Image provided by: University of Oregon Libraries; Eugene, OR
About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Jan. 23, 1963)
Newbry Reviews Some Problems Legislators Will Face in Salem MEDFOHD MAIL TRIBUNE, MEDFORD, OREGON WEDNESDAY. JANUARY 23. 1963 By L. W. NEWBRY Stnator from Jackson County i ne first week of the 52nd legislature is now behind us. and the major accomplish ment is near complete organ ization. As you have noted, I have been appointed to five Senate committees all of which will consider a sizeable number of bills, even though this rep resents a tremendous work load for me personally, it does mean that Jackson coun ty will have a representative sitting in on a vast amount of legislation. There is no question but what the fiscal problem will be the great issue during this session. There seems to be a great variance among legisla tors as to how the additional taxes should be raised. Governor Hatfield has one idea, President Musa another and Speaker Barton still an other, all based upon changes in our income tax laws. The sales tax is being considered in the minds of a few. I per sonally am not sold on any of these measures completely. Sound Taxing Methods It seems to me that the tax program that we formulate should be one that will pro vide not only for the needs of this next bienium but will be broad enough to provide a sound taxing method to Fence Knocked Out Along Hanley Road ; A car driven by Don Wil liam Chandler, 21. of 150 Blackstone rd., Jacksonville, knocked out a section of fence on the Hanley farm adjacent to the Southern Oregon Branch Experiment station on Hanley rd. Monday afternoon, the sheriff's department re ported. Chandler suffered scratches and other minor injuries and was not taken to a hospital, deputies said. The Chandler car failed to negotiate a c-'rve and rolled over. The sheriff's office was assisted by state police in the investigation. meet the requirements of the future. The committee on Ways and Means has begun to study the Governor's budget. Large reductions in this budget will be difficult. There is no ques tion but what it will be re duced, but each saving will have to come at the expense of some state service or re duced activity. The areas of large expendi tures such as basic school Realtor To Head Josephine Group Grants Pass - Gene Whit tier, Grants Pass realtor, has been named to head the Jose phine County Area Redevel opment committee for the coming year. He succeeds re tiring chairman Fred Dayton, also a Grants Pass realtor. , Elected vice chairman was Warren Ralston, of Grants Pass. Josephine county plan ning officer Virgil Adams was reelected secretary. Three new members were included in the group of 17 named to serve on the com mittee by the Josephine coun ty board of commissioners. They are Whittier, Ralston, and John Snodgrass Jr., of Grants Pass. Reappointed were Dayton, Adams, W. Stewart Orr, Jack Brownell, Gordon Burns, Rep. Sid Baz ett, Glenn Kennedy, "7. J. Moyer, Sen. Debbs Potts, Wil liam Shoenleber, Fred Hich ens and Wesley Pieren, all of Grants Pass; J. H. Katzcn bach, of Williams; and Con rad Nystrom, of Galice. President's Mother Can Hear Son's Voice ' Washington - (UPD - Mrs. Jo seph P. Kennedy, mother of the clan, is one Kennedy who doesn't mind admitting she has heard the "First Family" record. At a White House dinner party Monday night, she con fided that when listening to the record "Sometimes I close my eyes and I can hear my son." . Your Money's Worth By SYLVIA PORTER Copyright, Hill Syndicate, Inc. U. S. SAVINGS BOND ONLY LOSER In the great competitive battle for our savings dollar which is now raging across the land, only one major "in stitution" is losing out the familiar U.S. savings bond. While all other financial institutions in our country com mercial banks, savings banks, savings and loan associations have been chalking up spectacular gains In savings deposits as our incomes have climbed, the Treasury's cash sales of scries E and H bonds in the past 12 months actually slipped 5.7 per cent. The reason? Interest rales. For the big weapon being used by the competitors in his war for our dollars is pay ment of higher interest and dividend rates on savings ac counts. The interest rate paid on U.S. savings bonds, though, has remained unchanged since 1959. The upsurge in interest rates on savings accounts in recent years has been phenomenal by any yardstick and the Tise