Image provided by: University of Oregon Libraries; Eugene, OR
About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Jan. 22, 1960)
II jf I! V ! I! Mi r; iii;.' Solution to Exporting Problem Devised by Chicago Company By ELMER C. WALZER UPI Financial Editor New York-dTD-The United States anticipates that its balance of payments deficit '0 "s Swill shrink this year from the S4 billion of 1959. One way the trick will be done will be for more companies to take up ex porting goods. EIaer Waller Many have avoided this phase of business because of the difficulties of exchange rates and rules of the game generally. There has been a drive to educate the businessmen into the intricacies of selling goods to foreign nations. One of the biggest problems has been how to get dollars back from countries with blocked currencies. This group has grown smaller but there still are many places where one can get only the going currency for goods. Operation Strictly Legal Wolf Management Engi neering company of Chicago has come up with a solution to that problem and its oper ation is strictly legal and ethical contrary to some methods that have been put forward, Richard P. Miller, director of international eco n o m i c operations for the Wolf or ganization, said that three out of four methods of dealing with soft currency countries result in a net loss. In some instances a firm cannot get any money out of a country. A second predica ment is being forced to take a soft currency that cannot be converted except at a loss. A third involves licensing firms in foreign nations and this, too, is found unprofit able. Predicaments Solved "Enterprising firms can turn these headaches into a source of profit if they under stand the operation of inter national markets and inter national trade regulations," Miller says. "By utilizing a well plan ned series of multilateral trades, it is quite possible to double or triple the original investment." Miller explains that the blocked currencies of a coun try must be converted into local products. Then export of these products is nego tiated to another country. Of ten this process must be re peated several times in what amounts to a barter arrange ment, until finally a shipment of merchandise arrives either in hard currency or in the U. S. itself. Where a manufacturer wished to end his trade in one of the countries in which he could be paid in hard cur rency, he would aim at mak ing the final sale for either the Swiss franc, the West German mark, the English pound or the Canadian dol lar. As Miller explains it, the transaction could start with the export to Tunisia of oil or perhaps machinery. The sale would be made for Tunisian currency at a profit before conversion. This currency would never leave Tunis, however, because it would be used to buy a Tunisian product for which there was a market in other countries. Multilateral Trading This might be Tunisian wine which could be exported to France where it would be con sumed or blended with French wines. Another profit is made on this trade and the money used to buy French cotton. The cotton . then is sent to Japan. From Japan, the U.S. . exporter could take transistor radios which he might send to West Germany. He then could take his money back to the U.S. and it would be a lot more than his first invest ment. There are many other ex amples of their multilateral trading, some of which end up in the U.S., where dollars are readily available for goods imported. Miller says this process doesn't take the time it seems - and even if there is some time consumed, the profits can be large. Basic Factor There are some tricky things to watch for. Don't try to get an export license from a nation for goods for which it already receives hard money. The thing to do is make a market for goods of the particular country which might not otherwise be feas ible. "A basic factor in such multilateral trades, is adjust ing one's thinking to that of other countries in terms of profits, says Miller. "The concept of a decent profit in many foreign coun tries is of a much higher one than U.S. businessmen expect in their normal operations. "To make the best of their investment, U.S. businessmen must adopt foreign standards of what is an ethical return on an investment." American businessmen who have neglected foreign oper ations may well get into the swing of things on this basis. They learn fast, and given a bit of coaching they'd soon learn the tricks of the trade, something they seem to lack just now. And with a push in this direction, the U.S. export fig ure would rise and to the ex tent of the rise our balance of payments deficit would be whittled down. McLEOD Power House Toured By CAROLINE L. HARDING McLeod We know we're late, but your correspondent would still like to extend hol iday greetings to all in the McLeod area. We have just returned from Fresno, Calif., where we visited our son