WEDNESDAY, OCTOBER 5, 1960
MEDFORD MAIL TRIBUNE. MEDFORD. ORE.
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Medical Care P
Two Appointed to
Watchmaking Board
Salem -OJPII- Gov. Mark Hat
field announced two appoint
ments Tuesday to the Oregon
Board of Examncrs in Watch
making and Cloekmaking.
Axel S. Andersen, Portland,
was appointed to succeed
Howard M. Lee, also, of Port
land, who resigned. Harold
W. Laurence of La Grande
was reappointed.
Wall Street Chatter
New York 01PU In spite of
the severe decline in the stocK
market, the performance of
the domestic oil shares has
been encouraging, Purcell &
Co. notes.
The oils have moved steadi
ly downward against the gen
eral trend of the market for
the past two years, Purcell
says, but much of the decline
was due to the fact that these
bed
forgiving the United Way!
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If You Hovan'l Made Your
Pledge Yet-Do II N0
EVERYBODY GIVES EVERYBODY BENEFITS
Medford Mail Tribune
companies were highly valued
for their formerly strong
growth characteristics.
"While these stocks have
been devalued as growth is
sues by the market, their
earnings have been up to a
greater degree, and many now
appear to be oversold," the
firm points out. "On the
whole their near term outlook
is favorable especially when
compared to the entire economy."
Lucien O. Hooper of W. E,
Hutton & Co. says some of the
privately circulated Washing
ton news services are discov
ering that the economy is in
a mild recession now instead
of facing a "possible mild re
cession" in 1961. "They are
trying to guess the end of it,
and come up frequently with
the second or third quarter of
next year."
Paine. Webber, Jackson &
Curtis recommends Hammer-
mill Paper, a major producer
of business and printing pa
pers, for long-term capital ap
preciation. The advisory serv
ice reports Hammermill is be
ginning to benefit from the
substantial capital expendi
tures made in the past few
years. "Additional facilities to
be completed by the end of
1061 will widen materially
Hammcrmill's profit poten
tial."
Benton Turns Down
School Consolidation
Corvallis -(UPII- Four school
districts in south Benton coun
ty have turned down a con
solidation proposed under the
new school district reorgani
zation plan. The plan was re
jected 20 to 27 by the Mon
roe, Irish Bend, Alpine and
Bellfountain districts.
The first complete journey
along the famous Santa Fe
Trail was made by Pedro Vial
In 171)2.
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Program May
Become Bogged
In Politics
Washington-IUPH-The politically-controversial
new pro
gram of medical aid to the
needy aged has gone into ef
fect without a single state
ready to participate.
Congress approved the com
promise plan, which did not
completely satisfy Republi
cans or Democrats; in the clos
ing days of its post-convention
session. President Eisenhower
signed it in mid-September.
"That would be awfully fast
time for any state to act," a
spokesman for the Depart
ment of Health, Education
and Welfare told United
Press International.
Provides Federal Grants
The program provides fed
eral giants to states which
agree to increase their med
ical aid to needy persons
over 65.
It remains to be seen wheth
er the program-hailed by
HEW Secretary Arthur S.
Flemming as a "first step"
toward dealing with the prob
lem of medical care for the
aged - will become bogged
down in election year poli
tics. But it already has been the
subject of some strange de
velopments. Rejected by Rockefeller
New York's Republican
Gov. Nelson A. Rockefeller
has rejected . the moderate
plan as unacceptable.
On the other hand, Michi
gan, headed by Democrat
Gov. G. Mennen Williams,
who plugged for a more
sweeping program, is the only
state that has passed legisla
tion to carry out the aid bill.
HEW officials report that
18 states have replied to
Flemming's.Sept. 15 letter to
governors outlining provisions
of the program.
It makes available imme
diately about $142 million to
the states for medical care
programs for persons over
65 qualifying as "medically
lndigent"-not on relief but
too poor to afford proper
medical attention.
