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About Herald and news. (Klamath Falls, Or.) 1942-current | View Entire Issue (March 12, 1961)
PAGE 4-A Sunday, March 12, 1961 HERALD AND NEWS, Klamath Falls, Oregon r ' ' iKqwi , ne llitchonc Business Review EjJ By Floyd L. Wynne . ,r. '- - : . (1 WINNER of a $100 savings bond it Mrs. V. F. Myers, 917 Walnut. She it shown being presented hor prize by Ed Niles, manager of the Klamath yard of Glass Mountain Brick Company, 456 Market Street. The Major Line Kitchens display, in the back ground, were shown for a week at both Market Basket stores. Mrs. Myers was prize winner in a store contest on the cabinets.-These pre-finished factory built cabinets come in four finishes, English walnut, country kitchens, cosmopolitan and birch. Glass Mountain Brick became regional distributor last September for Southern Ore gon and Northern California. Profit Taking Slows Stock Pace NEW YORK (UPI) - The popu lar market indicators seemed toi Bay last week that stocks halted their meteoric advance of recent months but a glance at the tie mendous activity and speculative interest belied this apparent fact , The "pause" or "correction," if i one should call it that, impressed traders about as much as shoring up the flood gates with scotch tape. - The big industrial issues, in short, were "out." Speculative and low-priced stocks were in The end, result was a' trader's paradise spurred by the greatest public participation in history bh volume on Thursday topped tne b- million-share mark for the first time in 514 years. Harried brokers, inundated with orders, were all smiles under the staggering work load and spoke of new electronic devices needed to replace the obsolete and over worked ticker machines that ran behind floor transactions more often than not. ' The ticker tape on Friday, how ever, began to show a slightly different .picture as the grayy train for many of the high-flying special situations ran into a stiff roadblock via the protlt-taKing route. The fact that analysis were lamenting the market's "poor leadership" and the vague timing of an economic upturn served notice on the public thati some rough sledding was still a distinct possibility. One leading commentator said that, to him, it doesn't seem like ly that the market can sustain it self at the current pace if a busi ness upturn is deluycd as long as government economists suggest. Technically, the most bullish tiling that could happen, lie says, Is a decline at this point on light volume. Light volume, however, ap peared to be a tiling of the past as activity rose to anotlicr 28 year record and all five sessions recorded better than 5V4 million shares. The total for the week rose to 29,026.120 from 27,102.9(16 a' week earlier and compared with only 15,980,064 shares at this time last year. The Dow-Jones Industrial aver- -'age, composed mainly of "qual- ity issues." showed how the. money moved to more fertile fields by declining 8.01 points to 663.56. Rails dropped 1.84 to 143.00 and utilities slipped 0.36 to 108.38. Electronics,'' motion picture stocks and low-priced speculations were the best performing groups. Virtually every steol issue de clined several points as investors f ' . v-ii-iv---.... If a 3 NEWEST MAJOR manufacturing plant in Oregon is tha Cottaga Grove facility ef Weyerhaeuser Company's Rilco engineered wood products division. At capacity, mora than 150 workars will be turning out laminated wood arehas and beams, Tha 20-foot building ii supported by 200-foot elear-span trusses. grow discouraged with all the promises of an industry pickup that fulled to materialize. Build ing shares received a late lift on the report of new administration plans to spur low-cost housing. Avco Corp. led the market in activity with a whopping 879,800 shares, rising 1 to 18. Interest here stemmed from speculation that the company would earn 2" N X. V 1 A NEW AND UNUSUAL hydraulic jack hammer is being demonstrated here at the J. W, Kerns Company. Chuck Thurston, local factory representative for tho Henry Company, manufacturers of tha new tool, shows how it works to Ben Kerns, loft. The versatile tool can be used as a rock drill, concrete drill, pavement breaker and other uses. Firm Tests Hydraulic Too A versatile new hydraulic jack hammer is being demonstrated tlicso days