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About Herald and news. (Klamath Falls, Or.) 1942-current | View Entire Issue (Dec. 22, 1963)
y ' y.:t- t ' - 6 ,; -A - t - - r ; .' -i - t-- - v 7 ------. n ! ' iriliii ii i in iij .. .iisia . --r r-tii2 -- i-i in- rnfl BANKING ADDITION Preparations began last week to house the second bank to locate in Alturas. Recently receiving federal approval to establish a local branch, the Wells-Fargo Bank is remodeling a 3,000 square foot building on Main Street to be in operation by the first of next year. Officials say the bank will be an ultra-modern es tablishment with a staff of eight employes. Bank of America has been the only bank serving Alturas until this time. Stock Mart Feels Pinch NEW YORK UPI (-Trading circles here have said that re percussions of a recent com modity trade margin squeeze, which led ultimately to suspen sion of a member firm from the New York Stock Exchange and a proposal for it.i custo mers rescue, might lead to ag itation for closer government control over commodity trad ing. Margin requiremenls for com modity trading the down pay ment which a dealer or specu lator must make in trading on futures are far below the cur rent 70 per cent margin de manded for trading in securities on stock auction exchanges. They may range from no mar gin in some transaction to up to 10 per cent. In the case of Ira U taupt & Co., a big board member firm suspended by the exchange when its net capital fell below big board requirements, it was the difficulties encountered by a major customer which led to suspension and, ultimately, an NYSE plan designed to protect customers, for its liquidation. Haupt and .1. ft. Willison & Beane had Allied Crude Vege table Oil & Refining Co., Bay onne. N.J., as a major dealer in oils, as a customer. Allied Crude, which had leaned heav ily upon the two firms in Its margin trading in cottonseed oil, filed a petition in bankrupt cy and the suspension of the two firms from the Exchange fol lowed a day later. J. R. W'illiston & Bennc was reinstated, as it was able to ob tain the funds necessary to bring its capital requirements up to demanded standards. ; t J FLOYD V. CUNNINGHAM Local Man Promoted Flnyd V. Cunningham, Pacific Northwest Bell transmission man here, has been promoted to plant sU-iff assistant in the company's Oregon area head quarters in Portland, according to A. B. nii'kerman, local manager. Cunningham, a resident of Klamath Kails since 11)53, is n veteran Hell system employe. He started his career with Soullrwestern llcll in Missouri in I!M7 as a lineman. He trans ferred o the American T e 1 e phonc and Telegraph Company in d!"i2, where he worked in tlie Missouri Ing Lines depart ment. Since moving to Klamath Falls, Cunningham has been a lineman mid a line assignor as well as transmission man. After a few months in Port land, Cunningham will work hi various Eastern Oregon king dis tance offices of the company un til he is permanently located in one of those communities. Phone Call Tips Given Looking ahead to the annual surge of long distance calls on Christmas Eve and Christmas Day, A. B. Dickorman, Klam ath Falls m.-mager for Pacific Northwest Bell, offered these suggestions. Consider calling before Christmas to avoid the r u s h. The lower rates start everyday at 6 j) m. and continue all day Sunday. Call station to station rather than person to person. Call by number in any case, including the area code for calls to points outside Oregon. Voice paths to America's smaller towns or rural commu nities are the ones most likely to become clogged by holiday calls. Nearly twice the normal force of operators will be on duty throughout Oregon and extra long distance circuits will be used to help meet the rush. mm . , park i vtrxinv ohhs K? Du Underwriter Status Given An outstanding record of in suring caieful drivers and main taining high administrative stan dards in underwriting for a tliree-year period has earned the designation of Certified Un derwriter for Mio third consecu tive year for Jerry i,. Khelley, district manager of Farmers In surance (Jrnup, according to R. E. Early, executive