'Se-
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NEW LAKEVIEW BANK The new Lakeview branch of
U.S. National Bank will not be recognized as the former
occupant of its building, a grocery store, when it opens
for business early next year. Duncan Construction Com
pany, Klamath Palls, is contractor on the extensive $70,-
HERALD AND NEWS, Klamath Falls, Ore.
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tkh K ! 'H"' - if" s If ISC !
UNDERWOOD DISPLAY A display of the latest in Underwood typewriters and busi
ness machines was held last weekend in the display room of Molatore's restaurant,
sponsored by Jones Office Supply, 629 Main. Shown here with the display, left to
right, are Pierre Hardy, Underwood representative from New York City; Bill Faught
and Lowell Jones of Jones Office Supply.
fL ' , ' ' S
GEORGE L. BULAND
SP Official
Retires
George L. Buland, vice presi-
dent and general counsel of the
Southern Pacific Company, will
retire Feb. 28. after 43 years of
association with the company.
A graduate of Reed College in I
Portland and the Columbia School
of Law, where he was an editor
of the Columbia Law Review. Bu
land entered law practice in Port
land in 1919 and shortly after
ward joined a legal firm repre
senting the railroad. In 1939 he
became SP's assistant general
counsel in New York.
Buland came to San Francisco
in 1945. and was named general
counsel for Southern Pacific three
years later. He was named vice
president in 1951. Currently, he
is a director of Southern Pacific
and a member of the executive
committee.
Buland is a trustee ol Heed horsepower twin installation, an
College: a member of the law a.piirpose open craft, the corn
committee of the Association of pletcly equipped OMC 17 Deluxe,
American Railroads; and a past a cusiom ninabout and a utility
member of the council of t h e mo(jc x
public utility section of .ne Amer- The award-winning OMC 17 Dc
ican Bar Association. He belongs uxc is )ltlC(j oul wtn an ncces
to the Pacific Union Club and accessories ano built-in lea
The Family in San Francisco. jtureSi Power is furnished by the
the Burning Tree Club in Wash-'gyrj engine with stern drive
inglon. and is a member and unjt The five-passenger boat is
past president of the Menlo Coun-jcapane 0 speeds over 30 miles
try Club in Redwood City. ip,,r nour.
Don Divens. of Divens Marine
1 1- inn-n tti ks SPP'y- PO'Hed out that the OMC
I.LATHr.R Tll.hS hun deljvcrs a slab,Ci dry cvcl
NFW YORK il'Pl' Leather and comfortable ride and is de-
floor tiles comparble in cost to
carpeting are cushiony underfoot,
durable, absorb sound and can
be washed with a mnp dipped in
nan nr detercent suds, claims
the Soap and Detergent Associa-'!he
Unn.
Mil lilir:!
'ft t Hi'- I.) IU
Business
By Floyd
Sunday,
I 1 fit: i! !S I 1 j- J
3 4! Ji Mtfiid
Pacific Fruif, Produce
Shows Big 7962 Boost
Pacific Gamble Robinson Co.,
(dba Pacific Fruit & Produce Co.
locally) the nation's largest dis
tributor of fresh fruits and vege
tables, had net income of $1,
243.371 in the year ended Dec.
31, 19S2, J. G. Scott, president,
reported today. This was equal to
$1.03 pershare on 1.209.339 shares
outstanding and compared with
$504,545 or 42 cents per share on
1,185.626 shares in 1981.
Scott said the 146 per cent in
crease in net was realized despite
a 2.3 per cent drop in sales w hich
totaled S191.508.059 compared with
$195,953,449 in 1961. He attributed
Die rise in earnings to a reduction
in operating expenses plus a
better margin of profit on sales.
The 1962 sales were up slightly
in the trucking and shipping divi
sions and lower in the other opera-
lions.
Commenting further on the com
pany's operations. Scott said.
"Last year $1,115,000 was spent
for new plant and equipment while
the depreciation for 1962 totaled
$1,688,000. This provided $573,000
Divens Adds
Boat Line
Djvcns Marine Supplv, 121 N.
SprinR S(I.cet Klamath Falls.
jhas awardK) (he coveted
fr.n..hi (or ,n. 0.c Roat5 iinc
roatiirinR (he first completely
e(.uiDncd three-point inboard run
about.
The unique hull will take to
the water Ihis year in five excit
ing versions including the 1fi
signed for every type of water
and lor every boating activity,
A specially designed trailer
featuring the latest tilting, towing
and braking innovations fills out
complete package for OMC
1 80815
000 remodeling job. Exterior cedar siding will be fea
tured as a tribute to the area's lumber industry. This
artist sketch by Morrison, Howard and Starbuck shows
the finished view.
