Medford mail tribune. (Medford, Or.) 1909-1989, November 18, 1960, Image 3

Historic Oregon Newspapers

Medford mail tribune., November 18, 1960, Image 3

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Newspaper Page TextI FRIDAY, NOVEMBER 18, 1960 ' """"'"H 18, 1960 . MEDFORD MAIL TRIBUNE. MEDFORD, ORE. Reclamation Warned To Avoid Power Controversy, Partisan Politics Financing Companies Show Big Gains Over Lasit Year's Period By HENRY J. BECHTOLD vvi financial Editor New York OIPU - The recent earnings and stock price trends of leading sales and consumer finance companies once again of fer evidence of the "reces sion resistant" strength of this industry. Profits o f major com panies in the installment fi nancing and Henry Bechtold direct lending fields in the third quarter this year showed significant gains over the like 1959 period, a sharp contract with the per formance of most other key groups. Typical year-to-year earn ings gains were reported by General Motors Acceptance Corp. from $10,912,000 to $12,824,000; C. I. T. Financial Corp., from $10,822,000 to $11,801,000; Commercial cred it Corp. from $7,464,000 to $7,549,000; and Household Finance Corp. from $4,657, 000 to ,3,582,000. G. M. A. C. is the auto fi nancing arm of General Mo tors Corp. C. I. T., largest of the publicly-owned sales fi nance companies, and com mercial credit, second larg est, also are prominent in auto financing but have wide ly diversified interests in oth er fields. Household Finance Is the biggest of the so-called consumer finance companies whose business is devoted mainly to the extension of short-term personal loans. The overall earnings trend of big business in the Sep- BUD'S TIRE EXCHANGE V?. Price Sale Continues! Buy 1st Retread at Regular Price GET 2ND ONE AT Vi PRICE Ask Your Favorite Service Station tember quarter was down ward. Such lines as autos, au tomotive parts, building ma terials, farm machinery, chemicals, distilled products, electrical equipment, machine tools, rubber, textiles, rail way equipment and rail trans portation, department stores, radio and television, drugs, tobaccos and pulp and paper products, all reported de clines from a year ago. The number of commercial and industrial groups showing increases was relatively small. In addition to the fi nance companies, the list in cluded, grocery chains, food processors, movie producers, office equipment makers and oil firms. No true compari sons can be made for steel and non-ferrous metals indus tries whose operations a year ago were adversely affected by strikes. BENSON IN FORMOSA Taipei, Formosa-OJPD -U. S. Secretary of Agriculture Ezra Taft Benson said Thursday he does not believe U.S. policy toward Nationalist China will change drastically at the end of the Eisenhower administration. OBSERVE FIRST FLIGHT Nags Head, N.C. - OIPU - The "Man Will Never Fly Memo rial Society" will meet here Dec. 16 on the eve of the ob servance of the Wright Broth ers' first flight. The action of the stocks of sales finance firms In the stock market also is a good indicator of the industry's "re cession proof characteristics. The latest stock prices of the leading firms, all are close to their 1960 hiahs, contrasting sharply with the behavior of the most commonly accepted barometer of slock price trends, the Dow Jones indus trial average, which is run ning more than 70 points be low its 1960 high of 685.47. Built-in Stabilizers According to one industry spokesman, large, diversified sales finance companies possess several "built-in stabilizers that enable them to weather even the most se vere economic storms. One of the most important is the integrity and reliability of the typical instalment buy er who has compiled an amaz ing record of meeting his obligations-even in the depres sion of the 1930s. Also contributing to sta bility and growth of the in dustry are the steadily in creasing use of instalment fi nancing for industrial equip ment and machinery pur chases, and the growing ac ceptance of instalment credit by millions of financially- sound middle-income families as the most convenient and desirable method of paying for an almost unlimited va riety of services and goods, the industry spokesman said. Quotes From the News By UNITED PRESS INTERNATIONAL Hollywood Producer David Selznlck on Clark Gable: "Clark was the worldwide symbol of American virility. He unquestionably was tha greatest male star of our lime." New York Joe Granahan, a bartender, who rushed into a collapsing building to rescue an elderly lady: "I heard something that sounded like an earthquake and I ran out and saw the building shaking, I figured there were people in there and I ran in and kicked on all the doors. , United Nations, N.Y. Congo President Joseph Kasavubu, when asked if a U.N. commission would meet with violence if it went to the Congo: . "I do not foresee that, but I see that the population is against it and I do not know what would happen. If one goes with violence, one is bound to meet violence." Dallas, Tex. A bishop attending the House of Bishops conference at St. Matthew's Episcopal Cathedral when the soft drink machine began giving two and three sodas for the price of one: "The odds here are better than at Las Vegas." A pointed question from your Mercury . Comet dealer ichy experiment'! WE HAVE THE NEW