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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (April 6, 1960)
V Wtdntsday, April i, If 60 MAIL TRIBUNE, Mtdford, Or. yf i 4l ay'M' A: -vrve. I a, vi t ! ru r a . .ssssssjhs . Ah. BRIDGE CLIMBER ARRESTED - Dan E. Smiley, USMC, points to a tower of the Golden Gate bridge at San Francisco as ar resting officer Blair Barclay of the Califor nia highway patrol talks to him. Smiley was arrested after he crossed the bridge the hard 3 way - by cable. On a dare, Smiley climbed the cable supporting the span and clamber ed over the bridge. Officers estimated he traveled some 4,000 feet this way and at the peak of his climb was 746 feet above the water and 526 feet above the bridge deck. (UPI Telephoto) Oil Exploration To Be Reconsidered Portland (UPI) - A request by the Humble Oil Company for oil and gas exploration rights on the Summer Lake water fowl management area in Lake county will be reconsid ered by the State Game Com mission at a public hearing in Portland, April 22. Some 160 million cars of 2.000 different makes have been offered to Americans since the first powered road vehicle was designed in France in 1769. To familiarize motorists with the luxury and convenience of today's new models, auto manufacturers invested an estimated $97.2 million for new passenger car advertising in newspapers last year. State Buys Property For Future Mall Use Salem IlTD - The state has purchased some more prop erty for future use in the de velopment of the Capitol Mall. The latest acquisition is the A. R. Sieemund DroDertv at Union and CaDitol sts. Price was $50,125. DEMPSTER FURNITURE CO. Offers FOUR WINDS... THE CARPET WITH THE "Hand4oomed" Look FOUR WINDS CARPET is a blend of the finest wool and nylon for twice the wear of wool alone, in 8 totally new color combinations: Bronze Poppy Sea Spray, Oxford Brown, Twilight Blue, Spring Marigold, Slate Brown, Frost Beige and Sandalwood . . . Sold exclusively by DEMPSTER FURNITURE CO. in the Medford Area. SEE THIS BEAUTIFUL CARPET TODAY! ... or call and our Carpet Man Will Gladly Bring Samples 1o Your Home so you may tee them In your own surroundings. Most Convenient Terms Up to 36 Months to Pay. Finest Installation Guaranteed. "YOUR FAMILY FURNITURE STORE" Buying, Selling Stocks for Public Becoming Big Business :. Urn r 3a mum BtRerow I By LEROY POPE New York (UPD - Buying and selling stocks for the pub' lie is getting to be a busi ness for costly machines-and human speialists. The physical plant operat ed today by a big national house like Walston & Co., for example, is a multi-million dollar electronic, fairyland backed up by 70 expensive air-conditioned offices stretch ing from coast to coast. 'Big brokerage companies like ours couldn't exist with out electronic machines." con cedes Emmet Eation, Walston assistant vice-president. Back in the 1870s, that prominent Wall Streeter, Clarence Day of "Life With Father," got along with one ticker and one telephone -which he seldom used be cause he didn't like it. "Even the great bull market of 1929, brokerage houses were small by today's standards," says Eation. "So in those five million share days they fell three to four weeks behind in their bookkeeping - in spite of working armies of clerks nround the clock." Flood of Orders He might have a.ided that often in those days brokers were so swamped with or ders they , couldn't execute them-and the customers suf fered losses. Today, thanks to electron ics and large efficient orga nizations like Walston's -one of about 25 coast-to-coast brokerage houses - every or der from the most remote point is transmitted virtual ly instanly and usually ex ecuted within a few minutes, Eaton explained. Each day's bookkeeping !s completed the same day and checks or statements mailed by automatic machines op erated by punch cards or mag netic tape. With assets of around $98 million, Walston currently trades about $2 billion worth of securities a year. The com pany does an underwriting business and trades in bonds and to some extent in com modities for customers. But its bread and butter is com missions and interest on cus tomer's margin accounts. "We have 300,000 customer accounts - 70,000 of them ac tive," Eaton explained. "To service these active accounts, our I.B.M. punch card clerks pull in an average of 25,uuu cards a day from the files." Huae Clerical Siaff In spite of all the electron ic and punch card equipment, it takes 1,200 clerical work ers to back up the 550 "cus tomers men" or salesmen in the Walston organization. It takes almost 100 order clerks to take orders off the com pany's 35,000-mile network of leased wires and send them to the stock exchange floors and the company accounting departments. Walston's teletype circuits have automatic switching and overflow equipment to take on additional lines all the way across the country instantly if the volume of orders starts to swamp the basic 75-word-a-minute network. All the bigger Walston of fices also have expensive au tomatic electronic quotation boards in their board rooms. At first glance, Walston's main boardroom at 74 Wall Street looks as big as the auditorium of the Metropol itan Opera House. It isn't really that big, but it's the biggest in New York and it marks one of the main reas ons Vern Walston, the pres ident, gives for his firm's growth. for Walston has been in Wall Street only a dozen years, moving its headquar ters from San Francisco, where it was founded as a small regional brokerage com pany in depression 1932. 