by J. W. Kerns, 734 South Sixth Street. The new tool has a multiple number of uses, including rock drill, concrete drill, pavement breaker, tamcr, asphalt cutter and clay spade. There are over 150 tools that will fit on this unit for other jobs including driving fence posts. Chuck Thurston, local represen tative of Henry Company, manu facturers of the tool, says it's the only one of its kind in the United States that can be used by sim ply coupling it to the hydraulic " T $1.20 in its latest fiscal year, up from 97 cents, and that backlog was increasing. The market breakdown of 1.463 issues crossing the tape showed practically an even split of 668 gainers and 670 on the downside with 125 holding unchanged. Some 235 stocks touched new highs while only 3 hit new lows for 1960-61. , 1 , 7 T-x ;r systems of almost any tractor in the basin. Alter five years of extensive testing, the tool is being demon- stratcd for the first time in the Klamath Basin. , Interested parties witnessing demonstrations this past week in clude Memorial Gardens, Bell Telephone Company, the Oregon: Water Corporation and the city street department. The ground lion Is the only ani mal with a special day on the cal. enriar. 1 Ranch Sale Announced By Realtors One of the largest ranch trans fers in recent months was an nounced Friday by Mr. and Mrs. Homer N. Holt who sold then 650-acre farm, all buildings and some ranch equipment for a re ported $100,000. Transfer of the property, located three miles west of Bonanza on the Pee Valley Road, became effective March 9. New owners are Mr. and Mrs. Frank Ponke of Chico and Mr. and Mrs. John M. Logan of Tule- lake. Mr. and Mrs. Logon, well known ranchers in the Klamath Basin for several years, will move to the Holt ranch af once and will occupy the mam . rancn nouse. They will be joined later by Mr. and Mrs. Ponke, presently oper ating an aircraft flying service in Chieo. i Mr. and Mrs: Holt will remain until the end of school in this area, living in a smaller home on the ranch. Their future plans are uncertain. Mr. and Mrs. Holt have owned and operated ranch prop erty in Klamath County for sev eral years. They bought the land just sold in 1048. The sale was handled by Har rv Van througn me omce oi James F. Stilwell and Company. Local Bottler Attends Meet W. Ray Lamb, manager of the Canada Dry Bottling Company, has returned from Seattle, where he took' part in a two-day con ference. - i He said that the conference was an annual event, ana inciuaea marketing officials of the corpor ation and other franchised Bot tlers. Its theme was "CD in 3-D" and it was set up on a workshop basis, he said, to permit maxi mum two-day discussion between! the bottlers and parent company epresentatives. A keynote talk by: Roy W. Moore Jr., president oi Canada Dry, opened the confer ence. The local soft drink company's advertising and promotional plans for the year wore also mapped out, he said, with the expectation of substantial campaigns in local media, developing as the new sell ing season gets underway, Cooper ative promotions with retailers and with other food manufactur ers also figured in the group's planning. . ,The meeting was one of a sc ries being held, in 14 cities across the country. Each meeting was carefully planned to take into ac count the prevailing marketing conditions and shopping habils of each geographic area, so that the program adopted would meet the needs . and desires of con sumers in the particular area. New Lumber Plant Opens COTTAGE GROVE - Produc tion of laminated, wood products has begun at Weyerhaeuser Com panv's newest plant here, accord ing to an announcement from Dale L. Gaeth, vice president manager of the Rilco engineered wood products division. The 124.000-square-foot building adjoins Weyerhaeuser s Cottage Grove lumber and plywood mills. Principal products will be lami nated booms, arches and trusses. The payroll now includes 135 production workers and 23 execu tive, engineering and office em ployes. Wnen maximum produc tion is reached. Gaeth said, cm ployment should amount to 155 production men. The largest clear-span woodcnLmniv .,,',, ii.,fi,, ,. trusses in Oregon were used tollhan i12 million fnr their serv. construct the 200- by 620-foot building. , In recent jvcars Wcverhaeuser Company has manufactured Rilco laminated beams lor the 11 west-, Icm states, using space at Long- view. Rilco, with headquarters at St. Paul, Minn., was merged with;bonus. At GM the minimum sal- Weyerhaeuser last year. The Hil co plant in Albert Lea, Minn., continues operation. Key personnel from Albert Lea and Longv irw were transferred lo start limited operations last fall. G. H. West Jr., formerly at Long- view, is the plant manager. Rilco's nationally distributed line includes post-free clear spans for churches, schools, stores, (ac lories and farm buildings. Theinumber for any year since 1952, lclcs' Pl,u '"'''.'