Change in Stock Buying
Babion Discusses Leisure Stocks
By Roger Babion
Babson Park, Mass., Oct. 28
(Special Correspondence) When
war plants were going full-blast,
I suggested to readers of this col
umn that they buy the stocks oT
merchandising companies be
cause people then had money to
pond. Now, when these war
plants are shutting down, I sug
gest the serious consideration of
the stocks of leisure companies
because people now have time to
spend.
Several Examples
ef Leisure Stocks
There are several examples of
leisure stocks namely, stocks of
companies which have their peak
business when people have the
most spare time; that Is work
ing 40 hours per week Instead
of 54 hours. Ordinarily, movie
stocks would be a good example;
but they have already gone up so
much in price that they may not
now be attractive. A true leisure
stock Is one which was obliged
to curtail and cut its dividend
during wartime.
Perhaps the simplest examples
of companies profiting most
when wage workers have reason
able leisure are those making
bowling atleys, billiard tables
and the like. This should be es
pecially true if the company has
funds so as to be able to sell on
installments as soon as the re
strictions are off installment sell
ing. Please, however, do not ask
me to name any such company.
Go to your broker and ask him
to tell you what concerns are the
leaders in the field. Incidentally,
such stocks are the best hedge
. against the unwarranted activi
ties of labor leaders.
Veterans Advised to
Buy Ready Business
I hesitate to advise any return
ing veteran to enter business for
himself at this time. By all means
make every effort to buy out
some small existing business
rather than to start a new busi
ness. However, if a reader is
really determined to enter busi
ness for himself he had far bet
ter stick to the "service" line of
companies. They are more adapt
ed to being run by their owners
and as a rule are not domi
nated by labor leaders.
A company which installs
bowling alleys and similar ap
paratus is usually prepared to
enter the installment business.
Certainly, installment stocks,
which have been held back
throughout the war, should be
better purchases than the stocks
of most concerns. Hence, a vet
eran may open a new bowling
alley with the payment of a very
'little money down because these
"sports" concerns are prepared
to "install on installment pay
ments." Another thought: Such
sports as bowling, pool, etc.,
which up to now have' been
patronized 90 by men, will
soon also become a women's
sport as well.
Recreation Becoming
Nation-Wide Industry
A generation or so ago, sports
were carried on in an informal
way largely by colleges, Y. M.
C. A.'s and clubs of various
kinds. This was because people
worked long hours and only the
young, the old and the unemploy
ed indulged In baseball, bowling,
pool, etc. But today the situa
tion is rapidly changing. I even
forecast that football teams will
be incorporated and stock sold
to the public.
Commercialization of sports
has both advantages and disad
vantages. If it is controlled by
men of good character and kept
clean, it will work out for the
good of all. Certainly, men and
women, alter finishing their
day's work, would be better off
by bowline than bv drinkino
and the two cannot successfully
oe comoinea. Another thing
which should be remembered by
all readers of this column! Al.
though it is the personal affair of
an individual and his employer
nat he or she does durine his
working hours, it is 'of para
mount importance to the entire
communitv what hp nr nil Hrto
during the leisure hours.
Remember Suggestion of
Buying Gas Stations
Yes, it Is a sure bet that wage
workers will have more leisure
time during the next few years
than they have had any year
since 1939. May it not be wise to
capitalize this coming change?
Readers remember how I urged
the buying of closed filling sta
tions two years ago. Well, they
are now selling for double and
treble their then wartime prices.
Lood forward not backwardl
What's Doing at
u. s. o.
A formal Hallowe'en dance
will be held Wednesday evening
with intermission entertainment
and refreshments. Miss Beverly
Watson is chairman for the eve
ning. v
GIRL SCOUT WEEK
in medford AREA
The traditional "Scout's Own"
ceremony "held in Medford yes
terday marked the official open
ing of National Girl Scout Week
in Jackson county and .was at
tended by about 30T Girl
Scouts, their parents and
friends. The ceremony was held
at the Riverside USO at 3 p.m.
Speakers of the day were the
Rev. Milo Ross, head of the
Medford Friends' church and
pTtsiAvot ot trte Bfodrord Min
isterial association, and Major
D. M. Zeis, army officer who
recently returned from an ex
tended period of duty in Italy.
The Kev. Ross spoke of some
of the influences against good at
work in this country today and
Major Zeis told of conditions in
Italy, touching on the Italian
schools, clothing, foot shortages
and other matters.
