rOTJRTEEM MEDFORD (OREGON) MAIL TRIBUNE
Wednesday, October 12. 1955
Controls Needed to Maintain Economic Freedom
Off Choice, Morse Says; Cites Boxcar Shortage
Government controls are nec-
essary to maintain "economic
freedom of choice," without
which there would 'be no politi
cal freedom. United States Sen.
Wayne Morse told Medford Ro
tarians at yesterday's noon lun
cheon. Senator Morse cited two ex
amples where government con
trols help maintain economic
freedom of choice in southern
Oregon, concerning the railroad
boxcar shortage and the nation
al forest and public timber lands.
Shortage Not New
The boxcar shortage, Senator
Morse "said, is not new, and has
been before the Interstate Com
merce commission for about six
years. He said he did not think
the ICC has done what regulat
ing it should. If economic free
dom of choice is to be preserved,
he said, government controls
over railroads are necessary."
He pointed out that Congress
provided tax amortization on
construction of new box cars.
But as new cars were built, Sen
ator Morse said, old ones were
discarded. Unless there is an in
. crease in production, he said,
there is bound to be a shortage
year after year.
Another aspect of the shortage
in Oregon, Senator Morse said,
was lack of competition. He
noted that in California and
Washington theVe are compet
ing railroads, and in Oregon,
particularly in southwestern
Oregon, there is a monopoly,
which probably affects the num
ber of boxcars. The ICC, he said,
should enforce its regulatory
measures governing such condi
tions) Nd To Know Increase
"We need to know the increas
ed number of boxcars," he said,
"not how many have been re
placed." He said it is the duty of
the government to apply regula
tions to keep economic freedom
of choice.
Senator Morse noted a trend
O toward monopolies, which has
increased in the past few years,
and said it is up to Congress to
TV
SEN. WAYNE MORSE
Speaks for Roiarians '
revise regulations governing
monopolies. He also stated he
favors a small business admin
istration. He said he planned to intro
duce new access road legislation
to provide better access to na-
Hong Kong Official
Visits Red China
Hong Kong (U.R) Sir Alexan
der Grantham, governor general
of this British crown colony, re
turned today from a "purely so
cial" visit to Communist China.
While in Peiping Grantham
said Red Chinese Fremier Chou
En-lai gave, a reception for him
self his wife and British
Charge d'Affaires Con O'Neill
and his wife.
-He said the only question of
international importance Chou
brought up was whether there
had been any further progress
in solving the sabotage crash of
an Air India plane- carrying
Communist officials to the Afro
Asian Conference at Bandung,
Indonesia.
Listed Stocks Value
Off $17,000,000,000
From September 26
New York (U.R) Wall Street
experts today calculated that the
valuation of all listed stocks on
the New York Stock Exchange
fell by $17,000,000,000 in the
period from Sept. 26 to the lows
Tuesday. .:
That was only 9 per cent of the
value of allshares at the end of
August when the value was
$197,994,193,374, but it was an
amount lufficient to build a thru-
way at a million dollars a mile
two-thirds of the way around the
world.
Share valuation at the end of
September stood at 5197,536,
241,956, a decline of $457,951,418
fctfor September which had exper
. fenced a sharp rise to the 23rd
and a sharp drop the following
Monday on news of President
Eisenhower's illness.
The general average price of
all stocks listed at the end of
September was at $56.45 a share.
against $56.72 at the end of
August, a dip of only one-half of
1 per cent, according to the New
York Stock Exchange's 'compila
tion.
The marke made its bull mar
ket high on Sept. 23. Up to that
date from June 13, 1949, when
the bull market began, the in
dustrial average rose 325.85
points or 202 per cent; railroad
average, 123.25points or 300 per
cent; utility average, 32.14 points
or 96 per cent, and the 65 stocks
used in all three averages, 115.76
points or 200 per cent.
Industrial Average Down
From Sept. 23 to the lows
Tuesday, the industrial 'average
declined 54.26 points or 11 per
cent; rails 20.21 points or 12 per
cent; utilities, 4.48 points or 7
per cent; and 65 stocks, 18.76
points or 11 per cent.
