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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Sept. 12, 1962)
MEDFORD MAIL TRIBUNE. MEDFORD, OREGON WEDNESDAY. SEPTEMBER 12. 1962 American Institute Of Banking Chapter Organized in Area "All our current problems must be solved in the arena I of adult education," according to Leroy Lewis, educational director for the American In stitute of Banking, who spoke at the Rogue Valley Country club this week. Lewis spoKe to members of the newly organized Rogue Valley chapter of the Ameri can Institute of Banking. The group included nearly 70 bank managers and employees rep resenting all southern Oregon banks. New officers installed were Gilbert Stuart, Med ford branch, U.S. National bank, president; Edwin J. Christie, Central Point branch, First National bank, first vice presi dent; James C. Holden, South ern Oregon State bank, Grants Pass, second vice president; Mrs. Clarence H. Redmond, Medford branch, First Nation al bank, secretary; and Miss Jean Bitterling, Rogue Valley branch, the Oregon bank, treasurer. Lewis commended Pete Ruef, Medford branch, First National bank, for his work in organizing the new chapter, which is the fourth in Oregon. Ruef is national associate councilman for the Northwest district of the Institute. Explains Purposes In telling the members "What's In It for Me?" Lewis explained the purpose of the Institute chapter. To the high school graduate, it offers an equivalent of three years of college education in banking. To the college graduate, it of fers 28 courses specializing in banking, law, economics, and related courses, and to man agement it offers trained per sonnel who will do a better job. "It is not today any more," Lewis said, "It is already to morrow." He pointed out that one out of three men at the age of 45 lack job knowledge or their knowledge is obsolete. He encouraged bank officers and personnel to enroll in the courses which will be offered each spring. Lewis was introduced by William C. Merrill, the Na tional Bank of Washington, Tacoma, executive councilman for the northwest district. Merrill also gave a brief his tory of the American Institute of Banking. Ike To Assist GOP Candidates Washington-IUPD - Former President Dwight D. Eisen hower will make a coast-to- Funeral Rres Held For OSU Professor Corvallis-lUPII-Funeral serv ices were held today for Dr. Richard Roy Dempster,, 54, Oregon State University phys ics professor, who died Sun day in a Portland hospital. He joined the OSU staff in 1944. China U2 Believed Downed by Gunfire Taipei, Formosa - ilW-An authoritative National intelli gence source said today the Nationalist Chinese U2 plane lost over Red China Sunday probably was shot down by conventional antiaircraft fire. The source, commenting on press reports that the Com munists may have used So viet-made missiles to bring the U2 down, said the plane probably was forced to drop to a relatively low altitude because of engine trouble. He said "further Investigation is going on. ' Meanwhile, Taipei newspa pers said the incident could not be likened to American U2 flights over the Soviet Un ion because Nationalist China considers the China mainland as its territory. "It's our plane flying over our territory," the Public Opinion Daily editorialized. REFUNDS IN BONDS Washington-IUPll-The Treas ury announced Tuesday that taxpayers may elect to take their income tax refunds in bonds instead of cash. Complete Home Entertainment Center DJlgllfieTOK jl " The FAIRFIELD II 'J W II ). The FAIRFIELD Series 933.n.Q5.M 23" tube (overall diag.) 282 sq. in. picture '.$( TUuirViAta. TV plus . i . 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Miller said Tues day Eisenhower will cover nearly every section of tine country. His first major ad dress will be Thursday at Rensselaer, Ind., at a reelec tion rally for House Repub lican Leader Charles A. Hal leek, followed by a breakfast appearance at Kankakee, 111., Friday. From there he will fly to Scranton, Pa., to kick off the formal campaign for the gov ernorship by Rep. William W. Scranton. Sept. 22, the ex- president will swing south for speeches at Columbia, S. C, and Pinehurst, N.C. Eisenhower has agreed to head a rally at San Francisco Oct. 8 on behalf of his form er vice president, Richard M Nixon, who is running for governor. On Oct. 15, he will attend a birthday party in his honor in Boston where he will make a television speech on behalf of New England Republican 1 candidates. eft X i :f'r McNary's Widow To Assist Unander PortlanrMl'Ptl-Mrs. Charles