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About Capital journal. (Salem, Or.) 1919-1980 | View Entire Issue (Feb. 21, 1957)
Capital iAlJournal " AN INDEMNDINT NIWSPArH-IITAIUSHID IN 111! Bernard Mainwarlng (1897-1957) Editor and Publisher 1953-1957 E. A. Brown, Publisher Glenn Cushman, Managing Editor George Putnam.Editor Emeritus The Capital Journal's policy Is to print all the news in Salem and the surrounding 'area with com pleteness and Impartiality. On this page you will find the views of our editors and comments by the general public on matters of importance to the community and the nation, published with the view that le Capital Journal is first A CITIZEN OF THIS COMMUNITY. Ouch! A Sales Tax!! To begin with the Legislature looked upon a sales tax as anathema. On the surface at least it still meets contemptuous scorn in that body as a thing of utter evil. And yet a sales tax has been introduced. By whom? The House committee on taxation, no less. The State Tax Commission sires it, but its mother and sponsor is the tax com mittee. It calls for a tax on the selling price in real estate transactions. The bill carefully repeats that this includes standing timber. Presumably the seller and not the buyer is to pay the tax, but it's still a sales tax. A neat subterfuge is that some of the law makers put it in the category of property tax, and since Oregon has a policy against state property taxes, the bill would give its revenues to the counties instead of the state. The proposed tax is one-half of one per cent on the selling price. Selling price, says the bill, "shall mean the consideration, in money or anything of value, paid or delivered on contract to be paid or delivered in return for the transfer of real property or estate or interest therein, and shall include the amount of any lien, mortgage, contract, indebtedness, or other encumbrance given to secure payment of the purchase price or any part thereof, or re maining unpaid on such property at the time of such sale, including the amount of any lien or encumbrance existing against the property and agreed to be paid by the pur chaser, but shall not include the amount of any outstanding lien or encumbrance for taxes, special benefits or improvements in favor of the United Stales, the Stale of Ore gon, or any political subdivision of the Slate of Oregon, or a municipal or public corpora tion of this state." The seller is defined as "any individual, assignee, receiver, trustee in bankruptcy, trust, estate, firm, copartnership, joint ven ture, club, company, joint stock company, business trust, corporation, association, so ciety, or any group of individuals acting as a unit, whether mutual, cooperative, fraternal, non-profit or otherwise, but shall not include the United States, the Stale of Oregon, politi cal subdivisions of the Slate of Oregon or municipal of public corporations of the state." The seller would be required to file three copies of an affidavit with the county clerk covering all details of the transaction, one for the clerk, one for the assessor, and one to be relumed to seller. These would be confidential records, though the lax com mission or the board of equalization might have a look at them if necessary. Penalty? 0, sure. Fall to file that affi davit and they'll fine you from $10 to $50, or if somebody accuses you of swearing falsely and proves it to the satisfaction of the court the fine will be from $100 to J 500. If the tax isn't paid in 30 days it will bear interest at one-half of one per cent per month, and the interest will be added to the tax and like wise bear interest. And, by the way, the clerk or recorder won't record a deed of the sale untl the tax is paid. There was a time when the Legislature teered clear of what was called class legisla tion. It was unconstitutional, they said. What's happened to that old principle? Partnership Power Plan Interior Secretary Seaton in his annual report just Issued made a new plea for the Elsenhower administration's "partnership power policy." This policy was first an nounced by his predecessor, Douglas McKay. The policy stems from the administration's pledge to let local public and private interests, working in partnership with the Federal Gov ernment, handle power development when ever possible. This contradicts rumors thai the partner ship policy had been abandoned, though Sec retary Seaton has repeatedly advocated it. He said: "There are a great many smaller projrets with Iremendnus Implications lor the (uture. which the people of the West can and undoubtedly will build (or themselves often by Individual or cooperative action among themselves and. when occasion re quires, in partnership with the Federal Govern ment." Mr. Seaton warned that the cost of Fed N eral irrigation and power projects is going i up, along with other things. Most of the simple, inexpensive projects have been built, he declared. "Today it is clearly evident thai the unit costs of most future reclamation work will continue to rise." The secretary said as