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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Aug. 17, 1959)
Growth of Credit Unions Reach About 20,000 in United States By ELMER C. WALZER UPI Financial Editor New York - (UPD - Credit unions, according to Alexand er i Hamilton Institute, are growing at a faster rate than any other financial insti tution in the 8 , 1 K AMI I J. VIZ. "svi These do-it- '"? yourself insti- iu Lions migm be compared to banking timer wabtr somewnat as investment clubs are to the stock market. There's one dif ference. Bankers aren't too fond of them. The stock mar ket loves the investment clubs. Credit unions take business away from banks. Investment clubs bring business. The two groups are thrift Institutions, and each is grow ing rapidly in scope and in the money invested. 11 Million Customers There are some 20,000 cre dit unions in the nation with a membership aggregating 11 million persons. Their assets total $4.4 billion. They have $3.1 billion of loans outstand ing. Membership averages 550 persons. These unions pay 4 per cent interest on deposits and charge one per cent a month on the unpaid balance on loans. A credit union is described as a group of people organized into a sort of bank to save their money together and make loans to each other at low interest rates. Loans in clude those for auto pur chases, home modernization, and the like. The unions are subject to regulations and must main tain reserves. In their forma tion they must obtain char ters. They maintain their own insurance for members mu tual insurance society which has $4.2 billion of insurance in force. The Alexander Hamilton Institute made a study of these unions. It found their history dates back to 1849 when they were first or ganized in Germany. The institute found that a French - Canadian legislative reporter, Alphonse Despardin, became interested in the European experiment and af ter a long period organized the first credit union in North America at Levis, Quebec, in 1900. In 1906, the Quebec Legislature passed the first credit union law in the West ern Hemisphere. Despardins helped to form the first credit union in the U.S. in Manchester, N. H., in 1909. Meantime, Edward A. Fi lene, Boston department store owner and philanthropist, came into contact with credit unions in India. He gave around a million dollars to further the idea in the United States. The United States Federal Credit Union Act was passed in 1934. By that time legisla tive approval of credit unions had been attained in 39 states. -.' Today, the Alexander Ham ilton Institute estimates, the 20,000 credit unions serve better than six per cent of the U.S. population. Of the total number of unions, almost a third have been organized by employees of manufacturing companies, independent of labor affiliations. Government em p 1 o y e e s have organized 19 per cent of the total and another 10 per cent has been formed by em ployees in transportation or utility services. Church groups, teachers and school maintenance employees, labor union locals, and employees of wholesale and retail estab lishments complete the mem bership picture. fed Small Worlds Around Us By Lynn M. Watkins . By Any Name, the Lady-bug Beetle Is Just as Sweet The "Virgin Mary's golden hens" is the rather startling description that 'the people of Sweden give to the lady-bug beetle. Their folklore is rich with complimentary stories of this little spotted bug that has he glassy oval body, with bright yellow, or gold polka- dot decorations. To those people the tiny bugs undoubtedly did look like small hens, as they gath ered in flocks to feed on the plant lice that often swarm on growing plant stems. And lest we begin to think the Swedes are prejudiced in favor of this little insect let us hasten to note the reverent awe in which the people of France also hold him. Here the vast vineyards have been saved many times by the ceaseless activity of the lady- bug. In simple thankfulness the Frenchman has christened Even when it says fash V Wear 1 depend on my SANITONE DRY CLEANER! When I send my wash 'n' wear things to my Sanitone Dry Cleaner I know they will come back looking like new. I'm never so sure of my own efforts. Stubborn spots, perspiration stains, and even embedded dirt particles which cause wear are gone. And Sanitone's Style Set Finish restores the like-new finish to fabrics. It's convenient to call for Sanitone service. I don't have to spend my valuable time or crowd my home with clothes dripping dry. FOR SANITONE DRY CLEANING Phone SP 2-9169 n r-i g . 