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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (May 8, 1962)
o Pennsylvania, New York Antral Rail ierger About 41 pur cent of Fin. land's 4 5 miilinn people live on small fanrs. (Advertiicrrcnt) o "Otf! .Shareholders Overwhelmingly Approve Plan By United Prest International Shareholders of the New ' York Central and the Penn sylvania railroads have voted approval of a mer .;r of their two lines into a $9 billion, 22,000-mile railroad system, it was disclosed today. The shareholders held their annual meetings with officials of the respective companies in New York and in Pennsyl vania, the NYC at Albany and the Pennsy at Philadelphia Before the NYC meeting cot under way, NYC Presi dent Alfred E. Perlman said the latest count of mail proxies showed about three fourths in favor of the merger into what would be the larg est rail system of the nation At Philadelphia, Board Chairman James M. Symes said that Pennsy shareholders have voted approval by an overwhelming majority: 85 per cent of the 13.1 million shares have been taouiatea and 83.2 per cent of those shares were in favor of the merger. Directors of both roads al ready have approved the mer ger and have petitioned the ICC for permission. The Pennsy-Central mar riage plan is part of a grand design to create three bal anced and competitive rail systems in the eastern part of the nation. The others would be built around the Chesapeake & Ohio and the Norfolk & Western. Seek Added Relief However, officials of the Pennsy and the Central are expected to caution their shareholders today that mer gers represent only a tempor ary .life-line to give the sink ing industry a breathing spell until legislative relief is en acted along the lines of Presi dent Kennedy's transportation policy statement. When the merger was first announced last November of ficials predicted that eventual operating savings would total $75 million a year. Prospects of consolidating six major eastern roads into three giant systems brighten cd last week when an ICC hearing examiner recommend ed approval of the Baltimore & Ohio Railroad as a step to ward merger. The ICC Is on record as favoring rail mergers when .they deem them in the public Interest. However, many in dustry observers feel that the Pennsy and the Central will not have an easy task con vincing federal regulators they no longer are the awe some economic powers they once were. Opposed By Labor Labor has raised its voice against the merger. Rail unions have estimated that as many as 25,000 to 30,000 jobs could be lost. However, officials of both roads counter by saying that if the merger fulls through, they will have no choice but to continue to lay oft workers until they reach the point of no return. Monday, the Railway Labor Executives Association, and five other parties were grant ed permission to intervene in the Pennsy-Central mei.ter hearings before the ICC. No date has been set for these hearings. Last week, hearings were completed on the proposed Norfolk and Western-Nickel Tlatc consolidation. The Pennsy-Central merg er would create a network with more than 20,000 miles of tracks and annual oper ating revenues of about $16 billion. Us tracks would stretch from Washington to Boston on the East Coast and reach as far west as St. Louis and Chicago. STEPHENS democratic candidate f , ' 'SS&P ADMINISTRATION Pd. Adv. Stephen! for ShtfHt Comm., E. Potton, Chmn., 96 Loiict Line, MedlOj Overflow Crowd Hears Gus Hall Madis , Wis. -IUPR- Nation al Communist leader Gus Hall, earlier permitted to speak in Oregon only after a stir, addressed an overflow crowd of students here Mon day night on the University of Wisconsin campus. A capacity crowd of 1,300 jammed the campus theater and 400 more stood in corri dors. Hall appeared on the Wis consin campus only over pro tests from some groups in the state. His earlier appearances in Oregon created a similar fuss, but he was finally allow ed to speak at several schools, including the University of Oregon. In Wisconsin, Hall drew his only enthusiastic applause of the evening when he said a solution must be found to the arms race. Steel Issues Firm as Most Stocks Mixed New York -IUPD- Many lead ing steels firmed in an other wise narrowly mixed stock market today. Strength in this group de veloped despite the fifth con secutive drop in the weekly steel production. Lukcns and Jones & Laughlin tacked on about 1 each while U.S. Steel and Youngstown