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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Jan. 23, 1957)
EIX MEDFORD (OREGON) MAIL TRIBUNE ATtdneiday, January 23. 1957 Digest of Major Points in Eisenhower's Economic Report To Congress Confidence Seen That Prosperity Will Be Extended Washington (U.B Here Is a digest of major points in Presi dent Eisenhower's annual eco nomic report to Congress today: Outlook for 1957 "There are grounds for con fidence that the nation's overall prosperity will be extended iito the months ahead." But inflation is a growing threat. Industrial prices rose 8 per cent last year, consumer prices 2.7 per cent. Wage boosts outran the in crease in labor's productivity. Interest rates have risen snarly in a tight money market. To curb these inflationary trends and maintain economic health will require "responsible" joint ef forts by government, business and labor. Government's Role Congress should keep taxes where they are and hold the line on federal spending at the level fixed in his fiscal 1958 budget. It also should move to "strength en competition" by tighter anti trust laws, aid to small business and other legislation. Business and Labor Business has the responsibility to "remove restrictions on com petition," to protect the public against unnecessary price in creases, and to avoid "excesses" in plant expansion and use of credit. Both management and labor "have the responsibility to reach agreements on wages and other labor benefits that are fair to the rest of the community as well as to those persons immediately in volved." Wage increases negoti ated in 1957 "should be consist ent" with actual increases in productivity or they will be in flationary. The Economy in 1958 National output hit a record high of $412 billion, an increase of $21.5 billion over 1955. This occurred despite a slump in auto mobile production and housing construction. Employment rose 1.8 million. Wages during the last quarter of the year aver aged about 6 per cent higher than In the last three months of 1955. Corporation profits were "slight ly larger" than 1955. Farm in come "improved." "High raw material prices and advancing labor costs," especial ly after the summer steel strike settlement, brought industrial price increases "on a broad front." They averaged 8 per cent for the year. Wholesale prices climbed 4 per cent. All major categories of consumer prices rose for the first time since 1952. Tight Money Heavy demands for credit have forced interest rates up "sharply." Mortgage debts rose shout $15 billion, bank loans $8 billion. Homebuilders and buy ers had a hard time getting loans, especially on government guaranteed mortgages where in terest rates were pegged below the going market. "New and smaller business firms" were especially pinched on loans. These facts demonstrate that the government can't rely wholly on credit .brakes and other "fiscal restraints" to halt infla tion. The consequences are too rough on some segments of the economy. Four Years of Prosperity Since the start of his first ad ministration in 1953, the nation has experienced "remarkable" economic growth. Allowing for changes in dollar value, the average person's income has risen 10 per cent after taxes. Five million homes have been built, nearly 25 million auto mobiles sold. Legislative Recommendations The President repeated all of his major legislative proposals from his earlier state of the union and budget messages In some cases, he added new de tails or hinted at specific recom mendations to be made later. He disclosed, for example, that Agriculture Secretary Ezra T Benson is "investigating possible revisions in the parity formula" used to calculate farm price sup ports. The present formula, the President said, is "clearly out of line by any economic stand ard." He also promised to send Con gress soon the results of a Fed eral Reserve Board study on the need for standby powers to con trol installment credit. He said the study would be "a useful guide" to possible legislation. Spelling out a previous pro posal to extend unemployment insurance coverage, he said Con gress should bring under it an estimated 1.8 million employese of now-exempt firms with fewer than four employees on their payrolls, and also extend indi vidual states to raise their un employment pay standards so that covered workers would get at least half their regular earn ings for a period of 25 weeks of joblessness. Population Growth The rapid growth in the U.S. population will have "profound effect" on the nation's economy and raise many new problems 1 . it- f r'rir i mftiiitfrit 11 PLEDGES PURSUIT OF PEACE President Eisenhower delivers Inaugural address in the Capitol Plaza in Wash ington after taking his second term oath of office. The chief executive