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Cheney Free Press
Cheney , Washington
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December 31, 1965     Cheney Free Press
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December 31, 1965
 

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Investment Firm Shows Large Gain George R Yanrcey, president of Composite Fund, Inc., and Bond .and Stock inc., has an'nounced that on, Nov. 30 the combined total net assets of the two fund passed the 40 miin dollar mark. "This means that the total net assets of the two Funds have dou'b- in the past five years," r, said. "At the close of 1960 fiscal year of both eir cmbined total assets while at the close of businessl this Nov. 30 they stood at l Roger 00a00son's PreQactions $40,525,796. ' I ' Yan,ey added that during I (Continued flom page one) intfution I forecast no radical the same five-year period the/ecar,omy as in the past two mlqatio,n daring 1966 . . . the two "companion" funds had[years. Admimstranon is committed Though the Funds have share- holders tn many states throughout the U. S. and in several foreign countires, the larger part of this payout went to In,and Empire investors, ,he were $19,116,764, said. paid dividends to sharehold- I Inventories Scrutenized ers from regular investment I Business invento,ry accum- income totaling $3,728,796, ulation, likewise a "big factor and had distributed a total of]in the boom, should also be- $6,276,549 to shareholders I come a less vigorous expan- from realized capital gains, sionary frce. Perhaps fears of irflationary price inreas- es will encourage businesmem to maintain a healthy volume of inventories; but unless war threa intensify, I see no need t pile up much more i be the time for illogical spec- ultation and gambling in the :'tock market. Above all, let me remind readers of the 4an- ge.rs of using borrowed money t,o buy stocks. Those who "go i invertories. J=lqJ i-|"lverL'*SeS t Consumers wil'l lave more i Y   ] money to spend in 1966. I fe- ]cast 'a further uptrend in per- , ADSi ,'SO,hal incomes,1 to new !high ground. An important influ- ence in this respect is Vhe im- pact ,of automatic vra.ge i- creases which are called fr in existing multi-year 1,abor pacts. Also, I predict a furt'her rise in the general structure of wa,ge rates, as many secondary FOR RENT New 2 bedroom apts. for rent. Fully carpeted, new ranges, refrigerators and laundry fa- cilities furnished. Students may share. Can be seen at 1320 3rd St. Call 235-4778. ol5tf To bedroom apt., large, com- fortable and convenient to services. Rsonably priced. 'Phone 235-6350. d31 3-bedroom house. All applian- ces furnished. Fenced yard. Family only. Located 'at 616 ViHard. Call Moses Lake Re 2-9273 or Cheney 235-6509. d3tf Small living quarters for 1 or 2 people $25 Me. F. M. Wat- son, Four Lakes, east of school house, d3-31p House Trailers for rent. The Auto Mart, 675 west First, Phone 235-6258. dl0tf For rent on Highway, 2 miles west, i/z du1lex, 2 bedroom partially furnished. Phrne 235- 4960. d17-5'1p 2 bedroom Duplex apt. W/W carpets, electrical applianc- es included. For married cou- ple. P]mne 235-4747. dl7tf Unfurnished 3 bedroom older house, 110 No l lth St Ph. 235-6671. d24-31 arage near college. Ph,one 235-4001. d31 Small kitchen unit $60. In.lud- es utilities, prefer someone FOR SALE for sale. Gras,s and alfalfa, and alfalfa. 200 ton, condi- under roof, square All or any part $20 in $22 delivered. Sol, mitt 235-6202. dl0-31p Big! Do your own rug and upholstery cleaning Blue Lustre. Rent electric $1. Hlmes Itdwe. d31 Mde while yo wait only 40c each at The Auto on highway west d10-31 YOUR REAL ESTATE NEEDS, Call Tri-State Real- Inc., Cheney, Wash. 403 Street, Phone 235-4778. 10dtf refrigerator with cross- tap freezer $35.00; Norge 4 bune,r, full size oven New table 4 orange Make offer. Phone 23'5- after 5 p.m. d17-31 E. undercounter dislhwash- in good wrking condi- $30.00; Kenmore washer dryer $5'0.00 pad,r; 40" Estate Range with double arid grill $50.00. Phone  d24-31 PrpHan, 4Per 100% 'tLmless for porch sklewa, lks, rozen eaves any ice trouble. Will rmt slubs, grass or paint. Sale by the Cheney Bldg., 1404 1st. Cheney. 