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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Aug. 20, 1962)
MONDAY, AUGUST 20. 1962 A 3 f a: 4 'Vc MEDFORD MAIL TRIBUNE. MEDFORD, OREGON tti a ti ej i ii v i i a i iv i e i i n "I-.a mh R'-v.'VAUVAVjn. r.Ov lo?- 'TRW' 0 ... . J i ON TELEPHONE - From his summer home in the Crimea, Soviet Premier Nikita Khrushchev talks with the twin cosmonauts shortly after their landing in Karaganda. Look ing on is Soviet President Leonid Brezhnev. Maj. Andrian Nikolayev and LI. 'Col. Pavel Popovich made history with their dual flights totalling nearly three million miles. (UPI) Canadian Highway To Be Dedicated Ottawa (UPD Canada's 5 000-mile main street, - the $1 billion Trans-Canada highway which snakes across the coun try from the Atlantic to the Pacific ocean - is ready for travel. On Sept. 3 Prime Minister John Diefenbaker will for mally open the road near the summit of Rogers pass in Brit ish Columbia, less than 100 miles from where the last spike in the Canadian Pacific railway was driven 67 years ago. The highway, as was the railway, is being touted as the fulfillment of the dream of Sir John A. MacDonald -Canada's first prime minister - of a nation united from sea to sea, Canada's motto. The opening doesn't mean the highway is complete. Not all of the 10 provinces have finished their share of the project. But the most treacherous parts of the country, where motorists formerly travelled a narrow road that clings peril ously to the mountainside, has been spanned with a two-lane highway. A motorist can now travel from the province of Newfoundland in the east to British Columbia in the west with relative ease. Expensive Section Rogers pass in the Rocky mountains not only commem orates - in an arched memor ial in a roadside park - the MacDonald dream, but repre sents the most expensive sec tion of the 5,000 miles. This section, 92 miles be- Japan Securities Gaining Increased Investor Interest New York-WII-The recent relaxing by the Japanese government of controls over funds of foreign investors in Nippon's securities should have the same long-range ef fect as the earlier lowering of margin requirements is expected to produce in Unit ed States stock markets, the director of a major Japanese brokerage house here be lieves. Terumasa Hasebe. who re cently took over as managing director and head of the U.S. operations for Nikko Securi ties company, Ltd.. said that the relaxation, which became effective Aug. 1, may not show the effects today that it will in the near future. But Hasebe and his com panions at Nikko said they are certain of the long-range effects because they already have had a rire in the num ber of inquiries ab"ut Japa nese securities, particularly from pension funds. The Japanese Ministry of Finance on July 27 an nounced that foreign inves tors who bought Japanese se curities coul 1 not turn to their own country both their pincipal and their profits in SIS Here are the Hotroint Appli ances for which we furnish genuine Hotpoint parts and fast, economical service. Air Conditioners Refrigerators Freezers Laundry Equipment Electric Fanscs t Built-in Ovens Disposalls Dishwashers Water Heaters COME IN" OR PHONE TODAY! AUTHORIZED SERVICE APPLIANCE MART 132 South Central Phore 772-4131 six months and one day, rath er than being forced to wail two years as had previouply been the case. Long Advocated The move had long been advocated by brokers and by companies which are listed on the Tokyo exchanges, in an effort to attract more foreign capital. Meanwhile, the "Big Four" Japanese brokerage houses in this country be came more active in con tracting eligible American in vestors. The recent relaxation was the second of its sort within 16 months. In May, 1961, Japan reduced the waiting period for repatriation of for eign capital from five years to two years, and allowed dividends and interest to be paid out immediately. The result was that foreign in vestor interest, principally American, rose in the 1961 fiscal year to $115 million from the $45 million invested between 1950 and 1910. Immediate repatriation, however, is not likely to be permitted for a time. Japan, a trading nation greatly de pendent upon overseas com merce, keeps a close watch on its foreign exchange bal ances. "Of course, the govern ment action, which had long been sought, came at a time when interest in in' estmcnt in common stocks anywhere had declined in the United States, as has been shown by the low rate of activity in U.S. securities markets." said one of Hasebe'r associates. Many Inquiries "But we have had inquir ies, many by telephone, for information on the market, since the relaxation. We be lieve investment in our secu rities has attraction for pen sion funds in particular. They are not so likely to require rapid turnover as are the mutual funds in some situa tions, and many more looking for growth of investment." Hasebe explained that "blue chips" on the Tokyo ex chance may