COMPACT THAT HAS ALREADY MADE GOOD No need to guess about the new, untried entries in the field. Comet is the proved success of the compact cars . . . the only one with fine-car styling. And Comet is the first family-size compact. Provides spacious comfort for six full- size people plus plenty of trunk room for their luggage (28 cubic feet!). The refined suspension system and 114" wheelbase make Comet's ride finer than that of many standard cars. Still, Comet turns, parks, handles like a dream. So don't experiment with your money. Get all the fine-car flair, the proved comfort, performance and extra-value features of Comet. It's priced with or below the compacts of other makers. See it here today. COEUOEY the better one for '61 priced with or below the other compacts. See it here now MEDFORD MOTORS, Inc. 225 South Riverside Steps Necessary To Be Effective In Wafer Demands Bakersfield, Calif. (UPD -Reclamation must avoid the controversy over public vs. private power and partisan politics if It Is to be effective in meeting water demands of the future, Sen. Wallace Ben nett (R-Utah), said Thursday, He told a session of the 29th annual convention of the National Reclamation Associa tion here those are but two of the dangers facing recla mation in general and that in the West in particular. Ben nett listed the others as sec tionalism, wilderness legisla tion and "baseless" attacks that reclamation adds to agri cultural surplus. Water Crisis Forecast "It will not be too many more years until we may be confronted with a national water crisis," he declared. "Already some isolated areas have reached the crisis stage. As our population explosion continues, more and more de mands will be placed on our existing water supply." Most deadly of all the dang ers of reclamation develop ment, he said, is the argu ment that increased water use is leading to surplus. "Actually, reclamation re duces the acreage of dryland wheat and similar crops and increases the production of high protein and specialty crops which are in demand throughout the year and throughout the nation," he added. Stormy Days Possible On the subject of public vs. private power, Bennett com mented that if power develop ment "becomes an end in it self, then reclamation is in for stormy days." He praised the Eisenhower administration's record on new starts in water develop ment and said, "I hope this will be an example to his suc cessor and a challenge to him to do better." Extremist wilderness legis lation will mean "the West will be preserved and em balmed for the benefit of the East," he added. Preceding Bennett's address was a panel discussion by four outstanding authorities on problems involving west ern reclamation. The moder ator was Theodore Schad, ex ecutive staff director of the U.S. Senate Select Committee on National Water Resources. OSC Man on Panel Panel members were Prof. Emory N. Castle of Oregon State College, James Van Loben Sels .of Southern. Pa cific Co., Dr. Elroy Nelson of the First Security Corp. Salt Lake City, and James K. Carr, chairman of the Cali fornia Water Commission. The association Wednesday urged that U. S. Reclamation Commissioner Floyd Dominy be retained in his post by the new administration. The action was unprece dented in the association's history. It was taken unani mously in a standing vote of some 1,000 delegates attend ing the convention. There was some speculation among delegates that the new administration would select a far westerner for the Interior Department secret aryship. However, association officials indicated the convention would make no endorsements. The top names mentioned for the post were C. Girard Davidson, Oregon national committeeman and former in terior undersecretary, and Sen. Clair Engle (D-Calif.) In Portland, Davidson said he had seen speculation about his possible appointment and "am greatly flattered." Magnificent Opportunity He added, however, "There is no evidence that Sen. Ken nedy is considering my name. The next secretary of inte rior, of course, will have a magnificent opportunity to stimulate the faltering econ omy of the West and to en courage its unprecedented new growth. No matter who is appointed I'll continue to contribute to the best of my ability to this crucial task of conserving and developing natural resources." Davidson said "cabinet guessing is a favorite parlor game of reporters every four years." He also said the name of Rep. Edith Green (D-Ore.), had been mentioned frequent ly for another post and it was "not likely a state the size of Oregon would receive two such appointments." He added that "in view of the great contribution and outstanding leadership which Mrs. Green gave the Kennedy-Johnson campaign I feel she could have a top administrative tost In the new administration f she desires one. She would have my . . . whole-hearted support." 1AURUS APR 21 v? MAY 21 Khll.U-18-38 ?y 42-50-55 ARKS MAR. 22 tfJfAPR. 