Your Money's
Worth
By SYIVIA PORTER
Caayrieht, Hall SyndkaM, Ik.
WHAT YOUR SAVINGS CAN EARN YOU
The""upheaval in the savings field in our country -has
reached a point without parallel in our generation. The
relationships between what you can earn in various savings
mediums have turned upside down. The pattern of interest
dividend rates is a crazyquilt, astounding and disturbing
the authorities.
TChe competitive war for your savings is fiercer than
ever.- Money is flowing from one type ot financial institu
tion to another at a roaring pace in response to rate changes.
- It's a pattern no expert dared forecast even a few months
ago. You can earn a dividend ot as much as 5 per cent a
year by putting your money in the West Coast savings and
loan associations which recently hiked their rates to this
new nigh. You have no chance to profit but you take a
minimum risk, need just open an account to get 5 per cent.
; You can earn an average of only 3',3 per cent on a cross
section of industrial corporation stocks. You have a chance to
profit but you definitely take a risk while your savings earn
this much lower average annual return. -
. You can earn 3U per cent a year tax-free on a highest
calibre state or municipal bond - and this tax-free angle
means, that 3U per cent is the equivalent of 6',j per cent
to .the 'investor in the 50 per cent bracket and is worth more
than that. to. a very wealthy individual.
You can earn only 3V par cant on a U. S. savings bond
' and,, than only If you held the bond to maturity in seven
years, nina months. You can earn just a bit over 2'i per
cant if you held the bond a ytar and a half. You alto must
' pax a tax on this intartii. -'.
There are contradictions all over the savings map. While
many savings & loan associations are reducing their dividend
' rates because they can't earn enough on their investments to
cover, the rates- without taking undue risks, the California
associations have gone all out to attract funds via the highest
dividend rates in the country.' While many commercial banks
across the nation still pay only picayune interest on savings
deposits, big-city banks have raised rates as high as 4 per
cent on deposits, left over a year. While financial institution
advertising is traditionally stuffy, many of the ads being
placed and gimmicks being used by supposedly stuffy in
stitutions to pull in funds are pure Madison Avenue.
' . Hera's what your savings can earn now if you put them in:
U. S. Treasury bills due in 90 days: 3 per etni. .These bills
are -about as safe and short-term an investment as you can
make.,' -
- U. S. Treasury bonds due in 20 lo 30 years! 4 par cent-plus.
These bonds fluctuate in price, but if you hold them to ma
turity, you can get that 4 per cent or more a year and on due
date you will be paid back 100 cents on the dollar. -U.
S. Savings Bonds: 34 par cant if held to maturity.
Savings banks: IV to 4'i per cant.
: A savings account in a commercial bank: 3Vi to 4 par
eaht. It was the Fadaral Raserve Board's ruling as of Jan.
. 1. 1JS2, permitting commercial banks to pay up to 3'4 par
cant annually on regular savings accounts and up to 4 par
cant on savings deposits left over a year which triggered
in convulsion in the savings field.
Top-rated mortgages: i'A to i'A par cent.
Highest-grade corporate bonds: 4' to 43t par cant.
Ten-ratail ihunieloal handt! nmr ent liy.frM.
Savings and loan associations: 4' to 5 par cant.
Cross-saction of common stocks: 3'i par cant. This is the
average yield of stocks in the Dow Jones industrial average.
Many popular. stocks return less, many return more.
(.. You, the saver, are in a real buyer's market. As you
accumulate savings, decide what your aim is in investing
and Study this guide on rates to see which medium would be
best for you.,
Fire Protection Dilemma in State Discussed at Lunch
"I do think too much of a
burden is placed on the land
owners." That was the declaration
yesterday of Deputy State
Forester Ed Schroeder who
spoke to Medford Kiwanis
club members on the "fire
protection dilemma in' Ore
gon." Schroeder pointed to forest
fire protection as a basic
thing which is demanded and
costs money but he said peo
ple are not able, or willing
to pay for the protection de
sired. . The deputy forester ex
plained that one-half of the
30 million acres of forest land
in Oregon is protected un
der state statute by the state
department of forestry. This
includes state, county, pri-
SECTiON C
PAGES 1 to 10
Medford
Tribune
MEDFORD. OREGON, THURSDAY, JULY 11, 1963
A
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vate and contracted lands.'
Under the Oregon system
landowners pay for 64 per
cent or more of fire protec
tion that is provided. About
16 per cent of the cost is from
federal funds and 20 per cent
from the State of Oregon,
principally through payment
of salaries. This system is in
contrast to that for the fed
eral forest service which has
its fire protection cost dis
tributed over all the people.
Schroeder remarked that it
is dangerous to compare ac
tion on forest fires by the
amount, color and nature of
equipment used and he de
scribed the financial ' struc
ture of fire protection as a
critical point. He brought out
that the means available for
fighting fires is governed by
3
fry.
r1
COOL. CANINE - Rex, a five-year-old German Shepherd,
knows how to spend a hot day in Austin, Texas. He has
his own swimming pool and uses it frequently, especially
when the temperature soars over the 100 degree mark, as
It did when this picture was made. (UPD
funds available and that ac
tion on a fire is not to. be
measured by. the amount of
effort.
The forestry man said that
Oregon is only state with the
acreage assessment system to
such an extent for paying the
cost of fire protection. He
stated that the system puts a
burden on marginal areas and
discourages the practice-of
forestry and ownership of
private land. ' .
Schroeder reported 69 per
cent of forest fires are man
caused with 36 per cent of
these caused by those who
contribute nothing to fire pro
tection. Through a democratic pro
cess, landowners determine
how much protection they
want, Schroeder reported. He
said that fire protection pro
gram for the 1,730,000 acres
of the southwestern Oregon
district is based on an assess
ment of 16 cents per acre.
Schroeder told Kiwanians
that emergency funds for
fighting fires is limited and
that the timber industry is
the biggest contributor, to
suppression of big fires.
The deputy forester men
tioned the need of more fi
nesse in analysis of this area
to apply protection measures.
He advised criticism of the
system and not of the man of
the local organisation. Fire
fighting ' philosophies of the
state.' and federal forest
agencies are the same but the
means available are different,
Schroeder said.
. Discussing what is
done about the fire protection I
auemma, senroeder spoke of
the concentrated fire preven
tion program but said that
there are still a big percent
age of man-caused fires.
Research in Program
He stated that fire protec
tion program research in
cludes probe of why man
caused fires occur.
A possible solution is "do
ing for yourself - forming
your own protection associa
tion," Schroeder said, re
marking that people are too
willing to let someone else
do the job.
Schroeder reported that
Curtis Nesheim, south west
district warden, already made
"some radical departures we
are looking at." He said, for
one example, that there is no
cook for the fire crews at the
district headquarters this sea-
staggered service during the
day.
Indicating that - others
should share the burden of
fire protection with the land"
owners, Schroeder mentioned
the multiple use benefits ob
tained by people, even though
being son and men are working on land is privately owned.
Schedules Hearing
Salem (LTD The Oregon
Scenic Area Commission will
hold a public hearing here
Tuesday on establishment of
scenic areas along the North.
Santiam highway from Salem
to Sisters.
A. N. Weir, commission
chairman, said the hearing
would be held at 10 a.m. in
room 203 of the Labor and
Industries Building.
Petitions for the area wera
made by the Mill City Garden
and Women's clubs.
T - - "
V7
i. V
scrr.
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. Vienna - W - A Commu
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