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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Aug. 3, 1956)
Medford United Prtu Full Leased Win Mil Tribune United Press Full Leased Win. Second Section MEDFORD, OREGON, FRIDAY, AUGUST 3, 1956 8 Pages Westerners Will Do Well To Memorize Name Of Little Investor From Hawaiian Islands Honolulu (U.R) Californ lans, Canadians and others in the West will do well today to begin memorizing the name of Chinn Ho, a little man from Hawaii who likes to do things in a gigan tic fashion. Chinn Ho is a 52-year-old bun dle of well-trained energy who in the past 10 years has exhibit ed a Midas-like touch and has gained a financial wizard's repu tation with a wide range oi proj ects in Hawaii and elsewhere. Now, he is running Henry J. Kaiser close competition for the commuter's championship to the mainland. There, within the past few months he and his associ ates have committed themselves to long-term investments into the tens of millions of dollars. D.r.lopm.nt Planned The biggest and most ambi tious to date of the mainland projects was the purchase and plans for development of the Mc Near Ranch acreage in Marin county, California, into a resi dential and resort area. Already, a team of some 40 divisions is working on the details to invest an eventual $100,000,000 in the area. It is no coincidence in Chinn Ho's planning that the project will be within a few min utes auto ride to East Bay popu lation and industrial centers when the Richmond-San Rafael bridge is completed. Chinn Ho is an American of Chinese ancestry whose family has been a long time in Hawaii. He was graduated from Hono lulu's McKinley High school in 1924. Even though he claims he was something less than average as a student, the fact remains he was chosen treasurer of his class. ' Quiet Operator Aside from his reputation, Chinn Ho neither looks nor plays the part of a financial tycoon. He is known in financial circles as a "quiet operator." He can as sume a poker-faced stoic expres sion along with the best of his race. But his eyes never lose his thinking and operations are as American as an apple pie. In the face of so-called big five companies control of Hawaii, Chinn Ho has risen in 30 years from bank clerk to president of the multi-million dollar Capital Investment company which he says specializes 'in investments and special situations." The back bone of the enterprise has been a brokerage company and land de velopment operations. Looks to Litlle Fellow The muscle of Chinn Ho's oper ations has been what he terms 'the little man with a few dol lars to invest." He doesn't spurn big-money investors, but he looks upon most of the wealthy busi nesses in the islands s too static and backward-thinking to see Jhe future before them. And on at least one occasion he seemed to prove that thesis. It was in fact the dissolution of one of Hawaii's oldest sugar companies in 1946 which was the springboard for Chinn Ho's Cap ital Investment company into the big time of Hawaii finance. Chinn Ho and his associates scraped together $1,250,000 to buy up the 10,000-acre Waianae plantation which saw no future for its land when driven out of the sugar business by high costs. Created a Town Ten years later, Capital Invest ment company had created a town of some 5.000 residents where only 180 plantation work ers once lived. Approximately half the land has been sold to small farmers and for residential sites. A good portion of Honolu lu's vegetable produce comes from the farm there and 1,200 of the best beef cattle in the islands range there. And Chinn Ho and his associ ates still own a valley and valu able beach land that promises one day to become the second Waikiki as a resort area. One of Chinn Ho's more spec tacular accomplishments involv ed 136 acres of sugar land which one of the big sugar companies estate for 57 years when it came up for renewal of lease in 1955. The sugar company, apparent ly in an effort to keep the lease rental down, was slow in renew ing. Chinn Ho stepped in quietly and bought the land for Capital Investment company for $450, 000 with the announced intention of creating a residential subdivis ion. This would have surrender ed the company's sugar mill and