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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Oct. 11, 1962)
Federal fin ditors Studying Books Of Hanna's Riddle Plant Subcommittee's Hearing Hailed Until Nov. 8 Washington -IUPH- Federal auditors moved today to fol low up a Senate stockpile in vestigation of former Treasury Secretary George M. Humph rey's nickel sales to the gov ernment. Sen. Stuart Symington (D Mo.) Wednesday recessed his subcommittee's long inquiry into Humphrey's mining ope--' ations until Nov. 8, two days after the congressional elections. It squelched the possibility of another explosive meeting between Symington and the Eisenhower administration of ficial unless the ex-cabinel member requests a return match. Gavelled To Clota In their last meeting, Sy mington abruptly gavelled the hearing to a close while Humphrey, 73, was on the witness stand, amid a flurry of partisan charges and coun ter charges. Four General Services Ad ministration auditors were scrutinizing the books of the M. A. Hanna Nickel Mining Co. at Riddle, Ore. Under study and target of the Senate hearings were the profits that the company made in selling more than $70 mil lion worth of nickel to the strategic stockpile under a 1852 contract between the Hanna firm and the govern ment. Claimed Excessive The subcommittee contends the profits were excessive, amounting to 57 per cent on sales of about 100 million pounds of nickel, Robert B. Brown, head of the GSA audit division, testified Wednesday that GSA accountants so fir has uncovered $789,534 worth of capital improvements "im properly" charged off to the government as expenses. Brown said the audit of the Hanna books would continue. Son Questioned Earlier in the day the sub committee questioned Humph rey's son, Gilbert W. Humph rey, 4(1, board chairman of the M. A. Hanna Co, and its sub sidiaries, with headquarters In Cleveland, Ohio. The father is 'honorary board chairman. The younger Humphrey In sisted that Manna's profits on its nickel sales to the national stockpile were fair and rea sonable. He said the government was urgently in need of nickel dur ing a critical period of the Korean War, and his company supplied it. Kennedy Signs Trade Bill Washington -lUPIi-Prcsident Kennedy today signed into law his top priority trade bill arming him with vast new powers to cut tariffs and provide cash payments to American workers who lose jobs because of the legislation. Enactment of the measure was considered Kennedy's most impressive congressional victory since he entered the White House two years ago. Congress delegated the unprecedented powers to the President for use in bargaining with foreign countries for freer access to their markets for American products. The historic new Trade Expansion Act is a vast rewrite of the 28-ycar-old Reciprocal Trade Act, which expired June 30. The new law gives the President more tariff-cutting power than any Congress ever has delegated to the executive branch. It gives Kennedy all the vast power he said he needed to open up the European Com mon Market to American exports. He called it the most important legislation before Congress this year. The President is empowered, for five years, to sign new trade pacts binding the United Stales to make part, or all, of the tariff reductions authorized by the new law. Under the new law any American who loses his job 30 days from today, or thereafter, will be entitled to collect 52 weeks of unemployment compensation with payments rang ing as high as about $61 a week, if the Tariff Commission determines that imports were to blame. For workers being retrained for new jobs the payments could run for 78 weeks. Stock List Continues To Ho in Recent Narrow Price Range Now York - IUPH - Stocks failed to break out of their recent narrow price range to day. Chemicals were irregularly lower with Du Pont off near ly 1 Vi and United Carbon down roughly a point. Ailc-gheny-Ludlum dropped close to 1 after cutting the price on its stainless steel. Youngslown Sheet gained nearly a point in an otherwise easy steel section. Autos firmed but oils were easier. Electronics were ir regularly higher. DOW JONES AVERAGES Now York - Uil'l) - Dow Jones final slock averages: 30 industrials 588.14, up 0.96; 20 railroads 118.00, up 1.27; 15 utilities 121.33, up 1.03. and 65 slocks 205.83, up 1.05. Sales Wednesday were about 304 million shares compared with 2.34 million shares Tuesday. Wednesday's prlcci on selected stocks: Allied Chemical Alum Co Am Amcricun Air Llnca ... American Can American Motors A T i T . American Tobacco Aniiconda Copper Annuo . Hendlx Corp Hethlehent Steel Boeing Air Hruiibwick Caterpillar Corp .. r4 .. lit? ,. -i.t Mi- ..IIIII'm .. .iH'j .. ;ih' .