Image provided by: University of Oregon Libraries; Eugene, OR
About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Feb. 10, 1958)
TWELVE MEDFORD (OREGON) MAIL TRIBUNE Monday. February 10. 1938 Government We enices Must Be Continued, Truman Maintains (Continued from Pag One) , diately the benefits of all sci entific improvements to the further advancement of the welfare of our people. In Rus sia such benefits are confined to the improvement of wea pons of war and to a small This means we must con tinue and improve the welfare services undertaken by the Federal government to pro vide for the growth and de velopment of our future. Mili tary measures alone will never solve our basic econom ic needs any more than they alone can deter the commun ist menace. We have been hearing and seeing a great deal of the amazing strides the Russians have made in technical and scientific devel opments and education. This was the result of concentra tion in these areas all for the purpose of producing military might and supremacy. This is all being done at the cost of keeping the standard of living of the Russian people down to a bare minimum. "We should be in a position to meet the Russian challenge as we will but we must also maintain our standard of living while we strengthen our security. Unlike the Rus sians, we seek to apply imme- privileged group of scientists and bureaucrats. Kremlin Expectt Break-Up The Kremlin has always be lieved and still believes that our economy sooner or later will break up. When I was at Potsdam, Stalin turned to me one day and said: "When are you going to have the next depres sion?" I said "NEVER." Stalin retorted "Oh, you will have one, as you go Wall Street Attention Nowon Corporation Stock Ambulance Riders Hurl in Accident Portland ilf) A Nevada couple, en route here by am bulance for treatment of in juries suffered in a previous accident, was shaken up Sun day when the ambulance and a car collided. Mr. and Mrs. Willis Parr of Winnemucca. Nev.. and Nicho- . las Malget, 57, Portland, were injured in the accident. Parr, 52, was shaken up and was taken to Veterans hos pital. He suffered left leg, knee, pelvis and rib injuries in previous accident. Mrs. Parr, 49, was treated for con tusions at St. Vincent hospital. She had a leg in a cast from a previous mishap. Malget suffered head, body and internal injuries. The ambulance was en route here from Burns, Ore. MONEY At Crater Finance you may borrow for any worthwhile purpose on your FURNITURE AUTO SALARY and repay irt monthly in stallments. You may choose the terms most suit able to you up to 24 months. Leant May Be Paid in Advance or in Full at Any Tim Crater Finance CORPORATION 135 Pine St.-Central Point Phone NO 4-1273 Frank Wilkinson, Mgr. Open Saturday 9 a.m. to Noon Monday, 9 a.m. to 7:30 p.m. Tues. thru Fri., 9 am. to 5 p.m. By ELMER C. WALZER United Press Financial Editor New York (If) The Du Pont holding of 63 million shares or 23 per cent of the General Motors outstanding stock has forced Wall Street attention on other corpora tion investments. The DuPont holding of GM has been ordered dissolved and the courts are trying to figure out how the job can best be done. Standard and Poor's has just published a list of companies with other stock interests, some of them amounting to control of other units American Hardware, for example, owns 346,000 shares or 45 per cent of ownership of Savage Arms. Allied Chemical holds 9 per cent of the outstanding shares of Virginia Carolina Chemi cal preferred stock; 6 per cent of Owens-Illinois Glass com mon; and 8 per cent of Am erican Viscose stock in ad dition to 100,000 shares of U. S. Steel. American Metal Climax holds 51 per cent of Rhodes ian Selection Trust and 33 per cent of Roan Antelope Copper. American Smelting has 35 per cent of the General Cable stock and 36 per cent of Re vere Copper as well as other large holdings. Anaconda with 3,450,318 shares, owns 99 per cent of the outstanding stock of An des Copper Mining Co. It also has 99 per cent of the Chile Copper stock and 71 per cent of Anaconda Wire and Cable. Bush Terminal owns 34 per cent of General Cigar shares. Certainteed Products has 68 per cent of the Valspar Corp. shares. Checker Cab has 63 per cent of Parmelee Trans portation. Cuban American Sugar has insured itself some benefits from Beet sugar production by ownership of 25 per cent of the shares of American Crystal Sugar. Cuban Atlan tic Sugar holds 49 per cent of the Central Violeta Sugar j stock. DuPont in addition to its large General Motors holdings has 60 per cent of Remington Arms stock and 82 per cent of DuPont of Canada. Eastern Gas and Fuel has 58 per cent of the Virginian Railway