Medford mail tribune. (Medford, Or.) 1909-1989, May 27, 1963, Image 6

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Medford mail tribune., May 27, 1963, Image 6

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Newspaper Page Text(I MONDAY, MAY 27, 1S63 MEDFORD MAIL TRIBUNE. MEDFORD, OREGON Dennis the Menace ...M'trmiA07:M'ML i com see was SM!P...fiu'r UP AWH....M' C4Cr&SM :... Your Money's Worth By SYLVIA PORTER Copyright, Hall Syndicate, Inc. SOCIAL SECURITY SYSTEM COMING OUT OF RED , Tor the fifth year out of the past six, the Social Security trust fund will close this fiscal year in the red - will have by June 30 paid out more in benefits and for administrative expenses than it will have collected from taxes and interest on its investments. The giant Social Security System, to which 75 million of us are now contributing, had a reserve fund ol $23 billion at the end of the 1957 fiscal year. Then the drain began, in terrupted only by a tiny increase in 1961. The reserve fund is now under $18 billion. In fiscal 1962, for instance, the fund (official title "Old Age and Survivors Insurance Trust Fund" or OASI) received $11,985 billion from our contributions and interests on invest ments. It disbursed $13,259 billion for benefits, administra tive expenses and transfers. The net loss was almost $1.3 bil lion. An official estimate earlier this year put the 1903 net loss at over $700 million. Does this record of red Ink mean that our Sociul Security System is, as many critics suggest, financially unuuml? No! The program is sound If total benefits to be paid plus administrative expenses can reasonably be expected to equal, over the long run, Income from social security taxes and interest earned on trust fund investments. By this definition the program is sound. Authorltatlv estimate indicate that the years of red Ink for the OASI lund will end with this one. Beginning in fiscal 1964 the trustees of the fund estimate the fund will go back into the black, and they proct that during the next lour fiscal years the fund's Income will top its outgo by a comfortable margin of more than $3.1 billion. The fund will go Into the black again despite the fact (hut benefit payments will be mounting sharply from $13.8 billion this year to almost $16.7 billion In fiscal 1967. Benefits have been extended and the number of beneficiaries under the pro gram is constantly rising. It will go into the black because the number of us paying taxes will Increase from 75 million now to around 80.6 mil lion In 1967, our taxable earnings will be climbing too and social security tax rates also are slated to go up. Tlie part of the program which will continue in the red Is the comparatively small Disability Insurance Trust Fund. This deficit can be easily taken care of by allocating to this fund a minor part of the next increase In social security taxes, now scheduled for 1966. The significant point is that every study concludes that the Social Security system is In close actuarial balance. As Its board of trustees put it to Congress In Us 23rd annual report this winter, "The system will have sufficient Income from contributions (based on the tax schedule now in the law) ajid from interest earned on Investments to meet benefit payments and administrative expenses Indefinitely into the long-range future." The trustees of the Social Security funds are Secre tary of the Treasury Dillon, Secretary of Labor Wirts, Secretary of Heelth, Education and Welfare Celobreiso and Commissioner of Social Security Ball - men who would hardly lend their names to a whitewash job. Equally reassuring was a report issued in January 1059 by the "Advisory Council on Social Security Fnanclng," a group of the nation's most distinguished actuaries, econo mists, bankers and businessmen - all outside the government. This was at the time when the old agc fund was sinking deeply into the red and alarm was widespread. As "The Major Finding," the Advisory Council reported, "The method of financing the old-age, survivors and disability Insurance program is sound, and, based on the best estimates available, the contribution schedule now in the law makes adequate provisions for meeting both short-range and long range costs." As long as either fund remains in the red, scare rumors will circulate about Hie financial unsoundness of the system. The rumors are false. As long as Congress continues to raise benefits and taxes under the system, scare rumors will circu late that the system must collapse. These rumors also are false. Lamb, Pennington Introduced as Top Ashland Students Ashland - Jim Lamb and Craig Pennington have spent four years in ncck-and-neck friendly competition as class mates at Ashland High school so it was no surprise when they were Introduced at the annual awards assembly last week as valedictorian and sal utatorian of the 1963 gradu ating class. Lamb, son of Mr. and Mrs. R. Drew Lamb, 634 Iowa St., has an impressive record which has