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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (June 12, 1958)
o o o o G 12A MA& TRIBUNE, eri, teym, nuW.y, Jun 12. 1958 WE AOS o fir dL e. fitin New YStft (UPI) 4mri St's shipyard shoulf hum with activity in th nett dec ade vhile.the nation'9 Sub sidized fhip- i ' SJ Pins lines re' 300 to 350 ob solete ships at cost of around $2 bil lion. And the fi timer Walzer nancing of these ventures will bring out a new type of security fed- erally-insurJ ship mortgage bonds. The Grace Line is expected to be the first to offer such bonds publicly for the con struction of two ships the Santa Rosa and the Santa Paula. The Santa Rosa already Is nearing the time for -its first cruise set for June 26. The Santa Paula will be completed later in the year, fcach re placed vessels of similar names in the Grace fleet. A group of big name'invest- CROUCHING OVt CDMT BOL4, Hugh Entrop pilots outboard motorboat to new world's record 0?2i hour on Lake Washington, Seattle. (UP1 Telephoto) otf Ship Mortgage Out by Ventures maintain a regular scheduled service; must agree to the re placement after a service life of 20 years; and must be re placed by vessels built in U.S. yards by U. S. labor, using U. S. materials. Vessels so built are sub sidized to the extent that American costs are higher than foreign. If the operator receiving a subsidy earns more than 10 per cent on his capital, half of this excess must be returned to the gov ernment and the other half deposited in a special reserve fund. The. net result will be a new investment medium mak ing possible a big shipbuild ing program in U. S. ship yards, and providing the na tion with an efficient mer chant marine. Tigard Incorporation Hangs on Singh Vote Tigard, Ore. -(UPI) The attempt by the 100-year-old community of Tigard to incor porate as a city hangs on the balance of a single vote. The vote s S2I to 227 againft incorporation in Tues day's Q0fr, tyrtsenting a vote b$ 10$eP ctnt of the reg dfikreS X canvass was in proartW Wtfintsday and memberf of h Chamber of pmnTt9 Uii. new vote would mnfltd in 30 days if h incorporation move ftilet. Tigard is locateft on Port land's southwest fringe. mtnt banks will underwrite thw new bonds for the Grace Line. It is headed by Merrill Lynch, Pierce, Fenner '& Smith nd includes Paine, Webber, Jackson & Curtiss; Smith, Barney & Co.; White Weld ft Co.; and F. Eberstadt & Co. The bonds will run for around 20 years and will be paid off serially. Insurance rates will be paid by the ship ping line. According to the current issue of investor's reader, published by Merrill Lynch, the yield probably will be considerable below the going 5 per cent. These bonds will have better marketability than privately placed mortgages which also are 100 per cent insured. Unlike Public Housing Authority bonds these will not be tax exempt. And since they are insured by the gov ernment they will not have to be registered with the Securi ties & Exchange Commission. The Grace firm believes the bonds which it will offer with their safety features will be attractive for individuals as well as colleges, pension funds and similar institutional in vestors. The securities are expected to be issued as vessels are completed. Debt securities is sued by the subsidized com panies would be limited to 75 per cent of the operating com pany's net cost of construc tion, with the remainder pro vided by .equity investment. The provisions of the new ruling specify that the ships must be documented under the laws of the U.S.; be manned in general by U. S. citizens; insured with U. S. underwriters; must unless im practical, have all repairs per formed in U. S. yards; must 1 ffllB I i0 jiiff ft 1 ggf 'mm nip 'IF! nnran buHsny m7 mil C folic fC o I iiiiiM r J? It rqair ml M1. There are peopie a 0 Bumble Bee who have been picking the best of the tuna catch for 20 years or more. They're tough judges. How do they do it? They pick tuna with a light, clean color and a bright, fresh look. It must have that fine, fresh, just-out-of-the-sea smell. Gills are examined. Meat is tested for solicSty and firmness. Maybe you can Dick the winners now, a and 6. They have that true Bumble cee quality. The others were good, but not good enough for the Bumble Bee experts, who feel that careful selection of tuna makes uni form fine eating. A( 0regon Pr0luet Columbia River Packers Assn., Inc., Astoria, Ore. PHONE SP 2-7137 222 West Main - NEXT TO COPCO BsssssaaBBassasssssassss: "BEDFORD'S FINEST HEATS SINCE 1940" "CMCP GROUND. BEEF THE VERY FINEST FRESH GROUND BEEF GROUND FRESH SEVERAL TIMES DAILY IN OUR OWN MARKET Lamb 291 fnuniA or Boneless Pork Loin Roast DELICIOUS FLAVOR Pure Pork Sausage Patties 4 lbs. $4 I Fresh Frozen Veal Cube Steaks AD PRICES EFFECTIVE THURSDAY .3:03 P.M. THROUGH SATURDAY TREAT DAD TO A, DELICIOUS STEAK All of our steaks are well aged, tender and juicy. "Dad's Favorite" "Choice" Center Cuts Beef Short Ribs SLICED COLD IQ MEATS (a. IV Jl "LARGE VARIETY" Treat. HTM Royally on yi f . W-H Serve Him. Fancy Large Size We Cut 'Em Up Fresh When You Buy M9f Smoked DftbV aii CHOPS Center Cuts (5)C We Always Feature the Finest and Freshest Produce Available Crisp, Tnder (Bunched Not Cello Pkgs.) for Bunches JUMBO Vine Ripened OanaiaDoiiope IVELVEETA (O) ((h(5(Q&( Loaf 1 rTI HYDROX LARGE PKGS. DAWN FRESH Whole Button EViluslhirooinnis 2-ox. JAR w I Long Green ) i y I zucchini (LC, f Q cl California Naval ((iCt Size 130 (Medium) LJJ ) jj C Large Juicy ( (( ( Sunkist JV ' DOZEN B PURE STRAINED IU1 n n uwmj 5-lb. CARNATION to 1 MILK HJ TINS n j mm CARNATION , Instant Non-Fat DRY MILK 14-Qt. Size CMHCI Clavor Instant Malted Milk 1-Lb. Jar NEW "EASY GLAMUR" RUG CLEANER World's ojit, fattest, afrt cleonar. No rinsing. ..no wiping ...no scrubbing. Easy Glotnur lifts out deep-down dirt. New scientific ingredient, Corobeig germ-proofs os you dean! Just Apply Let Dry i Easy Glamvr with Corobe snakes all alitor cloanors obso leto. Try II today. If s guaran teed. If you or not 100 satisfied well refund your money. seasy utr Smmur n.59 tcenemy sixt mokn tw