The foregoing declines repre
sented about .16 per cent of the
prolonged rise in the bull mar
ket over the near 6V2 years of its
life the longest bull market in
the history of the nation.
tional forests and other public
timber lands.
Senator Morse noted that the
Rogue River National forest and
O and C lands provide multiple
uses, but that areas in the Rogue
River National forest have not
"reached their full allowable cut
and there is a real need for an
inventory that is up to date so
that the industry in this area
can be sustained."
Senator Morse noted that the
Rogue River National forest has
many million board feet of tim
ber on it, based on "the anti
quated inventories of the forest
service."
The areas, he said, must be
managed on a businesslike basis
if business is going to be kept
healthy. "I would not want to
see any sawmill close down
simply because the federal ag
encies are putting up their full
allowable cut but did not know
that the allowable cut could be
increased 50 per -cent."
He pointed out, however, that
multiple uses of lands cannot be
sacrificed for one particular in
dustry. He noted that areas are
valuable for water sheds and
mining. He said revenue's from
forest lands "now exceed the
'payment per acre that similar
private land makes in taxes,"
Perfect Circle
Plant Reopens as
Guns Held Ready v
New Castle, Ind (U.R) The
violence-torn Perfect Circle
Corp. foundry, girded by tanks
and machine gun nests, reopened
for production today. But the
striking CIO United Auto Work
ers vowed to continue their fight
until it is won.
About 110 supervisory and
non-striking employes went back
into the battered foundry exactly
one week after nine persons were
wounded, eight of them shot, in
a shotgun battle at the plant.
Guardsmen in Area
A total of 1,000 National
Guardsmen were in the New Cas
tle area to enforce Gov. George
N. Craig's order that the plant
could resume production. The
troopers, 600 of them in New
Castle, were armed with the
authority of full martial law in
a two-county area including
three cities, four strikebound
Perfect Circle plants, and 50,000
persons.
The guard's force was centered
at "the New Castle foundry,
where four Shermdh tanks and
machine gun nests were spotted
at startegic points.
Five Pickets Planned
The strikers planned to post
only five pickets at the plant
when it opened its doors today.
But in a cheering, shouting meet
ing Tuesday night, they resolved
to continue the walkout no mat
ter how long it takes or how
much it costs.
William Caldwell, UAW inter
national representative, said the
union won't settle until it gets, a
union shop and 35 pickets who
were fired last week are rehired.
The UAW backs the strike "all
the way" and is ready to spend
"every dime" of $25,000,000 in
strike money to win the fight,
Caldwell said. -
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which are important to local gov
ernment, schools and roads.
Senator Morse pointed out that
Public Law 167 would be help
ful to the forest service and the
bureau of land management in
determining which mining
claims are valid and which are
not. He noted one problem in
Rogue River National forest near
Union Creek where some 56,000
acres are "plastered with mining
claims."
The Senator noted that "it is
extremely important we do not
discourage the legitimate miner,
but those who file claims and
disrupt timber users and recrea
tionists should be discouraged
by every possible proper meth
od." Access Road Problem
He noted there is an access
road problem into forest service
and O and C lands, and said it
is the duty of the government
to regulate access roads to pro
vide access for small lumber op
erators who bid on small tim
ber tracts. ,
He said merchants in this area
depend on the lumber industry i
and "we must get the lumber j
out of the national forest to the !
allowable cut." Senator Morse i
said he was against "letting lum-!
oer De bottled up, and govern- ;
ment participation would pro-:
tect the economic freedom of
choice.
WOODCHUCKS DRAFTED j
Beaver Island, Mich (U.R) ;
Conservation officials h a v e j
transported 11 woodchucks to 1
this island park in hopes they
will dig burrows for the rabbit
population. They said the rab
bits won't die their own homes
and have not adjusted themselves
to their surroundings in the two
years they have been here. .
TOO NEAR. PERHAPS
Warren, R. I.J.R) The air
raid siren in this little com
munity was heard clearly in a
half-dozen surrounding . com
munities. But the residents of
Warren couldn't hear it very
well.
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