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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (March 11, 1960)
Pig Business Feeling Pinch of redit Faces Two Alternatives KLMER C. WALZER WPI Financial Editor 2fcir York - (L"D - Big busi fet helped little business tkough the period of tight Tmoney by generosity m credit. Now it is feel ing the c r e dit pinch itself and it faces two al t e r n atives -cut back on trade credit to Elmer Walzer customers, or cut down on investment in plant and equipment. Theodore H. Silbert, presi dent of Standard Financial Corp., make these observa tions after a survey of his company of 629 major corp orations in 19 major indus tries. According to Silbert, many smaller concerns owe their survival to the giant manu facturers of the nation. Since 1954, the survey found, these great companies increased their trade credit by $6.2 billion. Allowing for a normal growth of sales, of $2.2 billion, the actual in crease in trade credit amounts to $4 billion, Silbert notes. Trade credit, he explains, is the 10-to-60 day credit extend ed by a supplier to a buyer in connection with the purchase of goods for resale. On the suppliers' books, such trade credit appears as accounts re ceivable. The actual $4 billion credit increase is caused by the lengthening of trade terms during tight money periods, and failure to shorten terms when money loosened up in late 1957 through 1958. As a result, a greater pro- All Men of Good To Come Nearer By RICHARD CARDINAL CUSHING Catholic Archbishop of Boston Written for UPI It seems to be one of our great American customs to dedicate weeks and months to place emphasis on special causes. And people with au thority of any kind are invited to add the supposed weight of their words to the publicity involved. How much of this wisdom survives longer than the page on which it is print ed would make an interesting study. But a Christian bishop hail ing the approach of another Lenten time feels that his message must survive. It is one of his most sacred duties to urge all men of good will I love variety 1&! fitfhijl insist m Vmss (2fc$a to pamper your cat . .Jhey're not jus? flavors (fgto fh real thi,g. iron fi h flPUM'B MEAT CMCKEH BIATY Ml POPPED HSI Will Urged to Almighty God to come nearer to almighty God during the age-old season originated for that very pur pose. In every way he can he must repeat the words of John the Baptist, "Do ye penance," and of Paul of Tarsus, "Now is the acceptable time!" Putting aside for a moment the demands of any special project, may I take this op portunity to plead the cause of prayer and personal super natural housekeeping? It is time indeed to refurbish the soul, to cleanse the heart of evil thoughts, and to extend a willing hand to those around us. On Ash Wednesday every year, millions throughout the world wear on their foreheads the symbolic ashes intended to remind them and those who see them of the fraility of merely human hopes, of the lowly earth which begins and ends each life's journey here below. But thin curious observance, inherited from days when penances . were truly realistic, will only be a badge of f oolishness or hypc risy if affected by men and women whose pride and pre judices are not wholesomely reduced thereby. Words Grow Stale To penance, then, and pray er, must all of us return. For us the hour-glass warns: "It is later than you think." What a world this could be, what a world this can and will be, if each of us recalls in Lent what dust we are and to what dust we shall return. With repetition such words as these grow stale; we must revive their meaning. What better time for this than the Lent of the mysterious "six ties." Perhaps this will be a scientific decade, or a savage one, or both. Why can we not so act as to give these new years of grace a nobler claim tw .remembrance? Is it beyond oiiV hopes, with God ever read assist us to make plne samuy sixties: JC'?il'?hey well may be if each of us, in his own way, accepts this Lent as a proper time to make a start. portion of receivables today runs through the full 30 days allowed, than was the case prior to 1954, Silbert finds. Manufacturers whose net receivables increased the most in the six-year period of the study are non - electrical ma chinery with a $690 million increase; petroleum, $575 mil lion; food and allied