feel the Republi cans should allow the Democrats to take over control of the Senate. A Democratic governor has been elected by the peo ple and the majority of members of the House of Representa tives are Democrats. Hence, it appears that the state Senate should also be in the control of the Democrats. Governor-elect Holmes will present a program to the Legis lature, one that should receive earnest study by members of the assembly. If the legislative machinery as well as the chief executive's office is controlled by the Democrats thev will have the responsibility of carrying out such a program, and will rise or fall on the results of such a program. Some Republicans have voiced objections to Senator Pear son as president of the Senate. No doubt he has some faults -don't we all but ho served for four years as state treasurer. His service on the whole was excellent and he is conversant in state affairs. If the Democrats in the Senate want him as their presiding officer, why not go along? Doubtless he will do as well as some of the past presidents of the Senate have done, and more over, It would be his responsibility to make a good record not ! only for his own sake but for his party. Hritaiii's Doctors May Strike Britain has had many strike threats, but never one just like that of the nationalized medical profession, which is demand ing a 24 per cent Increase in Its fees from the government. The boost "could not be afforded under present conditions," a government representative countered, asking the medlci to think It over and come back for another talk In two weeks. Suppose the doctors nay "pay It or else," and back up their words with a strike. Will the government resort to troops, as It has with some other strikes over there? Or resort to strike breakers? Such a test would be interesting to watch, with an ocean between us and the prospect of having no one available to remove an ailing appendix. By I.YLE C. WILSON United Press Staff Correspondent WASHINGTON (UPl-President Kiscnhower's message to Con gress on the state of the union suggests the bad news to come in next week's budget message. The bad news: No tax cut pos sible now or soon. The most emphatic paragraphs of Mr. Kiscnhower's Slale of the I'nion MessaRe denlt with the dangers of inflation. The admin istration evidently senses those dangers just around the corner. Kvery argument Mr. Eisenhow er used against inflation would apply equally against a tax cut. Tax reductions are, themselves, inflationary. Tax cuts are the kind of economic medicine suita ble to correct deflation. Ilrflnllon Vs Inflation Deflation describes a situation in which the value of .a dollar in creases in terms of the commodi ties it buys. Inflation is the oppo site in which Ihe dollar shrinks in terms of what it can purchase. For example, ttie 19.i7 dollar will buy one 193! 50-cent cigar. That is coosiderable inflation, suf ficient to arouse real anxiety such as Mr. Ktscnnowcr indicated in Thursday's messase. Kven so much inflation it bad, especially for persons on fixed in comes pensions and such. It is not a p.Meh, however, on the kind of all out catastrophic inflation which could overwhelm the Cou nt Stales if Ihe Irenil of the past 2.', years continues. If that trend does continue. t97.Vs teeii-aKei's will be skimping along on $100-a-week spending money and taxicabs will be charging $25 for the first half mile. It could be worse than that, of course, and well may be if the government continues the prac tice which distinguished the Roo sevelt terms and most of the Tru man years of spending annually a lot more money than the Treas ury collects. .Makes No 1'romlsei Mr. Kisenhower did not bear down hard on promises that the budget would be always balanced during his second term. But that, obviously, is hu objective. The President s anxiety over the pos sibility of Inflationary catastrophe was so evident that a tax in crease might be suspected if only the nation's economy were involved. i oiitics. however, it a ma)or (actor in Mr. Kiscnhower's fiscal polices as politics uiiM oe In the policies of any president inflation. Higher taxes also might disrupt the national econ omy and spin the nation into a deflationary spiral, accompanied by unemployment and what an older generation came to know as depression. Government knows more now than in the 19.in's about adjusting Ihe national economy to over come depression and unomplov- menl. It is well that some more knowledge has been gained. The depression of the early Iran's per vaded through the Roosevelt years until the national economy was sparked by the explosion of World War II. War, however, Is strong, deadly and costly medi cine for depression, even when It cures. FT HI By DAVID LAWRENCE WASHINGTON This is the sea son ot the year when several members of Congress profess to be interested in "small business." No greater piece of demagoguery emerges in pol itics nowadays than the alleged concern for the fate of "small business" as the term is used by For the truth is "small business," as it should be de fined, has more enemies than friends in Congress. and the trend is toward more strangulation of such businesses in America through the power of monopoly. The monopoly in question is not "big business" but "big union ism." There is lots of talk now about giving some tax relief to "small business" so that those firms earning around $25,000 to &0.000 a year may get a slightly lower tax rate. Rut that s no real relief. It is infinitesimal and does not relieve the main burden the necessity of