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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (June 7, 1962)
fi A THURSDAY, JUNE 7. 1962 MEDFORD MAIL TRIBUNE. MEDFOHD. OREGON .. LV ROOM - KITCHEN t 1 . J 30 -II M I LIVIWJ KOOII """ I I ' I L In JScSfe'Et"!. PLAN NO 4903 ! !? ,V(yfe',(, 1698 SQUARE FEET 0 jjrjf 2m This Week's Ranch and Modern Home By HIAWATHA ESTES For the large family who must watch their building budget, this well designed home offers abundant living. Here is a plan where both adults and teenagers can find privacy or activity without interfering with one another. For the greater privacy, the master bedroom is completely separated from the three re maining bedrooms. A gener ous size dressing room plus bath completes this private suite. Think of the conven ience and luxury of being able to bathe, dress and make-up without having to trapse from one room to another. An Impression of gracious living is provided by the dou ble front doors opening to the large entry. From the entry, there is excellent circulation to all areas of the house. Formal Living Room The formal living room is so located that unexpected guests can be brought directly to this room and there would be no reason for embarrass ment, regardless of the con dition of the remainder of the house. The informal family room- kitchen area stretches across the back of the house for a whopping twenty - five feel! This is a large enough area for comfortable lounging, viewing of television, games and in formal parties. An eating bar has been incorporated into the design of the cabinets separating the family room and kitchen areas. The mas sive amount of glass in the sliding glass doors leading from the family room to the patio are a constant invitation to out-of-door living. In this well planned kit chen, the built-in appliances and the sink have been care fully arranged in such a man ner as to save many steps each day. Storagi Span It Is only a short walk from the rear door of the garage to the service. The garage door has been offset to pro vide storage space along one side of the garage. The forced air furnace is located here. All of the rooms in this plan are of unusual size for a home of less than 1700 squares feet. For instance, three of the four bedrooms are of sufficient size to accommo date twin beds. Aluminum windows have been arranged to form ap proximate equal spacings of windows and wall panels across the front of the home. These spaces are framed with vertical wood members. r-nmnlete worklnK drawings for this plan enn he purchased at a rosl nt $7. no for Ihe llrsl set. una SS tor each additional set when ordered nt the name time. This plan will be available at these ,.,...,.. .mtll rw. .1. Please allow two to three weekg for delivery. If the above home does not en tirt.lv meet with vour approval, a new home plan hook. Ranch and Modern Homes, can be purchased for 92 Send all orders for either pinna or books to: Hiawatha Estes, post office box 404-T, Northridge, Calif. London - IUPD - The Rev. Gordon Girling got back the umbrella he left at a parish ioner's house nine months ago from a waman parishioner who bought it at a rummage sale. "I assume," the minister said, "that the people with whom I left it didn't know to whom ii really belonged." Your Money's Worth By SYLVIA PORTER Copyright, Hall Syndicate, Irw CHRYSTAL MEATS The House of Personal Service 4th and Fir Phone 772-7315 SPECIAL THIS WEEK Baby Beef Liver b 29c Smoked Pork Chops 10 S1.00 Top Sirloin (Boneless) S1 05 Chuck Roast won Trimmed ib. 49c n J Pi. .1. in. HOUIIQ Oltt.IV ib. I3C r73Pv 'v MH All 4 Brunschweiger (in piece) .b.49ctS OB BABY BEEF SPECIAL CUT WRAPPED QUICK FROZEN TERMS ON APPROVED CREDIT 175 TO 190 LB. AVG. Vz BEEF 43c b. Compare Prices and Quality Anywhere in the Rogue Valley Then Check Your Savinqs 25 & BEEF $!2 98 GREEDY SPECULATORS TRIGGERED STOCK BREAK "Cupidity, that's what triggered it," said the broker who handles our investment account in a disgusted voice when this week, I finally dared to phone and interrupt him to ask his views about Black Monday's significance. "There were a lot more under-margined accounts in Wall Street than any of us thought. I have no enthusiasm for people who over-reach themselves in an effort to make a pile of of money fast and these were the ones who were sold out of their stocks May 28 and early May 