In the Day's News
By FRANK JENKINS
tained on one or another of
the petitions.
It seems rather probable
mat mat will happen.
WHAT to do about It?
Well thprp's Hamlsl Iho
MEDFORD MAIL TRIBUNE. MEDFOBD, OREGON
MONDAY. JULY 1, 1963
In Salem the other morn
ing, J. Francyl Howard of Al
bany appeared In the Sec
retary of State's office to file
a preliminary petition to re
fer the 1963 legislature's tax
measure to a vote of the peo
ple. Mr. Howard is president
of an organization known as
the Citizen's Committee for
tconomy and Equitable Taxa
tion.;,; (; - . , . .
Attorney General Thorn,
ton says he will assien a ti.
tie for the referral measure
well within the time limit.
meanwnue, mere are in
dications that another group
plans to file a second Deli-
tion to refer the tax increase
bill. None but Howard's peti
tion, however, had been filed
with the secretary of state as
ims is written.
GO- :
J It looks like a refercri.
oum measure of some sort
will be put before the public.
It's up to the voters, there
fore, to be doing some think
Ing as to how they will vote
on It in the event that 23,.
186 valid signatures are ob-
Your Money's
Worth
1 By SYLVIA PORTER
Copyright, Hall Syndicate. Inc.
tragedies. He was confronted
with quite a problem when
JULY
CLEARANCE
IN EVERY
DEPARTMENT!
BOOKS
STATIONERY
CHINA
CRYSTAL
LAMPS
PICTURES
Melanchnlv Hnnn hern nf thA
most famous of Shakespeare's GHIMMEST U.S. ECONOMIC PROBLEM-PAYMENTS GAP
linn is in iirsi in series es cuiumnij
Around the middle of August, the U.S. Government will
he discovered that Claudius have to publish a bleak report which will dramatize to the
his uncle, and Gertrude his entire world the grimmest economic problem facing our
mother, had been responsible country today.
for the death of his royal fa- This report will disclose that in the first half of 1963 we
ther. . continued to sDend hillinns more abroad than the rest of
in nis famous soliloquy, he the world snent here and the red Ink in our international
said to himself: accounts so far this vpar is much worse than it was in the
same neriod of 1962. Because of the persistent deficits we
uu uk noi to do, that are running year after year in our balance of payments
i. A is the question: foreign creditors are still building up enormous dollar claims
"Whether it is nobler in the against the U.S. which thev can convert into our cold any
mind to suffer time thev wish. The deficits in 1962 and 1961 were lower
The slings and arrows of than in 1960. but despite all our efforts to null our ac-
outrageous tortune. counts nto balance, this year we have fallen back. There
'Or to take arms against l is no way whatsoever to avoid an additional drain on our
a sea of troubles, cold Tcserve, already below $16 billion, the lowest level
Ana Dy opposing end nee 1939
t"6"!. . The ahilitv nt tho IT S In maintain flip stahllitv and in-
tAifpilu nf (ha ftrtllai i n V.Aintt pnnutantlu nnnclinnwl ne
HAMLET, you will remem- result of these trends and the August report could heighten
ber. Went On tO ask him- I .ilarm oi-n..ri0 rrtrnirtn VinlHnra tf rinllnra nnri Hnllnr nhll ixntlnt.!
sen wneiner u is ociier to
endure those ills we have than
fly to others that we know
not of."
He continued
"Thus conscience does make
cowards of us all;
And thus the native hue
of resolution
"Is sicklied o'er with the
pale cast of thought.
And enterprises of great
pith and moment
"With this regard their cur
rents turn awe
And lose the name of ac
tion.
UE CAN ask
IT
along
There it not on word of exaggeration here. There
Isn't one informed individual in government-and this def
initely includes President Kennedy or out of government
who doesn't admit the seriouaneis of the situation. In fi
nancial capitals around the free world, the concern it
equally deep, for the U.S. is banker to the free world, our
dollar is the pivot around which the free world's cur
rencies revolve. This is a story from which you cannot
hide.
In the first quarter of 1963, the deficit in our balance
of payments ran at an annual rate of $3.2 billion, against
an actual deficit of $2.2 billion in 1962. The deficit for the
second quarter, which ended at midnight last night, cannot
be guessed yet but there is no question that it was way
above the SI. 8 billion recorded in the samo period of 1962
In April-June last year, we received a windfall in the form
of a $600 million influx from Canada prior to the financial
AnDt ...t.!U rn.nrl lnol,(i4tnrt nf 41-A Ponalion nlla, Inst
OUrSelVCS, . T , ,; ..mnnli olen rormiri olmnst SI S
With Hamlet, .mlnn ... TT c '-rto,,,Q- 1Q,, Wo Vinuo tnrfivori nn similar
Blown Fuse Seen
Rail Crash Cause
Kenosha, Wis.-HJPMnvesti-
gators believed today a short
circuit in a diesel engine
stalled a freight train on the
main track Saturday and
caused a collision of the Mil
waukee Road's Hiawatha pas
senger train.
