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Novice Would Wince
Of Evaluating Firm, Walzer Says
BY ELMER C. WALZER
UPI Financial Edilor
New York (CPD Those
who think it's a cinch to place
a value on a stock ought to
read a brochure on the "Valu
ation l Going Companies for
Purchase or Merger," by the
engineering firm of Ford, Ba
con and Davis.
The novice would wince at
the process of evaluating a
corporation. Engineers care
fully take all things into con
sideration even good will
Quotes From the News
By Uniiod Press International
Washington Rear Adm. J. T. Hayward, the Navy's re
search chief, predicting that within five years the United
States will have nuclear-powered space vehicles capable
of making "deep penetrations" in space as far as Mars
or Venus:
"That's very deep."
Saratoga Springs, N. Y.
Baruch, on his 88th birthday
"I feel fine! But I can't do
pace myself now."
Chicago Actor Studs Terkel, in eulogizing Big Bill
Broonzy, the last of the "shoutin blues singers":
"On the morning Bill died there was rain and thunder and
lightning as though the very elements had recognized that a
big man had died."
Slyfield Green, England Four-year-old David Butter,
who, using a stick, beat off a 1,200-pound bull which invaded
a playground:
"The bull just stood still when I hit him. So I hit him
again. He stamped his feet. So I hit him again."
The Family Council
Editor's note: The Family Council consists ot a Judje, a psychiatrist,
Hire clergymen, a newspaper editor, a women's editor and two writers.
Each article is a summary of an actual report. The Family Council does
aot give advice; it merely reports en problems that have been dealt
with by responsible agencies and counselors.
Mrs. D.M. I want to get
out of Vera's way.
Vera M. I can't hide her
and my child.
Mrs. D.M. I am a widow
in my late 60's and I live with
my daughter and her 12-year-old
son. She was divorced
about six years ago.
I know that Vera is. very
anxious to marry again and
j. am oaicmu uiafa x aui ill nci
way. She has gone out with
a few men in the past several
years, but it never comes . to
anything. I feel that when
men realize Vera has a child
and an elderly mother to take
care of, they lose interest in
her.
I think it would be a good
Idea for Vera to take a place
by herself. I could take the
boy and we could move to a
community not far from her.
All uua noj nc cuuiu givf.
Vera a chance to let her re
lationship with a man devel
op. If he is interested enough
in her, he will later accept
the situation.
.
Vera M. Mother has been
driving me crazy with this
ridiculous idea of hers. She
keeps hammering away at it
night and day. It seems to me
about the silliest thing I ever
heard of. How can I hide
away my own mother and
child? What would the man
think of me if I suddenly pro
duced them?
It is true I would like very
much to be married again,
but I am beginning to realize
that it is almost out of the
question, handicapped as I
am. I am trying my best to
adjust myself to a bad situa
tion. Unpleasant as my lot is, I
don't regret my divorce. When
I got married I believed any
marriage was better than no
marriage. Well, I .soon learned
different. I wouldn't marry
again unless I was sure there
were no kinks in the works
on either side.
The Council: Vera's mother
and child are indeed handi
capping her but only be
cause she sees them as handicaps.
Time
W THESE SCREWS ASH THE " 0Z.
BEST THEY MAKE - BUG jjT
JcAN GET yl
i r, 1- - - "-ffisvt. iit awvai j
which the brochure reminds
the reader is perishable "you
might even say depletable."
And values change swiftly,
the engineers note. "Consider
Amerada at the time of the
discovery of the Williston Ba
sin; Lorillard with its success
with the Kent cigaret; Amer
ican Motors with the popular
ity of its small car, to mention
a few.';
In placing a value on a com
pany, the experts start with a
record of past earnings. They
Financier-statesman Bernard
anniversary:
as much as I once did. I have to
The fact that men become
interested in her and then
drop her when they realize
her responsibilities indicates
that she tends to present her
self to them as foot-loose and
free. Naturally, she attracts
the kinds of men who are
looking for such a woman.
If Vera accepted her respon
sibilities good-humoredly or,
what would be even better,
joyfully, she would attract the
kind of man. who jnight be in
terested in a woman of her
sort. Many men have respon
sibilities of their own and
would welcome the kind of
marriage that would mean the
joining of two households.
There are even some foot
loose bachelors who . might
prefer the kind of woman who
can offer an established home
that includes a child.
We agree with Vera that it
would be more than foolish
for her to attempt to hide her
mother and child. But we
feel she is unconsciously doing
just that at present.
Despite the problems they
present, we are sure Vera
must love her mother and
child and this is what she
must keep uppermost in her
mind and heart. This alone
will afford her happiness, and
her happiness will attract
others to her.
At present, Vera must be
doing great psychological
damage to the mother and
child, who both sense that she
feels they are in the way. She
must try to repair that dam
age. When she does she will
repair some of the damage
she has done to her own per
sonality. (Copyright 1958,
General Features Corp.)
