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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (May 13, 1963)
MEDFOHD MAIL TRIBUNE. MEDFORD. OREGON MONDAY, MAY 13. 1983 Your Money's Worth By SYLVIA PORTER Copyright, Hall Syndicate, Inc. BANKS BECOMING 'FINANCIAL SUPERMARKETS' A Chicago bank soon will pioneer with a new series for Its individual customers. It will issue a special monthly statement to each customer, detailing all his transactions in each bank depatment on a single sheet of paper; savings, loans, interest, mortgage payments. Only three years ago, other aggressive pioneers intro duced a "bank-at-work" plan which has been so popular that it is now offered by more than 800 U.S. banks. Under this plan a bank sets up racks of deposit slips, loan applica tions, other forms within a company. The company's employ ees need not make any trip to the bank, can instead do all their banking by mail from the campany or home. Also new and thriving is the "paying-agent" service under which a bank takes over all your bill paying. You can authorize the bank to make your regular payments on an auto or home loan, pay your bills for utilities, insurance, local taxes, charge and credit card accounts, etc. - even pay your parking ticket or traffic fines. The bank will manage your savings program too, automatically deduct from your checking account for savings deposits or U.S. savings bonds. A revolution is occurring today in U.S. bank services not only for the big corporation but also for the family and in dividual customer as a result of fierce competition for cus tomers and of new computers hungry for wrok. The com puters, the American Bankers Assn. estimates, are permitting banks to take on more than 100 new jobs. Banks literally are turning into family "financial supermarkets." For instance, a new, spectacular development is the "one-check payroll" system. In this case a company ends to its bank a list of its employees with the amount of salary due each, the individual's withhold ing lax and social security schedules, all other regu lar deductions. The company issues one check each pay period for the entire operation. Then the bank takes over, deposits each employee's check to his ac count ai the bank or to his account at another bank. The employee receives no paycheck - only a stub indi cating the money has been deposited to his account. The company receives a periodic statement showing the cumula tive pay to each employee, his total tax and other deductions. The success of the one-check payroll system in reducing Wl company's payroll departments costs and assisting employ ees has encouraged a few banks to go beyond this to "no check payroll" system. Payroll funds are simply deducted by the bank from a company's account and credited directly to each employee. Thus payday becomes just a papcrwork or computer - transaction. Another development is tailoring services for specific occupation groups. As an illustration, under one service tailored for physicians - nortoriously poor bookkeepers a bank gives the doctor a sheaf of punched cards and a special telephone hookup to the bank. At the end of each day, the physician's office feeds to the bank the punched cards for all patients seen that day showing the fees to be charged. T'e bank then bills each patient, deposits the funds collect ed to the doctor's account. Other banks have elaborate "secretarial service" to pamper businessmen. The secretarial service pays your bills - including the maid's salary while you're away - also fills out your tax forms, gives advice on investments, makes travel arrangements and reserva tions. Dozens of banks have set up travel bureaus for their clients and one- Southern bank even runs its own tours each year. Where will this revolution in service lead? Banks of the future, the ABA says, could become all-purpose, cradle-to-grave bookkeepers - receiving our incomes, paying our bills, allocating funds to various members of the family, earmark ing monny for special occasions, managing the savings nest-egg. Obsolete would be the personal checking system and the family budget - backbone of banking today. At the speed banks are now adding to their services, this is not nearly as far-fetched as it may seem. Ashland Students Receive Scholarships Asniana-scnoiarsnips nave Kmti umn hv R nt t V Martin. daughter of Mr. and Mrs. Clif ford G. McLean, in Atmon St., and Jane Hennick, daugh ter nt Mr anj Mrs .1 P Hen. nick, 1523 Ashland Mine rd., both Ashland Hign scnoot seniors. The scholarships are for four years at an Oregon uni versity or college of each stu dent's choice. Tlipro havp hpAn 12fl Rllph scholarships awarded in the state. Potential of Forest Products Industry Noted Grants Pass The forest products industry represents a vast potential of expansion for Oregon, according to Louis P. Growney, who is with the industrial develop ment department, Pacific Power and Light company, Portland. The speaker urged those attending the Grants Pass meeting of the Southern Ore gon Conservation and Tree Farm association Friday night to take a positive approach as individual salesmen in ex pounding opportunities for in dustrial development in Ore gon. More and more finished products need fabrication in Oregon instead of shipment in their raw state to other markets for manufacture, Growney added. Outlining the advantages of Oregon, the industrial engine er noted aboundant water, vast stands of public and private timber of top quality, research