costs go tip. water users will find it harder to pay for their share of new reclamation projects. The in come from the sale of electricity generated at Government dams will have to bear an in creasing share of the cost of Federal reclama tion projects, he added. "Since repayment Is the foundation of the re clamation program," he declared, "the return by beneficiarirs ol Irrigation of their fair share of the cost mustenntinua as a primary requirement How ever, it seems problematical whether many major water developments of the (uture can he under taken which can he completely repaid by the water user ... It is apparent that we must con tinue to look to power, even more In the future than in the past, as the paying partner of reclama tion." CP. Senate Debacle? Another hiatus Is In prospect for the Ore gon State Senate, this time in mid-session. Why? Mumps. Pressure groups and lobbyists who have their dcpendablcs among the lawmakers have been warned that any member who hasn't had the mumps Is a poor risk. He may not be around when needed. The young son of one of the members has been fraternizing with all of them, it I reported ,and now the boy has the mumps. They've all been exposed, and a general on tlaught of the ailment it imminent for all, that is, who haven't had 'em. The senators are all checking their life histories to see how they stand. Fifteen out at one time would bring a legislative debacle. Mumps is (or do you say "are") a non dangerous ailment that nevertheless puts a man on his back a week or two just as abundant caution. Otherwise the disease may further expand its visit. ' KAY TUCKIiR RAY TUCKER 'Hair Curlers' in Washington Alarmed WASHINGTON The depression "hair curlers" at Washington have become pro voked and alarmed over growing conserva tive criticism of the "swol- wpasSBWfjr jen jMsemiuwer ouugei anu jibes that the Administra tion has "gone New Deal ish." They murmur, al though privately, that the friendly but suspicious crit ics are biting the hand that made them prosperous and freed them from Demo cratic competition, controls and crackdowns. Although Secretary Humphrey now re grets his "hair curling" remark, and seeks to make amends by restoring public confidence, the current efforts to repair the damage are being made by lower-level but responsible economists. They are holding secret seminars all over the Capital with businessmen and newspapermen. Their alarm derives from. the recent dis play of Wall Street jitters, where blue chip stocks dropped sharply after expressions of concern by Humphrey and Herbert Hoover. Officialdom has also been shaken by the prospect , that its fears may be reflected in cutbacks in industrial expansion plans, cur tailment of purchasing power and general slagnation. Washington's Walling Is Resented Ironically, il is F.D.lt.'s "economic royal ists" who resent Washington's wailing most bitterly, even as they condemn the Admin istration for so-called "extravagance" and for expanding Roosevelt-Truman services and re forms. In recent statements, such Republican institutions as the United Slates Chamber of Commerce and the National Association of Manufacturers have indulged in this kind of criticism. But the most devastating indictment came from a business and financial magazine edited by a former Eisenhower economic adviser and a man once mentioned as a possible Cabinet member. It scoffed at talk of a "de pression," , and taunted Ike, Humphrey, Hoover and Weeks for their contradictory comments on the current and future state of the country's economy. It concluded with the biting remark to the effect that "too many jawbones are rattling" at Washington for the nation's good. In view of the source of this criticism, this is politico economic heresy, Soothing Analyses of Budget Here are a few of the belated and second thought soothing analyses of the $71.8-billion budget and the Administration's trends now being distributed by official spokesmen who must be nameless: Although the budget is the highest In peacetime annals, it Is balanced, and infla tion rarely occurs under such conditions. The Government expects to spend less than it receives in revenue. Gross national income has risen by 12.5 per cent, Federal spending by only 11 pdr cent in two years. Population has increased by 11,000,000 in two years, with no sign of a letdown. The labor force has grown by almost 4,000,000 with constantly Increasing wages and savings, and with a minimum of unemployment. Al though Ike has reduced the number of em ployees, the cost has hijen boosted by salary increases granted by Congress. Heavier Demand for Public Services Although the demand for public services has become heavier, they were, of necessity, neglected during World War II and the Ko rean conflict toads, schools, hospitals, re search of all kinds. The expanding population and changing social and economic conditions, according to this viewpoint, require greater and more expensive government efforts to ameliorate the new strains and burdens on its citizens. The Communist