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About Herald and news. (Klamath Falls, Or.) 1942-current | View Entire Issue (Dec. 21, 1955)
COiP . 0 Of OREGON LIBRARY EUGENE, ORG. 55 p mm m In The- Day's lews By FRANK JENKINS Today's big financial news: The Fold Foundation, through Its pttoraeys, formally requested per mission this morning from the se curities exchange commission to fell JO.200,000 shares of its Ford Motor Company stock to the gen eral public. These ten million 200 thousand shares represent only about, ONE FITH of the Foundation's Ford flock Holding.,. They are expected to sell en the open' bld-and-take market for somewhere m the neigh borhood of three quarters of a bil lion dollars. . Why is that big 'news? Well, among other things, it will mean that more of the capital stock (which represents ownership) in one of the nation's biggest busi ness corporations will pass out of the hands of one big organization and into the' bands of the general investing public. , That will mean spreading owner ship of the huge Ford Motor Com pany into just that many more hands. One further thought: The Ford Motor Company was founded in 1903 with $28,000 in cash. That original $28,000 has grown in 52 years to an estimated value of some two and a half BILLION dol lars. . .. That Is a measure of the ca pacity of America's industrial econ . omy to grow and expand. If we can keep on an even keel and if we can avoid another world war the next 50 years can see an even GREATER growth and expansion. Opportunity In America isn't dead as cynics fell into the habit, of saying back in the grim, glum days of the Great Depression. Here's an interesting little tale culled from the teletype: A number of years ago the Pilot Rock Lumbei- Company gave to the Oregon highway commission (for possible state park purposes) the site of an old abandoned lum ber camp on the north fork of the John Day river. Now the same company wants to buy it back. Its spokesman, Low ell Stockman, of Pendleton, says his organization has a use for the tract that it. once gave, away. At the same time, he asked the commission to lower the xoaabed under a, railway crossing to give a clearance of-14 feej to accommo date wood chip trucks. ' ") Why is that so interesting? . This is the story: The Pilot Rock Lumber Company Is now using JACKPINE, the new wonder wood, as a raw material for the manufacture or building board. In its expanded operation (based on the use of Jackpine) it has found a need for the land it gave away years ago. The same reason is back of Its request for increased clearance in an undergrade crossing in order to handle wood chip trucks. The trucks are bringing jackpine chips to the company's new building board plant. Another jackpine slory: Up In the Spokane country there is a medium sized paper mill whose owners were planning several years ago to close it down because of exhaustion of available pulp wood supplies. ' , Then jackpine came along and was found to be wholly satisfactory as a raw material. So instead of abandoning the paper mill they are now planning to put several million dollars of new capital into expanding and modernizing it. Why call jackpine a "wonder" wood? Only a few years ago it was re garded as worse than worthless be cause there was no market for It and it cluttered up land that was more valuable for other uses. Now its uses are increasing steadily. School Chorus Visits Clinic Members of the Roosevelt School chorus directed by Mrs. Marv Van Vactor visited the Klamath Coun ty Infirmary yesterday as a part of the Junior Red Cross Christ inas activities in the city schools. Roosevelt first grade students vis ited the same institution Monday accompanied by their teacher-soon-sor Mrs. Bertha Hultman. The first siatiers took gilts .of plants which they have grown and entertained the patients with their music. All city elementary and paroch ial schools are enrolled in the Jun ior Red Cross program and many are participating In Christmas pro jects. Fremont Elementary, with Mrs. Anna Fisher as teacher-sponsor, have prepared holiday decor ations for veterans at Camp White: Mills School children have contrib uted 27 gift boxes for children In disaster area: each box includes toys, henlih articles and school sup plies: Mills teacher-sponsor reports that additional boxes will be com pleted this week. Roosevelt chil dren have also contributed hand made favors for local hospitals and institutions to brighten holiday ineals. A gift of $50 was voted by school", children from the Junior Red Cross treasury to' provide material av sislance to children in other lands in need of help by reason of un favorable economic conditions