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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Jan. 2, 1955)
If! I Fortune Predicts Business In 1955 WHI Be Best Ever New York The year 1935 be the best in U.S. business nistory, according to a New xears forecast by Fortune magazine. ortune's business Foundup predicts that business will con tinue to improve at least to mid- 1856. A $24,000,000,000 rise in - the nation's output of goods and services is seen for the next 18 months from an annual rate of 5360,000,000,000 to $384,000,- 000,000 in the last quarter of 1954. Last January the Roundup predicted accurately that gross national product would drop 3 per cent in 1954. In April it stat ed correctly that the recession had reached bottom. In July it predicted a $10,000,000,000 up- torn m gross national product by mid-1955 (actual upturn, it now appears, will be closer to $14,000,000,000). ' ' Two years ago Fortune pre dicted that when defense spend ing leveled off at around $40,' 000,000,000, gross national prod uct would be $355,000,000,000, With defense spending leveling off at about that rate in the fourth quarter, . the G.N.P. of $360,000,000,000 is close to the prediction. Defense Spending ' Other forecasts by the Round up for the next twelve to eight een months: Defense spending will decline only about $2,000, 000,000, to a $38,000,000,000 rate by mid-1956. Consumer spending will in crease 3 per cent a year from the present rate of $235,000,000,- 000 to $243,000,000,000 in 1955, 'and another $5,000,000,000 in the first half of 1956. Cost of living will remain "remark : ably stable." Credit will tighten just a lit tle, as business demand for bank loans expands, but money will remain "fairly plentiful and cheap." Horn e-biulding, though it soared to a seasonally-adjusted rate of 1,400,000 in November, "cannot be expected to rise much above 1,300,000 in 1955." The spending rate for public works construction ($8,500,000, 000 in 1954) will probably rise , by another $1,000,000,000 in 1955, and by an additional $2,- i 000.000,000 each in 1956 and 1957. 1956 Tax Cut ' Income and savings: "During the recession, personal incomes nearly held their own while the G.NJ. in the 1955-56 upswing $15,000,000,000 vs. $25,000,000, 000. The savings rate, now slightly below the recent 'norm' of 8 per cent of consumer in come, should rise a trifle, but ; probably not until personal taxes are cut again sometime in 1956. That cut may add as much . to consumer disposable income as the $3,000,000,000 contributed :bv the tax reduction on Jan. 1 1954, part of which went into savine and part into spending. Exports: "U. S. sales of civil ian goods abroad rose from $12, 300,000,000 in 1953 to $lz,ouu, 000.000 in 1954. They may rise another $2,000,000,000 over the next two years. "The U.S. will be swelling the outflow of dollars." Fortune Stat e Turkey Flocks On Level With 1953 Salem (U.R) Oregon tur key flocks entered the new year on almost an even basis with a year ago, based on official pull- orum tests, the State . Depart ment of Agriculture said Sat urday. The year-end report of poultry supervisor Earl Reitsma, who is in charge of the testing for the Oregon , turkey improvement program, shows 232,945 turkeys were tested to Dec. -30. This is just 68 birds less than a year ago. Tests were made in 232 flocks in 1954 compared with 241 in 1953. The year-end report shows a slight gain in the number of birds of light breeds tested. This means mostly Beltsville whites In 1954 25,709 birds of the lighter breeds were tested com pared with 22,303 in 1953. December testings included 49,797 of which 42,891 in 36 flocks were of heavy breeds and 906 birds in 10 flocks of the light breeds. 4-H Club Hews Club Meets The Sew and Sew 4-H club met at the home of Ann Fowler for a Christmas party. The les son given by one of the leaders, Mrs. Van Dyck, was on groom ing. Refreshments were served and gifts were opened. The next meeting will be held Jan. 15 at the home of Susan Giff ord. The next project will be scarf making. Judith Van Gordon Reporter Returned to Medford Dr. ROBT.'E. LEE, Optometrist OFFICES NOW OPEN AT THE BIG Y MARKET BUILDING 1912 N. Pacific Hwy. EASY PARKING points out. "U. S. imports will increase as American industry chews up more foreign raw ma terials. More important, the Eis enhower administration plans a substantial increase in aid to under-developed countries (but only part will be direct grants, the rest private investment with government collaboration). 