paying national scales or union wages irrespective of lower costs of living in small towns and rural sections where many small plants are located. Today labor unions fix the costs for the small - business man. Whether or not he has up-to-date machinery, he has to pav t h e same national wage rates that the large business pays. Indeed, the prevailing wage rates are fixed in negotiation with the hig busi nesses, and then the smaller ones have to pay the scale, or close to it, just the same. Nobody in Congress has had the temerity to propose that there be substantial differentials in wage scales so as to benefit the smaller businesses. Nor is anybody introducing bills to prohibit labor unions from ap plying wage rates on a national basis. No committee of Congress President Seconds Motion For Finance Study Croup WASHINGTON tf All Presi dent Elsenhower did In his State of the Union message, when he suggested that Congress author ize a special commission to study this country's financial structure, ..s to second the motion. By JAMES MAKLOW Associated Tress News Analvst Or a congressional committee might, with the help of its starf, undertake the kind of examina tion which Kisenhower suggests should be handled by a specially created commission. The membership of the com- Similar proposals have hem mission is hound to affect its rcc made inside and outside gmrrn- ominnnlalions. inent over the years, most recent Kisenhower himself was com- ly on Dec. .10 by n 27 man group plelrly vague on what he wnnled of husiness and financial leaders a commission In examine except who formed an advisory commit- for this: it should "conduct a tee to the Senate Banking Com- broad national inquiry into the na- mittee. lure, performance and adequacy Practically everybody is in fa- of our whole financial system vor of such a study. Not every- Here are some Questions and body is agreed on how It should problems such a commission be done or who should do it. The would probably study: purpose of course would be to try The extent to which the govern to make America's monetary and ment should coordinate its credit financial operations work better. 1 agencies under some central au- By DAVID LAWRENCE under the Democrats ever would venture to investigate this subject, yet it's at the heart of present day difficulties for small business. Labor unions are exempt today from the jurisdiction of the anti monopoly and anti-trust laws, and they can do as 'hey please in fix ing, by concerted action through out the country, the labor costs that smalt as welt as large busi ness must pay. In fact, all busi nesses face not only this monopoly but in many instances a monopoly on labor membership through the imposition of restrictions on how many apprentices may be ac cepted each year. If a small plant tried to hire non-union labor, it runs into boycott troubles. This tight hold on the, labor supply and national " age scales gives "big unionism" tremendous power in the economic system of today, and yet the Democrats who claim to be "the party of the people" do nothing for the vast number of workers whose jobs are being jeopardized now by rising costs. The main reason for this indifference of the Democrats is that they get the bulk of their campaign contributions from "big unionism." That's why the Demo cratic Party in Congress refuses to tackle the problem of the labor monopoly. The plight of small business In America is indeed serious. The definition by members of Congress of what is "small business" is in adequate. It usually applies to the businesses which employ less than 20 persons. According to the latest available figures, there are, for instance, only fl,8R7,O00 persons employed in the 3.Rfi5.oon estab lishments that have 20 or less em ployes. The figures show also there are 21,52.1.000 persons em ployed in the 4,0fi0,740 business es tablishments that employ less than 500 persons. This compared with 16.867,000 employes in the 6,560 business establishments that em ploy 500 or more persons. As for the various tax bills now being proposed for "small busi ness relief, they would mean a saving of $2,000 in taxes to each firm earning $25,000 a year and about $1,700 to each company earning around $50,000 a year. But the companies above those brack ets would be soaked to make up the difference in income to the treasury. Instead of reducing the corporate tax from its present rate of 52 per cent, the plans of those who claim to be concerned with "small business" would indeed penalize many hundreds of thou sands of such firms with a tax rate of 54 per cent. It is evident already that the present hich taxes are damaging many small businesses. For a company that is making $.'-00,000 a year in an industry where the big fellows are making $10,000,000 or more a year is really a "small business" and needs to be per mitted to put aside more and more surplus each year in order to buy up-to-date equipment and stay in the competitive race. Today liquid assets in American companies have been drawn down to the lowest point reached since the war years. That's because the small businesses and at the same time would have a favorable effect on the economic status of almost everybody employed. It would bring in the highest record of tax receipts ever collected from business since the income tax was enacted. (Copyright, 1957, New York Herald Tribune Inc.) pnnn MAN'S PHILOSOPHER Old-Fashioned Remedy for Delinquency Believed Best vrur vnnK in Amid all the suggestions on how to cure the nation's growing problem of juve nile