menace and our major Allies' military inadequacies get the princi pal blame for peak expenditures. Push button warfare and weapons grow more costly day by day. National defense national security accounts for more than 00 per cent of the hudget. Paying for past wars alone there are 22.000.000 living veterans exceeds the total of Hoover's budget, as does the inter est on the national debt. Both are about $7 billion. For (Juirh Reading Ponsonhy Showed Win British Diplomat Viscount Ponsonhy was for some years the Ambassador at the Court of Constantinople, then dominated by the Sultan of Turkey, an absolute monarch. The Sultan subjected the diplomatic corps In repeated indignities, and at one time got it Into his head that the diplomats were not showing sufficient humility when ushered Into his presence. To correct this, be had a very low door built, through which they would have to crawl to enter the throne room. Ponsonhy made the Sultan rearet this. He crawled through the door, as directed, but crawled through backward. When the Sultan saw the wide expanse of breeches looming Into view, his fare turned purple. Rut be got the point, and the ioor tfitobutiwd. ftl,wJii.ujul. o o JAMES MARLOW T Bi-Partisan Policy Has Been Split By JAMES MARI.OW Associated Press News Analyst WASHINGTON m President Eisenhower's meeting with con gressional leaders was an encore. He met with them 51 days ago on the same p r o bl e m: the Middle Last. In that time the problem h a i & deepened. So has confU' slon over this country's think ing on the Mid dle East, includ jamki MABLowing Israel. For SI days the administration or, rather, Secretary of Stale Dulles has talked almost continually on the Middle East. In that time the cherished Dem- crutic - Republican bipartisanship on foreign policy has been badly split. And Unites has been treated to the most angry Democratic criticism of his four years in of fice, even to being called a "liar." .Should Have Talked Less If Dulles had talked less, and more to the point, there would now be a clearer understanding at home and abroad of what the administration has in mind on the Middle East in general and Israel in particular. Instead of letting Democratic congressional leaders he the first to know of the program and tell how they felt, the administration meaning Dulles' State Depart ment "leaked" it to a news paper Dec. 28. Democrats have Indicated since they consider this an attempt to buna up public pressure on them for approval before Eisenhower ever asked for their views. His program was a three-in-one pack age, lie wanted congressional ap proval lor: Who'll Get Economic Aid? Huge economic aid to the Mid dle East, although who'll get it, and how and why, is not clear; gifts of arms to certain Middle Lastern countries: and use of American armed forces to- stop Communist aggression in the area. . There followed many days of testimony by Dulles and other ad ministration officials before con gressional committees, publicly and nelnnd closed doors. In all he said Dulles followed one consis tent line: vagueness. It irritated Democrats. 1'hc House has approved the program. The Senate, starting de- nnie on it this week, will prob ably put some strings on it. Meanwhile, something else had been happening. Israel had ignored the United Nations' demand that it quit ter ritory claimed by Egypt, con tending it first must have guar antees against Egyptian attack. The Arab members of the U.N. were getting set to ask for sanc tions against Israel for defying the world organization. Hasn't Sanctioned Russia But the U.N. has not even con sidered sanctions against a big power Russia which ignored the U.N. demand that it get out of Hungary. ' Israel not only Is a friend of the United States, which helped create it, but has a lot of friends in this country, including members of Congress, who oppose sanctions against it. But if the United States refuses to vole sanctions against Israel, it would antagonize the Arabs at the moment the administration is trying to win them over with Ei senhower's program. In the hope of avoiding such a showdown, Dulles asked Israel to pull buck its troops. Rut Israel re fused Dulles just as it had refused the U.N. Now the squeeze is on. The Democratic Policy Committee in the Senate voted unnnimously yesterday against sanctions on Is rael. And Eisenhower's own Re publican Senate leader, William Knowlnnd of California, has come out flatly against sanctions. Dulles will now have to talk his way out of this one, or get in deeper. 