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About Capital journal. (Salem, Or.) 1919-1980 | View Entire Issue (Jan. 22, 1957)
Page 4 Section 1 THE CAPITAL JOURNAL Salem, Oregon, Tuesday, January 22, 1957 Capital AJournal An Independent Newspaper Established 1888 BERNARD MAINWARING, Editor and Publisher GEORGE PUTNAM, Editor Emeriti - Published every afternoon except Sunday at 280 North Church St. Phone EM-46811 FuD Leased Wirt Service or The Associated Press and The United Press. The Associated Press is exclusively entitled to the use for pub' lication of sll news dispatches credited to it or otherwise credited la this paper and alio news published therein. Oregon Cautious on Bond Issues "A recent edition of the Journal of Commerce of Portland says that in Oregon, contrary to the nation at large, there seems to be a rising trend against municipal bond issues. This is attributed to "increasing taxes, higher interest rates, and a more-than-average fall decline in such major industries as lumber. In Salem this cautious attitude is shown more by the voters than by the city administration that in 1956 proposed bond issues totaling nearly ?5 million. The people rejected such tilings as airport improvement, fire alarm system, and acquisi lion of ground for future parks, and approved only the items they thought more urgent, like water supply line, bridge build ing on arterial streets, and street widening, totaling some 54,078,000. With Salem's sound financial condition, and the cautious manner in which its officials approach expenditures, we still think that, as a long-range matter, it would have been econo mical for the people to have approved all of the proposed bonds. But that is water over the dam, and we only want to say again that the administration is fully cognizant of interest rates and the tax burden and is using care in handling the money that was voted. That is why the mayor has a special committee on water, which, among other things, will try to shape the bond money voted to the water supply project with out financial embarrassment for the city or increased water rates. The Journal of Commerce says that In the last general elec tion about 2'4 billion worth of municipal bonds were voted the country over, a figure that would have seemed fantastic a few years ago. It quotes the Bond Buyer, a publication devoted to munici pal bonds, as predicting that the annual new issue total of tax exempt bonds will near the $10 billion mark within, a few years. "One can hardly disagree with the prediction," says the Journal of Commerce, "due to the need for such public facili ties as schools, water and sewer systems, and other facilities." It of course sees little relief in sight from taxes or for lower construction costs. "The higher interest rales," it says, "are a symptom of other conditions which exist in our economy. However, the in terest rates on municipal bonds have reached a point where they now should appeal to a wirier range of investors, and this would be helpful if we can assume that bond issues will con tinue to cfimh. and that money will continue to be somewhat tight, or selective, for some time." S. S. Army Reserves Changes The Army announces revisions affecting National Guards men as well as other Army Reserves, effective April 1. Guards men will be required to take at least six months training or active duty, "based solely on military consideration." Until now the only youths enlisted in the Army Reserves have been required to take the six months active duly training, followed by seven and a half years in the reserve. National Guardsmen had the option of volunteering for six months of active duly. . ' Youths who volunteer for six months active training will be required to serve only four and a half years In the reserve, Instead of seven and a half years. This provision will be retro active to August 9, 1955, when the National Reserve Act was passed. Young men bofween the ages of 18Mt and 25 will hereafter be permitted to take the six months training duty with a sub sequent reserve duty obligation. This had been open to youths between 17 and lS'.i previously. . joutns who are dratted under the Selective service Act will De required to serve only two years instead of three in the ready reserve after they have served their initial two years on active duly. However, they will serve two years Instead of one year in ' the stand-by reserve. Pre-draft-agc recruits in Ilie National Guard need no longer re main in the guard until they are 28 but may be required to serve only lour and a half years in the guard after taking compulsory training. Draftees who complete two years of compulsory service will tie given sixly days lo volunteer in the National Guard instead of being assigned automatically lo the Army ready reserve units for their locality. The new measures were designed to "improve the combat readiness of Army Reserve components" and are recommended by Gen. Maxwell A. Taylor, Chief of Staff of the Army. The National Guard Bureau opposed the change. It has favored an active duly training of three months instead of six months, and threatens lo lake the issue to Congress. They fear a plot to "relegale the National Guard to a second-string position in national defense, if not to destroy it." The ready reserve is that part of the reserve force that at tends weekly training sessions and two weeks of summer train ing in field maneuvers. Tlicy number 1,883,000. The standing reserve is under passive obligation of availability. G.P. Income Tax Dilemma Oregon's Legislature, now in session, must do something about our mixed-tip income lax situation. We know that the lawmakers want lo do something about It, for they would like to see the taxpayers happy or should we say happier? Last year the taxpayers awakened with a jolt when the sur tax hit them on the chin at the end of the year. Few persons had figured just how much they would have' to pay at the end of the year, so when the notice came it created considerable wrath. Rep. William Grrnfell Jr., (l Portland, has Introduced a bill intended lo withhold most of the income tax from a work er's wages instead of the present 1 per cent with a balloon pay ment at the end o the year. This lax, Grenfell says, would miss the total lax by only approximately $20. The federal government in depression days set up an in come tax system that overtaxed the worker. The reason? So that irate taxpayers when they received their refund of $10 or $20 forgot their unhappiness. Federal tax men have ad milled this psychological trick. In Oregon we want no psychological tricks. We would like to have an honest income tax system. We want a tax system under which no one is favored, and all must pay In accord ance with his income with reasonable deductions for dependents. Rep. Grenfcll's proposal of a complete withholding tax has a point in us lavor mat lias not been mentioned thus far. A fully deducted income lax would take the lawful levy from transient harvest workers. How many of these transients paid their surtax last year? These workers are welcome in Oregon, bill they should pay their share of the taxes, for while lliev arc here thev are ac corded all the privileges of our schools and public services. M. T. NATIONAL WHIRLIGIG West Europe Shouldn't Rely On United States for Its Oil By RAY TUCKER WASHINGTON Western Euro pean statesmen are now debating whether they should rely on the Western Hemisphere, especially the United States, instead of the Middle East for a steady and per manent supply of oil for the long range future. The answer of au thorities in Washington and in the oil-producing states is a harsh "No." The Texas Railroad Commission and similar regulatory bodies in other oil-producing areas have had to reject requests for an increase in production of crude oil, which is in especially short supply here and abroad. Due to peak demands for industry and home heating in this wintry weather, there is such shortage that the price- had to be increased by 35 cents a barrel, When British officials complained about the price boost and the re fusal to expand output, an Inter ior Department spokesman replied- "Tell the British DeoDle that the independent Mate ot Texas is a good deal more Independent of wasningmn than the IndeDendent State of Britain!" British Look for New Oil Sources The new Macmi an Ministry has been forced to search for new sources of oil. bolh temporarily and permanently, because of the danger of future blockades of the Suez Canal. It does not feel that the problem will be fully solved when the waterway is reopened. It does not trust Colonel C. Abdel Nasser, and It fears that he cannot be overthrown in the near future. In view of the vicissitudes and uncertainties of Arabian politics London has reached