Image provided by: University of Oregon Libraries; Eugene, OR
About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Oct. 30, 1958)
t 16 MAIL TRIBUNE, M.dford, Oregon, Thursday, October 30, 1931 Simple Explanation of Mutual Fund Given by Investment Head Mm By ELMER C. WALZER UPI Financial Edilor New York 0.TL The other day the daughter of a Boston executive asked him: "Father, r" what do you pjt 3 know about , mutual funds." ' S' She explain- ""6 Aj 4V,-. . fncnJ 7 had been by to starting a cu mulative pro gram in such a fund timer Waller "He sounded very interesting, sne saia "but I'm wondering what you think about mutual funds." This Boston businessman living in a city that is the headquarters of many a giant mutual fun d admitted he was stumped j u s t couldn't give a real answer. The mutual fund industry has grown from less than $500 million in assets in 1940 to nearly $12 billion at present, and many still don't know what a mutual fund is. So this department asked Henry T. Vance, senior part ner of Vance, Sanders & Co., and president of the $177 mil lion Boston Fund, for a simple definition of a mutual fund. Here it is: Diversified Investment "A mutual fund (or invest ment company) simply com bines money set aside by thousands of individuals in one large investment fund. Professional management is employed by the mutual fund to select and diversify (spread the risk) investments among a broad cross-section - of com panies in many industries, and to keep these investments T RUSSIAN WINNER Rus sian physicist Pavel A. Cher enkov, discoverer of the "Cherenkov effect," has been awarded the Nobel Prize for Physics. It is be lieved the Cherenkov effect may have been put to prac tical use in Russia's sputniks. Chinese Reds May Use Sneak Attacks Taipeh, Formosa-(UPD-Adm. Liang Hsu-chao, commander of the Chinese Nationalist Navy, said today the Commu nists may soon send large warships and submarines into the Formosa Straits to attack Nationalist vessels. Liang, in a congratulatory message to naval personnel credited with meritorious service in the Quemoy area, said the Red Navy may open a second stage in the offshore island fighting with sneak at tacks from larger naval ves sels. Civilian authorities on Que moy reported that 99 civilians have been killed in the Com munist bombardments that started Aug. 24. They said 252 civilians have been wounded, 96 seriously. Mili tary casualties were not announced. Singer Dean Martin Files Damage Suit Los Angeles -dTD- Singer Dean Martin Wednesday sought $90,000 damages in a Superior Court suit growing out of a traffic accident last Aug. 24. Donald Robert Seddon, 39, of nearby Santa Monica, Calif., was named defendant in the suit which charged he rammed a car driven by actor Tony Curtis in which Martin was riding. The singer asked $50,000 for injuries and $40, 000 for loss of earnings. ELUSIVE MONKEYS Milwaukee TUPD Summer may be over as far as people are concerned, but 47 monk eys on the Washington Park Zoo summer island won't ac cept its demise. Trainers were able to catch only half of the 97 monkeys that inhabit the island, for transfer to winter quarters. Louisiana's mechanized su gar industry harvests more than 200,000 acres of cane each year, about three-quarters of tjge United States crop. under continuous supervision "Thus by owning shares in a mutual fund the investor ob tains in a single certificate a managed investment repre senting a diversified list of se curities that he might not in dividually afford. "Mutual fund shares which are purchased through invest ment dealers with a sales charge of ahon 7 -t cent, are readily marketable. "If the investor ants to close out his investment or sell part of it, he sells the shares back to the fund itself. The price, of course, is based on the market value of the portfolio at the time of the transaction, and may be more or less than the investor's cost." 'Open End' Company A mutual fund is also called an open-end investment company. That means there is no specified number of shares outstanding. The number of shares rises or falls as the fund sells its stock or buys it back. There is a so-called close end investment c o m p a n y ! which has a fixed number of shares like an ordinary cor poration. These companies usually are listed on ex changes, and the shares traded like those of General Motors or U. S. Steel. Shareholders in mutual funds have, risen from 300, 000 in 1940 to 3,500,000 to day. Arthur Wiesenberger, ex pert on mutual funds, recent ly predicted that mutual fund industry will expand to assets of more than $40 billion with "at least" five million share holders by 1968. Explaining the popularity of mutual .funds, Vance says that a desire to hedge against inflation is only part of the answer. Long Term Holdings He points out that today's investor also is seeking diver sification, professional man agement, - and convenence in planning his investments. "A mutual fund," he says, "meets these requirements." Vance explains the mutuals are no get-rick-quick invest ment. "They- are used by many individuals in long-term financial planning for retire ment, to provide college edu cator and to possibly increase income over that which can be obtained from many fixed income types of savings." He points out that many trustees and institutional in vestors such as college endow ment funds, profit sharing plans and religious organiza tions are putting their money to work in mutual funds in increasing