'Supermarket' Approach Walston believes in the "supermarket" approach to selling stocks - big comfort able boardrooms at street level open to the public, which is always welcome, staffed by a large able force, backed up by a strong re search staff and lots of rapid "service." All Walston offices are in expensive locations and all are proportionately spacious and attractive, although not ornate. Those in San Francisco, Chicago. Denver and Tucson are almost as impressive in their way as the Wall Street h e a dquarters. Incidentally, Walston has seven offices in New York City and two in Europe. The mailing operations of a big modern brokerage house ! can be astounding to the un-1 informed. Besides checks, dividends, stock certificates I and statements, the company ; mails its market letters and much literature about specif-1 ic securities and answers thousands of customer re quests for information every day. The cost of the mailing can be deduced from the fact j that not long ago one medium-' sized Wall Street house j discovered a mail room em ployee had pilfered half a j million dollars in postage ; stamps in half a dozen years without the shortages being noticed. It's a big, expensive busi ness. But it gives its custom ers the fastest and most complete service of any busi ness ever devised. The Family Council Editor'! Note: The Famllv Council eon.lit. nf Jortr. . n.VHhi.t-i. thrre clergymen, a newspaper editor, a women's editor and two writers Each article Is a summary of an actual . use history. The Council reports on prohlema that have been dealt wl o by responsible asenclea and counselors. Violent S.-I want to take Clyde to a psychiatric clinic. Kenneth S.-My son's not goofyl e Violet S.-My husband and I have been married ten years and have four children. Our big problem is our oldest boy, Clyde, 9. Clyde has always been hard to handle, but in the past year or so things have gotten much worse. I just can't get him to do a tiling. His teachers have been complaining that he up sets the whole class with his carrying-on. They say he is a bright boy but they can't do a thing with him. I have been going to school regularly to take this up with his teacher. She has advised that I take him to a psychi atric clinic connected with the school system. When my hus band heard about this, he hit the roof. He says he won't al low it. Kenneth S.-I should say 1 won't have them taking my boy off to some head-shrinker to tell him he's nuts before the kid has even had a chance to grow up. There's nothing wrong with Clyde that can t be taken care of by a few good wallopings. But any time I've laid a finger on him Vi has screamed, Don't touch my child!" Now she never tells me what's go ing on with the kid. Anyway, i don't minic uiyae is a bad kid-a little wild, may be. But he's a real boy and Vi wants to make a softy out of him. On top of that she and this teacher decide he's goofy and needs a doctor. Then he'll have that on his record for the rest of his life. The Council: Kenneth seems to have a legitimate beel, ai- ihmieh we do not think he has taken the attitude that will most help his child. I Women Of Pr Targ oposed et Law 1 We do not blame him for his concern about giving his I child a psychiatric "record, but we think he should try to recognize that when both a teacher and mother throw up their hands helplessly over the behavior of a 9-year-old, things have gotten serious and a couple of spankings would be no solution. We get the impression that Kenneth has been pushed out of the picture in relation to bringing up his son and it has taken this crisis to bring him back where he belongs as a father. He certainly has every right to assert himself. Possibly it was the "wal lopings" that first instigated Violet to take matters Into her own hands. Possibly there was some more hidden motive. In any case, we don't think she dealt with the problem very effectively. Instead of pro testing against such treatment of "my child" she should have waited until everyone's tem per had cooled and then dis cussed with Kenneth more constructive way of dealing with "our son's" misbehavior. When things had gotten to the point where there werfe "regular" consultations with a teacher, it was certainly time for Kenneth to become active ly Involved. He should have been called in on these consul tations. It was not fair to sud denly spring on him an out sider s decision regarding nis child' If Kenneth had been brought in on some of the prelim inary discussion, he might have gotten a better un derstanding of the nature of psychiatric treatment and would not fear that his child would get a record as a "nut." It is quite possible that the elimination of the father from this boy's daily life has a great bearing on his problems. It is time to bring back tne lamer, (Copyright 1960, General Features Corp.) MARKET NON-FOOD MID-WEEK SHOE - SPORTING GOODS DEPARTMENT Men's 0 Women's Children's Many Colors THRIFT DEPARTMENT BOWLING BMjS Salem-TOPD-A Massachusetts state senator would like to see a law passed prohibiting or restricting women from wear ing slacks, shorts or trousers in public. But he doesn't want to he alone in the fight. The senator has written the Justice Departments in the 50 states asking their advice. Attorney General Robert Y. Thornton got his copy Tues day. It seems that so far in Massachusetts at least it has been up to the Judge and po lice to decide how much of a lady should be in view and where this transcended in decent exposure. Thornton advised that Ore gon has no state law on the subject except indecent expo sure. He said some Oregon cities might have ordinances which cover the subject. Eight Polk Districts Vote Consolidation Dallas, Ore. - (UPD - Eight of nine school districts In Polk county voted Monday to con solidate into a proposed east Polk county administrative school district. The dissenting district was Riverside, The vote there was 19-0. Patch Saddles by IP i '5 best name in children's sJwes i 'America's most popular feminine shoe Class mate's Patch Saddle sweeping the nation for teens and subteens . . . with Classmate's famous made-in-Milwaukee quality and fit Sizes 8 Vi to 12, $6.95 Siiei U'i to 4, $7.95 iiies 4'j to . .JT. i r- $8. JOHNSTON and STEWART JUNIOR BOOT SHOP Where the fit ll Guaranteed 211 I. MAIN STREIT MtDFORD, ORCGON 4.95 Value! Well-made of Plastic and Can vas with Handy Utility Pocket sty (PW MEZZANINE Regular $1 Women's Blouses O Prints O Plains O Stripes S-'"' W . I Sixes stock up 01 d And ryi Save! PLUS SAVINGS WITH SILVER DOLLAR STAMPS! n 'Vr.r- .t "..; ' t r t -'. f'X-r