17 ft 601 E. Main St. H. D. CHRISTENSEN Free Parking Right at the Door! them with their own descrip tive name "cows of the Lord." The Only Protection No French farmer ever for gets that the little beetles are the only protection he has for the control of plant lice; espe cially the aphid that feeds ex clusively on the Juice of the grape. The "cows of the Lord" are grazing contented ly on these living pastures of plant lice, and are holding in check an insect that could de nude the vineyards in a sin gle season. Even American folklore pays tribute to this same little bug, in the simple song, loved by all children: "Lady-bird, lady-bird, fly away home; your house is on fire and your children will burn." Who wrote this catchy little jingle is unknown, out it is pre sumed that it had its 'origin in the so-called cranberry bogs of the eastern states, where in the fall the dead bushes are raked into piles and burneji. Great numbers of lady-bird beetles always fly away from these fires, and probably this suggested the song. The lady-bug is as helpful here as anywhere else. Where ever plants grow, there plant- lice grow and there too will be the little spotted beetles to eat them. A fews years ago the entire citrus crop of Cali fornia was threatened by the cottony scale insect, a little bug that looked like a ragged dirty bit of cotton. It had come from abroad and in a short time citrus trees died in rapid succession. - Lady-bird beetles were turned loose and that ended the cottony scale insect. And that saved the citrus crop. Thousands of Kinds There are about 150 kinds of lady-bugs in the U.S. In the entire world there are probably several thousand kinds, and new ones are be ing found nearly every month. Don't let a dislike for bugs prejudice you into a whole sale killing of all insects; for working within the confines of your own garden are many ladybugs, and they are all on your side. Whether you call them lady-bird, or lady-bug, . or cows of the Lord" or "Virgin Mary's golden hens" makes little difference, they are the same friendly little bugs that hold in check the destructive ahpid. Without the lady-bug's constant vigi'ance the aphid would destroy every, plant and tree in your garden. (Released by The Register and Tribune Syndicate, 1959.) Coast Highway Due For Use by 1961 Coos Bay -(UPD- State High way Engineer W. C. Williams says a 15-mile section of re routed Highway 101 in Curry county, one of the costliest jobs in Oregon road history, should be ready for travel in 1961. This is about a year sooner than expected at first, he said. The $10 million job will straighten out a section from Brookings to Pistol river. A Highway Commission group traveled the length of the route Sunday as part of a four -day tour of western and southern Oregon roads. Today the group was to travel up the Coast highway and then the Lower Columbia River highway to Portland. Theyll Do It Every Time By Jimmy Hatlo Hjteless,twe camp counselor, is a specialist at convincing the kids they're not homesick X WAHtJA GO HOME I DON'T LIKE IT HERE; (SKIFF) I WANNA GO HOME wn.vmi rYWr 6RlDLEy.' YOU'RE TOO BIG A MAN TO GET HOMESICK.' VDU JUST HAVENT ENTERED. INTO THE SPIRIT OF THE CAMP YET-VOU'LL LOVE IT -SMILEi THAT'S IT if WINN The Alaska moose, weigh ing up to 1.400 nounds. is the largest of the deer family. We Give dVl GREEN STAMPS CENTRAL REXALL DRUG Main and Central HELLO , MA YEAH ME- FUTELESS I GOTTA TALK LOW-X DONT WANT THEM TO HEAR ME-THIS PLACE GIVES ME THE WILLIES YEAH -I'M FEO UP WITH IT-COULDN'T YOU CALL THE HEAD 6UY AND TELL HIM POP IS . SICK f THAT YOU NEED ME HOME. ,1 SURE MISS YOU AND FOP AND, HA2E1.