delinquency, Dr. Laurence C. Jones otters a simple, old-fashioned prescription: "The only solution is to keep the young people busy. Give them something worthwhile to do. Then they'll stay out of trouble. Does this remedy sound too easy? Dr. Jones says it has worked unfailingly with 6.000 boys and jirls he has educated since 1909. In that year Dr. Jones, a north ern Negro with a college degree, $1.65 in cash, a few clean shirts and a lot of faith started the Piney Woods country life school. The site was a clearing in the woods 22 miles southeast of Jack vice Hu first desk was a stump, ifis first class conisted of three boys wno couio neuner nu nor write. The ceiling of his open air classroom was a cedar tree. Tndav Dr. Jones, known as "the little professor of Pincy Woods," and his "work-as-you- school are nationally famous, go' with Other educators listen soect when he says: "The boy gangs we have now are just a result of not giving our voune oeoDle enough to do, "They have energy and have to do something good or bad. In the old days they had chores. They don't have enough chores at home anvmore to keep them occupied. "You have to keep them busy. You can't bui d enough boys clubhouses to give (hem all the recreation they need. It would cost too much. But there are' plenty of public schools already built that stand empty at nignt. "Why not keep them open in the evening and provide them with programs to keep the young peo ple busy? It would be a big help." At 72, Dr. Jones, his brown face a lamp of kindness, is anxious to see more common-sense unaer- standing applied to the problems of curbing juvenile delinquency. In nearly a half century, helped by more than 50,000 individual Public Approves Spending $4 Billion in Foreign Aid (Director. PRINCETON, N. Eisenhower's new economic aid plan for the Middle East is likely to have the support of the Ameri can public, judging by the results of Institute surveys on the ques tion of foreign aid. In the latest survey, completed just prior to the President s an nouncement of his plan, 58 per cent of those questioned said they think Congress should continue the foreign aid program this year to help prevent other countries from going Communistic. This is virtually the same vote record a year ago in February when 57 per cent favored a con tinuation of foreign aid. The President's proposal which is coming to be known as the "Eisenhower Doctrine" asked Congress for authority to use not only economic aid, but also politi cal and, if necessary, military torce to oppose any soviet agres sion in the Middle East. Mr. Eisenhower presented his Doctrine to the Congress on January 5 and said of the eco nomic aid feature of the plan that "indirect aggression rarely if ever succeeds where . . . economic con ditions are such as not to make Communism seem an attractive alternative. In determining public opinion on inreign aid m general. Ihe Insti tute assigned its reporters to ring By GEORGE GALLUP American Institute of Public Ontnionl J. President door-bells of typical homes across the country and ask this question During recent years congress has appropriated about 4 billion dollars each year for countries in other parts of the world to help prevent tneir going Lommunisuc. Should Congress appropriate the same amount this year, or not?" Here is today's vote compared with that in February, 1956: Todav Feb. '56 Yes, should 58 57 No, should not 2S 25 No Opinion .. 14 18 Since the Korean War ended. U.S. appropriations for the Mutual Security program have run about $4 billion a year, on the average. The survey finds that the issue cuts squarely across party lines, with virtually no difference of opinion on the issue between Re publicans and Democrats. The vote by party affiliation: Rep. Dem. Ind. Yes, should ...59 58 58' No, should not 28 28 28 No opinion 13 14 14 Aee and "education play the greatest influence on how a per son feels about the issue ot foreign aid. Nearly two out of three per sons between the ages of 21 and 29 165 per cent! favor the proposal compared to 51 per cent of persons 50 aod over who feel mat way And nearly two out of three per sons with college educations (64 By HAL BOYLE contributions (both white and Ne, groi, he has built up a million, dollar endowment for his own, school, which now has aoo siu. dents, a faculty of 46, and a $250. ooo plant consisting of eight build. ings on i.iuu acres oi farm and woodland. For his efforts, Gov. Hugh White at a testimonial meeting in 1955 acclaimed him "Mississippi'! first citizen." To raise his annual budget of $80,000 Dr. Jones now travel. some 50.000 miles across the coun. try, makes as many as 12 speech, es a week to churches, civic clubs, educational groups. Some howhe himself puts his faith ia prayer he always manages to raise the money he needs, and without any foundation grants. If you work as if even-thin depended on you." he said, "and pray as if everything depended oa God well, it's a hard combina. tion to beat. "All our students they now come from 12 states could hi called underprivileged. If they have enough money to pay tuition, we send them home. "About half are from broken homes, and a fourth are orphans, "They work 3!i hours a dav, and spend five hours a day studying. We teach classes from the seventh grade through junior college. "Each student is taught not one trade but at least two and sometimes three so that if he can't find work at one trade he has another to fall back on. "We've had a lot of what art called 'bad boys.' But they all fall in line. It's the spirit of the