the conclusion that it can never again rely too heavily on the Middle East for the life blood of industry, shipping and national defense. It doubts that the new Eisenhower Doctrine will bring permanent peace and eco nomic stability to this area, based on its own sorry experience "East of Suez." Oil Men Here Refuse to Overproduce Other sources under considera tion at 10 Downing St., are the United States, Venezuela and In donesia, with Canada and Mexico as potentials. But the firm res ervoirs are this country and Ven ezuela, whose shipping lanes to Europe are relatively invulnerable to Hussiati submarines and planes. ' American producers, however. refuse to overproduce end deplete tneir reserves to sell to a British market which will collapse in six months, when the Suez Canal is operating again. They have of fered to sell at premium prices for a short emergency period, or to negotiate long-term contracts. The British people brand this proposition as a "typical Ameri can money-making squeeze." But their official negotiators regard it as reasonable, and a necessary precaution for producers and con sumers of this vital national prod uce. They have taken role of re cent price increases of gasoline and crude, as well as threats of in vestigation by Congress, Political Factors Weighed Far-reaching political factors warn against British abandonment of the Middle East market. With oil as the principal revenue for many Arabian states, its loss would produce such poverty and desperation that they would be come easy marks for Russian in vasion or infiltration. These considerations lie behind Eisenhower's new Dratrram for that region. He does not want the de pletion of oil resources that would result from such a radical shift in the pattern of the petroleum market. We need vast stores for a possible war with Russia. Nor does he want to throw the Arabs into Communist arms by repriv ing them of their billion-a-year in come from their "black gold." (Released by McClure News paper Syndicate) Threats of War Constant for World Since Days of McKinley By DAVID LAWRENCE WASHINGTON - Inaugu rations come and Inaugurations go dui wars or threats of war seem to go on forever. Every adminis tration since the turn of the cen tury has been deeply engrossed in the problem of war either through the participation of American troops or through efforts at dis armament and the prevention of enlarged conllicls at arms. All in a W eek's Time The uncertainly of life has dealt harshlv with northwest newspapers. All within a week. '30" has been written on the careers of the editors and publishers of three of this region's best dailies. First it was Jack Bladine of the McMlnnvllle News-Register, who brought wide recognition to his paper. Next was Bernard Mainwaring. dynamic head of the Capital This is the tra gic atory ever since William McKinley w as In augu rat- Prcsident o n March 4, 1901, even as Ameri can forces were still in Cuba and the Philippines and at other out posts in the Pa cific following the Spanish-American War of 18H8. On March 4, 1905. when Presi dent Roosevelt was inaugurated, the war between Russia and Ja pan was raging. It was settled through the Intervention of the President with a peace treaty signed at Portsmouth, New Hamp shire, in September, 1905. Then in 1907 a peace conference of 42 na tions met at The Hague and talked about a world court but got nowhere. On March 4. 1008. when William Hovnrd Taft was Inaugurated there was a delicate situation with Japan as Tokyo and Washington officials had been jockeying for a restricted submarine warfare Meanwhile in Europe France and Belgium soon moved Ironns Inin the Rhineland to cnlorcc the pay ment of German reparations. A situation began to develop which oecame more and more critical for the whole world. On March 4, 1925, President Cool idge was inaugurated after having succeeded to the office at the death of President Harding In Auaust 1923. The period was marked by efforts to get universal approval of the Kellogg -Briand Treaty to "Ollllnu," wnt-e , ...... : v. . ,o u, aKI l-HMUTl. Dill while 62 nations signed it. nothing was pieagea Dy any country as to wnat action would be taken if an aggressor did start a war. On March 4, 1929, Herbert Hoover was inaugurated President. He strove for world peace and sent American delegates to Geneva for an international conference on limiting armaments. But the con- ference failed. In 1931 Japan moved into Manchuria and Secre tary of State Stimsnn in vain called upon Britain and the oilier powers of the world to denounce the aggressor and do something about it. But the efforts failed ami the aggressor went unchecked. On March 4. 