is persisting into this new year. Only a decade ago the average dividend payment by savings and loan associations was Vi per cent a year. Now hundreds of savings and loan associations pay more than 4 per cent, and in California early this month rates were raised as high as 4.8 per cent. Only 10 years ago, the average interest payment by savings banks was in the 2 per cent range. Now 3:li per cent annual payment is commonplace and in New England interest paid by savings banks to de positors runs to 4 H per cent. Only a few years back, com mercial banks paid a picayune 1 per cent on average to their savings depositors. Now commercial banks from coast to coast pay up to 3V4 per cent annually on regular savings accounts and up to 4 per cent interest a year on savings left over one year. In contrast, the return an U.S. savings bonds Is 334 per cent if you hold the bond to maturity in seven years, nine months, and it's a bit over 24 per cent if you hold the bond a year and half. . If the competitive battle for our savings dollar continues as fierce as it has been and it will the U.S. savings bond will continue to lose ground at a time when the bond should be mounting in importance as one non-inflationary medium through which the U.S. Treasury can borrow money to finance the huge budget aeticits ot laoa ana iudi. There then will be only one answer: another hike in the rate paid on savings bonds so the Treasury can compete for our savings dollar and the mtie investors wno Duy u.o. bonds will not be penalized. Under the law passed in 1959, President Kennedy can uthoriie a rate increase as high as VA per cent on sav ings bonds without asking Congressional approval. Rates on savings bonds have been hiked before this in 1952, In 1957. in 1959. Rates on savings bonds can be raised again. I'll wager lhov are raised, say to 4 per cent, for this is entirely logical In vt ru nf the taudeot deficit, the Treasury's need to borrow billions of dollars in the months ahead, the urgency of man aging this borrowing in non-imiationary ways, me vast pooi of savings that exists in our land today of which the Treas ury should properly get a bigger share. The results of the convulsive battle for our savings dol lars in 1962 are now coming In ana tncy re spectacular in deed. t'i, ..ihn'i 13 4nn commercial banks added an estimated $13.6 billion to their savings and time deposits, raising the total to about $96 billion. The nation's 6,348 savings and loan associaions recorded net savings gains of around $9.3 billion, a 7 per cent increase over 1961a prior rccora nci savings gam, raising ings in these associations to $80.2 billion at year's end. The nation's S12 mutual savings banks added more than $3 billion in deposits during the year, a record that was three-fifths greater than the 1961 gain, railing their total m 141.3 billion. The Trcasurv s sales of E and H bonds during the year amounted to $4 3 billion, 5.7 per cent less than In 1961. t. anine in be more of the same - unless and until the U S. Treasury puts the savings bond backs into the compe tition. support ($149 million) cannot be cut since this would re sult in higher property taxes at tne local level. I will try to keep you posed on our ac tivities in this committee and of the possibilities as they arise. There will be a considerable amount of labor legislation in troduced during this session. There will be two different plans for improving work man's compensation, the old '3-way" bill and the Gov ernor's proposal. There is no question but what we need broader coverage for the working men in Oregon. Both of these bills will be introduced in the Senate. I am hopeful that the commit tee in Labor and Industries can work out a solution to the difference between labor and other employees. Gover nor Hatfield has called for a tightening of the Workmans Compensation laws. This is extremely important if we arc to maintain a sound actuarial basis for unemployment insurance. I would appreciate it if from time to time you would drop me a note giving me the benefit of your thinking on legislation as it arises or ask any question that may occur to you. . . A long, Hard Winter First Week End Without Football Offers Host of Negative Attractions By DICK WEST Washington-IUPD-Now being the winter of our discontent. The last bowl and all-star game, profes s i o n a 1 and c o 1 1 e g i ate, E a s t- W e s t, North - South, fruit, flower, vegetable, fi