0
Tuesday, June 16, 1959
MAIL TRIBUNE. Medford, Or.
13
TheyH Dp I Every Time
ln.- By Jimmy Hatlp
The Inquiring Mind
This series of articles, on many different subjects,
results from work by senior students at the school of
journalism at the University of Oregon. Each is a. con
densed version of a full-length thesis written as partial
requirement for graduation at the schooL
Smoother S g-ss,
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Investment Firms $15
Business During Past
By ELMER C. WALZER
UPI Financial Editor
New York flJPD Investment
companies have risen to a $15
billion business at the present
time r o m a
iitue more
than $1 billion
20 years ago.
- Arthur Wie
s e n berger of
the stock, ex
change firm
that bears his
name, brings
that out in his
er Walzer annual book,
"Investment Companie s."
, This book now in its 19th
year of republication is con
sidered the bible of the invest
ment company industry.
It gives details on all the
investment funds. In addition
it plots a course for invest
ment generally with earnings
against pitfalls .that might
hurt the investor.
Dangers in Speculation
Noting there is nothing
wrong with speculation, Wie
senberger in his foreword
frT
1
- V
, -J
Scientific Theory
O n Ca nee r Sa id To
Have Bad Affect
By DELOS SMITH
(UPI Science Editor)
New York (DPD-The scientif
ic theory which has guided
much of the total world effort
to solve the
cancei;' riddle
for more than
50 years, "has
resulted in no
good thing,
. but in much
that is bad."
This is no
- ordinary criti
aaJ cism : because
Delos Smith
it is the criti
cism of Dr. Peyton Rous who,
though he is largely unknown
Lto the general public, is a
grade-A international celeb.ri-
1 ty in cancer -science. - f '
. Some of the 'Jbad," he said,
. is that devotion to the theory
has caused many scientists to
conclude cancer is "inherent"
, in life itself and therefore
can't be solved until the very
secrets of life are solved.
,' . "Here is fatalism to blast
;many a hope and effort," he
. continued. "Fortunately, the
public, now empowering
large-scale attempts to cure
cancer, are a hard-headed gen
eration. They have learned
the lesson of the antibiotics,
substances, transcending , all
medical preconceptions."
Research Urge Dulled
. 'But "most serious" of the
"bad" is the effect of the the
ory -on scientific research
workers. "It acts as a tran
quilizer on those who believe
in it," said Dr. Rous, "and
this at a time when every
worker should feel goaded
:now and again by his ignor-
.ance of what cancer is."
; The theory is the "somatic
mutation hypothesis,5' and it
should be understood that in
science, theory is most useful.
' You take the known facts and
from the way you relate them
to one another, you try to get
an idea of the nature of the
unknown facts. When you get
that idea, you have something
;to prove or disprove. ;
: The most conspicuous fact
about cancer is that cancef-
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warns against the prospect of
one who thinks he invests
and winds up speculating.
"All too often is speculation
undertaken unwittingly by un
wary investors," Wiesenberg
er says. "Most know the pat
ent risks of speculation, but
few are aware of the latent
risks.
"As profits mount in a ris
ing market, a feeling of com
placency and satisfaction is
only natural, but the investor
should not mistake good luck
and good fortune for intelli
gence and wisdom.
"Riding stocks up in a
bounding market can be like
driving a car through moun
tainous terrain. One jar of the
wheel, one moment of inat
tention and both car and driv
er can be in trouble. At such
times the use of investment
company shares as a vehicle
for sound investment is hot
only desirable but well-nigh
indispensible."
Inflation Spreads
He devotes a chapter to in
flation with the admonition
ous cells arise somehow out
of the normal cells which are
called somatic or body cells
t& distinguish them from the
germ cells which have the
power to initiate new and in
dependent life. Germ -cells
'mutate" or change and when
it happens, their descendants
can be freed of laws which
governed the parents.
From this last fact, you can
get the idea that somatic cells
also mutate. When you add
the fact that cancerous cells
are outlaws when compared
to the normal cells from
which they originated, you
have. the "somatic mutation
hypothesis." But the followers
of this theory, Dr. Rous said,
have yet to prove that the
somatic cells of human beings
mutate.
They have proved that the
somatic cells of plants and of
the lower forms of animal life
do mutate and this, of course,
has given more reason for
faith in the theory. They have
also proved that "hundreds"
of chemical substances and
outside conditions can start
the cancerous process in hu
man bodies, but they have yet
to show that any of these set
off 'mutations" in normal so
matic cells. .