Not Rejected Outright
A majority of the states
that replied said they would
participate and none rejected
the program outright, one of
ficial said.
Every state must submit a
plan to HEW for approval
before it can receive the fed
eral funds. No state has yet
reached this stage.
Democrats controlling many
northern states wnnt a medi
cal insurance program fi
nanced through the Social Se
curity system, as advocated
by the party's presidential
nominee John F. Kennedy.
Therefore, they are reluctant
to sign up until they see how
the election comes out and
how congress acts next year.
Acquisition, Research Credited
With Drug Industry Charfges
By HENRY J. BECHTOLD , cording to the report, with
UPI Financial Editor ethical firms-adding proprie
New York - OJPII - Acquisi- tary lines, and the proprietary
iiun, uivLiotiitaiiun anv, research.
Grange News
Shady Cove Grange
The regular monthly meet
ing of the Shady Cove Grange
was held Saturday, Oct. 1 in
the Shady Cove gym with
Master Cecil Kce presiding.
HEC chairman, Mrs. A. B.
Clark, reported that the per
son who entered in the Na
tional Knitting contest won a
blue ribbon.
The next HEC meeting will
be a 12:110 p.m. luncheon at
the A. B. Clark ranch on
Butte creek.
Mary Casuel was appointed
chairman of the community
service program.
Travis Litllefield reported
on the carpenter tools that
the Grange members were
giving to the school. Don
Silvers had put the tools in
good condition and they were
displayed.
Mrs. C. Watson gave a de
tailed report on the county
library books that are at the
Treasure Trove for the public
to use.
There was a short lecturer's
program of "Surprise Draw
ing'' out of a hat.
,
DEMAND PARDON
Bonn, Germany - ilOT - The
two-million member Federa
tion of Soldier Societies Tues
day demanded a pardon for
all German war criminals.
Hemorrhoids Cured Painlessly
By Non-Surgical Method n
The non-surgical, electronic
method for the treatment of
Hemorrhoids (Piles) devel
oped by doctors at the Dean
Clinic ha'Q?en so successful
and permanent in nature that
the following policy is offered
their patients: "After all symp
toms of Hemorrhoids . . , have
subsided an.he patient has
been discharged, if he should
ever have a recurrence, all
further treatrrAts will be giv
en absolutely tice."
The Dean Clinic has been
serving the Northwest for fifty
years. Their treatment requires
no hospitalization and does not
employ dnQ or injections.
Write today for a descrip
tive booklet, yours without
obligation: The Dean Clinic,
Chiropractic Physicians, 2026
N. E. Sandy Blvd., Portland 12.
Oregon.
Henry Bcchtold
That's the
story behind
the dramatic
changes in the
makeup of the
U.S. drug in
dustry which
last year hit a
sales peak of
S2.3 billion
against $200
m i 1 lion i n
1939.
Francis I. DuPont & Co.
notes that 20 years ago sales
were split nearly even be
tween ethical drugs (prescrib
ed by doctors), and proprie
tary drugs (advertised to the
public). Last year ethical and
veterinary drugs captured
three-fourths of industry sales
and proprietaries the remain
der. The present dominance of
ethical drugs began in the
mid-forties with the develop
ment of sulfonamides, penicil
lin, and synthetic vitamins,
among others, DuPont & Co.
writes in its October issue of
Investor News.
Good Investment
By the early fifties, it said,
drug equities had become in
vestor favorites, spurred by
Oregon Tourist
Travel Record
Set This Year
Salem, Ore.-lt'l'li-Oregon set
a record for tourist travel
this year with 6.383,850 vis
itors. Carl Jordan, state travel in
formation director, said this
compares with 5,973,152 in
1959, Oregon's Centen n i a 1
year.
Jordan attributed the gain
to such factors as Oregon's
improved highway network,
the growing popularity of va
cation travel in America and
an increased out-of-state
awareness of Oregon's vaca
tion lures through national
advertising.
