SUNDAY. JUNE 12. I960
8
MEDFOHD MAIL TRIBUNE. MEDFORD, ORE.
They'll Do It Every Time
By Jimmy Hatlo
Real estate salesman jack sells a
SHACK AND MAKES $50 ON THE DEAL'
SZOO-YEAH'
OK Ay-1 CAH
USE AN OLD
r FISHING
K SHACK
Salesman mack Also makes a deala
gravel pit on which his end is $6q..
1 I
1 "Si si I A
I ai ni v . ''aavt uAUTcn m nuu t? j'- -"Vt i
SO THEM CHoSe PvACA-nON GLAD TO HEAR IT-PAL I JUST
JACK AND MACK ( ACREAGE"-MADE A J f LTR J
MEET ON THE V NICE $ 2,000 f .fSSsh atit..' il
STREET"-NOW COMMISSION- J V mAdILvlCo?'
LISTEN TO A x ,- yMADE MYSELF $3,0OO
Construction Seen
To Hit New High
Elmer Waller
By ELMER C. WALZER
UPI Financial Editor
New York - (UPD - All con
struction during the current
year is expected to run to ?89
billion, a rec-
cord high. Of
that amount
new construc
tion is placed
at $54 billion
and moderni
sation and re
pair at $15
billion.
The housing
starts, how
ever, are expected to fall be
low the revised figure of 1.5
million of 1959. This year's
starts are estimated at 1.2
million and that's about the
same rale they have been
running recently.
A pickup In housing, how
ever, is looked for in the sum
mer months with mortgage
money expected to ease some
what and become more plenti
ful. Housing is considered high
ly important in the economy
and any increase is expected
to boost morale in the build
ing industry and give other
lines a big lift.
Homebuilding Low
Homebuilding in the first
four months of 1900 has been
down about 21 per cent from
a year ago. The year's low
was registered in February
and currently a gain is report
ed in progress.
While the warm weather Is
expected to boost housing
starts, the experts warn that
there is no boom in the mak
ing in that segment of the
industry.
Value of all construction
put in place in the first four
months of this yea- is running
3 per cent under last year.
Plant and equipment ex
penditures are expected to
rise 14 per cent over 1959
to a record high to help lift
the overall outlays for build
ing which are expected to
show a 3 to 5 per cent rise
over 1959.
Value of new construction
put in place in May rose 10
per cent over April to a total
of $4.5 billion. For the first
five months of the year, new
building amounted to $19.6
billon, a decline of 2 per cent
from the $20.1 billion figure
of 1059.
All Ships Berthed
For Rose Festival
Portland (DPIi-Portland Rose
Festival activities were in full
swing today with Queen Jean
Ann I reigning over the Jun
ior Rose Festival parade se
for 2 p.m. I
The last seven ships of the
festival fleet of 20 tied up at
the seawall Thursday after-)
noon with the arrival of
five Japanese and two Catia- j
dian destroyers to supple
ment American vessels al
ready present. j
Porllandors got the carni
val spirit at the unusual sight
of three fleets to the wind.
Private construction in the
first five months dipped 1
per cent from a year ago.
Public construction was down
11 per cent.
Construction, which makes
up more than 10 per cent of
the gross national product,
is regarded among the prin
cipal industries of the nation.
In ordinary times the pros
pects of a recovery without
an assist from construction
is considered out of line and
on the impossible side.
Economisli Optimistic
Economists, recently noting
the strength in the general
economy ' while such major
lines as housing and steel
were sinking, hold that the
current business picture gives
promise of doing much better
than had been anticipated by
many experts.
The high level of industry
is seen as reflecting resiliency
in the general business pic
ture. We've been able to make
up in other lines what is be
ing lost in some of the major
ones.
Back in the early postwar
years the business analysts
called our current situation
a rolling adjustment. They
held this meant the economy
generally was inherently
strong and that whilo one in
dustry was slipping another
could pick up to offset its
effects.
While the name isn't being
used Wall Street is convinced
we are in a typical rolling
adjustment and holds that it
can work out to the general
benefit of the economy.
Additional housing at this
time, it is fell, would work
wonders in stimulating the
general economy. Such situa
tion would be felt in many
industries - steel, building
materials, house furnishings,
nnd myriad others.
Climbing Fast
According to Prentice-Hall,
business spending on machin
ery and equipment will be '
the fastest climbing gross na- i
tional product segment this
year. Such purchases. P-H
says, will zoom by 17 per
cent above the corresponding
period of 1959.
International Statistics Bu
reau says war mweather is
expected to bring with it a
pickup In the over-all con
struction picture. Highway
construction should gain and
those areas of the country
where building has lagged,
should show an Increase.
