8 MAIL TRIBUNE, Medford, Oregon, Friday, October 24, 1958
N.Y. Stock Exchange President Advocate Of
New York -1TD- G. Keith
Funston, the 48-year-old presi
dent of the New York Stock
Exchange, is chief apostle of
what he likes to call "people's
capitalism," getting more and
more people to own part of
America's businesses.
Funston left a post as pres
ident of Trinity College in
Hartford, Conn., seven years
ago for his present job and he
startled some traditionalists
in Wall Street by insisting on
pushing a program to broaden
the base of stock ownership.
Farmers Still Resist
His chief obstacle was over
coming the mystery that had
so long surrounded Wall
Street, the feeling of the aver
age man that he was in for a
fleecing if he got mixed up
with the wolves in the big
city.
It is interesting to note that
the one group which still re?
sists buying stock are the
farmers. They form a very
small percentage of the nine
million Americans now own
ing shares.
Robert Wilson, former head
of Standard Oil of Indiana,
had a scheme to interest them.
He wanted to sell Standard
Oil stock in every one of the
company's filling stations in
the Middle West. But law re-
i.
,
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'People Capitalism'
Funston, ah energetic man
with wavy hair and horn-rimmed
glasses who looks more
like a football- coach than a
financier, is an evangelist of
"people's capitalism." Here is
what he said in one of his
speeches:
"This development, revolu
tionary in its progress, is like
ly to prove revolutionary in
its impact. It will provide the
means of reaching the goals
and broadly distributing the
profits of an industrial system
that is restlessly moving up
wards. "On their own volition, as
free men, Americans can pur
chase a share in almost any
one of America's great busi-
ng More People To Buy Shares
nesses.'This is a system Rus
sia cannot match in any re
spect." Far from all financial ex
perts agree with Funston. Wil
liam A. Lyon, president of the
National Association of Mu
tual Savings Banks,. had this
to say recently:
"The stock market, rather
than being a mirror reflecting
the inflationary tend encies
arising elsewhere in the eco-
Theyll Do It Every Time"
By Jimmy Hatlo
AHO WHEM I S4Y I'LL
CUT TAXES-I ME4M EX4CTLV
7H4T WHEN I PROMISE VOU
TO BUILD HEW SCHOOLS AMD
MOVE THE QAR8A0E INCINER
AlOQ CAST OF TOWN THESE
THIMSS SHALL BE DOUBJJ
WHEN I MAKE A PROMISE
TH4T PROMISE IS A
THE OPPOSISH
OUGHT TO ET-
HOLD OF SNIFTER'S
WIFE-HE'S BEEN!
PROMISING HER
4 SKUNK COAX
SlMCE THEy WUZ
MARRIED
LAST MIGHT HE TOLD
THE GA PHASE MEM'S Y dc a, co
SOCIAL CLUB HE'D TEAR PROMISED HE
TO ENLARGE THE just FIVE minutes.
INCINERATOR-
THAT'S MV UMr.l P '
HE SWORE TO AUMT
f GONDOLA HE WASN'T
GONNA RUN ANY
MORE-SAID HE'D
MAKE HIS PILE
-4ND QUIT'
THAT WAS AN
HOUR AND A
HALP AOO'
GETTING THE STORV
BEHIND THE STOCy ON
THE LOCAL POUmaAH-
tuauy Ann A TiDnc-njc hat
TODOHTUOMOMI. rfa4
Brohx, N.y.
EAST EVANS CREEK
Visitors Are Listed
By NELLIE BERGMAN
East Evans Creek-Mr. and i
Mrs. Paul Mattison and Caro-
lyn of Grants Pass visited
friends in the Meadows recently.
Several men in the Mea
dows have their bucks.
Mrs. Rhoda Fry and Elmer
Dawson of Prospect were re
cent visitors at Carl Bergman
home, as were Mr. and Mrs.
Jas. Gregg of Central Point.
Ward Week Wishing Well WltlHER
LAWRENCE W. ANDERSON
742 West McAndrews Road
' HIS WARD WEEK WISH:
30.06 HUNTING RIFLE
With Scope and Mount
,Cpl. and Mrs. Harvey N.
Dutton and daughter, Connie,
who have been stationed at
Connecticut in Army guided
missile training, have been
visiting friends and relatives
for the past month. They plan
to leave soon for El Paso,
Tex.,, for another year of
training.
Emery Stingley has been on
the sick list recently.
Mr. and Mrs. John Eek and
sons, Danny and Randy, visit
ed at the Carl Bergman home.
The . Vinson Hunt' family
had Sunday dinner with F. H.
Haworth family on the Butte
Falls road. It was Ronda's
birthday.
Mr. and Mrs. LeRoy Wehd
of Trail called at the Carl
Bergman home. Mrs. Wehd is
Mrs. Bergman's niece.
Mr. and Mrs. Amos Maples-
den and son, Sidney, attend
ed the wedding of a nephew
in Canyonville Saturday evening.
T. L. McClelland of Long
Beach, Calif., is in' the valley
spending a month's vacation.
He is visiting his sister, Mrs.
Guy Bishop, and friends in
Medford and Eagle Point.
The two Bishop families
and McClelland spent the first
part of the week salmon fish
ing in the Alsea river at Wald
port. Due to late rains the
fishing was poor and only two
silverside salmon were caught
by the party.
Dr. Bishop and family re
turned to their home in Aber
deen, Idaho, Sunday, to re
sume work in the Idaho ex
periment station and start to
school again after the potato
harvest vacation, which is an
institution of Idaho.