or disaster. Mrs. H. A. Moore Is program rhairman of the local Junior Red Cross. Ifititil awft 3trtpg rrice Fife Cento 11 Tagea I0US Body Heeds Gl's Appeal PORTLAND. Ore. (UP An ail iailhs religious organization today promised to heed an Indiana sol dier's plea for someone to take over a- pathetic' little orphanage for blind Korean children. .World Vision, Inc., said steps 'to assume rne responsibility for Pfc. Fritz Moeller's "off limits'' or phanage already are being taken. and funds will be made available before Moeller is sent back home to Southpcn, Ind., in February. "So you tell that boy and his mother not to worry," Roy Wolle. director of, publications at World Vision's headquarters in Portland, told United Press. OBSTACLES Moeiler. 22, started his orphan age in an "off limits" area near Seoul despite objections from the Army and assurances it would not be successful! Once he was jailed by Army authorities for visiting his charges, but the Army later relented and issued Moeller an un limited pass. Moeller grew fearful about the future of the orphanage when his rotation date approached. He wrote his mother, Mrs. Christian Moeller, for help. She got the name of World Vision. Inc., from her Baptist minister and asked for help. ' . "Help is coming," Mrs. Moeller was able to cable her'son.in Korea late yesterday after.-' contacting World Vision in Portland.1- , Moeller's 'flock is made up of refugees and orphans from North and South Korea. About half of them, are blind, either as a result of diseases or from war Injuries. Their ages range from 6 and 1 years to a few youths in their 20s who are as helpless as 3-year- olds. . BIGGEST SMILE ' '. ' One 7-year-ola boy. a United Press reporter cabled from Korea tports the biggest smile of all though he has no right arm. He has never seen himself and he doesn't know the wounds which blinded him make his face a hor rible caricature. Each night two of the children walk four miles to the service conv pany of the 24th Division near Moeller's unit, United Press Staff Correspondent Robert . Brown cabled. They carry two large paint buckets to receive leftovers from the mess hall. The two girls who pick up the leftovers each night also act as guides for the others who stumble and fall if not helped through the doorway of the small mud-walled, tin-roofed building Moeller is hav ing built for them. Stores Open To aid Christmas shoppers all the downtown itorei of Klamath Falls will remain open through Friday until 9 p.m., according to an announcement from the Klamath Merchants Association. Prpa Keng MANY A SMALL CHILD will Imow thera it a Santa because members of the Future Nurse Club of Klamath Union High School have tptnt many hours malting dolls and stuffed animals for children who otherwise might bt forgotttn. This it the second year that club members havt had such projact, Tha wrapped gifts will bt turntd over to tht Christmas Cltaring Bureau for distribution, Tht club is sponsortd by tht auxiliary of tht Klamath Medical Associa tion. Mrs. Margaret Stredt it KUHS advisar. Picture art, Itft to right, tht effictrt of tht club, Peggy Brown,, prttidtnt; Mareie Hawlty, tetretery and Jean Morgan, vice prtsidtnt. mage Sells Aid Highway Board Approves Low Bid For Viaduct Work The S'.ate Highway Commission Tuesday approved a low bid ot $899,964 for construction of the new South Sixth Street viaduct over the Southern Pacific tracks in Klam ath Falls. According to Highway Commis sion officials, the new viaduct will be open for traiflc by next fall. However, final completion. Includ ing installation of guard rails, and landscaping operations will not he completed until August 30, 1957. Submitting the low bid was Tom Pupils Invited To Meet Santa CHILOQUIN Pupils of the first six grades of Chllouuln, Sprague River and Klamath Agency are in vited to meet Santa Claus at 12:30 noon on Friday at the big com munity Christmas tree In Chile quln. Time was setj at 12:30 so the school students can return to school on time for the last classes before Christmas vacation. At 1:15 p.m. or shortly thereaf ter, parents are invited to bring preschool children to the tree to receive their Christmas treats from Santa Claus. , The genial Saint Nick urges that the hours be observed so that he will have time to greet the school children before the little folk ar rive on the scene. More than 600 sacks of candy and goodies have been prepared by a committee aa Chlloquln's help to Santa Claus On Friday. Merrill Plans Yule Party MERRILL, The Merrill schools will present their annual Christ mas program Thursday, December 22, at the high school gymnasium at 7:30. Mrs. Ted Gordon, Mrs. Marga ret McAnulty