A step-up in construction
should prove an aid to the
steel industry, it is noted,
Also It could well litt the car-
loadings total and bring in
vast amounts of buying
many related lines.
Hatfield Expects
No Tax Increases
Portland -(UPD- Gov. Mark
Hatfield said Thursday that
no increase in taxes is expect
ed in the 1961-63 biennial bud
get. Speaking to an annual meet
ing of the Associated Oregon
Industries, Hatfield said rapid
improvement in the business
climate in Oregon has made
revenues exceed "the esti
mates that were reasonable
14 months ago."
The governor suggested
that administrative economies
had helped pare expenses. He
added that the next budget
would be financed in part by
a carryover of "unexpected
funds."
Funds for Bomarc
Bases Approved
Washington-llPII-The Senate
Appropriations committee to
day approved funds to restore
the administration's scaled
down program for the Bomarc
anti-aircraft missile and fi
nance completion of Bomarc
bases in Oregon and Washington.
The Northwest bases are
located at Camp Adair near
Corvallis in Oregon and at
Paine AFB near Everett,
Wash.
The funds were contained
in the committee's approval
of a 40 billion dollar defense
money bill.
Medford Can Expect Boost in
Per Capita State Tax Revenues
The city of Medford, along
with most other Oregon cities,
may be able to expect a boost
in per capita state gas and
liquor tax revenues during
the 1960-61 fiscal year.
According to figures re
ceived from the League of
Oregon cities, the estimated
per capita allocation for gas
tax revenue has been revised
upward from $6.85 per person
to $7.29 per person. Liquor
tax revenues have similiarly
been revised upward ' from
$1.95 to $2.10 per person.
The state refunds a certain
percentage of its gas tax and
liquor tax revenues to in
corporated cities in Oregon
each year. It distributes these
revenues on the basis of pop
ulation so that more people
a city has the larger the tax
refund it will get from the
state.
Reason For Revision
The reason for the revised
estimates, according to the
League, is that the federal
census will show the popula
tion residing within incor
porated cities in Oregon to
be much less than the state
census board's own estimates.
State population estimates
have been the basis for dis
tribution of tax refunds.
The reduced population fig
ures will be widespread
among most Oregon cities.
Total reduction from state
estimates in all Oregon cities
of 10,000 population or more
will be about 58,000, the
League notes.
Had the federal census fal
len below state population
estimates in only a few Ore
gon cities, it would have had
the effect of reducing those
city's total allocation of state
tax refunds.
Most Cities Decrease
However, as most Oregon
cities showed a decrease over
earlier estimates, the effect
will merely be to increase the
per capita allocation for all
cities and the total for each
will remain about the same.
Medford will probably be
more fortunate than most
cities because it preliminary
census enumerated popula
tion is only about 2,000 below
the state's estimate. Where
as such cities as Klamath
Falls and Portland, are consid
erbly more below state esti
mates. In the city's proposed 1960
61 budget the city administra
tion has estimated state liquor
tax revenue to be $48,655,
compared to the current year's
$55,831 and the gas tax rev
enue to be $180,155 compar
ed to the current year's $172,
018. However these figures
were based on the League's
former per capita refund esti
mates of $1.95 and $6.85 re
spectively. Based on Figure
These estimates were also
based on a 26,300 population
figure rather than the prelim
inary census' population fig
ure of 24,300. Administrative
Assistant Gil Gutjahr said this
was done because the city
knew that most Oregon cities
had overestimated their pop
ulation so the relation of Med
ford's population to other
cities would be about the
same.
Gutjahr notes that if the
League's estimates are right
the city will undoubtedly
pick up additional tax refund
money from the state. How
ever, he points out that the
city always estimates state
tax refunds conservatively
because there is no way of
telling just how much the
city will receive until after
the fiscal year is over. It is
better to be underestimated
than overestimated in a city
budget, he added.
Liquor Tax Revenues
State liquor tax revenues,
when received, are placed in
the city's general fund and
indirectly help pay for the
police department. Gutjahr
notes this is done because the
sale of liquor results in law
enforcement problems for
cities, therefore part of the
liquor tax is given to the
cities to help defray this cost.
He pointed out that the
League of Oregon Cities is
asking the state legislature to
increase its liquor tax refund
to cities because the cost of
law enforcement generated by
liquor sales is actually high
er than the refunds cities are
now getting.
Incorporated cities get
about 10 per cent of both the
total liquor tax. and gas tax
35
$30
1 1
WOOD
SUMMER PRICES
2 Cords
Laurel
2 Cords
Dry Body Fir
SP 3-1855
Wasiiington-OJPIl-The Army
announced today that a Nike
Hercules antiaircraft missile
shot down a Corporal ballistic
missile in an "experiment"
over the White Sands, N.M.,
Missile Range a week ago.
