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About Herald and news. (Klamath Falls, Or.) 1942-current | View Entire Issue (Sept. 29, 1963)
fMIIMp fiLJ niu livil M -J ONE BILLION IN ASSETS A now milestone of $100 billion in assets was reached re cently by mombers of the Federal Home Loan Bank System of which First Federal Savings and Loan, Sixth and Main streets, is a member. The organization here was chartered by the Federal Home Loan Board on Aug. I, 1934, with assets of $5,143 and has grown to the point where assets now surpass $23 million. Top view shows the current structure and lower view shows the first buildinc, of the institution, also lo cated on the corner of Sixth and Main as it looked prior to the complete remodeling into the modern new structure above. Savings And Loan Firms Celebrate Billion Mark "A tiny house, only 11 by 15 feet, stands at 4276 Orchard Street in Frankford, Jenn., a suburb area of Philadelphia. - In 1831, Comly Rich, a comb- maker, and member of the town vwalch" borrowed $375 to build (his small house. Three years Inter, in 1834, he borrowed an other $125 to add a lean-to kitch en to it. , Rich was the first man on rec ord to make a home loan from a Savings and Loan organization in this country. He borrowed from the Oxford Provident which then had 37 members and a net capi tal of $500. Today, 132 years later, Savings and Loan institutions, members of the Federal Home Loan Bank System, reached a milestone of $1 billion in assets. Basis for the expansion of the institutions which fostered the amazing growth were laid in 1932 and 1934 when Congress created the Federal Home Loan Bank system and the Federal Savings and Loan Insurance Corporation. The record of growth of the First Federal Savings and Loan Association in Klamath Falls has closely paralleled the national pic ture. The local association was formed and granted a charter on Aug. 7, 1934, and became insured by the Federal Savings and Loan Insurance Corporation on Feb. 5, 1935. Total deposits of the local or fianization as of Dec. 31, 1934, were $5,143, and the first divi dend paid was $29.92. .i IUY BUSINESS New owners of the Canvas and Nylon Shop on South Sixth Street, next to Little Sweden, art Jim Herbert, left, and Ward Friedman. The two pur chased the business from John Stirling, and have taken over operation, The shop specializes in irrigation dams, canvas and nylon products of all types. i Five years later, the local as sociation showed deposits of $747, 169 for a gain of 452 per cent. The greatest period of growth came after world War II. By 1949, deposits had reached a to tal of $5,652,705 and 10 years later, savings had soared to $19.- 261,942. From the first dividend of $29.- 92, the amount returned to sav ers during 1959 totalled $637,512, and as of June 30, 1962, this divi dend exceeded $1 million. By June 30 of this year, total savings reached an all-time high of $25,499,717 with total assets also at a record $28,434,970. First Federal specializes home financing programs for buying or building homes as well as sav ings plans insured by Federal Savings and Loan Insurance Cor poration, according to Van S .Mollison, association executive secretary. He indicated, also, that the association is looking forward confidently to new goals, new to tals and new progress. GRAIN CAIN DENVER UPli - A new 2'.i million-bushel grain elevator op ened recently here by Cargill Inc. w ill double that city s ca pacity as "gateway to the West" for food and feed grains. BI I.BS SUFFER NEW YORK (UPI'-Last win ter's severe winter in Europe is expected to reduce Holland's 1963 flower bulb exports by 25 per cent to 30 per cent from 1962. hi LJl WILLIAM A. HUGGINS W. Huggins Heads Bank William A. Huggins, native Ore- gonian and a former vice presi dent of the United States National Bank of Portland, has been elect ed president of the First Nation al Bank of Oakland. Calif. Huggins was manager of the Klamath Falls branch of the U.S. National Bank at one time, and left here for a post in the Port land office of the bank. e left Portland in 1961 to be come vice president of the First National Bank of Hawaii where he supervised 37 branches, prior to accepting his new position in Oakland. GUIDE NEW YORK UPI - There's no need for windshield wipers on spacecraft, but the next astronaut sent up may have devices on his wind-screen to tell him which end is up and whatever else is neces sary for orientation. Spcrry Rand Corp. is studying the feasibility of devices that would project at titude information in the form of horizontal and vertical lines and colored dots on the spacecraft's windshield. lt-r y K;-:uv-.s.,i ,hi COMPLEX Let us supply the forms you need ... oil types of printed folders, circulors, letterheads, checks, statements, snap-out forms, plastic binding, etc. Guide Printing, 12th & Klamath Totals Up For City Building permits increased in Mamath Falls in August. 