Harry and his family. We also toured Pacific Gas and Elec tee's underground power house, located near Balch, Calif. It is reportedly the only one of its kind in the world. Mr. and Mrs. William Mil ler, Beverly Hills, Calif., spent several weeks at their cabin on Rogue River below Trail. attle to Corvallis, where Jim my is a student at the college. Jimmy Richardson, who has been attending college in Spajn, has now arrived in New York. Mrs. Lee Cushman, North Highland, Calif., has been vis iting relatives in and around Trail. The Vernon Copeland fam ily has gone to Buena Park, Calif., for thes winter. Mrs. Arthur Greenley, who was confined in . the Rogue Valley hospital, is much im proved and able to be at home. The Carl Scott, Eddie Bar low and U. R. Wagler families are all home again after vis iting in California recently. Al Johnson, who had been visiting relatives in New York, has returned to his home here. Mrs. Dorothy Tackstein and Mr. and Mrs. Charlie Moore head were on their way to Sacramento, Calif., to visit relatives recently when their car was hit by a truck at Marysville. The car was bad ly damaged. Mrs. Tackstein's sister, who lives in Sacramen to, came and got her at the scene of the wreck and the Mooreheads went on to Rose ville, Calif. The car was tak en to Sacramento for repairs. Mrs. Tackstein is now back home after visiting relatives in Santa Rosa and Eureka, but the Mooreheads have not returned as yet. No one was seriously hurt in the accident. Mr. and Mrs. Lewis Cleven- burg have returned to their home here after visiting their son Jimmy and family and helping them move from Se- Beating Brings Life in Prison Portland - flJPD - An unem ployed laborer who was con victed of beating his 95 pound wife to death has been sen tenced to life imprisonment in the state penitentiary. Patrick Arthur Edwards, 31, Portland, who pleaded guilty to second degree mur der, was sentenced by Circuit Judge Frank Lonergan. Edwards was originally in dicted on a first degree mur der charge following the death of his wife, Blanche, in their home Oct. 24, 1959. URGE LOAN ACT REPEAL Chicago-OJPD-The board of trustees of the University of Illinois Wednesday urged re peal of the loyalty affidavit required of students receiv ing loans under the National Education Defense Act. How ever the board said Illinois would continue to participate in the federal loan program. About 1,155,000 new homes are expected to be construct ed in the U. S- in 1960 by pri vate builders. Several neighbors surprised Mrs. Ann Gillispie Jan. 14 at her home, the occasion being her birthday. They also cele brated the birthday of Roy Vaughn. T. S. Perry, Lebanon, Ore., father of Rod Perry, suffered severe burns on his face and hands last week while doing electrical wiring. Word has been received here from Brakeville, Texas that Mr. and Mrs. Nate Ed wards are both confined in the hospital there. Mr. Ed wards is a picture producer for John Wayne. They own a cottage on Big Butte creek.' Mr. and Mrs. Dale Chap man are visiting in Sand Point, Idaho as the guests of Mrs. Chapman's parents, the Rev. and Mrs. McHenry. The Rev. Albert Render, who was the first priest at the Church of the Good Shepard at Prospect, suffered a heart attack and is in a hospital in Roseburg. Rev. Render now has a church in Sutherlin. ( ' ' 1 l CROCKERY EXPLODES Edgar Jones holds a crockery shoe that jumped off a shelf and through a window at his home in Baltimore, Md. Since Jan. 14 crockery has been exploding, pictures falling off walls, tables and cabinets overturning and so far no explanation has been found for the oc curences. The family dog has warned them before each thing happened, Jones said. (UPI Telephoto) Medford Selected for Elks Summer Meeting Oregon City - The Oregon Elks association has selected Medford for the site of its summer meeting. More than 1,000 members of the Elks lodge and their wives attended the mid-winter meeting at Oregon City last week. The five-and-half-mile long bridge across upper San Fran cisco Bay from Richmond to San Rafael in California is the longest continuous steel span in the world. STRIKE SAVES LIVES Washington UPD President Eisenhower's Traffic Safety Committee told him Thursday the steel strike helped save motorists' lives by cutting down the use of automobiles. Editor William Randolph Hearst Jr., committee chair man, said the auto death rate was lower during the last half of 1959 when the steel strike was in progress. The Army has developed a camera which requires no light but depends solely on heat radiation from the per son or object being photographed. Gladstone Girl Breaks Leg on Ice Gladstone -ttJPD- Cheryl Hat ton, 11-year-old daughter of Mr. and Mrs. Don Hatton, Gladstone, suffered a broken leg when she slipped on ice while playing at her home here Wednesday. The same leg was broken in an auto accident near Bend last July 31 in which her