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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