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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (July 19, 1960)
TOEKDAY, JULY II. 1S80 MEDFORD MAIL TRIBUNE. MEDFORD, ORE. KB 109 New Overseas Video Stations on Air Since January , Washlngton-JUPD-The U. S Information Agency has re ported that 109 new television stations have gone on the air overseas since the first of the year, most of them In free . world nations. This amounts to a 14 per i cent Increase, raising the num ber of TV stations abroad from 1,088 to 1,237, the USIA ' said In a survey of covering the first five months of over- 1 seas TV developments during 1980. ' i Of the 109 new stations this ' year, 69 were in western Eu I rope and 40 within the Sino j Soviet bloc nations. ; East Germany Center ! The survey also pointed out that , TV sets now in use I abroad number 34,500,000. V The free world accounts for I 28,950,000 sets and the Soviet bloc 5,600,000. Communist .attempts to I propagandize the free world I through TV broadcasts, ac J cording to the survey, are i centered chiefly in East Ger I many, where 18 new TV sta- tions of all types have gone ' Into service since Jan. 1, mak ; ing a total of 38. - ' "East German television Is i busily extending its networks of stations along the East Zone borders, and increasing its anti-West German . and . anti-American programs, me , repui i earn. Congress Hopes To Solve Problem of 'Soft1 Currencies Washington (CQ) - Co grass is about to give its blessing to a new foreign aid agency, In the fond hope that It will help to solve an in creasingly embarrassing prob lem. This is the large and grow ing accumulation of "soft" currencies for which the U.S. has no use. These are the bahts, dinars, drachmae, ky ats, hwan, pesetas, rupees, soles, sucres and other cur rencies acquired by the U. S. in payment for surplus com modities and dollar loans. No one is sure just how much of this "money" is on hand, since it is spread through dozens of govern ment accounts. As of the end of 1959, however, the U. S. stood to collect $3 billion "worth" of foreign currencies on loans outstanding, plus in terest. And the I.O.U.S keep mounting. Can't Spend It The only trouble with all this "wealth" is that, for the most part, the U. S. can't spend it. India, for example, already owes us the equiva lent of $729 million in rupees and has just agreed to borrow back more than $500 million of the rupees she will pay us for 16 million tons of wheat over the next four years. There's no prospect that these U. S. claims can be exchang ed for goods or services in the foreseeable future. In fact, the Budget Bureau Universal Credit Card Planned by Major Oil Firms Tulsa, Okla.-t)PD-The new est credit gimmick in the oil business-the Universal Credit Card-is here. A Universal Credit Card will be good news to both oil companies and motorists-espe- THERE'S AN EASIER WAY TO GET EXTRA wm SEE COMMERCIAL CREDIT PLAN Why do it the hard way? Call on the Commercial Credit Plan whenever you can use extra cash. Our loan service is fast, . friendly and convenient. Rates are reasonable. That's why thousands of families prefer to use Commercial Credit Plan It's the pay way that fits .. your pay dayl Keep this ad as a reminder to phone or visit us. HOW MUCH DO YOU NEED? tuh Monthly Payments For Vou Oil 24 Mo. 11 Mo. 12 Mo. $100 $9.25 200 $10.41 $13.07 18.61 800 15.62 19.60 27.77 500 26.04 82.67 46.29 760 89.06 49.01 69.44 1000 62.08 65,86 92,69 daily those who hold a credit card good for one company and suddenly find themselves nearly out of gas In front of another firm's filling station. The first cards will go out Aug. 1, with 500,000 expect ed to be in circulation by Sept. 15. Within three to five years, It is expected that there will be some 25 million Uni versal Credit Cards active. Cards To Be Sent An undisclosed number of oil firms have selected the Oil Service Credit Corp. of Chicago to handle the cards. The Oil & Gas Journal reports'- that the credit card holders of these companies will be sent the new Univer sal card bearing the name of the issuing' oil company as well as the OSCC insignia. The new card will be black, white and gray. It will be good for the purchase of fuels and lubricants, accessories, services and repairs up to $25. The Universal Credit Card idea has won applause from Stanley O. Breitweiser, Tulsa, president of the Sunray Oil Co. , "It's about time we stopped complaining about high credit card operation costs," said Breitweiser. "It's . time for constructive action and sound solution before these costs get any higher ..." And the costs are high. Ralph W. Applegate, Chicago industrialist who set up OSCC, said the average cost to an oil company for setting up a credit card account is $4.50. His firm, he said, can do it for $2.10. ' Another major saving, he said, will come in the purging of Inactive card holders. OSCC plans to screen cards after 12 months and propose cancellations of those abused or not used. Companies Like Idea Oil companies have long liked the