added frac tions. Autos were easier and chem icals narrowly mixed. Kern County fell around a point in an otherwise scrambled oil section. Electronics were er ratic with IBM down nearly 10, ex-dividend, and Beckman and Litton up a point or more. Cosmetics, metals, and utui ies softened while some to baccos, foods and drugs moved slightly higher. DOW-JONES AVERAGES New York CIJI"I Dow Jones final stock averages: 30 industrials 670.99, off 0.20; 20 railroads 139.60, off 1.08: 15 utilities 124.84, up 0.07, and 65 stocks 230.83. off 0.37. Sales Mon day were about 2.53 million shares compared with 3.01 million shares Friday. Monday's prlcci on elected looks: Allied Chemical Alum Co Am American Air Lines American Can American Motors AT&T... American Tobacco Anaconda Copper ... 44 ... MVw ... 204. 44 .. tfi'i . 124 'i .. 40 .. 4ft'i .. .17 'j .. 113 .. 37 .. 47 U S.T'i .. 50 7 .. 4' 40 .. 4'i'i .. 5P.ii .. 17 i .. 17' .. 52 ..2:iasi -.10)1 .. 42 .. li .. 71 Armed Bend Ik Corp " Bethlehem Steel Booing Air BriiiiKwIck Chrysler Corp Com Cola CBS Continental Can Crown Zellrrhneh Crucible Steel Curt lis WrtKhl Dow Chemical ... Dti Pont Enstmnn Kodnk Firestone Ford General Electric General Food Generiil Motor Georeia Pncific Greyhound Gulf Oil HomentnVe Idaho Power IBM Int pHpcr John Manvllle Kennrcntt Copper Lock heed Aircraft Mnrlln Co Merck Montana Power Mntttftnmrrv Ward National llirrult Now York Central Northern Pacific Radio Corporation Klrhlirld Oil Srtfrway Srnn Shell Oil Southern Co Southern Pacific Sperry Kmid ixd) Stnndnrd California ixd) .. Standard Indiana Standard N. J Texan Co Texas Gulf Sulfur Texaft Pacific Land Trust Thtokol Trans-America Trans World Air Tri-Conttnenlnl Union Carhido Union Pacific (Tinted Aircraft (Tinted Air Lines V, S. PI v wood IT. S. Huhhcr U. S. Steel West Hank C orp WrrftitlKhdllse YounEHtown 5i n Iti 57' Political Roundup Durno Urges American Farm Surpluses Be Given To Hungry People of World By United Pres International Rep. Edwin Durno, a candi date for the U.S. Senate, called Monday night for the nation to give its stockpiled farm sur pluses to the hungry people of the w.orld. He also called for farm controls based on bushels instead of acres. Durno, seeking the Republi can nomination, spoke at Mil-ton-Freewater on a campaign swing through Eastern Ore gon. The Medford Congressman said acreage controls are fool ish, since improved farm methods yield more per acre each year. He said bushel limits would provide an Iron clad control. Another U.S. Senate Repub lican candidate, Corvallis pro fessor Harold Livingston, call ed for two immediate steps to aid the lumber industry - ad Foreign SHARP NAMED TOP COMMANDER IN PACIFIC Tokyo - illl'll - Rear Adm. Raymond N. Sharp will become the U.S. Navy'i top air commander in the Western Pacific May 16. the Navy announced AMERICAN GOES ON TRIAL IN GERMANY Karliruhe, Germany - IDI'll - American businessman Har old Noah Borger. 42. of New York City, went on trial Mon day on charges of trying to obtain U.S. military secrets and pass them to Communist East Germany, HERTER CALLS FOR COMMERCIAL PARTNERSHIP Brussels - IIIPII - Former U.S. Secretary of Slat Christian Herter called Monday for a Free World commercial part nership. ISRAEL, CYPRUS SIGN TRADE AGREEMENT Nicosia. Cyprus - llfll - tween Israel and Cyprus was one-year agreement, each nation will give the other's prod ucts favorable trade treatment. MALI PRESIDENT TO VISIT Moscow - II I'D - President the Soviet Union May 21 to May 31. the official news agency Tass said Monday. Family reunions are fun (but ioit Grand old American tradition, the family reunion! A happy time-, too especially for the youngsters. But most family reunion 'take time, and travel, 'and a lot of planning. In hese davs of wide distances between families, o many people use the telephone to keep the fami!y0close, to get everyone together more often. For example, a lomjj, o distance Conference Call face riiht) is an easy, inexpensive way to haxe a reunion and iust ahout the next o o host thing to hoing there, t'se long distance to have v"- next family reunion. ( PACIFIC NORTHWEST BELL I7 . . justments in rail and water shipping. He said adjustments must be made so that Canada no long er benefits from cheaper for eign ocean shipping and from a 15-day free railroad "ware housing" lay-over for lumber shipments. Democratic candidate for governor Walter J. Pearson charged Monday he is being opposed by "left-wing radicals who have gotten control of the Democratic party in Oregon "They want to defeat me because I have consistently stood against them in the leg islature and against their pro posals to waste taxpayers money and to put the state into all kinds of business," he said. - Ex-Congressman Charles O. Porter, seeking the fourth dis trict nomination again, said in Lebanon today that "provid today. The first trade agreement be signed here Monday. Under a SOVIET UNION Modibo Keila of Mali will visit 0 Briefs teli w! 1; It.:, ' w , in .ii-i .,...,n,..