Medford mail tribune. (Medford, Or.) 1909-1989, August 14, 1958, Image 9

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Medford mail tribune., August 14, 1958, Image 9

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Newspaper Page TextTheyll Do It Every Time . By Jimmy Hatlo VASS!E3 NEXT month ? uxELyr WELL. I JUST HOPE VOU'LL 8 CCSO AO 1 H2 SAYS thATS A WEN 4 ON HIS rJOS CONS Since vven ? s;mce she LAUNCHED WM WITH A B??. BOTTLE w . . .-ws W AK5 f-OR C03A t CLA55 3JM. IF HEi I AND ME ? IM CNLV MET C033A I SORRy I ODNT I HE COULOA DEFENDED L LAUNCHED MM WITH r?i MEET SOONER V HIMSELF SETTER. Ii A BEER. SOTTLE-14 'J V ic rr u;aut cvo r . . . . ' i . , 1 rT Vs: My tA l "SirtwiSM ) mM " tt. If Wfl- rTKi rw t yf LooKiKkS TWICE T& SEE WHO IT IS COM ING OUT IN FAVOR OF WEDDED BLISS. -fimnt AHOAHATUJ - V, A'.3j3l'E3L, .r' Inflation Hitting Big Business As Well As Small Pocketbooks Zy ELMER C. WALZER UPI Financial Editor New York H'PD Inflation li hitting big business as well as the pocketbooks of the little people throughout the nation. According to Charles R. S 1 i g h, Jr., executive vice- president of the National As sociation of Manufacturers American business is haunted by ghost profits. And . these hinge on inflation. unost proms, blign says, are proifts which show on the books and are taxed by the government, but which can't be put to the uses normal for profits. He cites the story of what Thompson Products company of Cleveland calls its "mil lion-dollar lathe." Thompson bought a lathe in 1942 at $12,000 and depreci ated It over a period of 14 years. By 1956 it bad laid aside $12,000 of depreciation for a replacement. The old lathe was sold for $1,000 so the firm had $13,000 for the replacement. Haarr Sales Needed But inflation between 1942 and 1956 raised the price of - the same model from $12,000 to $35,000, and Thompson needed an aven more expen sive one a lathe costing $67,000 That $67,000 job meant the firm had to raise $54,000 above the $13,000 it had to re place the old lathe. To do this, Sligh explains, Thomp son had to earn ; a profit of $112,000 before taxes. This represents the profit on sales of $1,250,000 hence the term "million-dollar lathe." Here then were two things working to boost the price of the lathe-inflation for one, and technological progress which involved a more expen sive lathe in-the replacement for the other. Sligh further points out the high cost of business ex pansion and the financing of new jobs. "The cost of providing the facilities to create one new job now averages more than $17,000," he says. "Corporate profits now are running at around 15 billion dollars a year for all com panies.. To finance one mil lion new jobs) would require investment of more than the total corporate profits for an entire year." Industry, he holds, cannot solve the problem by cutting dividends because that would make new financing difficult as well as create hardship for stockholders. Beyond Industry's Control i "The ideal answers to these difficulties," he says, "lie be yond industry's control. Ghost profits will continue while in flation continues. "Inflation will continue so long as federal spending and fiscal policies force inflation Inflation also will con tinue so long as federal law permits unions to exercise monopoly power and hoist wages regularly beyond pro ductivity gains. "Profits will not cover ne cessary expansion for the growing population until Ilk ' J J T t -r "t, -V urn lumKV-3v;l in DR. ARTHUR S. ANDERSON Takes over Camp White duties Assumes Duties At Domiciliary Dr. Arthur S. Anderson, new chief medical officer for the Camp White domiciliary, arrived Monday to assume his new duties, according to Acting Manager Banks I. Paul. Dr. Anderson replaces Dr. Wallace Pianka who recently was transferred to Fargo, N.D. as director of professional ser vices at the Veterans Admin istration center there. He was clinical director, Idaho State hospital at Orofine, Idaho be fore coming to Camp White. Previous to that he was chief of physical medicine and re habilitation at the Veterans Administration hospital i n Roseburg from 1947 to 1957. Dr. Anderson is a graduate of the University of Kansas medical school, Lawrence, Kan. After graduation in 1931, he served as director of the Indian Service hospital at Lawrence, Kan., until 1933. During World War II he served with 'General Still well's Y force in. the China-Burma-India area. ' Laws of 16 of the states, from New Hampshire and New Jersey in the east, to Idaho and Washington in the west, have laws which pro hibit segregation in their schools. 