1933, when Franklin D. Roosevelt was inaugurated. Adolf Hitler had alreadv hernme dictator in Germany a few weeks before. Then the sequence of events began that led to World War II. Italy invaded Ethionia. The League of Nations faltered. Hitler seized Austria and then Czechoslovakia. Mac's First Job- H1S HAR&eSTf i pnnn MAN'S PHILOSOPHER Murray Cohen Waxes Wise on Business of Making Millions 'I. yikStrSfroaM Staehatt. . we" .-'vrgi pw I, lit Historic Contrast Seeii in Second Inaugural Message By JAMES MARLOW Associated Press News Analyst WASHINGTON Ml - President Eisenhower's two inaugural ad dresses, placed side by side, con' jure up a single vision: that of a whole line of presidents who in tho years ahead may have to say the same thing, The words of Eisenhower's sec ond inaugural were different from his first in 1953, but the central theme was identical: the struggle cgainst communism. Communism suffered some re verses this past year but this country seems no nearer to vie tory over it or even to a peace fid understanding with it than it was four years ago when Eisen hower first took office. The end to the struggle Is not in sight. The picture may be the same when a new president takes otiice on Jan. 20, 1961. or in 1965. or in decades alter that. Eisenhower's address yesterday tun oi platitudes and moraliza tions. doesn't compare in style or in the hope It offered with what are perhaps two of the most fa mous inaugurals in history. Lin coln's in 1865, Roosevelt's in 1933. But the circumstances were dif ferent. And nothing illustrates bet ter how much American thinking has changed in a quarter of a century than reading Roosevelt's inaugural 24 years ago and Eisen hower's yesterday. better balance of interests in the ""J" ""i ?nns.ovaKia. Far East. There were troubles in 7 ,nmL i r C!nn' Latin Amni-lr-. too am) Am. m . "J- 'M-saw Communists and erlr.r, Vnrin.'. . innHin. in anii-Lommunlsts from other coun- erican Marines were landing in Tr n,riiH.in . threatened in 1911 a, w., nan I "nd JaPn formed a m.h- mk n!lar? alliance which was to be s mobilized ni broken up only after the worst war Woodrow Wil- in.nL' hi;",ry-' Ho0!M,lt ' ' cents to make the retail price d 11 wlst a'i,.g " d V ml " !hf ,w"rld c,s all0. lncluiini! a 3 c d-a?.)u?t i was moving toward a global eon- stat. lay threatened in 1911 as a large part of our Army was mobilized in exas On March 4. 1913, son was inaugurated, few weeks after President Madero of Mexico had been assassinated and Victorian Huerta, the dicta tor. came to power an event that Salem 3.3 Yrs. Ajro By BEN MAXWELL Jan. 22. 1924 Nicholai l.enine. premier of Soviet Russia, had died. Said a Capital Journal editorial: "Lenine's creed was that the end justified the means, any means. ue was a demagogue, but with a program. He was heartless, piti less and cold, did not hesitate ti slaughter those who stood in his way. He was utterly ruthless in his efforts to enforce his theories ' lhe American people! Lincoln spoke just- a few weeks before the end of the Civil War and could point back to one of the milestones in American history in his first four years the end of slavery. He also could point for ward lo victory and peace. Roosevelt's first inaugural, de livered in the blackest moment of tiie depression, did not rely on hope for the solution of the na tion's ills. It promised "action, and action now." It mentioned "hope" only once, and indirectly. The action Roosevelt offered meant a profound turn in Ameri can life and history: government controls on business and govern' ment assumption of responsibility for the welfare of the people. It was the beginning of a new Amcri' can era. Not so with the address of Eisenhower, whose problems are worldwide and who, by that very tact, lacks the control and author ity Lincoln and Roosevelt had in dealing with purely American dilemmas. Eisenhower offered "hope" things' would get better but noth ing new in the way of action. The action he promised military strength and foreign aid were al ready American policy before he took office four years ago. The one quick, possible solution which