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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Sept. 25, 1959)
3 Friday. Sept. 25, 1959 MAIL TRIBUNE, Medford', Or. O! . 1 . v LOCAL DISPLAY Pear growers from southern Oregon installed this booth at the Medford armory this week to promote pears. Shown above are, left to right, Mrs. Byron Dibble, Medford, who holds a locally pub lished cookbook containing several recipes for pears; Russ Jamison, public relations man for the pear industry here; and Mrs. Kenneth H. Severson, who with her hus band developed Pearfection, a candy made from pears. -(Knackstedt Photo) Idea of People's Capitalism Could Increase Ma By ELMER C. WALZER UPI Financial Editor ; New York (OPD Stock market activity could . rise to a daily average of around six million shares by 1970 if the idea of a peo ple's capital ism becomes more wide spread, G. Keith Funston ston said to day. The presi- Elmer Wilier j, nt tha New York Stock Exchange traveled all the way to Au starlia to release this nugget of information. He is on a tour of Australia, New Zea- land, and the Philippines to discuss stock market prob lems of mutual interest with leaders of finance. In a speech to the mem bers of the Sydney, Austra lia, Stock Exchange, Funston described the growth in stockholders over the years since the stock exchange has been conducting its educa tional campaign, In 1952 when the exchange launched its program, a sur vey revealed 6.5 million in dividuals owned shares. By 1956 the total had jumped to 8.6 million and by 1959 it had reached 12.5 million, up 45 per cent in three years. The number of shares listed from 1945 grew from 1.6 mil- rket Activity GARAGE and WALK PUSH BROOM Tough bass bristles Full 14 inches wide ' Limited stock REG. $3.50 $fl.39 PW7WGS FUU Rubberized ... WALLHIDE WALL PAINT 545 "Gal. Dries in less than one boor leaves no lap marks Satin-like finish Also available in 1400 Maestro Colon TD07 1(0 ACID ETCHING HEEDED! PITTSBURGK '7-FLOtt HIDE LATEX CONCRETE FLOOR PAINT Easy to Use Dries Fast Lasts & Lasts PinsDun&n paints, I (11 -" UMiU rHONt HIADQUARTtlS rot rAtNT, IRVSNtS, WAltMPfl AND SUNOtlES PITTSBURGH PAINT STORE 1 West 6tk St. Medford Phffnt SP 2-6883 lion to around 5s million. During the 14 years from j 1945 to 1958 daily average trading volume was 1.7 mil lion shares. Volume To Triple "Thus," said Funston, "if for planning purposes we consider the 1945-58 experi ence a rough guide, and if we allow for a continuing favor- would appear possible that during the middle of i the 1960's we might have a.daijy. average volume of around 4V million shares and a total list of perhaps 8V2 million shares. "Should such a level be reached, of course, the vol ume traded on any given day would undoubtedly range much higher and much low-er-than the average daily figure of IV2 million shares. "Similarly, continued growth throughout the 1960s could bring in the 1970s a daily average volume of 5V2 to 6 million shares, and a to tal Stock list of something over 11 billion shares." The rate of trading in Au gust averaged 2.4 million shares daily, against 3.2 mil lion shares in July. Education Key to Future "There is no question in my mind," said Funston, "that the future financing .of our industries is tied to the soundness and success with which our educational efforts develop. But even more im portant, by putting owner ship within the reach of mil lions of people, we can exert an enormous influence for good on the growth of the free world. "For this reason, while we are pleased with the results of our own efforts to date, we by no means feel that share ownership has gone as far as it can and should." ' Funston didn't mention it, but an increase in volume to six million average would re quire, new ticker machinery. Studies are being made now on stock market services with the idea of handling much larger markets in the future. At the present time there are 5Vi billion shares listed. If the total should double by the 1970's many other changes would be required than ticker speedup. Green Light Given To Wafer Projects Washington- (LTD -President Eisenhower is going to let Congress have its way. on the only law which it ever has enacted over his veto. The Budget Bureau has giv en the green light to begin construction of 67 water ' de velopment' projects in 31 states for which Congress pro vided funds by overriding Eisenhower's veto of the $1,- 185,309,093 public- works money bill. - The president, who has ob jected that it ultimately would cost $800 million to complete the projects, could have froz en the $50 million provided by Congress to begin construction. UP mm AY Am. TDLl 9 MJ FINNEY'S S$JlMri flu DOWNTOWN - MEDFORD WOOL STAG COAT Water Repellent! Made for the Northwest! 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