Troop members participated
in a candle-lighting ceremony,
contributed pennies to the
national Jullctta Lowe fund for
inter, ational Girl Scout pro
jects and sang a number of
Scout songs.
Troop meeting throughout
this week will also observe
National Girl Scout Week.
Cloetnf time (or Cltaalfled Adfl 8:30
a. m. Too Late to Classify 13:15 p. m
Please rememDer
San Francisco, Oct. 29 (U.R)
The weather bureau today pre
dicted southeast storms with
winds ranging between 40 and
60 miles per hour off the Pacific
coast from south of San Luis
Obispo, Cal., to Point ' Blanco,
Ore.
Revising an earlier small craft
warning, , the weather bureau
forecast southeast storms for the
next 24 hours from Point Con
ception, west of Santa Barbara,
Cal., to Point Blanco. . The wind
reached 60 miles per hour at
Point Arena, north of San Fran-
eJeoo bay W0 a. m., the bu
reau said.
Winds in the San Francisco
bay area were expected to reach
between 35 and 45 miles per
hour.
Monday. Oct. H. IKS
MTOFORD MATL-TRrBTTrrE TTTK
as "Dr. I. Q" revealed that he j Evanston. HI., and for the pres-
is a senior rtudent at Seaburyent was combining radio work
Western (Eoiscopal) Seminary, with theological studies.
"DR. I. Q." PREACHES
Detroit, Oct. 29 (U.R) The
well-known "Dr. I Q." of radio, :
Jamrs W. McClain, shifted roles I
at St. John's Episcopal Church i
Sunday morning and preached a j
sermon McClain. who is known
to millions of listeners simply
A'r-Tlte ion
Just Arrived! New Gibson
ELECTRIC RANGES
REFRIGERATORS
AND
ELECTRIC
LAS VEGAS WEDDING
Hollywood, Oct. 29 (U.R)
Screen actress Lois Andrews, 21,
and singer David Street, 27, were
honeymooning today following
their marriage in Las Vegas Sat
urday. Miss Andrews was mar
ried to comedian George Jessel
at 16 and divorced him two years
later.
Daily Weather Report
FORECASTS
Medford an vicinity; Partly cloudy
to cloudy wih showers tonight and
Tuesday. Cooler tonight and Tues
day. Orrgon: Cloudy with occasional
rain tonight and Tuesday. Fresh
southeasterly wind off coast. Little
change in temperature.
LOCAL DATA
Temperature a year ago today:
Highest 76; lowest 36
Total monthly precipitation .62
inches.
Deficiency for th.e month .81 Inches.
Total precipitation since September
1, 1945, 1 08 inches.
Deficiency foi the season .80 Inches.
Relative humidity at 4:30 p.m. yes
terday 78?0;.4:30 today 61.
Tomorrow
Sunrise 6:41 a.m. Sunset 5:08 p.m.
Observations taken at 4:30 a.m., 120
Meridian time:
High Low Prec.
Boise .... en
Boston 54
Chicago im 75
Denver - 70
Eureka ......... WrfH......
Havre -...v.
Los Angeles
iviedfurd ...
New York
Omahs .
Phoenix ...... .........
Portland
Reno
Roscburg
Salt Lake
San I ranclsco
Seattle
Spokane -
Washington, D. C. ,
Yakima
53
70
55
, 60
79
87
56
66
51
69
46
53
35
28
57
47
40
51
55
46
47
, 53
, 73
. 53
40
44
39
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PROD UCE MO
AND HAVE
A PROPOSAL TO THE NATION
To It's Law Makers. It's Economists. It's Farmers
It's Industrial Workers and It's Business Men
RE
MORE
"Every thinking American must realize that this country now
faces a situation without parallel either during the war or before
it."
"Before the war we were busy at production of all the things
required by a peacetime economy. We maintained a high stand
ard of living, supported the government with our taxes, exported
to foreign countries and enjoyed imports from them."
"Then came the war. Production was stepped up to unprece
dented levels and devoted almost entirely to military needs. Pro
duction of civilian goods "was reduced to the barest necessities."
"Now the war is over. We turn again to supplying civilian
needs. But today these needs unfilled for four long years are at
the highest peak of all time our government's tax requirements
are no longer the staggering needs of war but they are still the
enormous needs of war's aftermath many times greater than be
fore the war. There is also immediate urgent need for all kinds
of goods to aid the recovery and rehabilitation of a war-tom
world."
"The simple fact is that we have a big job ahead of us."
"We can't get it done on the pre-war basis of work."
"We must produce far more now than ever before."
