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Daily Memo

THE — VALLEY — —

Valley of Rogue Bank declares 2nd dividend

ROGUE RIVER-- VRB Bancorp, the parent company of Valley of the Rogue Bank, will pay a dividend of 12 cents a share Oct. 15 to those who own stock as of Oct. 1, the company announced.

The dividend is the second this year for the company, which previously paid only one annual dividend. This year's two dividends add up to 24 cents a share, a 26-percent increase over last year's 19-cent annual dividend.

Grants Pass mill wins industry safety award

GRANTS PASS-- The U.S. Forest Industries mill here was among 15 wood panel and veneer mills around the country honored for its safety record by the APA Engineered Wood Association.

The mill won in division three, for mills working 400,000 to 600,000 hours a year. The mill had 518,645 hours worked in 1998 and an incidence rate of 0.77.