FORD LEAVES CADILLAC
Detroit (UPD Henry
Ford is retiring after 45 years
with Cadillac. Ford, Cadillac's
relations manager and no re
lation to the founder of the
Ford Motor Co., is known as
"Harry?, to his fellow execu
tives at Cadillac, a part of
General Motors.
Salem (UPD Walter Gor
don, Portland architect, was
appointed to the Capitol Plan
ning Commission by Gov.
Robert D. Holmes Monday.
By Jimmy Hatlo
at Job
try to list all fagts relevant
to future earning capacity.
Selling methods are checked
and an attempt is made to
show how the company would
fare in slack times.
Organization Setup
And then comes manage
ment. "The fortunes of every
company depend on whether
the management, the organiz
ation setup and the controls
are adequate in keeping with
the nature of the business
And will continue that way.'
As for price-earnings ratios,
they vary according to the
company's outlook and are ar
rived at by judgment. "The
ratio is higher if the com'
pany's management is, good,
the prospects bright, earnings
steadily growing, debt moder
ate. In other words, if the
quality is high."
Ford, Bacon and Davis note
that just about everything in
the business world must be
taken into consideration
wealth underground such as
oil, gas, or minerals, wealth
above ground, such as timber,
reproduction costs, and mar
ket value of outstanding se
curities, to mention a few.
Stocks Not Guide
"If someone is willing to
pay good dollars for a stock
it would seem fairly persua
sive evidence of value," says
the firm. "It may be. Yet the
conditions can be such, it may
not be a good indicator at all.
"Take a small company
which recently brought in a
new oil field. If an unin
formed stockholder sells his
shares just before the news is
released, that transaction is
not likely to be a fair guide.
"And some stocks are de
pressed because of a low divi
dend pay-out. Still others vice
versa. The fact is there are
many reasons why minor
transactions do not necessar
ily indicate the value of the
business as a whole. Some se
curitites are so inactive, quo
tations are but a formality.
Some sales may be in the fam
ily, so to speak. Some are
forced."
Valuation, says the firm, is
the expression of opinion after
giving due regard to all the
pertinent facts and estimates.
The best opinion, it notes,
comes from men of experience
in this particular type of
work. '
All this adds up to a moral
for the prospective ( stock
buyer: " 1
Better leave the valuation
of stocks to the experts.
As Mitchell of Canada puts
it in his new, 1958 chromium
plated version of the nursery
rhyme applied to blind spec
ulation: "A young lady named
Jill with a little jack goes up
a steep hill but when she
comes down she hasn't any
jack."
U5S Ranger Arrives
In San Francisco
Alameda, Calif. (UPD The
USS Ranger, the world's
largest warship, entered San
Francisco Bay today and
docked at Alameda Naval Air
station, her new home.
The Ranger, a Forrestal
class super-carrier, has been
two months sailing around
the Horn from the East coast.
She visited several Latin
American ports on the way.
The 76,000-ton flattop was
almost resting on the bay
mud in Alameda Channel.
Her Reel draws 35 feet. The
dredged depth of the water
way is but 36 feet.
Bight tugs turned her mas
sive hull so she. could be
backed into her pier.
After civic welcoming cere
monies, the 3,500 men and of
ficers began shore leave. Her
skipper is Capt. Paul D. Buie
of Nashville, Ga.
. The ship will be assigned
to the Pacific Fleet and will
train with other units of the
West Coast's First Fleet.
Book Pictures Ike
As Weak, Indecisive
By DAYTON MOORE
United Press International
Washington (UPD Presi
dent Eisenhower is portrayed
by the author of a new book
as a weak and indecisive chief
executive who has failed to
use his powers to deal with
various problems.
Marquis Childs, Washington
correspondent for the St.
Louis Post-Dispatch and Unit
ed Features Syndicate colum
nist, is sharply critical of the
President in the book, "Eisen
hower: Captive Hero."
The tenor of the book is in
dicated by its subtitle; "A cri
tical Study of the General and
the President." Childs, who
has covered the national scene
for years, writes that Eisen
hower "must be put down as
a weak president . . . for his
failure to use the powers of
the office."
Eisenhower's handling of
the Little Rock school integra
tion, recession and post-Sputnik
problems .were credited
with resulting in a national at
titude of "unease and embar
rassment even" toward the
President and his administra
tion. Prisoner of Office
"He appeared more and
more as a prisoner of his off
ice, a captive of his own inde
cisiveness, a captive of the
hero - worshipping public, a
captive of the agonizing di
lemma of an era of nuclear
The Hollywood Scene
BY VERNON SCOTT
Hollywood Correspondent
. Hollywood (UPD Cliff Rob
ertson, a competent young
actor who has starred in a few
pictures, is searching for a
gimmick or. trademark that
will catapult him into the big
time with such stars as Mar
lon Brando and Gary Cooper.
"You must establish an
identity with the public or
you're lost," the dark haired
Robertson maintains. "I'm not
looking for a phony pitch, but
Teen-Agers Swim
To Seek Assistance
Panama City, Fla. (UPD
Three teen-age boys today
were credited with saving the
lives of 42 passengers and
crewmembers stranded on a
sinking party boat.
