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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Aug. 7, 1960)
G O SUNDAY, AUGUST 7. I960 MEDFOKD MAIL TRIBUNE, MEBF0BD, ORE. O B Hi . t I -J :Q ft"-. WELCOME HOME Dick and Pat Nixon home from Hawaii. The Republican Presi wave to the huge crowd gathered at the tenial nominee had been in Hawaii on a Seattle-Tacoma airport to welcome them campaign tour. (UPI Telephoto) Retailers Counting on Record Personal Income To Help Sales Henry Bechtold By HENRY J. BECHTOLD UPI Financial Editor New York - (UPD - The na tion's retailers are counting on record personal income to help make 1960 a banner sales year. Total retail volume is ex pected to reach $226 bi.iion, a gain of 4 to 5 per cent over 1959. Top retail executives remain fairly op timistic about prospects for second half sales despite some apprehension over the short term state of the economy voiced in many circles. To reach this record sales figure, better' year-to-year comparisons will be needed during the important fail and year - end seasons since the first half gain was only 3.1 per cent, according to Stan dard & Poor's. . The statistical agency notes, however, that comparisons over the coming months will be against some slowing of the year earlier pace when demand was affected by the Steel strike and unseasonable weather. Diverse Movements There were some diverse movements in consumer de mand in the first six months this year. Sales got off to a slow start in the early months because of adverse weather in many areas, A sharp gain was chalked up in April, part ly reflecting a late Easter, but gains in May and June were again rather limited. Standard & Poor's says de mand in various sectors dur ing the first half reflected ef fects of the steel strike, and of unemployment. In addi t i o n, consumers apparently were more anxious to reduce debt or increase savings, than to purchase goods, Another factor was price cutting in the appliance field which may have led to some deferment of demand in ex pectation of further price re ductions. Better Trend Seen " Retailers see the combina tion of record personal in come, deterred Duymg ana improved consumer finances through debt reduction and Savings all contributing to a sales gain of as much as 5 per cent in the last half over the like 1959 period. Apparel stores, which did considerably better than other segments of the trade during the first half, are expected to continue this showing in the latter half. These stores bene fitted "from a good Easter season and from additional sales from new stores opened by leading chains. Standard & Poor s sees con sumers continuing to be at tracted to these stores by the availability of good values, aggressive promotion, and broader selection of merchan dise. The growing teenage market in another favorable factor. Alabama Congressman to Inject Tidelands Oil Issue Into Busy Session Mail order houses, which scored above average volume gains in 1959 with the aid of expanding catalog sales and aggressive develop m e n t of credit business, continued this trend in the first half of 1960. Department stores, which kept ahead of 1959 in the early months with the help of a good Easter, made a less favorable showing in the May July period because of the somewhat slower consumer demand and closer pricing. - A better trend is expected to develop this quarter though, with further gains likely in the important final period when the bulk of an nual profits accrue. Washineton - (UPB - An Ala- gama Congressman will inject tidnlands oil issue into the al ready-crowded work schedule facing Congress at its post convention session. Ren Kenneth A. Roberts (D-Ala.), said Saturday he will introduce a bill to give Louisi ana. Alabama and Mississippi offshore oil rights up to 10 and one half miles irom ineir-shorelines. HnhpHs' venture, which ap parently does not have Senate support at this time, is not expected to get out ot com mittee before Congress ad journs. The bill would be an amendment to the submerged lands act of 1953 wlucn set the offshore limits for all Gulf of Mexico states at three miles unless a deeper "historical boundary" was proved. The Supreme Court, in a May 31 decision, ruled that Florida and Texas provea His torical boundaries, it graniea them rights extending 10 and one half miles, or three leagues, into the Guif. How pvpr. the court ruled that Mississipi, Louisiana and Ala bama did not have similar proof and restricted them to three miles or one league. Neither Alabama nor Mis sissippi stand to lose much by the Supreme Court devision at present. However, Louisi ana, which has done a thriving business in offshore oil drill ing, would lose $300 million under the Supreme Court de cision. Rohprts said the decision was "unfair and unconscion able. It was certainly not the intent of Congress in passing the submerged lands act to give any particular state spec ial privileges while roooing and short changing other states." This viewooint coincides with that of Justice Hugo L. Black who said in a dissent that "nothing in the act itself indicates Texas was to be given any more consideration in this ease man Louisiana, Mississiooi and Alabama , , . in my judgment to interpret this act which grants the land to Texas and Florida and withholds It from other Gulf states simply prolongs this costly and disquieting contro versy. It will not be finally settled until it is settled the way Congress believes it is right, and I do not think Con gress wiil believe it right to award these marginal lands to Texas and Florida and deny them to all the other Gulf states," A spokesman for Sen. Allen J. Ellender (D-La.) and Sen. John L. Sparkman (D-Ata.) indicated they would not push any legislation until the Su preme Court ruies on an ap peal for a rehearing. They do not expect a court decision until after Congress adjourns. This would post pone any legislative action until next January. I - - ' ' i r'J'' ' ' " I it --S i ',:-y J' t ' i I iiin mi n "w&TANGA'S PREMIER Moise Tschombe, tions undersecretary. Katanga virtually seat- Premier of the Congo's Katanga province, ed itself from the outside world Saturday tas to newsmen in Eiiabethvil! after a and pressed plani tcconfirm iU independ- meeting with Dr. Ralph Bunche, United Na- ence. 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