and Mi's. Lucille West's first and second grades will present, "Neath the Christmas Tree." The girls will be dolls that sing and dance and the boys will be soldiers that, march and sing. Mrs. Rose Lee. Mrs. Mildred Retterath and Mrs. Janls Kafton's third and fourth grades will pre sent, "The First Christmas" a pantomime of the nativity scene with Christmas carols and choral readings. The fifth and eighth Junior High Choir will present a skit taken from "Frosty the Snowman" and will also sing. ' The high school students will present a pantomime and the choir I will sing. Virginia Walton is mu i sic director for the high school. I junior high and fifth and sixth grades. t Santa Claus will be there to say i hello and pass out presents. Everyone is inv.ied and urged to come early because of limited I seating capacity. KLAMATH FALLS. OltEC.ON, WEDNESDAY, DECEMBER SI, 1955 Llllebo of Reedsport. Two other, bids, both Just under a million dol lars, were submitted. ' The structure will be a four lane steel and reinioiced concrete viaduct with extensive claverlesi structures at the downtown end. Sixth and Seventh streets will be come one-way street. . iroin the downtown area to Commercial Street. Outbound traffic will use Sixth, while inbound traffic will come off the bridge, turn right on Commercial and left on Seventh. One block on Commercial, between Sixth and Seventh streets will be made one-way. Sl'IT FILED Meanwnile, attorneys for. the Highway Commission Monday filed suit here to condemn a portion of the right of way needed for (he new viaduct. Deiendant in the ac tion Is the Crater Lake Machinery Company, which owns lr-hri at the downtown end of the viaduct. The total plot Involved Is a par cel of land 15 by 150 feet. When contacted Tuesday after noon, Stanley Miller, president of the company, said he had not re ceived any notification about the suit. He said he was not opposed to the viaduot. but disagreed with the pricing policy adopted by the com mission. Full agreement for other land. Including a portion of the Kiiitiny lot In front of the main building of the Crater Lake Machinery Com pany has been reached, according to the Highway Commission right of way department In Salem. The land on which the oflrking lot is located Is owned Jointly by the . Great Northern and Southern Pa clflc' railroads,' and is leased , to i Miller Indicated he felt that the commission was taking so much of this land that It would harm the ! machinery company's business by too drastically cutting down his i parking area, I "But I cannot do anything about I this except make my recommenda tions," he said. He added that when agreement between the railroad company and the commission had been reached, ( he would agree on a price for his land, without any necessity for a suit by the state, but that he had objected "on principle." ' Other projects aporoved by the commission in its two-day meet- ing In Portland Included another ; In Klamath County. The pro-1 Ject calls for the grading and pav ing of 7.31 miles of the east unit, Crescent Lake Junction-U.S. 97 portion of State Route 58, the Wil lamette Pass highway. Low bidder was Warren Northwest Company of Portland at, $384,241. The section of highway Involved Is 43 miles east of Oakridge and 10 miles south of Crescent. ALSO APPROVED Also approved W'as a bid for the installation of guard rail on U.S. 97 and State Route 58 in Klamath and Lane counties. Low bidder was Trussfab, Inc., of Portland at $11, 628. The Sixth Street Viaduct Job rep resents more than 25 per cent of the contract money approved at the ! two-day meeting. Contracts total ling $3,340,422 were approved. , - . A. E. STREET, principal of the Malin High School, left, and Ted DeMerritt, associated with the Malin Chamber of Com merce and one of tha iponsori tending tht Malin football team to Eugene to witneit basketball game, were caught before departure this morning by tht 9 o'clock photographer at tha but depot. SHOOTING HOURS OREGON December 22 ' OPEN- CLOSE 7:02 4:37 CALIFORNIA December 22 OPEN CLOSE 7:01 4:37 400 Farmers Plan Meeting Approximately 400 farmers and ranchers from Klamath. Lake, Sis kiyou and Modoc counties arc 'ex pected to attend the 22nd annual meeting of Ihe Klamath Produc tion Credit Association at the Klam ath Falls Armory on Saturday. Jan uary 14. Announcement of plans for the meeting were made by Don treasurer. Lee Holliday, Klamath Falls, as sociation president will pre.