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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Sept. 30, 1958)
Try and -By BENNETT CERF- T DON'T LIKE to rap neighbors," the gentleman told his J-apartment superintendent, "but at four this morning the folks just above me began banging and stamping on the floor." "Did they wake you out of a sound sleep?" asked the super. "Luckily, they did not," admitted the tenant. "It happened I was up prac ticing on my cornet." Political reporter came back to the city desk after interviewing a senatorial candidate. "What did the eld boy have to say?" in quired the editor. "Not a darn thing," grumbled the scribe. The editor nodded and ordered, "Keep it down to a column. Definition of a bore (submitted by Tom Warren of Wichita): "A Texas actor, who went to Princeton, spent four years in the Air Force, and has six grandchildren and his own dark room." O 1358. by Bennett Cert Distributed by King Features Syndicate; In the Day's News By FRANK In a letter to this writer, Mr. Floyd McCabe of Butte Falls disagrees rather sharply with a recent statement in this : column to the effect that Ore gon taxpayers shouldn't object to the use of a modest amount .of Oregon gas tax money for advertising designed to attract tourists to Oregon. He says the state has no business spending gas tax money for any such purpose when roads are so badly needed. - He is obviously a little warm under the collar about . it. for which he can't be blamed. There are many rough roads in Southern Ore gon, and nothing is more an noying in these days than having to travel a bumpy road. I'd like to suggest that the sum of $400,000, which is about what Oregon contem plates spending in the Cen tennial year of 1959 for tour ist advertising, would build only about a mile of modern highway. I can't help thinking that the rather large sums spent by tourists will in the long run stimulate Oregon's economy more than the build ing of an additional mile of road. It could stimulate Oregon's economy to the extent that many, many more miles of modern road Could be built. TOURISM (as the profession als are coming to call it) is a BUSINESS. It's getting to be a pretty BIG business. In Oregon, for example, tourists from outside the state spent a little better than 150 million dollars in the 1958 travel year. That is a sizeable sum. Maybe we take it for granted as long as it keeps on coming. But we'd certainly miss it if it dried up. It seems to me we will be wise if we continue to take reasonable steps to KEEP IT COMING. WHILE WE are on the sub ject, there are two kinds of "tourism" that which tomes from out of the state ind that which goes on WITH- the city's m Captain C E. Recknagel says "Radar 'X-rays' weather up to 150 miles ahead, shows us the smoothest fast course to fly. This means greater comfort, more on-time arrivals for you... service you can count on when you fly United's all-radar fleet." Service to San Francisco, Los Angeles, "all the East" United serves 80 cities coast to coast and Hawaii. CALL SPring 3 YOU GET EXTRA CARE AT Stop Me JENKINS IN the state. Nearly every state in the Union engages to a greater or less extent in the business of attracting tourists Many of the states, in their reports of the money spent by tourists, include in the total money spent by their own residents and traveling around from place to place within the borders of their own commonwealth. Oregon doesn't. The $150,000,000 of tourist income reported by Oregon all comes from the outside. It is new money. It is new money in exactly the same sense as money received from . the sale of Oregon's lumber, or Oregon's crops. While Oregon doesn't report intra-state tourist expendi tures, Carl Jordan, director of the travel information divi sion of the Oregon highway department, . estimates that Oregon people spend another 150 million dollars traveling around within their own state. THAT raises an interesting mipst.inn i What of intra-state tourism? Is it really BUSINESS? CONSIDER it in this light: Suppose the people of northern Oregon spend ten million dollars week-ending or vacationing in Southern Ore gon. They buy gasoline here. They buy food here. They pat ronize hotels and motels here. And so on. The money they spend here is NEW money just the same as money spent by out-of-state tourists. Marin county (in Califor nia) did some investigating a while back and made some interesting " discoveries. Roughly 40 per cent of Mar in's tourist income is pro vided by people from the Los Angeles area. This income from the Los Angeles area is NEW MONEY in Marin county. TT MUST BE remembered, - of course, that intra-state tourist money flows both ways. Expenditures by the people of one area will prob ably be offset by expenditures from other areas. only all-radar airline - 6233 or your travel agont 0 THE REGULAR FARE-ON Stockholders To Fare Well in Corporate Disbursements in 58 By ELMER C. WALZER UPI Financial Editor New York -(UPE- Stockhold ers apparently are going to fare better than Uncle Sam in 1958 in corporate disburse ments. Here's the way it works out using Standard and Poor's figures: Corporation profits before taxes in 1958 will be $35.5 bil- 1 i ittiirct S43.4 billion f in iao. inat nearly $a du lion. C o r p o r- ations' tax li- Elmer Waller ability Will be $17.7 billion against $21.6 billion in 1957. That's a de cline of around $4 billion. Profits after taxes will be around $17.8 billion, against $21.8 billion in 1957. That's a decline of $4 billion. But dividends-the stock holders' share-will be around $12 billion, against $12.4 bil lion, the record, in 1957. That is a decline of