Rous' Theory
Dr. Rous, who will be 80
years old next October, is an
adherent of the theory that vi
ruses set off the cancer proc
ess. ' He -proved beyond any
quibble that a certain type of
cancer of chickens is caused
by a particular virus. That
cancer is now called . "Rous
virus sarcoma." It is the bas
is of his celebrity in science,
although he has made many
more contributions.
Since his discovery, a num
ber of .other viral cancers
have been discovered, but on
ly in animals. So far no hu
man cancer has been proved
to be of viral origin. Howev
er, these animal facts are the
basis of the theory that virus
es cause human cancers.
If so, Dr. Rous references
to the lesson the "hard-headed"
public learned from the
antibiotics, is apt. The anti
biotics cure diseases caused
by bacteria which once were
considered incurable, as can
cer still is. From this fact a
theory can be developed that
it would be possible to deal
with human cancer viruses
(if they exist) just as effect
ively.
Dr. Rous, a native of Balti
more, has been affiliated with
the Rockefeller Institute since
1909. He attacked the "so
matic mutation theory" in the
technical journal, "Nature."
Billion
20 Years
that inflation has been going
on here for at least 25 years
and has spread to most of the
nations of the world,
"Actually," he says, "infla
tion calls for no change in the
rules of investment, although
it may involve a change of
attitude or modification of at
titude upon the part of the
investor. For what inflation
does is to speed up economic
and financial events and in
crease the velocity of change."
Wiesenberger devotes the
first 123 pages of his 416 page
book to text on all phases of
investing, stressing investment
company issues. The remaind
er is devoted to individual in
vestment companies.
A chapter -on "life insur
ance and your investments"
proved popular last year and
has . been expanded in the
latest edition.
Fallacies of Reasoning
The author notes it is the
intention of this chapter to
show the fallacies in certain
types of reasoning about life
insurance. These misconcep
tions, he says, unfortunately
have probably led many peo
ple to pay for far more than
they needed to and still get
less protection than their cir
cumstances required.
"These misconceptions," he
adds, "may also have dis
couraged people from invest
ing at least a part of their
savings in common stocks,
which in the past have helped
reduce the effects of infla
tion."
. He notes that large invest
ors who have the means to
obtain investment manage
ment are in many instances
turning to open-end invest
ment company shares a
move he looks upon as highly
significant.
For Smaller Investor
These open-end companies,
he notes, were designed origi
nally for the smaller investor,
But the large investors like
the availability-of past rec
ords, the diversification, and
liquidity of the shares, he
says.
Open-end companies are
those with no fixed number
of shares outstanding. The
company buys and sells its
shares as the demand requires.
Any investment company that
is ready to repurchase its own
shares at or near asset value
is considered an open - end
fund. . ;
Beatty Cattleman
Temporarily Wins
- Pum People War
Beatty -(CPD- Cattleman
Jay Fair claw, with the help
of the Oregon State Game
Commission, has destroyed
a dam. rediverted his diver
sion ditch and won a war
with the Pum People.
The Pum People are beav
ers, so named by Indians
of the nearby Klamath
Reservation. :
The beavers began build
ing their dam across Fair
claw's diversion ditch using
trees as large as 16 inches
through.
Fairclaw needed the wa
ter for his ranch and opened
the battle with the furry,
flat - tailed engineers. He
wasn't too successful.
He hung a lighted lan
tern, following a neighbor's
suggestion, but the beavers
blew out the light and went
back to work.
Jack Thomas of the Game
Commission moved in and
trapped two of the builders
and one red-tailed hawk.
Rancher Fairclaw be
lieves the beavers had the
help of beaver friends who
may return, and is keeping
his fingers crossed.
Last year about 200 indus
trial concerns began using
radioactive by-product mater
ials. Argentina was ruled by the
Spaniards for 300 years until
it proclaimed ints independ
ence in 1816.
THE 49TH STATE- ITS
PROBLEMS AND FUTURE
By Daniel W. Davies
Many romantic stories have
been told about Alaska, our
49th state, and although the
truth may have been liberally
mixed with fiction, Alaska is
truly the land of tomorrow.
Physically, the state is 586,
400 square miles in size, one
fifth the size of the other
48 states together and more
than twice the size of Texas.
If it were set down in the
Middle West it would cover
Minnesota, and about half of
Nebraska and the Dakotas.