place. Once they are given some thing worthwhile to do, we have no trouble with them. "Wo keep pretty close track ol our alumni. We havo no troubli getting them jobs, because peo ple know bur graduates don't mind rolling up their sleeves. Not one of our graduates, so far as we know, has ever gone to jail." Although most of his alumni re mained skilled craftsmen, others have gone on to become doctors, educators, lawyers, pharmacist and businessmen. "I never found a 'bad boy" who couldn't be made into a good man," said Dr. Jones earnestly. "But you have to teach him something he knows himself is really worthwhile. My own motto has been the saying of Socrates: '"Not only is he idle who does nothing, but he is also idle who might be better employed. Husbands in Danger Canby Herald In the U.S. of the 1830s a legiti mate question for serious argu ment was whether it was wise to allow women to become educated. "The woman who could write . . . might forge her husband's name: the study of geography would en courage her tc run away, and reading to neglect her home du ties." This we learn from a de lightful book "All the Happy End ings." by Helen Waite Pnpashvily ' Harper), which is a history of the "scribbling women" of the 19th century ... It occurs to use that the majority of the 1955 Oregoa legislature which enacted an emcr gency law prohibiting women from taking part in wrestling matches must have succumbed to this line of argument. Allow a woman to learn to wrestle and she might toss hrjubandmi his ear. w- per cent) are in favor of continu ing our foreign aid appropriations compared to 50 per cent of those with grade school educations who favor it. They are a hodse podse now of ihority. They're scalterrd all over laves are so hi;h that the amounts national banks, slate banks, rn- the lot now. ! set aside earn vear for surnhis Whether the dual system of lav? not enough to furnish the state and federal banks should ! funds needed for expansion with- vale lending agencies and govern ment credit agencies, with assort ed investment policies. There are 14.200 banks and more than 100 government agencies dealing tn credit. Some specialists In business think the Federal Reserve Board's control over the economy for ex ample, Its tight credit policy to keep down inflation is wrong, that it should be less Independent, more subordinate to the Presi dent S'Miie like the nrraitceincnt as continue as it is. The government's credit policies from top to bottom and whether tight or easy credit is best for the development of the country. Man of the Year Taxes it is. and like the hoard's anu Prinrps firace of Monaco and Prince Rainier are having ;will be increased in the ivnse that! inflation measures too scneouieq renuruons win noi ne honored. But the levy of new their first disagreement. The princess wants the baby to be a boy and the prince wants a girl. But the prince seems to be reconciled to a good Irish name for the baby, suitable to 0 Ktllyi rf Philadelphia, inattad of Heroult, ?MOQ Mftflitw yet to be in the Ba Oa tafUtloa Uber tua weaM be brake out drawing on working capital. Already many businesses have for this reason curtailed or abandoned expansion plans. This, of course, gives the big companies their chance to go ahead with new plant and equipment which, in turn, reduces their costs. Some dav Congress will wake un rorvRllh Cairtle-Tlnifs hind find out what is hanorninff tn Timr masanne has named the! "small business" in America and Hungarian freedom fishter as the Wtll bp compelled by event to cut nun of ihe ye.ir. SeMom ha. their a corporate taxes. If the rate selection been so tincoptnncrsial could come down aca:n to 35 per ! and we endorse it enthusiastically, j cent, it would help ail small The President could use the Those who fougl.t their lonelv and staffs of the government's van.Wowv battlf may h)Uf bwn the ous agencies to mak a studv of . . . ,, , . . . . , . the countrr i financial picture. I n 1,1 c( Sov"t imperialism and provldli.l rteommeodstiona which i ultimata tad of Soviet Com h could hand le Coognu. Jmtmlsm. . businesses arei would mean the biggest stimulus to employment America has ever experienced. It would permit the highest wage levels ever attained. For a tax cut cross to board would benefit till CONDENSED STATEMENT OF CONDITION OF 2715 South Commercial St., Salem, Oregon At Clot of Business Dec- 31, 1956 ASSETS Cash and Due from Banks $214,588.85 U. S. Government Securities 692,378.67 loans 540,066.33 leasehold Improvement! 22,547.93 Furniture & Fixtures 29,564.50 Other Assets 1,035.59 LIABILITIES Capital $ 100,000.00 Surplus , 20,000.00 Undivided Profits & Reserves 6,608.52 Total Capital Funds ... 126,608.52 Deposits 1,353,562.12 Interest Collected, Unearned 20,011.23 Total $1,500,181 87 Total $1,500,181.87 We are pleased to publish this statement if the clot ef our first 1 1 months of business. 1. C. PFEIFFER DIRECTORSi Richard A. Rawlinson, Chrmn. of Board Owner, fi.wlimoni C.plfil City Laundry L. C. Pfeiffer. President Chester L Chase, Vice President Arthur M. Ericsson, Vice President Preiident, Erkltien'l Super Merltett Reynolds Allen Allen Hirdware Charles A. Barclay Administrative Asmtant to City Manager, Salem Milan C. Boniface Owner, Aynbee Motori Coburn L. Grabenhorst Partner, GrabenHorit Bros., Realtors James L. Payne Architect William Schlltt Pretldent, Sanitary Service, Inc. Your Independent 100S Salem Owned Bank New Savings Interest Rate 2V4 Any Deposit mad by Jan. 15, 1957 bean interest from Jan. 1, 1957 Three Year Time Certificate 3