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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Dec. 11, 1962)
SECTION B Medford VlAJT PAGES 1 to I RIBUNE MEDFORD, OREGON, TUESDAY, DECEMBEr"Ti7T962 MERRY CHRISTMAS - What is old St. Nick doing to pre pare for Christmas in his chilly North Pole hideaway? Noth ing, if you believe this publicity photo from Panama City, Fla. They have the jolly gentleman lounging on one of their balmy beaches, being discovered by two pretty beach combers. (UPI) Stockholders Find Answers in Firms1 Financial Reports New York-IUPIl-The stock holder who today wants to know everything there is to know about the company in which he has his money in vested stands a better chance than perhaps 10 years ago to find his answers in financial statements. This is the conclusion of Robert E. Wischey, president of the American Institute of Certified Public Accountants, which has just published its 16th annual survey of 600 corporate reports. Another source, heading a correspondence school in the accounting field, has noted that the performance of the stock market this year, cen tered particularly on the "break" in May, has led many non-professional invest igators to do some research into what information they are getting about a company from its financial statements. They have become "account ing conscious" in their own efforts to stury stocks which they hold. Lease Information Witschey, commenting recently on the 1962 edition of "Accounting Trends and Techniques," released a state ment s a y i n g the survey showed a trend toward more adequate disclosure in finan cial statements of information on long-term leases. Use of the lease technique 1 by companies large and small, ' In handling their real prop erty, equipment, transporta tion facilities and other prop erties and operations, has grown markedly in the past decade. The accounting re search division of the Institute earlier in 1962 issued a study urging greater information on leases in financial statements. The person reading the statements, the study said, should be able to determine the extent of the obligation under leases. Witschey said the survey of corporate reports showed that in 1951, only 61 of the firms reviewed gave details on their long-term leases. By 1961, 121 were doing so, al most 100 per cent more. Other companies mentioned long-term leases but omitted details. In discussing the stand point of the investor who reads the financial statements Byron Menides, president of the International Accountants Society, Inc., a correspond ence school, said the nonpro fessional investor increasing ly seeks hard facts on which to base his own judgment of prospective investments Glouary Issued Menides has issued a glos sary of the terms found most frequently in financial state ments. In summary fashion he gives some simple defini tions of the terms, and what goes into the lines of figures in the statements The readers of a financial statement should find that some ratios disclosed therein are useful in judging the soundness of a corporation's financial position and capital structure, Menides said. Among these, as an exam ple, is the working capital ratio. The glossary said the difference between current assets and current liabilities is known as working capital or interchangeably, net cur rent assets. 'The assets in this catesnrv should be comfortably higher man tne liabilities or the company will have difficulty in meeting lis day to day obligations," Menides' Glos sary said. "For a manufactur- ting company a pretty good rule-of-thumb is a working capital ratio of 2 to 1 - in other words, current assets which are twice as high as total current liabilities." Grim News of Coal Mine Disaster Hits Hardest at Home, in Mine Fields Editor's note: When disaster strikes in a coal mine, the grim newt spreads quickly around the country, around the world. But it hurts most at home. It hurts not only for those directly involved, but al so for those who live in the coal fields: who work in mines anywhere. In the following special team report, UPI newsmen Lawrence R. Wern er and Richard F. Fontana tell what it's like to "sweat out" such a tragedy. Carmichaels, Pa. -HJPII- A door of the 40-by-25-foot room opens slowly and anxious eyes become fixed on the slightly stooped frame of a man dress ed in miner's gear. The man tries to make him self inconspicuous. He can't. Soon, without saying a word, he reopens the door and shuf fles outside. The people in the room thought there might be some word. They return to their former activity or inactiv