stock. This method is one diversi fication for many firms. It often helps sustain their earn ing power, but it also might get them into trouble with the courts as in the case of Du Pont. Railroads have many div erse holdings of other rail roads. For example, Balti more and Ohio has 43 per cent of Reading company's common stock and more than 40 per cent of the preferred and 32 per cent of Western Maryland common, and big hunks of the roads' preferred stocks. Trailer Permit Law To Be Enforced Salem (IP) W. C. Williams, state highway engineer, indi cated today the State Highway Department will clamp down on trailers moved on Oregon highways whose owners do not obtain permits. He said a number of com plaints have been received in connection with traffic snarls caused by trailer houses towed over mountainous highways in snow and in snow and ice conditions. In one instance, Williams said, a highway department snow plow was held up for three hours because it could not get around a 10-foot trail er house on the highway dur ing a storm. He said trailers more than 35 feet long or eight feet wide can be hauled on Oregon high ways only under state permit. For trailer houses more than 45 feet in length or eight feet in width, special single trip permits must be obtained. Mitchell Said Under Fire For Transfer of Goldy Rocket Pieces Said Salvaged Cape Canaveral, Fla. (IP) The Navy disclosed it has salvaged most of the pieces of its Vanguard rocket that blew up over the Atlantic ocean af ter about one .minute of flight last Wednesday. The Navy started searching the ocean floor with salvage crews ,and found the first stage of the all-starred Van guard Thursday afternoon. Divers have found other piec es since then. Portland (IP) Secretary of Labor James P. Mitchell is under, fire from organized la bor in the Pacific Northwest for ordering the transfer of Dan Goldy, Northwest direc tor of the U.S. labor depart ment's bureau of employment security, to a new area. Earl Hartley, executive sec retary of the 80,000-member Western council of AFL-CIO lumber and sawmill workers unions, said the secretary was "playing politics." "Goldy has been a friend of labor and they in Washing ton, D.C., don't like it. This is a blow at labor," Hartley said. James T. Marr, executive secretary of the AFL-CIO Oregon State Labor council, joined with Hartley to term Goldy's transfer "untimely," in view of the heavy unem ployment situation prevalent in the Northwest now. Goldy, under the Mitchell order, would be transferred to New York from his Seattle headquarters to take charge of employment security for New York, New Jersey and 1 Puerto Rico. Marr said George Brown, Oregon AFL-CIO political di rector, is in Washington, D.C., conferring with Mitchell in an effort to attempt to delay the transfer. Goldy was a frequent visi tor in Medford while area director for the Bureau of Land Management. His office was in Portland. Cowlitz River Smelt Run Thinning Out Kelso, Wash. IIP) A run of smelt, reported thick Satur day, thinned out in the Cow litz river Sunday and the State Patrol said dippers had to work hard to catch their limits. U.S. Said Okay In Wanting Talks London OP) The Soviet Union agrees with the United States on the need for diplo matic talks to prepare for a Summit conference as long as this does not involve a foreign ministers' meeting, Moscow radio said Saturday. A cftmmentator said in a broadcast monitored here that the United States was "cor rect" in wanting advance pre parations for any Summit con ference. "That Is what the Soviet Union believes too." he said. He said the United States appeared to have backed down on its insistence on an iad vance foreign ministers' con ference and to be willing to prepare for Summit talks through normal diplomatic channels. The Soviets oppose a preliminary foreign minis ters' meeting. The United States has insisted on it. along, you always do." I again said "Never." I meant "Never" if we saw to it that we did not allow things to get out of hand. Our economists will have to readjust their standards and thinking to the modern world. They must accept the condi tion that the American econ omy is international in scope in its interdependence and in fluence on the fortunes and destiny of the entire free world. We have learned from experience that a serious set back to the economies out side the United States is bound to affect our own economy. We should leave no opening for Russia to displace us in the extending of economic aid in the Middle East and else where where our security and interdependence are so im portant to the free world. We know how Russia uses eco nomic aid as a wedge to achieve penetration and the subjugation