-ide ai the meeting. Registration will star) at 11 a.m. followed by a smorgas bord dincr and the business ses s ion. An out of town speaker is to be aiTHiiKed for and there will be en tcrtiilumem. Three new members of Ihe bomd of director,- are to be elected in succeed V. M. Wiilltun , K'amitih FnlK Wrlirr Robhon. Mi.tclocl and J. Ratio II P.;pe. M?ri'iil. whosr terms, arc e:(tVimr. Holdover direCiO.v. are Lee Holli day, preidenl. Klamath Palis. E. A. Onaiy. Klamath Fall?.. E. M. Hammond. Merrill and A. It. Camp bell. Klwrnmh Falls. 859 Children Phone Santa More 'than 859 Klamath Vnh children trwk advantage of Saiua Clau. invitation to 'ell him what they wan-ed for Christmas on .he telrphon In sl weekend. Lew Hr.m bim. tur!;mpu of 'he Ktamath Coi.in'y .Junior Chamber. 01 Com merce ' H"ll Sama" committee, re ported today. Haivblm und nis commltii'C er rinqed 'he telephone .spare for Saii'v. A ou-,n.e:i firm. Pacittc Inuusuinl Loen Cmmnv, , 1V1 South Ninth Street, lent the space .ma lrt.aata use th?ir .witch oo&rd. Mos of Viie taller will receive po'-i cards from some of Snnta's .secretaries here in Klamafh Falls. Hamb!in xaid. He added iht.1 there vere a lew addresses the secre taries dia not receive, "but you can bet your bottom dollar Sama got them " Telephone Sill 1 (Ms Family Night Well Attended r" FORT "ROCK Fori' Rock Sunday ,3cJ'fJanyv,Hju--'ls,fridRyJ, was wen attended, pre-cninier pro- i Joels Included making greeting j cards ' and wrapping cloth picture I books made by the kindergarten, Mid, primary pupils for Doernbech- er Children's Hospital In Portland. Rome : families made olace mats ! fnr thp Christina mnriiino htenlt-j fast table from waxed paper and designs cut from old Christmas greetings. Grduo games, directed bv Mrs. I Maurice Ward and Mrs. Robert 1 Morehouse, followed the polluck dinner with 66 persons, present. Mrs. Morehouse presided as the Junior Sunday School pupils read the Christmas story recorded in Luke 2:8-20, kindergarten and pri mary children sang, "Away in a Manger" and other songs, and the Junior hiuh group presented a choral reading All joined In the singing of ChrlsUl Kit mas carols, led by Mrs. Delbert I , "n ' mira piraes Wilson. Plans were made by the J0" stff, me",be1' "lncd, in group to go caroling Friday eve- SCa work, the addition of a nlna December 23 ; I YMCA program on the campus of Family films were shown by Earliorcon.lecn,nlc"1 insl"ute and Corum of silver Luke 10 conclude Die evcniUK fi proRrnm. nrn shopping LfiJJ DAYS LEFT I - Htlp Fight TB n .1 m rniimvin? camrMnx wu 9. lBuy Christmat Seals. J lw X fil J- - ' SeKVICe TO Imb FAMILY and to tht community was tha keynote of last night's 22nd annuaf banquet and matting of tht Klamath County Young Man's Christian Association, held in tht "Y" headquarters on Pint Strttt. Tht sptalttr was Rudy Albrtcht, Sacramento, general sec- ' retary of tht Mountain District Work of tha YMCA, Pacific Southwtst Arta, stcond from tht Itft. Othtrs, ttattd, (eft to right, art Bill DaPaw, vict prtsidtnt and John Sandmeyer, prtti.. dent of tht local organization. Standing is Bill Cornell, program itcrttary, . First Such Offering In WASHINGTON (UP) The Ford Motor Co. in its first public ac counting In 52 years today reported net profits of $1,536,800,000 from 1948 through Sept. 30. . ; These disclosures were made In a 39-page prospectus covering Ford Foundation plans to sell 10.300.000 shares of common stock In the first public offering of Ford securities In the firm's history. Tlie stock, biggest corporate of fering ever insoo, ' is expected ,o go on sale some time next month lor about $75 a share. The aotual time and price will be disclosed later. Par value will be $5 a share, The Ford earnings report was J made In a registration statement, R. Albrecht Addresses T Meeting The responsibility of the Young Men's Christian Association in the building of character . In the youth of America, and in meelintr the challenge of the need for guidance in foreign lands, was emnhaslzed last night by Rudy Albrecht, Sac ramento, gend'Hl secretary of the Mountain District Work of the YMCA, Pacific Southwest Area, " Albrecht spoke at the 22nd an raial banquet and meeting of the Klamath County Young Men's Christian Association held in the "Y" headquarters. With the new found freedoms for youth greater than at any other time in nisiory, me solution lor channeling those freedoms In the right direction must be through moral and spiritual training, the speaker said. Character and sta bility can be built through the right leadership. Training of such leaders is today's challenge for the YMCA. SPOKE BRIEFLY Company History He spoke briefly of Ihe import- Sept. 30 amounted to $1,840,000,000, ance of family parllcloation in "Y" I 4. The company plans to Intro work, of the deep religious fervor duce a new line of passenger cars. thai is on tne upswing in European countries where thousands