Business Review
By Floyd L. Wynne
Sunday, January 13, 1963
HERALD AND NKWS. Klamath Falls, 0,c
PAGE 3C.
W?' w 3ESjOM8 r liTiiii iw -jlBi'iiii'i aaeii3
NEW OFFICE BUILDING Klamath Lumber and Box Company hat moved into its
new office quarters which were just completed by Warren Parr, contractor. The bulid
inn ic ? ku HA m4a -f .. I I I li a..-
.... vj wv ,., .iinwa wi uwii Dllu UBfllll LUllll I Ull IV'l gnu wa aiatiBD in laie aug
ust. It has a half basement. Estimated cost of construction was in excess of $30,000.
" "Si's
! DAN CRAWFORD
Spud Industry
Mag Published
TULELAKE A new publica
tion, the "Spudman," Voice of the
Potato and Onion Industry, rolled
off the press in Tulelake this week
with a January, 1963, date for the
first issue.
A Tulelake man, Dan Crawford
Is editor-publisher. Crawford has
had previous experience in this
type of publishing, having been
editor of "Potato Horizons," Lock-
wood Grader Corp. of Coring,
Neb.
The attractive 14-page brochure1
bears the likeness of Spudman
Marvin Cross, and contains an
editorial by the editor, the story
of the Klamath Basin's effort to
harvest the 1962 potato crop after
the storm of Oct. 12. pictures of
the harvest that doubled costs in
many instances, other news and
pictures pertinent to the potato
and onion industries at the na
tional, state and local levels
plus advertising.
Crawford also docs much of his
own photography.
The brochure is printed by the
Tulelake Reporter,
PUC Reports
Revenue Dip
SALEM flPI Revenues of
railroads and express companies
operating withing Oregon were
down 1.49 per cent in 11 from
lfl. Public Utility Commissioner
Jonel C. Hill said today.
Total Oregon revenue for 1961
was $124,140,633, compared with
$126,021,667 the year before, Hill
laid.
Of the 1961 total. $114,879,963
was for freight revenue, passenger
traffic totaled $3,969,798, mail arid
express $3,578,228, and other reve
nues made up the $1,694,662 bal
ance. Only mail and express revenues
showed an increase over the I960
figure.
This was up 1.50 per cent, Hill
said.
Freight revenue was down 1 31
per cent, passencer down 334 per
cent. and other sources down 1.77
per cent.
In the freight category, forest
products accounted for $19.7 mil
lion, manulacturers and miscel
laneous $16.7 million, agriculture
$6.2 million, and mining $4.08
million. Hill said.
The report listed seven class 1
rail companies. 13 class II rail
ways and die miscellaneous com
panies. GUARANTEED
TRUCK
SERVICE
AND REPAIRS
We're Specialists en
4 . wheel drive Willys
'Jeep' vehicles, but we
or equipped to serv
ice ell mokes.
JOE FISHER
Lincoln, Mercury, Cemet
Willyt 'Jeep' vehicles
477 $. 7th n. 41104
Itrc7 ke:
CIiH , -45l
Bank Sets
New Marks
Crocker - Anglo National Bank
broke all records in 1962 in earn
ings as well as in total deposits
assets, loans and capital funds,
according to year-end figures re
leased today by Chairman of the
Board Paul E. Hoover, the bank's.
chief executive officer.
Despite higher savings interest
payments, which amounted to $9.
414,641 more than in 1961, and the
costs of the bank's extensive ex
pansion program, Crocker-Anglo's
1962 net operating income alter
taxes totaled $16,588,693, as com-;
pared with the 1961 figure of $16,-
456.684. These results are equal
to $2.50 per share for 1962, com.
putcd on the 6.599,395 shares out
standing at the end of 1962. In
1961, net income per share, based
on shares outstanding at year
end, was 52.49.
On Dec. 31, 1962, deposits lo-l
laled $2,134,493,140, an increase of!
S180.652.074 over the correspond-j
ing 1961 years-end total of 1,953,
841,066. All categories of deposits
participated in the increase
Cash and securities amounted to
Sl.054,845.837 at the end of 1962.
Loans, less loan reserves.
amounted to $1,231,978,135, an in
crease of $165,935,788 over the
corresponding 1961 figure, and as
sets rose $209,898,391 during 1962
to a total of $2,392,378,808.
