Image provided by: University of Oregon Libraries; Eugene, OR
About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Nov. 14, 1963)
7 . 2 g THURSDAY, NOVEMBER 14, 190a MEDFORD MAIL TRIBUNE, MEDFORD, OREGON Chrysler Makes Rapid Industrial Comeback Under Lynn Townsend "The Chrysler Corporation, a heavy money loser only four years ago, underscored its comeback yesterday on several fronts. "Directors reported a 550 per cent jump in profits. They also proposed to split the common stock 2-for-l for the second time in less than nine months. In addition, they advocated doubling the cash dividend for the second time this year. "Earnings jumped to $100, 700,000 for the first nine months of 1963." New York Times, Oct. 25. By JAMES STICKFORD UPI Automotive Editor The sleek, bronze-colored car zipped with a high-pitched whine through tne busy Chicago trat tic tne most recent exampn of an auto company on the move. It was the first domestically DENNIS THE MENACE ' r if"" ti I built turbine car ever delivered to an average American motor ist. And the man who marked the occasion was Chrysler Corp. President Lynn A. Townsend, architect of the industrial come back of the hour. Townsend, a 44-ycar-old ac countant with a cost-cutting ap proach to business, took the reins of Chrysler in July, 1961, after a series of setbacks that included poorly styled cars, con flict of interest suits against top officials and legal action ini tiated by disgruntled stockhold ers. Since Townsend has had con trol, the fortunes of the com pany have steadily risen and Chrysler has been the talk of Wall Street. The corporation was founded in the 1920's by a self-educated railroad master mechanic, Wal ter P. Chrysler, and the finely engineered cars were an im mediate success. Chrysler en joyed steady growth and by the post World War II era enjoyed a solid 25 per cent share of the U. S. car market. Organization Faulty Neither Chrysler nor his suc cessor, K. T. Keller, developed an administrative organization necessary for a large corpor ation and by the 1950's Chrysler was in trouble. In 1957, the company showed ' Hey, Maw ! What oo ya t wwem we rVAT(? SETS TOO BIG TOR TUB TUB ' i Special Selling! Trim, tailored '8.99 stacks profits of $120 million but by the following year snowed loss of $34 million on sales of $2.6 billion. In 1959, Chrysler had only an 11.3 per cent share of the new car market. Townsend came to the corpor ation as controller in 1957 from the accounting firm of Touche, Ross, Bailey & Smart, where he had worked on the Chrysler account. His first assignment was to shore up the firm's overseas' operations and he rapidly ex panded them and talked Chrys ler into buying 25 per cent of France's Simca Company. Trims Expenditures He became a director when he was 39 and was named ad ministrative vice president two years later. He unlimbered his economy ax and trimmed near ly $100 million fro.-n expendi tures. The results . were seen im mediately. In 1959 the loss was cut to $5 million on sales of 2.6 million and in 1961 the corpora tion earned $11 million on small er sales of $2.13 billion. Townsend 's manage ment theory calls for tight or ganization and the right man for the right job. Whenever a soft spot ap peared in the Chrysler picture, Townsend has had an answer. During the pell-mell rush to- Blowdown From '62 Storm Twice What First Estimate Was FRI. & SAT. ONLY Smart tapered stacked heels with softly unlined uppers of antiqued brown, antiqued red, or black doeskin. Fashionable stitches and fringed strap above newly crescent toes flatter your casual clothes, Save today on styles you wear most oftenl $S97 The 133 million board feet of blowdown timber from the 1962 Columbus Day storm was about twice the amount estimated originally, Dave Kaiser, of the Rogue River National f orest, stated at the meeting of the Timber Committee of the South ern Oregon Conservation and Tree Farm Association this week. The regular meeting of the Association will be Friday, Nov. 15, at Rogue Valley Country Club. Paul M. Sanger of the Med ford District of the Bureau of Land Management joined Kaiser on reporting on the year s ac tivities concerning the blow down timber and the projected timber sales for the coming season. Sanger said 21 million board fect of the timber has been sold and salvaged and that of the balance of 4 million board feet 2Mi million has been sold and l..e other l'i million sale dependent upon access roads. Future Looks Good Sanger said the general con dition and outlook for the fu ture looked good for continued timber availability. Kaiser said the last quarter was the most active on record in the Rogue River National Forest. He explained that be cause of the new 10-year pro gram of the Forest Service, the excessive cut resulting from the storm would be spread over a 10-year period. This wul allow continued supply of timber for local sawmills and plywood plants, Kaiser said. The Jackson-Josephine county area naa relatively little dam