'Thus, whereas in recent years the U.S. has been buying jiore abroad than it sold (apart from government gifts), an ex port surplus of at least $1,000, 000,000 is likely by mid-1956. Steady Growth In Economy ' Fortune estimates that the Federal Reserve index of indus trial production reached 130 in December (up from 124 in Sep tember). This is close to the level Roundup forecast last summer for mid-1955. "Production may stabilize from now through midyear,' Fortune says. "If it does, what will produce the renewed up swing later in the year and into 1956? The answer is that there will be steady, all-over growth in the economy, strongly en couraged by three governmental programs: for more roads, big ger exports, and lower taxes. Murder Conspiracy Suspect Denies Guilt Hackensack, N. J. (U.R) Carmine Priore, 52, indicted on three counts of conspiracy to kill Seafarers Union official Paul Hall, pleaded innocent Fri day and was held in $50,000 bail. Priore was one of 10 persons charged in the plot. He waived extradition in New York to be brought here for arraignment be fore Bergen County Judge Dom inick F. Pachella. Meanwhile, acting Gov. W. Steelman Mathis signed extra dition papers to bring Ray and Steelly White of Tampa Fla.. here in connection with the case, Two others already being held for trial here the James E. Cobb, Tan-.pa, confessed triggerman in the plot, and Edward Taffe, Montvale, N. J. The names of the other five suspects have not been disclosed.' Four Children Die in Home Fire, Explosion Watersmeet, Mich. (UJ?) Four children burned to death and four other persons were in jured early Saturday when fire started by an oil stove explosion consumed a one-room house one mile south of here. ; The victims were the children of Mr. and - Mrs. George Mc- Geshick, Alvma, 10; Arthur, 7: Herman, 6; and Francis, 3. In jured were George Jr., 20; Ray mond, 7, and two baby sitters, Wanda Scott, 13, and another girl, not named. The fire broke cut at 2:15 a. m. when George poured oil on embers in the stove and the stove exploded. AFL Leader Wants Big Program During 1955 Federal Construction Washington 4I.PJ AFI. Pres ident George Meany wants the government to give the economy a ' shot in the arm by under taking a huge school, hospital and highway construction pro gram. He asserted in a year-end mes sage to AFL members Friday night that the American econo my can "forge ahead" in 1955 if the government leads the way, or "it can be retarded if the government sits back and does nothing to encourage the return of prosperity." Would Create Jobs Meany said a big government construction v program would create jobs. In reporting a new increase in state insured unemployment, the Labor Department last night blamed seasonal slow downs in construction, lumber ing and. food processing as well as some curtailments in fabri cated metal, machinery and electrical equipment industries. It said insured unemployment increased by 22,800 persons to a total of 1,605,300 during the week ending Dec. 18. In the fol lowing week, it said, 303,500 persons filed new claims for job less . pay, an increase of 1800 over the previous week. Sharp Upturn Indicated Meany acknowledged that a sharp business upturn this spring is indicated, but warned there is "one dangerous factor. "Unemployment remains un necessarily high and will prob ably contmue to climb until March or April," he said, adding that this loss of purchasing pow Phone 3-5923 ir.T-T" Mummers Greet Entry of New Year Philadelphia (U.R) Some 12,000 gaily bedecked marchers, prancing and strutting to the tune of "Oh, Dem Golden Slip pers," greeted the new year Sat urday in Philadelphia's tradi tional Mummers Parade. Clear weather with tempera tures in the comfortable upper 40s swelled the crowds lining Broad st. to an expected record of more than l.OOO.-OOO. A total of four fancy clubs, five comic divisions and 21 string bands vied for the $52,000 in prizes donated ths year by the city, a record amount. But the prizes amounted to only a small fraction of the money spent by the new year "shoot ers" on the costumes they wore above their gilded shoes. Pink was the predominating color among the varied pastels chosen by the fancy clubs for the embroidered, spangled and se quined satins of their costumes. Variety of Mark New Washington Rose Bowl, Hogmanay, 12 grapes, "first foot" all say the same thing, Happy New Year. Since calendars were devised men have celebrated the New Year according to differing cus toms, says the . National Geo graphic Society. Yet few other holidays reflect so universally mankind's hope for future hap piness. This spirit has most often found outlet in special feasts, parties, and visiting with friends and relatives. In the United States, where New Year's day arrives late on its journey across the world from the Pacific In ternational Dateline, sports lovers from Florida to Califor nia have added something typi cally American football com