25'5-6243. d319 typing paper, 500 $1.00 talc. tax. typing paper. sheets 8 x 11 practice only 96c at The Free office, j29ffx WORK WANTED outboard motor re- Ed's COnco Servic BE 5-4400. labor unions seek to match the gains of the aura acd steel workers. Tax Cut Remote Unless another federal tax cut is enacted -- wlfich now seems remote in view i.f the war effort ,and the present fis- cal deficit -- net incmne after taxes may not rise as rapidly as gross income, the so.c.,a se- curity tax rate is scheduled for a step-up. Also, higher state and local taxes  irmluding sales levies  will place move of a burden on consume. The all-important employ- ment situation should remain generally good. We may ,have seen the greatest portion of the rise in manufacturing em- p'Lment. However, em]vloy- ment in government payros at all levels, and in services, should continue to scre siz- able gains. Job Picture Told I forecast no radical change in the j,obless picture. Let me warn readers, however, that the problem is far from solved, and in coming years we may wel,1 have to reckon with it. The draft step-up only temper 'rily eases things and gives a [se sense of well,beirg. Retail trade should enjoy another excellent yea.r. Much lot the gain in dollar volume, !of- course, will cme from price lof lhe past two years. WANTED TO BUY 3' ber,oom and den, oil heat, t In View of the drain on our size box spring and ,convenient location, aage. ,nd a refrigerator. $67.50. AvadIabM Jan 1. RI 7- gold supplies, the government has been endeavoring to pro- 235-4210. ------d3t 5091. d31p i mot e domestic travel and ca- FOUND  Sleeping room, one bl,ock from I cations Nevertheless, I ore- eatlege, 419 B street, ph.onelcast further interest in for- lm, ge tan rome dg with 235-4937. d31 l eign vacations. In one sense, I collar. Owner ca am happy to see this. I have d31 Nice one bedroom furnished done considerable foreign MISCELLANEOUS pt. Electric heat, watLng traveling, and I feel that such faclJties, no .pets, $65.00 plus activity is definitely advantag- Lewis, electrical conrac- utilities, water paid. Corner eou,s. Furthermore, I feel that Wiring and repr. Che- Wash,rgton & Salnave Rad. foreign travel can help Amer- E.loatrie. Plmne 237-4341. 503 West Second. d31tf icans to wake up to the advan- n-5f Newer 3-bed'room furnished tages here at home and make WANTED house, good area. 235-4778. them more hankful for the for St. Vincent De d31tf blessings they enjoy. Inflation Threat Groundless Society furnittre, cloth- One bedroom apt, furnished or Many readers -- especially shoes, urgently needed, unfurnished, 506 2rid St. those retired and living on pen- lary addux 235-6814. d31-j7 sions and social security -- ave ndtf - ,. worried about the threat of interested in working part for leisure-time and vacation time in motel. 235-4498. lines, eel!or television is catch- _ d31"j21P]ing on, and I look for contin- 1 bedroom apt. on 1st fl,oor [ued strong demand ia th furnished. $50.00 per month: I field- Phone 235-6553, 5 N. 4th. Car E'amand God d31tf The automobile business i wil,1 not be left out in the 3 bedroom house, 1700 N. 5th, spending spree. It will enjo garage, and shop. Call R. L. another prosperous year but Heyer, 235-4150, eves. I foresee no significant up- d31 surge beyond the high leves to "n, on-inflationary proga, ess." off the deep end" may well However, some wiee morons- regret it before very long. es ap;pear unavoidable. Those who invest (not spec- I predict that the greater utate)on the basis of growth d;a,nger will lie in CREDIT in- :wilil sleep better nights. I have i flail, on, rather than in PRICE in mind the expar:ding popu- inflation, lation, rising incomes, scien- With the rise in deferso tifie advances, greater leisure, spending and the cost of legis- and above all the i'mlact of lation for the Great Society, the Great Society. the federal budget will su,ffe" Dividend Outlook Good a sizable deficit. In addison Investors should be pleased states and municipalities are with cash dividend paymen unable and unwi"l, g to live in 1966. I forecast they will within their mens. Canum-shaw another increase. I ers will ahso go further into would also expect a ash off debt. stock dividonds and s,ck New Cost Increases splits, particularly in the first Look for new increases m ha,lf of the year. the cost-ol,livmg irmex. The If businessmen, consumers, governmen!t may try to head and investors do not act vol- off sut)stantial price kes in untarily to keep inflationary key areas, but se,lectie price pressures ,and speculati, o rises wJ11 occur, from getting out of hand, the industrial commodity prices me,notary autloriti,es may he shoutd remain firm to .hgher, forced to raise margin 'equire- price for US coins. Free ap- if you do not wish to New ] bedroom 113 N. 3rd St., Cheney j00tf Apts. For Rent IUSINESS OPPORTUNITY 306-310 N. 11th earnings first year, p- pat or full time, men dee men, minimum invest- wanager early retirement income Send