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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Nov. 8, 1955)
Sharp Restriction on Giant Corporations Urged in Testimony Washington !U.PJ A for mer big business executive toid Congress today it should sharp ly restrict, and even break up, General Motors and other giant corporations. Theodore K. Quinn of New York, a former vice-president of General Electric Corp., said the government should stunt the growth of corporate giants. He made the statement in testi mony prepared for the opening session of Senate Monopoly sub committee hearings on General Motors. The hearings will last four weeks. Quinn proposed setting a limit of perhaps $100,000,000 on the net worth of a corporation. Firms larger than that would incur in creased income tax rates and would not be allowed to absorb other companies. Their officers and directors could not serve other companies. The giant firms would be required to publish a profit and loss statements and balance sheets for each depart ment yearly. Could Avoid Penalties He said a firm could remove itself from this class and the at tendant special penalties by breaking up into smaller com panies. General Motors is the nation's largest manufacturer, with an nual net sales of $10,000,000,000, annual net profits of $1,000,000, 000, and a total worth of $5, 000,000,000, the subcommittee said. Quinn charged that mere size in a corporation is bad "in a world of mice, cats are evil . . . any active giant is evil per se in a land where it Is sought to preserve life, liberty and oppor tunity for the ordinary individ ual." Quinn, now president of two small firms, is the author of two books attacking big corporations. He said, "the decisions of com pany managements like General Motors and U. S. Steel can de termine the whole course of a country's development ... re gardless of our people or their representatives." Could Silenca Protests Quinn charged that "by ad roit use of its purchasing power" GM could silence anyone who protests against it. He said GM acquired 76 per cent of the na tion's locomotive business "What railroad president would dare say no to the largest ship per over his lines?" Quinn also charged that news paper and magazine editors do not protest "the evils of giant ism" because "they must be con stantly careful to see that noth ing in their papers offends any giant advertiser." Quinn's proposal for a high er tax rate for big corporations would require a change in pres ent tax laws. Corporations now are taxed at the rate of 52 per cent of their annual profits over $25,000. An important advantage of the loose housing system for dairy cows is the lower risk of injury to legs and udders. j- ANNOUNCE STOCK SALE Third generation heads of the Ford Motor Co., shown in company offices at Dearborn, Mich., have announced plans to offer sale of stock to the public. Executives are Henry Ford n (standing), company president, and brothers, Benson (left) and William Clay. In background are portraits of the late Henry Ford (right) and son EdseL - - - - MagsaysayOpponents Manila (U.R) Opposition Senate candidates took an early lead in the violent Philippine election today against the hand picked nominees of pro-American President Ramon Magsay say. First returns from 12 provin cial capitals and chartered cities showed five Liberal Party can didates leading against Magsay say's Nacionalista Party candi- ig Pre-Season Sav ings On a look ahead to the cold weather that's sure to come. BUY NOW at a low pre-season Sale price that's sure to save you PLENTY! Choose from a stunning selection of brand new tweeds, splash weaves or Saxonys . . . handsome coats you'll be proud to wear for years to come. ALL WOOL TWEEDS, SAXONY'S, SPLASH WEAVES in . . . Browns Grays Blues Black Tans Regular Shorts and Longs Sizes 35 to 44 o TOPS for Style TOPS for Value REGULAR TO 49.50 MIEN 229s EAST MAIN STREET lA-urm - t cNloAf open MEDFORD, OREGON Leading in Election dates in nine contests. Thirty persons were killed and 102 injured in the campaign pre ceding the election. However, no trend is indi cated, since it will take hours before returns start trickling in from Magsaysay's rural strongholds. Knowland Warns on Russia as Sanctuary Miami, Fla., (U.R) Senate Republican Leader William F. Knowland warned today against making Russia a "privileged sanctuary" if the Chinese