Review
L. Wynne
March 3, 1963
PAGE 1
of additional working capital.
"Income taxes, including Fed
eral, Canadian and State, totaled
$1,382,000 or-$1.14 per share in
1962. Social Security Taxes were
$781,000 or 64 cents per share. Oth
er taxes totaled $1,274,000 or $1.05
per share, making the total tax
bill for the year $3,437,000 or $2.84
per share. This was 2.7 times
the amount of the company's net
income.
"The Congress is now consider
ing a five per cent reduction in
the corporation tax rate from 52
per cent to 47 per cent. More than
half of this reduction would be
offset by the already enacted
13 increase in Social Security
taxes, and the balance would be
more than eaten up by the in
creases in state, county, truck
unemployment and other taxes.
"We should not delude ourselves
that we are going to have lower
total corporation taxes. The total
tax trend is up, even if the
corporation rate is eventually re
duced as now proposed."
The report disclosed net work
ing capital of $19,395,000, an in
crease of $635,000 for the year.
Net working capital per share was
$16.04, as compared to $15.82 per
share a year earlier.
The book value of the stock on
Dec. 31, 1962, was $16.88 per
share, after paying stock divi
dends during the last eight years
which have amounted to 22 per
cent.
Receipts Rise
On Bank Debits
Bank debits for the Klamath
Falls area including Klamath and
Lake counties, increased in Jan
uary, 1963. compared to January,
1962. the Bureau of Business Re
search at the University of Ore
gon has reported.
Debits (or January, to
taled $')9.4.)7.922. For December
1962, the total was $41,924,904, and
for January, 1962, the total was
$16,973,218.
Oregon, wilh 25-1 banks reporting
had an increase in bank debits
in January, 1963, of 3 9 as com
pared with December, V.r2. and
an increase ol 8 1 compared
with January, 1962.
Total debits for Oregon in Jan
uary', 196.1. came to t2.397.825. 1.V1.
For December. 1962, debits to
taled $2.3IB.3fi3.033 and tor Janu-
ary. tH2, tlx total as $2 213.242
I1 -
...n W. T
Bank Joins
On Bond Bid
U.S. National Bank was tlic
successful joint bidder with Myth
and Company, Inc. for $125,000
Central Oregon Area Education
District general obligation bonds
The issue matures serially from
1964 to 1981, and was sold at an
effective interest rate of approx
imately 3 01 per cent.
Proceeds of the issue, together
with $225,000 from the State De
partment of Education, will be
used to construct and equip new
science and academic center
buildings for Central Oregon Col
lege, Bend. The buildings will be
located on donated land on Aw-
brey Heights, 145 acres in size.
situated about 1'2 miles west of
the city center. Annexation of the
college site to the city is antici
pated in live near future. The citv
has agreed to provide an ad
quale water supply in the inlcrim.
The project is the first phase of
a much larger development, esti
mated to cost more than $1 mil
lion. Education beyond the
high school level will be provided
for a population exceeding 42.000.
The district includes all of Jef
ferson, Crook and Deschutes coun
ties and parts of Wasco, Lake
and Klamath counties an area
containing approximately 9,500
square miles.
PPL Holds
Water Clinic
Increases in use of sprinkler
irrigation systems will minimize
drouth hazards and boost crop
yields per acre, according to
speakers at a special irrigation
clinic sponsored by Pacific Power
Si Light Company.
"The expanding population of
West Coast states assures a grow
ing market for agricultural prod
ucts and will necessitate a chang
ing agricultural economy for the
region, according to Lee Han
sen, agricultural sales director
for Pacific Power.
He told the irrigators lhat good
sprinkler irrigation involves more
than just applying water to the
cropland or orchards.
"It must be teamed with good
agricultural niangement, fertiliz
ers, crop rotation and seed selec
tion," lie said.
Relationships of soils, crops
and moisture and climate were
outlined at the session by other
PP&L specialists and farm ex
tension service speakers.
Andrew Schmidt, an agricul
tural sales engineer (or PP&L,
discussed layout and design of ir
rigation systems. His talk pro
vided the irrigators cost - saving
tips on motors, controls, and
equipment maintenance and pro
tection.
Electric service applications
were also discussed by local
PP&L sales representatives.
PP&L official gave credit to
the many individuals and compan
ies which participated in the ir
rigation clinic. J. W. Kerns, In
terstate Pump, Don Potter Ma
chinery, Floyd A. Boyd Company.
