Image provided by: Central Point School District #6; Central Point, OR
About The Central Point American. (Central Point, Or.) 1936-195? | View Entire Issue (Jan. 5, 1950)
THURSDAY. JAKÜABY J. 1M PACE TWO THE CENTRAL POINT are established by public service commissions whose duty is to pro tect the public interest. Its margin of capacity over demand is steadily growing. Why, then, is there a campaign to waste billions of tax money on tax-exempt valley “authorities" and other instruments of socialism? The answer is that these super-govern ments represent the perfect instru ments for establishing monopolistic, centralised political control over the nation’s economic resources—its land and its industries, no less than ! THE AMERICAN WAY AMERICAN Rp-esUblished, September 13, 192» Entered as second class matter at the post office. Central Point, Ore gon, under the Act of March 8, 1879 Published weekly at Central Point, Jackson County, Oregon ana devoted to the best interests of tne city and vicinity. SUBSCRIPTION RATES Six Months $1.25 One Year $2 06 Payable in advance Advertising rates on application Office—North Second Street ~ARTHUR EDWARD POWELL Editor and Proprietor El ytXJKBZ ’ ’> NO INCENT!- TUE Fi- Ars, iC : MINNOWS* EDITORIALS THE SAME OLD LINE The Licensed Beverage Industries official public relations arm of the liquor trade, is jubilating this month over the 16th annive-sary of repeal We are not advocating return of prohibition nor urging it as the best answer to the liquor problem. But LBI’i annual eulogy of the liquor industry's contributions to prosper' ty always demands some reply. Alcoholic beverages, says now provide 1,100,000 jobs and 700,000,000 each year in wages, gambling joints, race tracks, dope peddling also provide jobs are said to pay quite handsomely The question is: How many more jobs and more billions in wage would be produced were the mono; now spent for liquor to go into th* purchase of goods and service socially beneficial instead of socia ly dangerous? LBI always talks a though money spent for liquor wer some kind of marked currenc which otherwise, wouldn't circulate The liquor industry, boasts LB proudly, has paid over $30,000,000, 000 in taxes in the 16 years since repeal. The same old fallacy: The assumption that there could be nr economic activity in place of dis tilling and brewing which might produce even greater taxable wealth. And the same old carefu' ommissions—of such things as the 1,664,670 arrests for offenses trace able directly to liquor reported bj 1,654 municipalities last year. How much of that tax money ha1 gone right back into the extra costs of maintaining police, courts, pri sons, hospitals, and destitute fam: lies chargeable to this industry’’ product? Ah, well! This is all old stuff And so, perhaps, are our comments. But I liquor is brazenly persistent in it , endeavor, to play the role of publi< | electricity. And once such control was established, individual liberties would be reduced, and local gov ernment would be restricted. The Wisconsin State Journal re cently said that the valley authority philosophy “if carried to the ex treme to which we are certain it would be carried, would set self- government back a half-century.” The only thing wrong with that statement is that it is too moderate —for the valley authority philoso phy, carried to its logical end, would mean the death of self-government In its place we would have govern ment by fiat and decree from Wash ington. Mr. and Mrs. Robert Vincent left for Corvallis Thursday, December 29th where they are both attending O.S.C. after spending the holidays with.his parents, Mr. and Mrs. J. E. Vincent, Mrs Myrtle Folsom, sister of J. E. Vincent accompanied them to Corvallis and then Robert took her on to her home at Eugene. She had also spent the holidays with her mother and the J. E. Vincents. You CAN Store Those Red Flannels And Take The mOut Next Year, Good as New. $ You CAN Preserve Last Year’s Spring Suit For The Duration. You CAN Recondition Your Fur Coat And Pack It Away For Next Winter’s Use But You Can’t Put Good Will Away $ No “Know-How I lenefactor. Somebody has to be ust as stubborn about peeling oft e make-up.