- -Hl-'n .. TiO'b .. an, .. an HP, Chrysler Corp Coca Cola CDS Columbia Can Continental Can ... Crown Zcllcrbach . Crucible Steel Curtus Wrijjht Dow Chemical Du Ponl Eanlnian Kodak Firestone Ford General Electric General Ko,i:s General Motor Georgia Facilic G rev hound Gulf Oil IfomcHtake Idaho Power I.H.M Inl Paper Johns Manvillc Kcnnccott Copper .. Lockheed Aircraft Martin Merck . Montana Power Nntioiuil Biscuit New York Central .. Northern Pacilic .... Pac Gas Elcc Penney J. C Penn nil . Pcrma Cement Phillip Procter Sc. Gamble Radio Corp Richfield Oil Safeway , Santa fe Scars Shell Oil .: Socony Mobil Oil Southern Co Sperry Rand Standard California ... Standard Indiana Standard N.J -Stokely Van Camp Sun Mines Texas Co Texas Gulf Sulfur Texas Pac Land Trust . Thioko Trans America Trans World Air Tri-Conlincntal Union Carbide Union Pacific United Aircraft United Airlines U. S. PI v wood U. S. Rubber U. S. Steel West Bank Corp WcMtinjfhouse . 43' 4 . 37 . 30-' ft I Hi A7-2 32 3,5 17 16' 28? Foreign nets RUSSIA TO MODERNIZE SIBERIAN TOWNS Moscow-. U'lu-The Soviet Union will build or modernize nearly 100 towns in Siberia within the next 20 years because of the developing chemical, mining and engineering indus tries there, the news agency Tass said today. NEW ENVOY TO BULGARIA PRESENTS CREDENTIALS Vienna-tLI'li-The Bulgarian news agency reported from Sofia that Mrs. Eugenie Moore Anderson presented her cre dentials to Premier Anton Yugov Wednesday as the new U.S. ambassador to Bulgaria. Kennedy Back on Campaign Trail For Four Days Washington -WD- President Kennedy headed back to the campaign trail today at the same tempo that carried him to the White House two years ago. The Chief Executive was geared for four days of in tensive electioneering In New York, New Jersey, Pennsyl vania, Indiana and Kentucky. The President got a jump on his campaigning Wednes day night when he helicopter ed to nearby Baltimore to ad dress a political rally. He told more than 4,000 persons that the Democratic 87th Congress had accomplished much but that voters had to elect more legislators "who believe in progress." It was a theme that he has stressed this year and will continue to stress during the campaign. After his arrival in New York, Kennedy planned to go directly to the Carlyle hotel. There were no appearances on his schedule today but the White House said he would have several unannounced ap pointments, presumably of a political nature. New York Democrats are waging an uphill fight to un seal Gov. Nelson Rockefeller and Sen. Jacob K. Javits. Neither Robert Morgenthau, former U.S. attorney who is opposing Rockefeller, nor at torney James B. Donovan, who is battling Javits, is given much chance of success. What Democrats are hoping is that Morgenthau can make the race close enough to di minish Rockefeller's chance of receiving the GOP presiden tial nomination in 1964. Canadian Lumber Said Superior To Grades Sold by Western Mills Washington - (UPll - United States lumber wholesalers, opposing restrictions on im portation of Canadian lum ber, handed the Tariff Com mission Wednesday the old question of which came first, the chicken or the egg. Witnesses repre s e n t i n g U.S. East Coast lumber dis tributors told a Tariff Com mission hearing that Can adian sales had risen because of a decline in the quality and reliability of U. S. Western lumber. The U. S. softwood lumber industry contends the indus try has declined because im ports have risen. Earlier two big Canadian lumber companies were ac cused, in effect of restraining trade, which would be illegal in the United States. Bertram M. Hoffmeister, president of the Council of Forest Industries of British Columbia, called the accusa tions "a lot of nonsense." The subject was dropped after the Tariff Commission told lum ber industry attorneys to back up