idea of credit cards, since a survey showed that the average service station credit sale is $5 compared to the average cash sale of only $2. OSCC will feature an ex tended credit plan in which the customer will be charged an extra 114 per cent month ly on accounts over 70 days old. Applegate's firm will charge the companies three to six percent of sales if OSCC han dles all processing and bill ing, or one half to one per cent if companies continue to do their own processing. Oil companies say they ex pect the system to work out well enough for them to dis continue their own cards. A service offered by Commercial Credit Pun, Incorporated op Medford ' 311 K. DARTLETT ST. fhontj SP 3-7404 ALWAYS RIVALING St. Paul, Minn. -fllM- The Minnesota State Fair, one of the largest in the nation, is now held here annually, but it wasn't always that way. At one time rivalry between St. Paul and sister-city Minne apolis was so great that Min neapolis sponsored a compet ing fair. When the Minne apolis event started drawing bigger crowds, the official fair was forced to move out of town, It was held at differ ent cities for five years until a permanent fair grounds was established here. ... estimates that U. S. agencies will need $2.3 billion in for eign curencles to meet over seas costs in fiscal 1961, but that only $130 million of the U. S. hoard can be used. This is because more than 80 per cent of the need will occur In Canada, Britain, France, Germany, ancj Japan, where U. S. supplies of local curren cies are negligible. Monroney Plan The new aid agency, the International Development as sociation Is the brainchild of Sen. Mike Monroney (D Okla.), who conceived It as a means of putting U. S.-own-ed foreign currencies to con structive use. IDA, he be lieved, could put them to work in the underdeveloped countries. Monroney's Idea got no where until the Treasury de cided that it could be used to entice other "hard" cur rency countries Into shoulder ing more of the growing bur den of development assistance. But this would mean the In vestment of gold, not "soft" currencies. As finally approved by rep resentatives of the lending na tions Inst September, the plan called for the World Bank to operate IDA, which would collect a fund of $1 billion within five years - $753 mil lion in gold or dollar's from 17 prosperous countries (In cluding $320 million from the U.S.) and $237 million (90 per cent in local currencies and only 10 per cent In gold or dollars) from 51 poorer coun tries. As a sop to Monroney, the plan Included a provision al lowing any member to con tribute, as "supplementary re sources," the currencies of other members, but only on condition that they agree. As n practical matter, the World Bunk wants no part of the U.S. hoard of foreign curren cies, since they would hnv no greater use for IDA than for the U.S. In adding to the resources of the underdevel oped countries, Funny Money This fact went unnoticed, however, when the Senate op- proved participation in IDA on June 2. "The purpose of the pending bill," said Sen. Prcscott Bush (R-Conn.), "Is to provide a use for Idle funds which belong to the United States, which are locked up In foreign currencies," No one challenged this point. On the contrary, most of the debate centered on an amendment (which was adopt ed) designed to retain Con gressional control over these currencies, by requiring an appropriation in order to transfer them to IDA. Thus the myth that these are the same as dollars was preserved. House approval of the measures awaits action by the Rules Committee, but no trouble Is expected, By the end of the year, IDA should bo In business with Its real purpose Intact: to transfer $753 million worth of re sources (Including $443 mil lion from other "hard" cur rency countries) to the poorer countries, by way of long term, low-Interest leans. Meanwhile, llin U.S. lima of "soft" currencies promises to grow, for a very simple reason. Anything that smacks of "giveaways" has become politically taboo. So Congress Insists that Amuilcn's farm suruluses be "sold" for tot- olun currencies It not for dol lars, and that a large part of the "proceeds" be loaned back to the purchasers. At this rate, according to one estimate, the U.S. could wind up with tlio equivalent of $154 billion In I.O.U.s by the year 2,000. The only answer, says Har vard's Edword S. Mason, Is ... . to stop the "plumy ' " farm surpluses. Until IM ' done, "Uncles Sam's foreign funny money will continue i expand like tub full of Asian steamed rice." (Copyright 1960, Congres sional Quarterly Inc.) NEW PRODUCTS FAIL New York - IW'O - New products are hitting Utt Itot at the rate of 26 a day -but falling at the rate of 23 a day, according to Design Sense, a publication of Indus trial deslgnon. Upplncott St Margullos, Inc The magnilne called (or belter research of all types In the I960'- to re duce "this alarmingly high. Incidence of product fnllure. NOW. .A FILTER MADE OF TOBACCO ITSELF! 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