Medford
Tribune
SECTION E MEDFORD, OREGON, THURSDAY, AUGUST 18. 1960 PAGES 1 to 8
Stock Sharpies Take Millions
Of Dollars on Rash Promises
Editor's note: Lured by tret-rich
Prnilses, Americans pour
""""" ul aouars every year Into
stocks they know nothinr about.
ery otten they net stunt.
Washington - IUPD - Oliver
H. Campbell is a retired su
perintendent of schools in
Manhattan, Mont.' In letters
lo the Securities and Ex
change commission and Unit
ed Press International he re
lated that he and his wife, a
retired school teacher:
"Have a little money in the
bank drawing low interest
which last year we tried to
invest to a better advantage.
We needed more funds to sup
plement our small retirement
pension income . . .
Pressure Bombardment
"Somewhere and from
someone the XYZ company
got our names and subjected
us to a high-pressured tele
phone bombardment (about
nine calls total) asking us to
invest in Pot of Gold stock."
The Campbells resisted for
a while.
"We informed them that
we were elderly people who
could not afford to speculate
with our money, at which
they replied that it was just
such folks as ourselves that
they wanted to sell and help
by letting us in on a sure
thing and sound investment.
So we bought 500 shares at
$3.25, $3.30 and $3.75. To us
this was a big sum. Maybe we
were gullible but these re
peated telephone calls were
satisfying. Those boys were
reassuring salesmen."
XYZ is not the real name
of the brokerage house and
Pot of Gold is not the real
name of the company, which
has merged and adopted a new
name. The stock of the merg
ed firm recently was quoted
at 25 cents a share.
Story Typical
The Campbells' story is typ
ical of what has happened to
thousands of people through
out the nation who have snap
ped up stock purchase offers
from people they did not
know and did not investigate.
Fortunately, the XYZ com
pany has been put out of busi
ness by the SEC. So have oth
er "boiler room" outfits which
worked their racket over the
long-distance telephone.
But SEC officials say they
cannot clean up the racket
unless people get wise to it,
refuse to buy and report sus
picious salesmen.
One of the ways to spot a
slock sharpie is the extrava
gant claims he makes. Camp
bell was assured over the
phone that. "Pot of Gold
would double in price by the
year's end, that Pot of Gold
had enough cash on hand to
return to all of its stockhold
ers if necessary, all of the
money they had invested . . ."
Insiders sometimes create a
rising market to make a stock
look attractive.
"lis price, after our pur
chase, rose steadily about 5
cents per week until it was
over $4," Campbell related,
being pushed up by very ques
tionable means to promote
sales and profit - and then
something happened that
made it skid to its actual
worth."
Risks Greater
The slock Campbell bought
was in a Canadian mining
company.
Afler the slock plummeted
in value Campbell wrote to
the company. It replied that
"Pot of Gold by its very na
ture is speculative and while
the prize may be great, the
risks are greater. Certainly
the company is not in the
same category as a mutual
fund."
In revoking the broker-deal-iinonp
nf the XYZ securi
ties house, the SEC found it
had made false claims about
Pot of Gold's financial condi
tion, dividends and future
stock prices. It also falsely
represented it had been in
business a long time and had
a good reputation, a claim
which Campbell said had car
ried weight with him.
Making false claims about
a stock is a violation of fed
eral law. SEC hopes it has
enough evidence to build a
criminal case against the XYZ
firm.
But that won't bring back
Mr. and Mrs. Campbell's money.
Nixon Pleased With Reception Given On Southern Foray
Washinelon-WPD-Vi pp Prpsi.. Trip vii'p nrpsirlpnl sairf tin, viurl npu.e rn.t i n. i 1 , . n . , .....
Washinglon-IUPD-Vice Presi
dent Richard M. Nixon re
turned today from his first
campaign foray into the
South, pledged to a firm civil
rights stand and highly
pleased with his reception.
The Republican presidential
nominee addressed an estimat
ed crowd of 14,000 in Greens
boro, N.C. Police said another
2,000 were outside Memorial
Coliseum where he spoke.
Nixon, who arrived back in
the capital at 1:07 a.m. e.d.t.
said he was so elated at his re
ception that he definitely
would return to the state. It
was learned he planned to
visit Durham and Charlotte
later.
The vice president said he
thought he had a chance to
carry North Carolina. He said
he was surprised not only at
the size of the crowd that
greeted him but its "respect
ful" attitude toward his re
marks on civil rights.
Nixon told both a local tele-
House Is Crowded
By 8,000 Rocks
Rutherford, N.J. - Mr. and
Mrs. Scott Staples have 8,000
rocks - not in the garden but
in their house. Gathering
things comes naturally to
Staples. He is Rutherford's
tax collector and treasurer.
vised news conference anrl Hip
Coliseum audience that he
would stick by his "strong
convictions" on civil rights
wherever he spoke in the
South.
"I still do not believe in
going into the South and
demogoguing about civil
rights and making statements
that will sound good in the
North," he told reporters on
his return to Washington. He
made a similar declaration in
Greensboro.
Nixon scheduled a later
afternoon meeting with farm
advisers to follow up talks he
held in Chicago two Havs rinr
he was nominated. Invited to
the meeting were several sen
ators, headed by Sen. George
D. Aiken, R-Vl., and about a
dozen House members from
farm states.
Draws Applause
The GOP candidate told his
news conference in the "birth-
Lecture Helpful To
Jittery Physicians
Los Angeles - A group of
physicians at a lecture became
jittery when they saw smoke
blowing into the room. They
calmed down, however, when
they learned it was just a
smoldering waste basket. The
subject of the lecture: tranquilizers.
place" of Negro sit-ins that he
supported the demonstrations
because "any American
should have the same right to
use any facilities" in a store
which accepted his patronage
"without discrimination."