Cash dividends declared by
Crocker-Anglo during the year just
ended totaled $9,239,153, as com
pared with $8,126,744 in 1961.
After the addition of net oper
ating income, profits and recov
eries on securities and loans, and
other credits, and after the de
duction of dividends, losses on
securities and loans, loss provi
charges, Crocker-Anglo's capital
531 at the close of 1962, as con
trasted with $142,973,166 at the
end of 1961.
Capital slock at the 1962 year
end stood at $65,993,950, surplus
at an identical amount, and undi
vided profits at 13.137,681. Book
value per share based on the 6,
599.395 shares outstanding at the
end of 1962 was $21.99, as com
pared with $21.66 at the previous
year-end.
Crocker-Anglo, California's old
est national bank, currently oper
ates 122 offices in 74 California
communities, serving more than a!
million depositors and borrow
ers. At the end of 1961 the,
bank's svstem included 114 offices
in 71 California communities.
Dental Society
Elects Officers
New officers for 1963 were re
cently elected for the Klamath
County Dental Society.
At a meeting held at the Broil
er. Dr. Willard B. Dryden was
installed as president of the new
group. Others elected were Dr
(ieorge Glannahan, vice president;
Dr. Larl Nash, secretary-lrcas
urcr. and Dr. Donald P. (Noel
executive counsellor.
Outgoing president is Dr. George!
Nitschclm.
Beaver State Telephone
Announces Work Plans
Braver State Telephone Com-
pany made public a 1963 con-!
struct ion budget of $lRn.ono and
announced that the largest project
n( the year already was under
way. William Castle, Beaver State
manager, reported that Defense
Communications. Inc.. was low
bidder on the $4.1 4.7) Weslside
Idaho job in the Lakeview ex
change. Contract crews are replacing
the subscriber carrier system
serving the Weslside and Idaho
areas. The three carrier channels
are full.
Twehe miles of cable will be
installed In provide basic facili
ties lor the SO services which the
company expects lo provide West
side and Idaho residents through
1965. The completion deadline un
der Defense Communications'
contract is March 1.
Castle said thai the new budget
LESTER FOSTER
Foster Buys
Weast Firm
One of the newest men on the
Klamath Falls business front is
Lester Foster, who purchased the
Weast Service and Equipment
Company in November. The trans
action for the building at 155
East -Main and the business was
completed Nov. 19, and Foster
took over operation the same
day.
Warren Weast, the former own
er, operated the service station
sales and service company for
three years. Originally from Ida
ho, his future plans include set
ting up a similar type of business
in Boise.
Foster had previously been as
sociated with the ONC Motor
Freight System where he was
employed as an assistant fore
man for 10 years. A native of
Klamath Falls, he resides at 4319
Onyx Avenue with his wife, Bar
bara, a medical assistant, and
daughter, Vicki, 7, who is in the
second grade at Peterson School
He is a member of the Elks
Lodge.
Colby's Plan
Denver Trip
Mr. and Mis. Lynn Colby will
leave Thursdav. Jan. 17. to et-
tend the thrcc-dav recional con
vention of the Slate Farm Insur
ance Company at the Denver Hil
ton in Denver.
They will be guests of the com
pany at the convention, and plan
a vacation iaunt to the south
west following the convention.
Colby qualified for the special
trip as ton acent of his croup.
He also qualified in the top 20
per cent of the company national
BOOM IN SKIING
NEW YORK (LTD The ski
industry is looking for a record
season this year. The New-
Hampshire ski industry expert
lo ring ud $15 million in the
slate, or $1 million more than a
year ago. In Colorado, the indus
try anticipates grossing $50 mil
lion, against $40 million last sea
son.
allocated $30,000 for other ouUide
plant projects in the $5.00O-$'0.000
range in Beaver State's Lake-
Klamath County operating terri
tory. The company maintains ex
changes at Chemult, Chiloquin.
Fort Klamath. Lakeview, Pais
lev. Plush, Summer Lake and
Rocky Point.
All will share in the $WO.oon
earmarked for "routines'' in the
1963 construction outlay. This catc
gory is made up of items of less!
than IVfioo, embracing outside
plant, central office equipment
and building projects and land
and vehicle purcMscs.