pledged his administration to energetic pursuit of peace and said he believed the United States could be a major, contributory force to healing the divisions of the modern world. Seated at right is Vice President Richard Nixon. Hungary Watching ! Block Tickets Sold West's Diplomats Vienna (U.P.) Secret police of the Soviet-backed Janos Kadar regime keep close surveillance on Western diplomats in Hun gary, refugees said today. They said members of the Western missions are constantly shadowed by Red agents in the return to the police-state meth ods of the Stalinist era. The refugees said that the Western legations have been vir tually placed out of bounds for Hungarian civilians. Hungarians who visit the legations are seized and questioned. According to the refugees, po lice warn civilians 'that it is an offense against the state to visit a Western diplomatic mission. Under the martial law imposed on Hungary by the puppet re gime, an offense against the state is punishable by death. Reports reaching Vienna indi cated the Communists are stead ily intensifying the police-state terror campaign. Virtually all of the gains made in the October freedom-from - Moscow uprising have been wiped out. Big Counterfeiting Ring Investigated in Florida Miami (U.R) U. S. Secret Service agents today investigat ed a possible large scale coun terfeiting ring. About two dozen bogus $20 bills have turned up in suburban banks. The bills were passed mostly in nightclubs, bars and a few supermarkets, agents said. For SO Festival ' Ashland First major block bookings of tickets for tht 1957 season of plays were received this week by the Oregon Shakespearean Festival associa tion, according to Bill Patton, general manager. Howard Hagge, Sacramento, Calif., placed the largest order Tuesday purchasing 172 seats. Hagge and his party will attend all five performances. The clergy of the Episcopal Missionary District of Eastern Oregon placed an order for 60 seats for the Aug. 5 perform ance of "As You Like It." This will be the third year the party of clergy has attended the Shakespearean plays. Patton said orders for the 1957 season started coming in ear lier this year than at any time in the festival's 22-year history. Many reservations were made a year in advance by patrons at tending the plays last summer. Orders are already on file from many patrons throughout the western states, Canada and the Hawaiian islands, Patton said. Ice and Snow Make Driving Hazardous For Oregon Autoists about schools, jobs and homes. By 1960. the total, population will approach 180 million, and by 1975 reach 228 million. What this will mean is indi cated by one statistic: The num ber of 18-year-olds looking for jobs or college openings in the mid-1970s will be nearly double the 1956 crop. Oregonian Writer Gets Cowling Award Portland U.R) The Cowling Memorial award was presented by the Portland local of the American Newspaper Guild last night to Ted Waggoner, home and garden editor of the Ore gonian The annual award is made in memory of the late Owen S. (Pop) Cowling, long time guild officer, to the member of the lo cal who during the year best- ex emplifies the "devotion to the aims and ideals of the ANG . . ." Bob Swan of the Oregonian was installed as new local president. By UNITED PRESS Ice and snow made the going hazardous for motorists in many sections of northern Oregon to day and it was so bad in Port land that thousands were late to work. It was snowing hard at Pen dleton with nine inches reported since 6:30 p.m. yesterday. The weather man there " predicted another three inches by noon. Snow melted in Portland yes terday afternoon, then the streets became covered with ice when it froze late last night. Added to this was a light cover ing of snow this morning which partly hid the ice. Many motor ists were caught without chains. Traffic Tangled The result was a rush-hour angle of traffic. Southwest Bar bur boulevard south of Rasmus sen Village saw cars backed up for miles. Every street in the city was slick. Police reported only minor traffic accidents but there were scores of close calls. The weather bureau said a new surge of cold air would drop temperatures from 5 to 10 de grees over northern Oregon by to morrow. Only occasional snow was forecast, but the Co lumbia gorge was promised in creased east winds. Chains Needed Highway department offi cials said snow and ice made chains a necessity for travel at Timberline, Government Camp, Warm Springs junction, Santiam pass and Pendleton. Motorists were advised to carry chains at Portland, Wilson River summit, Sunset summit. Cascade Locks, Troutdale, De troit, The Dalles, Meacham, La Grande and Austin. Hard snowing dumped 11 inches at Timberline, eight inches at Government camp, six inches at Warm Springs junc tion, one inch