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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (April 11, 1962)
Mo Manufacturers Expect Price Increase on 1963 Mod Consumer Would Feel Effect of Steel Price Hike Detroit -HIP6- The auto in dustry, handed a $90 million bill for higher steel prices, is expected to pass it on to the American consumer next fall by raising the price of 1963 model cars by perhaps $50. The list price of 1HB2 model cars, however, is not expected to be affected by the $6 per ton steel increase announced Tuesday night by U. S. Steel Corp. Thai was the unofficial con census in the industry. Of ficially, the five big carmak ers began studying the unex pected steel price hike. One industry executive commented priv ately that, "We're very unhappy. The itcel price increase is unwarranted." industry sources said no boost in car prices is likely during the 1962 model run be cause the industry historically announces a basic price each year and slicks with it until new models come out. In addition, carmakers al ready have an average one month stockpile of steel-an inventory built up as insur ance against a possible steel strike. This steel was pur chased at the old price. The industry has not had a general across the - board in crease since 1958-the time of the last major steel hike. Then prices went up about 2 per cent, or $50 on a $2,500 car, an average that may be matched this year. The industry uses upwards of 15 million tons of steel a year for cars, trucks, other transportation vehicles, and spare parts. Between one and two tons if steel are used in cars. Thus, the steel hike would mean a $6-12 basic increase in car costs. But the total bill would be $90 million. Be sides, steel is usually a bell wether for other industries providing auto materials. So the car unit cost could be higher than $12. The auto industry, which in creased prices steadily from 1955 through 1959 models, ac tually reported a slight de cline last year, even though it signed a new wage contract for 55,000 workers. Increased labor costs, cited as one reason for the steel in creases, could also be a factor in car-pricing policies for 1963 models. Summing it up, one indus try expert said, "There proba bly won't be any increase now but I don't see how we can avoid it next year." V f "".,,.. w fr-, , ' - -4'7"'',-.'t''' 4h 't"V "4 - - i .. -f ,, - P ' . ?''' V . k 4. I L ? V!!Ui.K ' " -- " ,- --? y"i- - i. t , ",C I r(rS MANEUVERS AWAITED Ships of the Atlantic Fleet lie cruiser Long Beach, in the center is a carrier of the For- at anchor off the naval base at Norfolk, Va preparing restal class, and to the far right and in the background is for maneuvers rriaay ano Saturday which will be wit- ihe nuclear carrier Enterprise. (LiPi) nessed by President Kennedy. At left is the guided missile Disguised Witness Claims Air Force Captain Gave Away Military Secrets Weisbaden, Germany (UFII A heavily disguised former Communist espionage officer testified today that U. S. Air Force Capl. Joseph P. Kauff man passed military secrets to East Germany. The witness, Guenther Maennel, a former East Ger man secret service agent, wore a false mustache, wig and glasses when he took the stand. He defected to the West last year and is the star wit ness in the case against Kauff-man. Steel Shares Hold Spotlight as Stock Prices Move Ahead New York -IUPII- The stock market surged ahead in heavy early dealings today with steel shares holding Ihe spotlight. High speed tickers ran be hind floor transactions through the first 37 minutes of trading. Every steel stock listed ran ahead from 1 to 3 points at the opening and held most of their gains thereafter, in re sponse to a $6 a ton price in crease by U.S. Sleel, which gained 2. Wall Streeters said the ac tion by the nation's largest producer has rekindled infla tion talk and provided fresh incentive to buy common stock as a hedge against pos sible declining buying power of the U.S. dollar. Tobaccos were also strong, showing gains in some in stances of up to 2 points in a further recovery from recent heavy selling. Barker Accepts MEDPACC Position Harry Barker, KMED ra dio mnnHKor, has announced his resignation from KMED to become associated with the newly formed electronic data processing and computing center in MccUord, "MEDPACC." BHiker will be in charge of sales and programming divi-! sion of the new firm. "MEDPACC" will provide a complete data processing service for all sizes of busi nesses, including business sys tem analysis. Barker has been with KMED for 