age from the storm compared to other areas to the north, it was pointed out at the meeting Other areas were plagued with strike conditions, also, which did not weaken the lumber in dustry here, both agencies and industry representatives noted Welded Steel Rails Reduce Train Noise CAMDEN, N.J. (UPI) -The Delaware River Port Author ity's new rapid transit line link ing Philadelphia with Kirkwood, N.J., will use welded steel rail to reduce noise. James H. J. Tate, authority chairman, estimated the noise level inside trains would be about the same as that exper ienced by a motorist in a new car traveling 50 miles an hour over a new highway with the car windows closed. "STAR GAZER A) ' APR. 20l l9-21-38-5Tj '64-72-85-8M TAURUI AMI 21 "i MAY 21 IT t- 7-10-43 Hyy.71-83.90 OiMINI MAY 22 JUNE 22 4-3-371 46-57 CANCfl t M$ JUNE 13 3jlUlV23 l!S)3l.48.59.65 l'7A-77-B4 .JULY 24 - AUG. 23 4-1 8-24.19 VIROO 4 uv 14 V KPT. 22 1 IAl6-22.28.4a I? to -Bt clay r. pollan- JM Your Oaily Activity Gui'd According to the Stan. To develop message for Friday, read words corresponding to numbers of your Zodioc birth sign. ItWl ,1tYrtii Mfcnefy 2 Appeora 32 Something 62 You 3Somelhino 33 1( A3 News J4 r-Qvor 64 Homt 35 To 65 As 36 You 66 Though! 37 You 67 Te.led OCT. 23 4 Woman 5 Occur 6 Especially 7 Lei 8 That To 10 People 111, 12 Heed 1 3 Good UGood ISGuldonee 16 Put 17 01 IS For 19 Good 20 Watch 21 Fo, 22 You, 23 MioM 24 Anything 25 0ul 26 Do 27 Make 28 Foilh 5 Thai 3011 SCORPIO 0CT,-24! NOV. 22 VVj k3-73 80 82VS 38 tntertoining 63 Happy 39 You 40 Top 41 Handle 42 Hove 43 Gel 44 Today 4.SOnly 4oBe 47 Inwove 48 Mult 40 An SOAl SI In 5? People M Comlorf SiKeouiref. SbOnqinol 56 Unlamiliaf 57 Sociable 58 O, 59 G.ve eOUnexoected (VjGooJ ($-0 Advene 09YOU 70 Friends 71 Up 72 Break 73 And 74 Appearance 75 Or 7i Much 77 Ai 78Vibitor 79 Experienced fiO Fncouraging H I be 82 Developmem 83 In 84 You 8b Up 86 Hcnpiloble 87 Hdf ri 88 Larlv 89 Take 90 Air 9 ) iVult jl SAGITTARIUS NOV. DEC 26-32-35-470 P3-38-74 SrJ LIBRA EPT. 23 CAPRICORN DEC 23 x JAN. 20 Vi 3- 5- 8 230 07-62.68 V-i AOUARIUI ,'AN, 21 m. i JjSijj 1M5-I7.40CV 32.73.79-87 PISCIS 'a. 20 iu MAR 21 .J 30. 39-42-49 fT 160-78.81-06-1 Village Variety and Garden Shop Next to Piggly Wiggly . . . 771 STEWART AVENUE Stereo & LP. Records A Good Selection uu Vinyl latex WALL PAINT White & 6 Colors Gal. TOYS BOXED STATIONERY 69. $1.98 Shop While Slocks Are Complete t, Use Our lay-A-Way Plan ward peak production in the late 'SO's, Chrysler's reputation tor quality control slipped disas terously. In some cases, deal ers reported the car cVors would not close. Makes Better Car Chrysler intensified its efforts to make a better car and as a result was able to announce last year a 50,000 mile-five year warranty on power train com ponents, the longest in the industry. And the automotive future has not been overlooked. Al though Townsend approaches costs in a calculated manner, he admits that "million of dol lars were spent in developing the turbine car." The presentation of the first HEADS CHRYSLER - Lynn Townsend, architect of the in dustrial comeback of the Chrys ler corporation, is shown in a 1960 photo. (UPI) of the turbines to Richard E. ler Inn at Chicago with its jet-1 will drive the cars for three viana, Broadview, III., was just engine whine, it marked tne De- montn periods. the start. When the car pulled ginning of the test evaluation If the turbine car catches on, in front of the plush Watertow- program whereby 200 motorists Chrysler will have the jump on the rest of the industry. And that's what Townsend has been aiming for since he took over. SNOWDRIFT SlWWirl3l 3-lb. Can I k J r-i I Limit I rVy One U V y Please Always Lots of Good Food Buys At . WHITE CITY A "ie " "" Z-4i!l 'v,0-'" -r Sign your own declaration of independence You can do a lot for your independence financially and personally just by signing a slip of paper, like the one above, in your employer's office. The paper is an application for the Payroll Savings Plan. It authorizes your employer to set aside a small amount from your paycheck (you decide how much) towards the regular purchase of U.S. Savings Bonds. You hardly miss the money because you never see it. Your nest egg of Bonds builds up fast automatically. And while your Bond dollars pile up to give you more financial independence in the future, they help guard your independence as a free American right now. These dollars help give America the strength it needs to rtand up to the enemies of freedom. Why not tell your employer you want to join the Payroll Savings Plan starting this payday? And see if you don't feel pretty good about it when you sign your name. Quick facts about U.S. Savings Bonds You gel $4 for every $3 at msUurity You can get your money anytime Your Bonds are replaced free if lost, destroyed or stolen You can buy Bonds on the Payroll Savings Plan Keep freedom in your future with U.S. SAVINGS BONDS f2it MEDFORD MAIL TRIBUNE - - - -SI1 1 'n r 1n mu i
