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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Nov. 7, 1962)
WEDNESDAY. NOVEMBER 7. 1962 MEDFOBD MAIL TRIBUNE. MEDFOSD. OREGON rr-rjn,.. linn ii i in n i I H. ?ri ... ,.i iL' . -.--. Vt ' JJ ; ' SMASHED TRAILER - This house trailer, owned by the U.S. Korcst service, was smashed during the Oct. 12 storm. The trailer, parked at Union Creek, was being lived in by Mr. and Mrs. Gene Arias and Funds Available For Clearing Waterways Debris Corvallis - Special disaster funds are available to Oregon for removing storm debris from waterways to guard ngainsl flooding this winter, it was announced at a meet- ing of the U.S. Department of Agriculture disaster commit tee of Oregon. Committee members ex pressed concern thai plugging of waterways with fallen trees nnd other debris from the Oct. 12 storm could cause exten sive flooding during high wa ter flows this winter, threat ening homes on lower lands, farms, bridges, and roadways. Civil defense funds for na tional disaster under Public Law 875 are available to sub divisions of state government for removal of debris from streams over which they have jurisdiction and will pay es sentially 100 per cent of the costs, reported Colonel Ar thur Sheets, Salem, director of Oregon civil defense. Coit-iharing Dissiler Fundi Stream clearance not qual ifying under P. L. 875 pri marily the problem of Individ ual land owners can be covered by national cost-sharing disaster funds that pay 70 to 80 per cent of the cost with farmers or other Individ uals paying the balance, slat ed Murphy Barnes, USDA representative from Washing ton, D.C. Barnes said prospects are also good for receiving cost sharing payments for removal ot trees and other debris from cultivated lands. Such propos als should be submitted to lo cal agricultural stabilization and conservation service of fices, he added. It is still uncertain whether such cost-sharing funds will be available for renovation of small woodlands and or chards, but Barnes said the possibility will be explored In Washington, D C. Uurged Immedlalt Cleaning F. E. Price, Oregon State unviersity dean of agriculture and member of the disaster conimitte, urged farmers to proceed immediately wilh de bris removal in waterways, pointing out that rnst-sharing payments will he retroactive for all removal work inie the Oct. 12 storm, lie advii-ed iarniers to keep accurate cost records of all work on water way clearance since that dale, Farmers Home Administra-j lion loans for repair or re- ; placement of farm buildings 1 and other farm production a family. Arias Is a forestry technician in the area. None of the family was home at the lime the tree fell, bisecting the trailer. (U.S. forest service photo). retains 18 U.S. Recalled 12 Blockade of During Crisis hh?-iff mMKM BIG BEAR DOWNED R. E. Peterson, a :)fi-year-old pub lisher, is shown at Anchorage Alaska, wilh a DOO-pound Kodiak brown hear and the handgun ho used in downing it. The weapon is a .44 magnum pislol and Peterson believes it is probably the first lime a bear was ever bagged with a handgun. Peterson, an expert marksman, was seeking bal listics information on the gun for one of his magazines at the lime lie shot the bear. (UPI) Your Money's Worth By SYLVIA PORTER Copyright, Hall Syndicate, Inc. By GERALD S. SNYDER United Press International "Armed vessels and belliger ents hovering near the coast. To the most insulting preten sions, the lawless procedures!" Foreign aggressors were closing in on the United States and with these words the President called the Congress and the nation to arms. John F. Kennedy, 1982?,No, James Madison, 1812 exactly 150 years ago, when the fledg ing nation first mobilized to defend a concept now reiter ated to Cuba. On 'that June 1, the fourth President of the United States asked Congress for a declara tion of war against Britain. It was only 30 years since the end of the American Revo lution and England still saw visions of herself as the 'Mother country." Harassed Shipping She harassed American shipping. She seized American sailors on the high seas ("once an Englishman always an Englishman"). She bottled up our ports and made off with American ships themselves. She gave aid to the Indians: Shawnee Chief Tecumsch, with British arms and ammunition, raided the northwest frontier in Ohio, Indiana, Illinois and Michigan. Congress approved Mad ison's declaration by ominous ly close margins (19 to 13 in the Senate, 79 to 49 in the House). Unprepared on the land, on the sea and in the coffers of the treasury, the United Slates took on Europe's greatest power. British Blockade The major British strategy was a blockade. She bottled up Chesapeake and Delaware bays. British 38 gun frigates surrounded New York, Charleston, Port Royal, Savan nah and the mouth of the Mis sisssippi. By November, 1813, the blockade included Long Is land sound and by May, 1314, the entire Eastern seaboard, including Federalist New Eng land. The British "38s", ubiqui tous and powerful, made the U.S. handful of frigates of lillle more than