3'! years, and for the past year has served as radio and commercial man ager. General Manager Ray Johnson said he accepted Bar ker's resignation with regret. Ted Thompson has been named commercial manager for KMED radio, Johnson said. Thompson has been in the sales department for three years. DOW JONES AVERAGES New York-WPluDow Jonei final slock avoragei: 30 in dustrials 695.46, up 2.50; 20 railroads 143.04, up 1.24; 15 utilities 128.90, up 0.55 and 65 stocks 238.96, up 1.14. Sales Tueiday were about 2.88 million shares com pared with 3.02 million shares Monday. Tnenday'i prices on nelcclcd tnrks Allied rhemintl 4m, Alum Co Am fi:i Amortcnn Air Llnm 20 AnuM'irnn Can 4.V? American Motors in A T A T 12. American ToIihcco B-t AnnondM C'ppri 4f, Armco BTa Honriix Corn 7T nelhleltrm Steel 4 1 Hoeing Atr 47 Brunswick .1.1 Caterpillar Corp . -in1 t'hrvaler Corp Cc.cn Coin fti', C H s 4H; Continental ran 44 Crown Zellei ltach 53 'a Crucible Steel .... 10 Curli WriKht 17 llow Chemical On Pont Knslinnn Kodak . Firestone Ford Oeneral Klectrlc . General Fnori General M CiCnrciH Pacific Grevlinund . Gulf Oil HnmrHt.ikr Iriwho Power IBM. 51 Int Pnper .. 3VB Johns Manville s:i Kcnnecott Copper 7fi Lockheed Aircraft 4H Martin Co 2:nt Merck mi'4 Montana Power 40 Montgomery Ward 3H7i Nat'l Biacull flu New York Central 17 Northern Pacific 3ft Pnc Gas Elec 34 Penney J. C 4(1!', Penn RR lfl Perma Cement Ixdt 17 Phillips 5fiB Procter A Gamble 84 B Radio Corporation 5fl:, Richfield Oil 40', Safeway 50-it Sear fl2'4 Shell Oil 37, Socony Mobil Oil .14 Southern Co 53 Southern Pacific 2fla Sperry Rand 2nii, Stnndiird California 3R3B Standard I net I una 50 Standard N. J 53'; Texas Co. 3(i',a Texas Gulf Sulfur 20 Texan Pacific Lnd Truit in Thiokol 34 Trans America 4fi'4 Trans World Air 1 1 ' I Tri-Continental A!tVt Union Carbide 110 1 Union Pacific 32 ' Union Aircraft 45 United Air Mnei 32 If. S. Plywood 40 1. a U. S. Rubber 55a U. S. Steel flft West Bank Corp 32 ' WestiiiKhousc 33 YounK.stown 100 3 Maennel has worn the dis-, man in Greenland," he tosti guise whenever moving about I f jodt ..They listed the weak. in public to prevent recogni-1 , . . . . . tion generally and possible re-1 nesscs and slrong character venge for his flight by Com- j P'nts of these officers, munist agcnt.i. "They also contained state- Maennel testified on the : menls as to the primary mis- Congressional Leaders Dismayed; At Increase in Steel Prices Washington clIPI D e m o-1 "steel management has failed i cratic leaders in Congress to- to cooperate" with the admin day expressed dismay at U.S. istration's effort to keep price Steel's announcement of a $61 lines steady. a ion price increase. i Republican leaders Sen. Ev- snate Democratic Whip erett Dirksen (111.) and Charles Hubert H. Humphrey (Minn.) said it "possibly destroyed an effort to hold back inflation." "Regrettably," he said, second day of Kauffman's court martial after the defense attorney entered a plea of in nocent to the charge of pass ing national defense informa tion to Communist agents. Maennel said he met Kauff man at an East Berlin rail road station at 1 p.m. Sept. 20, I960. "Kauffman identified him self by his service card and travel orders," Maennel testi fied. "I told him my name was Lange and that I was a mem ber of the East Cerman po lice." Actually, Maennel said, he was a full time secret service agent personally responsible for espionage against the Unit ed States. Maennel said he and a col sion of the U. S. Air Force in Greenland." Maennel said the officer gave him the and told him to go back to Kauffman and get his signa ture on them. He said Kauff man did this reluctantly. Bureau Notes New Policy on Insurance Oregon fire insurance buy ers may take advantage of rate reductions which occur during the term of their poli cies without waiting for tne full term to run under a new rule announced by the Ore gon Insurance Rating bureau Since many . fire policies are written for three or five years, the bureau said, this will be a substantial rate bene fit for those who live or do business in areas where rates may be reduced Previously, a policy buyer who wanted to cancel his "short term" policy, and have it rewritten in the same com pany had to pay a penalty rate for doing so, the bureau said. The rating bureau also said Oregon Purchases Sand Dunes Land Soviet papers that, because the new endorse ment procedure is optional with the buyer, he need not change the policy during the term if it is not to his financial advantage. The bureau, which develops