—Christian Science Monitor. allacy of “Valley Authority” Idea Told One piece of deliberate misinfor aation that is constantly beint eiterated by some public official, s that the government must go /hole hog into tne electric business through valley authorities and .milar schemes, in order to assun. .ie people an adequate supply oi cheap" electric power. The fallacy of that is shown by an offer which tne utility industry made to the government in connec- i'>n with the river developmen programs. In essence, the utilities >ffer to buy the power at the gov ?rnment dams at its maximum value, to distribute it to consumers iver their own lines and to build my new lines which are needed— and, finally, pass all savings on to the public, under government regu lation. Of this, Edwin Vennard of the Middle West Service Company said: “What more is there to offer? When, in view of this offer, the govern ment goes directly into the power business in competition with its citizens, the principles of our free enterprise system are violently broken down.” The point, of course, is that “cheap” power is only a bait. Our private utility industry is the model of the world. It is engaged now in a $6,000,000,000 expansion program which will enlarge its plant by about 40 per cent. In 1948 it paid out $713,000,000, in taxes. It doesn’t get a penny’s worth of government aid or tax subsidies. It sells its power, not at rates which it deter mines for itself, but at rates which $ In Moth Balls! YOU CANT DUST GOOD WILL OFF, ARRANGE IT BETWEEN LAYERS OF TISSUE PAPER. SPRINKLE IT WITH MOTHBALLS. STORE IT AWAY, AND TAKE IT OUT NEXT YEAR GOOD AS NEW. GOOD WILL CANNOT BE STORED. IT CANNOT BE NEGLECTED FOR ONE MINUTE, MUCH LESS A YEAR OR TWO. IT MUST BE CONSTANTLY FED THROUGH ADVERTISING MEDIA WITH NEWS ABOUT MERCHANDISING PROBLEMS. NEW SUBSTI TUTES, FUTURE BUYING. GOOD WILL MEDIA MUST BE MAINTAINED FOR THE DURATION, AND AFTERl I $ Central Point American Phone 1221 or 601 Central Point I THESE ARE THE BANKING OFFICES IH THE FIRST NATIONAL GROUP lul'i Build PORTLAND BRANCHES PORTLAND MAIN BRANCH S.W. 5th, 6th ond Stork SIXTH ANO MORRISON BRANCH UPTOWN BRANCH S.W. 14th Ave. ot Alder (AST PORTLAND BRANCH S E. Morrison ot 6th Avo. HAWTHORNE BOULEVARD BRANCH Hawthorne Blvd, ot S.E. 39th LIVESTOCK KENTON BRANCH N. Denver Ave. at Interstate MONTAVILLA BRANCH S E. Stork St. ot 80th f LYWOOD ROSE CITY BRANCH .4 E Sandy Blvd, at 42nd SOUTHEAST FORTLAND BRANCH S E ¿2nd Ave at Foster Rood UNION AND RUSSELL BRANCH Oregon \ \ ; Together” FIRST NATIONAL BANK OF PORTLAND DECEMBER 31, 1949 BRANCHES OUT OF PORTLAND ALBANY MANCH ASHLAND BRANCH ASTORIA BRANCH BEND BRANCH CENTRAL POINT BRANCH CONDON BRANCH COOS BAY BRANCH COOUILLE BRANCH ENTERPRISE BRANCH FOSSIL BRANCH GRANTS PASS BRANCH GRESHAM BRANCH HEPPNER BRANCH HILLSBORO BRANCH HOOD RIVER BRANCH KLAMATH FALLS Klamath Falls Branch South Si «th Stroot Branch LA GRANDE BRANCH LAKEVIEW BRANCH MEDFORD BRANCH MERRILL BRANCH MOLALLA BRANCH NEWBERG BRANCH NORTH BEND BRANCH NYSSA BRANCH OAKRIDGE BRANCH OREGON CITY BRANCH PENDLETON BRANCH SALEM BRANCH SHERMAN COUNTY BRANCH STAYTON BRANCH THE DALLES BRANCH TILLAMOOK BRANCH UNION BRANCH WOODBURN BRANCH M«mb«r F«d«rol Deposit Insvrenc« C«roorallon RESOURCES Cosh in vault and in Federal Reserve Bank.................................... | <9J Duo from Banks........................................................................................... 