Remodeling of the Lakeview of
(ices will be completed this year
at I cot of $5,200. and a $6,000,
emergency generator replace
men! is slated lor Lakeview, ac
cording to Castle, who added that
"refinement and expansion of fa
cililies will be the principal pur
pose of the company's 1963 ef
forts."
State Economy To Reflect Rise,
But Not Keep Up With Country
In 1963 the Oregon economy will
continue to improve gradually, but
at a rate less rapid than that of
the country as a whole, the
Oregon Business Review reported
in its December issue. The Re
view is published monthly by the
University of Oregon Bureau of
Business Research.
During 1962, the level of Ore
gon business rose consistently,
but the percentage of improve
ments was less than that experi
enced bv the entire nation, the Re
view said. Although most indica
tors of Oregon economic activity
went up considerably during the
vear, the slate's economic expan
noil was insufficient to attract a
net in-migralion.
The Review said the 1963 out
look for firms making products
based on wood is mixed. "T h e
major segment of this group of
firms is lumber manufacturers,
whose future appears rather dis
couraging from both a short run
and long run point of view.
The outlook for pulp and paper
and plywood is much belter, al
though 1963 will certainly not be
a year of unusual prosperity for
any of the firms using wood as a
raw material."
The type of construction that
will actively determine the level
of business activity in 1963 will
remain high, but probably will
not rise above the 1962 level, the
Review continued. Although there
are many large construction proj
ects under way, the largest of
which is the John Day dam, there
Bank Passes
Billion Mark
U. S. National Bank continues
to exceed the $1 billion mark in
total resources, according to year
end figures released this week.
Deposits were up more than $.6
million and now total $983,473,352
compared with $906,711,716 record
ed on Dec. 30, 1961. Loans in
creased nearly $77 million and
now sland at $504,017,359 com-l
pared with $427,073,452 recorded
one year ago.
The Klamath falls. Town and
Country, and Chiloquin branches
of U. S. National recorded total
combined deposits of $19,021,661.3;
according lo Lester C. OKield.
Klamath Falls branch manager.
1-oans and discounts for the bank's
Klamath County Branches totaled
$11,124,555.50.
TotaJ resources for the U.S. Na
tional system, with its 85 bank
ing offices throughout the stale,
were $1,079,346,587 compared with
SI.002.OH6.875 on Dec. 30. ljXil.'
The total resources figures is up
more than $77 million over last
year s total.
During 1962. U. S. National
opened branches in Gladstone.
Seaside Burlingame iPortlandi
and Stayton, and completed a new
building for the existing branch
in north Mcdlord.
Six additional new branches arc
currently in the planning or con
struction stage, two of which are
in Portland a north Portland!
branch on North Interstate at
Going St., and another to be lo
cated in the urban renewal dis
trict. Other new branches arc
scheduled in Eugene, Prineville
Lakeview and Salem.
New buildings are scheduled for
present branches in Bend, Madias,
Stayton, The Dalles, West Salem.
and Milwaukic Powell and Bur
lingame branches in Portland.
Home Show
Plans Told
Tlie annual Kiwanis-sponsored
Home Show has been scheduled
for the Klamath County fair-
rounds for March 1, 2, and 3.
Bob Gotshall has been named
general chairman for the event
which features displays of ' the
latest in home products.
The exhibition is planned from
noon to 9 p.m. Friday, March 1,
and Saturday. March 2. and from
noon lo 6 p m. on Sunday, March;
.1.
Booth space is now being ar
ranged and those desiring to se
cure space at the show are urged
lo contact either Oolshall or
Fred Ehlers. Gotshall is mana
ger of Monlcomery Ward. TL
4-3188. and Khlers at Swan Lake
Moulding. TU 4-5145.
I'RKSTRIPTIONS CL'T
NEW YORK 'I'PD - By lower
ing prescription prices from an av.
eraec of $3 09 lo $2 99. drug store
chains across (lie nation boosted
their prescription sales volume
13.1 per cent last year, according
to e survey by Chain Store Age.
are few planned projects in the
backlog.
Tourism will not bring as much
into the stale in 1963 as in 1962
because the Seattle World's Fair
was an attraction lo the Pacific
Northwest in 1902 that will
not have a counterpart in 13.