1 Hlue Klumlei Albany Democrat-Herald The Air Force has crash landed in full public view because the master pilot forgot to check his fuel supply. Hie fuel in question ts money and the belly-whopper is the goof on moving the interceptor base Irom Portland to near Woodburn. A year ago the Air Force wept elegant tears about its plight in Portland. The high brnss said these things: The runways weren't long enough for razzle dazzle jets. The surrounding ground area was heavily populated and In danger. The held and the approach lanes were overpopulated by the airlin ers which share the lield People objected to the jet whoosh. So the Air Force look a look at areas near Tangent. Corvallis and Sheridan, and then picked the Woodburn area. Colonels made no- eo-awnv gestures at farmers oc cupying the ground, pounded stakes between the oats, peas, beans and barley, and mumbled all sorts of settler noises. Then, rather than $1? million or whatever was expected, the Air Force got nothing. Now Portland is just line, if the runways are lenulhened. If we were one of those Wood- burn area formers who has pre pared for the past year to fold up the family teni. we d still fold it and march on Washincton. We'd look for the blue-uniformed racle eved adventurer who walked into the Wilbmette valley with a rub ' CI) o It's Still Not Clear V (HAL BOYLE DAVID LAWRENCE If Industry Labor Costs Continue to Spurt Ahead, Profits Will Be Wiped Out WASHINGTON-I n d u s t r y is falling behind in the race with ris ing labor costs. The rate of profit after taxes is going down. Figures are becoming available from more and more companies, telling what happened In 1956. This is what s back of the recent wave or worry. While it is gen erally conceded that no depres sion is immed iately ahead. there are (indi cations of con siderable IB- xiety that, un less the trend is reversed, the profit margin will be wiped out in the next few years for many companies- in industry after in dustry. This may become true especially for those businesses unable to borrow money for more up-to-date equipment or unable to finance such purchases out of ac cumulated surpluses. Wage Costa Too High The story of what has caused 0 D. LAWRENCE this downward trend In profits can be given in a single sentence: in dustry's wage costs have risen by 212 per cent since 1939 and, despite new machines and improved methods, productivity per man hour has increased only 41 per cent within the same period. Unless companies can get more production out of their increased costs either with or without new machines the rising labor costs will inevitably wipe out profits. Steel 'Profit! Are Reduced Thus, sales in the U. S. Steel Corporation in 1956, as compared with 1955, were up 3.7 per cent and total outlays, including labor, rose 4.6 per cent and hence profits after taxes were down ( per cent. The Monsanto Chemical Com pany, one of the biggest in the chemical field, reported sales up 3.8 per cent, expenses up, 4.8 per cent and profits after taxes down B.5 per cent. In automobiles, the Ford Motor Company report shows that sals were down 16.9 per cent but ex penses were down only 14.5 per cent, so profits, after taxes, came down by 45.9 per cent. DR. WILLIAM BRADY Lists of Special Foods Are Misleading, 'For the Birds' Once when I was an intern one of my classmates, already in prac tice, called our professor of sur gery in consul tation, and thej professor invit ed me to go a-j long for the ride, a hundred miles downslate. At the farm house we found youth withifj' appenaicius. I gave the ' anesthetic, my . classmate as- '" sisted and the professor operated in the kitchen, successfully. The professor's fee was modest, al though it seemed fabulous to me m pay as intern was $10 a month. But what impressed me most was the professor's instruc tion to the patient's mother pre cisely how to prepare chicken jelly to be fed, in leaspoonful doses, beginning next morning, gradually increased from hour to hour . . . I thought it was wonderful, and apparently the patient's family and relatives did too. Made An Impression A few years later 1 paid a vist to a doctor who had been in prac tice about six years. He took me along on some of his calls. He, too, made an impression on his patients and on me, checking olf lists of foods each patient might and might not eat. Everybody took it all quite 'seriously. Darn it, right there 1 began to (ear I would never attain success nothing published in the past forty years. I observed that when I was bellyaching with what the doctor believed to be diverticulitis some three or four years ago, had some doctor suggested a diet I would have been amused. As for castric (which means stomach, not gas) or duodenal (the dodenum is the 12-lingor breath portion of intestine just be yond outlet of stomach! ulcer, various cut-and-dried diets which were popular thirty years ago are almost forgotten today. There'll be more or less protest from oldtim ers, I expect, but in my opinion. lists of foods which the patient "may eat" or "may not eat" are for the birds. No doubt many cus tomers will continue to buy them, iust as many knuckleheads con tinue to eschew this and that wholesome and desirable food lest it contain "uric acid" or purine, the nitrogenous material from which uric acid is derived, such as red ment, liver, beans, oatmeal. Within reasonable limitations a persons with a diverticulum 11 or an ulcer should eat what he likes. ( Diverticulum is a pouch or pocket leading off from intestine. Most persons have one or two, which only rarely give trouble. Bees Vibrate 440 Times Per Second; Some Buzzin; Cousin kpu) vnnK un Things a col umnist might never know if he didn't open his mail: That the phrase red tape n.imnn the annovine delays of officialdom arose in the 19th Century in Eng land, where gov ernment and le gal documents were tied with a pink-red tape. That Maine is the only state in the union which adjoins only one other state. That a honey bee can vibrate ill villi 440 times a second, or 26,400 times a minute . . . and that's some butzin, cousin! Black Sea Not Black That the Black Sea isn't black . . , it gets its name because of the dense fogs and violent storms that darken the area. That the "monkey wrench" got HAL BOYLE BEN MAXWELL practice. I was right. 