director. This authority entitles Khelley to do his owin automobile under writing for Farmers Insurance Exchange. Early said. Base Approves Project Bids Two recent contracts were awarded by the Base Procure ment Office at Kingsley Field. The B. W. Smith Plumbing and Heating Company of Red Bluff was awarded a contract for $8,aa to repair the sleam lines at the lied Bluff Air Force station. The other award was to El don N. Alt. Houto 3, Box 64, Klamath Falls in the amount of $!t,:t0O for repair to existing pavement of the Power Check Pad at Kingsley Field. WELCOME SIGNS James Lockart, Ha ware Store manager, displays the new "Welcome To Dunsmuir" signs which will replace parking meter heads In the dowtown area. The other side of the sign pro claims Dunsmuir as "The Home of the Best Water on Earth." Some 175 of these signs have been ordered by the Dunsmuir City Council, a decision which resolves two years of discussion on whether or not to retain parking meters in the city. GUARANTEED TRUCK SERVICE AND REPAIRS We're Specialists on 4 - wheel drive Willyt 'Jeep' vehicles, but we ore equipped to serv ice all makes. JOE FISHER Lincoln, Mercury, Comet Willys 'Jeep' vehicles 677 So. 7th Ph. 4-8104 Emtrgtncy Phent: Chacli Romp, 2-49SI SWISS MISS HOLLYWOOD (UPI - Swiss Miss Lilo Pulver has flown to Hollywood from her home in Gen eva for a co-starring role oppo site Bob Hope in "Global Affair." uxKKHHaamuaMiiiii' 5 YULE g LOGS CRATER FUEL CO. 2 Ph. 4-97J7 CRATER FUEL CO. New Location Office & Yord now at 2936 HILYARD on Hilyatd bttooon Allomonl 1 Wostibum War Quality STOVE & DIESEL OIL CHICK t FILL SERVICE WoKd. o"jf.alrWnc!s -sV Presto-Logs ScOhTtf 4-9757 for Service! Great Northern Directors Authorize New Additions KW YORK-Great Northern directors at a meeting here Fri day. Dec. 13, authorized t h e railway to acquire next year new diesel power and 1,075 freight-carrying cars, a n d to continue trie company's long range track improvement pro gram in 1964. GN's equipment and track betterment programs next year will cost approximate ly S29 million. The railway's directors also authorized payment of a 75-cent quarterly dividend on Great Northern's outstanding stock, payable Feb. H, ,19fi4 to share holders of record on Jan. 9. The railway's 1904 capital im provements program represents an increase of nearly S6 million over the authorization for bet terments in 19U, said John M. Budd, GN's president, and is substantially above the aver age annual cx.penditure for these purposes in the five-year period, 11)39 through 1963. GN's freiglit car program next year will include acquisition of 400 70-ton boxcars, equipped with wide doors for greater loading convenience; 200 70-ton boxcars with cushion under names and nine-foot doors; 100 100-ton covered hopper cars; 50 tank cars, each with 24,000 gal lons capacity; 100 70-ton steel flat cars; 100 70-ton solid bot tom gondolas: 23 100-ton a i r tlide cars for movement of bulk foodstuffs sugar, flour, etc., and 1O0 100-ton open top hopper cars. New dioM;l locomotives for GN in 1964 will include a total of 18 units, which will he 2,500 horscpower, general purpose en gines. Next year's track improve ment program provides for in stallation of an additional 133 miles of CTC (centralized traf fic control) on GN's principal lines in North Dakota and Wash ington. G.N will have 1,137 miles of CTC by the end of 1964. The railway's track relaying plans for next year also provide for placement of 75 m i 1 e s of new rail. 62 miles of which w ill be welded. At the conclusion of the 19654 track program GN will have 453 miles of welded rail. I il Business Review By Floyd L. Wynne 34 J Farmers, Stockmen Share In FLBA Dividend Upwards of 341 farmers and stockmen in this area shared in a $23,904.91 dividend paid by the Federal Land Bank Asso ciation of Klamath Falls last week. The dividend, declared by the association to its stockholders of record on Nov. 30, 1963. repre sents the association's share of a dividend declared by the Fed eral Land Bank of Spokane, Bryant Williams, association manager, said. The Spokane bank's dividend approximated SI million. Williams explained