I
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
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at Regular Price
GET 2ND ONE AT
Vi PRICE
Ask Your
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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'!
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wheelbase make
Comet's ride finer
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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
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ARKS
MAR. 22
tfJfAPR. 20
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47-72-73
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CANCH
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WV54-42-45
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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
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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.)
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