29lh." "The extent to which banks were carrying both big and little speculators on thin margins was far greater than we realized," said a nationally-known economist friend when I interrupted him also to ask his view. "There were two outstanding culprits in that Monday's debacle: the banks which pretended they didn't know the loans they were making were for the purpose of speculating in stocks and the greedy men and women operating on shoestrings in unseasoned new issues and in stocks which were madly overpriced." This is a background story about the stock market crash of May 28 early 29 which should be placed on the) record now. Those whose stock nesteggs were wiped out in last week's panic markets don't need any lesions at this point: they've learned the hard way thai in Wall Street, as the truism goes. "There's room for bulls and bears but not for pigs and hogs." But for all who may be tempted in the future, this tale shouts a vital lesson. Under Federal law and current Federal Reserve Board rules, a buyer of stocks listed on an exchange must put up at least 70 per cent of the purchase price in cash. He can borrow the 30 per cent balance from a broker or a bank. Under the rules of most major exchanges, buyers of stocks on margin must not allow their equity in their holdings to drop below 25 per cent of the market value at any time and many brokers insist on higher requirements for margin accounts. Say Mr. Jones bought $1,000 of stock last year on margin, paid $700 in cash, borrowed $300. Say that in the market slump since March, the value of his stock dropped from $1,000 to $400, cutting his equity to only $11 or the minimum of 25 per cent allowed. Say that on the Dark Friday before Black Monday when the Dow Jones average of industrial stocks already was down 123 points from the December peak, the value of his stock fell even more. Mr. Jones would have received a call for more cash or collateral before Monday morning to back up his loan and if he couldn't meet the demand, he would have been sold out. Over the week end before Black Monday, brokerage houses from coast to coast were open as clerks checked customers' accounts, sent out margin calls. I received a forewarning of what would happen the previous Sunday when a partner In a major brokerage firm phoned me from his office to tell me his firm was sending out the biggest total of margin calls in its history and to ask if I knew of any action planned "to prevent what," he said, "could be panic Monday." He certainly was correct in that forecast. But even more important were the calls that went out from banks which had made so-called "non-purpose loans" against collateral. All the regulations demand ii that the bank ask the borrower to sign an affidavit that ihe money he's borrowing is not to be used to buy stock. The banks don't enforce those affidavits; they're jokes. Let's say Mr. Jones had a big chunk of those hot-hot new issues of 1961 and he wanted to gobble up some more. Let's say he went to his bank and borrowed 50 per cent of the value of his stocks which lie put up as collateral for his loan. As his hot-hot issues of 1961 have gone ice-cold In 1962, his collateral's value has shrunk spectacularly. For months, worried bankers have been calling on these over-extended speculators for additional collateral or have requested that they reduce their loans. In the fortnight before Monday, May 28, the calls soared and on Black Monday, much of the distress selling was by banks liquidating stocks to protect their loans. Wall Street doesn't coin its cliches lightly. Remember this one when the next get-rich-quick opportunity beckons: There's room for bulls and bears but not for pigs and hogs. SIGN ECONOMIC PACT Cairo-IWD-The United Arab Republic, Syria, Jordan, Ku wait and Morocco signed an economic unity agreement Wednesday designed eventual ly to establish an Arab com mon market. The agreement provides for the setting up of a joint economic council which will work to lift tariff barriers, allow freedom of work movement and capital investment, and free use of harbor facilities. Dennis the Menace ITSWRTEOOUTWIINWE LITTLE LIE: I LET HIM THINK I MILKED THE0M& Aim ht WNis flit 10 Give WW A JOB Rmlfi THE WTLE5 UNDER THE FAUCETS i M. i 4 i "3 P ' S V -V 4 .1 i. ataaeaX VISITOR ARRIVES - President Kennedy points out some of the sights in Washing ton as he rides from