q,uaficaUns American Entepze, Inc., ol5tf 52, Cheney, Wash. o29tf ORNDORFF & PENCE Richter. Wlmberley & Erion Spokane,601 LlnolnwashingtonBuilding,9901 708 ONB Bldg., Spokmae 1, Washington NOTICE OF SALE OF REAL ESTATE OF DEFAULT JUDGMENT No. 80385 o. 174894" Superior Court, Spokane County, Wh- ington. Superior Court of the State of In the Matter of the Guardianship of tn and for the Coney of the Estate of CLARA MAY MASTER- SON, Incompetent. HARTLEY' Plattiff vs. Notice is hereby given that Gladys D. HARTLEY, defendant. W. nawerth, guardian of the estate of David D. Hartley, the above Clara May Masterson, incompetent, "'ill defendant: sell, at private sale, and for cash or take notice that on January on terms most favorable to the estate, at 9:30 o'clock A. M., or as the followirg described real estate: a counsel may be heard, The South 25 fee of Lots 1 and 2, will make application in Block 12, WadSworth and McDon- court in the above etitled atton' ald's Addition' to the City of Spokane, for the relief demanded County of Spokane, tate of Wash- complaint, ington, as Per map thereof recorded aald mtio will be upon the in Book "A" of Plats, pa'e 71, in that although more than twenty the office of the County Auditor of have elapsed sin'e the time said county upon the defendant, he has Bids must be submitted in writing and in, thi case in any Znan- left ,with said guardian or her alter Whatsoever and ha not filed in ns, Riehter Wimberley & Ericson, or served upon the plaintiff at their offices at 708 Old National Bank attorneys any motio, appear- Building'. Spokane, Washington. or may or pleading, but is wholly tn de- be filed ire the office of the clerk of and will be based upor the rec- the above-named cOUrt. Bids will be re- files of this Court in this case. ceived ut*til date of sale. & Pence The sale of sMd real estate will be Jam L. Pence made on or after January 17th, 1966. for Platltlff The guardian herein specifically reserves BLildi the right to reject any and all bids. Washlugn 99201 Gladya W. Haworth, Guardian (Dec. 81, 196) (Dee. 31. 1965-Jan. 7, 1966) particularly in the fU't hall moas ,on stock purctases, and of 1966. The primary bulwark perhaps tighten credit further. a,gaint a pace runaway is Look for somewhat lower competition, which should be bond prices in 1966. Although basically more effective than we are not in immediate dan-, govermnent influence, ger of credit exhaustion, the I look for an increase in. do- banking system is under so,me mestic competition in 1966. strain from the rapid expan- This should become more ew- sion af ere.dit in recent years. dent s the business upttrust My advice is to buy bonds tapers ,off. Also, we must not which mature in five years r forget foreign competition, less. The time to buy ood With many nation,s feeling the tonger-term bonds will come pinch of a dolhr shortage, they when the yields on sh,ort-term will work to remedy this by bonds exceed those on long- increasing their sales .here. term issues. Strikes Forecast British Pound Eyed Business in 1966 need fear The dollar will not be de- nse major labor tie-ups. Strikes, valuated in 1966. Possibility off tmwever, may well be numer- devaluation of the Brit'h ous among the secon@ary la- pound will undoubtedly come bor units, to the fore again, but addition- I lok far business failures al effort witl probably be made to increase, loth in numbers to keep the pound from "poing and in dollar liabilities. This under". I fear, heowever, that will be due to keen eompeti- all this is only "buying time" Lion, excesses of debt and in- . . that devaluation of the ventory aecumulatiozs, unwise pound may be inevitable. credit extension,s, and careless ! foresee no cure tr the out- management, ftow of gold from America's Of greater concern to me ks shores in 1966. However, in the steady cmb in non-farm view of the im,portanee od' the real estate foreclosures; I ex- U. S. in international trade pect a further rise in 1966. and world mi, litary contsidera- Business profits in 1966 will t ions, foreign bankers will be mt advance as sharply aS in reluctant to withdraw their the past two or three years, gold en nmsse. Bear in mind The ..squeeze is on in profit a'lso that there is no country margins; hence I look for a that can match our industriN tapering off in the rise of eor- ;rises. Nevertheless, as long as p orate profits, although I fore- personal incomes, emp,oy- see no drastic slump while ac- meat, and business hold high, I tivity holds near peak. consumer confidence will en-[ Farm Situation Stable couI,age.spending. , J Looking at the farm