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ia'-ft 'Af''il Z V "ll ) I WOULDN'T DARE (
SiTfclS 1 ':'aV ifflnmrX L Y CALL MY REGULAR
American Lumber
Industry Enjoying
Sound Conditions
By A. ROBERT SMITH
Mail Tribune
Washington Correspondent
WASHINGTON - The Ameri
can lumber industry is enjoy
ing financially sound conditions
alter the sec-
; ond most pros-
; perous year
I since 1957, ac
! cording to an
I analysis of the
I i n d u s try by
j Dun ana tsraa
k1 s t r e e t. The
New York firm
analyzed t h e
year end finan-
statements from a cross-
section of 75 lumber companies
whose tangible net worth, with
few exceptions, exceeded $100,
000. "Despite mixed feelings from
different geographical areas re
garding increased profit squeez
es, the lumber industry enjoyed
its second most prosperous year
since 1957," the report stated.
"The concerns studied showed
a median net profit ratio on
sales of 3.88 per cent, just be-
smith
cial
The Peak l of (Quality
i 1 1
Nobody but NOCONA gives you as much
quality in boots . . . top quality materials . . .
top styling . . . and
T7 T I Jackson County Federal
II (I IH I Savings & Loan Assn.
II V .11 I Horn. OHit . ' OHic
II Ml JL I 2 l, Mi.ii 137 Cm Main
I Medterd AiMand, Ora.
I I
Time"
-
But-let it not be said that we
is idle-nou'd 6e surprised at the
early-morning caroace trade
he's developing
low the 1959 six-year high of
4 per cent."
"The median profit ratios on
both net worth of 8.27 per cent,
and working capital of 17.37
per cent, showed considerable
improvement over 1961 and were
above the five-year average me
dian ratios from 1957 to 1961,
said Dun and Bradstreet.
Weyerhaeuser in Front
The report ranked Weyer
haeuser Co. well out in front
among the leaders with a $39
million profit on sales of $543.1
million. Next it listed Georgia
Pacific with $19.1 million in
profits on sales of $324.9 mil
lion. United States Plywood fol
lowed with $12 million in prof
its on sales of $301.8 million.
In commenting on the condi
tion of these and other industry
leaders, the report stated:
"While important concerns in
the lumber industry had im
proved sales in 1S62, tighter
competition recorded mixed
profit pictures."
For the industry as a whole
the report said that during 1962
"sales increased, financial con
ditions remained sound and net
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skilled craftsmanship.
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profits appeared good."
The report showed that, nev
ertheless, 163 lumber manufac
turers failed last year with to
tal liabilities of $13,182,000.
"The number of failures was
the lowest since 1956 when 162
failed with liabilities of $9,744,
000. Since 1949 the number of
failures has fluctuated but a
generally high level has pre
dominated," said the report.
According to Dun and Brad-
street tabulation, the number
of failures increased annually
through the 1950s, reached a
peak in 1959 when 257 firms
folded, and has shown signs of
receding since then. On the
rising side of this graph, 94
firms failed in 1953, 103 in 1954,
118 in 1955, 162 in 1956, and 255
in each of 1957 and 1958. After
the 1959 peak of 257, failures
dropped to 237 in 1960, to 194 in
1961 and to 163 last year.
The report said these figures
included those firms that ceased
operations following assignment
or bankruptcy, ceased with
loss to creditors after such ac
tions as foreclosures or attach
ment, voluntarily withdrew
leaving unpaid obligations or
voluntarily compromised with
creditors, or were involved in
court actions such as receiver
ship, reorganization or arrange
ment.