ity. A young man just out of his teens looks out of one of two windows at the front of the small enclosure, It's snowing again. Those present speak in mut ed tones. Chairs that aren't occupied are turned at varied angles. So are a few army-type cots. Canvas curtains screen off one section of the room to give some degree of peace and quiet to the weary and those under sedation. The people have something in common the silent heart ache for the men who toil for coal. They are the relatives and friends of miners trapped deep in a coal mine last Thursday. All 37 of those miners are now feared lost. Sixteen bod ies have been recovered. Forces Smile Syl St. Clair 'shifts slightly in her chair. Across the room, Larry Hrl bal extends his Hand to his mother's shoulder. Norma Zuzak forces a smile. "No, I don't mind talking about it," she says. They are just a few of the many who have been huddled in the dull gray-walled corru gated metal building almost constantly since word of the explosion in the bowels of the Robena No. 3 mine's Frosty Run shaft was reported. That was last Thursday afternoon. Their heartache is a com mon denominator. Their pa tience ,so far has been rewarded only with' sorrow and frustration. They cling to a thin thread of hope. But the thread be comes frayed as one-by-one 4-H Club News Pins and Pans The Pins and Pans 4-H club made chocolate brownies at the home of Mrs. Joe Pet rusich on Dec. 8. The next cooking session will be at Mrs. Joe Petrusich's home on Jan. 12 at noon. The lunches will be prepared and served by the 4-H group. Julie Newdall, Reporter Buzzen Duzzen The Buzzen Duzzen 4-H club met Monday at the Evans Valley school. The meeting was called to order by Connie Weide, presi dent, the minutes were read by Betty Taylor and roll call was answered with our favor ite dish. We had 12 members present and two guests. We discussed our projects for the year and for our com munity service project for the year decided to make stuffed caterpillars for the children's ward of one of the hospitals. Our leader showed one of the stuffed toys and we will make them at our January meeting. Our next meeting will be a Christmas party with refreshments served by our leaders. Judy Gilmore, Reporter Smart Cookies The second meeting of the Smart Cookies 4-H club was called to order by president Karyn Ricks. Flag salutes were led by Myrna Young and Alice Min ger. We had one new member, Vcrna Remperl. Our leader. Mrs. Florey dis cussed "Terms To Know in Cooking." On Dec. 8. the Smart Cook ies had their Christmas party at Mrs. W. R. Florey's. Gifts were exchanged. Later the club went skaling at the Rol larena. Our next meeting will be held Monday, Dec. 17, at Mrs. W. R. Florey's. Alice Minger, Reporter Mixers and Fixers The Mixers and Fixers 4-H club has just started. Mrs. Robert Webster is our club leader. We have elected our offi cers at our first meeting. The president is Cheryl Anderson; vice president, Kathy Web ster; secretary, Karyl - Ann Robbins; news reporter, Kar en Sanderson; song leaders, Joyce Sanderson and Patti Kissee; game leader, Beckie Hamilton; refreshment com mittee, Linda Lopcr and Di ane Anderson, and safety chairman, Paula Ragsdale. There are ten members in our club. Our club members are mak ing Christmas gifts for their mothers. We had a Christmas cookie baking and decorating day during the meeting. Karen Sanderson, Reporter Eagle Point Sewetts The Eagle Point Sewetts held their second meeting at the home of Diana Stevens re cently. All members were present and Miss Pamela Ste vens was the only visitor. A report on cotton was given by Gloria Hollis. This was followed by a demonstra tion presented by 11a Moore on how to sew on a button correctly. The next meeting will be held at the home of Mrs. Mor ris Rossi, Brophy rd., on Jan. S. Mary Work, Reporter FREE! $100 CHRISTMAS GIFT CERTIFICATE With Purchase of Your New Rambler at LEA MOTORS Fifth and Bartlett Phone 772-6185 rescue crews recover bodies from the rubble and debris in a shattered passage way 680 feet below ground. Mrs. St. Clair typified the quiet courage of those waiting for word. Her husband, Jay, 42, is one of the missing min ers. "Daddy's got to come home . . . he's just got to get out of there," Mrs. St. Clair quot ed her daughter, Beth, 16. "I'm an optimist," Syl St. Clair added. "If Jay knows he's fighting for his family, I know he will try twice as hard." The St. Clairs also have a son. His name is Larry. He is 14. - A man pushing a broom tries to clear the cluttered floor. Cigarette butts and crushed cottee cups. He