All but two of the 61 per
sons injured were released
immediately after hospital
treatment for cuts and bruis
es. The other two persons
were held overnight and re
leased Sunday.
The passenger train, trav
eling 90 miles an hour, slam
med into the caboose of the
six-car freight. The engine
and two baggage cars on the
Hiawatha derailed but ' the
three passenger cars, carry
ing some 11S persons, re
mained upright.
The Interstate Commerce
Commission took over inves
tigation of the crash. It was
reported unofficially a fuse
blew out on the freight diesel
as il was pulling off the main
line to a siding to clear the
way for the scheduled pas
senger train. -. .
The Hiawatha was carrying
scores of persons to the Je
hova's Witness convention in
Milwaukee.
Series of Traffic Accidents Takes Heavy Death Toll
A .5
By United Press International
Eight persons were killed
in a New Jersey bus accident
in the worst of a scries of
week end traffic accidents.
Troops Subject to
West German Court
Frankfurt, Germany - IVPII
American G.I.s and other
Allied troops who commit
crimes In Germany became
subject today to West Ger
man legal jurisdiction.
The change means that
U.S. soldiers stationed in
West Germany can be tried
in West German courts rath
er than by U.S. court martial
as in the past. .
The . new arrangement is
result of a pact that went
into effect today. Though the
pact was signed in August,
1959, after long negotiations,
it was ratified by all coun
tries involved only this
month.
Similar pacts already arc
in force In the other NATO
countries. ., ,
The agreement excludes
West- Berlin which is under
Four-Power Allied control j
out covers servicemen on
leave in West Germany from
the isolated city.
Four persons died in each
of three different accidents.
Six persons lost their lives in
two others.
In the New Jersey accident,
a bus and two cars collided
on rain - swept Route 3 at
Rutherford ear.y Srturday,
The bus was en route from
the Port Authority terminal
in New York City to Pater
son, N. J. Its driver, Wilbur
Parker, 30, had been driving
for the bus lines only two
days.
Sunday morning on Route
15 at Wharton, N. J., two
cars collided, killing four
persons. One car carried sev
en persons and four of them
were killed.
four young people were
killed late Saturday night on
an interstate highway near
Indianapolis, lnd., when their
speeding compact car slam
med against a bridge rail and
ended up in almost unrecog
nizable shape. , ., ,
A pickup truck crashed Into
the rear of a large truck
trailer east of Baker, Calif.,
on "notorious Baker Grade"
Saturday and killed four per
sons. Three members of one fam
ily died in a three-car crash
in Arizona Saturday when
their car apparently crossed
the center line, collided head
on with a second car which
then struck a third auto.
A drag race between two
cars in Chicago's Dan Ryan
Expressway ended in death
for three persons, one an ex
pectant mother. They were
Walter Fleming, 24; Cor Wil
liams, 22; and Mrs. Woods,
22, who was eight months
pregnant.
. Mrs. Woods' husband was
one of the drivers. He was
not hurt. -
SAMBO'S
OPEN
24 HRS.
102S So. Rivtrtido
has been an almost uninterrupted erosion of the U. S. gold
hoard backing the dollar.
Of course, we have been attacking the problem on many
fronts, ranging from drives to expand our exports of goods
to the creation of elaborate technical defenses to curb the
actual drain on our gold hoard. But that mid-August report
still will be starkly bad news.
Next: How did we into this "payments" spot?
LIFE ,
INSURANCE
Something for Thinkers To Think About!
Really now, why not buy reducing farm and
Invest the Difference?
At Aga 30 $1 50 par year buys
40,936
Initial Face Amount, Reducing Monthly re Aga 6S
IF YOU ARE PAYING MORE ...
SEE . . . DICK HOUSE-1 1 Almond Street
Phone 773-6607
Citiieni Life t Caiualty Insurance Co., Lot Angelot, Calif.
17 yeart a licensed agent Specialist in low colt life Insurance
whether It is better. In this
I ihni , (M n. oonanzas mis year
situation that we face, to en
dure those Ills we have than
to fly to others that we know
not of.
Personally, I think we'd
better endure the ills we have thisn,?'"'''
A first central fact is that the red ink Is not due to our
buying more goods abroad than others buy here. On the
contrary, in 1962 our merchandise exports topped our Im
ports by $4.5 billion and we re running a surplus again
5 BONUS
DISCOUNT FOR
CASH
ON SALE ITEMS
(meaning the tax bill enact
ed by. the recent legislature)
than to fly to other ills we
know riot of.
1 1 recent legislature, we stand
a guuu cnuuL-e ui gelling
something worse.
Who knows WHAT
might get in a reshuffle?
Tito Sees Hope
To Ease Tensions
Belgrade, Yugoslavia - iUPU
-President Josip Broz Tito
said Sunday recent statements
RECORDS
TAPE
RECORDERS
PHONOS
HANDBAGS
PLACE MATS
CLOCKS
aHOUSE
HARES CHRISTMAS
ORNAMENTS
Shop
All 3
Floors
SALE ENDS
July 3rd
Use Your
CHARGE PLATE
Hours:
9:30 A.M.