The Review said 1963 should be
a comparatively good year for ag
riculture. Outlook for crop income
First National Bank
Joins SBillion Group
Oregon became the 10th slate
in Ihe union to claim a banking
institution with deposits in excess
of a billion dollars when First:
National Bank of Oregon reported
year-end deposits of $1,002,158,197.
The all-time high deposit figure.
a new record high in loans out
standing and net earnings of over
six million dollars were reported
at the same time by Ralph J.
Voss, president.
Voss said First National joined
22 other leading banks in the
country in the billion dollar depos
it category.
Total deposits (or the 90-office
system were up 7.5 per cent from
1961 year-end figures of $932,499.-
uio. Loans ot $568,974,500 were
reported, which is an increase of
16 per cent from a vear ago. Total
resources of $1,106,199,295 com.
pared to $1,029,242,783 in 1961.
Net operating earnings in 1962
were $6,256,946, down $498,637 or!
7A per cent, from the figure
reported a year ago. Earnings per
share were $3.46 compared with
$3.73 in 1961. The decline in earn
ings reflected generally higher in
terest expense and operating costs
during the year, Voss said.
The Klamath Falls, South Sixth'
Street, Lakeview and Merrill
branches of First National Bank
o Oregon reported year-end de-1
posits of $35,330,376 and loans to
talling $25,603,736, according lo
R. H. Tisdale. vice president and
manager at Klamath Falls branch
At the same time he released
comparable totals for the branch
es for Dec. 31, 1961. On that date
deposits were $34,726,312 and loans
were $24,719,263.
BUSINESS EXPANSION A new first at Silver Lake is
the building materials line added by Silver Lake Mer
cantile, along with an enlarged hardware department.
Doyle Haynes, above, will handle the new responsibilities
in a 25 x 73 foot building located behind the present
store, which was enlarged in 1957. Bill Barracks, father-in-law
of Haynes, is owner of both businesses.
California Couples Buy
Two Big County Ranches
Bruce Owens Realty office, 134
North Seventh Street, has recent
ly completed two ranch sales of
sizeable proportions in Klamath
County.
The G. P. Wu ranch of 450
acres, near Bonanza, has been sold
lo Mr. and Mrs. Edward Down
ing of Gilroy, Calif., for more
lhan $100,000.
The Wu's are planning to re
tire from ranching and build a
home near the dairy ranch oper
ated by their sons.
The Downings recently sold their
prune orchard near Gilroy, and
have already moved into the Wu
ranch. The sale was handled by
Woody Bowers of the Bruce
Owens ollice.
Another California couple, Mr.
and Mrs. Goidon Breaker of Ojai.
Calif . traded an apartment house
and their home in Ojai. valued
at about tTAOOO (or the Gordon
Dolan rami), known as the Whis
pering Pine Ranch near Dairy.
It is 1.275 acres.
Breaker first came to this area
appears good and further livestock
adjustments should enable that
branch of agricultural activity to
improve its contribution to agri
cultural marketing receipts.
When it is completed the
Boaidman Project is expected to
create a considerable number of
jobs, but it is most unlikely that
this will occur in 1963, the Review
reported.
During the past year First Na
tional opened three new branch
es to bring its total banking of
fices to 90. The new branches
were Peninsula Center in North
Portland, Madras and Tigaid. In;
addition new buildings were con-l
structed in Ashland, 18th and:
Oak in Eugene and in the Gate
way District in Portland.
Plans for the new year include
opening of new offices in Stan
dard Plaza. Burlingame shopping
center. Oregon City shopping cen
ter and m the university district
of Eugene. New offices are un
der construction or contemplated
for existing offices at Madras
S.W. Sixth and Lincoln in Portland
and downtown Eugene.
The Klamath Falls and South
Sxith Street branches reported to
the comptroller, their deposits of
$22,332,009 and loans amounting to
$17,132,851. according to R. H.
Tisdale, vice president and man
ager at Klamath Falls, and My
ron E. Shannon, manager at South
Sixth Street.' Last year at the
same time they listed deposits as!
$22,299,174 and bans totalling $16,
554.672.
At Lakeview, J. B. Lampkins,
manager, listed his current de
posits as $10,214,989 and loana at1
$6,359,401. Comparable totals are!
deposits $9,815,062 and loans to-
tailing $6,158,455.
