WEDNESDAY. NOVEMBER 7. 1962
MEDFOBD MAIL TRIBUNE. MEDFOSD. OREGON
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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
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Subscribers
f-i rf)Kirl Imprnjirr r nun
.nvery ol the MpiI Trthiin
Medtord phonp 77i141. Ash
Uni ,'?M tit 'UIM low t or
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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
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"Prince Charles Grows I'p'1
"Are Parents People?"
?y Debbie ReynoliU
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Polished Brass Antique Copper
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Reg. List
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OTHERS WITH BUILT-IN 3-WAY SWITCH
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