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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (July 3, 1958)
o MAIL TRIBUNE, MtdforJ, Oregon, Thursday, July 3, 1958 rt,,f lr - sty'-: t mZa m rSS: 1 liSfe f ft wvl 'A Pension Funds Becoming Factor For Stability in Stock Marker By ELMER C. WALZER UPI Financial Editor New York (UPI) Pen sions and pensioners are two words in good repute these v Havs. P en sion funds are be coming a fact or for stabil ity in the stock market. Each year some $5 bil lion are col lected for pen sion funds and many of tnem go into stocks. Good words are said for Chief foreign buyers of United States farm exports in fiscal 1957 were, in order, United Kingdom, Japan, West Germany, Canada, Nether lands, Italy. Belgium, France and Cuba. the pensioners and there's many a tear shed for their inability to keep income up to the inflation level of the dollar. The, funds are administered by banks, insurance com panies and private companies. The money piles up and must be invested. ' These are just one facet of the many-sided retirement program of America. There is a phobia for retirement. A Common Topic Books have been written about retiring early and en joying the last days of one's life. At the same, time, there are thousands of words pour ing out on the fallacy of forced retirement at 65 when many are capable of work ing much longer. - ' - The ' pensions go - on. IThe mutual funds are stored away for the time when one retires And now there's a drive on to sell variable annuities for re tirement annuities which will vary in their payment as the market moves up or down and are supposed to take up the slack of inflation of- the dollar. It wasn't many, years ago when a pensioner was a for mer government worker or soldier. Today he comes from many fields. At one time: the pensioner wasn't thought of too highly. Back in our Revolutionary War days, Samuel Johnson in England let his prejudices out a few notches when he de fined pension in his diction ary. Soak Up Stocks "Pension," said Dr. . John son of whom James Boswell wrote a big fat volume, ": An allowance made to any one without an equivalent. In England,, it is generally un derstood to "mean pay given to a state hireling for treason to hi country." Now a pension is honorable and so is a pensioner. -- Along with pensions, there are many other funds soaking up ' the cream of the stock market. There are college en dowments, generously season ed with common stocks, reli gious and charitable institu tion funds, closed-end and open-end investment company funds, and .many, others. Banks and insurance compa nies also invest large parts of their monies as much as the law allows in stocks. . These funds take up the bluest bloods of the market. And.recently.wthey have been taking them faster than new issues were floated. That o means a reduction in the sup ply of stock available. Se-eral Solutions So far the problem hasn't been too great and one can buy stock but not too much of it at a time. Market men note that a sizable buy order quickly brings a substantial jump in price. There are two things that could save the day so far as stock supply is concerned, and one. of them isn't ' considered good. That one is a decline in the market that would make Sawdust Medford Fuel Go. Tel. SP 2-2111 Court 1 McAnd I I more stock available. And the other is flotation of more equities which doesn't seem at hand right now and won't be until there Is a sharp pick. up in general business. Of course, there's another which isn't mentioned in Washington society. That is reduction of elimination of the capital gains tax. Announcing . . . NEW LOCATION! 766 South Grape Industry Council So. Oregon. Medford Pear Shippers Ass'n. Fruit Growers League. Contractors ssfn So. Oregon STANDING ON BALCONY (top), American Embassy per sonnel watch demonstration by Moscow crowd in retalia tion for riot by Hungarian sympathizers outside Russian United Nations office in New York recently. (UPI Telephoto ) The Family Council Editor's note: The Family Council consists of a Judge, a, psychiatrist, threa clerevmen. x newsoaDer editor, a women's editor and two writers Each article Is a summary ot an actiial report. The Family Council does not give advice; it merely reports on problems that have been dealt with by responsible agencies and counselors. Mrs. H. L. I should go to a nursing home Greta J- duty. -I want to do my Mrs. H. L. I'm an elder ly widow and until recently I had lived for many years with my oldest son and his family. I was very happy and com fortable there, but finally my son and his wife decided they wanted to travel around for a year and they sent me to live with my daughter. My daughter anijl never got along too well and now that she feels she has to take care of me; things are worse than ever. I am not too well and I suppose it is annoying to have to cater to mwants. I think it would be T5est for everyone concerned if I went to a nursing homI realize this would be quite an ex pense, but I think my son can afford it and would be willing to do it if he realized how unhappy I am living here. Greta J. My brother would hit the roof if I mentioned a nursing home to him and my mother knows it. She just does it to taunt me. She has always taken pleasure in sug gesting that I have no use for her and she would be at the mercy of a cold, cruel world without my brother. The fact is I love my mother but she does make things hard. My husband and I do not have my brother's money and live in a much more mod est way. AVe have a small apartment. Mother never goes out so we have no chance to ever really be alone as we were before. If only Mother wouldn't be so irritable and would get in the habit of going out, bit it wouldn't be so bad. I want to djRmy duty. The responsi bilitjbhas beenon my brother too long. O The Council: Many elderly persons are a bit too ready to take on a role of more help lessness and dependence than is necessary. Then they feel they are a burden to others. This seems to be the case with Mrs. H.L. Men and women like Mrs. H.L., feeling their increasing age and infirmity, are fright ened and wonder if their chil dreno really want them any more. Just to find out whether they are still loved they make things a bit harder than need be, and children who might otherwise willingly take on their. responsibilities begin to feel a bit resentful. The par ent feels his question is an swered. He is unwanted. Children, on the other hand, often fail to realize their eld erly ; parents require reassur ance of affection. They wilt and become disagreeable with out it and flourish when they get it. . Greta, for example, should have recognized that her mother felt lonely and dis: possessed after long years in her son's home. It was Greta's business to make her mother feel at home, to introduce her to the new neighborhood, to help her find friends. If she had done so, Mrs. H.L. would have been more inclined to o out and would feel far more cheerful. ' Mrs. H.L. should make the effort to take care of her own needs and to contribute as much to the household as pos sible. It may be a little hard physically at times, but she will feel much better for the effort. It will help her feel independent and less of a bur den? She should also try to de velop some interests which she can pursue alone in her room, so she won't have the feeling of being unable to oc cupy herself without her daughter. i (Copyright 1858, General Features Corp.) Bristol is . a twin city, half in Tennessee and half in Virginia. PEN ; NIGHTS.'1 SHOP FROM 9 A M. TILL 8 PM. Thru TWsday Closed, the 4th Satosday 9 an. fc 5:30 p.m. Lucas & Howard's BIG STORE- WIDE JULY SAVE ON - Furniture! Floor m Covering! FREE SODA POP FOR EVERYBODY! 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Semi-Annual FINANCIAL STATEMENT June 30,-1958 Assets First Mprtgqg Loon loons on Saving Accounts. Othfr Loans A 1 Co Properties Sold on ContractJ : Real Estate Owned and in Judgment Investments and Securities. 'United States Government Bonds Cash on Hand and in Banks Office Building and Equipment. Deferred Charges and Other Assets. $10,771,713,3? 76,550.15 9,175.59 20,713.27 12,405.53 199,600.00 931,095.84 . 1,473,578.79 57,303.43 87,348.84 $13,639,484.83 Savings Accounts Loans in Process Other ' Liabilities Specific Reserves General. Reserves Undivided Profits LIABILITIES .$11,809,674.59 283,842.26 . 192,657.14' 15,799.44 1,106,107.54 . ' 231,403.86 $13,639,484.83 Atove Average Earnings Because we specialize-in sound and prof itable type of investment, and because all earnings of this Association, after expenses and pro vision for reserves, go to our savers, you receive dividends here that are above the average. . 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