(e.ooo earned firm has furnished spans over 2tand sharply below the record 58,-jon premiums in health, fire, cas (eel. 0(iO completed in 1956, j unity and other insurance lines. A Kl'' ' PAUL SUPRENANT Hotel Names Former KFer As Manager A former Klamath Falls man is the new manager of the Wine- ma Hotel and Coffee Shop. Merle West and Ted Lindlcy, co-owners ot the esiaDiisnmeni, announced recently that Paul Su prenant has taken over that post. Suprenant comes here from Eu gene.. He graduated from KUHS in 1940 and attended the University of Oregon. Following school, Su prenant entered the hotel business and has served with such hotels as the Eugene Hotel, Medford Ho tel, Marion Hotel in Salem, and the Sands of Gcarhart at Gear hart, Ore. Suprenant, his wife Dolores and their three children, Michael, o. Kelli. 4, and Kimbery, 2, arc residing at the hotel for the time being. Several weeks ago, plans were announced for a future expansion to convert the hotel into a motel hotel business with the addition of a three-deck motel arrangement. to the cast end of the present structure. Public Land Bids Asked Sealed bids for the leasing of five tracts of public lands with a total area of 456 acres in Lease Area "J," B l (League of Na lionsi L?ase Lot 105, Lease Area N, and Lease Area G (Southwest Sumpi, fur agricultural and graz ing purposes will be received from the general public until 10 a.m., March 28. Information on bidding proce dure and leasing conditions may be obtained fiwn the bureau's of fice "at the coiner of Washburn Way and Joe Wright Road, or from bulletins posted at all post offices in the Klamath Basin vi cinitj . Conducts Class Dr. Clyde E. Browning, head of the real estate department, University of Oregon, will be the lecturer for the third class of the certificate education course for Klamath and Lake County real estate brokers and salesmen on March 13. All classes in the non-fee certi ficate course arc conducted at Klamalh Union High School, be ginning at 7:30 p.m. Subject for discussion at the third class will bo "Real Estate Markets." Dr. Browning is co-dircclor of the certificate program sponsored by the Oregon Real Estate De partment and the University of Oregon. As the 16 lectures in the course are ronlinuous, attendance jer. Usher is principal of the Dor at any class will establish regis- ris Elementary School and Mrs. tration. Iruhor in,.hc ih m;i .,j AlltO Bonuses lit-TitniT . r. tI.- . Kilo mni. -ill ., .l..tn,t!l,l'"V" . niMI UUI UUI. OR ices during I960. Approximately 20.440 men and women will share in the awards at General Motors. Ford. Ameri- can Motors and Chrysler. Each company has its own for- mula (or determining the total iary an rmplove can receive and stul be eligible for a twnus is $750 a monm or wmi a vcar. EXPLORATION TO RISE NEW YORK (UPD-OU explor ation slowed in I960, but officials; look for a step-up in activity this year. Drillers completed only 46.- TSO Ullc la! thm mallacl Newspapers h Key Role Cam Dmaiiiamii rui DICVYCIjr Newspapers will play the key role in one of the most unusual campaigns ever used by a U.S brewery when Sicks' Rainier Brewing Company unveils its new advertising program, tne quality of the ingredients in Rai- nier's unique light beer will be stressed, according to Gordon Bennett, advertising manager of the Seattle brewery. The first of a series of full-page four-color ads will appear in the Herald and News the week of March 13. . Paying tribute lo newspapers as the medium which reaches ev erybody, Bennett said a satura tion schedule of full-page ads, both black and white and four- color, in all leading dailies of the Northwest will provide the spring board for Rainier s lively c a m- paign during the year. Rainier also will use spot