nuisance value. It was one of the most dis mal passages of U.S. history. As a statesman of the time, Albert Gallatin, one lime treasury secretary and con gressman, put it: "We have become" loo con fined in political feelings lo local and state objects. We need to renew and reinstalc Ihe national feelings and char acter which the revolution had i given, and are daily lessening. "To feel and act more as a ' nation. To swell new pride in the country. To spur more na-; tional self-respect." Unpopular Conflict In that spiril, the War of 1812. a conflict (hat was un popular and a military (ailure. went on. to produce some of the brightest chapters In American history. A dale to remember: Aug. , 19, 1812. The U.S.S. Constitu- ' lion meets the H.M.S. Guer- riere in Chesapeake bay. An encounter the British wanted and Americans will never forget. The Guerriere was "Invin cible" but she was no match for underdog Constitution, i She took a pounding and j when the batlle was over lay I helpless hulk in the rolling sea. During one exchange an English broadside, 57(1 pounds of metal, rebounded from Ihe hull of the Constitution. Leg end says a seaman shouted "Her sides are made of iron!" America had its first naval victory. Don't Give Up the Ship A date to remember: June 1, 1813. Capt. James Lawrence, 32, commanding Ihe U.S.S. Chesapeake, met Ihe II. M.S. Shannon in Chesapeake bay. In 15 minutes of fighting, 48 Americans killed and 97 wounded, 43 English killed and 29 wounded. Lawrence, mortally wound ed, cried "Don't give up the ship." A date to remember: Sept. 10, 1813. The Battle of Lake Erie near Put-In Bay. Master Commandant Oliver Hazard Perry, commanding the Amer ican fleet in an open boat from his shattered flagship, dis patched a message summariz ing the outcome: "We have met the enemy and they are ours; two ships, two brigs, one scooner, and one sloop." A date to remember: Sept. 13-14, 1814. Lawyer Francis Scott Key, on board ship, watched the British fleet bombard Fort McHenry at Baltimore for 25 hours. Key wrote a stanza on the back of an envelope. Next day, at Foundation Inn, Baltimore, he finished the Star-Spangled Banner. Crushing Military Defeat A date to remember: Jan. 8, 1815. (Two weeks after the signing of the peace treaty) Andrew Jackson with 6,000 backwoods fighters met 12, 000 British troops under Gen eral Packenham at Chalmctte, outside New Orleans. He lost only seven men to the British loss of 2,000. It was the most crushing military defeat of the war. This ill-conceived war pro duced other heroes and other moments of greatness, but its contribution to American his tory was not military. States man Gallatin foresaw history's view of the teapot "War of 1812" when he declared: "We are more Americans. We feel and act more as a na tion. And the permanency of the Union is better secured." Venezuela To Link Raids To Plotters Washington -lUPli- Venezue la today planned to present as soon as possible a report al legedly linking terrorist raids in Venezuela to Communist plotters both in and out of the country. Venezuelan Foreign Minis ter Marcos Falcon Briceno said the report might be ready to be turned over to the Or ganization of American States (OAS) today. It will deal largely with the recent oil field explosions and the cap ture of most of the saboteurs who set off the blasts. 4-H Flews Antelope Club New officers for the Ante lope 4-H Clothing and Cook ing club were elected Satur day, Nov. 3, at the home of Mrs. Don Anderson. Cooking club officers are Mary Ellen Wallis, president; Donna Nevin, vice president; and Jennifer Nevin, secre tary. For the clothing club, Paul ette Anderson is president; Kathy Pritchard, vice presi dent; and Judy Hill secretary. Treasurer Cheryl Hefley, Game Leader Donna Barton and Song Leader Deanna Grissom serve both clubs. Mrs. Anderson distributed sewing books. She announced that an awards meeting will be held Saturday, Nov. 10, at 7 p.m., in the Eagle Point Grange hall for all Antelope clubs. Everyone is to take his own table service for a pot luck dinner which will pre cede the meeting. Dec. 1 is the date set for the next meeting, to be held at the home of Margie Leh man. Gretchen Ousterhout, Reporter. Eastern Airlines Grounds Pilots Washington -IUPU- Eastern Airlines said Tuesday it had temporarily grounded three pilots on the basis of secret photographs taken by a flight engineer during flights. The pictures have played a major role in the flight en gineers' against some airlines. One of the pictures showed a pilot reading a newspaper in flight, and another showed a stewardess sitting on a pilot's lap. The pilots will be grounded for from 10 days to two weeks, costing , them up to $800 in lost pay. 109 FHMCMG on All Service or Repair Work Drive in for free estimate or Call 772-6208 WHITNEY OLDS 415 So. Riverside NOVEMBER 11TH ISSUE SAVE ON TAXES NOW III BENEFITTING FROM STOCK LOSSES This has been one of the roughest years for investors in the stock market since the great collapse of n generation ago. Millions of us who started 1902 wilh paper profits on our stocks now have