gath tlclpate in "Y" programs. Eighty-' three nations now have YMCA priv ileges and "for these brief moments in history. America leads." he said. In closing he an Id "there are no short -cuts to character." and sought continued cooperation of the membership, the board of direc- tors and the staff in helping to j continue, to promote the momen- turn of growth of the local organ ization.' In the business session which fol lowed, announcement of election of the new members of the board of directors was made as follows: Mrs. R, P. Elllngson and George Proctor, reelected: Bob Beach, -toe LaClalr. Mrs. Estln Kiger and Er nie Taylor. GOODS Goals of the "Y" for the com ing year as announced by Paul Campbell general secretary includ- in- creased service to the smaller conv niunltie In Klamath County, The "Y" program is ao Reared, Campbell said, ihal mcoinlnir per nonnel of the Klamath Falls Jet air base, and their families can be immediately integrated into the num?roui pha.ves of service oficed, Additional advantages including openin? of the headquarters on Saturday nights and Sunday after noons will be offered as member ship support allows, Campbell Mat- en. Campbell alao referred during his talk to printed pi-OKi-ains which jrsin throuali Thursday. Windy at showed a marked increase in "Y" : time. Hicli Thursday 52; lou activltles from hours the buildinir Wednesday nicht 42. is open to membership to planned High yesterday 47 programH. I Low last night H. . .......IX i i . rvniTiTTri r " ,)"" "i a necessary corollary of the stock offering, to the Securities and Ex change Commission. It showed that current earnings are Bt the rate . of $5.85 a share. Cumulative earn ing since i40 nave oeen second in the auto industry only to Gen eral Motors. .' ' The company used this prospect tus as a vehicle for disclosing that it plans to introduce a new line of passenger automobiles "within the next few years.". It did not' describe the line or say what mar ket it will be aimed at. CURRENT BUSINESS Concerning current business, the Ford Company disclosed that deal- ' slock3 f Fortls !,l Mercurys have Increased and that "there have been reductions in production : and In future production sched ule,'.. "Rapid changes In demand can occur in the industry,"' the com pany said, "and plans for future production are subject to continu ous review and to frequent revi sion upward or downward as cir cumstances require." The financial report covered the. 10 years, as required by law. through the first nine months of 195.i. It disclosed that the com pany suffered net losses In 1948 of S8.1CO.000. . - - Thereafter, however, the com pany made fat profits, although there waa a sag In 1951 and 1953. Output hit a record high for the firm In the first nine months of 1955. For that period the not was $313,200,000, higher by $84,400,000 than the profits for all of 1954. the richest previous year, For the nine years 1B49 through 1954. Ford's net 'earnlnaa were $1,234,600,000. This compares with $4,775,000,000 by Its chief rival, Ocneral Motors Corp., and $688.- 000.000 by Chrysler during the ! saino nerlod ! SALES TOTAL The 39-page prospectus also re vealed: 1. Sales during the first nine months of this year totaled $4,. 042.600,000. 2. Consolidated net income for the first nine months of this year was $312,200,000. 3. Total capital and earnings re tained In the business as of last 5. The company had factory Bale Of , 1.091,000. .CAjtMMV-eMWfevt.d fid 30.2 per cent of the Industry total sales. 6. Factory sales' of pasaengcr cars and trucks or the first nine " months this year totaled 1,901,000 or 27.6 per cent of the industry's total factory sales. The prospectus showed that the company's directors already hffve voted a dividend of 60 cents a nharo for the first quarter of next year. Future quarterly dividends will be subject "to business conditions" and the company's operating and financial position, a statement ac companying the statement said. DIVIDENDS PAID So fnr this year, dividends were paid equal to $2.17 per- share on the newly classified capital stock. This dividend was declared on the basis of profits of S312.200.000 on sales of $4. 042.600.000 In the first nine months of 1955. The Ford Foundation will sell the common stock to seven targe underwriters. The seven, in turn, will ask 700 smaller brokerage houses through out the nation to participate in the sale of the stock In the public. A local broker said the word In se- curity circles in that the major underwriters will ask that individ ual allotments be limited to five or 10 shares to insure wide public holdings. Weather FORECAST Klamath Falls ami vicinity: Clourty with hilrrmlttent