5:30 P.M.
Swem's
217 E. MAIN
MEDFORD
The problem Is due to the fact that we're spending so
much more than our $4.5 billion trade surplus in other areas,
To put it simple and without befuddling statistics, were
running a deficit in our balance of payments, and thus U.S.
If urn .mix rim the lav dollars BnU gOlU Hre Slowing 11UU UIC IlKivvs us umci 1.UUH-
bill that was enacted by the rres ; ,,..,
.defense, economic development and foreign aid abroad,
U.S. firms and individuals are investing billions in plants
and equipment Overseas. U. S. tourists spend more over-
teas than foreign tourists spend here. Foreign borrowers
are coming into the great capital market of the U. S. to
raise funds, arid when U. S. investors buy their new bonds
U. S. dollars go to the foreign countries. Money ii going
abroad as pensions to retired employes living outside our
borders, payments bv U. S. citisens of friends and rela
tives in foreign lands, private charitable contributions
(aueh as CARE). Short-term capital "hot money" it
continuing to go to foreign financial centers where in
terest rates are higher and consequently the money can
earn more.
Since 1950 the U. S. has had a deficit in its balance of
by President Kennedy offer payments in every year except 1957, when the closing of
nope sor decreasing wursa tv,e Suez Canal sharply boosted our exports, ine outcome
tensions.
Tito spoke after the new
five-house Yugoslav parliment
unanimously relected him
president for life if he wishes,
He singled out Kennedy s
June 10 speech at American
University in Washington as
being encouraging tor future
international reations.
"Yugoslav policy is to main
tain good relations with both
East and West," Tito told the
federal assembly. But he cited
Communist China and Alban-
1 ia as exceptions to his nation s
normal or friendly tics with
virtually every country in the
world.
The newly convened parli
ament gave Tito, 71, his
fourth term as president. But
under the new constitution
adonted in April, Tito was ex
cluded from the requirement
that all top offices be roiaiea,
in effect making him presi
dent as long as he likes.
Tito said there were grounds
for hope that the unnea
States, Britain and the Soviet
Union could reach , a nuclear
test ban agreement at - their
scheduled July 15 Moscow
talks.
Quadruplets Born
To Chicago Woman
Chicaeo-IUPI'-The teenaged
wife of a factory worker gave
i.irih tn nuadrunlets Sunday
I The Negro quadruplets, all
oirl were born to Mrs. w
!,., Harris 19. within 10
minutes the first at 11:09
a.m., the last at 11:19. They
were reported In good condi
tion. -
Their weights were 4
pounds 10 ounces, 4-15Vi.
4-14V2, and 4-7, in order of
delivery. They were about
I one month premature.
I Physicians planned to run
tests today to aeiermme
I whether the infants were
I identical. They said the pos
Isibility of identical quadrup
I lets is far less likely than
' the occurrence of quadrup
lets, which is about one in
; inn (inn.
I Mrs. Harris and her hus-
'band, Bernard, 23, a tractor
asscmbyline worker for Inter-
i national , Harvester whose
: take-home pay is $90 a week,
have one other child, Shawn,
15 months
.jr TLi,nk,J'- Jfy wt asm M
t tr.HT IV WEIGHT
If you're allowing yourself
Just 50 calorics at snack time,
the U.S. Department of Agri
culture suggests you have
three apricots rsr two large
plums or one medium orange,
i
, ...but the best thing to take is money!
Like so many other good things, a family
vacation is much more fun when you save for
it in advance and avoid debt. It's all pleas
ure when it's paid for. Plan to make your
next vacation carefree. Open a savings ac
count with us and add to it regularly. Ex
cellent earnings help your savings grow.
Investment made by
the 10th of the month
cams as of the first.
CURRENT DIVIDEND 4Va PER ANNUM
and LOAN ASSOCIATION
201 West 6h
Free Customer Parking In Our lot
Robert F. Kyle, Mgr.
People Like Black Label
even more in the
m IB-OPEN CAMS
Now it's easier than ever to enjoy your Black Label Beer...
especiallyfor picnics and patio parties. No openers needed with
the new TAB-OPEN cans. Just zip the tab to open...tip to pour
...then sip that cool, fl?,orful Black Label Beer. How about it?
Enjoy the premium quality beer that you can buy at the popular
locaf price. Try it in the newest, quick-chilling, zip-opening
cans. Join the friendly call today for... "Mabel, Black Label!"
' ' ' ' V- ,
C"Ar mr; 1 Cartint Srewinj Co.,lneCltvleM,0. flints at Alia
1 l & J Biltimoia. Md.. BalleviMe. IM., Cleveland. 0., Franken
, am., M Jtick, Mss., Tacomt, Wa&h., aad a new plant under cor
nta.Ga.,
kenmuth, Mich
construction in Texas,
i ;, f . " ! -t 411
'''''' ' it
I :'' ': : I j
i : ; . q
' ' ri