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.
FREE TO EVERYONE ...OUR ALL NEW
mmEimmmm
DOESN'T COST A PENNY TO PARTICIPATE
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THtt I YOU RICOMD OF PURCHAHI i 1
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Carload Flour Sale
79
Red Rose Brand, Family
Tested Enriched 10-lb.
All Purpose ' Bag
Hacienda Brand
Bleached Flour
10-lb.
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.
Now Many Wear
FALSE TEETH
With Mort Comfort
rASTF.ETH. ft plMMtit alkntln
fnon-iridi powder, holds fslw
more firmly To eat ttid talk in more
comfort. Jut sprinkle ft little rAS
TEETH on your platea. No gummy,
gooey, putty tet or frrllntT Check!
"piaM Aot" (denture breath). Get
FAiJTtlvTH m any drug cmintr.
AMI
SHANK END
Midway U
Meaf Co.
WHOLE HAM
Completely Lb.
Tenderized
BUTT HALF
Lb.
I (Eft
45
39c
I
PorterHouseSteaks98
SIRLOIN STEAKS 89S
BAYER ASPIRIN
Bottle of 100 Tabs.
Reg.
79e
SQL
LUSTRE-CREME
SHAMPOO
Giant 10'4-oz. Family Size
Reg.
$2.00
LAWN RAKE
Fan Rake
lS6c
"WW.
Metal Fan Rake
Durable
Long-
lasting C0r ea.
LETTOJCE
5 a
v..
Crisp, Large,
Green Heads
RED LEAF or ROMAIIIE 2.25c
ZUCHINNI SQUASH 19c
Prices Effective
Through
Wednesday
O
We Reserve
The Right
To Limit
Quantities
Westgate Bakery
MAPLE
BARS
Applesauce Cup Cakes 6 - 29c
Sour-Dough French 27c
IT I
My
MEDFORD-Westgate Center
VVyCXO V MEDFORD-13rh and Central
I if yif ASHLAND-Gateway Shop. Center
I II J mj MmJrt w ,ur" Th Rih' T Llml1
I y Jr JyA J Mil i lflH '" Wedneidiy, Miy 15th