Income Down
Tourist income this year ones; ana trepidation over me
companies entering the pre
scription field.
Mergers, Acquisitions
This was made possible by
a number of mergers and ac
quisitions involving such
leaders in the field as Ameri
can Home Products, Pfizer,
Merck, Schering, Smith, Kline
& French, Sharp & Dohme
and Norwich Pharmacal.
DuPont notes that the drug
bandwagon also was joined
by companies whose end prod
ucts had been non-competitive
with drug lines. Revlon, Tex
tron and Phillips Electronics
all entered the drug field
through acquisition.
Sales and earnings of drug
companies have been rela
tively immune to cyclical
swings in business activity.
The recent softness in drug
stocks and less than expected
earnings for some of the big
ger firms are attributed by
DuPont to a number of fac
tors. These include the pressure
on profit margins from lower
prices on bulk vitamins and
steroids; markdowns on broad
and medium-spectrum antibi-
down from 1959, to 3170 investigation of drug industry
a Congressional committee.
But despite these toxic ef
fects, DuPont notes, earnings
for 19G0 may well keep pace
with sales which are expected
to rise 8 per cent above last
popuiauon increase, m o r e who s(ayed ,ongcr and spent I Greater Growth Foreseen
was i
million. But Jordan said the1
figure compares "favorably"!
with the $176 million in 1959 !
because the Oregon Centen-;
nial celebration brought in 1
new product development, I ..unusual numbers of tourists 1
sonal income, good profit
margins, and the industry's
resistance to the minor busi
ness dip in 1949.
And industry growth and
investor interest were bolster
ed further by the subsequent
development of antibiotics,
synthetic hormones, diuretics,
tranquilizers, polio and other
anti-viral vaccines.
The complexion of drug
companies also began to
more money than during a
normal vacation year."
The average visitor short
ened his stay by .23 of a day
this year and spent 35 cents
less per day than during the
centennial.
Jordan said the state's tour
ist industry took in $20 mil
lion more than the 1958 rec
ord of S150 million, so on
the basis of this "normal
I year" comparison, 1960 was
every respect Oregon s
change during this period, ac-1 best travel year."
Looking further ahead, Du
Pont sees the industry very
likely exceeding its spectacu
lar growth rate of the past
10 years to cross the S5 bil
lion sales mark by 1970.
And just as in the past,
laboratory research will be
the key to pharmaceutical po
tential. This is particularly
true in the development of
new ethical drugs where in
vestment in test tube investi
gation runs two to three times
as much as in proprietary
product innovation, according
to the study.
Last year ethical drug
makers expended an amount
equivalent to 8 per cent Q
sales, well above the 3.2 per
cent investment made by all
industry.
ta
k t t.
1
- f- C I
,
1
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are the experts in home financing?
Insured Savings and Loan Associations, like ours, are
specialists in the home loan field. These associations
make more home loans than all other financial institu
tions combined.
This means that you can count on expert help from us
when you need a home loan. You will
receive friendly advice and assistance
from people who know this community,
and who know home financing.
Come in and see us when you want
a home loan !
i"o ,,sy
A l.o.ooo
Ssviags & Lesa Assn. cf Ifctkri
29 North Ivy Strest Robert F. Kyle, Manager
hrvR pr-n
1
A Others in Chrysler's price class are building
jr. editions for '61. Not Chrysler! Why? Because Chrysler's reputation has always been based on full-size, full
value cars. Result: your investment in a Chrysler will not be compromised by lesser cars bearing the Chrysler name.
..g, FtSBB'l"''tJ"""' -
to
featuring
the
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o
CHRYSLER 'GJJSJE YORKER 3QQG
WALT'S LITHIA MOTORS
56-60 North Wi St. - Ashland, Ore.
HAMLIN MOTOR COMPANY
8h and Front St. -Medford, Oregon
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