earned for him a Stanford university scholar ship. He won the outstanding English student award and the Bauoch and Lomb honor ary science award. lie attend ed the Junior Engineers and Scientists Institute at Oregon State university; was a can didate for the American Field Service foreign exchange pro gram; won Time magazine current affairs contest, and placed second in the Elks scholarship contest. Lamb earned first place tie ill the Future Engineers of America Mathematics contest and when a junior placed third in the Mathematics As sociation of America compe tition and the next year tied for second place. He has been a member and officer of the National Honor Society. Starred in Basketball In addition to his scholastic achievements young Lamb has starred in both varsity bas ketball and track. He has been a member of the school band and the dance band as well as the city band and for four summers attended the Siskiyou Band Camp. He has been active in for ensics, having been a member of the debate team. He was a member of the Interclub Council, a member of the Let tcrmcn's club, the Humanities Seminar and the Able and Gifted classes. Pennington, the oldest son of Dr. and Mrs. Lloyd Pen nington. 932 Walker ave., also won a Stanford scholarship; He served as junior class president; sophomore class vice president; was Ameri cans Abroad finalist; was stu dent representative on the American Field Service com mittee; has served on junior and senior play staffs and been a member of the debate club, the National Honor So ciety, the Humanities Semi nar, and the Able and Gifted classes. Pennington tied for first place in the Future Engineers of America Mathematics con test; placed second in debate at the Marshficld Invitational tournament; won first place in the Elks leadership and schol arship contests and was sec ond place winner In the Time magazine current affairs con test. He took first locally in the Mathematics Association of America competition. Mem bership in the Chess and Sci ence clubs are among some of his other activities. Wins Math Award At the assembly, anounce ment was made that Penning ton had won the year's math ematics award, and Lamb had been named the outstanding science student. Dianne Wil liams and Tim Thompson won the chemistry awards. Students were given recog nition for scholarship, serv ice club work, music and ath letic honors ani pw student body officers were inducted ih mmiiiff vear. Succeed ing Mike Cotton as. student body president is Connie Fell ger. Twenty-three members of the 1963 graduating class have received college scholarships. They are Lonna Baize, Carol Bjork, Linda Bowen, Billie Collins, Sandra Hamilton, Carolyn Harmon, Alice Hcam, Jane Hennick, Charles Hille stad, Carol Ann James, Jim Lamb, Kay Lamica, Barbara Lawrence, Greg Lindley, Bet tv Marton. Carol Mattey, Kay Moore, Annette Munson, Craig rennington, Paula prescou, Sharon Roderick, Steve Watts and Mary Paul Workman. Burial Insurance Pays $1000 Cash j. . . You may be Qualified fo( $l,uuu nte insurance . . . you will not burden your lovej ones with funeral and other exi penses. This NEW policy Is espei cially helpful to those between 4j and 90. No medical examination necessary. i OLD LINE LEGAL RESERVE I LIFE INSURANCE , . . No agent will call on you; Free information, no obligation Tear out this ad right now . , i Send your name, address and year f birth to: Central Security Lite) Insurance Co., Dept. H-785, Ulg West Rosedale, Fort Worth 4j Texas. J fVf: 'JSr-'-'V ii . " J 1 tt - lf J 22 LBS. J pV":f ? 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DISHWASHER Unique 3-level washing action does the whole job including pots and pans without pre-scraping or hand rinsing and "leaves mom" free for the mother-jobs a machine can't do. HAPCO has a dishwasher for every kitchen and budget. Mobil Maid needs no installation, rolls on wheels, and gives sparkling results. Remember the more your family needs mother, the more you need a G-E dishwasher. ONLY $ - si 11 ...n-p- -, it m ! NEVER HAVE PRICES BEEN LOWER AT HAPCO! COME IN NOW AND LOOK OVER OUR TERRIFIC SELECTION OF ALL TYPES OF APPLIANCES. HURRY-SALE ENDS SATURDAY JUNE 1. YOU'LL FIND SAVINGS, QUALITY & SERVICE AT HAPCO. JUST LOOK AT THESE VALUES-LIMITED SUPPLY! YERS AS LOW AS Gigantic HAPCO Trade-Ins Too! - -ni!''"'i"iii " ' in SAVE NOW! PRICES CUT AS LOW AS THEY CAN BE! General Electric Color TV Model M930XEB Capture all the excitement of the spring shows with a color TV set of your own. Priced to sell ! See the ultra-color TV and other beautiful models at your HAPCO store. Big, bright, alive color. Wide range speakers, fine furniture styling. See them all at HAPCO. r 1 'K " i : o 115 EAST MAIN-Medford There Is Nothing "Just as Good" as General Electric or as Good as Your Dependable Dealer LOWEST PRICE YET! Regular Price $549.95 WHAT A PRICE 7 With Trade. um h b r it ili a 11111111 iiitTiiiiiii v w mm cm m MEDFORD MAIL TRIBUNE. MEDFORD, OREGON MONDAY, MAY 