In this enormous area Alas
ka houses fewer persons than
any other state in the union
except Nevada. As of Janu
ary 1, 1957, the estimated
civilian population was 155,
700 persons and military
population figures, . available
only through 1956, fluctuated
that year between 45,000 and
50,000 persons. .
People Support Stale
Yet one can't truthfully say
that Alaska supports even
that 200,0.00 plus population
today because in many cases
it is the people who support
Alaska. In 1957 the tourist
trade took in 829,000,000 and
since World War II Alaska
has been riding along to a
substantial extent on defense
construction expenditures.
Originally discovered in
1741 by Vitus Bering, a Dane
Preliminary Hearing
Set for Wednesday
. The case of Orin S. Bow
man j Pasco, Wash., charged
with uttering and publishing
a false check, was continued
until Wednesday at 9:30 a.m.
in district court for a pre
liminary hearing.
Bowman is charged with
issuing a bad check for $23.61
to the Groceteria Super Food
Market on April 7. Bowman
had previously appeared in
district court Friday when his
case was continued until yes
terday. Tops Everything
9144
12-20,40.42
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- - I I
POI
IVY or 'SUMAC
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1
who sailed under orders from
Catherine the Great of Rus
sia, Alaska has a history as
our frozen north treasure
chest that has been exciting
and occasionally stormy.
The Russians established a
settlement on one of the is
lands in 1784 and began at
once to ravage and deplete
the northern country of its
rich furs and skins. By 1885,
because of world political con
ditions and the condition of
the trading and trapping busi
ness in Alaska, the Russians
were anxious to dispose of
the territory.
Sold to U.S.
As every school child In
America knows today, in
1867 Secretary of State Wil
liam Seward negotiated for
and finally agreed to pay
$7,200,000 for the "useless
piece of frozen tundra,"
Since 1867 Alaska has yield
ed more than $1 billion worth
of minerals alone. In 1857 the
leading income sources were
based on natural resources:
Fisheries, $79,229,265; timber,
$38,900,000; mining $24,921,
000; furs, $6,832,000; and ag
riculture, $4,500,000. At the
present time the mining and
fishing industries are on the
decline and agriculture and
construction are gaining in
importance.
Today in the new state one
of the most plentiful ingredi
ents is optimism. When Alas
ka became the 49th state the
federal government gave it the
largest land grant in the
United States history. Uncle
Sam promised Alaska 103,-
350,000 acres of its total area
of 375 million acres. This
means that the state will own
more than one-fourth of its
total acreage, with the specific
areas to be selected by
Alaskan officials during the
next 25 years.
Retail Trade Tops
According to figures releas
ed by the Census Bureau in
1956, retail trade in Alaska
was the state's largest employ
er. There were at that time
890 retail traders, including
281 eating and drinking
places, 102 grocery stores, 75
clothing stores, 36 auto deal
ers, 37 building materials and
farm equipment "stores, 34
liquor stores, 32 furniture and
appliance stores, 14 jewelry
stores, and 13 fuel and ice
dealers.
The majority of these estab
lishments employed between
one and three persons and
there were only three which
employed more than 100.
Public utilities employed
3,923 workers; construction
had 2,968 persons on the pay
rolls; manufacturers employ
ed 2,635; food and kindred
products employed 1,082; lum
bering employed 550; and
newspapers supported 264.
The. report shows that serv
ices provided work for 2,696
persons and wholesale trade
merchants' employed 1,159;
there were 912 persons em
ployed in finance, insurance
and real estate, but mining
accounted for only 788 jobs
Labor Surpluses
Despite the fortunes that
Alaska has provided in the
past, it is not yet ready to
support a large influx of per
sons. In October, 1958, Fair
banks, Anchorage and Ketchi
kan were classified by the
U.S. Department of Labor as
surplus labor areas. This prob
lem was partly attributable to
seasonal layoffs, but before
the employment problem can
be overcome additional indus
try must be attracted to the
state.
Observers seem to feel that
the race will be on in Alaska
if and when the oil industry
develops. Although explora
tions have been conducted for
many years, it wasn't until
July, 1957, that a real gusher
was brought in. The Richfield
Oil Co., drilling on the Kenai
Peninsula near Anchorage,
brought in a well at 11,000
feet with a reported flow of
900 barrels a day.
. If the oil industry booms,
as it is giving every indica
tion that it will do, the land
of tomorrow will be here,
However, if the project proves
to be a flop, it is obvious that
some other phase of Alaska s
vast riches will have to be
developed before the state
can begin to support any
where near its population po
tential.
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