1? P Aurora Borealis PENDETTE 7 By Coro rilliaat Irridtscta Scintillotiag Peadatt Wr thli h.jrt of ic p tng nrv on its sivnavr I X elii loa or glittering jft amidst your fall jtwclt. CHARGE IT 3F they are raised considerably, or until they are taxed less heavily. "Any attempt to raise the margin of profit by raising prices would bring on storms of public protest. But no con certed attempt could be made anyhow in a competitive economy. Nor would anti trust laws permit." He holds that greatly in creased volume of business, then, must come from expan sion of industry and that re quires investment before those profits can be made. Business, he noted, has tended to rely more and more on borrowed money to fi nance necessary expansion. He finds U.S. corporations raising three-fourths of their new capital by debt financing bonds and only one-fourth by new stock issues. He favors stock flotations which spread ownership of indutry more widely among the American people. Personal Income Rises to New High Washington (LTD The gov ernment says Americans' per sonal income rose to an all time : high last month, but part of the increase ironically came from jobless pay benefits. -An official report Wednes day said personal income last month was running at a sea sonally adjusted annual rate ol $358,900,000,000. The former record was $352,100,000,000 in August of last year. Included in the latest rise were jobless benefits which mounted as 20 states granted temporary extensions of pay ments to the long-term un employed. Wages and salaries, a key economic indicator, advanced for the third straight month but still fell short of pre-re-cession marks. Conventional safety pins can now be manufactured at a rate of about 90 per minute in a single machine. ILLINOIS VALLEY Employees Attend Picnic By RUTH RAUSCH Cave Junction The an nual picnic for the personnel of the Illinois Valley farms was held last week on the spacious lawns of the George P. Martin Jr., home. The hosts furnished the ice cream and drinks for the pot luck affair. Those attending include the Harold, George and Bob Mar tin families, the Marvin Cross family, the Dean Mayfield and Ed DeMersseman families with the Rev. and Mrs. Gene Dennjng and family as spe cial guests. Other guests in- Arizona Seeks Million Acre Feet In New Pleading San Francisco (UP! North cutt Ely, chief attorney for California in the Colorado river water suit, accused Ari zona today of taking "dead aim" at states of the upper basin. Ely made this charge out of court after Arizona chang ed its pleading in the six-year-old suit to claim in effect an extra one million acre feet of water a year out of the Colorado's flow. The change in plea came on the eve of California's re buttal case, scheduled to open this morning before Special Master Sion H. Rifkind. He is hearing the suit for the U.SV. Supreme Court. "These amendments would rewrite the Colorado River Compact by excluding tribu tary streams in the lower basin." Ely said. "This is a revision which the Arizona legislature proposed 35 years ago, but which the other states of the basin refused to accept." Upoer Basin Responsibility Mark Wilmer, an Arizona attorney agreed the new pleadings would theoretically m,ake the upper basin respon sible for providing Arizona with the extra water. Charles Reed, chief Arizona counsel, replied to Ely's re marks by saying: "Mr. Ely's concern over the upoer basin is a little difficult for me to appreciate." When Arizona originally filed the suit before the Su preme Court in 1952, it -sought clear title to 2.800,000 acre feet from the Colorado's main stream and roughly another million acre feet from the Gila river. That river flows through Arizona? If granted, that claim would have cut California's use of the Colorado from 5,362,000 acre feet a year to 4,400,000 acre feet. But Arizona insisted Wed nesday it was entitled to its base allotment of 2.800.000 acre feet: another million feet out of the main stream; and nearly all the flow of the Gila. This would amount to rough ly 4,800,000 acre feet. Says Gila Not Included Arizona claimed that the Gila river was never includ ed in the Colorado River Com pact of 1922. Under that com pact, the states sharing in eluded Marie Adams and Harold Martin's guest, Jim my McMillan,, of Jerome Prairie, Martin Lee Lewis, guest f the Mayfields and Mrs. Robert Russell of Lake Arrowhead, mother of Mrs. Denning. Orville and Charlotte Loop er were in the valley over the week end from their new home in Redding, Calif., to visit with friends and family and left young Roger for a two week's visit. Mrs. Guy Dick's sister and brother-in-law, Mr. and Mrs! Floyd White will be house guests of the