Tulelake, and Valley Pump all
donated equipment for use.
Walt Jendrzejewski, county agent,
was assisted by representatives
from the Soil Conservation Serv
ice. Gene Gross, Klamath Experi
ment Station: Bert Hoylc, Califor
nia Experiment SLation and oth
ers. LOST TIME
CHICAGO 'UPli - The total
lime lost in 1962 from accidents
lo workers amounted to 280.000
man-days, the National Sa'ctv
Council said.
WE HAYE MOVED TO . . .
FIRST FEDERAL BLDG.
528 Main Ph. TU 2-2902
Our Sorvices Include
INCOME TAX BOOKKEEPING
STENOGRAPHY MIMEOGRAPHING
PERSONAL PLACEMENT SERVICE
BETH ANDERSON OFFICE SERV.
AND EMPLOYMENT AGENCY
Bank Plans
New Branch
At Lakeview
Construction of the new Lake
view branch ol L . National
Bank is now underway by Dun
can Lonstiucuon Cu., Klamutni
Falls contractor, reports E. J.
Kolar, bank president.
At an estimated cost of $70,
000, plans call for the complete
remodeling of a structure former
ly occupied by the Safeway store
located at Main Street and First
Avenue. Kolar said the branch
should be opened this summer
with iull-service banking.
Banking facilities will include a
large entrance lobby for custo-1
mers, tellers booths, officers area,
conference room, safety deposit
vault and coin vault with stand-
up booths. A large employe lunch
room with complete kitchen facili
ties is also planned.
Both the main floor and base
ment of the building will cover
4.500 square feet. Off-street park
ing will be provided, with space
allowed for the installation of a
future drive-up teller w indow.
Basic construction is cement
block exterior walls with rein
forced concrete basement floor
ind walls. Portions of the exte-!
ricr and interior walls will have
vertical joint cedar siding finish
lo express the use of wood in a
lumber industry community, ac
cording to Kolar.
Architectural firm is Morrison,
Howard & Starbuck. Klamath
Falls. Interior design is the selec
tion of Lila Colwell, AID, Port
land. BILL STEPPE
Operation Changes Set
In Klamath Gas Firms
Bill Steppe has been appointed
merchandise sales manager (or
Southern Oregon and Siskiyou
County divisions of Klamath Gas
Company, it was announced by
Robert E. (Bob) Maloncy.
The change was effective im
mediately.
Steppe will assume the duties
of the new post for Klamath Gas
Sale Listed
At Las Vegas
Military equipment purchased
at a cost of $5 million will be
knocked down by the Defense Sup
ply Agency at a public auction
March 13 and 14 at the Conven
tion Hall of the Dunes Hotel in
Las Vegas, Ncv.
The material on sale will con
sist of 600 items located at 25
military installations in various
states from Cahlornia to Massa
chusetts. A variety of properly which
has immediate private industry
application will be offered on
the first day. 70 2'j-ton cargo
trucks are included in the wide
ange of military items that will
range Irom doming to marine
equipment. The second day will
see over 200 pieces of quality shop
equipment of all types knocked
down to the highest bidder.
A spokesman for the Surplus
Sales Office, an clement of the
Defense Supply Agency, advised
that all of the items that will
go on the auction hlock have
been screened lo obtain maxi
mum utilization of Ihe material
within hte government and with
in friendly foreign governments.
The screening is also designed
lo assure a sound mobilization
base and to prevent concurrent
procurement and selling of the
same types of items.
A free catalog, listing the mer
chandise and its location, can be
obtained by writing the Defense
Surplus Sales Oflice, Department
B.. San Diego 32. Calif.
International Paper
Begins Pension Plan
LONGVIEW Pension plans
(or approximately 3,000 of the em
ployes working in International
Paper Company s Long-Bell Di
vision have been announced. The
new plans are now in effect, being
retroactive to June 1, 1962.
This important fringe benefit is
the result of collective bargain
ing and careful planning by In
ternational Paper with the West
ern Council of Lumber and Saw
mill Workers AFL-CIO and West
ern States Regional Council No. 3.
- International Woodworkers ol
America - AFL-CIO.
There are two plans covering
all of the Long-Bell Divisions
Western Operations' hourly paid
employes, one for Law and the
other for IWA memners. tins in
cludes the company's Longview
and Chclatehie, Wash.; Vaughn
and Gardiner, Ore.; and Weed.
Calif, operations both plants
and woodlands. More than i.boo
employes became members of the
I-P - LSW plan, and 1.000 em
ployes entered the I P - 1WS plan
on the plans' effective date.