20 ,20-21-29-44 47-72-73 01 MINI ,V 1UN 11 B 12-13-24-301 (V69-78M-84 CANCH H,ULYJ3 BTV2-25.27.5a WV54-42-45 6 uo JULY 2 M AUG 23 51-56-60-63 71-77-79-801 vwco SEPT. 22 STAR GA2ER0 By CI-AY R IHJLLAN Your Doily Activity Guide Accord ma to tha Start. To develop message for Saturday, read words corresponding to numbers ot your zodiac birth sign. 1 You 2 Kwp 3 Complete 4 late 5 Put 6 Atlalfi 7Hown 8 Today 9 A 10 Piotmte 1 1 Be.t 12N.n I3A 14 For 1 5 Older 16 Should 17 People 1BV.,.t, 19F.nd 20 Let 21 Your 22 Averoge 23 Moy 24 Brewing 25 Day 2b Deploy 27 Lote 28 Watchful 29 Plan 30 Bothersome (8) Good 3Ete 61 Moke 3 2 On , 2 Bung 33 Poith 63 Mav 34 Which 64 Other 35 Romance 65 Ditconient 36 Your 66 Day 3? Be 67 Happy 38 Tnpi 68 You 39EHi.it 69 Matter 40Ploi 70 Could 41 Sociable 71 Call 42 And 72 Mature 43 Their 73 Some 44 And 74 Plea.ont 4b Your 75 Been 46 Hove 76 Real ne 4? Idea 77 Upon 48 Beginning 78 In 49 Love 79 You 50 New 80 Today 51 An 8tTo 52 Houn 82 Flower 53 Belongings 83 The 54 Moy 84 Bud 55 Proportion 85 Ntce 56 Inlluentiai 86 Gam 57 Good 87 For 58 To 88 You 59 Financial 89 Hanging 60 Per von 90Fue Adverse H jNcutuI UtIA OCT. 2 J .v 3- 6- 8 34dT 46-75-89-90 Nl SCOIPlO NOV. 22 Vj 1-16-19-36- tlO-48 81-82VS SAGITTARIUS NOV 23 DEC 22 5-33-39-581)9 bl-6467 i CAPIKORN DCC. 23 J An! 20 k7.59-66-68v P0-785-86Vi AQUARIUS JAN. 21 -j " JE 2- 9.28 31ft? 32-4S-53 nscis WAR 21 15-1723-2641 43-49-87-889. The Family Council Editor's Note: Tha Family Council consists of a Judge, a psychia trist, thrrf clergymen, three editors and a women's editor. Each article is a summary of an actual case history. The Council reports on problems that have been dealt with by responsible agencies and counselors. Mm. R. F.-Our son refuses to visit a grandmother he has never met. Lloyd F.-She disowned my parents. Why revive things now? Mri. R. F.-They say that worms turn but this one took so long that my son got used to it on the wrong side. He wants to leave it that way! When my husband and I were married, 38 years ago, his family disowned him. We were of different 'liths. My family, too, gave us a hard time,' but with the birth of our son four years later they softened somewhat. Although they were never particularly cordial to my husband, the relationship improved when Lloyd got married a few years ago. Now we all enjoy get togethers with Lloyd, his dar ling wife and their three lit tle ones. In recent years my hus band's mother, who is now 77, has tried to warm up to us. I met her for the first time five years ago on Christmas. She embraced me and gave me a beautiful heirloom bed spread. And of course my hus band and I agreed to let by gones be bygones. Now it is her fondest wish to see Lloyd, our only child, and the only grandchild she has never seen. But Lloyd keeps refusing to call. He says she let too many years roll by. Now's he's not interested. Lloyd F.-For the 34 years of my life, I got along fine with only one set of grand parents. Why complicate my life now? I'm not sentimental. I don't feel any strong "pull" toward family and bloodties. Maybe I'm a cold fish when it comes to relatives. I have scant time to go visiting. When I do, I'd rather go see people I know and like. As it is, I'm way behind on those kind of visits. My mother was quick to forgive and forget. But I re member how she suffered when she explained why I had "no family" on Dad's side. All on account of hdr, she'd say. Now that Dad's family has de cided "enough's enough," why must I Jump at their bidding? They can t wipe the slate clean with a bear hug and a bed spread-nor anything else so easy. Let my grand mother keep on wanting to see me. She should have start ed about 30 years ago! The Council: Lloyd Is being short sighted, if not pig-headed. What Is accomplished by being vindictive toward an aged woman? His grandmother has pun ished herself all these years In foregoing the joy of seeing her son happily married, and watching her grandson grow up. She deprived herself of COMPLETE GLASS SERVICE Phone SP 3-3645 SELBY 303 North Barilett GLASS CO. a rightful share of family hap piness and pride. It's not in Lloyd's power, nor in his par ents , to make up for that. But before sitting In such severe judgment on this elder ly ancestor, Lloyd should ask himself this question: How much free choice did she have? In turning against her son, surely many age-old in fluences were pressing down on her. Chances are it wasn't pure malice or cussedness. No matter how we prate about freedom and free will when you look closely at peo pie you find thai so much is foreordained its extremely hard to break loose. Only the very brave or the very rcck- less-and, sometimes, the very brilliant-succeed. Grandma F. was none of these. Lloyd has nothing to lose and much to gain in greeting his grandmother at long last Who knows but that they'll click on sight and he'll wind up adoring her? And for his children, she's a precious and interesting link with , their past, an Important symbol. If time allows , she can also be come a fascinating blood rela tion to Lloyd and his descend ants, a gentle great-grandma. Added to this, Lloyd will be making things smoother for his father and mother who are eager for an end to fam ily feuds. The grandmother Is a victim of her past. Lloyd belongs In her present and waning future. (Copyright I960, General Features Corp.) Extraordinary Stereo Value! RCAVICTOR fflrt $16995 Tha Mark XXIV. CywUlU Table Modal Slara HI-FI "Vktfofo," Companion ipaakar, ulro, tomolaiti yovf itarao iyi Urn. Hordboord Co bint I in ma hogony, oak, walnut or dSarrf tjfoinad tMihit, Medal 1024. Elegant Consolettel 3 Speakers! 17 Watts! 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