products, $500 million; chemicals, $380 million; primary metals, $290 million; fabricated metal pro ducts, $255 million; paper and allied products, $170 million; textile mill products, $160 million; printing and publish ing, $152 million, and stone, clay and glass, $140 million. Manufacturing industr i e s showed declines in net ac counts receivable from 1954 through 1959 are tobacco, ap parel, and furniture. Liquidation Reduced "As more and more smaller customers were granted long er terms, a larger proportion of receivables of the larger companies became non - cur rent and the liquidity of the corporations was stratlingly reduced," Silbert says. "For example, looking at the 629 major manufacturing companies in the study, the proportion of their current assets represented by cash and treasury s e curities declined from 27.4 per cent in 1954 to 21.3 per cent at the end of 1959. Proportion Up "The proportion represent ed by receivables rose from 22.5 per cent to 27 per cent over the same period. While this has been happening im perciptibly year by year, the six-year difference is startl ing ... "The larger companies now are sweating out the effects of a six-year trend of longer trade terms. "Many treasurers of these companies are almost at their wits end trying to figure out how they can continue coping with 1960 business and main tain their plans for invest ment in new plant and equip ment, if these long trade terms and tight money continue." w f r Disarmament Agreement Reached Paris (UP& The West's five disarmament delegates have reached agreement on a "common plan" to present to the Soviet Union at Gen eva, next week, it has been announced. The announcement came came after a long period of haggling during which it ap peared France would not go along with the United States, Britain, Canada and Italy. Western officials were re ported to have all. but given up hope before a "last chance" meeting Thursday. U. S. Disarmament Dele gate Frederick Eaton made the announcement to a meet ing of the Permanent Coun cil of NATO. Medford Tribune MEDFORD, OREGON, FRIDAY, MARCH 11, 1960 Accurate Mapping Of Moon Planned By European Teams CAROLE BREAKS DOWN - Red-haired Carole Tregoff, accompanied by a woman deputy sheriff, holds a hand to her face as she breaks into tears while leaving the Los Angeles court house. The jury deliberating the fate of Dr. R. Bernard Finch and Miss Tregoff remained out for the sixth day Thursday with about 200 spectators waiting im patiently inside the courtroom. (UPI Telephoto) CROCHETING FIREMAN-Manning a fire station watch is one thing, but tending to your knitting (or crocheting) is another. Beaverton, Ore., fireman Cal McGann has cro cheted 14 large bed spreads and five table-cloths while holding down the fort at the Beaverton fire station dur ing the past five years. - (UPI Telephoto) ' J;jj " Yip v(S) . . " . mlwuu- V.-1,..- A w.j. ,-,., M ,-nr-n,.rr- llrr.rlrr r.-rn..r..r - ,., . j Graciousness is the rarest attribute a motor car can possess. Yet, even a cursory inspection of the 1960 Cadillac reveals it in fullest measure. It is instantly visible in the classic symmetry of Cadillac styling. It is epitomized in the warm welcome extended by the richly beautiful and generously spacious interiors. Even performance portrays it in the superlatively smooth ride and quietly authoritative response. Your Cadillac dealer invites you to confirm the value of this unique Cadillac virtue with a sixty-minute ride. VISIT YOUR LOCAL AUTHORIZED SKINNER - BUICK - CADILLAC 143 SOUTH RIVERSIDE - MEDFORD, OREGON DEALER V Nice, France-(Science Serv ice -Two famous European re search centers, the Univers ity of Manchester, England, and the French observatory 9,500 feet high on the Pic du Midi in the French Pyrenees are to play a major role in a program for accurate map ping of the moon. The moon map is being sponsored by the U.S. Air Force, Prof. Zdenek Kopal of the University of Man chester told some 200 scien tists of 20 countries, assem bled here for the First In ternational Space Science Symposium, organi-edby COSPAR, the COmmittee on SPAce Research. Pictures Taken Some 12,000 pictures of movie film have so far been taken of the moon, showing sunrises and sunsets m tne lunar landscape, he reported. However, some 200,000 pic tures are needed to make proper calculations about the height