Eisenhower might seek war on Russia is the one he wants most to avoid. His succes sors no doubt will likewise seek to avoid it if they can. Roosevelt, an isolationist when he took office in 1933, talked in his first inaugural to a cotintrv which had deliberately decided years before to isolate itself from the rest of the world. A, though Roosevelt used the word "interdependence" twice in - early this month ins i;au .l.lll iss, II nils IHU 111 0 world sense. On the contrary. He was talking only of the interde pendence of the 48 states and of Gasoline prices had advanced 2 20 uivi. jiipnn DPgan ner war against China that same year. Rev. H. D. Chambers, rector of Due to the world situation, the!Sa,em s St- pa' church, in a An..-...- j: tnrmAn aA Mnrliirniiiut lk nA of Vera Cruz by American mili-I tary forces in order to forestall an attempt by a German ship to sup ply arms to Huerta through that port. Within seventeen months World War I broke out and Amer ica found herself in a critical pos ition as the Kaiser's government started lo sink American and other nculro' ships with a loss of many lives of innocent non-combatants. On March 4, 1917, Woodrow Wil son took his oath of office pri vately on Sunday and was publicly inaugurated the next day in the midst of a crisis that this corros ponlent described at the time In ins dispnch as follows: "There is no disposition this time, as four years ago, to pro long the merry-making. It is a confining presidents to two terms ' hring B'"-v Sunday to Salem. Said and elected Franklin Roosevelt to ""' Chambers: "When the pulpit a third and fourth term in 1940 "M tc degenerate Into a place of and 1944. respectively. America I sensationalism and emotionalism entered World War li in 1941, and on!er 10 compete with worldly suffered more than 1.0UO.0OO 'casu-!i,1!,'nc'e " is 'm ,0 admit fail allies, lure." The world crisis continued as President Truman took over in 1945 He was inaugurated in 1949 They Say Today Quotes From The News By UNITED PRESS WASHINGTON: President Ei senhower pointing out a float dis playing a small satellite circling the globe for Mrs. Eisenhower dur ing the inaugural Day parade "Would you take a look at that. That is wondertul. WASHINGTON: Movie cowboy Monty Montana, who lassoed. Pres ident Eisenhower during the 1953 inaugural parade but was warned not to do it again during this pa rade, calling to the President: "I can't get you this time." KEARNEY. Neb.: High school principal Louis Ninegar warning male pupils that anybody caught wearing an Elvis Presley hairdo would be expelled fron. school: "1 will not tolerate any more foolishness either in or out of school. If I've got to be responsi ble for your actions, then I'm go ing to be your daddy. VENICE. Italy: Judge Mario Ti- beri forbidding photographers to take pictures of the trial of the son of a former foreign minister, a onetime Rome police chief and a self-styled marquis for the death of party girl Wilma Montesi: "Venice is famous for hundreds of tourist spots. You have plenty of places to photograph, but don t do it here or I will be forced to prosecute you. NEW YORK: Joseph Koevago, mayor of Budapest during the anti - Communist uprising in No vember, haltingly asking in broken English for direct aid to Budapest: Our people fought to tho point of suicide and now they need something to justify their faith and hope." LONDON: Mrs. Duncan Sandys, daughter of former Prime Minis ter Winston Churchill and wife of E.itain's new defense minister. announcing she left her husband 'I have parted from my hus' band. I have no othei comment to make." PARIS: Ingrid Bergman re- When Eisenhower delivered his turninc to Eurone after her first first inaugural address in 1953. he; visit to the United States in seven too used interdependence but in 1 years a completely opposite sense from Roosevelt. By that time this coun try had moved from isolationism t' world responsibility. He even went so far four years ago as to speak of "interdepen dence" among nations as a "basic law." He returned to the same thought yesterday when he said: "'The economic need of nil na tions in mutual dependence makes isolation an impossibility." It was all like a dream. Peo ple I can never thank enough covered me with flowers and gifts. I was very moved. INEVITABLE Shep.nan County Journal Several magazines have stopped nuhlication for financial reasons, It looks