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