Attributed to Strike
As for 1963, the report noted
that "orders and shipments
have trailed last year s rate,"
a condition it attributed in part
to the lone lumber strike ear
lier this year. It also said the
full effect of last year s devas-
tating windstorm in the Pacific
Northwest, which downed 11
billion board feet of timber,
"is still to be determined" as
far as prices and sales are con
cerned. Dun and Bradstreet took note
of the Northwest lumber com
plaint against increased Cana
dian imports but offered no
analysis of this on the domestic
market. However, it attributed
the generally good year for the
industry to the expansive con
struction which the country ex
perienced last year. It said:
"Lumber consumption rose to
38.6 billion board feet in 1962
as government and private in-
Jackson
MKDKOHU
Western Lane
Road To Coast
Given Approval
What threatened at one time
to be a major controversy be
tween various levels of govern
ment and perhaps between var
ious agencies of the f ederal
government appeared to be fi
nally resolved. The result should
be, in about a year, a road in
Western Lane county, leading to
one of the most scenic of the
still inaccessible beach areas of
the Oregon Coast.
Congressman Robert B. Dun
can tD-Ure.) was notitiea Dy
Bureau of Land Management
Director Charles Stoddard that
arrangements are now complete
to construct a five - mile road
from Florence to the south jetty
of the Siuslaw river. The road
would cross a portion of the pro
posed Oregon Dunes National
Seashore, as set forth in legis
lation introduced by Congress
man Duncan (H. R. 5186).
Funds From O & C
Funds for the road construc
tion, according to Stoddard,
would come from Oregon and
California revested rail road
grant land timber sales reve
nues. Construction would take
place in fiscal 1965 which begins
July 1, 1964. Exact cost of the
road has not yet been deter
mined. Agreements on rights of way
for such a road were arrived at
following a negotiating session
in Eugene last May 20, attended
bv representatives of Congress
man Duncan, the Forest Serv
ice, the Corps of Engineers, the
National Park Service, Lane
county, the City of Florence and
the Siuslaw Port Commission,
and presided over by Russell
Gettv. Portland regional direct
or for the Bureau of Land Man
agement. After an initial penod
of misunderstanding between lo
cal people and the Bureau ot
Land Management, the project
has proceeded harmoniously,
according to Duncan.
Officials Commended
"I think that officials of all
these groups, and Getty in par
ticular, should be commended,"
Duncan said, "for their spirit of
cooperation and public service
in coming to a prompt agree
ment on the construction of
this road, which is important as
a major step toward establish
ing the south beach and jetty
area of the Siuslaw as a recre
ational developm e n t. We've
proved again that the Federal
government is responsive to ine
wishes of the people and I am
proud to have played a part."
Duncan said he saw no reason
why construction of the new
route should be delayed pending
Congressional action on the pro
posed Dunes National Park,
since the area should be devel
oped for recreational purposes
regardless of the final decision
on the park.
terests spent $61.1 billion on
commercial structures, facto
ries, utilities, new homes, of
fice buildings and highways . . .
Encouraging new construction
expenditures were the availa
bility of mortgage financing at
favorable rates for new housing,
population growth, replacement
of substandard units and repair
and alteration of older hous
ing." Serving
and Josephine Counties
MAIL TRIBUNE, MEDKORD.
Hoyt Describes Tax
As Best Could Be Accomplished
A member of the Oregon
House of Representatives Taxa
tion committee Monday describ
ed the $60 million taxincrease
bill passed by the last legisla
ture as "the best that could be
accomplished."
Addressing a joint meeting ot
the Jackson County Republican
Women s Federation and the
Medford Chamber of Commerce
Roundtable at North's Chuck
Wagon, Dick Hoyt (R-Benton)
cautioned that "if the bill is de
feated, the whole stale and ed
ucation in particular will suf
fer."
Hoyt, a Corvallis businessman
and a veteran of three sessions
of the state legislature, was in
troduced to the group of over
150 persons, by Mrs. Evelyn
Nye, former representative
from Jackson county.
Encounter Confusion
The speaker said he had en
countered "a lot of confusion"
about the proposed tax increase,
particularly among signers of
the referendum petition.
"I am appalled that there are
so many people who want to
keep their cake and eat it, too,"
he said.