like too much overhead finally brought the inevitable end Money expended for elementary and secondary education in Ore gon In 1922-23 aggregated 117.060, 151. Salem Kiwanis club had gone on record for stricter enforcement of Salem's curfew law. On his day 33 years ago Capital Journal carried a special notice more than l.ooo.ooo boys to par-l'o 'he Improved Camels of the tieipate in t'-.e bloody war in Korea ; World. Salem council No. 1: All rfcrrr. h o i ih, eenir. f all ,hl rel dOTlc ,0 persuade nations to re- Portance would be transacted Ray-hr-Ln i . i J.L t .1 ' '"in from fighting each other in!mond Burke, president; Johanna . .i ... .. war has continued throuchout the Woodward, secretary. In the midst of desperate efforts ro lave Europe from economic col lapse. Also 12 nations, including the United States, organized the NATO alliance. Just 18 months after his inauguration came an other crisis in the Fai East as America found herself sending A dangerous international situation Impends. It cannot he got out of mind. Wherever lhe groups of poli ticians, state officials, or congres sional (old gather, the topic is ever: What will the President do Lllhmit tl... nr.,....., .f -II .n n" ' " " '". I,HHI. V..t .m in V,.,. I-.. extra session, and international i Tv ' d alf.ws gener illv-" r 1 Cl Th" happens because politi- The answer 'came lust S3 davs cam. nn.'dl1-v busy later when ih. PresiiW ak.-H ! People, lazy people, people tin- decades. It is reflected in the policies of President Eisenhower as expressed in his inaugural ad dresses in 1953 and 1957. But the world still moves to ward more crises now in the A Smile or Two Congress to rat.fy a "state of war' with urrmanv. On March 4. 1921. Warren Hard ing was inaugurated President and he called a disarmament con! The old lady had lost her purse and rushed into the police station to report her loss. The kindly officer sympathized with her and said reassuringly. "We'll leave no ston- unturned ware of the fads of historv. and mt" w ' madam." people who do know the facts but ' A ,he lf" ,hp building, she are afraid to stand up for princi-' n0"d workmen busily tearing up pie preferring instead to abandon lh,f J'reet. and said to herself. moral principle for appeasement "Well, they didn't lose much time. , , . , . . . ne calico a oisarmaillenl comer-1 i 'i"v s-i'f ."i-im-iu .... : . . . ,. Journal, aggressive and growing newspaper that is peerless ence o( he n)lior ., COn-!d' n support the efforts of their1'." - mat for them! -Wall lii a ; : i i . . l . i .-! SIrcrt .Inn men among publications of its class, erned with the Pacific in an ef- government, here or in Bri And at Walla Walla yesterday died Roland E. Miller of the 'ort to stabilue conditions in thnt i ,aln nd France, when it docs seek Union-Bulletin, one of the best-edited and most prosperous of Washington s smaller dailies. All rated high among the editors and publishers of the BorthwesL S.S. area. Limitation of naval arma- '0 resolute and to make the ment was agreed to along with indispensable preparations that several treaties pledging mutual must be made to deter an attack consultation. There was a pact tojby an aggressor. Unwittingly good bar the use of poison (as and un-i people, brave people, by their su perficiality or indifference, allow conditions to develop which lead inevitably lo war ICopvrlght. 1957. New York Herald Tribune Inc.) FUNERAL DIRECTORS "Salem's Pioneer Funeral Home" Established 1878 Need for Economy Will Never Deprive Anyone of the Dignity and Sacred Simplicity of Our Services Salem's Largest ' Funeral Parking Facilitiel Completely Privote Family Parking Advance Inquiry Invited EM 3-9139 Dr. L. E. Barrick Vera I. Barrick Donald L. Barrick, Mgr. Delbert R, Downey aifcc& M - fiMflAt HOME vrw YORK un "The reason many uneducated men make suc eesses in business," said Murray Cohen, who never finished gram mar school, is tnai suDcon.