cut it off from its only access to its cane fields. Quick Profit Chinn Ho did not build the subdivision, but 42 days after buying the land he sold it to the sugar company for $150,000 prof it. His only public comment was in his annual report to stockholders: "We accepted wholesale profit of $lo0,000 in lieu of projected subdivision profit of $350,000," he told the stockholders. No boasting, no fanfare. What he didn' tell them, was that he could have swung the deal as a private individual outside the company and pocketed the entire profit himself. "But that would not have been ethical," Chinn Ho told United Press. "Imagination, initiative and having the courage of your convictions are important points toward achieving success. But your fundamental needs are a good character and integrity." Back Stairs: Stassen Generates Anger BY MERRIMAN SMITH United Press Correspondent Washington (U.P.) Back stairs at the White House: Nothing that has happened in the Eisenhower administration in recent months has generated more anger than was produced by Harold E. Stassen's public ef forts to "dump Nixon." A number of Mr. Eisenhower's current associates worked with Stassen during some of his earlier political efforts and they feel today that Stassen's new doghouse status might run off on them. Bernard Shanley, appointment secretary to the President, was Stassen's 1952 national campaign manager until Mr. Eisenhower came home from Europe and de cided to run. Today Shanley finds himself in the position of being a close friend of Stassen. Yet Stassen did not tell Shanley in advance of his campaign in behalf of Gov; Christian A Herter over Vice President Nixon. Mr. Eisenhower was winding up the conference of American presidents in Panama. Stassen's announcement that he favored Herter over Nixon blanketed the news coming from Panama and some of Mr. Eisen hower's closest associates have tried without success to find out why Stassen pulled off his big political announcement at that time. day, he said he still regarded himself as a member of the Eisenhower "team." One of the President's advisers watched Stassen's comments come in over the news ticker Salem U.P Some 4500 Jeho vah's Witnesses were expected here for the opening session of a four-day Northwest district as sembly at the state 'airgrounds. and observed: "Sure, but they took away hl headgear." A new member of the White House staff was asked about his relationship with the assistant to the President. "He doesn't know me from Adams," said the newcomer. When Stassen returned from his hurried trip to the President's home at Gettysburg, Pa., Mon- SWIM! COOL Heated Tiled Pool PATRICK CREEK RESORT On U.S. Highway 199 to Crescent City New Motel Lodge Rooms Excellent Food Relaxing Refreshments OFF! Quite aside from political con siderations, the White House staff has a real burn on for Stassen because he timed his political bombshell just when Ninth Annual Gold Rush Jubilee Starts in Jacksonville Tomorrow their mischievous twinkle and had been leasing from a private Jacksonville The ninth an nual Gold Rush Jubilee with its royal court, music, parades, and contests opens at Jacksonville tomorrow morning. It will last until the end of the final dance Sunday night. The event is sponsored by the Talent, Crater, Medford, and Jacksonville Lions clubs. Frank Christian, Murry Dumas, and Glenn Linn are associate chair men. First event tomorrow will be the introduction of officials and coronation of the Queen, Shirley May Lilly. Russ Jamison will be master of ceremonies for the coronation at the judge's stand in front of the U. S. Hotel. Princesses Listed Princesses this year are Mari lyn Stewart, Dixie Jennings, Marion Christean, and Dixie Lee Walker. The Kiddies parade will start down California st. at 10:30 a.m. and between 11 a.m. and 12 noon there will be a free bar-bej-cue at the Jacksonville High school field. Bliss Heine's Juniors will present a noon concert at the judge's stand. Southern Oregon Society of Artists will sponsor the sixth an nual art exhibit beginning at noon Saturday in the library. Gold panning, greased pole climbing, and watermelon eating contests are scheduled for 12:15 and 12:30 p.m. Anticipated as a special fea ture of the gold panning contest is the challenge offered A. R. Enyeart by Bert Kissinger. Eny eart resides in Central Point and was christened "world's champion" gold panner at the Diamond Jubilee in Medford in 1934. At that time he won over leading contestant from four western states, Australia, Alas ka, and British Columbia. Kiss inger is a Medford resident, with his home at 520 Boardman St., apartment 1. 