tele vision, outdoor posters in key areas, spectacular painted but letins and, in another unusual move, will run a dozen full-page ads, mostly color pages in the Saturday Evening Post. In addi tion, Bennett said Rainier will co- sponsor several baseball telecasts from Spokane and will sponsor radio broadcasts of the full 154 game baseball schedules at both Seattle and Spokane. The campaign for Rainier -was created by its newly-appointed ad vertising agency, Doyle Dane Bernbach, Inc. William Zarkades, manager of DDB's Seattle office, serves as account executive under James M. Loughran, account su pervisor. Fruit Firm Shows Rise Di Giorgio Fruit Corporation, in its report to stockholders released Saturday, lists I960 earnings for the corporation and (Is consolidat ed ' subsidiaries of $1,285,081, equivalent lo 97 cents per share of outstanding common stock, compared with $1,043,372, or 78 cents per share, in 1959. Consolidated ncl sales for the same period climbed to $102,344, 986 from Ihe $975,572,496 report ed last year. The net income figure includes a non-recurring capital gain after laxes of $348,926, attributed lo part payment from, the sale ofj farm properties in ' Florida, the report shows.- , Robert Di Giorgio, executive president, said the firm's Cali fornia fresh fruit crops were ad versely affected by an extreme hot weather spell last June urapes particularly suitered in quality during their formative pe nod, depressing their market val ue, he said. Meek Leaves Dorris Post DORRIS Norman Meek, dis tributor for Mcdo-Bel Creamery for the past several years, left here recently for Yrcka where he will become associated with State Farm Insurance. Mrs. McH will join her husband later this month. The Meeks sold their home here to Mr. and Mrs. Bucl Fish- Meek resigned his seat on the .Don - is City Council last month. He was appoinled to fill uV un- Sept. 4. 1956, and was elected lo a four-year term in 1958. Jay Motschenbacher. Don-is, ha; Liken over Ihe Mcdo-Bel distribu torship. BILLIONS IN INSURANCE PHH-AnFI.PHn (tlPli Tn. tal premium income reported fori all insurance companies in Ihe US. reached $29,705,283,000 in 1959, according to the Spectator, i a trade publication. I Thi nieminm ln,v,m Inlal In. eludes $10,944,181,000 received for payments on ordinary, group and industrial life insurance pol- SEVEN DRIVERS of the Bend-Portland Truck Service who operate out of Klamath Falls were honored by being awarded safe driving honors at a recent all-day meeting from all stations of the firm held at the Pilot Butte Inn at Bend. Shown here are three of the local drivers, right to left, Fred Metcalf,' honored for 16 years safe driving; Howard Straight, and Harley Newland, both one-year awards. Others not pictured, Jerry Wagner, and Robert Gallup, both one-year awards; Walter Sexton, four-year award, and W. Frank Hanan, seven-year award. Wilfred E. Jossy, president of tha firm, made the presentations at a banquet at the Bend Golf Club. , Economy Lag Helps Home Buyer By HENRY J. BECHTOLD UPI Financial Editor NEW YORK (UPI) One seg ment of the U.S. population bene fitting from the lag in the econ omy is the homebuyer. While house sales are lagging. the supply of savings is growing, and the new year brought the sharpest drop in months in the cost of mortgage money. A mortgage survey by House & Home Magazine showed that both Lease Store FORT ROCK Mr. and Mrs. Ed win Shaver and his stepmother, Zella Shaver of Bend, have leased the Fort Rock Store from Andy Hergert and began operations March 1. . Mr. and Mrs. Edwin Shaver have three Sons, all attending Bend schools, and the family will join Shaver at the close of the cur rent school year. In addition to the store, the new proprietors expect to continue the restaurant, service station and post office, with Mrs. Zella Shav er as postmaster. Hergert will continue his John Deere business. REASON WHY BURLINGTON, Iowa (UPI) -; If you're wondering what makes $2,000 automobile cost $2,000, the National Education Program Letter has the answer. There is $22 of raw materisla. $500 in taxes and between $1,200 and $1,500 in direct and indirect labor costs in the car. Net profit to producers of raw materials and allied industries, $89; to parts makers $47; to local dealer $77 and to car manufacturers $65. F: : -v- ;,V; - j--.,- -r; WORK