-ioua-ly they seek security in money. "But I never laouzeu inuhcj. it u Cohen, who is as calm and restful as a bottle ol benze Hr,n nills. really is a millionaire who probably doesn't idolize mon ey. How can you idolize some thing you are mamns " don't have time to count it? There ore a number of unusual things about Murray, who is a blue-eyed, sandy-haired philan thropist and businessman who was born poor on the lower East Side and still wears the air of surety of one who broke his knuckles young, but still won. For exam ple: He went to work selling paper and twine at 14, and four years later was earning $40,000 a year selling laundry machinery. He lives in a suite in the Wal rlnrf Towers, and is the only ten ant there who does his own laun dry. He is also a bachelor who wash es 30 million diapers a year. He is. as a matter ol lad. pres ident and hoard chairman of Con solidated Laundries, the world s lamest firm in lhe field, and King pin in the nation's 400 million dol-lar-a-year linen supply and laun dry industry. In 1943 when he moved in ano took over control of the company he was hailed as the youngest top executive of any firm on the New York Stock Exchange. It was losing money, and go- inc downhill." he said. "Its an nual business was about six mil lion dollars, and it hadn t paid a dividend in some 10 years. This year we'll do 22 million. How did ne do it? inis Cohen's explanation: I did it by molding the men I found there when I took over the firm. I didn't bring in men from the outside. 'We had about 2,000 employes then, and we have about 4,000 now, plus 800 trucks. All the managers of the 23 plants we have today were route delivery men or route supervisors when I came. "1 told them at the start their jobs were secure as long as I was there, but il was un to them to provide the kind of security that would per meate through to their families. "I put in insurance, pensions. and stock purchase plans. The measure of my own success is how many men I can help make successful. But I ve been a sales man all my life. 1 believe in ring ing doorbells, and that if you pound pavements and ask for business, you'll get business. So when they started to tell me what they'd been doing, or showed me a sheet of figures, 1 told them, T don't care what you did that's up to you and the only figure m interested In is the tmai one at the bottom of the page." Cohen, who docsn t mind ad mitting he enjoys playing hard. By HAL BOYLE also says he has Kept the first promise he made to the men in his firm: "1 will work harder than any of you." The results show somebody or something worked: Cohen now has 250,000 customers, a customer be ing the mother of a new-born baby, a hotel like the Waldorf, or a whole chain of restaurants such as Longchamps, one barber shop or a series of beauty parlors. "The rental of towels, napkins, tablecloths, and service uniformj is the big thing today," he said. "Dry cleaning and the handling of home laundry are minor com pared to it." "But diaper rentals interest me. Don't ask me why I never got married. It's a long story. I met a lot of girls I liked for two weeks, but then, somehow-.,well..." "Babies interest me. We've found the average baby uses 100-10-120 diapers a week. The record was 320 a week. He was a boy. Al first we thought the family must have had triplets. "There are a lot of angles to this business. ..We own 10 million dollars worlh of linens, as we call cotton goods., we've got a new diaper now shaped like an hour glass inslead of square. ..more ef ficient... "You know how to deal with employes first, make them have a real sense of belonging to your organization to give them emo tional security. Then over-pay them that gives them financial se curity. Nothing makes a man feel more secure than being over paid." Then Cohen, who is reported worlh 15 million give or take five million, remarked with the brood ing air of a man who would like to have everything in life, and is still unreconciled because h e can't: "You know, I never went to college. That can give you an in feriority feeling." IMAGINATION John Dryden Wit In (he poet is no other than the faculty of imagination, which, like a nimble spaniel, beats over and ranges through the field of memory till it springs the quarry it hunted, for. ' RUBBER STAMPS NOTARY a CORPORATE SEALS I made to order in our shop NEEDHAM'S HMHtmua 465 STATE ST. PHONE EM 2-2485 Save at ! U.S. National Bank 205 S. CHURCH AT FERRY Sove vvfh bank safer and earn this new, higher rat al U. S, National INTEREST oo 3-yr. Certificates of Deposit issued after January 1 interest paid semi-annually. MMisf nenst mkst sXwianci coaaounoM 4 Convenient Branches in Salem IADD & BUSH-SALEM BRANCH UNIVERSITY BRANCH State and Commercial 1310 State St. NORTH SAIEM BRANCH 1990 Fairgrounds Rd. WEST SALEM BRANCH 1117 Edgewjter THE UNITED STATES NATIONAL tWUUt V FOATIANO 0