- - -it iflhlr itsslni iJSTW T II I Hil I I ll tf n HlP I f "fjtf ' ni ing opposition to the progres sive policies of the Kennedy Administration without put ting forth constructive alterna tives is clearly not the way to help Oregon's lumber and ply wood industries." He said Durno had voted against the final version of the Kennedy supported housing bill. Porter said this "could not possibly be squared with the best inter ests of this district." Oregon House Speaker Rob ert Duncan, another fourth district Democratic congres sional candidate, visited Presi dent Kennedy Monday. He said he discussea rne state's lumber problems with the presidential staff. There was no indication what position Answering Service Given by Institute New York - OIPI) - The Alex a n d e r Hamilton institute, which trains executives in business administration, of fers an answer service to its subscribers on any business problem they may have. Some of the unusual ques tions answered include one on a method to dredge the Mediterranean and another on how to start a minimum se curity penitentiary. MOTHER'S DAY . CARDS FOR SUNDAY, MAY 13 When you care enough lo send Ihe very bet Cuiom'e 217 E- Main Oncm 9 Medford o the administration would take on various pending bills in Congress designed to help the lumber situation. Republican senate candidate R. F. Cook criticized Presi dent Kennedy's plan to have tax withholding on 20 per cent on interest and dividends. "This bill is one of the most shocking impositions upon citizens in our history," Cook told a GOP meeting in Hills boro. "It burdens every cor poration and stockholder." Willis A. West, candidate for the Democratic nomina tion to Congress in the first district, called for an expand Regional Edition Medford MEDFORD, OREGON, SAVE 50 OR MORE! ECON-O-CLEAN Professional Dry Cleaning With Coin Operative Economy! Cleaning and Spotting Onlyl Nu-Way Cleaners 601 E. Main St. Dumas Domestic Laundry and Dry Cleaners 30-32 North Riverside Medford Cleaners - 34 North Holly Drive-in Cleaners 702 W. Main, 844 S. Riverside Crystal White Laundry & Dry Cleaners 811 N. Central-Medford Ashland Laundry & Dry Cleaners Gressetts One Hour Martinizing :m mils can hare them more ed recreational development He spoke Monday at Newport. In Eugene, State Sen. Rob ert Straub, seeking the fourth district Congressional nomina tion, declared that "the single most important job facing Congress today is to help President Kennedy de v e 1 o p new avenues to world peace." Straub said that "although the decision of Kennedy to have this country resume nu clear testing must be support ed, . . . we must recognize . . . that this perilous and tragical ly wasteful course cannot be continued for long." Page 2A STribune TUESDAY, MAY 8, 1962 MINIMUM ORDER $1.90 often by pliqne) U NEEDS MOUSETRAP A1CLOOK, iNeO. - IITU munu F-r.-r t" ' station KWRV was off the airJ;:i for two hours Monday because . ,-. of a short circuit that resulted l''J2,''.',l?. when a mouse was pursued into its transmitter by a snake. MARY PRCCTCI Mother's ftlC'l A SPRAY-5TEAM-DRY IRON So troublefree it uses tap ter. Instantly switches from spray to steam to dry. Can spray even on dry setting. Clear view heel allows ironer to see all her work. 'my Fully automatic, self-lowering toaster, lowers automatically . . . toasts to the desired shade automatically . . . and gently rises extra-high automatically Gold and black porcelain end panels. Chrome side panels. SPECIALISTS IN 245 S. Central at 10th - Ui - i4;: - i o, 5-. Q-J v I ' ll tatty 7axit&'4. ! - f, tCt "C'.V PeDl f:- at 70 Trf t.' ft ti'. i.v o ir:n c ;l ' T.-y O.t'e . , K:i r,, tin I f .-'-::, ' t-- -''. 'r'''; '" I "bl';"' ' l'; "'" Day I I? 1 Regular D?,Y Llwli J fin v 4 Siica rio can TJlafe' IiM1 Li Wki mil Gifi" Vrsppsd Opsn FriJsy Evening FRE2 PARKING C'JAIITY AT LOWEST PSICE3I '- 1 H 0 f V.'A P. 5 S ! Fhcno, SP 2-5201 I .-. '. for '('), I ' i. II -'1 ' i : i ,rn " Li i i 0.