tries not to disturb the people who are waiting. He makes his rounds periodically. There is plenty of light in the wailng room. But the walls are that dull gray. The corrugated metal shell is not insulated, but it is warm in side the building. Place a hand against the metal wall and it's cold. Notre Dame Footballer Larry Hribal is just 18. more This fall he played guard on the Notre Dame freshman football team. His coaches say he is a fine prospect. His father, James, Is among the missing. Larry got special permission to come home. In high school, Larry played football against Al Bronakos ki, also 18. The two were friends as well as adversaries. Albert, a student of mining engineering, also is among the missing. "Larry's had once asked him if he wanted to go into mining engineering," offered Mrs. Hribal. "Larry wanted to play football. I think Jim actually was glad the boy didn't want to go into the mine." "I never considered it," said Larry. "I wasn't interest ed in mining." The door opens again. This time a volunteer worker of the Salvation Army enters and goes quietly to the snack bar and coffee counter set up at one side of the room. He says it's still snowing out side. "No, I don't mind talking about it," says Norma Zuzak. "I feel deeply they will be all right." She clings to that fragment of hope. The corrugated walls of the waiting room are still cold to the touch. Another y o u t h his face gaunt stands alone at one end of the room. An older man approches to offer en couragement. "He's next . . . he's next," the boy says, referring to his missing father. The body of one of his fa ther's companions had just been recovered. A look out one of the two windows at the front of the room , . . The fresh snow continues to fall and cover an already deep blanket of white on the rolling, timber-dotted hills of southwestern Pennsylvania. Around Robena No. 3, the scenery is as picturesque as a Christmas card. Festive Yule greetings will have a hollow ring this year in the saddened mining town. FUNDS FOR KING White Plains, N.Y. - OIPU -Entertainers Sammy Davis will lead a fund-raising "West chester Salute for Martin Lu ther King Jr." here. The clv- lil rights leader will be lion- Jr., and Peter Lawford tonight I ored at the program which seeks to raise $23,000 for civ. il rights work in the South, King is president of the South em Christian Leadership Conference. POST OFFICE Open Until 9 p.m. Tonite Village Variety Stflwart ntar King ROBINSON BROS. WILL BE OPEN 2) a.m. to fD p.m. Mon. thru Friday - Sat. 9 a.m. to 5:30 p.m. - Closed Sun. Pre-Holiday Clearance Bargains for Gift Buying Wide Selections! Wonderful Buys! WHY NOT GIVE A ROBINSON BROS. GIFT CERTIFICATE The new sound of music is you at the Hammond Now that you've decided to buy an organ, read why it should be a Hammond During all the years yoifve yearned for an organ for your family, you have probably heard very nice compliments paid to the Hammond Organ. But there s more to our story than these gracious words of praise. Actually, the Hammond Organ is a different kind of instrument than other organs. The difference involves physics, mathematics, musical theory and electro-mechanical engineering. Now, you are about to make that once-in-a-lifetime choice. So read these important facts about organs, and the Hammond Organ. On some happy day . . . very soon ... we hope someone at your house will race to the key board of a new Hammond Organ; press the keys, and fill your home with music. At that moment, you will know that this is, truly, a unique and superior musical instrument. But what makes such a difference? The difference comes from outstanding in ventive genius. The whole concept of the Hammond Organ stemmed from a passion for perfection. So Ihc instrument created is a mar vel not only lo musicians and music lovers, but to engineers. The basis of this invention is a lone generating system which even after more than a quarter-century has not been matched for simplicity, purity of lone, nor in the re markable scope of its musical expression. There is no need to understand the physics of sound waves, or our use of minute electrical impulses, to appreciate the Hammond tone system. Let us explain simply that the system works with small rotating metal tone wheels; an electrical method of producing sound waves; and methods for making and blending thou sands of tone variations. You'll hear five great superiorities in Hammond Organ performance I. No other instrument, no other organ, offers the tonal modulations of Hammond's exclusive Harmonic Drawbars.To explain the effect, let's suppose you want Ihc sound of reeds and It HAMMOND CWflltT 06N, 'POM HMO, PLUS TOHi CAB'rttr, WALNUT 0 0K. iiuih til" r.iiwa-J V."" ,. THE SELF.CONTAINEO HAMMOND ORGAN. FROM M4W. AVAILABLE IN 4 3TUE3, 1 WOOD FINISHES. woodwinds. Move one or more of the Draw bars in or out, and the "reedy" quality changes quite magically. Make it soft, mellow, dulcet. Or strong and vibrant. Other organs cannot do this. Instead of mod ulation, you get only a sharp change of tone by pushing tabs, Remember: only Hammond Organs have Harmonic Drawbars. 