Com munists go to war with Soviet arms. Knowland urged caution con cerning a proposed European security pact with Russia which would allow it to send, arms and "volunteers" to other Commu nist aggressors as it did in the Korean War. The GOP leader, in a speech prepared for the United States Savings and Loan League, also said the United States should refuse to sign any pact with the Soviet Union until Russian forces are withdrawn from Eu ropean satellites and the captive peoples allowed to hold free elections. Klamath Lumberman Dies in Plane Crash Klamath Falls '(U.R) A Klamath Falls lumber buyer was killed shortly before noon yes terday when his light plane struck a radio tower and crashed at Canby, Calif. Killed was C. A. (Collie) Reed, formerly of Roseburg, Ore. The plane's wing struck a radio tower and was sheared off as he took off at the Canby field. The light craft crashed into a tele phone pole. Reed had flown to Canby, 80 miles south of here, on business earlier in the day. Tuesday, November 8, 1953 MEDFORD (OREGON) MAIL TRIBUNE ELEVEN Plane Crew Arrested Pending Crash Probe Mexico City "(U.R) The in jured pilot and co-pilot of a plane that crashed Saturday, killing Comunications. Minister Carlos Lazo.and six others, were under arrest today pending an investigation. Officials at Central airport here said they believed the crash was caused by improper maintenance of the plane engines. Premature Snow Reaches Into Texas By UNITED PRESS A premature winter snow storm cut deep into the heart of Texas today while record breaking Indian summer reigned in California. From two to four inches of snow fell on the Amarillo area in Texas' Panhandle and Lub bock reported one to two inches. The snow continued through the night, moving eastward, and falling temperatures were ex pected to follow. Meanwhile, the 82 at San Francisco yesterday set a warm weather record for Nov. 7. Los Angeles was even warmer, with 87 degrees. Cold weather covered most of the country, however, spread ing from the Rockies to the Atlantic states. The temperature dropped to 10 below zero at Fraser, Colo., and was in the 20s and 30s from the Midwest to New York. Portland Chalks Up 35th Traffic Death Portland (U.R) Portland j had its fifth traffic fatality in i nine days yesterday when Ed-; ward L. Krebs, 73, was struck and killed as he walked into the path of a car. Police said Krebs had just stepped off a bus when he was struck by a car driven by 19-year-old James Wayne Miller. It was Portland's 35th traffic death of 1955. Earlier Monday, Rupert Ar land Miller, 27, Veronia, was killed in a Sunset highway crash in Clatsop county. Miller was a passenger in a car that skidded off the highway, threw him out and then rolled over him. Driver was Susie A. Atkins, 28, of Mist, Ore. Murder Conviction Brings 120-Year Term San Juan, Puerto Rico tU.R) Lucas Castro Anguita, 79-year-old wealthy merchant, was sen tenced Monday to up to 120 years in prison on a murder and assault conviction. In his second trial Castro was found guilty on eight counts of second degree murder and two counts of assault with intent to murder. Originally he was sen tenced to life imprisonment aft er being convicted of criminally setting fire to a textile ware house in which eight persons were burned to death on Dec. 15, 1940. Wrestling E NOVEMBER 9 . Grants Pass Arena GRANTS PASS, OREG. Starting Time 8:30 p.m. MAIN EVENT For the North west Heavyweight Title Belt which was held up last week by the Grants Pass Boxing Comm. John Paul Henning, 215 Florida vs. . Bull Savage, 218 Chicago Best 23 falls no - time limit! SEMI FINAL Best 23 falls or 1 hour limit.' Luigi Macera, 205 Montreal Vs. Thor Hagen, 204 Minnesota Matches under the supervis ion of the Grants Pass Boxing Commission. For Action, Use Tribune Want Ads Part of the fun of football comes after the game when, you relax with friends to discuss' the thrills of the afternoon over brimming, sparkling glasses of refresh ing Olympia Beer. "It's the Water" that makes the dehghtful difference. The rare brewing water from our deep artesian wells extracts the delicate flavors from choice hops and grains -assuring the same good taste every time you-enjoy Olympia. "Its the Water" that makes the difference Visitors are always welcome to "One of America's Exceptional Breweries," Olympia Brewing Company, Olympia, Washington, U.S.A... vr