The youths swam eight
miles to shore for help when
the 80-foot Trade Winds ap
parently struck a submerged
object and began shipping
water off Laguna Tuesday
night. ' .
The crew and passengers
immediately began bailing
but the water flooded all
three engines and damaged
the radio. Johnny Jackson,
15, first mate; Juke Savage,
16, a deck hand, both of Pan
ama City, and Bobby Bullock,
a teen-age passenger, plunged
into the water to summon
help.
They swam the eight miles
in about four hours and no
tified" authorities. The passen
gers and crew meanwhile
scrambled on to the super
structure of the boat as the
craft sunk as far as the gun
whale. A U.S. Coast Guard cutter
and party boats went to the
aid of the Trade Winds and
took the stranded crew and
passengers.
Minister Declines
To Judge Contest
Blendworth, Eng. (UPD
The Rev. William Rees, a 41-year-old
country parson, to
day turned down an invita
tion to judge a beauty contest
on the ground beauty is more
than skin deep.
He said it is "all wrong" to
judge beauty by inches.
Organizers of a beauty con
tesct at the seaside resort of
Southsea invited Mr. Rees to
officiate at a "Miss Southsea"
competition scheduled for to
day after learning that he had
teed off on beauty contests in
his parish magazine. South
sea pier manager David
Evans suggested the church
man judge contestants by his
own standards.
"I gave the invitation some
thought and decided to de
cline," the Anglican vicar
said. "I felt that a man could
not really assess the beauty
of a girl by just looking at
her.
"I would want to meet her,
and get to know her person
ally before I could judge her
real beauty. It is all wrong to
judge beauty by inches."
"RADIOACTIVE" TEA SAFE
. Washington (UPD The
Food and Drug Administra
tion has ruled that radioactiv
ity in a cargo of Japanese tea
that arrived in New York last
month was far below the dan
gerous level. It said the tea
was safe for human consump
tion. '
annihilation in which man's
old savage instincts lay close
to the fragile surface of law
and order," Childs said.
Eisenhower's prestige "had
all but vanished" in Western
Europe by early this year be
cause he had "defaulted on his
responsibilities," the - author
charged.
Child's said Eisenhower
wasn't up to unifying and in
spiring the nation in the after
math of Little Rock and the
Sputniks because as "the com
promiser, the reconciler," he
had never had a strong
enough sense of mission.
Humphrey Strongest
Former Treasury Secretary
George M. Humphrey was
credited with being the strong
est Cabinet member in the
first four years of the Eisen
hower administration. Humph
rey, "more than any indi
vidual, except the President
himself, set the tone1 of the
Eisenhower era."
Childs blamed the cutback
in military spending before
the Sputniks on the Humph
rey influence, but criticized
Eisenhower for approving it.
The President also was criti
cized for waiting five years to
put forward a defense reor
ganization plan.
As the head of the Republi
can Party, Eisenhower "has
lacked both the knowledge
and the capacity to do very
much" about making it over,
the book said.
By HAZEL JOHNSON
United Press Writer
every young actor needs a
means of recognition. Once
you've discovered some in
delible trademark half the
battle is over."
Robertson backed up his
case with examples.
Charles Laughton, he points
out, might have remained just
another character actor if the
"Mr. Christian" line had
never appeared in "Mutiny on
The Bounty." And Gary Co
oper's "Yup" provides a class
ic example.
Physical Characteristics
"Trademarks crop up ac
cidentally in roles, or grow
out of physical character
istics,'' Cliff explained. "Ed
die Cantor's eyes and Joe E.
Brown's mouth, for instance.
"Yul Brynner's bald head
is the best modern case on
record. His noggin made him
famous overnight."
Charles Boyer never spoke
the words, "Come weez me
to zee Casbah," but that's the
first thing that comes to mind
when the French actor's name
is mentioned.
Katherine Hepburn's repu
tation didn't suffer from her
famous line, "The calla lillies
are in bloom again."
Both May West, "Come up
and see me sometime", and
Greta Garbo "I want to be
alone", capitalized on public
identity with their most
famous utterances.
Making The Grade
"You have to be more than
talented, or . young, or good
looking to make the grade,"
Cliff went on.
"Rock Hudson is a big star
who hasn't latched onto a
gimmick. But he is a box
office personality more than
he is an actor. I know dozens
of young actors who are bet
ter performers, but they have
n't had the breaks."
Robertson's big opportunity
rolled around earlier this year
with the lead role in "The
Naked and The Dead," now
in release.
"Some actors are fortunate
enough to establish a trade
mark in their first pictures
like tough guy Alan Ladd.
And they're able to build an
entire career on a single
characterization.
"Right now people recog
nize my face and name sepa
rately. Someday, with luck,
maybe they'll be able to put
the two together, but it would
help if I had a trademark go
ing for me."
S M I T H - D Y N G E
lumber Co.
8th &
Fir St.
Daily's U-Drive
Medford Airport
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