Heppner Gazette Times, July 9, 1 942 3
AT 'tHE':
AIM t
Washington, D. C, July 9. There
is a chrome mine 12 miles south of
Unity, Ore., about to be opened up
and the operators have joined the
opposition to the proposal to re
move rails of the Brogan branch
of the Union Pacific. If this branch
is abandoned it will require a 76
mile haul of chrome instead of 42
miles as at present. Union Pacific
wishes to abandon its branch. There
is a shortage of steel rails and war
production board is looking for any
70-pound rails it can find. Inter
state commerce commission has jur
isdiction over railroads, but in this
emergency WPB can requisition the
24 miles of track and equipment now
on the Brogan branch.
The traffic is indifferent, observes
ICC. It is largely for sugar beets
and last year 97 percent of the
traffic moved in 18 days. ICC will
probably hold hearings on the pro
posed abandonment in Oregon next
month.
P. S. The Robinette branch also
may be abandoned.
The man who rationed sugar and
cut the allowance down to barely
enough to get by, not mentioning
preserving, asked congress to give
him money for a 91,230 organiza
tion, all on the payroll except 25.000
volunteers. This is the reason there
has been a clash in congress be
tween the office of price adminis
tration. Congressmen considered the
set-up entirely too large, cut his
request for funds and told him to
organize accordingly. Thousands of
lawyers would be on the staff, more
lawyers than any other class of
people. The set-up would give Ore
gon about 100 payroll workers.
When congress killed CCC and
gave the director one year in which
to liquidate. Oregon lost 16 camps
which were to have been used for
protection against forest fires. A
camp consists of 200 men and the
average cost to the government is
$1000 per man per year. Oregon
camps would have cost $3,600,000.
With all the criticism of congress
taking X cards (unlimited gasoline)
members of congress received 200
cards and citizens of the national
capital (mostly bureaucrats and dip
lomats) numbered 13,000. None of
the Oregon representatives received
an X card, neither James W. Mott,
Walter M. Pierce nor Homer An
gell; but X cards were drawn to
several representatives from Wash
ington. As a matter of fact, a con
gressman should receive all the gas
oline he needs to run. errands for
his constituents. Street cars in
Washington, D. C, do not take one
to government buildings and it is
necessary to drive or hire a taxicab.
What burns up a congressman is to
see some 14th assistant secretary of
an embassy rolling around in a
brand new high priced car which no
congressman is permitted to pur
chase, or watch a bureaucrat in a
big car with a chauffeur, especially
when the bureaucrat is heading for
a cocktail lounge or a social func
tion. Oregon coast will receive better
defense against the enemy within
a few months. An appropriation of
$97,000,000 has been made to place
large cannon at strategic positions
along the coast from Washington
state to Maine. Present guns are
old-fashioned and the new ones will
have a range that will keep enemy
submarines or warships at a safe
distance. Another added defense
will be the use of small, swift boats
and, probably private airplanes.
Senator Rufus Holman has written
the war department that he is not
satisfied with the coast defense ar
rangements in this state, and Sena
tor McNary has suggested that some
of the material that is being ship
ped abroad be diverted to the Ore
gon coast. (American tanks, known
as General Grants, were ineffective
in Libya, where the Nazis knocked
them out; their range of fire was
limited, and the tread was worn out
from recoil of the 75-mm. cannon).
Assertion was made to the joint
committee hearing the Bone Colum
bia Power Authority bill that if wa
ter is a national resource which the
government should control, then the
government should apply public
ownership to the coal mines, natural
gas, oil and timber, all of which are
privately owned and developed the
same as water power in the Pacific
northwest.
Since the capture by FBI of eight
trained saboteurs who were landed
on American shores from submar
ines (they will be shot or hanged,
make no mistake about that) orders
have gone out to strengthen the
guard at waterworks, utility plants
and war industries in Oregon. This
tightening up is now in process and
200,000 guards throughout the coun
try are receiving extra alert in
structions. Bonneville, the irriga
tion works in Oregon and a few
other key points were placed under
guard one year ago.
We've got Axis to grind. Buy
Defense Bonds and Stamps.