1963. compared to August, 19ti. the University of Oregon Bureau of Business Research has reported. in August, 1963, the total was $582,200. compared to $363,095 in the same month last year. Building permits from 149 iden tical reporting renters in Oregon totaled $2o.431,5Sl in August 1963. This was -61.7 lower than in Au gust. 1962. The state total in August, 1963, included $14,666,669 for 1.191 new dwelling units; $6,524,034 for non residential construction: and $4, 240,873 for additions, alterations, and repairs of existing structures. For the same month last year, the $06,453,900 total of permits was composed of $14,935,515 for 1,207 new dwelling units; $43,539, 552 for non-residential construc tion; and $7,978,833 for additions, alterations and repairs to existing structures. Bank Debits Show Drop Bank debits for the Klamath Falls area including Klamath and Lake counties decreased in Aug ust, 1963, compared to August. 1962, the University of Oregon Bu reau of Business Research has re ported. Debits for August, 1963, totaled $36,774,565. For July, 1963, the to tal was $38,932,164, and for Aug ust, 1962, the total was $38,132,330. Oregon, with 266 banks report ing had an increase in bank deb its in August, 163 of plus 0.8 per cent as compared with July, 1963, and an increase of plus 4.6 per cent as compared with August 1962. Total debits for Oregon in Aug ust, 1963, came to $2,553,914,556, and for July, 1963, the total was $2,534,208,805. For August, 1962, the total came to $2,442,397,257. Company Hosts Paul R. Winter Recently Paul R. Winter. 331 North Tenth Street, was honored at a special luncheon in Eugene hosted by his fellow New York Life agents in Oregon. The occa sion was Paul's 30th anniversary representing his company in the Klamath Falls area. Besides the many congratula tions bestowed upon Winter, Gen eral Manager Curtis S. Church, Eugene, presented him with a framed miniature touring car of early vintage. Tins was to sym bolize Winter's pioneering spirit and his trips down many a dusty road" during his early days with New York Life. Winter responded that the past 30 were wonderful years for him self and his wife, Ruth, and that he's looking forward to the next 30 in the service of his many friends and clients. - 1 SERVICE HONORED Twenty years of employment with the Pacific Power and Light Company was recog nized by PP&L officials at a recent meeting in Alturas. The honored employe was Pauline Ash, bookkeeper at the Alturas office, who is shown here receiving her 20 Vtar service pin from Al Bauer, PP&L general manager. "Polled cattle" are those with no horns. . Inc. TU 4-5373 F. E. "JACK" HOLT Holt Heads Two-County Bank Group New president of the Lake- Klamath Bankers Group of the Oregon Bankers Association is F. E. "Jack" Holt, executive vice president and manager of the Bank of Klamath Falls. Holt was named head of the group at the recent annual meet ing held at the Indian Village -in which was attended by 51 per sons. Other new officers elected were James D. Monteith, assistant manager, Klamath Falls Branch of U.S. National Bank of Portland, and Frank Tomic, cashier of the Bank of Klamath Falls, was picked for the secretary-treasurer post. Outgoing president J. B. Lamp kins, manager of the Lakeview branch of the First National Bank of Oregon, presided at the session. C. E. Seavey, public relations ex pert for Pacific Northwest Bell, Portland, spoke on "Communica tions in Space." Other speakers in cluded Guy C. Rea, first vice presi dent of the Oregon Bankers As sociation and senior vice presi dent of the U.S. National Bank of Portland, and George W. Mlm- naugh, state director of the Sav ings Bond Division. Hire For Fall Drive Launched SALEM (Special) The Oregon 'State iEmpIoyment Service an nounced recently a Fall Hire Now campaign to help farmers householders and other employ ers find qualified workers to help cleanup and fixup for fall end winter. Householders looking for yard- workers, domestics, cleaners, and babysitters should contact their local Employment Service office. fnnlynl Ihft Vmnlnvmpnt Sirv- ice, loo, for farm workers, nut: pickers, (arm machinery opera tors and other qualified work ers of all kinds, both part-time and full-time. GUARANTEED TRUCK SERVICE AND REPAIRS We're Specialists en 4 - wheel drive Willys 'Jeep' vehicles, but we are equipped to serv ice all makes. JOE FISHER Lincoln, Mercury, Comet Willys 'Jeep' vehicles 677 So. 7th Ph. 4-1104 fmtrgtncy Phonal Chotlio Romp, 2-4951 Dedication Service Set For Gardens Eternal Hills Memorial Gar dens and Mausoleum on the Mer rill Highway will be dedicated Sunday, October 6. The public is invited to attend the orocram wntcri Begins at 2 p.m. ine Gardens, started In July 1960, one half mile south of the Merrill . Lakeview Junction Is owned and operated by Mr. and Mrs. fcdward J. White, former residents of Grants Pass who have had years of experience in cemetery management in Ore gon. Idaho and California. Gary