Medford mail tribune. (Medford, Or.) 1909-1989, October 08, 1959, Image 2

Historic Oregon Newspapers

Medford mail tribune., October 08, 1959, Image 2

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Newspaper Page Text9 e 3Z att Bay Ism ..M'C Park Federal Koad (Funds Made AvaiOaDnDe To States Washington - (LTD - The gov ernment announced " today it wo&ld make $2,700,000,000 available to he states under federal .highway programs this fiscal year. It also set maximum amounts it will pay to each state. The Smits, imposed for the first tffine since the federal interstate highway program began in 1956, are intended to keep outlaws from exceeding revenues. Each state may use its fund either for interstate system roads oiPolSier roadj. - The federal government pays 90 per Cent of the cost of the interstate highway sys tem and half the cost of other federal-aid streets- and high ways. - Highway Commissioner El lis L. Armstrong said $1,800, 000,000 would be available to the states in fiscal 1961 tor interstate highway systems and $2 billioa for fiscal 1962. Armstrong said that states desiring to spend more money than . the federal reimburse ment limit must acknowledge in writing that they under stand the federal government will not be able to reimburse them for the additional amount probably until late in fiscal 1963. Until now, the Bureau of Public Works has been able to meet its payment commit ments out of revenues coming into the highway trust fund. This was because highway constructions got started slow ly and spen";ng lan well be low the fund's tax receipts. Surplus Dwindled But recently as construc tion of the ,41,000-mile inter state system speeded up, the revenue surplus in the trust fund dwindled. It is expected to disappear sometime this month. Hence, the government-imposed limits on payouts. By law the trust fund cannot run into the red. Congress increased the fed eral gasoline tax from 3 to 4 cents this year to bolster trust fund revenues. It also author ized the fund to borrow $359 million fro i the Treasury temporarily. The Tiew distribution by states included: Oregon: $12,648,000 regu lar, $30,531,000 superhighway for a total of $43,179,000. Wash ington: $14,043,000 regular, $31,905,000 super highway for a total of $45, 948,000. California: $47,935,000 re gular, $179,030,000 super- MedfordTribune Rogue Valley Edition ' -Page 2 Bonds Move Higher As Stocks Recede New York-fliPD-Bonds mov ed higher in-the various mar kets today while stocks re ceded. U.S. government issues strengthened. The Treasury's new issue of 5 per cent, four year and 10 month notes were quoted at 101 per cent of par. highway for a total of $226, 965,000. ' . If iSiwpi e .. Small Deposit Holds 'til Dec. 24 t v " ? " S'V ' '"flfS" ( I fj ifciMin-iifiT-viiiiiri""itivi "1--'ir'ir"fiT'fii mm mr mt iiliiviinrirmi main . For Comfort - Style and Durability PAVENPORT and CHAIR SET Drop bed daveno, upholstered in a rich, long -wearing frieze in beautiful decorator colors. The daveno is comfort ably built with no sag springs, heavy cotton padding and reinforced with heavy rubberized hair giving the utmost in comfort and long wearing qualities. Large roomy match ing chair. $5.00 Down Reg. 129.95 NOW ONLY 988 Deep Pile ! Oft 24"x36"Rug Soft, pre-shrunk. . viscose. 101 ! uses! Charcoal, beige, red, r aqua, green. Save! 8JC2001 MATTRESS PAD Mattress Pad : 3'3", Reg. 2.75' A'6", Reg. 3.75 ...... 