$12,500 in Interest
Savings Due County
Farmers and ranchers of Morrow
county will save approximately $12, -500
during the next two years thru
continued low interest rates on Fed
eral Land bank and land bank com
missioner loans, Elart E. Hultgrenn,
Heppner, acting secretary-treasurer
of Hardman National Farm Loan as
sociation, reported this week.
The saving, Hultgrenn explained,
results from legislation just approv
ed by President Roosevelt which
continues until June 30, 1944 the ZVz
per cent interest rate on Federal
Land bank and land bank commis
sioner loans, with slightly higher
rates for "direct" and "compart
ment" loans.
This same legislation also reduces
interest rates on land sales contracts
and purchase money mortgages held
by both the land bank or the Fed
eral Farm Mortgage corporation.
Both of these have regular 5 per
cent rates, reduced to 4 percent for
the next two years.
Since 1935 the contract rate of
interest for Federal Land bank loans
made through National Farm Loan
associations has been 4 percent.
From 1917 to 1935 loans were made
at various rates up to 6 percent dur-
Feed Wheat Sales
Farm Profit Factors
Help Meet Var Needs Reported fosr Baker
The program for converting sur
plus wheat into meat, milk and eggs
through Commodity Credit's feed
wheat program has proven popular
with Oregon farmers, the state AAA
office reports.
Oregon ranks third among the ten
western states in total volume of
wheat sold, exceeded only by Cali
fornia and Utah. As of June 15, 1,
300,000 bushels had been sold at lo
cal loan values 85 per cent of par
ity prices, for feeding to Oregon
livestock and poultry. Sales since
that date will boost the total con
siderably. Use of this surplus feed is credit
ed with being an important factor
in helping Oregon dairymen and
producers of other livestock products
in meeting the increasing demands
for "food for freedom."
ing the "high money" days, Hult
grenn said. The contract rate for
commissioner loans is 5 percent.
In Morrow county the total am
ount outstanding in Federal Land
bank and land bank commissioner
loans, contracts and purchase money
mortgages is approximately $2,000,-000.
Size of farms and degree of labor
efficiency on them were found to
be among the most important factors
in determining whether farm income
was satisfactory or poor in a study
of farm organization and financial
returns from both irrigted and non
irrigated farms in the lower Powder
river valley in Baker county.
The results of a study made by
the survey method in the area have
just been published as O.S.C. sta
tion bulletin 406. The study was a
cooperative one made by the farm
management department of the col
lege with the Soil Conservation ser
vice and bureau of agricultural ec
onomics. While the bulletin report
applies specifically to the Keating
and Sparta areas in Baker county,
the same factors hold true to a great
er or less extent in similar areas
in eastern Oregon where livestock
production is the major enterprise,
according to William A. Schoenfeld,
dean and director of agriculture.
Onr fighting men are doing
SjS their share. Here at home
i i . . .
wc least we uan ao IS put lUye
of oar income in War Bonds
for our share in America.
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LrJIiU LoJLolUU
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rmn
OF PORTLAND, OREGON
Condensed Statement
OF HEAD OFFICE AND 41 BRANCHES
June 30, 1942
RESOURCES
Cash on Hand and Due from Banks $49,898,98 1 .74
United States Bonds 78,310,293.05 $128,209,274.79
Municipal Bonds and Warrants.
Other Bonds
Loans and Discounts MONEY AT WORK IN OREGON
Stock in Federal Reserve Bank
Bank Premises, Furniture and Fixtures
Other Real Estate
Customers' Liability on Acceptances
Interest Earned
Other Resources
Total Resources
LIABILITIES
Capital $4,500,000.00
Surplus 5,500.000.00
Undivided Profits 1,003,947.15
Reserves for Contingencies 1,199,400.17
Reserves Allocated for Taxes, Interest, Etc. . . .
Acceptances
Interest Collected in Advance
Other Liabilities
Deposits (exclusive of all reciprocal bank deposits)
Total Liabilities
4,197,504.40
3,546,165.61
52,810,404.97
300,000.00
2,742,498.00
1.00
4,187.50
413,386.35
95,188.94
$192,318,611.56
$12,203,347.32
478,559.37
4,187.50
311,011.61
79,442.39
179,242,063.37
$192,318,611.56
MIMBIR FEDERAL DEPOSIT INSURANCE CORPORATION