"Recognizing these problems we have made the following pro
posal." "October 27, 1945"
"Union UAW-CIO,"
"411 West Milwaukee Avenue,"
"Detroit 2, Michigan."
"Gentlemen":
"General Motors proposes that the UAW-CIO join with
it in petitioning the Congress to change the Wages and
Hours Act to make the standard work week 45 hours in
place of 40 hours during the post-war reconstruction period.
This proposal is made recognizing that the country has a
big load to carry in cleaning up the aftermath of the war
and that under these conditions we can all have more only
if we produce more."
"The reason for this proposal to change the law is that
. the present law putting the penalty of overtime pay of 50
on the extra hours over 40 discourages employers and busi
ness generally from planning such extra hours of produc
tion thereby tending to reduce the country to a 40-hour
week when the country and the world are demanding more
production at lower prices."
"With this change in the work week we propose that all
wage rates be increased approximately 6 so that men
working 45 hours at the new straight time rates will make
as much as they do now for 45 hours of work. This pro
posal would increase the earnings of those working less
than 45 hours and would also increase the extra compensa
tion for any hours worked over 45 since such hours would
be paid for at time-and-a-half based on the new rates."
"Your first impression of this proposal probably will be
, that it is a reactionary idea and not in the interest of labor.
It is not reactionary any more than working longer hours
in the war emergency was. We are sure that it is in the
best interests of all the people of our country and particu
larly in the best interests of all workmen."
"If the 40-hour week was sound pre-war and the 48-hour
week during the war the 45-hour week is sound for the im
mediate period following such a world catastrophe as we
have been through. All Americans are expecting an even
higher standard of living postwar than we had pre-war.
This can be accomplished at this time only by producing
more as we now must carry the huge additional tax burden
and other expenses growing out of the war. The simple
fact is that we have a big job ahead of us. We cannot get
it done on the pre-war basis of work. We must produce far
more than we did in the past"
"The workmen of other nations will work far more than
45 hours. In many cases they will have only a bare sub
sistence living while they are doing it. Because of the lack
of good tools and machinery like those supplied by em
ployers in our country." ,
"This proposal has much to recommend it."
"I. It avoids a substantial reduction in weekly earn
ings." "2. It prevents inflation and preserves the purchas
ing power of war bonds, insurance, social se
curity and other savings."
"3. It does not upset the balance between agricul
tural workers, salaried workers and industrial
workers."
"4. It will produce more goods and services and the
people of our country will have more."
"5. It will create more good jobs and the employ
ment of more people. Just as many men and
women will be employed in our plants on a 45
hour week as on a 40-hour week. And it will
allow the use of our plants for the extra five hours
when they would otherwise be idle."
"6. It will stimulate business activity and create more
jobs and result in the employment of many more
people in all related businesses." , -
"7. If our plants could be scheduled to work on the
basis we would produce nine cars where we
would otherwise have produced only eight. It
will mean that one man out of nine will have a
car who would otherwise go without."
"We believe that a 45-hour week is necessary and de
sirable during the period of postwar reconstruction for th
following reasons" :
"1. During this period our country will be shipping
food, materials and machinery to other countries
all over the world to help them rehabilitate them
selves and avoid starvation."
"2. We still have the extra expense of bringing our
fighting men back home and fitting them into
civilian work."
"3. We Btill have high taxes which necessarily are a
charge against industry and all producers."
"4. "To develop and apply technological improve
ments and to reorganize industry takes time
years not months."
"It is hoped that at the end of this postwar reconstruction
period":
"1. Our relations with other countries will be on the
basis of a two-way street where we shall get back
goods and services for those we supply."
"2. The fighting men will be back at peacetime work
and the aftermath of the war will be over."
"3. Government expense and the number of govern
ment employes will be reduced and not be such
excessive burden on all producers."
"4. Technological improvements the better ways of
doing all the things that are necessary to deliver
products to customers will have become effec
tive." "We can then have a 40-hour week with more leisure
time and more goods and services and can continue to im
prove the standard of living of all Americans."
"Yours very truly,"
"C. E. WILSON,"
"President."
"WHY WE BELIEVE EVERYONE SHOULD FAVOR THIS PROPOSAL"
"It would help America to produce more and have more "
"It would provide for higher wages without the certain necessity
of higher prices "
"It would help to strengthen buying power, sustain the tax re
quirements and maintain the value of war bonds, savings and in
surance "
"It would be good for the working man, good for the employer,
good for the farmer, good for the professional man, good for the
housewife "
"Good for America."
GENERAL MOTORS
More and Better Things For More People