1 never did That. 1 want you all to under stand clearly, is the reason w-hy I took up this health column. It is easy to tell the truth or not to pretend 1 know when actually 1 don't. Now comes a promotion man; ager w-ho asks me to name a book that gives information on special diets for persons suffering with diverticulitis or ulcers. I was about to reply In my us ual manner you know me, folks L when 1 took second look at the man s letterhead and discov ered whew, that was a close shave that he is promotion man- i aser of a newspaper that prints my column. Would Have Been Amused So 1 donned my Dr. Jekyll dis tills and replied that 1 know of 'h a book or books, at least The Burlincton Industries, Inc., one of the largest ip the textile field, had increased sales ol 2d. 5 Der cent and increased expenses of 24.5 per cent, and profits after taxes were down 6.7 per cent. In the publishing business the storv is the same many maga zines and newspapers are feeling the pinch. One publisher of a large newspaper in the bast points out that newsprint has eonc up from $85-a-ton in 1947 to $l30-a-ton today and that another $4-a-ton increase is under way, Meanwhile, wage costs have risen sharply. The minimum pay of an experienced newspaper re porter has gone up from $65 in 1947 to $!z4 a week today. The mechan ical workers have had boosts of from 65 per cent to 120 per cent since 1947. The same Eastern pub lisher says he is sending $2.40 an hour, on the average, in straight time pay for all employees but that "fringe" benefits add another 51 cents an hour so the real cost has gone up to $2.91 an hour. Equipment Costs Soar, Too Equipment costs have soared, too. While advertising rates have been raised, the same publisher says costs continue to exceed the added advertising income and hence further rises in advertising rates arc going to be needed if any profits arc to be made. This, how ever, runs into the possibility of a diminished quantity of space that might be bought because the ad vertisers themselves face in creased costs all along the line. It would be thought that in the field of electrical appliances, so necessary in modern living, the story would be different. But it isn't. Also, the Radio Corporation of America, with a variety of tele vision and electronic products, showed sales up 7.1 per cent last year and total expenses up 8.2 per cent, but profits after taxes were down by 15.8 per cent. Profits Down In Lumber In the lumber and wood industry, earnings, after costs and taxes, per sales dollar have gone from 8.6 cents in 1947 to 4.3 cents today. In furniture for the same period, the earnings figure has come down from 5.7 per cent to 3.4 cents. In fabricated metals, it has fallen from 7 cents to 3.9 cents. In food, it is now 2.5 cents as compared with 3.7 cents in 1947. Textile mills show a drop from 7.3 cents to 3 cents. Printing and publishing earnings have come down from 5.5 cents to 3.9 cents! Surveys of supermarkets show a rising trend in costs and a shrinking margin of prolils alter taxes. There are a few industries that show improvement, but the bulk are on the minus side. In all in dustries, small business has been proportionately hurt even more by the rising costs. Yet. in spite of these facts, labor union bosses feel they must force the wage scales upward and up ward in order to keep amhilious rivals from driving them out of office. It's a dilemma that, cur iously enoush. Cenireas has shown inauguration, although he hung i a strange reluctance to investigate around Washington waiting for an and expose. But until the people invitation. The night helore. says ' get all the facts, they cannot de- nrew. ne ten me capital a orosen i cide wn ,ho tnswer is or wh and disi usioned man. to return L A , v ,. A ., to Oregon." j remedy must be applied if a ser- Upon reading this Mabel McKay i""" "'" " " a'" wrote the columnist a letter. It seems he had a couple of facts! wrong. The truth was that the McKays were invited. They shared a pew with the Eisenhowers on .Ian. 6 and drove with them to the White House. They left Washington 10 days before the inaugural cere monies, not the night before. They left when they had planned to leave. They did not return to Ore gon. They began an auto tour of the South and Mexico. And, she pointed