rates for most of the fire in surance companies doing busi ness in Oregon, said the new endorsement could be applied on the' first anniversary date of the policy after a rate change becomes effective. GOP Chairman Raps Portland -OJPIL The State of Oregon has purchased 39 acres of sand dunes and beach lands in Tillamook county from the U.S. Bureau of Land Management. nui;u ueuy, oiaie Ljm kj ma riirnrtnr annnnnrrrl tha calo MnFf A 111111101 LJI3I1 leaeuc took kauffman to an t...j..' ., . UIIIIIGI I lull x uuoun v . luid (.uai ill lire mnu - isolated building in East Bcr-w $97.60 I un wnure uicy qucsuunca nim through an interpreter before a Soviet agent took over. Later the interpreter brought out a sheaf of papers written in English and Ger man. Maennel said. "They contained enumera tions of tlie most important officers stationed with Kauff- Portland -(tIPli- O r e g o n's The transaction involves i GOP chairman tbday labeled most of Nestucca Spit, near Pacific City. The state plans a sand dune stabili.ation proj ect and construction of rec reation facilities. About 400 acres of adjoining land al ready has been purchased by the state. Page 2A MedfordJTribune MED FORD, OREGON. WEDNESDAY, APRIL 11, 1962 I fund-raising dinner for Sen. Wayne Morse (D-Ore.) in the nation's capital the latest sign of Morse's reliance on labor bosses. Phillip Roth said the din ner, now being planned, is sponsored chiefly by national ly known labor leaders such as Walter Reuther, George M. Harris and James Suffridge. "It is just further evidence of Morse's complete depend ence upon out of state funds and national labor bosses for maintaining his senatorial scat," Roth said. Hallcck (Ind.) declined com ment until they had studied the developments. So did Speaker John W. McCormack. To Bagin Inquiry House Democratic Leader Carl Albert (Okla.) said the price rise was "unfortunate" and "I'm sorry to hear it." Sen. Estes Kefauver (D Tenn.) chairman of a Senate antitrust subcommittee, said he had ordered his staff to "begin an immediate inquiry into the matter." He called the increase "shocking and irresponsible. "I do not see how it can be justified by the wage agree ment which was negotiated upon the urging of the Presi dent and which was supposed to be noninflationary." One Republican, Sen. John Sherman Cooper (Ky.) said "I think it's a mistake." Sen. Gale W. McGee (D Wyo.) called it a "betrayal of a united effort of all ele ments of our economy to hold the price line." REFUGEE FIGURES Miami -tUPD District Immi gration Director Edward P. Ahrens said Tuesdays 33,123 Cuban refugees came to Mi ami In 1961, more than the numbers ':r 1959 and 1960 combined. IVERSON PAINTS 4th and Barllert Medford k Bucks! . . 1 Blossom ZZ2 Mon., REO. m STEP STOOLS I tN Cuitonwr , ST" SO FREE Gold Bond Stamps Your'i (re just to com in and visitl Nam .. Phone Address City Good at Ivtnon thru April 16. 0n coupon per cuitomer. confidentially We LOVE to Loan! m mis EASY TERMS LOW BANK RATES SEE YOUR DEALER If you want your car to sport a flower on the ra diator, you may have to buy it yourself. (The flower, we mean.) U. S. National will gladly fi nance the rest of the auto through the dealer of your choice. Fast action -no red tape. THE UNITED STATES NATIONAl SANK OF PORTtAND I I JL f ..-.. . . . ,y - .v . ... - i in rs . Foreign Briefs PRESIDENT'S TARIFF PROGRAM PLUGGED Osaka, Jopan-ll'I'-U.S. Postmatlar Genoral J. Edward Day, representing President Kennedy at Ihe biggest trade fair in Asian history, today plugged the President's new tariff program. He said Kennedy's program was "a bold, original and resourceful response" to the communist trade and aid chal lenge. He called on other free world nations to support the efforts lo reduce trade barriers. LARGE SCALE LAOTIAN ATTACKS REPORTED London-1 1'l-Red Chinese and Russian news agencies today reported "large scale attacks" by pro-Western Laotian forces in the Nam Tha area of northwestern Laos. The new China news agency, in a broadcast monitored here, said "Laotian partiotic forces" were "successfully de feating the large scale attacks" of the royal Laotian army. SYRIA PROMISED NEW GOVERNMENT Damascus, Syria - lPli - The military Junta which seised power in Syria two weeks ago Tuesday promised that a new civilian government will be formed within the next few days. SMALLPOX CLAIMS THREE IN WALES Cardiff, Wales-'ll'l-Three women mental patients died of smallpox Tuesday night, raising the toll In South Wales' current epidemic to five. 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