Image provided by: University of Oregon Libraries; Eugene, OR
About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Sept. 20, 1956)
EIGHT- MEDFORD (OREGON) Importance Cdlfr't not: A poll taken thii wr.a bt Ui Wall Scr-el Journal that anlT all at f It Araerl rana could rvrn locate the Ka-z Canal an a map. let alone nndentand wny It kaj broucnt jn a world criila. Br uniteiTpress Why all the shouting and maybe shooting over the Suez Canal? Why is one waterway so important it has brought a world crisis? What difference whether Egypt operates it or an interna tional authority? Let's take a look at some fundamental facts about the Suez Canal: It is 101 miles lone. The Pana ma Canal is SO. The Suez runs at sea level, without locks, from the Mediterranean to the Red Sea. It links Europe with Asia and with the oil fields of the Middle East. On any given day 40 to 50 ships traverse the canal. They are carrying one-sixth of the en tire maritime cargo of the world and 85 per cent of it is going to or from Europe. The Suez ton nage last year was 115 million on 14.B68 ships almost three times that of the Panama. Europe consumes 2.500.000 barrels of oil a day.' About 1,200.- Sen. Morse Blames Tight-Money' Policy For Slump in Lumber Portland (Special) Sen. Vayne L. Morse today blamed the "tight money" policies of the administration for declining .umber markets. In a statement released here today, he said, 4,As you know, our principal industry in Ore gon lumbering and wood pro ducts has not been experienc ing prosperity this year. If the economy is booming as claimed, the boom has not trickled down to Oregon's lumber and wood products industry.' His statement continued: The reason for the decline is simple. Oregon's lumber sales are large ly dependent upon home build ing across the nation. And this year, home purchases have been slowed by the tight-money, high-interest-rate policy of this' ad ministration. It means that peo ple who would like to buy their own homes are being forced to pay a lot more for the money they borrow for their mort gages. For many people these high Interest rates have made buying a home too costly. Housing Starts Down At a result, this year the na tion's new housing starts have dropped from 1.4 million units to 1.1 million a decrease of 21 per cent. On the West Coast this means a drop in lumber sales to the tune of 1 billion board feet. The slump in new bousing starts has affected Oregon. This year our lumber production is below that of recent years and about equals the rate of 1950 a year that stands out in memory for Oregonians as a bad year be . cause of a harsh winter that hurt logging. Here's what the Oregon State Tax Commission has to say about the decline in our lumber in dustry: "The biggest adverse factor at the present time is the drop in new housing starts. This decrease shows up locally in smaller order files, shorter work weeks, lower prices and lower published earnings. From a rev enue standpoint, the conse quences growing out of the drop in housing starts could be quite serious because of Oregon's posi tion in the lumber industry." The Oregon Business Review also indicates the effects of high er interest rates on our lumber industry. Comparing this June with June of last year, the Re view finds that weekly produc tion is down 4 per cent, weekly orders are down 18 per cent, un filled orders have dropped 13 per cent. Lumber industry em ployment for June of this year is off 4 per cent from last June. Consistent Policy High interest rates have been one of the few consistent policies of this administration. In 1953, only nine days after the inaug uration. Secretary of the Treas ury Humphrey announced in creases in government bond rates. Many economists argued that these measures were too harsh for our economy to bear Pickin' Pears The VAVS honor plaque bears for this week the card of Ameri can Red Cross, reported by H. Jaffrey. acting VADC manager, as the group honored for their services. American Gold Star Mothers chapter sponsored the Septem ber birthday party at the theatre Wednesday evening. Eva Camp bell, Mary Parker. Mable Nichol son and as guest aide. Ann Cog hill, distributed gifts and served birthday cake. Thursday evening at recrea tion center. VFW 6412 honored Dan Krotz. the district command er following his formal post in spection. A program of the Daryl School of Dance from Grants Pass and the Muzzioli Accordion studios provided en- MAIL TRIBUNE of Vital Suez Canal To 000 of it passes daily through the Suez. Some 800.000 comes through pipelines to the Mediter ranean, the remainder from North and South America. Flow Stopped Should the Suez flow be stop ped. Europe would get only half as much oil products for its auto mobiles, furnaces, factories. The alternative for getting Middle East oil would be for tankers to go around the Cape of Good Hope at the southern tip of Africa. That is about 5,000 miles longer to London. The company charged a tanker carrying 100.000 barrels of oil $12,000 to use the canal. It costs about $3,000 a day to keep a tanker at sea. So in four days on the cape voyage the $12,000 would have been spent and the remainder of the voyage would be tremendously expensive. Great Britain gets its tea from Ceylon, its cotton from India, its wool from Australia, its rubber from Malaya. The voyage from Bombay