sector, penumg tor zooa. pparel, [1 see ro radical change from and general merchandis, [the excellent 1965 .yesr. Bar- should continue upward; also ring a crop faSt, re m" severe drought, farm prices, at should shade only slilhtly lower. Farm equipment manufac- turers should enjoy good busi- ness in 1966. This goes also for fertilizer and pesticide pro- ducers. The important building and construction lines 'should h.odd their own in 1966, but their dolhr volume may be due I largely to price and cost in- i flatten. The Great Society pro- gram is a plus factor for con- struetian, including urban re- newal and highways. No Building Boom Private ;home and apartment l)uiMirtg could show slight im- provement, but the real boom in residen;tial building will nt register significantly in 1966: Hence, I foveca that real estate cartditions Will remain selective. Well-located sites for homes and industrial and commercial complexes will do well, but study ,of local con- dition,s is imperative. I predict a further increase in farm lnd values in 1966. With costs still rising, the p hysicN size of farm mu,s expand so operators ea.h bene- fit from mechanization. This places  premium on well,loon.t- ed land in the impoant and larger agricultural regi, ons. The .steady advance toward fuUer automation should make further progress in 1966, help- irg idustry to cope with ris- ing operating costs and short- er work weeks. Stock Market My Suffer Trees do nt grow to the skies; neither does the stock market rise unendingly. W, hile I forecast that the stock mar- ket --,as measured by the Dew-Jones Industries- can surpass the high mark of 1965, I articipate a volatile 1966 market with a lod-sized drop- off a real possibilty sometime dug the year. Even though the stock mar- ket may push to new highs, .any further advance may not! bulk large percentgewise. If business and corlxa,te profits slmw a tendency to taper off, the fun*damental basis oa worttrarhile advance wi,H be re- moved. Speculation Looked For Speculative enthusiasm and infhtion fears can be expected fie figure prominently in the ock market during the course of 1966. The urge to TRI-STATE REALTY make ,a quick buck is increas-. ingl, y evidenL wl not Bill Geschke  Lloyd Ham I foreva,St that 1966 I Anticipated Rate 41% PER ANNUM For Regular Savings Accounts Anticipated Rate 4.40 % 'Forsake notan old friend, for the new is not comparable to him. A new friend is as a new wine; when it is old, thou shalt drink it with pleas- ure. Eclesiasticus, IX, l0 O. B.'S ELECTRIC Mr. & Mrs. O. B. Neimeyer I Friday, December 31, 1965 Clmney Free Press Page 5 and military might . . . ad[board members weJe given a that, among the leading no-J copy of a brief descriplicm of tis, the Un!ted States has I the Headstart Prgr,am fr sunerea least m terms t rav-Iwhich money is available un- ages of inflation and political/der the federN government s instability. [education 'aid wgra.m. Dr. Pdggs reported that Mr. Dierck- More School Board (Continued from page one) this. The superintendent re- ported .he had sent in an offic- ial request from the district to WIAA that such a change be made. ins is working on this protflem, but does not lave a repot ready or presenation to the board a't this time. He stated he .has definite knowledge tlt there is a need for this pro- gram ,as there are pre-school chitdren in the district Wlm Vandals A'pphended have not had adeqtaee prep- a '1 Vandalism .at Win,0r ele- rat.n for mll. I was The su'/-ri"n'nl 7" Z=':':.: ministrati, on be ,ted to , pe , e , sme:a na r ..... , .... the van,dais had ho,n ,,,i IP aceeu wm esoasamg h,,,, , ...... ,. .a 1. .... I proof of the need for a Head- action was beta,, take,, ,, ,,r I an outline for the pogram ents to re.pair the dam:age and !,nil. an apphcaon for coned- make an' a-meats for dam oration by the board a 'a fu- aeo ,,,Y P ......... '. ulture date. 23he moUon was sec- ' O tl IL C L '&r.[- U ltV:L,C:a.y. J1U circu.hted .a letter from Mr. t ended by Mr. Sepoy. and Iasscl,. Doy, pri.ncipai o,f Wirdsoa" I sch,ool, concern'ing this action. I Nor ony 75 cent;s you can Headstart Program r,ach 1525 homes with a Free At the last meetirg the Pras classified ad. ,, , n C UI   : ! ANY PLACE IN SPOKANE COUNTY . . . LAKE, CITY & FARM HOMES Also Duplexes, Apartments & Commercial Buildings . . . On Your Land or Ours. EASY TERMS AVAILABLE Harlan Douglass, Inc. HU 3-2590 dl0tf LIFE INSURANCE COMPANY OF NORTH AMERICA Ed Doten Agency - Cheney /OUR NAME. ADDRESS CITY STATE ZIP , Please send me full information about the INA GEM life insurance Pel]f, - " Cheney Telephone Co,.