at Portland, three inches at Sunset summit; four inches at The Dalles, six inches at Santiam pass, nine inches at Pendleton and two inches at La Grande. Spots of ice were reported on highways at Astoria, Salmon river, Siskiyou, Sisters and Brothers. Rolarian Activities Discussed at Meeting Mark Goldy, Medford real estate man, discussed a project providing gifts and entertain ment for patients in a leper colony at a Rotary club meet ing Tuesday. He also said four Rotary clubs of Hong Kong operate a camp for under-privileged children on an island in the Silver Mine Bay. Kansas City Rotatarians do nated and equipped a 40-acre timberland site as a summer playground for youngsters, he added. Goldy said he obtained his In formation from an article in the Rotarian, official publication of R3tary. Walter Higgins, maga zine chairman of the club, in troduced him. Civil Service Exams Announced This Week The civil service commission has announced examinations for inspector of locomotives and storekeeping clerk. Applications should not be filed later than March 21. Additional information and applications can be obtained from Chester W. Silliman, at the Medford post office. Former Convict . Wins Car on TV New York (U.R) A convicted murderer received a 1957 Cad illac convertible Tuesday night on a television quiz show, in stead of an $8,000 prize he ten tatively won last week. John Resko, 45, of the Bronx, N. Y., who was paroled from prison in 1949, answered the $8,000 question Tuesday of last week on "The $64,000 Question" show. Part of his answer did not agree with the one prepared by the program, however. The judges checked his answer dur ing the week and ruled it incor rect. He was awarded the pro gram's consolation prize. Resko was sentenced to death when he was 19 for a holdup slaying and reprieved three times. While in jail he educated himself in law and the arts. Since then he has become a writer and an artist. His book "Reprieve" was published last month. He chose "antiques" for his category and was asked to name the manufacturers of four hall marks of ceramics. He identified one as Limoges. The correct an swer was Sevres. School Enrollments Mount 10 Per Cent Portland U.R) Enrollments at state supported colleges and the university have increased 10 per cent over those for the win ter term a year ago, according to Chancellor John R. Richards. The Chancellor said the en rollment increase was expected and was normal. He reported to the State Board of Higher Edu cation here that increases ranged from five per cent at Eastern Oregon college at La Grande to 12 per cent at Portland State col lege. Winter term enrollments normally show'a decrease. BLIGHT KNIVES Bergman's SHOP 3012 Crater Lake Highway PHONE 2-6771 For Action, Use Tribune Want Ads Need A Loan? For Medical Expenses? To Help Meet A Crisis? LET US HELP YOU! . Loans To SI ,500 SALARY AUTO FURNITURE Crater Finance CORPORATION 135 Pine Street Phone NO-4-1273 CENTRAL POINT, OREGON Frank Wilkinson, Mgr. No Parking Problems Neuberger, Morse Offer Veterans Bills Washington, D.C. Two mea sures pertaining to veterans af fairs were introduced into the U.S. congress last week by Ore gon's senators. Sen. Richard L. Neuberger in troduced a measure to provide for the extension of the "GI bill of rights" for as long as compulsory military service is required of young men. It was the same bill he introduced into the last session of congress, on which no action was taken. The bill would provide edu- j cational benefits for veterans of military service commensurate j with the amount of time spent j in the service, and would be retroactive to the expiration of the earlier GI bill. Sen. Wayne L. Morse intro duced a resolution which, if adopted by the senate, would create a standing senate com mittee on veterans affairs which the senate has not had previous ly. Veterans legislation has usu ally been referred for consider- ; ation to the labor and public welfare committee. i LIGHTNING KILLS FOUR La Paz, Bolivia (U.R) Four teen-agers were killed and nine others were injured Tuesday when lightning, struck a field where they were playing soccer, authorities reported today. Read and Use Classified Ads The Low Cost Way To Sell For Quick Cash NO DUST BAG TO IMPTY ' HP , . n c ale i i i nErr-jCii w m Get a Powerful Brand New ifL'l mm mmJ VS. Extra Charaal Roto-Matic Model 805 with Zip-Clip Swivel Top $79.95 VALUE for t n W oo Easy Budget Terms See live demonstration at .' Our Store at Once, or PHONE 2-4998 FOR FREE HOME DEMONSTRATION! 1109 NORTH RIVERSIDE rColecf the Skviiff DUNGAREES BOYS' Made of 9 oz. Sanforized Denim with zip per fly front. Sizes 8-10-12. Reg. 1.49 Value $27 SALE PRICE I fell PLASTIC DRAPES Just arrived New plastic drapes. 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