Dr. and Mrs. Guy Bishop Jr.
and daughters, Kristie, Kathie
and Kerrie Lou, have been
spending two weeks in the
valley visiting Mr. and Mrs.
Guy Bishop Sr. and Mrs. Bi
shop's parents, Mr. and Mrs.
Ben Dawsons, of Ashland, and
other relatives.
Mr. and Mrs. Jess Terry of
Central Point entertained
Sunday with a dinner at their
home in honor of their son,
Don, home on leave from the
Navy, and the wedding anni
versary of Mr. and Mrs. Tylie
Evans, and the birthday of
Tylene Evans, John and Joe,
Terry and Mrs. Lloyd Beers.
Other guests were Lloyd
Beers and Mr. and Mrs. Ray
Bornham and Susan McAllis
ter of Beagle, Mrs. . Charles
Terry and daughter, Debbie,
and Dorothy Terry of Medford.
Presley Checked
To Avoid Riot
Frankfurt, Germany - (UPD
American rock 'n' roll star
Elvis Presley did everything
but walk out on the stage
Thursday night. Police held
him back fearing a riot.
Presley turned up unex
pectedly at the premier per
formance in a movie house
here of rock 'n' roller Bill
Haley, who was opening an
11 -performance tour of Ger
many. Elvis whistled, hummed,
stamped his feet and even did
a few of the gyrations which
have become his trademark
but all in the wings. The audi
ence never saw him.
Police, fearing an unexpect
ed appearance by Presley
would start a riot among the
packed teen-aged audience,
asked him to let Haley take
all of the limelight.
Presley, graciously, but re
luctantly consented, and left
the theater immediately after
Haley's performance. He is
stationed near here with the
U.S. 3rd Armored Division.
Your A future is
- mV career
' Glenn R.
Jennings F 4
216 East Main, Medford, Oregon Phone: SP 2-8005
Expectant Mother
Saves Infant Son
Fenton, Mo. - (UPD - An ex
pectant mother proved to be
a better swimmer Ythan she
thought and rescued her in
fant son from the chilly
waters of the Meramec river.
Mrs. James Hawkins, who
is expecting another child in
three months, told authorities
she was standing near the
river when she saw her 18-month-old
son floating in the
water.
Although a poor swimmer,
Mrs. Hawkins plunged into
the water and swam 25 feet to
recover her son. The baby,
James JrJ was revived at a
hospital.
nomy, is proving itseit to oe
one of the prime originators
of inflationary fears.
"The steeply and steadily
rising stock market generates
investor worries over infla
tion, which leads to more buy
ing of stocks, which leads to
more anxiety over inflation,
and on and on it goes, feed
ing on itself."
No mater how much stress
is put on long-term invest
ment in, buying stock,- the
'market will never lose the
aura and attraction of gamb
ling. You can still make a fast
profit-and you can still lose
your shirt.
In the hundreds of brokers'
offices across the country
men and women sit by the
hours to watch the fluctua
tions of prices on the big
board on the wall.
It is the boast of one big
brokerage house in New York
that a customer in San Fran
cisco can order a stock pur
chase or sale and have it ac
complished and confirmed
within 60 seconds. .
Many Miles of Pacing
Vortex of this atmosphere
of speed is the Exchange
floor. One broker had a pe
dometer strapped to his leg
and it was found he was cov
ering 12 miles a day hurry
ing around the Exchange
floor.
There are still unscrupu
lous brokers.,One of the slang
terms in Wall Street is "boil
er room." Its definition:
"High pressure . peddling
over the telephone of stocks
of dubious value. A typical
boiler room is simply a room
lined with desks or cubicles,
each with a salesman and
telephone. The salesmen call
what is known in the trade
as sucker lists."
But the emphasis today is
unquestionably oh'invest
ment, not speculation. More
than a million shareowners
have never been in a broker's
office and watch only casual
ly the ups and downs of their
stock.
Their stolid indifference to
rumors and their refusal to
panic are enough to turn any
old Wall Street wolf gray.
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'59
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SUPPLY BEAR BLOOD
Gatlinburg, Tenn. - (UPD -The
Federal Bureau of Inves
tigation has' added bear blood
to its list of laboratory sup
plies. Agents said they now
will be able to produce evi
dence, by means of matching
blood samples, " against per
sons suspected of illegally
killing bears in the Great
Smoky Mountains National
Park.
LOW-PAYING JOB
London - (UPD - The Earl of
Dundee took over as minister
without portfolio today, re
placing Lord Mancroft who
resigned because he couldn't
live on "the job's $10,000 a
year salary.
We Give
GREEN STAMPS
CENTRAL REXALL DRUG
Main and Central "
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1 ih::3FLY.for,fftEE
...on AMCY IFU
THAT'S RIGHT. Only 1 patient out of 3 is1 a subscriber.
The other two must pay.
Any resident living within 150 miles of Medford, Ore
gon, can and should be a subscriber to Mercy Flights. At
$4 a year per family, it is the only way that a wage
earner can afford air ambulance service for his family.
Accidents don't just happen to "someone else." The most
common comment by Mercy Flights patients is: "I never
thought that WE would need Mercy Flights."
If the time ever arises when your family is saying this,
wouldn't it be better to be a subscriber? For a non-subscriber,
the fee is $70 for every 100 miles the patient
is flown.
Published as a public service by the Medford Mail Tribune
NO OTHER
AREA...
-in the United States has a service like
Mercy Flights. The three twin-engine
planes are operated for only one rea
son, and that is to save your life.
Don't wait until it's too late! If you are
not a subscriber, send your $4 today
to: '
' MERCY FLIGHTS, INC
Box 522
Medford, Oregon