27. K61 Today's practice of tipping lair with gold or silver ac cents is an ancient art. Baby lonian kings sprinkled their beards and heads with gold particles. Robertson School of Business 40 No. Riverside 773-4264 classes begin July 8 or Sept. 30 'awaits I YOU! So you graduate in June! What then? Did you know that over 1 ,000,000 young men and women cannot get employment? The Secretary of Labor calls it an "emerg ency crisis" for the young. The "educationally handi capped" are hardest hit. If you have an ability which em ployers want, you will avoid the preb'em. A job awaits y.u if you become a Secretary, Account ant, Stenographer, or Junior Executive. Training takes 2 years or less. Write now for full informa tion. Don't join the jobless in June and don't settle for a job with no future. Bucket Brigade Douses EP Fire Eagle Point Fire broke out in a residence across the street from Hal's Sporting Goods store on Highway 62 near the Junction with High way 234 Saturday morning. Residents formed a bucket brigade and had the fire out before firemen arrived, how ever. A truck from the Cen tral Point rural fire district responded on a mutual aid call from the State Forestry department. Damage was confined to part of one wall and the ceil ing of the residence. THE WEEK IN CALIFORNIA A 7 Brown Discusses No Tax1 Plan With Republican Legislators By United Press International Gov. Edmund O. Brown and Republican leg is 1 a t o r s were nose to - nose over Brown's plan to balance the 1963-64 budget by speeding up tax collections and so far no one was blinking. Brown revealed he had called two Republican leaders into his office late last week to discuss his "no tax'1 plan, later released a sharply word ed statement in which he said he would not be "blackmail ed" into raising taxes. Brown's tax plan, he has said, must pass the legislature or new taxes would be need ed. Brown disclosed also that he had hosted a group of Re publican Assemblymen in the Governor's mansion Wednes day, the night before the GOP caucus in the lower house took an unflinching stand against his tax plan. Adopt Resolution The caucus adopted a reso lution stating the party's "un alterable opposition to any withholding tax program re gardless of 'forgiveness' and commits Assembly R e publi cans to vote against the bud get until the Governor's with holding proposal is defeated, or if already passed, until it is vetoed or revealed." Republicans Charles J. Con rad, Sherman Oaks, the mi nority .floor leader in the As sembly, and GOP caucus chairman Don Mulford, Pied mont, said "the charge of 'blackmail' by the Governor is ridiculous," and added, "we categorically reject any thinly veiled attempt by the Gover nor to transfer the responsi bility for new taxes next year on the Republican party, which has been fighting with a small minority in both houses, to stop this wholesafc .spending program." The Republicans stood their ground in the Assembly but their lack of numbers gave Brown a victory in its first lower house test when a bill was approved to accelerate collection of gross insurance premium taxes. It was a straight party-line vote, 43 Democrats for, 17 Republicans against. Elsewhere, there were these developments: Cen.or.hipi Dr. Max Raffer ty got into the fight over the MODEL M 200 G.E. TV .Yours for the carrying This exciting break through in portable TVs Is yours now at all-time low price. Big 19" Daylight Blue Tube. Full Power Transformer and compeltely portable, of course. HAPCO'S LOWEST PRICE EVER! s less Trade Reg. S10 STAND NOW ONLY $2.77 r. ALL G.E. RANGES PRICED TO SELL V A GE FREEZERS The Freezer Season Is Here! Are You Ready? SEE THE G.E. FREEZERS PRICED TO SELL NOW! SERVICE "IS A BUY-WORD" GE AIR CONDITIONING Don't "simmer" this summerl Whatever your individual requirements, tire is a General Electric room air conditioner designed specifically for the job. For true, balanced living comfort your G-E air conditioner will (1) cool your home, (2) provide clean air as well as cool dry air, (3):provides crispness that makes you feel like doing more, and (4) is acoustically engineered for quiet operation. 95 LESS CAL-ORE $30.00 BONUS. I Rust Prool Aluminum Outside Panel PRICED AS 10W AS... 229s TP Beat the Heat This Summer with a General Electric Air Conditioner Model TB-304-X G.E. REFRIGERATOR Freezer Top wtih big capacity. Food is fresh and crisp in this Big Refrigerator. All the conveniences you find in a G.E. model and now priced to sell. NOW ONLY W Smooth, Ultra-Quiet G-E Rotary Compressor Special Gaskets Prevent Air Leaks" Heavy Gauge Sleel Cabinet . . . How-coated baked enamel finish ."llticient Beat Transfer" - surfaces Weaiher-Prolecled Pectrical Components Concealed Cord Storage i Concealed. Positive-1 '-Action Controls I ,LM Vt.il Installation Flexibility No Side Vents TERMS OF COURSE xjj&-'I5feiI,. "Dictionary of American Slang," which has been charged with being obscene by at least one Assemblyman, whose efforts