Deposits of $2,792,378 and loans
amounting lo $2,311,434 were re
ported by branch manager, Don
ald A. Pyle. at Merrill branch.
Last year the deposits were
$2,612,076 and loans totalled $2,-
006.136. I
to handle the plumbing contract
ing for the Falcon Heights homes.
They have moved to the Dolan
ranch where they are raising rcg
islered quarter horses and catlle
and the Dolans have moved to
Ojai lo manage their new proper
ties there.
Breaker is maintaining his
plumbing contractor interests in
California from his ranch head
quarters.
This transaction was also han
dled by Woody Bowers of t h e
Bruce Owens office.
PEN RALES 'BULLISH
FORT MADISON. Iowa (LTI
Unit sales o( fountain pens
and ballpeint pern during the
lft2 holiday gift season are ex
pected to set an all-time high
mark for the writing instrument
industry. Marketing analysts a:
Ihe Sheaffer Pen Co. predict an
increase of 5 to 12 per cent ovei
lhe 20 million pens that moved
over retail counters In the several
weeks before Christmas last year.
i,.,,?;..,
CELEBRATE ANNIVERSARY The 40th anniversary of the founding of the Modo-Bel
Creamery was celebrated Dec. 27 when the entire staff of the company enjoyed a din
ner party at the Y Cafe in Weed. A cocktail hour preceded the dinner. Mrs. Domini
ca Belcastro, who with her late husband, Joseph, established the business in 1923 was
special honored guest.
'V Va
ART LESLIE
Leslie Joins
Dick Reeder
A veteran in the clothing busi
ness. Art Leslie, has joined Dick
Reeder s Mcnstorc.
Leslie, a native son of Klam
ath Falls, has been in Lhe cloth
ing business here for more than
25 years
Ho currently resides at Rocky!
Point with his wife, Edna, and
son Robert.
He joined lhe sales staff all
Dick Reeders, Main and Fifth
streets effective Jan. 1,
OLCC Official
Will Retire
1 nugh R. Kirkpatiick, chairman
of the Oregon Liquor Conlrol Com
mission, announced today the
coming retirement of Harry Gar
vin, purchasing agent for the
OLCC for more than 27 years
Garvin's successor will be Rod
Jeffrey, personnel director for the
University of Oregon Medical
School for the past six years.
Garvin, a native of Pennsylvan
ia, came to Portland in 1920
and was employed Jy Willamette
Iron lc Steel Works prior to join
ing (he OLCC staff in 1934. He
has participated in the growth of
the commission from its first
arehouse at the east end of the
Burnside bridge in Portland, with
annual gross sales of six million
dollars, to Us present modern fa
cility in Milwaukic and gross sales
in excess of 50 million dollars.
Garvin will continue to make his
home in Portland, with frequent
trips to Cannon Beach where he
and his wife also have properly.
They have one son and four grand
children. Jeffrey, 48, was appointed
tlirough civil service promotional
examination. He was born in Se
attle, altendcd schools in Vancou
ver, Wash., and was graduated
from the University of Portland
with a bachelor's degree in busi
ness administration. Prior to en
tering state service, he was en
gaged in gold placer mining in
Idaho and continues to maintain
his mining claims.
Jeffrey holds the rank of com
mander in the U.S. Naval Reserve
with 20 years service, including
three years active duty during
World War II. He resides In Mil
waukie at 4705 S E. Aldercrest
Road with his wife. Marian, and
their son and daughter, ages 17
and 15.
COMPLETE
Let us supply the forms you need ... all types of
printed folders, circulars, letterheads, c hacks,
itaternents, snop-out form$, plastic binding, etc.
Guide Printing,
12th & Klamath
Belcastros
Celebrate
Anniversary
lhe 40th anniversary ot a dairy
industry that began as a small
milk route in the Weed area and
has now expanded to serve custo
mers in a two-county two-state
area was held recently at the Yj
Late m Weed.
The occasion was a dinner
party for the entire staff of the
Modo-Bc! Creamery which has
its headquarters in Weed.
It was here that in 1923 Mr.
and Mrs. Joseph Belcastro began
selling milk produced on their
ranch which was located about a
mile north of Weed.