grandparents, Mr. and Mrs. Albert Servas, were killed. Cheryl was taken to Wil lamette Falls hospital, Maryland Family Puzzled by Objects Suddenly Taking Life Baltimore, Md. - (CPD - The repairman Stanley Green- problem of Edgar Jones and his family isn't "who dunnit" but "what dunnit." The Joneses had a nice, quiet home in a quiet neigh borhood until about a week ago. Then one day a shoe shaped flower pot lifted it self up and kicked out a win dow pane. Other inanimate objects got into the act. Knick-knacks jumped off shelves, pieces of pottery pushed themselves over onto the floor, ash trays took flying trips across the room, and cans of food ex ploded. In Every Room In rapid succession, ash trays, knick-knacks and flow er pots went wild in nearly every room of the six-room house. "We just kept running from one room to the other as things were breaking," Mrs. Jones said. "I tell you, I don't know how much more of this I can take." One explanation, which no body wants to accept, is that a poltergeist has come to stay with the Joneses. Poltergeists are mischiev ous but not ill-natured spirits who delight in knocking things over, throwing things across rooms, knocking on walls from the inside, and generally harassing human beings. Naturally, they're in visible. A number of psychical in vestigators are trying to ex plain away the Jones polter geist. In fact, one of them had just left the house when the poltergeist started acting up again. Said Storm Drain Another investigator, radio i field, suggested that th pol tergeist actually was a big storm drain running behind the Jones home. According to his theory, the pipe acts as MAIL TRIBUNE, Medford, Or. Friday, Jan. 22, 1 960 a big musical instrument, at times hitting notes that cre ate vibrations, causing ob jects in the Jones home to jump, fall, pop and explode. A i LooL.IO Glasses! " , You can't sec them, anyway, rf because this girl is wearing 1SV1SIBLE UNBREAKABLE Dr. Noles CONTACT LENSES This revolutionary new contact lens minimizes the discomfort of old-style con tact lenses! Tiny as a teardrop . . . tissue-thin . . . unbreakable virtually a part of the eye it self, yet never touches your eye. Dr. Stanley E.Anderson of our staff available for consultation FRIDAY and SATURDAY X (Jan. 22 and 23) f '' '' '' Dr. Noles Optometrists Are Oregon Distributors for Vent-Air Laboratories of New York 9tt 5 5 (A. CfCO. COLUMBIAN OPTICAL CO. MEDFORD SHOPPING CENTER Phone SP 2-9990 casual shopping with convenient parking 0ru Omor i. Nel and William T. Hda i There's nothing like a new car' and no new car like a Chevrolet. This is the Impala Sport CoupeJ The Prospect Lions Auxil iary held its monthly business meeting Jan. 13 with a dinner at the Prospect Cafe. Seven teen members and one visitor were present. The meeting was presided over by the president, Caroline Harding, and plans are being made for a party in March to celebrate 10 years of Lions Auxiliary in Prospect. The chairman is Mrs. Grace Larson. Next ex ecutive meeting will be at 8 p.m., Wednesday, Jan. 27 at the home of Mrs. Carleen I Maxwell. Ideal for Children! Her is a bunkbed set that will make a hit with your children. Use as double beds or double decker. Complete with mattress. ONLY $8995 "THE BUILDITORIUM" Phone SP 2-621 1 South Riverside mm . (SO CHEW NOW-THE CAR THAT STARTS THE SIXTIES WITH SO MUCH THAT'S NEW, SO MUCH THAT'S DIFFERENT ...AND SETS THE PACE WITH LOWER PRICES! Chevrolet speaks of the Sixties like no other car with a broad accent on spa ciousness, stirring new concepts in styling and strong emphasis on spirit and thrift. Step inside this superlative '60 and look at the worlds of room around you: head room, hip room, shoulder-squaring room. Note how Chevrolet's engineers have further flattened and narrowed the transmission tunnel to give the middle man more foot room. Chevrolet's greater roominess is inside where you want it not outside in useless body overhang. Under the hood you'll find economy teamed with performance in a new stand ard V8, engineered to deliver up to 10 more miles for every gallon, or the strap ping Hi-Thrift 6, a remarkable gas saver. Still, as savings-minded as this new Chevrolet is, it's hard to find a car that does you prouder at any price. And riding comfort in the new one is a never-ending treat, thanks to Full Coil spring suspension. There are also thicker, newly designed body mounts that filter noise and vibration to the vanishing point, more rigid frame and many other engineering advances. But you'll have to drive the Sixty sizzler yourself that's the clincher. Why not see your Chevrolet dealer now for a drive and the happy details on Chevy's lower prices. See The Dinah Shore Chevy Show in color Sundays, NBC-TV the Pat Boone Chevy Showroom weekly, ABC-TV. Nowfast delivery, favorable deals! See your local authorized Chevrolet dealer. GOUhTES If GHEHBGIEF 9th at BARTLETT MEDFORD SP 2-6115