-HOWS HAZEL.?, rvv 8-17 1959, Sng yafares Syrnga-te, Inc.. World ric'nta reaeictf . But get a case of himself WHEN HE'S FED UP WITH THE HEALTHFUL LIFE AT WlNNVBONOO Rockefeller 'Might' Run for President Albany, N. Y. (UPD Gov Nelson A. Rockefeller said, to day he "might"- run for presi dent if he could be convinced he could "deal effectively and constructively with problems facing the country." "I would never decide to be a candidate for higher office unless I was convinced these factors were true," Rockefel ler told a news conference. Asked if the availability of other candidates would in fluence his decision, he re plied: - "I think one can't disas sociate any decision from all surrounding factors. I would stress that my own decision be made on a positive basis on -terms of opportunity of service which I feel I might be able to perform under cer tain circumstances." The Sierra Nevada moun tains in California have at least 41 peaks that are more than 10,000 feet high. Fvervwhere! ' iiider's Quality DAIRY FOODS MAIL TRIBUNE, Medford, Or. Monday, August 17, 1959 The U.S. has about five acres of trees for every per son in the country. mm ii i ill n n il .I! 3 A Great New Shopping Adventure Is in Store for You! Watch for it! II w I IMPORTANT SAVINGS IN IVIRY DEPARTMENT. SHOP TIL .9 TONIGHT mm TERRIFIC BUDGET-STRETCHING VALUES FOR YOUR FAMILY, YOUR HOME, YOUR CAR BUY WHAT YOU NEED NOW-PAY LATER-use Wards Liberal Credit Plan SALES Girls' drip-dry plaid school cottons ; : - ; n USUAUY S.9 SIZES 7 TO 14 398 Shirtwaists with enchanting "old-fashioned" look in famous Dan River, Galey & Lord cottons that are machine washable, need little if any ironing. Usually 3.98 dresses 3 to 6X ...... . . .2.98 SALE! Bunk, trundle or twin beds Reg 135.95 (5)88 SAVE $16 NOW "nil! U U 2 Yours complete with 2 mattresses, ladder, guard rail and durable link springs. Compact, ideal foe children's room or cabin with rich Maple finish. All solid hardwood. Easy-to-make beds. n. W - . mm :::::: SAVE! Royal "Dart" portable typewriter KB. TAX INCU CHtiy $5 dew 56 99 Full-size keyboard, louchsel margins Only at Wards can you get a Royal 'portable with big machine features at such a low price. Compare its portability, action and beauty now! SALE! Men's SALE! Men's, SALE! Nylon ivy shirts boys' gym skips stretch tights 2 FOR 5 3 44 PR. 1 88 USUALLY 2.95 REG. 5.98 88 Foulard, paisley, and ivy print cot tons have button down collars, smart long sleeves. S-M-L Nationally 4.95! Tough cotton duck, molded rubber soles, cushioned in soles. 2'2 to big 12. Full fashioned to fit. Quick-drying. Red, black, royal. S (5' 5'3"), M (5'4'-57").L(5'8',over). SALE! Orion4 cardigans , 4 Newsy bulky knit sweaters wash wisely! White, red, brown, black, pastels. 34-40. rg. trademark SALE! Boys' no-iron shirts 2 f3 Usually 1.98 ea. New "conversation" ' prints in wash-and-wear cottons, "mad der" fall tones. 6-1 8. SALE! Boys' No-iron pants 099 Regularly 3.49. Coneset cotton, means true wash and weaf, little or PO ironing. 6 to 18. SALE! Boys' cotton socks 3 pair. 88C Usually 39c pair. Colorful patterns in soft, absorbent cot ton. Reinforced heel,toe-.7tol0,A FREE! to youngsters ... while they last DELICIOUS CANDY WHISTLES AND with the purchase of $2.98 or more for school PLASTIC PENCIL BOX complete with ruler, sharpener and 2 pencils Children must b accompanied by on aduhj 175 In Prizes! Free Drawings for Grade and High School Students. No Purchase Necessary. o $100 and $25 Gift Certificates o $50 Bike, girls or boys Entry blanks are available in all Back-to-School Departments. Be sure, to register soon. You may fill out an entry blank dur ing each visit to Wards. t i 1 TRU-C0LD refrigerator 199 WITH TRADE Full width 60-1 b. freezer chest, full width vegetable crisper, complete door storage. SALE! Vinyl floor surface Nationally adver tised at 98c Won't spot orfade. Tough, durable. 9', 12' seamless widths. Riverside Air Cushion tires 1388 NOW SALE! Fiber glas furnace filters 68' Reg. 89c SALE! Super House Paint Reg. 5.79 6.70-15 tube-type blackwall, plus tax and trade-in tire. 1 5-mo. guarantee. Drive to Wardsnow! Popular 1 -inch sizes. Spun fiberglas re moves dust, cuts fuel bills. 2' sizes also at cut prices. 4al. TesftcT 25 years equal to 7J35 brands. Linseed oil base resists mildew, self-deaning.Colors. SAVE$14!7V2" saw was 64.50 4988 SALE! , Heavy-duty safety clutch motor de velops 2 HP. Cuts 2JU'at90M-year guarantee. . SALE! 50-FT. PLASTIC HOSE Req. 4.95. !4 inch diameter. New, revolutionary ny lon coup lings, long last ing, crush-resistant. 1