2. Another exciting and exclusive Hammond invention is Customized Tone Selection. This makes your Hammond Organ truly your per sonal instrument, in this way: Our console model organs come from the dealer's show room with a conventional "orchestration" of 1 8 prc-sct tones. These 1 8 sellings are the ones most generally preferred, for basic organ ef fects. Yet every player has an individual ear, taste and style. .So we now offer Customized Tone Selection, for simple change of your 18 prc-sct tones to any registration you wish. Test a number of combinations if you care to, be fore settling on one. And . . . your selection can be changed again, easily, at any time. 3. Reverberation is basic to true, rich organ effects. Your Hammond has a special rever beration system so unusual it's patented. Play a one-finger melody in your living room, and make it sound as if you were playing in a con cert hall. Make this depth of sound as moderate or as big as you like. From the first time you touch Ihc keyboard, Hammond Patented Reverbera tion makes you a belter musician. 4. The Hammond Organ never needs tuning. By never, we mean never. With the basic Hammond tone system, it is physically impos sible for the organ to lose pitch, or produce sour fiats or sharps. This is true regardless of heat, cold, humidity, moving or usage. - 5. Touch-Response Percussion is a great distinguishing feature of Hammond Organs. Nearly all organs have percussion ofsomckind, to produce the effect of plucked strings, chimes, xylophone, or emphatic piano tones. But the big Hammond difference is this: with other organs, you get all percussion or none. Every note is percussive until the switch is turned off. With Hammond, however, you can bring per cussion in or out on a given note, or phrase or passage. You do this simply by the way you touch the keys. Not exclusive, but choice Some of these great Hammond features, as noted, are exclusive. Others, equally important to your satisfaction, are simply the marks of uncompromising quality found in all products that are finest in their field. Hammond cabinets, for cxamplc.arc crafted with the same care and attention to detail as all mechanical elements. Woods arc selected with careful eye, and worked with loving care. You will notice the special lustre of a Hammond cabinet instantly. Your guests will notice it, invariably. rrcISk. . jJ" II I III 1 jj About the money... Are Hammond Organs terribly expensive? No, Can you actually buy a Hammond for about the same money you had in mind for some other organ'! Yes. Model for model, and type for type, Hammond Organs are certainly in the same price brackets as any reputable organs. If you pay much less, you get much less. M B THE HAMMOND IUXURT SPINCf OnGAH. FROM AVAILABLE IN 4 SOUS, 1 WOOD FINISHES. THE LOWPRICED HAMMOND SPINET ORGAN, f ROM $HW BENCH EXTRA, AVAILABLE IN 1 STTLES, 3 WOOD FINISHES. Guaranteed, money-back home trial offer: Would you like to have a new Hammond Or gan in your home for a trial deposit of just $25? You can - on Hammond's Guaranteed Play- Time Plan, available through us. For $25, you enjoy a Hammond Organ at home for 30 days -and get 6 lessons from a professional teacher. If, at the end of 30 days, you are not satisfied with your musical progress, or the organ, your $25 is refunded. But - if you decide to buy the organ, the $25 is your full down payment. A bout the decision . . , This is fioi Ihc lime to put it off. You will never be younger than you are loday. Nor will your spouse, or your children. Get your Hammond Organ now, and you can he playing within 30 days. So drop in loday. Let us give you a hand some color booklet that will show you how a Hammond Organ will look in your home. And we hope to be the first to say . . . Congratulations! F.O.S. Ficioff. Pnctt lub4Cl 14 China without not'C OPEN MONDAY Cr FRIDAY NIGHTS TILL 9 j HAMMOND ORGAN . . . music's most glorious voice purucker MUSIC HOUSE 1 1 1 North Central Phone 773-7538 Your Hammond Organ Dealer for Southern Oregon
