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.
These are in bright Spring pat
terns that will give your home a
lift.
pair
MEN'S COTTON ARGYLE
SOCKS
Available In regular or high fash
ion colors. Sizes 10 Vi to 12.
Reg. 59c Value
SALE PRICE pr.JF
GIRLS' IMPORT
LAMP SHADES
14" - 15" -16" in Bridge and Table styles. Made of
Fibre Glass and Parchment in a large assortment of
colors.
JANUARY
SALE PRICE
97L
each
BLOUSES
Sizes 7 to 14 In large assortment
of styles. Seven beautiful Sprint
eolors to choose from.
A BIG $00
VALUE I ea.
LADIES' COTTON
DUSTERS
Sizes small, medium and large.
New print designs with Peter Pan
and Mandarin collars.
JANUARY
SALE PRICE
LAMP & SHADE
Boudoir Lamp and Shade. 3 styles to choose from.
A REGULAR 1.98 VALUE
SALE PRICE $1.47
You Save , 51c
SOFA PILLOWS
Rayon Prints and, Solid Colors
JANUARY
SALE PRICE
87'
1
89
each
USE OUR LAYAWAY PLAN
Buy now ert these low prices and pay later) A small
deposit will held your purchase until you're ready to
pick It up. Ask any of our clerks about ill
ROSE
BUSHES
This Is a BIG VALL'E package of
two only No. 2 Rose Bushes In pop
ular varieties.
For Only
$100
Pkg.
STORE HOURS: Daily -9:00 to 5:30 p.m.
LISTEN TO
THE WOOLWORTH HOUR
Every Sunday 1 to 2 P.M. - STATION KYJC
39 NORTH CENTRAL AVENUE
MEDFORD, OREGON