Guy Dicks for a fortnight. . The Cave Junction Commu nity church missionary so ciety will hold their annual picnic on Wednesday, Aug. 20. The Glen Davis family, left recently for a month's vaca tion through Yellowstone park and South Dakota. In the announcement of the wedding of Miss Donna Lou ise Gray of San Francisco, granddaughter of Mr. and Mrs. David Looper, the groom's name was erroneous ly given as Thomas H. Hoov er. The correct name is Thom as Shaw of San Francisco. Carolyn DeMersseman was a guest of the Carl Weitings at the state line Tuesday. A bridal shower for Miss Ronine Rausch is to be held at the Immanuel Methodist church in Cave Junction Aug ust 20. Hostesses for the affair are Mesdames Gilbert Clayton, Walt Hunting, A. N. Collman, Raymond Heidenreich, Misses Jackie Williams, Carolyn De Mersseman, Judy Collman and Milicent Wray. At the Vernon Larson home this past week were Mr. and Mrs. Ray Amundson and two daughters from Longview, Wash., Mr. and Mrs. Perry Sunderland, sister of Mrs. Larson, from Coquille; and Mr. and Mrs. Donald Allison and son of Klamath Falls. Mrs. Allison is a niece of Mrs. Larson. Mr. and Mrs. Vernon Lar son were in Eugene for a day last week reviewing prospec tive applicants to fill the va cancy on the Illinois Valley High school teaching staff, resulting from the resignation of Don Brown. mm 1- . ifel t . JKmtfjfl 1 Id 5 7 MAIL TRIBUNE, MedrorJ, Ore., Thursday, August 14, 195S t The vast swampy plain known as the tundra, border ing on the Arctic ocean, has been called an Arctic deser. More than 60 per cent of Egypt's land owners derive their entire living from one or less acres of land. THIRSTY Church membership in the United States is reported to be growing twice as fast as the growing population, and 60 per cent of all U. S. adults are no wmembers of a church Colorado river water appor tioned the flow to upper and lower basin states. Special Master Rifkind will hear arguments on Arizona's move to amend its pleading at a later date. If Rifkind rejects the plea, Arizona may take the matter to the Supreme Court for a ruling. In other actions Wednes day, the.U.S. government and New Mexico rested their re buttal cases. California's re buttal was expected to take 10 to 12 trial days. Rifkind hopes to wind up the trial by Labor Day. For Your Old Watch, Any tht ) Agt, Make or Condition MjJ' Jl WHEN YOU PURCHASE A NEW HfS g Pi: ' REG. WfT ) IBw AATrn ri s-x i hrav ill- 5a- -I L'B V 11 i jir,cN nu rKuu wpr &iW) i only M 2yHD Y0U" JiP-n 5 . iMm c pay only .sJmSqs F;3r krMi .vbau i m m .bv a be trr aw if ii m am m n x cv iy zi at ""malum - mr m i at aaiBaMaajBBaBjVjfcafc. .BDShBDDa. avavjtasajk jaaj skiaH m ava a- ft s I a. rTncrr TRIUMPHANT ARRIVAL Enthusiastic crowds wave from edge of pier as the nuclear submarine USS Nautilus docks in Portland, England, at the etfd of her trail-blazing voyage under the Arctic ice-box and the North Pole Every ship in this channel harbor screamed a welcome with sirens, fog-horns, and whistles. EATHER AHEAD! stock up on Coke! es M A MaWms) ttMi SIGN OF GOOD TASTE. . 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You tan do all these jobs end many more! upholstered furniture rugs, draperies, tapestries hats end hat bands gloves, coat collars children's play suits fuzzy toys auto tops, auto upholstery seat covers Venetian blind tapes plastic materials needlepoint (other end canvas AU-FABRIC ii " 1 ITHIS COUPON WORTH $1.19 VZ "Ki This CMlMn im4 for Ow Ouart Cm f MylHt turn FME lot ntular retail aria f $1.1) wtMK yMl purckaM Oi Cam at Instsn Mytk fam mt regular pric. RETAILER: We-U py your resular pric of each quart can of Myatie Foam given an adult cuttomer who hat purchated a can of Instant Mystic Foam at regular price, and ba signed this coupon before expiration date shown below. Invoices proving Mystic Foam purchases to cover coupons presented must be shown upon request and failure to do so may. at our option, void all coupons submitted for redemption for which no proof of products purchased ia shown. Coupons will be picked up by. our broker. M. J. Edwards Co- 2339 S.E. Grand Ave. Portland 14, Or or, you may mail couon. to the broker for redemption. This certifies I have purchased one can of Instant Mystic Foara and have received one quart eaa of Mystic Foam FIUCE. Offer expire SeDtember 30. 1958. (veid unlet signed) Addreiv. . V'' LIMIT ONat TO A FAMILY ' iis sjt sjaj sjaj oaf) tjTa () OBtB tw taS ta fa eW eV Oat OBI W OSJ OH B ffsj aaaj eM (SI af OB taS a eaB fl 122 EAST MAIN STREET PHONE SP 3-5348 Store Hours: 9:30 a.m. to 5:30 p.m. Mondays till 9 p.m. gSI yy "1 'm" p,m Mondays till 9 p.m.