that t h e capital stock of the Federal Land Bank of Spokane is en tirely owned by 61 Federal Land Bank associations in Ida ho. Montana, Oregon and Wash ington. These associations make and service loans for the bank. The capital stock of the asso ciations, in turn, is owned by their farmer and stockmen members who are the bank's borrowers. The 19B3 dividend is the larg est ever paid by the Spokane bank and brings to $6,600,000 the total in dividends paid since 1944, according to Williams. The payment of dividends, he point ed out, has the effect of reduc ing the interest cost on loans. PAGE 6 HERALD AND NEWS, Klamath Falls, Ore. Sunday. December 22. 1963 POWER BOOSTER The new Pacific Power and Light Company substation to im prove power voltage to 900 PP&L users in Alturas was scheduled for operation on Dec. 12. Norval Eastin, manager of the local PP&L office, said the voltage hike from 4,000 to 12,000 volts will give more efficient regulation of the current and more con stant voltage to the users. The $150,000 project is the beginning of a long-range plan to convert all Alturas to higher voltage. Building of the substation and installation of the first 6,250 KVA transformer began Oct. I. Firm Advances Bill Blakely A former iKlamalh Falls res klent, -Bill Klakley, who h a s been associated with Ruhen stein's Furniture in Eugene for the past nine years, was recent ly promoted to sales manager of the new Ituhcnstein's store in Kalem. SALESMAN WANTED Benninqtnn Steel Bldqi. Co. Is txpartdinq. In anHcipailon M flutler't new Agri-Builder program we need salesman who nas proven himself In the sale field. A knowledge ol buildings, construction or farm systems, while helpful, Is not necessary as we and our primary supplier will train you thoroughly. Salary and commission basis wtll provide above average income tor producer. Satisfactory arrangements for Iransportation and expenses. Replies containing a full background of your selling experience will be held in strict confidence. Advise us whero you can be called lor per sonal interview. WRITE TO: J. H. BENNINGTON, Bennington Steel Blrfgs. Co. 5059 Bryant, Klamath Falls, Ort. In Year-End Tax Planning . . . you are respectfully requested to consider a' bequest to the Presbyterian Intercommunity Hospital. Counsel with your accountant or at torney will determine if it is advantageous to . make such a gift before the close of 1003. Such a gift, of course, would help build the Basin rather than foreign aid. In round figures the Hospital has funds of $2 million available and it will take $598,000 additional to achieve the goal of a debt free operation. Tlease write or call for additional information. Presbyterian Intercommunity Hospital 313 Main St. Newberry Employes Receive Gifts Christmas cash gifts were presented employes of the local Newberry store by manager Ed Wuitschick, he disclosed today. This is in keeping with a long established policy of the com pany. The plan involves over 560 stores throughout the United States, several ware houses and five district offices. Wuitschick said the Christmas gifts to Newberry employes this year would total $700,000. The amount each employe received depends on length of service. He also pointed out today that Newberry's has in force a retirement plan, as employes become eligible, paid for by the company up to the first $2,000 of annual earnings, and by an employe company participa tion plan on earnings exceeding S2.000. In addition Newberry's provides all its eligible em ployes with company paid life insurance policies and shares in the cost to them of sickness, hospital expense and surgical benefits insurance. Also he explained that New berry employes have a stock plan through which several thousand employes have beome owners of their company's cap ital stock, and a discount on company purchases at their store. WASHINGTON' IUPD Sen. Philip A. Hart, R-Mich.. pro posed Thursday thai Cuban ref ugees in the United States be given permanent residence. jSJ Whipping Cream Ks?lL 3 Tatty Flavors! TAIiF. H4IMF ENOUGH Vtfe-5 DAIRY-FRESH mk E3 Q P DPS m Tom & Jerrg BATTER THE BEST YOU'VE EVER TASTED ! !WlWl! o