National Airport with Archbishop Makarios, president of Cyprus. Ail of the Commonwealth ambassadors, the ambassadors of Greece and Turkey and high U.S. officials were on hand for. the arch bishop's arrival. (UPI) Democrats Seek To Curb Setback For Foreign Aid Washington - IUPD - Senate Democratic leaders hoped to day to muster enough votes to prevent a second setback to the administration's $4.6 bil lion foreign aid bill. Democratic leader Mike Mansfield (D-Mont.) said he could only do his "best" to defeat an amendment pro posed by Sen. Bourke B. Hickenlooper (R-Iowa) that would trim the authorization bill by $400 million. The Senate dealt President Kennedy a surprise blow Wednesday by voting, 57-24, to cut from the bill all assist ance to Communist-dominated countries. Most Unfortunate' Secretary of State Dean Rusk called the development most unfortunate. He said the amendment sponsored by Sen. Frank L. Lausche (D- Ohio) would give the impres sion abroad "that we are per manently writing off to Soviet Princess Grace Drops Movie Plans Monte Carlo (UPD Monaco's Princess Grace announced to day she has abandoned plans for an early return to Holly wood and indicated she may never make another movie. In an interview published by the newspaper Nice Matin, the former Grace Kelly said she had dropped plans to ap pear in the film "Mamie," di rected by Alfred Hitchcock, because of schedule diffi culties. She said the length of time it takes to make a film would Interfere with her part in the official life of Monaco "which is much more important." She said she had planned domination the millions of people who still yearn for freedom." The Senate action would affect Yugoslavia and Poland. Mansfield read a letter from Presidential Assistant Mc George Bundy saying the cut off would play into the hands of the Kremlin. He indicated a fear that the action would push the Tito government closer to the Rus- to make "Mamie" while va cationing in the United States with her husband, Prince Rai nier, and their children later this year. Then Hitchcock found he could not begin the film until next year. Greatest 24-hour rainfall on record was 38.2 inches that inundated Thrall, Tex., Sept. 9-10, 1921. Cuba became an independ ent nation May 20, 1902. IT CAN EMI TO THE BEST OF US Everyone, at some time pr other, runs a little "short" between paydays. Rather than ask friends or rela tives, tell us . . . confi dentially. One-visit money service. IDEAL IOAN S3S E. JACKSON BLVD. Mtdforrf Shopping Gmtir Phone: 773-7456 Dick Webb, Her. 0pm Fritfiy Evinings 'Til 1 Shop Tonite 6:30 to 9 at - r-. -t I A77 There are several ways that a man can pay the price of a new Cadillac car and find himself in possession of an automobile of far less stature. Because there are many motorists currently con nidering the purchase of their next car, we would like to enumerate these ways of going astray. 1. Assume that the purchase price of a new Cadillac car is higher than it actually is. (There are eleven models of other makes that this year cost more than the lowest-priced Cadillac model.) 2. Fail to appreciate that the basic price of a new Cadillac includes important things that are extra on many other cars. (Including automatic trans mission, power steering and power braking.) HiPlT VOIR LOCAL AUTUO 3. Neglect to find out from a Cadillac dealer what your present car is worth in trade. (He is especially anxious this spring to welcome new owners.) And if you take one of these detours, think of all the unique pleasures you could be missing. There is Cadillac's styling so majestic that it attracts attention wherever it goes. There is Cadillac's comfort so wonderful that every journey becomes a brief vacation. And there is Cadillac's performance so gTeat that it is without rival on the world's highways. So we suggest that you play it safe and get all the facta from your dealer soon. You might be closer to a Cadillac than you think. H1ZED CADILLAC DEALER SUIT DROPPED-Gcortc Lincoln Rockwell, commander of thr American Na?i Party. ha dropped plans tn file a federal : Milt acaimt .several person in .New Orleans who he cliimed ; eau-ved his false arrest. He was arrested last Mav with nin of his "storm troopers ' for picketing in New Oile?n.. (LTD1 SKINNER BUICK-CADILLAC 143 SOUTH RIVERSIDE SSI THI GEsO AL MOTORS XMIBIT AT TMB 1962 SEATTLI WOtLO S PAIR APRIL 81 - OCT. 81 3