4-H Judging At the high school field Sat urday afternoon there will be 4-H judging. An address by Wil liam C. Rohlfing, district gov ernor of Lions clubs is sched uled at 2 p.m. Log bucking, ax throwing, and chopping contests are included in the entertain ment. On display at the old post office building will be clothes POSITIVELY 7 HOURS ONLY - SAT., AUG. 4 - 10 to 5 P.M. World Famous Precision 1956 Model BRAND NEW Round Bobbin Sewing Machine . UmhroMors Sews forwords and B averse Over Pint, Ere., Without Attachment Rcgvfar $149.50! Advertised in Leading Publications Everywhere SAVE $109.55! Whit They Last! Get Yours Now! Now Only easy terms MONEY BACK GUARANTEE! This Safe Will Not Be Repeated! Positively Only at Hours Advertised! Double Check ALL These 14 Deluxe f Expensive Features! FULL SIZE HEAD UtlT-tN BAJUMt ATCM-O-MATIC lS ,OC Ul Ul a O Ul Z O z a at o 2 ut oc ui Q on O Ul Z O z a. O z at O AMOMAMC 25 YEAR eUARAMHU ToJ WfjiA "iKL- ' J-- ova eter li! 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Bartleft-Next to Greyhound Bus Depot MEDFORD, OREGON 3 POSITIVELY 7 HOURS ONLY - SAT., AUG. 4 - 10 to 5 PM. made by girls of the Home Eco nomics section of the Applegate 4-H club. Those presenting entertain ment during the day will include Miss Pat's dancers, Collen Hope's dancing group, Mrs. Alexander's Hawaiian band, Dave Ashton playing the guitar, Caesar Muzi olli's accordion band and the Forest Chapman Guitar studio. The annual pageant will be presented in the Jacksonville city hall at 8 p.m. John Lusk's dance band will furnish music for dancing between 9 p.m. and 1 a.m. at the Community hall. Sunday Breakfast Beginning at 6 a.m. Sunday morning and continuing until noon, the Jacksonville Lions will serve ham. eggs, pancakes and coffee breakfasts at the Commu nity hall. Several churches have sched uled Sunday services. At the his toric Methodist church, oldest protestant church west of the Rocky mountains, two special old time gospel services will be heard at 9:45 and 11 a.m. The Rev. Richard Merriman, Ash land, will speak on the topic "Good Prospecting." Mass will be' held at St. Jo seph's Catholic church at 10 a.m. The Presbyterian and As sembly of God churches will hold regular services at 11 a.m. Location Listed The old Methodist church is located across the Main street from the museum. Recently, the roof was reshingled and the bel fry straightened by the city. Otherwise, the church stands al most as originally built. The Sunday afternoon . pro gram starts with the Old Fashion parade at 12:30 p.m. followed by the grand parade at 1 p.m. Dr. Clifford Miller of Southern Ore gon college will speak at the museum at 2:30 p.m. Musical groups will entertain during the afternoon and at 4 p.m. the Old -Fiddlers' contest will be held at the judge's stand. Dancing at the Community hall will' last from 9 p.m. to 1 a.m. Clackamas Boy Dies As Fire Razes Home Clackamas, Ore. (U.R) Dan ny Potter, nine-year-old son of Mr. and Mrs. John Potter, was burned to death yesterday in a fire in the Potter home,, a Clackamas landmark. Four persons escaped the blaze that destroyed the two story building, the former Clackamas hotel, built in 1867. Mrs. Potter and her one-and- one-half-year-old daughter ran out of the house as it was en gulfed in flames. She said she screamed at Danny and her niece, Mrs. Arthur Wickert Jr., 18, and the Wickert girl, Bar bara Jean, 2, to get out. Mrs. Wickert, who is preg nant, tossed her daughter out a second story window and then jumped herself. The boy appar ently was unable to find his way out of the flaming building. Mrs. Potter said the fire was caused by an overheated wood stove that exploded. New Haven, Conn. iU.R! A Yale medical expert says babies are not the only ones who swal low things. Dr. John A. 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