out. Doug McKay is neither broken nor disillusioned. Drew Pearson, as we said be fore, ts a columnist we somehow can do without. History in The Making Rocket-firing Thunderbolts of the U.S. 12th airforce had made their first attack of the war on Hitler's private city of Berchtesgaden , mountain h I d e out in the snow Capped Ravari- an Alps. mm A Capital Journal editori al, "C o m m u nists as Army Officers," had this to say: "If Communists are ben maxwell being, as said, commissioned as Army officers, how can the policies of the war and justice departments be reconciled. Judging by their past record the Communists are attempting to bore within the Army organization as they did in the merchant marine and into indus try, as they did before 'Russia was in the war, and the first we know these human termites will be spreading the same chaos that they have in industry." Frank G.-. Myers, patriarch of Salem businessmen and owner ot the Spa between 1911 and 1944, had died of a heart ailment. Myers came to Salem in 1899 and his first job was washing soda pop bottles for Gideon Stolz, whose son, Walter, had established the Spa in 1891. Flax experts had told Oregon fiber growers that they must look ahead to operation of the industry on a competitive basis and they found little hope in support through a higher tariff or subsidies, even if such were desired. Oregon growers were also informed that the state's production of fiber was but a small share of world pro duction, Lone Oak village, only suburban area outside city limits whose residents wanted to be annexed to Salem, was threatened to be the first to lose a city service privilege. Flooded basements in the Roscdalc district were attributed to over- its nam from Its inventor. Charles Moncke, a London blacksmith. That U.S. government publica tions, which usually bear titles as long-winded as a marathon run ner, now include a booklet that is simply called "Beer" . . . wonder what in the world it could be about? That Arthur Murray ays to learn to dance the cha-cha all you have to do is wave goodbjf without using your hands. That bees usually fly in a straighter line than crows ... so, il you re in a real nurry, you u get there faster by "making a beeline" than by going "as the crow flies." You Might Be a Poet That you art a born poet If. offhand, you can think up words that rhyme with office ... or cobra ... or awkward. (All right, then, take all day.) That one can get a divorce in only seven states on the grounds a mate is a drug addict. That "dungarees comes from the Indian word, dungri, the name of a Bombay suburb where a coarse blue cotton cloth was first manufactured. That the Danish flag, which has a large white cross on a red field, is the oldest unchanged national flag in existence ... it originated in the 13th Century. That the headline writer who wrote "alcohol plant in Indiana explodes" missed a better one: "Boom! H1C!" One Record, One Child That every time pop singer Te resa Brewer comes out with a million-seller hit record she also has had a child . . . her present boxscore: three hits, three chil dren. That it was Sophie Tucker, who observed: "From birth to age 18, a girl needs good parents. Fr.om 18 to 35, she needs good looks. From 35 to 55, she needs a good person ality. From 55 on, she needs good cash." OLD ENOUGH TO KNOW The generation that grew up In the thirties and are socialistic are getting old enough to know better. Sherman County Journal. SHOULD BE DISCARDED The proposal to have an ap pointive officer handle elections stinks to high heaven and should be discarded by honest men. Sherman County Journal. burdened pipe lines leading from . Lone Oak village. A delegation of irrigation users from West Stayton district had asked the Marion county court to provide funds for a water master since a state authority had mad determination about water rights on the North Santiam and Mill creek. "We Felt We . Wanted the Best We were not disappointed when we chose Howell-Edwards Funeral Home" And We Agree Eugene Register Guard Drew Pearson, the Washington pundit whose column this news paper somehow gets along with out, tells how Douglas McKay did ln not get invited to the presidential iropvrlfht. 1S.VI New York Herald Tribune. Ine.l Capital AJournal Full leased Wire Service of The Associated Press and The t'nlted Press. The Associated Preji Is ex elusive) entitled to the ue for publication of ill newi dispatches credited to it or otherwise credited in this paper and also news published therein. SrBSCRlPTIOV RATES R carrier: Menthlv. I1.JJ: Mnnth. 11JI; fine Year. 11 IN, tl Mtll In Oreton: MaMMt, II M; 9x Mnnlht. SM; On Year, ft m st Mill nntttrit nreenn: MnntM. II :i: ix Menthi, :M; One Year. Ill M. SMALL BUSINESS IS OUR BIG BUSINESS' 2608 Loans Made in 1956 ' a Your Problems Are Not Relayed Beyond Our Walls For Decision W Invite You to Open an Account and Become Acquainted With Our Servicei CHECKING ACCOUNTS THRIFTI-CHECK ACCOUNTS SAVINGS ACCOUNTS TIME CERTIFICATES OF DEPOSIT OF SALEM Cmuch .' cwtMKrr trmn o o