$15,250.00
3 BEDROOM
JEFFERSON SCHOOL
Almost new owner built
immaculate home. If this
doesn't suit you, nothing
will. Has 1 Vi baths, too.
REAL
ESTATE
EASTSIDE LOT
$1,800.00
SACRIFICE PRICE
GENESSEE
APARTMENT HOUSE
LOCATION
238 ft. of available front
age. Nothing on the east
side like it, quiet, close in,
NEAT, NICE,
PRICED RIGHT
Absolutely nothing needs
to be done. Cute as a but
ton. Sliding glass door
opens master bedroom on
to private patio. The $14,
500.00 price will also
please you.
( VANDAGRIFT
LEEVER-WHALIN I
1 REALTY I
l 328 South Centre! I
Ph. SP 3-5391 A
COUNTRY AIR
IN COMFORT
This is a dandy, neat home
just a few minutes from
town, yet in a rural area.
2 bedrooms and alt the
amenities for just $10,-500.00.
SHADY COVE
SEE F. FAGALDE
Cabin on river, trees, ni
setting, $5,500.
Justin Smith SP 3-6368
Florence Fagalde ....TP. 8-261 1
Bill Kerr SP 2-4496
Ann Rice SP 3-567S
Lloyd Bishop SP 3-4256
22 acres, small dairy, irri
gation, nice 3 bedroom
home. Good highway front
age. 1 8 extra acres can be
leased. $28,000. Terms.
revenues, the rest remaining
with the state or going to
county government, Gutjahr
noted.
Gai Tax Refunds
State gas tax refunds are
directed by state law to be
placed in a city fund called
the State Tax Street Fund.
They are to be used only for
construction and maintenance
of city streets.
Gutjahr said that gas tax
refunds just about cover the
cost of maintaining Medford
streets. Actual construction of
new city streets must come
from other sources such as the
10-year street improvement
bond issue approved by the
voters in 1956.
Griffin Creek Area
314 acr.i, excellent well, irrigation water available.
3-BEDROOMS, 1V4 baths, wall-to-wall carpeting.
Property well kept.
$14,250
SP 3-4415
in rrj
WE WANT YOUR
HOME IN TRADE
On A Beautiful . . . New
3 or 4 Bedroom Home
IT'S EASY TO DO
Our Trade Plan Will Fit You!
Just give us a call and we'll gladly show you how you can use
your present home as a down payment on a new, spacious
3 or 4 bedroom home in beautiful Ear hart Park.
E. MAIN
Z
o
3.
3"
AS
LOW
AS "V (J fci down
That's All The Equity You Need!
Fortune
Earhart Park
I
In 1
13
I is
I 1
South End of Willamette Street
00 East Main Street
DRIVE OUT
TODAY!
Open Noon to 5 P.M.
Week Days
6 P.M. to 8 P.M.
Vandagrift - Leever - Whalin Realty
328 South Central
Phone SP 3-5391
ir i
IRRIGATION
PUMPS
to 60 H.P.
$OQ50
From MmW UP
Washinglon-H'PIi-A new, ma
jor American relief program
for the earthquake victims of
Chile was under Intensive
consideration at the White
House today with some possi
bility of action by late Sat
urday, administration sources
reported.
"A7 Builders Supply
727 W. McAndrewi SP 1-4575
Irlcks
QUALITY
II n CL-II-...
3 111 fi OIldllUTT
00
Well
08
Vi H.P. DEEP WELL
With 42 Gallon Tank
.4 xnrl
Air
if
Charger
15450
Complete
Siskiyou Hardware
Ph. SP J-2939 J2S W. Mile
MEDFORD. OREGON
Wt Giv StH Green Mjmpt
jPlWE BETTEI'
designed and built by A. R. Dubs . . .
exciting
for modern family living!
MEDALLIOM
308 Stanley St.
in Medford
School District
Located in Country
Club Manor South
of Golf Course
This distinctive, large 3 bedroom
family home features wide, low
rustic overhangs with a lifetime
shake roof, blending with beauti
ful Palos Verdes stone; ' covered
patio; built-in barbecue; built-in
music center area; complete slate
entry; beautiful cedar and walnut
panelings; beamed ceiling; mo
saic tiled bath and utility area.
Guaranteed by the Bronze Medal
lion, some of the features are:
Modern ceiling cable heat, Vacu
Flo cleaning system, indirect liv
ing room lighting, all-electric
kitchen.
(Lmk
For Information
Phone SP 3-3933
BLOCKS ""
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