But, he added, solution of
legal problems involved in sit
ins must consider local laws.
The final decision, he said,
must be left up to the courts.
Nixon drew applause from
the big Coliseum audience
when he declared, "law alone
is not the answer to the prob
lem of human rights."
"A law is only as good as
the will of the people to obey
it," he said. "The responsibil
ity of those in leadership is to
develop the will of the people
to keep the law and to make)
progress" in civil rights. :
"This is tile way to prog
ress and is the way I'm sure
you'll support in this state,"
Nixon said.
Stranger Says He's ' ' .
'Just a Burglar'
St. Paul, Minn. - Milton
Beilder discovered his gold
watch and cuff links wera
missing after a strange man
strolled through his parlor
toward the front door and
said:
"Oh, it's all right. I'm just
a burglar."
LOW PRICES?
More and more folks are discovering that they
can get real, honest-to-goodness savings at
Grandview. Why don't you shop here this week
end and see for yourself?
7
Gold Medal
FLOUR
25 lbs. Regular 2.45
Sj89
U Save 56c
Snider's or Jorgenscn's
Ice (ream
Vi Gallon Reg. 99c
?j)C SAVE
3) 20c
GREEN STAMPS
Lots and Lots of Free Parking!
n
Swift's
JEWEL
BRAND UIL
Quart Regular 59c
SAVE
24c
Hills Bros.
COFFEE
Pound
Can
57
Reg. 75c
Save 18c
ib. 5113Reg. $1
an Save
2
Can
.49
36c
Four-Sew Nifty Brand
BROOMS OC
Regular $1.29
Save 50c
79'
Cotton Deck Complete
MOP
Regular 89c
- Save 10c
79
Laura Scudder's II
Ilfl II
mayonnaise
Quart Reg. 57c
43c T
-A-Walt's Grandview Mkt. Is Headquarters for Pickling Needs!
Cider Vinegar
49'
Hunt's Gallon
Reg. 69c
Pickling Spice
45
Schillings
Large 4-oz
Mustard Seed
13'
' Schillings
' 238 ox.
Dill Seed
Schillings
Ts oi.
We Have
15' Fresh Dill
BEEF ROASTS
Blade
Cut"
U.S. Graded Good
f. Round
.h i Bone
43
RIB STEAKS . u., 79e
Ground Beef f, 3 Ji29
Grab Ba heavy
Burden9 Sfa BdCOH
CHEESE SLICES RZsr
Old-Fashioned I I I eg r
American-Pimento Country Smoked ejV JJj U
Swiss-Chateau Flavor Tl TJ
Home Cured V.- '-
801. 9Q Center ; AOc
Pkg. tm9 Each CutS Lean fj
Halley's
Red
Kidney
Beans
No. 300 Can
Reg. 2 for 29c
895
Betty
Crocker
Pie
Crust
Mix
In stick form
20-oz. pkg.
Reg. 39c
29
Diamond A
Sour Pitted
Pie
Cherries
303 Cans
41
Hunt's
Apricots
No. 214 Cans
Reg. 35c .
4 $1
Honolulu
Lady
Pineapple
Juice
46-oi. Can '
349
Mission
Salad
Macaroni
14-oi.
2 45
White Star
Tuna
V size tin
39
Van Camp's
Grated
Tuna
Vi size can
6
Purex
Vi Gallon
Reg. 39c
3 $1
Liquid
Trend
32-01.
69
Waldorf.
Toilet
Tissue
4-Roll Packs
3 $1
- Simple
Simon 8"
Frozen
Pies
Apple, cherry,
peach, crust-,,
top lemon
Reg. 49c
3 s1
Booth's
Frozen :
Breaded
Shrimp
Full Ib. pkg.
. Reg. 99c
79
Shipahoy
i Frozen
Fish Sticks
' 8-oz.
;'; Reg. 39e
49
Yets Should Tell YA
Of Address Change
Veterans and their depend
ents receiving compensation
or pension from the veterans
administration should report
immediately any change of
address, according to S. T.
Brannock, contact representa
tive, VA domiciliary, White
City. Prompt reporting will
avoid delay in receipt of their
benefit checks, he said.
Brannock advised that both
the old and new address
should be given in notifying
the VA of the fact that they
have moved. In addition, it is
always well to file a change
of address card with the local
post office.
Among the thousands of let
, i..i iho VA receives each
month are many which cannot
be answered Decause mc
writer fails to identify him
self with address or claim
number, Brannock said. The
writer's full name, address
and "C" number or insurance
number, if there is one, should
always be included.
iiliiiillili
Get $100
FOR 5 LABELS
NEWI
GREEN
GIANT
HAND
"LITTLE BROTHER SIZE"
PFAQ e $100
hnw tor I
Green Giant Brand Very
Young Tender Sweet Peas
Get details at our tor
PSkPOTatoes banASas;
' ' 1 ' ''-S ' -'?- u S No 2'$ V' QQ
- lr: Af&0 A Terrific Buyl $ 07 J L 'fl (0)C
lAJJ 50 Pounds lSx s U V
Watermelon Seedless Grapes Bell 4fj
7&2V21' 2W Peppers II y,
The Home of Country
Style Friendliness and
Hospitality!
(Krandlview
Market
AND FOOD LOCKERS
2330 CRATER LAKE AVE.
STORE HOURS
Weekdays 9 A.M.-9 P.M.
Sundays 10 A.M.-8 P.M.
PRICES EFFECTIVE
THROUGH AUG. 21
Phone SP 2-8188 '
Limit Right Reserved .