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
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