Mrs. Dominica Belcastro was
honored guest at the anniversary
event, and presented her son.
Pete, general manager of the op
eration, with the original bottle!
tiller which she and her late hus
band used when they started their
business.
The late Joseph Belcastro re-'
tired in 1946 and his four sons!
took over operation of the dairy
business. In addition to Pete, Joel
Belcastro is plant superintendent
Tom Belcastro is truck superin
tendent, and Elmer Belcastro is1
the manager of the Klamath'
County branch which headquar
icrs nere in Klamath Falls.
ine Belcastros built a new
modern structure on East Main
several years ago, and about five
years ago constructed a newi
creamery in Weed, classed as
one of the most modern of
kind in the industry,
Fifty eight persons, including!
several invited guests, were prcs-i
cnt for the anniversary party.
Wood's Drug
Offers Prizes
Fabulous prizes are now being
offered in the latest Rexall Super
Plenamins Sweepstakes now going
on at woods Ilcxall Drug Store,
Tcnlh and Main. For the win.
ners, it will be ' Money in the
Bank." with up to $50,000 in priz
es. 1,010 prizes in all.
"First prize," explained Will
Wood, owner of Wood's Rexall:
Drug Store, is a $10,000 bank ac
count plus an extra bonus of
$15,000 when the winner has in
cluded a box top from a Rexall
Super Plenamins special combina
tion package lor the. substitute
as stated in the Official Rules of
the Sweepstakes).
According to publicity just re
leased, the second to 10th prizes
run from $5,000 to $1,000 in bank
accounts. The 1.000 runners-up
will each receive a $10 Rexall
merchandise certificate, whjch
they can "spend like money" in
their Rexall Drug Store.
To enter, Rexall customers
merely ask about the special com
bination super plenamins pack
age now being offered at a big
savings, and pick up their free
entry blanks with official rules.
This will be for a limited time
only, since this offer ends March
31.
Some lucky Rexall custo
mers, wood said, are going to
win money to send their kids
through college, nay off the mort
gage, take that longed-for trip!
around the world, or help insure
a care-free retirement. It's a
great idea!"
Inc.
TU 4-5173
..t'
If
LA
RICHARD BODEN
oden Named
b Bank Post
Richard L. Boden. assist Ant'
manager ot U.S. National Bank's.
Grants Pass branch, has been
transferred in the same capacity.
to the Town and Country branch,
according to E. 3. Kolar, presi-,'
dent of U.S. National.
Boden, who joined U.S. National ,
in 1Q5.1 ac ft mimVif nf thft Wnrlr.
College Plan, is a 1958 graduate
of the university of Oregon and
an Army veteran.
Before going to the Grants Pass
branch in 1960, Boden worked at
the Metropolitan, West Slope and
Beaverton brandies. His Grants
Pass civic affiliations included the
United Fund, Red Cross, Boy
Scouts and Active 20-30 Club.
its,
Boden is married and has ono
daughter.
CHEMICAL PROFITS
CHICAGO !LTI The chemi
cal industry is "undergoing a
"marketing revolution" in which
total company profitt are the
guiding measure, the 53th annual
meeting of the American Institute
of Chemical Engineers was told
recently.
"Declining proflls have been
substanthlly increasing the mar
keting effort we have put behind
our existing production," said H.
M. Strags, of McKinsey It Co., . -Inc..
New York.
"At the same time, we have-.
been adding new products at a .
rapid rate and there is no escape -from
the conclusion that this mar- .
keting effort directed toward
new products has not enabled
us to hold company profits from -declining.
Certainly, if we are to
reverse this downward trend.
our marketing ability decisions
will have to contribute a higher
rate of return on investment and
on sales."
a Wards Special
Service for . . .
BUSINESS FIRMS
INSTITUTIONS
GOV'T AGENCIES
WARDS OFFERS
EVERYTHING IT
SELLS AT FULL
COMMERCIAL
DISCOUNTS
Werdi giont purchoslng power
meons lower prices ot com
mercial discounts for all quali
fied purchasers. Choose from
theuiends of quality Items . . .
becked by nation-wide delivery
ond service. Call Words first!
phone today
TU 4-3188
CONTRACT AND
COMMERCIAL SALES
DEPT.
mmmm
MEW.