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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Oct. 23, 1956)
Second Section Pages 1-6 MEDFORDfBkiTRIBUNE fabulous Q&keiV sweaters for young women going places MEDFORD, OREGON, TUESDAY, OCTOBER 23, 1956 'Tight Money' Policy Said Turning Oregon Firms To Federal Loans BY A. HOBERT SMITH Mail Tribune Correspondent Washington The "tight money" policy of the Eisenhow eradministration is causing an i n c r easing number of Oregon small businesses t o seek loans from the fed e r a 1 govern m e n t instead of local banks. This is re flected in re- Robt. imu pons ox me Small Business Administration (SBA), which is receiving a re cord number of loan applications from small firms in the Pacific Northwest and the country at large. SBA has authority to make loam up to $250,000 to indivual privately owned firms which employ no more than 250 work ers and have a retail or service trade business of no more than $1,000,000 annually, or $5,000, 000 In wholesale trade. Since it began operations in October 1953, SBA has made 59 Icfens to Oregon businesses ag gregating $3,255,000. Of these, 23 have been issued this year, and more have been applied for and are under consideration. SBA Administrator Wendall B. Barnes estimated last week that his agency will receive over 700 loan applications this month for a record high. This past month SBA approved loans to 201 small concerns for $7.$ million. Talent Firm's Loan Approved Among' those loans approved for Oregon businesses recently, there was only one in the Med ford area. It went to Skeeters and Skeeters of Talent. The amount was $115,000. A majority of Oregon loans went to Portland firms, but the largest went to RushMore Lum ber Co. of Bend. It was for $250,000, the maximum allowed by the law. The upsurge in the number of loan applications from small concerns Is explained by SBA as a consequence of the "tight money" policy which is being pursued by the administration and specifically the Federal Re serve Board. The administra tion has tightened up on bank lending by raising interest rates and rediscount rates in an effort to curb inflationary tendencies in the national economy. Substantial Shift SBA pointed out that when credit is tight, small businesses as a rule have more difficulty borrowing from commercial banks than do larger firms, for New Dodge Has 'Sweeping Fins' Detroit CU.fi" Dodge has in troduced its 1957 models with "swept-wing" rear fenders the company says are "comparable to the rudders of airplanes or racing boats." Dodge President M. C. Patter son said the sweeping fins, styl ing keynote of the new cars, "also have the definite function al purpose of stabilizing the car in crosswinds." The new cars also have re styled grilles. 14-inch wheels, more powerful engines, in creased glass area, torsion bar suspensions and lower silhou ette. Four separate series make up the new Dodge lint; the Cor onet, Royal, Custom Royal and station wagon. From these, buy ers may choose from among four different four-door sedans, three four-door Lancers, three two door Lancers, two club sedans, two convertibles and five station wagons. TALL TOMATO Springfield, Mass. (U.R) "Joe and the tomato stalk" is the way friends refer to Joseph Ballatore of Springfield. This year he grew a tomato plant 14 feet high in his backyard. the banks will tend to lend up to their limits to those, borrowers who are regarded as the safest risks and usually this means some small businesses will be re jected. A Federal Reserve Board survey of bank loans illustrates that there has been "a substantial shift" in the distribution of bank loans from .smaller to larger bor rowers. This showed that 1946 businesses with assets of $50,000 or less took 64.5 per cent of all bank loans, whereas today they have dropped to 46.2 per cent. Those with assets from S50.000 to $250,000 have gone up from 24 to 35.6 per cent, and those up to $5,000,000 in assets have gone up from 8.3 to 14.5 per cent. Should Cut Interest Rates From these facts have stem med many election year argu ments, especially by the Demo crats who charge that the ad ministration has been out to help big business to the detri ment of small business. They say interest rates should be re duced and credit loosened so that small firms can more readi ly obtain loans for expansion and improvements. The administration contends that its tight money policy has effectively slowed down infla tion and stabilized the value of the dollar. It says that small business failures, which hit a record post-war peak the past year, have been due to the lev-, cling off of residential construc tion and auto production, among other things. It points out that business failures were much higher in prewar years than they are today, and that there has been a net growth in the number of new business firms. (DOCTORS ,KN0W thif ipecialized tablet il made to bestlityourcmia i f oeeiJl.Trjl!todjl C ST.J0SEPH ASPIRIN FOR CHILDREN Writs litest Selling Astiria For Childm Now Save Over 40 Helena Rubinstein's Contour and Throat Treatment 'Lifts" Years off your Looks fe,44 teg Now be an eye witness to the "lift In?," tightening wonders that have made Helena Rubinstein's remarkable Contour-Lift Film world famous. See yourself looking younger as your chin line tightens, eye puffiness diminishes, wrinkles seem to vanish. When you pat in Contour-Lift Film youH actu ally feel the "lifting" action. 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V iff The softest, smartest sweaters you've ever seen made of wonder ful Kharafleece a queenly blend of Vicara and Australian wool. 1 The classic cardigan fit as a fiddle with handsome ribbing a gentle round collar ... 5 colors. 34-40 11.95 2 Pedigreed pullover with a pixie pebble-stitched collar 6 colors . . . 34-40 '. 1 10.95 3 Full-fashioned cardigan with a gamin-like collar carefully rib bed for figure-flattery . . 3 colors . . 34-40 12.95 4 Italian influenced, contrasting color blocked collar and cuffs. 4 colors . . . 34-40 9.95 P.S. Jantzens are utterly moth-proof thanks to "Mitin" Jantzen Kharafleece Skirt . . . dyed-to-match Comes in oil the colors to-match the sweaters above is smartly arrow narrow and reversible from back to front, for long wear . . . sizes 8-18 11.95 checkerboard T-shirt . . . res a boat neck line and sleeves in red or g bulky knit cardigan . . . Fashionable detailing in new cotton knit "Pepplette 6.95 both are completely washable. If. SALE ! SKMTS full circle quilted taffetta An amazing anniversary value! Stunning black satin, lined for body as boufant as can be and priced at a tiny . 5 full circle quilted cotton prints . . . 6.46 CORDUROY SLIM JIMS . Fine whale corduroy tailored into ankle length, sleek feminine trousers in shocking pink or black very special at . 3 CAR COATS . 1-The Icelander by White Stag is warm as toast and washable too - the convertible collar-hood adds a gay fashion touch and keeps out the cold - front zipper, inner wristlets and snug nylon quilt lining. Sizes 8-14 subteen - white only... 16.95 2-You'll be snug as a bug in 'this smart water- repellent coat with an attached hood and quilt ed inner' lining - comes in red or "navy. Sizes 7-14... 10.98. Shown are just two of the many car coat styles to be found in our teen shop see them all tomorrow. . . snuggly styles for the young set y 2nd floor ,-
