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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (May 20, 1962)
! i 8 B SUNDAY. MAY 20. 1962 MEOFORD MAIL TRIBUNE. MEDFORD, OREGON Farm Acreage in Jackson County Rises in Value Despite the fact that Jam fng is not much more talis lying, from an income stand point, than it was in 1(154 the value of farm acreage in Jackson county has zoomed amazingly. The government reports mat jocal ' farmlands have risen 17 per cent in value since then. Dartlv the result of a change in the number of larms. They now command higher prices, acre for acre, than farm properties in most other pans ot trie united states ReveaUd in Cantus The figures are revealed in the latest nationwide Census of Agriculture, released by the Department of Commerce. It sets the value locally at $227 per acre for land and buildings. This compares with $194 per acre five years earlier, when the previous ag ricultural census was taken. Elsewhere in the United States, farm property is bring ing $114 an acre for land and buildings. In the State of Ore gon, the price is $93. One of the reasons given by the Department of Agricul ture for the rising cost of farmland is the small amount of it being offered for sale. It points out that the number of farms on the market has been at a low level in recent years and that no change is apparent now. Questions Arlu ' The questions arise: Why are farmers so reluctant to sell, under the circumstances? Are they keeping their land in the hopes of better times ahead? - Or does another theory, put forth by a Department of Ag riculture economist, hold the answer? He suggests that some farmers, who would like to sell, are holding back be cause of the capital gains tax they would have to pay, due to the increased value of their property. Such a tax could be consid erable, he points out, noting that within the lifetime of many present-day owners, values have more than trip led. In a period of only five years, the current survey shows the value ot the aver age farm in Jackson county, counting land and buildings, has gone from $25,862 to $35,. 393. Part of this rise, how ever, was due to the increase in acreage per farm, resulting from consolidations, and must be discounted. Opening Planned For Center Stores Johnston' stores will move Into its two new store build ings in the Medford Shopping Center Aug. 1, according to Bob Johnston, of Johnston Stores. Construction started on the new buildings east from the Biddle rd. entrance recently. They will cover -more than 8,500 square feet in the cen ter of the shopping center. One of the buildings will contain the Whirlpool Poly Clean Coin Operated Laundry and Dry Cleaning center. "This center will be the largest and most modern in Oregon," Johnston said. "It provides attractive furnish' ings and a restful atmosphere for those waiting for their cleaning to be processed." The new appliance, televl sion and marine store will provide more display area all in one building. A complete service department will be adjacent to the sales area and easily accessible to those who are shopping for parts and service, Johnston added. -s. The opening of the new vulldlng will fall on the com pany's 11th anniversary in Medford. Since Aug. 1, 1951, the company has been ex panded to include the active partnership of R. r. Jonnston, Glen F. Bailey and William L. West, who have been part ot the organization since Us founding. 28 Students Apply For Scholarship Twenty-eight students In the Medford area have ap plied for the 1962 $500 ONO SO CALCLE' Step to Knowl edge scholarship, according to Alf B. Mekvold, chairman of the judging committee. One of the applicants will be selected to receive the $500 educational grant to the college or university of his choice. Mekvold said the Judges were pleased with the num ber of applications. 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