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THURSDAY, JUNE 7. 1962
MEDFORD MAIL TRIBUNE. MEDFOHD. OREGON
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LV ROOM - KITCHEN t 1 . J
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JScSfe'Et"!. PLAN NO 4903 ! !?
,V(yfe',(, 1698 SQUARE FEET 0 jjrjf
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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
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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
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