of people. The communist goal is always to dominate. , Our interest, on the other hand, is to help create oppor tunities for world prosperity in which we could share. In order to insure our need for an ever-expanding economy, as well as to help the econo mies of our friends and allies, we must make this program the most immediate and ur gent undertaking of the gov ernment. If we fail to under stand this historic moment and act accordingly, we will have reason to regret it. This is the area in which Russia may cause more trouble in the future to the free world than perhaps she could with all her missiles and cold war propaganda. I find it difficult to under stand why we are not acting with more imaginative meas ures in this field of world eco nomic development. There are vast areas of rich and fertile lands waiting to be used for the benefit of the peoples that possess them that are capable of feeding and sustaining pop ulations in the hundreds of millions. This is another op portunity of helping to re move hunger from many un-. derdeveloped nations. And here at home there are i still many new frontiers to ' be developed to provide fresh i resources for our growing ; economy and population. Let me cite one example: There are great deposits of shale in Colorado and adjoining states containing greater potential for oil and chemicals than any other known source in the world. Activity Abandoned For many years the govern ment has been actively en gaged in working out tech niques and designing ma chinery for the productive use of these resources. But in recent years this activity was abandoned and turned over to private industry which is making slow progress with it. This condition, which should be corrected at the ear liest possible moment, consti tutes another incident of false economy and a failure to grasp the potential needs of our industrial plant. In another area we have taken a backward step in per mitting a slow down in the development of our water re sources and our mining activi ties. This ought not to happen in a dynamic econoVny. And we must encourage a genuinely free economy where prices, wages and prof its are in reasonable balance with each other and kept in proper relationship for the general welfare of the nation and not for any one group. Enormous Capacity Above all, let us not lose our sights on the future in any battle over the budget. Our economy has enormous capac ity to undertake any require ment put against it by any necessary and honest budget. This is a time for action. We must make decisions and PLAZA HOTEL PORTLAND, OREGON Single with Bath $4.00 New Low Family Rate Plan Shoppingly Located Broadway at Washington C. V. Cooley, Mgr. keep on making them. Inevit ably some mistakes will be made, but no greater mistake can be made in a dynamic world than to hesitate. We live in swiftly moving times. It is not enough that we keep up with develop ments. We must manage to outpace those who now chal lenge our freedom and leadership. ICE CREAM AND CHERRIES SNIDER'S DAIRY "Daisytand" mm A Jfc . . -v- "People with picture windows often have heating problems' says Mrs. Joe W. Hocker, 14 Panorama Drive, Yakima. "But we've been pleasantly surprised to find that our Standard Heating Oil bill runs less than $15 a month and we're heating more than 2000-square feet of floor space. We're all for Standard's Housewarmer service, too they're always on the job when needed." Call your Housewarmer today STANDARD HEATING OILS 5 VALLEY FUEL CO. FABER FUEL CO. 26 West Main Phone SP 3-1576 401 South Fir Phone SP 2-4443 STANDARD OIL COMPANY OF CALIFORNIA PERFECT WASHDAY WEATHER, . IF . . YOU HAVE AN ELECTRIC CLOTHES DRYER IN YOUR HOME! 1 ' ' '; i fyw- 1 1 i H n i I A- MA -CT V I NO WEATHER WORRIES when you have an electric clothes dryer. . . you can turn on the sunshine inside your home simply by flicking a switch ! NO LIFTING AND STRETCHING, no heavy wet clothes to carry outside and hang, to be battered by the elements . . , electric clothes dryers 'take the work out of washday ! . CLOTHES LAST LONGER . ... less wear and tear ... no fading . . . and you have fewer clothes to buy (especially for the youngsters) since clothes can be washed and dried the same day 1 LESS IRONING TO DO when you have an electric clothes dryer... towels, play-clothes and knit goods come out wrinkle-free ready to fold and put away ! SAVE TIME, SAVE MONEY, SAVE WORK, SAVE YOUR. SELF WITH AN ELECTRIC CLOTHES DRYER... DO YOUR LAUNDRY ANY TIME (DAY OR NIGHT), IN ANY KIND OF WEATHER. SEE THE LATEST MODELS AT YOUR FAVORITE APPLIANCE DEALER'S TOMORROW! YriNt BETTER X THC CALIFORNIA OREGON POWER COMPANY A Wester Company atoned and operated by Western People (Mi)