2.98 , i Polyfoam rubber pad protects mattress. Will not creep. . Save on Occasional Tables Each $ VI 0 Down 1095 Set of 3 988 S3.00 Down o Attractive occaonal tables with plastic top which is alcohol proof and heat resistant . . . attractively designed with brass ferrule legs. These tables made in walnut, limed oak, charcoal, or mahog anyoBuy them by the set and save. Maple Dinette Set 0 Round Table 4 Chairs tferdrock Maple Visit Our Complete Maple Room ENGLANDER HOTEL SPECIAL j Box Spring & Mattress 5.00 DOWN 46 or 33 size. Has 220 coils of sleeping comfort. Protected on side walls by auxiliary springs, will always hold its shape. Built for years of rug ged service. Prebuilt border, which will give mattress box type look at all times. Wonderful Value 6-pc. Bedroom Suite 11 T $5 DOWN Includes 6 drawer double dresser with plastic mar-proof, heat resistant top, . easily. cleaned, no waxing. Large crys- ." tal mirror, .46 panel bed with rails and footboard, 2 night stands, match- .; ing chest.-. , t Check Our NEW EASY TERMS! Under 50.00 ..... 50.00 to 200.00 Over 200.00 .. .10 Down . ...5.00 Down . 10.00 Down Thast Prices art God in All Western Auto Company Stem! 25 South Riverside Phone SP 2-6217 OPEN EVERY MONDAY UNTIL 9 P.M. Satisfaction Guaranteed Or Your Money Back The decline in stocks re flected uncertainties in the steel strike. Continental steel was an ex ceptional strong spot. It touch ed a new high on a rise of 5V points in response to a state ment by its chairman that directors likely will 'propose a 2-for-l split. j American Machine & Foun dry rose a. point when stock holders approved a 2-for-l split. A higher dividend help ed Minute Maid. DOW -JONES AVERAGES New York-(CPD-Dow-Jones final slock averages: 30 in dustrials 633.04, off 2.33; 20 railroads 158.38, off 0.96; 15 utilities 87.91, off 0.05, and 65 stocks 211.44, off 0.77. Sales, today, were about 2,510,000 shares compared with 2.380,000 shares Wednesday. Today's prices on selected stocks: Allied Chemical . 114:i Alum Co. Am. , 11Q American Can .. , ; 43 American Motors 62 "i AT&T . 78 k Anaconda Copper Armco Steel Bendix Aviation Bethlehem Steel .'. Boeing Air . Caterpillar Corp- , Chrysler Corp. continental (Jan , 59?i 75 i 684 . 56 3Ui 32 63 '4 48 V. Curtiss Wright . .. 31 Vs Dow Chemical v ; 83 7i Du Pont ..255?i Eastman Kodak, ; 84 ti Firestone ..... 125 ? General Electric '. 78" ' General Foods . 953,i Gentral Motors Georgia Pacific. . Graham Paige Greyhound Gulf Oil Homestake Mining Idaho Power : I. B. M. .... .... Int Paper Johns Manville Kaiser Ind Kennecott Copper Lockheed Aircraft Katy Montana Power Co. Montgomery Ward Nafl Biscuit New York Central Pac Gas t Elec Penney, J. C Penn RR Radio Corporation Richfield Oil Safeway. : sears .... aa 45 23 20 110 .. 43 45 V 412 128 50i . 16 y2 91 27 V - 6?i 24 i soi 52', 31 62 i 106 17 58 72 37 Ti - 49 . 53 40 V 39 Vt, 72 V 46 y 41 k 47 6 71 y2 18 ',4 18 31 V. Trans World Air : 21 Tri-Contmental , 38 Union Carbide .143 Union Pacific '. . 3 Hi United Air Lines ;j .. 44 U. S. Rubber ..... 61 !i U S Steel : 100 Youngs town S & T 134 Shell Oil Socony Mobil Oil southern Co. .. Southern Pacific ..... Standard California Standard Indiana Standard N J. Sun Mines - Texas Co. Texas Gulf Sulfur .. Tex Pac Land. Trust . Transamenca Nan Changes Plea In Extortion Case The case of Rollin Benja min Dexter, 49, of 12 Ross st., Medfprd, orginally scheduled for trial Tuesday in circuit court, awaited action on a pre-sentence report this week. Dexter's trial for extortion was called off after he chang ed his plea to guilty Sept. 23. Dexter had been accused of threatening David Lee Math ias, 27, of 724 Alder st, Med ford, by accusing him of a crime with the intent of gain ing $500 from him, court rec ords show. Dexter's attorney is Bruce Manley, Medford. California Man Is Held for Larceny Lloyd Eugene Gannon, 38, of Los Angeles, Calif., was held in the city jail yesterday on charges of larceny from an auto. ' He was arrested by Med ford police shortly after Lewis Cliften Mitchell, Klamath Falls, reported the theft of a 3 -06 caliber rifle from the front seat of his car on Canon st. between Ninth and 10th sts. Wednesday night. Loss of Taxable Property Seen In Development Eugene -UPD- Opposition to the proposed