facilities and trans portation. Tax Climate Oregon's tax climate Is also conductive to development, Growney said, despite some opinions to the contrary. It is based on a philosophy of fiscal responsibility, he said. Frank Benesh, Mcdford, PP&L district manager, intro duced Growney and noted that before becoming associat ed with PP&L, Growney was employed in industrial de velopment for the Portland Chamber of Commerce and by the Chicago and Great West ern railroad. Darrell Davis. Medford, SOCTFA president, echoed the optimism of the speaker and predicted a bright future for Jackson and Josephine counties if community lead ers recognize the potential available in the basic indus try . . . the forest products industry. STATUS SYMBOL There are two kinds of status symbols. One type has to do solely with financial sta tus: certain makes of cars, mink coats, di amond tiaras and ocean-going yachts. The other kind the kind we respect deals with achievement; things like a de gree from a good school, the work of men like the Wright Brothers, Edison and Salk, the heroic acts of our men in uniform. To become and to remain a member of the Order of the Golden Rule is a status sym bol of the second kind. That's why we are truly and pardonably proud to announce that we remain the member of the Order in this community. PERL FUNERAL HOME Corner Sixth and Oakdale Spacious Parking lot M&mJ We proudly respond to ill cilli, day or night. international Copper Fibers Dumped in Space From Satellite Washington - IUPD - Millions of tiny copper fibers were beginning to disperse in a po lar orbit around the earth to day as part of a controversial Air Force communications experiment. The Air Force anounced Sunday that a canister con taining the 400 million needles called dipole were dumped from a satellite launched Thursday from Point Arguel lo, Calif. Radar sightings show the fibers, each about one-third the diameter of a human hair, are beginning to spread. They are expected to fan out into a narrow ring about the eartn taking several months to com plete the circle 40,000 miles in circumference and about 2, 000 miles hifh. To Bounce Signals The belt will be used to bounce radio signals back to earth over great distances. The Air Force said the dipole belt is practically invulnera ble to physical damage and is especially useful in long-distance microwave communica tions. Some scientists have oppos ed the experiment saying it would clutter space with trash and impair observations of the stars and planets with telescopes. Astronomers also fear the fibers might reflect back to earth a confusing jumble of radio signals that ordinarily might pass into space. Dubbed the West Ford Proj ect, the experiment is being conducted for the Air Force by the Lincoln Laboratory of the Massachusetts Institute of Technology. Data Distributed Information on the experi ment is being distributed in ternationally to help world optical and radio astronomers in making independent obser yat.ons. The Air Force said it hoped some observations could be made of the needles by a worldwide camera net work operated by the Smith sonian Astrophysical Observa tory. The Air Force previously tried a similar experiment us ing 75 pounds of the needles but was unsuccessful when they apparently failed to spread into orbit. Fifty pounds were used in the new experiment. The dipole fibers are ex pected to disappear within five years as radiation pres sure from sunlight forces them down into altitudes of greater atmospheric density where they will burn up. 3,675 People Visit Museum in April Jacksonville - Visitation of the Jacksonville Museum dur ing April totaled 3.675, bring ing the total attendance since opening of the Museum in 1950 to 521.517, Miss Mary Hanley, curator, has reported. There were 447 students from McLoughlin and Hed- rick Junior High schools, Med ford; South Junior High school, Grants Pass; and grade school children from Selma, Kerby, Rogue River and Mur phy included in the total. Guests registered from 36 states and Canada, West Ger many, France, Spain and Aus tralia. Among gifts received bv the museum during April is a brass Chinese ceremonial vessel, found in the vicinity of Jacksonville's Chinatown many years ago. It was re ceived from Mrs. L. D. Ins- keep, Medford. I A vase of vaseline glass, made by Vinzctti Brothers in Italy more than 100 years ago and brought to Oregon from England by his grandparents was presented the museum by Lewis O. Parker, Medford. 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Room Deodorizers 7wiI.ryC,n 29c Ice Cream Snider-i : Half Gal. 45c Cottage Cheese Oregon Brand Pint 25c Peaches 4 89c EggS Strictly Irresh Dozen 37C SaUd Oil Western Chef Quart 39C Tomato Sauce Arg sot. in5c f dS.,- Peas 15c Del Monte Garden 303 Tin TASTEWELl - 303 Tin Pickled Sliced Beets 6 (- 99c fVf faA KorV' vunvg Drip or Regular Nelson Attending National Y Council Robert E. Nelson, Ncely Nelson Wholesale Lumber company, Medford, has been elected as one of 1 1 delegates , from the northwestern area to the National Council of j YMCA's of North America. ! The national council met I in Cleveland, Ohio. Nelson has served as a ! YMCA director for four years and is a past president. Nelson left for Cleveland ! May 9 and will visit several i YMCA's to obtain Information on operational procedures. Nelson Is the first national council delegate elected from the Medford YMCA In Its 15 years' history. 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