paper losses or have sold out at actual losses. Millions of us who cashed in on caoital gains earlier Ihls year are now silting with their- stocks priced well be low what we paid. In these remaining weeks of the year, you can and should lake steps lo get the maximum tax henofil from your losses and to pay the minimum tax on your capital gains. To begin with, you should today: List .ill your transactions in stocks so far in I9(i2 to see precisely what your actual gains and losses are lo dale; List all your polenlial gains and losses on slocks you still own lo .see what additional gains or losses you might take In 19(12. For most investors, the basic lax planning goal will be lo wipe out as much as possible of the capital gains vou already have realized and to make maximum use of your paper lasses. As you are aware, if you have sold stocks owned more than six months nl a profit, your gain will be taxed at no more than a rate of 2S per cent; if you have sold stocks held six months or less at a profit, your gain will be fuily taxable at the regular rales applying lo your ordinary in- j come. And it you hove paper losses larger than the gains you have taken, you can take end deduct up to $1,000 i of those capita losses in excess of your capital gains from your ordinary 1962 income. From a tax viewpoint, it s easy to say you should sell ,slnrk on which you have losses. But from an investment , viewpoint, you may nol want lo he out of the market or j out of your particular slock. Here, then, are ways to lake your tax loss while still maintaining your investment in the market. You c;in swilch from the slock vou sell at a loss Into a t slock similar to it sell one motor, for instance, buy another cilitics were reviewed by K 1 1 A j ('lu"1 inalily. representative Cameron Hen-I want to keep Ihe identical .stock, you can: dry, Portland. I 1,1 Double up on the stock for 3(1 days, meaning vou would buy a toial of shares equal to w hat you already own. I Then, alter HO days you would sell your orgmal batch al a j loss This would avoid the "wash saie" rule and entitle vou I lo take ynur loss luit ou also would take the risk of own- i nig a double batch (or the 3il days. 2l Sell your shares anil repurchase Iheni alter 30 dav. This also would avoid the ' w ash sale" rule and allow your loss, hut hni y,,lt vm,d risk an upsurge in your slock ; while you rc out of it, ,!,) Sl'" Wit shares "shell' and simultaneously buy the' same total ,,( shares, and alter :l(l davs i oer vour short sale i by delivering your older, higher-priced slock. This would j enable you lo maintain an unbroken ow nership without j lakmi! any miduiimal rik due lo your stocks tips or downs! in the 30 d,ns. A tcilcral circuit court has approved this method, hut it's not vet clear that Ihe Treasury will agree j You may find Ihnl you have more paper losses than you can use this year. Nevertheless, by selling and realising j your losses in 1962, you can crcat a "capital loss reserve" I on which you can draw in succeeding years to cut your ; laxes then assuming the market rebounds. You can "carrv I forward" losses above $1,000 to olfsel any capital gains nd up lo $1,000 ol ordinary income a year throuqh 1967. ! There are two if you mav benefit Irom Inking losses now. First, if )ii lake mr ,,n,n,, , mi- ,, ',ai,vj il forward," II will he ti.-aie.l m later eais as a short- j term capital loss no matter how lout; yoii held ihe slock ' Short-term losses tan be preferable to Ions-term capital losses because they are used lim j;,unl shoit-lcrm capital gains. If you lake quick profits nest oar, you can use the carry-over loss to cut the lax rine on them Second, if the market rises next cnr. vou may have no j tax loss lo take. By selling al a loss this yeat and switching i ...is rnmiu.r rial, !, l-,v I., n,, rYlCWrWIM mniS. IMUUIIl. R. E. Schcdccn, Gtesham, chairman of the disaster com mittee, advised farmers to ex plore details of the various loan or cost-sharing programs with their local county exten sion agent, county agricultur f.l stabilization and conserva tion service olfice. or neatest I HA office. County disaster romniillee proposals for USDA cost sharing funds should be sub mitted to the state committee which, In turn, will submit them to Washington, DC, il was explained by Arnold liorilkor, Portland, slale exec utive director of Ihe agricul tural stabilization and conser vation service. w 11 m i i i Subscribers f-i rf)Kirl Imprnjirr r nun .nvery ol the MpiI Trthiin Medtord phonp 77i141. Ash Uni ,'?M tit 'UIM low t or .'Mine 4Ra-:if.t'i, Mnntncur mifl Yrfka, phone (Jl.obf 9-3171. Ir foi ft 41 p m dully und 10 30 ni Sunrirty Il regular drllverv iriivt- hurTy (tPT vnu cull pirn-. nolll offtrr ihn flininHtinc pvcial nifssrHRfr iirrvlrc NEXT WEEKEND IN "1 Help Train I'.S. Ciiiernl- "Prince Charles Grows I'p'1 "Are Parents People?" ?y Debbie ReynoliU SOMETHING FOR ALL THE FAMILY! with your lo Another lor!;, you run hmP thr rirductHhlr t;x loss nnd , still henrlit tmm n price use on (lie in w sun k wmi piireh;tMvi. 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