petition. Civic Products Pasadena's Rose Bowl game, now a part of the annual pagean try of the older Tournament of Roses, was born Jan. 1, 1902, After a lapse it was firmly re established in 1916 and set the pattern for more bowl games: Miami's Orange Bowl, New Or leans' Sugar Bowl, Dallas' Cot ton Bowl and others that read like a list of civic products. Another gala event that gets each infant year off to a breezy start is the gay and elaborate Mummers' parade of Philadel phia. With a history that goes back 'to a city-wide festival of Jan. 1, 1876, today's all-male string bands, fancy-dress and comic-club performers put on a pageant of color and capers .that delights hundreds of thousands er "may sap the ; strength of the economic recovery 1 unless the government acts promptly to create new jobs." - r fiw m mm w m miz m President Has Quiet New Year's Eve; Set To Resume Busy Slate . By MERRIMAN SMITH UP White House Writer Augusta, Ga. U.R) President Eisenhower celebrated New Year's Eve quietly in the plush surroundings of the Augusta Na tional Golf Club and made plans Saturday . to return to a busy Washington schedule Jan. 2. The m-esident escorted his wife and her mother, Mrs. El viera Doud, to the trophy room of the club during the last eve ning of 1954 for dinner. He then joined members of the club in festive but quiet New Year's Eve celebration. Aides said the President left the clubhouse shortly after mid- Customs Year's Day of watchers from early morn to late afternoon Back in the merry making hours before dawn of New Year's Day, 1831, a group of gentlemen who had dined and wined at a famous Mobile, Ala., restaurant, equipped themselves with cowbells and rakes, and set out to rouse - sleeping house holders. The sport led to the formation of a mystic society that kept up the noisemaking for years. When interest lagged, another sponsor ing group turned the revelry into an annual carnival parade Later Mobile's carnival was moved up to Shrove Tuesday, leaving a masquerade ball that still carries on the New Year's Eve tradition. Grapes for Months Unusual as are some Ameri can observances, however, a great body of New Year festivi ties has been inherited from Europe. In France and Scot land New Year's Day became and remained the most import ant festival of the year; a time for exchanging gifts, cards and visits among kith .and kin. ' The traditionally dour Scot threw tradition to the winds and named New Year s . Eve Hogmanay, grouping it with the whole 'New Year's season as the Daft Days." Hogmanay, too, is the cry of Scottish children who flood the streets on New Year's Eve and demand cakes and fruit from the neighbors. Twelve grapes are a part of the gay Spanish New Year's Eve celebration in the Puerta del Sol, Madrid's Times Square. As the clock strikes midnight the grapes are. held high overhead and eaten for luck one for each month' in the .year. In England a glass of wine and slice of bun loaf are . rewards for visitors who ?'first-foot" (ar rive first) at a home following the birth of a new year. A "first foot" sometimes called lucky bird, brings with him the tradi tional symbols of warnith and prosperity coal, bread and salt and is welcomed because he "lets in" the New Year. Repre senting the ,old year, too, he leaves by the back door. U U ruLT f Lb U Zri LIJ IS 9 -' 127 NO. CENTRAL - W i-MT- fv - night and went to his cottage by the goif course. The White House announced Friday night that Mr. Eisenhow er and his wife will return to Washington today. They1 will leave Augusta in the presiden tial plane, Columbine HI. Busy Schedule The President faces a busy schedule at his White House desk preparing his State of the Union message for delivery next week and getting ready for the opening of the new Congress. Before Mr. Eisenhower began his New Year's observance he announced the appointment of a three - man emergency board which had the effect of pre venting AFL machinists from striking against six major air lines, at least until Feb. 20. i The President appointed Judge Adolph E. Wenke of the Nebraska Supreme Court as the special board chairman and James P. Carey Jr., of Chicago and Francis J. Robertson, of Washington, D. C, as the other members. Carey and Robertson are attorneys. Mr. Eisenhower created the emergency board on Nov. 16, but withheld actual appoint ment of its members until Fri day night. . . The airlines involved in the threatened strike, according' to White House Press Secretary James C. Hagerty were Capital, National,. Northwest, Trans- World, United and Eastern. Denies Report The White House Friday night denied a report that Gen. Mat thew B. Ridgway, Army Chief of Staff, had written Mr. Eisen hower expressing concern over a planned cutback