to London via the Suez is 7,028 miles. By the cape it is 12,548. and I opposed and fought this policy as soon as it was an nounced and pointed out it would mean a heavier national debt. The Treasury soon discovered that its high-interest-rate policies were, indeed, too harsh. The 1954 recession has been very justly blamed on high interest rates. Meanwhile, the big New York banks made enormous profits. Total bank profits are up 23 per cent and have hit the billion dollar mark for the first time in history. But not all banks are sharing the profit boom. More than two-thirds l all 1953 profits went to less than 3 per cent of the U. S. banks. Tests Scheduled for NROTC Candidates Vice Admiral James A. Hollo way Jr., chief of Naval person nel, has announced that the llth annual national competitive ex aminations for the Navy's re serve officer training corps will be given to interested high school seniors Dec. 8. Application forms must : be filed before Nov. 17. They are available at all high schools, col leges and Navy recruiting sta tions. The Navy NROTC program Is designed to allow students to earn a commission while study ing at the civilian college of their choice which has an NROTC unit. All tuition, fees and books are furnished by the Navy. The student also receives an annual retainer pay of $600 for four years. During the summer the stu dent goes on a training cruise as a midshipman. After gradu ating from college, the student is commissioned in the regular Navy or Marine corps and goes on active duty. Immediate as signment to flight training is possible. The NROTC college training program is also open to enlisted men on active duty with the Navy and Marines. Separate quotas are established for appli cants from within the service. Western Engineers Elect Arizona Man The Dalles (U.R1 Roger Er nest. Arizona state engineer, was elected president of the Asso ciation of Western State En gineers here yesterday at the conclusion of the group's three day convention. A resolution adopted by the group said that the federal gov ernment should yield water rights it now holds in western states to the states, keeping only the rights needed to regulate commerce. Faster handling of projects to and through Congress also was passed. News and Notes From Camp White tertainment. The kick-off opening of the fall dance season of VFW was held Monday night. Music was furnished by Marshall's orches tra of Medford. A group of Rose burg and Myrtle Creek VFW guests attended. In the party were Cora Carlson. VA Hospital Chairman for Roseburg area. Larry Hill and daughter, Dar lene. and Roy Richards from Rosebug. Ann Ricketts. Pat Holt, Lucile Halverson and Jonnie Garrett of Myrtle Creek com prised the group. . DAV Post 11 of Grants Pass with Theresa Clayton and Bue lah McEwen in charge conducted a game party Monday afternoon. Cigarettes and candy ware served. Thursday, September 20, 1 958 The Suez was built by a pri-1 operation. Last year its total rev- vate French company, completed : enues were S97.596.000 and its in 1869. There are now some : gross profit S45.000.000. Shares 800,000 shares of stock outstand-1 before the scizuo sold around mg. The British government S300 apiece. Last year they paid owns 44 per cent. Private in dividuals in France hold about 42 per cent. The rest is scattered around the world. Profitable Operation The Suez is a very profitable a s ... Warn?- 7 W.-t H - iaa&atiriliri TajaMfcuaaaaatM I Til II H1H 1 1 Cj Nations of World Explained dividend of S30.50 more than 10 per cent. In a treaty signed in Constanti nople in 1888, the then major powers of the world agreed that the canal must at all times be THESE PRICES REPEAT OF A SELL-OUT! ASSORTMENT COSTUME JEWELRY leg. 4 .95 FOR ri - t , a. . Necklace Earrings Bracelets SAVE TIME! SAVE WORK! With a Fabulous Twin Brush Floor Polisher Regular $59.50 ow $2988 With NO MONEY DOWN open to every nation of the world. Last year it was used by ships of 40 nations. Britain had military occupa tion of the canal zone for 72 years. At one time it was a vital military passageway, but the ad vent of jet planes and the atomic bomb drastically reduced its im portance. Last year partly at American urging Britain pull BIG 2-DAYS ONLY SPECIALS! ANNIVERSARY GOOD FOR FRIDAY AND SATURDAY ONLY! I00 NO MONEY DOWN ADD TO ACCOUNT SPECIAL PURCHASE! TV Tables With Casters Reg. 12.95 Each Polisher $1.00 Extra For Scrub Brush JV7, I ed all of its 80.000 troops out of the canal zone. Nasser's seizure and nationali zation of the canal came within less than a year. During the Arab-Jewish war, Egypt closed the canal to Israeli ships. Some of those nations whose life blood depends on the canal see nothing to stop Egypt from making a unilateral decision again about who can use the waterway. To 400-DAY Anniversary CLOCK WITH GLASS DOME A charming mantel clock that needs no winding for 400 days. Reg. 29.95 NO MONEY DOWN - 50c A WEEK STURDY CARD TABLE Choice of Colors CHAIRS TO MATCH NO MONEY DOWN DONT MISS THIS BUY! 21 Piece Aluminum COOKING SIT Waterless REGULAR $11 88 539.95 j j NO MONEY DOWN - $1.00 A WEEK - iT-MpX "lalM 3G Take Along Plenty of GRUB On Your HUNTING TRIP! SAVE AT . . Buy or Sell - Use Tribune Classified Ads SALE 1.88 - 50c A WEEK Heavy Gauge Aluminum OK MARKET 1202 North Rirenid. OPEN EVERY pi z ft NIGHT TIL M f&v MIDNIGHT j&l j