of lunar features such as mountains, peaks and hills with a precision of about 26 feet. Main goal of the program is to produce an accurate map of the moon on the scale one to one million. On photographs taken with the 24-inch telescope at the Pic du Midi Observatory, objects down to a size of 1,500 feet, corresponding to one second of arc, can be dis tinguished. A main problem of the pro gram, Prof. Kopal reported, is that there is yet no proper system of reference in ex istence. All measurements on the moon so far are based on 200 to 300 ill-defined peaks and hills. v Research done by Pi" du University of Manchester has shown that small craters, known as craterlets, should be used as points of reference rather than hills and other mountainous objects. Five Years Goal Prof. Kopal and his asso ciates hope to complete the program within five years. Several additional large in struments will be made avail able by the U.S. Air Force for the enterprise. Prof. Kopal also suggested that because of the non existence of a lunar atmos phere, the moon's surface might become ionized during lunar daytime by ultraviolet solar light. This might cause a charged dust atmosphere, the negatively charged dust slightly drifting above the positively charged lunar sur face. Prof. Kopal indicated that this situation might cause great trouble to any future space traveler landing on the moon. JAPANESE GIFT-June McAllister receives a string of pearle from Sally Cross at the opening of the Japanese Industrial Exposition in Miami, Fla. This is the first world trade aaV held by Japan since pre-World War II days. (UPI Telephoto) Buy Your MAGNAVOX From a FACTORY DIRECT STORE! Largest Selection In Southern Oregon STEREO & TV i 1 1 1 North Central Ave. Liberal Trade-in Allowances No Interest on 3 8 -Day Accounts PURUCKER MUSIC HOUSE Phone SP 3-75M Airliner Travel Safe as Ever, Statistics Show Washington, (Science Serv-ice)-Flying at home or abroad in a scheduled U.S. airliner is about as safe as ever and far safer than driving, sta tistics being compiled here indicate. The Bureau of Safety of the Civil Aeronautics Board is now compiling and an alyzing 1959's crashes, in which 270 persons died from crashes of scheduled U.S. air liners here and abroad. The number of passengers carried is estimated at 52,784,000. Fairly Safe Year . Per passenger mile, 1959 is likely to be a bad year com pared to 1958. But compared with an average of the last decade or more, 1959 may be considered a fairly safe year. Thus 1959 will have a rate of less than one person killed for every 100,000,000 passen ger miles flown. For each 100,000,000 passenger miles driven in automobiles and taxis, there are nearly three deaths. Traced to Explosive In the first two months of 1960, two fatal crashes of scheduled U.S. airliners have caused 75 deaths a higher number than the average in two 1959 months. The first 1960 crash on Jan. 6 near Wilmington, N.C., has been traced back to explosives aboard the plane. The other crash was Jan. 18 near Hol croft, Va. But statisticians say no con clusions can be drawn from figures that cover just two months. Even yearly statis tics, they say, are inadequate for good comparisons. Acci dents, by their nature, are too random. Church Manuals Said Inexcusable' Washington - (UPD - Air Force Secretary Dudley C. Sharp said Thursday that publication of an Air Force training manual linking some U. S. churches to Communism was "inexcusable." The secretary told a House Armed Services subcommit tee, however, that his subse quent withdrawal of the man ual did not mean the Air Force was passing on "the truth or falsity" of the charges it contained. Sharp was summoned by a subcommittee assigned to find out just how the armed forces prepare xtheir manuals, and how certain controversial pas sages have found their way into the publications. Poison Oak? Try a Bottle of ZEMACOL Yea must b satisfied or yout monty chssrfully refunded. Get borrla today at WESTERN THRIFT Just Out! a LP U AUTOMATIC WASMEEX WITH TRUE AUTOMATIC SOAK CYCLE yrtimfWWii';iiTiniiiiwar;" -..J fetODEL made for the FAMILY ON A BUDGET Best for work and play clothes! Best for diapers and baby things, too! It's the treatment all heavily soiled and stained clothing really needs and now it's done for you, automatically! 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