their charges with proof. The Importers had seven witnesses, six representing importer groups and East Coast distributing firms. The latter said his firm might have to go out of business be cause of high cost and low quality lumber if imports of Canadian lumber were re stricted. The ' importers generally gave the same reasons for buying a higher proportion of Canadian than U.S. soft wood lumber, especially lum ber to be transported by wa ter. They said: -Canadian lumber Is of higher and more consistent quality. David Schine, vice president of City Lumber Co., of Bridgeport, Conn., said this was because of the diminish ed supply of virgin timber in the United States. Regional Edition Medford Page 2A Tribune MEDFORD, OREGON, THURSDAY, OCTOBER 11, 1962 -Water shipments of Can adian lumber are more de pendable, and deliveries mora convenient. -Canadian prices are more stable so that wholesaler! can plan ahead. -Canadians are better salesmen. SHIP IT LASME to or from Oakland, San Fran cisco, Los Angeles and other California points. r-s fa 773-7761 Subscribers To report improper or non delivery of the Mail Tribune in Med ford, phone 772-6141; Ash land call nt 418 Bridge St., or phone 482-3002; Montague and Yrcka, phone 842-2403, belore 6:45 p.m. daily and 10:30 a.m. Sunday. If regular delivery arrives shortly after you call please notify office, thus eliminating special messenger service. Hunter Charged With Manslaughter Salem - IUPH - A Salem deer hunter was arrested by Mari on County sheriff's officers here Wednesday on a charge of manslaughter. Oren Phillips, 52. was tnkeii into custody on the charge in connection with the fatal shooting of David McAllister, 60, Silvcrlon, while they were hunting near Burns Sept. '29. Phillips was rclraM'd on $3,500 bond. lie was indicted by the Harney county grand jury at Burns last week. Hartley County Di.sl. Ally. Irving Al len said he will be arraigned at Burns next Monday. Water Superintendent To Attend Meeting Med ford Water Superin tendent Robert L. I.ee plan ned to leave Mcdford this aft ernoon lo attend a meeting of the directors of the Pacific Northwest Section of (he American Water Works asso ciation In Portland Friday and Saturday. Lee is chairman of the Ore gon Water Works Advance ment committee and is a mem ber of the program commit tee of the Pacific Northwest section of the association While in Portland, Lee will visit two pipe companies to observe manufacturing proce dures on 24 . inch feeder main pipe. THE DANMOORE HOTEL 1217 SW. Morrison Si. PORTLAND, OREGON All transient guests. All those who come, return. Rites not high, not low. Free (jrige, TV's and radios Reputation for cleanliness. Children Under Sevan No Charge We'll pay yn INK jus! (or Irving i( Save iwnways! A I normal retail prices new Tatml Sie" liiniiikk costs less per ounce than the icjinlar Me, AiUi lo this the .U)e leluiul w mail you lor timn "I amiK Sic'' ll.si.iuick ami iu l.ae a teal .atnj:. To yet our .Ulc cash return!, scml Ihc bo top iVoin a "l aimly Size" Btsquick packaye together wih your name aiul aikliess to lieneral Mills, llox INO, Minneapolis dt), Minnesota. Oiler expiies November )0, l imit one lo a t'auiib . Hisqmck is (he perfect mix lot pan cakes, walllcs. biscuits, shortcake aiul doens of oilier pood things, ivk up the new ,l4-lb. package UhI.u aiul haul lor our .HV relund! !, L- . ft V how 8is?mrK niwis in ihbi I sits 'to ii3s& ' o o strflTil TV'ffl in O O I SUPER MARKET LIMIT RIGHTS RESERVED - FREE DELIVERY. LOCAL JONATHAN APPLES 40 - 298 TV box CM CABBAGE C lb. 5 YELLOW ONIONS c lb. mi mm LARGE EATING ORANGES V " ' Jk Dozen.... 59c POTATO No. 2 KLAMATH FALLS 50 s. Eos COTTAGE MAYONNAISE Quart M.J.B. COFFEE K53e 2 .b $l05 BLUE BONNET MARGARINE ib. 25c 4-b.93c DEL MONTE DILL HALVES 22-Oz. E S of OCCIDENT FLOUR 25 $179 FABER'S PEANUT BUTTER 20- Oi. 49c 3$119 CADIZ SALAD OLIVES 8-OZ. ALL PURE MILK 9o, 100 14-Oz. SUNSHINE KRISPY CRACKERS 2 box SSC HONOLULU LADY PINEAPPLE JUICE 46-Oz. 4 $100 LUMBERJACK SYRUP 22-Oi. 3 w Sl00 Spare Ribs v" linht Loan SlriAt 1 1 1 r NEBERGALL'S SWIFT'S PREMIUM BACON lb. Sausage Rolls Ham and Beef or Pure Pork Mb. Rolls 00 NEBERGALL'S WIENERS 0 Ik DL HOI Cottage Cheese Pint 1W OREGON CHIEF PICNICS Pound 39( 220 Ej;s Pine St. "A Good Place To Trade" Central Point