Employes don t pay any part
of the plans' cost . . . the com
pany fooLs the bill. The plans
potential means dollars and cents
(or the employe.
Purpose of the plans is to pro
vide a regular monthly retire
ment pension for all employes
wIk are members of the plans
and remain in service until re
tirement under the plans' pro
visions. These retirement bene
fits arc in addition lo any social
W. E. BOONE
Company and its affiliates. Do
mestic Gas Company at Mcdford
and Grants Pass and Norcal Gas
Company at Tulelake.
He will have his headquarters
at Ihe new 205 Riverside Drive
address of Klamath Gas Com
pany.
In another move. Maloney re
ported that William E. Boone.
formerly division manager at
Mcdford, has been appointed gen
eral manager of operations fori
the Klamath group of companies
also effective immediately.
The Booncs will make their
home in Klamath Falls.
Build Permits
Show Increase
Building permits increased in
Klamath Falls in January, 1963,
compared to January, 1962, the
University of Oregon Bureau of
Business Research has reported
In January, 196.1. the total was
$169,995, compared to $7,635 in
the same month last year.
Building permits from 147 iden
tical reporting centers in Oregon
totaled $16,709,705 in January 1963.
This was -16.1 per cent lower than
in January, 1962.
The state total in January, 1963,
included $10,296,158 for 769 new
dwelling unils; $.'S,7IW,625 was for
non-residential construction, and
$2,625,021 for additions, alterations
and repairs of existing struc
tures. For the same month last year,
the $19,908,596 total of permits
was composed of $9,367,553 for
D46 new dwelling units; $3,091, 1BI
for non-residential construction,
and $2,449,562 for additions, alter
ations and repairs to existing
structures.
CO M-M
i 1 1 1 1-J
Spciliiing in all typei of printtd fofdfri, circular, ItHtr
htoas, hcki, itaUmtrtfi, mop-out formi, plaitic bindings,
tc.
Guide Printing
12th & Klamath
security benefits for which the
employe may be eligible.
There are four basic plan bene
fits . . . normal retirement pen
sion due at age 65, early retire
ment pension, disability retire
ment pension, and vested retire
ment pension.
Optional benefits for survivors
are available under both plans.
Employes must have a min
imum of five years of creditable
company service to be eligible
(or any of the benefits offered
by either the I P LSW or I-P-1WA
plans.
In paying the entire cost of ihis
program, the company makes all
contributions necessary to provide
the employes benefits and also
provides and pays for all services
required in administration of the
plans.
All contributions by the com
pany are paid into a trust fund
maintained with Wells Fargo
Bank, San Francisco, Calif.
The plans will he administered
by the executive secretary,
George W. McGaw, assistant
treasurer of International Paper,
subject to the direction of a joint
Pension Committee.
Heating Firm
Owners Set
Open House
Tluee truck wholesale distribu
tors for Standard Oil Products
have incorporated as Klamath
Oil Heat, Inc. They purchased
Lite business, ..formerly known as
Dunn's Heating Oil from Ralph
Ross in October of 1962.
Final incorporation, however.
was lust completed, and
an open house is set for all next
week at the new locAn of the
liealing enterprise at22 South
Sixth Street.
The three owners are Al Stone
and Ernie Beaudry, Standard Oil
product distributors for 15 years,
and Rex Morehouse, 11 years in
the same business.
Their plans are lo continue
truck wholesale distribution of
Standard Products in addition tol
their new enterprise.
Barbara Stone and Taylor High
will handle the office business of
the firm.
The public is invited to free
coffee and doughnuts, this week
al the office. 'i'
Wall Street
Chatter
NEW YORK (UPI) Econo
mist Eliot Jancway says the sav
ings & loan business is in t
squeeze and to get out of it, it
ir preparing the ground for a push
to raise the government gu.-ron
tec on deposits from $10,000 to
$25,000.
He thinks they have a pretty
good chance of getting Congress
to go along and if they do "the
result will obviously be to pose a
serious problem for both the com
mercial hanks and Ihe savings
banks." Janeway says both groups
would be faced with major, un
postpnnahle decisions lo get out of 1
some fields and inlo others.
L. O. Hooper, the W. K. Hut-
Ion & Co. analyst says some of
the characteristics of dangerous
markets are: widespread opti
mism and high expectations, ram
pant speculation in risky, low
ipriced issues, a plentiful supply
of "new slock issues, fast rising
prices and a sharp increase in
the volume of transactions. He
says "the exact opposite of these
condiilons recently has been ob
tained."