in Army man power during the . next 18 months. White House Press Secretary James C. Hagerty said Ridgway, along with other military staff chiefs, was requested, some months ago, by Secretary of De fense Charles E. Wilson to sub mit a memorandum . on service manpower needs Hagerty said the request was made by Wilson long before the Administration announced its final decision on manpower cut back. Hagerty would not say whether Ridgway expressed con cern to , Wilson but he added that the" Army staff chief's opin ion were ; stated to Wilson and not to the President. Friends Church Opens Convention in Salem Salem (U.R) Some 150 young persons from 50 Friends churches in the Northwest op sned a three day midwinter convention here Friday night. Rev. Gerald Dillon, First Friends Church, Portland, ad dressed the group. Highlight of Saturday's pro gram was a .banquet at the Mar ior hotel, with Phil Harmon. student at George Fox College, in charge. Milo Ross, president of George Fox will address the group Sun day morning. , Rev. Hal May, Marion 4 Friends Church, will speak tonight at the concluding session. Across From Penney's Sunday, January 1, 19S5 $1,194,000 Budget Set Up For Oregon's Park System Salem (U.R) The Oregon state parks division of the State Highway Department will have a budget of $1,194,000 for main taining, developing and operat ing the state parks system dur ing 1955. State Parks Superintendent C. H. Armstrong said more than a third of the budget will be used for operating of the parks, including - upkeep of the many facilities provided for the pub lic. . : Operation of the Oregon state parks system is administer ed by representatives with head quarters ia State Highway De partment buildings' in Salem, Only One Highway Death in Oregon On New Year's Eye; Portland (U.R) Oregon- ians, heeding the pleas of po lice and city officials, welcomed the New Year Friday night in a safe and sane manner, although there , was enough' noise-making to satisfy the most enthusiastic celebrant. '' One Fatality There were only a few scat tered accident reports from around the state and by 'mid morning Saturday only one highway fatality had been . re ported. State police said j Mrs. Inez Wilson, 38, Eugene, had ap parently drowned in the Willa mette river when the car in which she was riding plunged into the stream about 15 miles east of Eugene. . In Portland, police had threat ened to put up .' roadblocks if necessary to stop drunken and reckless driving. But only i five motorists .were 1 arrested for drunken driving and there were only a few minor, accidents re ported during the night. : The pattern was much the same else where around the state." Plenty of Noise Light rain fell over most of western Oregon ljut -it failed to dampen the spirits of those who stayed up to greet the New. Year. Nightclub operators reported capacity crowds with plenty of noise-making, although most re ports said the . patrons were orderly. . . 7 , Four Killed in Crash On Arizona Highway Kingman, Ariz. (U.R) Four persons were killed late Friday night and four. others seriously hurt when a car carrying nine persons crashed ; into the . left corner of a flat bed truck being towed by another car 16 miles west of here on U.S. Highway 66. The Arizona Highway Patrol identified the dead in the King man crash as Carl Burke, 23 , his wife, Lillian, 21, Arsenio Gar cia, 19, who had a New Mexico address, and Rachel Guerin, 18, of Kingman. Driver of the car was identified as Joe Esquibel, 16, Kingman. The driver of the car which was towing the flat bed truck was identified ' as Walter R. Coretti, 29, West Covina, Calif Portland, La Grande, Bend and Coquille. Armstrong predicted that within 10 years Oregon state parks will be accommodating ANY FURNITURE UNTIL YOU SEE OUR AD IN TUESDAY'S MAIL TRIBUNE STORE MONDAY & TUESDAY Starting Wednesday, Jan. 5 Remember! Don't Buy Any Furniture Till You, See Our Ad! We Will Be Closed MONDAY & TUESDAY JANUARY 3rd & 4th For Inventory y CYCLE & HOBBY SHOP 23 North Fir Phone 2-2472 Medford's Newest Appliance Store extends an invitation to , . . - BETTER LIVING ih1955! Resolve NOW to increase comfort and light en labors with HOTPOINT appliances . . . ... you can't buy finer quality smarter styling more dependable service. Extended payments tnar fit any family budget! ' PHONE 3-5743 MEDFORD (OREGON) MAIL TRIBUNE THREB 10,000,000 visitors. The parks division now administers 158 separate park areas containing 55,052 acres. There has been a trend toward boating facilities, Armstrong said, and such facilities wll be avalable at three new parks ths year at Fort Stevens, Ochoco reservoir and at Detroit dam. ' it. if- ' S 0 If- P 0 i-i:'' m i'M t ' I '--Mi it'Yi i -TV'--- ! i 'tk -I