National Sea shore park near Florence was voiced here Wednesday after noon by representatives of the Western Lane County Taxpay ers Association. .: Jack Hayes, chairman of the group, said a national park in . the coastal area would mean the loss of taxable prop erty and result in the increase of 12V& per cent for those properties not affected. The group spoke at a hear ing conducted by Sen. Rich ard L. Neuberger for the Sen ate Subcommittee on Interior and Insular Affairs. . ., Hayes said the proposed park - was unnecessary be- j cause of present ownership of the beaches by the state. i John Parker, another rep resentative of the group, said that free access to the coastal lakes is now available, and ac cess would not be free under a national park service. Economy Hurt Feared Donald Bowman said the park would hurt the economy of the area by eliminating a substantial industry. It would also eliminate some 45 busi ness firms, including motels, hotels and novelty shops and cause a loss of 140 jobs, he said. - Mrs. Jack Stark Evans, rep resenting the home owners in the area, said that people had been promised they could keep their, homes. She added, however, that they would al ways live under the threat of a forced sale. She said that many of the homes were not just summer cottages, but were . homes in which some persons intended to retire and many were up to $100,000 in value. Bill Supported Speaking in support of the bill was John Osoward, presi dent of Olympic Associates of Seattle, a recreational or ganization. He said he was alarmed to see subdivision signs in the proposed seashore area. He said "it is time to do some good planning for the present and the future." It is time to save the Sand Dunes , area from the bull dozers, the earthmovers and the land speculators, he added. , Glaucoma is a disease of the eyes that frequently causes blindness. Annual Light Bulb Sale Set by Club .' The annual light bulb sale by Crater Lions club will be held the evenings of Oct. 13 and 14. - Proceeds will go toward community service projects, as in the past, club officers stated, and a goal of $400 $600 is sought to carry out the club's Sight and Blind programs. Sylvania corporation has furnished the bulbs at near cost for the sale. Free printed bags also were donated by the corporation. Commercial firms or others who wish to make pre-sale purchases may contact any Crater Lions member or call the project chairman, Die Walsh, SPring 3-5846. Graham to Attend Board Meeting Pat Graham, member of Medford barracks of Oregon Veterans of World War I, will attend a conference of the ad visory board of the Depart ment of Oregon Sunday, Oct. 11, in Eugene. He will preside as chairman of the publicity and publications committee Saturday, Oct. 10 when meet ings of department commit tees are scheduled. A banquet is set for Satur day night at the Veterans Me morial building, when nation al officers will report on the national convention. A conference of district commanders will be held Sun day morning. ; . Park FREE While Shopping Here! Store Hours: 9:30 A.M. to 5:30 P.rW4 OPEN MONDAYS UNTIL 9 P.M. Use Weisfield's Simplified Credit! Hi Power Binoculars Hard Coated Optics 7x35 .19.88 8x30. .18.88. 7x50........23.88 With Carrying Case As Low as 50c per Week J J Hi iM 7 fsr "Mobilheat" The Oil to Burn ESTABLISHED 1856 Nj ESTAi m GREEN STAMPS. MEDFORD FUEL CO. Tel. SP 2-2111 5 I rs tJt M m .... f'MhrMA kk 1 iAKKV d "t7 the srrusj u U inch SPORTABLE IEAUTIFUL SLEEK VERI-THIN STYLING Fctr fcl4 . . . lightweight TiMfMiMr-pwr4 clMicte Frat taahif d sawrf AatMMtie cImmmI MMlinr uui ja.i k.iu.i. Hwn TEA To PAT - o 17-hcfc raW Ctvtrall lf)) ISi sqMr iKlwt f viewable picture S J 95 3 YEAR T PAY Csl miTT nvrrtr X -.in. ...... ....,..' ntm kuuueu w-jtncL WRIST VATCII ? , 16" . 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