L. McNary, widow of the late Republican senator, has been named head of the statewide women's campaign committee for Sig Unander who opposes Sen. Wayne Morse (D-Ore.), this fall. A 5 BACK JFK PROPOSALS Washington - WPli - About 90,000 signatures supporting President Kennedy's disarma ment proposals were brought Tuesday to the White House. The signatures were collected in IS states by the Peace Race Campaign and the Methodist Division of Peace and World Order. RECEIVES PLATTER Herman Kampking. Gold Hill, received an award for the best single exhibit of white flesh potatoes at the Oregon State Fair in Salem recently. The award was given by the Oregon Potato com mission, and Kampking was presented a large silver platter by Mrs. Florence Johnson. Wit- mi TT'r. on CONTINENTAL TRAILWAYS you are a 1 uvww exclusive FIVE STAR LUXURY SERVICE HOSTESS ABOARD REFRESHMENTS REST ROOM OBSERVATION LOUNGE LOUNGE CHAIR SEATS PORTLAND, SEATTLE, SACRAMENTO SAN FRANCISCO, FRESNO, LOS ANGELES VISIT THE U. S. A.! Only J99 . . . circle-tour or round-trip . . . anywhere on Continental Trailwayi system! . . . (Effective Sept. 10th) 5th and Bartlett Phone 773-1853 YfJ- C'r-.-iiSri-"-'-- Your Money's Worth By SYLVIA PORTER Copyright, Hall Syndicate, Inc. A FAVORED 1963 TAX CUT PACKAGE ! President Kennedy is not going to unwrap the Admin istration's across-the-board, top-to-bottom tax reduction pro gram until January 1963, but one highly favored "package" on which top Administration tax experts have been working for many months is hardly a secret. In broad outline, the formula would call for: A cut in the top personal income tax rate from the present 91 per cent to a maximum of 65 per cent; A split in the lowest personal income tax rate of 20 per cent so that the first $1,000 of taxable income would be taxed at a 15 per cent rate and the second $1,000 would be taxed at 20 per cent; A scaling down of all rates in between to give taxpayers in every income bracket a reduction; A cut in the corporation tax rate from the present 52 per cent level to 47 per cent, the rate prevailing before the Korean War. This is in broad outline. Nothing is yet fixed. Nothing could be in view of the uncertainties about the complexion and mood of the next Congress, current indications of con siderable opposition to tax cuts unless the administration simultaneously pledges control over federal spending, deep disagreement over what should be put into the "reform" part of the package to produce revenues to help offset losses from tax cuts, and doubts about where the economy will be heading four months from now. Nevertheless, the significant point is that many months ago this was the package being put together by Treasury tax experts, for the Democratic administration's tax proposal is in essence the plan submitted this summer by the Chamber of Commerce and that speaks volumes. For what it says is that the Kennedy administration's lop tix men now believe, along with American industry, that our steeply progressive personal income tax rates are acting against the nation's interests today. There never has been justification for the highest rates from a financial view-; point; they produce next to nothing in revenue, since the individuals shrewd enough to qualify for those brackets have tax lawyers shrewd enough to show them how to avoid them. The only Justification in the New Deal days of a generation ago was on the "social" grounds of redistributing income. But the tax theories of the 1930s do not apply to the 1960s, any more than the wage-profit theories apply, for our economy's background has so violently changed. Now, therefore, the key aim is to remold our income lax system so it helps spur our economy's growth and on this, obviously both liberal and conservative tax experts agree. What it says too via the proposed cut in corporation taxes as well as the scaling down of the highest personal tax rates is that a prime objective is to encourage invest ment in productive enterprises that will create jobs and paychecks. While relief for indviduals in the lower-lower middle brackets is included, the cuts are not exclusively for these groups. Businessmen and top earners also get re lief. Here is how the President's Council of Economic Ad visers calculates this tax package would affect you, as a married couple with two children and an income of the following amounts (assuming deductions equal to 10 per cent of your income). l3k Refrigerator-Freezer I 3MMC I wo vegeiaom ursweia r -o ffi m J XMwwu i 'HrCJJua fc. 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