only $400 mil lion. , In other words, Uncle Sam's take will be cut $4 billion while stockholders'; take will be down only $400 million. The good uncle takes a slap ten times as hard as the stock holders. And that's of course one of the contributing fac tors to the $12.2 billion def icit for this fiscal year. The Reason The reason for this situa tion is that corporations in 1958 will ' pay out about 67 per cent of their profits in div idends. In 1957 they paid out 57 per cent. The $12 billion in dividends estimated by Standard and .Poor's for this year is the same amount paid out in 1956 and up to then that was a record. Back in 1929 when the pay out was 69 per cent, stock holders received $5.8 billion in dividends out of $8.4. bil lion of net profits after taxes The reason given for the bigger payout expected this year is that there is less pres sure to retain profits to meet financial requirements of bus iness. Plant and equipment expenditures in 1958 are esti mated down about 16 per cent from 1957. Inventories have been re duced on a broad scale, also leading corporations to dis tribute a larger proportion of their earnings than in re cent years. The payout in 1956 was 52 per cent and in 1955, 49 per cent. Bountiful Season . Standard notes that the months immediately ahead represent the most bountiful dividend season of the year. Because of year-end extras December in the past has ac- But all business is a two- way street. Business traffic flows in both directions. In this process, money changes hands. When money changes hands, business is created. While we are all gunning chiefly for the foreign tourist, no community can afford to overlook the possibilities of intra-state travel. UNITED, THE RADAR LINE lUNITEDI M counted for about 20 per cent of the annual total. Standard looks for a con siderable reduction in the number of extra dividends this year. "Being a variable factor," the statistical firm notes, "these payments will reflect this year's drop in corporate profits much more so than regular dividends, although there is reason for believing that the improved business atmosphere will cause some companies to be more liberal Y if.-i Timed to meet high-compression requirements of the new 1959 automobiles, Richfield again leads the way with a superb new premium gasoline. ..OVER 100 OCTANE PLUS BORON! It's NEW RICHFIELD BORON GASOLINE. Here is a premium motor fuel that will out-power, out-perform any gasoline ever offered to Western drivers! This motor fuel offers more than sheer octane power alone. It is still the only premium gasoline in the West containing the high-energy element BORON. It is this combination of 100 BORON. that guarantees you maximum power response from your car with your very first tankful! No matter what make or model car you plan to drive, you'll want to test this new SUPER-OCTANE GASOLINE. Thrill to a new surge of smooth, quiet, then they might have been some months ago." Standard lists many candi dates for dividend increases of year-end extras. The list includes sizeable groups of banks, building equipments, drugs and cosmetics, food pro ducts, retail trade, and utili ties. Several tobaccos are in the groups and a considerable number of oil and railroad companies. The usual procedure is to reinvest the moneys received from dividends at the year Richfied M gH MS NEW 100BORON FIR (S Shipowners Sign With Seafarers San Francisco (CPU West Coast shipowners have signed a three-year contract with the Seafarers International Union, Pacific District, cover ing 18,000 unlicensed West Coast seamen. The contract freezes wages at their present levels for two years, but provides for im provements in fringe benefits such as vacations, seniority and holiday. It calls for a wage review on Sept. 30, t end in the stock market dur ing December, a factor mak ing for the traditional year end rally. Mow Brass YdDOfl The 71 PREMIUM OUT-POWERS... OUT-PERFORMS ALL OTHERS HP 1960. The new contract re places three-year agreements negotiated separately by the Sailors Union of. the Pacific, the Marine Firemen, Oilers and Watertenders and the Marine Cooks and Stewards Union. It will eliminate dis parities formerly found in the three separate contracts. The agreement covers -all shopowners based in West Coast ports except Pacific Far East Lines. It becomes effec tive Wednesday. ' The seal of Chicago con tains a shield, an Indian, a ship, a sheaf of wheat and a babe in a shelL UVJ knock-free power the kind of power only this combf nation of 100 BORON can give your car. Fill up with the NEW RICHFIELD 100 BORON GASOLINE today! For Years-Ahead Performance Nothing Matches Boron It's the natural, high-energy element BORON that makes New Richfield Boron Gasoline different from any other motor fuel in the West Already this atomic element Is being used with spectacular results in fuels for jet planes, missiles and rockets. That's why Richfield Boron is a completely new type, years-ahead motor fuel. New Richfield 100Boron will out-power. ..out-perform any premium motor fuel In your car. Try it today 1 MAIL TRIBUNE, Medford. Ore., ExecutiveTraining Due to an expansion program the John Hancock Mutual Ufa Insurance Company will train two men in the Medford area over a three year period both locally and at our home office in Bos ton. Training will cover all phases of life insurance, pensions, business insurance and employee consultation. . Starting salary $4800 plus bonus. Prefer men between 25 and 45 with sales background and a local resident for at least fivt years. For interview phone SP 2-9133 or write 10 Goldy building. 1 "UJ MM) Tuesday. September 30, 195S I JLl. uv. JV.
