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
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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
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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