He said he believed many of
the petition signers were per
sons who favored a sales tax.
"I am confident a sales tax
measure will appear on the bal
lot in 1964," he said, "but initia
tive for it will be generated out
side of the legislature.
Divert Their Energies
"Instead of working to defeat
this year's tax bill, those who
favor a sales tax might divert
their energies toward doing
something constructive for the
state of Oregon," he said.
Hoyt said he had heard op
ponents of the tax increase
measure say that "as soon as
the legislature is called back
into session, something ought
to be done about the State In
dustrial Accident commission,
the fish and game commission
and the state highway commis
sion." The legislator hastened to ex
plain that the funds which sup -
There is nothing "just as good"
as General Electric or as good
as your dependable dealer.
OREGON
port those three agencies are
not involved in the tax measure,
which will go before the voters
Oct. 15.
Hovt said Oregon, which he
described as a "high service
state," got into its "predica
ment" partly because there has
been no change in the tax struc
ture since 1957.
Surplus Used Up
In 1961, he said, the state had
a surplus of $33 million, but by
1963, the surplus was gone, and
the stale actually had to re
trieve about $5 million from
Veterans Administration funds
Klamath Officials
Seek Body Identify
KLAMATH FALLS (UP!)
The Klamath county medical
examiner's office said Monday
that it has been unable to iden
tify a man whose body was
found near Gilchrist Friday
afternoon.
The office said the man, who
appeared to be in his 50s, had
been dead for at least two
months.
His badly decomposed body
was found near a railroad sid
ing by a railroad worker. State
police said he apparently had
fallen off a train.
Four Out of Five
Have Home Loans
NEW YORK (UPI) Want a
good bet? Next lime five home
owners under 45 years old con
gregate, the chances are that
four of them will be paying off
mortgages. They will be among
some 9 million heads of fami
lies in their age group living in
mortgaged single-family houses.
This information comes from
William J. Levitt, president of
Levitt and Sons, incorporated.
who says "the young man with
a mortgage on his home is right
in step with the housing econ-
1 omy of our times."
If OPm.' ' r"!
Model SP503
General Electric
i DflSCHIWASIrHli 1
Program
and transfer the money to the j
general fund. !
Hoyt said that in spite of an ;
increase of expenditures, Ore-!
gon had the smallest increase
in the general fund budget this I
year than in any time during i
the last 10 years. I
He cited recent state budgets I
to illustrate his point. Governor
Holmes' budget in 1957-58 show- j
ed a general fund increase of
27.1 per cent: the Hatfield budg-!
et in 1959-60 had an increase of !
11 per cent; the Hatfield liXil-
62 budget was up 17.2 per cent;
bill this biennium's increase
was only up 10.3 per cent, he
said.
Principal Issue
He pointed out that this year's
increase ot 10.3 per cent was ;
even lower than the increase in I
1959-60, which was the year of
the "hard-fought" campaign be-,
tween Holmes and Hatfield in
which "economy" was one of i
the principal issues. I
He termed this year's budget
a "minimum one. State agon- j
cies had requested $452 million,
he pointed out, a sum which I
Governor Hatfield trimmed to
$400 million, and which the leg
islature further reduced to $:W8
million. He noted his figures did
not include capital improve
ment items.
Education this time account- j
ed for most of the budget in-1
creases, he said. Hoyt stated I
that $64 million for education
had to be raised by the present j
tax bill, which included an in-!
crease of 29 per cent for high-!
cr education, 79 per cent for I
community colleges, and 12 per '
cent in basic school support
funds.
He said that welfare appro
priations were only up less than
1 per cent, and that capital con
struction figures were only
"slightly higher."
Hoyt said that he personally
liked the net receipts tax prin
cipal, but was "afraid it is a
lost cause." He said he will sup
port a sales tax, but saw little
chance that one might be pass
ed if the legislature were called
I back into special session.
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enough to get married when I
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