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 :