to obtain a copy from a high school library caused an uproar recently. Rafferty said, "a little bit of censorship" might be neces sary on California's school li brary shelves. He said he was referring to the controversial dictionary, which he said should have been entitled "Dictionary of American Slang and Obscenity," and "Tropic of Cancer" and "La dy Chalterly's Lover." He said he would suggest next fall that these be removed from school shelves. Rafferty's "little bit of cen sorship" statement prompted Assembly Speaker Jesse M. Unruh (D-Los Angeles) to comment: "a little bit of cen sorship is like being a little bit pregnant, I don't know if Its possible. I'm not greatly concerned with the book (Dic tionary of American Slang) except that I wonder if this will be the last one or only the first that Rafferty will at tack." Arrest: The arrest of the Ar gentine Consul by a San Fran cisco traffic cop - he refused to sign a ticket for running a stop sign - caused an uproar in local diplomatic circles. The Dean of the San Fran cisco Consular Corps, Vene zuelan consul general Fernan- Lopez Contreras, said "this is not the first incident." He said the corps would have to sit down with police and draft a set of regulations governing their relations. The policeman pulled his gun on consul D. Jorge Diego Avellaneda when Avcllaneda presented his diplomatic iden tification as his reason for re fusing to sign the ticket. After his arrest, he decided to sign the ticket. Contreras said sign ed treaties prohibited the con suls from appearing in any court except on a felony. Union: The California Su preme Court overturned a long-held rule and gave in corporated unions the right to sue for damages. The court said unions should be permit ted to file suits because recent cases made It possible for unions themselves to be sued. The court said old rules re flected "an age when a labor union occupied a doubtful le gal status" but that now "the trade union has grown from the early loose craft union into an institution compara ble to a corporation or public utility." The decision cleared the way for a building serv ice union to tile a $30,000 li bel suit against the Sanitar ium Association of California, Inc., Los Angeles. Insurance Two California insurance companies, whose chief executive officer is former Gov, Goodwin J. Knight, were sold last week because of financial difficul ties of an Illinois insurance firm. But California Insur ance Commissioner F. Britton McConnell said the two Cali fornia companies were in sol vent condition, and that the financial difficulties of the Illinois firm did not affect the two firms, Cosmopolitan Life Insurance Co., and Cosmo politan Insurance Exchange. Knight was retained as chief executive officer in the sale, which was made by a holding company of the Illi nois firm in the interest of stockholders of the Illinois firm. Promt President Kennedy offered to postpone a $1,000-a-plate Democratic fund rais ing dinner so students of John Burroughs High school in Burbank could hold their long-awaited junior prom. It was discovered that both State Democrats and the stu dents had rented the sarr.2 banquet room in the Hilton hotel in Los Angeles for the night of June 7. The matter came up at Kennedy's press conference. After top level Juggling of arrangements, both events were scheduled to go ahead as planned. The students will have their prom, as scheduled, in the Grand Ballroom and the President will have dinner in one of two other ballrooms rented by Democrats. Subscribers To report Improper or non- ' delivery of the Mall Tribune in ( Med ford, phone 772-8141; Ah- . land call at 416 Bridge it. or phone 4B2-3002; Yreka, phone. I Victory 2-2H0B before 6:45 p.m. dally and 10:30 a.m. Sunday. l regular delivery arrives 1 hortly after you call please I notify office, thui eliminating I peclal mesienger Bervice. Need vacation money? Rotator Air Directors Positive Close ir Eichanger Dampef No Back Drafts Sturdy. High-Impact Polystyrene Grille v Easily Accessible Washable Air Filter (Model R1301A llluitr.l.d) SATURDAY, JUNE 1 - HURRY oc 115 EAST MAIN-Medford There Is Nothing "Just as Good" as General Electric or as Good as Your Dependable Dealer exsssa mm Get an HFC Traveloan Wishing won't take you places ... but an HFC Traveloan will! So take that vacation now. Borrow confidently-repay sensibly. Phone or come in. Thit tobt howi tomph loan poni. You con bor row any amount up to $1500 and arrange monthly pojrmtnfi fo fit your need. MONTHLY PAVMINT PIANI T,W 24 30 13 6 ty,!m,t tm,t Nywfi psmti $100 $ 6.90 $ 6.72 $10.05 $18.46 200 11.81 J3.44 20.09 H6.92 300 17.71 20.16 30.14 55.38 500 28.86 32.97 49.64 91.66 1000 53.89 62.21 95.64 179.56 IMP 77.87 90.38 140.57 66.36 Haujihold t kat t monihh f of J IM ft tif haUmtt n4 wtfiaf I IOO. i a IM PH UUn in 0 $WO but Ml tMf4it tiOO. and 1 ami rmatm4. HOUSEHO FINANCE 128 Eait Main St., 2nd Floor Phonct 773-5301 Hour Mm. rhr. TW. ID li 5:30 FH. It M J t. It