39,1 $1 OO.SSO,*94 48 110.441,731.25 40.181.34*.01 1.333,9*5 (4 *00 000 00 1 JI,077,377.SI 1.7*4,8*1.1« 3.40*9*1.11 Ho". Tefal Cash.............................................. *............................. United States Government Obligations, Direct ond Fully Goorontoed State, County ond Municipal Bonds ond Warronfs ...................... Other Bonds and Securites................................................................... Stock in Federal Reserve Bank.............................................................. Loans ond Discounts................................................................................. Accrued Interest Receivable................................................................... Bonk Rremisos, Furniture and Fixture» ond Safe Deposit VouHe Other Real Estate owned...................................................... Customers* Liability on Accounts of letters of Credit Other Resources............................................................... * TOTAL RESOURCES 131*816*6133 ................................. LIABILITIES Copilot.............................................................................................. Svrplu».............................................................................................. Undivided Profit»........................................................................ Totol Capitol Fund» 4.115,191.23 1(3,432 19 • • » » 13 041.311 *9 ........................................... RESERVE FOR POSSIBLE IOAN LOSSES S98.491 *t ........................ DEPOSITS i • ( Saving» and Tima ........................................... Liability for lotfort of Credit end at Acceptor Endor»or or Maher of Acceptance» and Foreign Bill».................. Intoreit Received in Advance ................................................ Reserve for Interett, Tax«», Etc............................................. .. Other LiabilHie»........................................................................ TOJAl LIABILITIES............................................ 47*,438,303 78 4.1 35,191.13 LSI*.311 *8 971,*«S 47 104 113 07 »31*.81* **1 33 OTHER BANKING OFFICES IN THE FIRST NATIONAL GROUP In addition Io Ils 45 bronchos throughout Oregon 17 other Oregon Banking Offices are members of the First National Bank Group »..«!Î Carlton Stat« and Sating» Bank Bonfon County Stat« Bank (Carvallls) Phll«m*th Branch (Philomath! Tho First National Bank of Cottag» Grove Th« First Nali«nal Bank «1 Eugen« W«»f Eugene B-onch The First National Bank of Forest Gray« The First National Bank of Lebanon Monroe State Bonk State Bank of Malheur County (Ontario) Moreland-Sellwood Bank IPortlandl The First National Bank of Prineville Sci« Stat« Bank Clats«» County Rank (Seaside) Coolidge ond Mc'lomo (Silverton) Bonk «1 Sweet Hem« Yamhill Stat« Bank MFO$ni First Noftoool Bank of PaHlond aad 4S Broncho.................................... 17 othor Orogon Booking Olikos i« *h« First Notional Grasp................. IOANS ANO DISCOUNTS Th« First Nobonol Bonk of Portland •«* 43 Brancho«................ .. 17 «th«« Or«gon Booking Orfico» io Hio First Noi>o«ol Omep........ $1 JI ,077 377 SI 1« 191 *3*77 »17J 370 014 19 lias» Marvin O, Smith (innet) a veteran parachutist of the R2nd Airborne Diviaion, by his heroic action and quick thinking saved the life of a fellow trooper during maneuvers at Eglm Air Force Base in Florida. High In the air the ’chute of Paratrooper Charle» J. Dye collapsed and a* he »hot downward Smith grasped the lanyards and held hia comrade sus pended until they reached the ground safely. Sgt Smith wu called to Washington and presented the Soldier’s Medal by Secretary of the Army Gordon Gray. Above is an artist's drawing from a photogrsr» in da during ths rsocus. (Rsisased by U>* Dsparta>eai of Defsn-. TOTAL RESOURCES The Wr»l Nafianal Rook ot Parila«* ••* 4J Broncha«. ................................ 17 olito« Or «go« Banking Ottica» i« »ha First Notional Gravo................ TOTAL RISOURCIS ot tho *1 BANKINO OFFICIS M tho FIRST NATIONAL GROUP SII* 81* *41 S3 JO* III 741 M $•13 715 410 1! TARI AOVANTAGI OF INYftfSY BAtNiNGS HtQM JAN 1 Saving, 0.(>e„t, „„ ,, ”* • "• substitute for cash In the bank <