IS PROGRESSING on construction of new facilities at the Great Northern Rail way freight yards. The company is building four new classifications tracks for block- ing Trains ana exrenamg Tnree uacKs aoout car lengths each, rearranging tha swiTcning ieaa. -rws nave Construction Company of are laying Tne new rracK. ESTIMATE RIGHT WASHINGTON (IPI'-Tlie In ternal Revenue Service says lax- navprc nfton tinrforpctimat t h mounl ,hcv van deduct in M. eral income tax returns for state and local taxes. You can use standard state ta hlp In fieiire thpsp riedtirimnc For inslance- Rhoie Isiand table would put the deduction for the three per cent state sales tax CO.OOO income at $266. INCOME TAXES Why throw 20c at avary dol lar awor. Brine your fax flips in and tava. Chos. Hathaway 120 N. 10th Si. FHA and VA mortgages were sub ject to smaller discounts by lend ers, bringing about' a savings to homebuyers of from to 1 per cent of the amount of the mortgage-. Behind this drop in mortgage costs is the gain in deposits in mutual savings banks and sav ings and loan associations (near ly $10 billion) and a flood of pen sion fund nioney into the mort gage market, according to the magazine. At the same time, it noted that the slowdown in housing sales has cut the demand for such funds, bringing a downward pressure on interest rates and discounts. One result of this changing mortgage picture has been an in crease in the number of builders offering VA insured loans. High discounts have kept builders out of the GI market recently, but they now are getting small enough to encourage some build ers to absorb the cost in order to offer better terms to their buy ers. House & Home declared. It noted that there still are nine million. World War II veterans and five million Korean veterans eligible to buy homes under the VA -program. - ' ; . The magazine - also found that VA financing may get a shot in Ihe arm in many areas because VA's 5',4 per cent interest 'rate now is much closer to the FHA'sito lend money to institutional in- rate, recently cut from 5?4 per cent to i'i per cent. . As for the cut in the FHA rate, the survey showed that the reac tion of the market has not been as unsettling as pessimists feared nor as stimulating as optimists hoped. Housing experts do not see the lower rate stampeding buyers into the market. Most builders and lenders agree that the main effect of the 5Vi aiso leveled a slight hump in Portland did the grading and SEE US FOR ALL TYPES We pride ourselves our dependability on our quality work, and our service. iii Guide Printing, Inc. 1205 Klamath Avt. Ph0Bt TU 4-S373 per cent rate on homebuyers will be psychological. Under the new rale, a buyer of a $15,000 house with a 30-year FHA mortgage will pay $87.75 a month instead of $90.06. But a Long Island builder believes this will make a difference, the ma azine said. And a California build er agreed, stating that "a buyer will feel he is getting some thing." In another article, the profes sional magazine of the housing in dustry urged the Kennedy admin istration to take seven steps that would help the construction and sale of new housing. It said the seven changes need not cost the taxpayer a penny, but "it is high time they were made." The suggestions were: Require local FHA offices to conform to forward-looking direc tives from Washington, rather than what has been "local cus tom." Let FHA spend at least one third of its premium income lo do its work right and to pay high enough salaries to hold good men. Reduce the FHA insurance premium to a single non-refundable advance. The Vi per cent saving per year would let most homebuyers qualify for a better house. Permit the Federal National Mortgage Administration (FNMA) vestors oh their security with re course. Base FHA income require ments on a 40-year straight-line depreciation regardless of how fast or how slow the amortization. Provide more nearly adequate market statistics on housing for guidance of the industry. Permit FHA to spend more of its income for construction re search. the switching yard earth-moving and Kay Kizar ng and tN crews Specializing in all types of printed folders, eir c u I o r $, letterheads, checks, statements, sncp-out forms, plas tic binding, etc. Top quality jobi. Work guaranteed. Ltf Us Supply You Wtrii Whatever Farms You Nwd. c