Goodlwdy & Co. says continua
tion of tile current market con
solidation should serve to further!
establish the validity of existing
values for the longer-term inves
lor. However, the house says
price premiums purely for "glam
or, or lor so-called Hedges
against inflation, should be
avoided.
I1F.VF.IU-K
MIAMI lUPll A new wake
up service, Rise and Shine, is of
fering patroas free calls by read
ing them paid commercials.
ERC I AL
Inc.
TU 4-5373
1111 m.:-r,nmmmimw9 .
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( Y - s"iYv
Vol'
" viva mi. i
. V ,... .I,,...,, 1 Li, - - r 1 1111 1 hut I
WINS POT OF GOLD Ed Carte, right, Route 3, Box
1057, Wocus, came within a single penny of guesting the
amount of money in the Pot Of Gold in a recent primo
tion of Thomas Seles and Service, Dodge dealer, 424
South Sixth Street. Carte tells building materials. Ha
guessed $103.33 and the correct total was $103.32.
Here, Wayne Keefer, tales representative, handt Carte .
the bag of gold as first priie. i
Banks To Commemorate
Century Of Operation
Oregon banks will join with all
other commercial banks of the
country during 1963 in observing
the centennial of commercial
banking, by carrying on activities
to focus the attention of the
state on the important role that
banks have played in local com
munity progress.
In making the announcement,
M. L. Walden, president of the
Oregon Bankers Association, de-
lared that Oregon banks are
among the most progressive in lhe
entire country. He said the
marked growth of Oregon banks
in recent years is a true baro
meter of business in the area.
For example, he said that in
Ihe past 10 years resources of
Oregon banks have jumped from
$1,846,974,000 lo $2,737,362,000. In
the same period the 174 banking
offices at year-end 1962 is nearly
double the 91 offices sctving Ore-
gonians 10 years ago.
On Feb. 23, 1863, President
Abraham Lincoln signed inlo law
the National Currency Act, which
gave the United Slates its first
uniform national currency, and
created n now system of na
tionally chartered banks which
took their place beside the al
ready established slnte-charlered
banks. Thus, Hie act of 1863
marked Ihe beginning of our pres
BARBERSHOP OPENING A large parking area will be',
welcomed by the customers of the new barborshop, rest
room, and thowert opened recently by Gens Henderson
in Dorris. The butinost is located in the Woodie Wilson
Building at First and Main streets.
Attends Meet
Mr. and Mrs. John Houston are!
currently alleixling the National
Leader's conference of Equitable
Life al Coronado, Calif.
Houston attends as a member
of EquiUiblc's Million Dollar
Club.
He will act as a panel moder
ator of the conference which will
discuss all phases of business pro
tection, pension and estate plan
ning.
One of the honored guests will
be Dr. Jonas Salk.
GUARANTEED
TRUCK
SERVICE
AND REPAIRS
We're Specioliiti on
4 whee! drive Willys
'Jeep' vehicles, but we
or equipped to serv
ice all moket.
JOE FISHER
Lincoln, Mercury, Comet
Willy 'Jeep' vehicles
77 S. 7th Ph. 4-1104
lmrency Phett
Charlie mf, 3-4fJI
ent-day dual commercial bank
ing system.
This act did away with the
previous system of paper money
issued by individual banks, and
provided means ' - supervision
and controls leadii.g to a sound
ly based banking structure. It
was a first step in "Progress
Through Service A Century of
Commercial Banking," the cen
tennial theme to be observed by
all. commercial banks.
Dorris Barber
Shop Opened
DORRIS A new business was
added to the downtown area of
Dorris when Gene Henderson re
cently opened his barbershop,
rest room, and showers in the
Woodie Wilson building on the
corner of First and Main streets.
A large parking area Is provided
(or customers.
Henderson has practiced h i s
trade in Alturas, Tulelake, and
most recently in Yrcka.
A native of Dorris, he was
graduated wilh the class of 1943
from Ihe Butte Valley High
School in Dorris. He and his
wife, Betty, are the parents 0
two small daughters.
NEW.
O
a Ward
s special
Service for . . .'
BUSINESS FIRMS
INSTITUTIONS
GOV'T AGENCIES
! WARDS OFFERS !
! EVERYTHING IT J
! SELLS AT FULL
! COMMERCIAL
j DISCOUNTS
Words o'ont purchasing power
means lower prices ot com- ,
mercial discounts for oil quoll
tied purchasers. Choose from
thousands of quality Items . . .
backed by nation-wide delivery
and service. Call Wards first!
phone today
TU 4-3188
CONTRACT AND
COMMERCIAL SALES
DEPT.