Thursday,
Job-Seeker List
Grows In Oregon
P L A Y B E C O M E S A S C IE N C E —The lu c k le it child re n In Washington, D. C „ are those liv in g
around P art« Ido playground w hich was rece ntly dedicated as a dream land fo r ch ild re n. B u ilt by
the fathers o f Parkside's 430 child re n on th e ir spare tim e, the pla ygio un d features a cind er-block
alrplnne, a ship, hurdles, tunnels and an am phitheater. Parkside g b ” s' the child re n a chance to use
some im agination in m aking th e ir own games.
1949 Successful Year For First National Bank In Oregon
“In 104» the First National
Bank of Portland experienced
one of its most successful years,”
said President F N. Belgrano,
Jr., In an interview today. "The
year 1048, generally known us
a banner year in business, pro
duced net earnings per share for
the First National Bank of Port
land, of $10 34 On a comparable
basis, the 1940 earnings per
share were $10 67
The First National Board of
Directors availed themselves of
the us«- at u valuation reserve
permitted by the Commissioner
of Internal Revenue and set up
from 194» earnings, the sum of
$598,492 61, as a reserve for pos
sible loan losses which may be
applied against any loan losses
which may develop in the fu t
ure, and not allocated to any
particular loan or type of loan
The deduction of this sizeable
amount from net earnings re
sulted in a net per share earn
ings after this deduction of $9.00
per share during 1949. Belgrano
stated.
After the pu^nent of d ivi
dends, there was an addition to
capital funds of $2,521.586 83,
bringing the capital funds of the
First National Bank of Portland
to a new high of $33,042,322 69
This addition is an Increase of
$7.00 per share in the book value
of the bank's stock, which is re-
ported at a new high of $91.78®
per share
In December, First National
transferred $3,000,000 from the
undivided profits account to the
surplus account, making the sur
plus $15,500,000. With capital of
$4,500,000, this gives total capi
tal and surplus of $20,000,000 In
addition to these capital funds,
the undivided profits account is
$13,042,322 69, or a total capital
fund of $33,042,322.69
“Although the earnings of The
First Nulional Bank were great
er In 1949 than in 1948, we look
forward with confidence and cn
thusiasm to 1950, with every
reason to believe that earnings
can be maintained at a high lev
el." Belgrano concluded.
Sportsmen To Participate
In 1950 Angling Rules
Sportmen are making numer
ous recommendations regardinj
the 1950 angling regulations
stated Mr Charles A Lockwood
Oregon State Game Director
Lockwood reminded anglers tha
the public hearing ccncerninj
angling regulations w ill be hek
in the Portland office of th<
Oregon State Game Commissior
at 10:00 a m , January 13.
The public is invited, and rep
resentatives of organizations an<
individuals w ill all be heard. Foi
accuracy in the record, though
Lockwood requested that all im
portant facts and statements b<
submitted in writing.
SOUTHWEST PRESBYTRY
Tentative regulations for th<
MEETS TUESDAY
coming year w ill be announce
The Southwest Oregon Presb after the public hearing Th
tery met on Tuesday, January Commission w ill reconvene afti
10th at Rogue River. The two a two week interval, make an
delegates from the local Presb- changes deemed necessary, an
yterian church were the pastor, set the final angling regulation
Rev George S Shuman and j for the year 1950
Elder C. C. Hartley. An i n v i t a t i - ----------------——--------------------------
on was extended to Presbytery
to hold its next regular meet
Pet Foods and Farm Supplies
ing in Ashland in April.
January
12,
1950
Ashland, Oregon
Sc- them Oregon New* Review
TO MINNESOTA
J. B Austin, Ashland city re
Oregon's employment offices
reported 69,000 persons actively
seeking work this week for the
I largest year-end figure since the
war This compared with 55,-
300 a month ago and 59,600 a
year ago, according to the State
Unemployment
Cqmpensation
Commission.
Most of last month’s newly
unemployed came from lumber
and logging districts, where cold
weather and snow bjryght about
curtailment of operations. The
December increase of 13,700 was
considerably under the 22,000
lay-offs reported during Decem
ber, 1948, and officials remain
ed hopeful that this winter’s
peak, probably in February,
would fall short of the 93,000
al-time high reported a year ago
Highest numerical increase
from any local office area came
from Eugene, where 6,200 were
available for jobs compared with
4,850 a month ago and 3,600 a
year ago. The biggest percen
tage increase, however, was at
B e n d , w h e r e unemployment
jumped from 600 to 1,300 dur
ing December because of season-1
al shutdowns in construction,
lumber and logging, and food
processing.
In the Portland area 22,500
were reported out of work _
1,200 more than a month ago and
about 5,000 more than a year
ago. Exact comparisons with
last year, however, were not
available because of the estab
lishment last May of a new em
ployment office at Hillsboro to
serve Washington county. Snow
in the foothills and other seas
onal conditions upped Hillsbor
o’s idle workers from 1,600 to
2,600 last month.
Other offices with increases
of more than 50 per cent includ
ed: Medford 1,400 to 2,250
Oregon City 1,950 to 3,100 The
Dalles 525 to 800; Baker 625 to
950; and Lebanon 1,200 to 1,800.
Least change was noted at Free
water, where only 15 were ad
ded to December 1 report of 600
workers.
corder, and Fritz Koester, man
ager of the Copeland Yards here,
left Friday for Minnesota, where
Austin will visit a sister, Mrs.
C. V. Phillips, at Wadena, and
Koester wilt visit relatives at
ZONOLITE
Austin.
INSULATION
A T T IC -F ILL FIREPROOF.
Mr Austin will also visit his
family liomc at Milner, North
Dakota, and transact business
while there.
The two men expect to re
turn in about two weeks
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