numbers. This, he adds, has given the mutual fund an even greater impetus. Maybe All Polls Should Be Checked Indianapolis -IUPB- Call this coincidence? Republican State Chair man Robert Matthews said to day that to prevent fraud federal supervision of the polls is needed Nov. 4 at In dianapolis, East Chicago, Evansville, Gary, Hammond, South Bend and Terre Haute, all of which have Democratic mayors. And Democratic State Chairman Charles Skillen said the . .cities that need federal protection against vote fraud are Lafayette, Fort Wayne and Elkhart, all of which have Republican mayors. November Playboy Order Banned Washington -UPD- The Post Office Department announc ed Wednesday night it has ordered copies of the Novem ber issue of Playboy maga zine withheld from the mails following a complaint it is obscene. The department said its general counsel, Herbert B. Warburton, "Is of the opinion that the November issue . . . is non - nfailable and has instructed the postmaster at Chicago to withhold any additional copies offered for mailing t . ." TYPHOON KILLS TWO Manila -0PD- Typhoon Lor na skirted the central Philip pines Wednesday, leaving two dead and crippled communica tions in southern Luzon. SLAB WOOD Green & Dry Immediate Delivery Phelps Fuel PHONE SP 3-5878 K ilk Tht Fimilf Start 9 Hurry . . . Last 3 Days! Store Wide Sale Ends Saturday! SAVE WIZARD nri nvr ni CilA ULLUAL Of 42 Electric Range 495 Electric Oven Toaster Reqular 6.45 Grills, bakes, broils, makes but tered oven toast in 90 seconds! Tray & rack. JC1 139 Wizard Pop Corn Popper Regular 4.25 Tapered bowl. Stirs corn auto matically. JC1299 Other Popoert from 1.85 290 24' Wizard Food Mixer Regular 34.95 10-speed range, two bowls, jui cer attachment. Lift, it's port able! 2-way blend. JC1178 519 Electric Heater Regular 6.69 Heats up in a jiffy! Bowl type, reflector 'and guard chrome olated. Grey. J 1 1 87 ' . j WORRY-FREE Viewing Pleasure - GUARANTEED S Get low cott protection with o TV Pft Service Policy tailor-made for you! ak All Truetone TV prices include federal I l Afc 1 tax' Year's Warranty on all Parts & Tubes JNt (including Picture Tube), Normal Deliv- . , IL TRUETONE Big Screen PORTABLE TV SAVE $30 (d)95 n List Price 169.95 Lay Away for Christmas $5.00 Down - $1.75 Weekly So new, so fabulous we're .introducing it at Special Cost Reductions! Years-ahead en gineering' Truetone's exclusive "Surge Check" Tube Saver adds years of life to set! Push-pull on-off. 149 sq. in. Aluminized Picture Tube. See demonstration today! 2DC3900 24-Month Guarantee For Only J95 U And Old Battery 24-month Guar. For most 6-volt car. Reg. Outr. 14.10. 30-mo. 6-V. Del. Wold batt. . 9.95 I SteuUiJ 1198 Permanent Anti-Freeze Regular 2.39 50-50 mixture of Western Per manent, water protects to 30 below zero. Gal. ZC3 1 22. Western Std. Anti-Freeze 79 Regular 98c Low-cost protection. Guards to 20 below. 1 gal. 2C3142 oetorn rnhitn 101 South Rivcrside phone sp 2-6217 pUlU AjUlU 0PN every MONDAY UNTIL 9 P.M. National List $219.95 1TT $5.00 Down --$2.25 Weekly Buy now at big "Family Days" Savings . .' . enjoy your meals cooked with "Wizard Magic"! WIZARD Bonus Extras: Fiberglass Insulation! Exclusive Tongue & Groove Door Seal! , Porcelained Top with Non-Drip Edge! Famous Robertshaw Oven Control! Big Twin Swing-Door Storage Compartment & Service Shelf! - Frosted Racks! Built-in Design! Lay Away Time-Limited Offer! Hurry! Hurry! " FREE DELIVERY! Christmas FREE INSTALLATION! Jumbo Steel Wastebasket Co) (9) 2)C Big 28-qt. capacity. Red ena mel finish. K91 12 Quality Household Broom Sturdy corn fibers securely bound for long, tough service! 49 Blue handle. K9114 . Federal 3-Pc. : SAUCE PAH j SET j 98 SET lj R.gular 1.98 Smart Vogue pattern, white ena mel, red trim! K9200 Century Cast Iron Skillet 97 Regular 1.75 Best cooks prefer 'em for old fashioned flavor! K9021 Quilted nx I Mitt yainft V.' j Handle hot dishes! , 7" Pinking k Shears 88 X Reg. 1.43 I Cut many K9040 1 h'cknesse " "" easily! K9040 a 1001 Uses Broom $1.19 Reg. 1.92 Use for walks, garage, etc.! K9120 . Folding Wood Stool 79' Reg. 1.2f Take it with You any where! 9300 1111 Ki) so Buy Now & Save! Easy Terms! $4.50 Down $1.25 Weekly This price . . 3 Days Only! Hurry! Extras: 3-speed hub for less leg work! Lightweight Tires! Kick-stand! .Chain Guard, many othersl Boy's, Red; Girl's, Blue. 2F2902.3 WESTERN FLYER GUARANTEE Every Western Flyer is backed by the famous Western Flyer Written Guarantee! . . .' Your as surance of quality, safety and satisfaction! 14" Western "Convertible" Lay Away for Christmas 21 50 Free Training Wheels! Exclusive New Super Safety Coaster Brake! Red, White and. Blue! Save Now! Pay La ter! 2-in-l ! Con verts to girl's bike in a jiffy! 3FC1417 tECi330 24" Clicker Rifle 98c Value Authentic replica of Western carbine! Full-action trigger and hammer. Plastic. EC5330 Modeling Dough 98c Value Cleaner than clay! Basic colors form many hues. 4 cans dough, 4 cutters. EC6300 . CC7U4 10" Friction fflfify Army Truck iJ'' Regular 98c Enameled metal. Removable canopy, powerful friction mo tor. Army colors. EC7 1 04 j it . fi C5700 Vinyl Drink & Wet Doll 98c Value This 9Vz" charmer is dressed in diaper with large pins. Has bottle and nipple. EC5700 BATTERY IRON ith BUZZER 98c Value Baked enamel, chrome iron. Battery makes iron buzz and light. Does not heat. EC5604 iiii Fancy Black Cowboy Hat Reg. 98e 80 wool felt dyed fade-resist-- ant black. White gaucho-style stitched trim. EC5370