ber, nut and berry has faded from view. Ahead wt are weeks of bleak Saturday and Sunday afternoons given over to such dismal events as basketball games, bowling matches, golf tournaments and so-called winter sports. I'm trying not to be too emotional about this, but I can hardly control myself. Verily I say that the period between the end of football season and the beginning of baseball season is a television athlete's Valley Forge. The first football-less week end started off more or less painlessly. I bravely emerged from the sack, brushed the sleepy dust out of my eyes and resolutely tacked some odd jobs that I had let accu mulate during the fall and early winter. Come the Doldrums But by mid-afternoon, the doldrums got me. Succumbing to a mixture of nostalgia and habit, I descended to the so called rec room and switched on the set. Two channels filled the screen with elongated citizens dashing about in their under wear. I fiddled with the verti cal adjustment knob for five minutes before I remembered that basketball players look that way in their natural state. Don't get we wrong. I have nothing against basketball for other people. It's just that I'm more stimulated by bas ket weaving. Another channel offered a ghastly panorama of retarded adults all bundled up in their woollies and sliding down hill on their little sleds and things. I can understand how a child of 10 or under might conceivably derive some thrill out of strapping his feet to a couple of boards and skimming round some flag poles, stuck in the snow. Ski Meet Negative But grown men and wom en! Really! For a spectator, a televised ski meet is strictly a negative attraction. The only fun comes when something goes wrong that is, ' when some clown in overstuffed pajamas loses his footing and swan dives Into a snowbank. Even so, it beats a televised bowling match. There is al most no chance that the bowl ing ball will reverse direc tions and score a 10-strike among the players. As things now stand, the only alternative is to watch an old movie. Watching an old movie before midnight is something like keyhole peek ing with a glass eye. It looks like we're In for a long, hard winter. Phone 772-6128 for New York -(UPD- A model of the U.S. pavilion for the 1964 New York World's Fair, larger than a city block and ultra-modern in design, has been unveiled b y architect Charles Luckman. The $17 million structure will be eight stories high with exterior walls made from thousands of vari-colorcd glass pieces re flecting the sun during the day and artificially illuminat ed at night. A 3 An average automobile dis; mantled for scrap yields about 1,500 pounds of iron and" steel, 30 pounds of copper, 6 pounds of aluminum and. about 50 pounds of rubber. . ; RECORD SALE! ?.p!c,At.T. S values to 3 C2f C 1 Hurry! Ends Saturday! EACH TERRIFIC SAVINGS on ALL PHONO'S 1st Floor M --b neaPeteaaBBW MIMHl'lHIfU MEDFORD, OREGON f ' ANNIVERSARY PDiCE Coordinated LIVING OQHfl 3 0 IP LIVABILITY! ' ....the keynote of this modern, S. C fnan r M comfortable 3-pc. living room set. " I f . bleeps 4 Daytime . . . live with the practical fm -'J I f-jr fSgsp X CI -f beauty of coordinated furniture de- , I I J a. O&'f- i LrvCV 1'1 WXV iflned to meet family needs. Night. ft V I " ill f 1PA VNtJ ' 'SV VW---::T4rV U J-'i time ... live with the luxury of an 'I II I HI I VI -ilWNL ' < '? KeA "tra bedroom at the twist of a wrist. mt II I I I fJU 3 r-r jK1 .th. r..fnyd brrrjd . K ''IV - v- ) "Xt, ft; -W' rtij-v y with foam tops, beautiful good quel- II II " I I' I chair with its oversize ottoman con- I I I I I I All 1 T! ' vert in minutes Into beds to sleep I I II II Vy Cl V'- three people. Ollly U U V-X PlCCeS Ccl Don't Forget To Check Our ' 10 Colors to choose from! Shop NOW & Save At Our ONLY STORE-WIDE Sale This Year! You owe it to yourself to check over our Furniture Values during our Mammoth 71st Anniversary Sale now In progress. Discounts from 10 to 50 on all mer chendise with the exception of a few fair trade items. Why don't you drop In todayl : Convenient credit terms arranged with no carrying E5 I charges or interest we carry our own contracts AT WEEK'S & ORR you pay ONLY for the merchandise. TCDIUIC Shop and save at Southern Oregon's oldest and largest ' furniture store. Bargain Window! Just filled with new items. Sensational Values! Sill OPEN FRIDAY NIGHT for your convenience 114 West Main Street Phone 772-9351 1