vary. "Right now, some of the most highly regarded issues in Japan are construction is sues." he said. "Building is a tremendous industry in Ja pai at this time, building of all kinds, factories and homes. The government has made heavy apprr ria lions for it." Japanese investors, he ex plained are not so interested in dividends on a stock as they are in rights issues, per mitting a present holder of stock to obtain more at at tractive rates. This is the standard used by most inves tors to determine the worth nj K stock- tween Golden and Revelstoke, B.C., that runs through gorges and around avalanche-infested mountains, cost about $2 mil lion a mile and commanded the efforts of s o m e of Can ada's top engineering brains. Although the government didn't decide to put the high way through the pass until 1956, engineers began to tackle the avalanche and con struction problems in 1953. An avalanche research group working on skis at nigh altitudes set out to locate each avalanche zone, to recom mend the cheapest and best defense against the snow slides and to set up an ava lanche forecast system. Their work, made more dangerous by the annual 28 foot snowfall that could slide at any time, was not easy. More than once parties of sci entists and engineers were en gulfed and had to be dug out by rescuers. None was ever lost or killed. Their work paid off. They devised an ingenious net work of snow sheds over the road and of-snow catches to California Editor Receives Award Watervillc, Maine - (tM -Thomas M. Storke, editor and publisher of the Santa Bar bara (Calif.) News-Press, to day was awarded a third ma jor journalistic honor for his editorials about the John Birch Society. Colby College announced today that the 85-year old Californian would receive the annual Elijah Parish Lovejoy award for courageous journal ism at a ceremony here on Nov. 8. The award is named after a Colby graduate who was killed by a mob 125 years ago while defending his press. Storke, who becomes the 11th Lovejoy fellow, won a Pulitzer . Prize earlier this year for calling attention to what his newspaper described as a "campaign of hate and vilification" by members of the Birch Society in his com munity. The editorials also won Storke the 1961 Lauter bach award for outstanding work in the field of civil liberties. THIEVES TAKE WALK Dcs Moines, Iowa - - flJPD Thieves stole 60 feet of brick sidewalk during the week end on the Drake university campus. prevent the avalanches bury ing cars. Where the avalanche threat is worst, the sheds - roofs built on stilts - cover the pavement. In other locations 25-foot high earth mounds have been built on the side of the mountain to deflect the I sliding snow. And in other i places 1,000-foot long "bench- I es" with a 10-fool high lip on the edge are built into the mountainside to catch the j snow. i The Canadian Public Works j department believes these ef-! forts will provide as safe a mountainside road as exists In the world. An elaborate warn ing system will warn of an impending avalanche and the road wit! be closed until the snow thunders down. If a severe avalanche over-1 powers the defenses, the road will be closed until it is clear ed. But officials estimate yearly closings will total no more than 12 days each win ter. The Canadian Army is be ing used to. prevent snow banks from building up. They will fire mortar shells into the mountain tops from time to time to provide a small slide. Besel by Problems Since it was decided in 1949 to build the Trans-Canada, construction has been beset by problems. Comple tion date was set originally for 1956, with the provinces I supplying the manpower and 50 per cent of the money. j But several provinces were unable to raise the money and manpower quickly enough. Quebec province refused to participate and until the new Liberal government of Jean Lesage came to power in 1960 no start on reconstructing that French-Canadian Prov ince's 398 miles was started so that only 12 miles are com pleted in Quebec. Latest problem arose last week when a New Brunswick farmer, who claims he was underpaid for his land when it was expropriated for the highway, blocked the highway I by igniting gasolinc-s o a k e d timber and tires. j He was trying to stop a mo- j torcarie which dipped its rear i wheels in the Atlantic and 1 plans to cross the country to ' publicize the opening. A bull-1 dozer pushed the blockade in- j to the ditch and the cars pass-' ed by. The Canadian Automobile association and the Govern- i ment Travel bureau who are sponsoring the motorcade are banking on the Trans-Canada to bring an Influx of tourists J from the United States. I Swift's Premium oun tea d k Just the lean center cuts Boned & Rolled RUMP ROAST Wonderful to Rotisserie lb. Bone in RUMP ROAST Truly the finest FLOUR Gold Medal 10-lb. Bag IS1 ini!Hr lb. H r ."Sp. V , j U.S. No. 1 Idaho Is' ' ' St&S Famous the world over " 10 , 39' I - i CARROTS S: 9., ! 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