Mack of KAGO will en- cee the program. The Kinasley Field Color Guard will dedicate the flag. Rev. Freeman Schmitt, pastor of Bible Baptist Church will give the invocation: Lee Shafer, minister, Suburban Chris- Han Church, will give the dedication address followed by William B. Sweetland, publish er of the Herald and News. who will also speak. Hie closing aaarcss wilt be by Ken lAUison, Klamath County commissioner. The benediction will be given by Rev. Sherman Moore of Pilgrim Holiness Church. Two choir numbers are planned. Councilors on the Eternal Hills Memorial Gardens staff are Nor ma Uetiings, Alice O'Brien, Wil liam C. Rice and Virginia Rice. The Garden of Acacia, a gar den for members of Masonic Orders and their families, was recently opened. Selections may be made at any time. ...'f-sT 0 vfvLx.I'iA ORVAL McFADYEN Shell Names New Dealer New lessee of the Shell service station at South Sixth and East Main streets is Orval McFadyen. iMoranycn win operate the sta tion under the name "Orv's Super Shell." A resident of this area for the past 24 years, McFadyen recently completed special training at Grants Pass, Roseburg and Port land as part of Shell Oil Com- Pa"S dcale1' training He resides at 4267 Clinton with his wife, Gertrude, and two chil dren, son Mike and daughter Carol. One of the specialties marking the opening of Orv's Shell is a free bowling ticket offer with vari ous purchases of products and services. A bowling fan, McFad yen is interested in promoting bowling. He will also feature Goodyear Tires, batteries and ac cessories as well as a full line of Shell oil products. SPOOFS IRS CINCINNATI, Ohio (UPI) -Sales of a sedate little booklet en titled "Handling Expen.e Ac counts" by one Dudley V. Car- ruiglon are reported by its pub lishers, OsborneKemper-Thomas, Inc., to be rearing 150,000 copies. Claiming to contain "sugges tions, tips and predictions" on the business entertainment, the book let actually is a spoof of the rec ord-keeping required under the new Internal Revenue Service tax rulings. The booklet, written by Robert C. Kappes and illus trated by artist Paul Daegar, was offered as a gag device for sales meetings, boards of di rectors and similar business organizations. hfflB mm TOMORROW! TO 2261 South 6th Street Southern Oregon Realty & Insurance tr if' I It. " . I .. ........ . - DEDICATION PLANNED Eternal Hills Msmorial Gardens and Mausoleum on t h e Merrill Highway will be dedicated on Sunday, Oct. 6. The public is invited to attend the dedication at 2 p.m. Shown here, Eternal Hills offars a beautiful mausoleum as well as carefully groomed landscaping with sculptured figures as at left. The gardens were started in July, I960, and are currently owned and operated by Mr. and Mrs. Edward J. White. . HERALD AND NEWS, Klamath k : i'"- TREMENDOUS RESPONSE William Ganter, Sears, Roebuck and Company manager, reported that the opening of the new annex, across Klamath Avenue from the main store, has proved a tremendous success. This view was taken during the early hours of the store business on Thursday, first day. Ganter said, "The public certainly seemed to be very appreciative of the opportunity to save many dollars on a wide variety of general merchandise." The new annex is presently devoted to disposal of 1963 surplus merchandise and when this is sold, the loeition will be converted into what Ganter described as "the largest toy store in Klenath County with the entire 5,000 square feet devoted to stocking, display and demonstration or toys, sporting goods end oth er gift items." ' POLAR CUB EE2K i POLAR CUB OPENS A new Polar Cub ice cream and soft drink shop opened re cently at Wall and Esplanade. The shop is owned by Oave Sautter, who owned en other Polar Cub on South Sixth Street. Seutter plans his grand opening ceremonies Oct. 6, when the interior of his establishment is finished. RETIREMENT PHILADELPHIA (UPI) - Ab botts' Dairies Is turning out to pasture the last of the horses that haul Its milk delivery wagons and replace them with trucks. Business By Floyd Falls, Ore. Sunday, September 29, 1963 I 1- Leo's Camera Shop has it! If f $429.50 compltlo (incl. r.tT.) $49.95 Down the Jmm cimiri they'll I 1 for iirlictloa Is diffli mitlis, ymi rued the best camtn. Thit'i the mr Bolti Kl. It dots everythini tut choou jour subfectsl It won't let you mike in eipeture miiteke. Equipped with the lemovi Verlo-Switer 36 zoom lens, the Kl fives you i lde rente el fecal leniths Item 8mm wide tfile te 36mm telephote. A superbrliht reflex lewllnder lets yen trteie iny scene, InsUntly, There's moret Heteeietie eiptiere ceetrel Rellei lwl lei fecetlef Three (Inilet speele-12, II ni 40 res Veriehle shelter (ler ledet) e mm rewlei (ler liiielm) Siagle freete Ink (ler titles) COME IN TODAY fOR . . A FREE DEMONSTRATION ? LEO'S CAMERA SHOP 83 Main , h , Review L. Wynne PAGE-3 t-i - 1 The Superb New BoTex Zoom Reflex Automatic Kl k trylnf te natch foryear rh. TU Mill :
