WEDNESDAY, JWWE if, MS
B I
Dennis the Menace
HOMI APPLIANCE 0.s
MEDFOBD MAIL TRIBUNE. MEDFORD, OHESOH
3flli
Your Money's
Worth
y SYLVIA PORTER
Cspyright, Hid Syndict, Inc.
WHO'S 'LUCKIER' IK STOCK MAHKET-WOMEH OR MEN?
Have women been "smarter" in handling their itock
transaction than men in the past few yean and thus, made
more and lost less? Or have they perhaps been "luckier"!
than men, because they didn't get in on the hot-hot new;
issues and over-priced glamor stocks in 1861 and so they've
been stuck with these now glacier cold stocks in 1962?
, There's more than a suspicion that the answer to at least
th second question, if not the first, is "yes."
The evidence lies in the latest statistics comparing own
ership of stocks by women and by men, disclosed yesterday
in the fourth and most comprehensive survey so far of stock
ownership in the U.S. by the New York Stock Exchange,
Here are the statistics and following is a logical interpretation
leading to the above provocative comment.
Statistic! Today, women account for SI per cent of the
total adult shareholder population, as against 49 per cent
for men. In 1999 women shareowners outnumbered men
by B2.5 to 47.5 per cent, and in 1958 by 51.4 to 48.8 per cent.
The division between the sexes Is more even now than at any
time during the previous decade.
Statistic! Today, 15.6 per cent of the total population of
adult males are stockholders compared with 14.9 per cent
women. In 1959 the percentage of women topped that of
men by a slim margin.
Statistic! Nearly 5.5 million housewives are shareholders.
up from 4 million in 1959, and housewives are the largest
single group of shareholders. But as far as the percentage
of the total goes, the housewife group has risen only from
33.1 per cent In 1959 to 33.6 per cent now.
Statistic: Women lead most marketedly in the 65-and-over
age group, where they outnumber men by nearly 500,000
Men, though, account for a higher proportion than women
in the most active ages of 21 to 54.
Statistic! More than twice as many women as men-1.5
million to 713,000-obtain their first share of stock through
inheritance or gifts.
Statistic! Among the shareholders who have entered the
market for the first tune since 1959, about 55 per cent are
women, a clear majority. But of those who became new
dult shareholders between 1956 and 1959, more than 56
per cent were women.
Put all these statistics together, place them against the
background of a share holder population skyrocketing 4.S
million just since 1959 to a record 17 million and a market
which in the past few months has erased most of the gains
of this entire period and where do you come ouu
You come out suspecting women recently have been
either smarter or luckier than men in the market-and here's
why.
Obviously, th individuals (rarlihly gambling in new
ataek issttas and bidding up th glamor stocks to fantastic
Utl last rar war primarily man. Otherwise, th per
centage of woman to man shareholders weuld not have
dreppsd as it did. Th census itself include a foolnol
that "data assmbld suggssts that many mora mn than
woman participated in th unusual stock market activity
In she serins of 1911."
Obviously too, a lot of women who owned shares in 1959
were no longer shareholders at the time of the 1882 census.
This is th only explanation for the fact that, while 55 per
cent of new shareholders since 1959 have been women, the
proportion of men in the total shareowner population be
tween 19SS and 1962 climbed substantially.
Th new issues and glamor stocks have been the securi
ties which have taken the severest licking and n;-n their
owners the most.
Perhaps the resson women didn't play the new Issues in
1961 is that they weren't on brokers' preferred lists and
didn't get the chance. Perhaps the reason is that they didn't
know what was going on in th glamor stocks because wo
men at hem don't get the variety and quantity of tips that
husbands get in their offices. Perhaps the reason is that
an ldrly widow who has inherited her securities is natur
ally mora conservative than a young man In his 20s or 30s-
and she should be.
Whatever th reason or combination of reasons, the fact
Is that th percentage of women to men shareholders has
dwindled for th first time In these past few years-and this
has been a period of th worst stock market craekup in
modern times. Smarter? Luckier? you oeciae.
Finding Upheld
In Portland
Newspaper Strike
Portland fCTB The Na
tional Labor Relations Board
has upheld a trial examiner's
finding that the Stereotypers
Union violated the Taft-Hartley
act on an issue involved
in the 1959 strike against the
Oregon Journal and Orego
nian, it waa reported Tues
day. The NLRB held the viola
tion was in connection with
union demands to require
stereotype foremen to be
union members.
The decision and order Is
subject to appeal to the Cir
cuit Court of Appeals, It will
become effective in 20 days
if not protested.
While upholding Examiner
Martin T. Bennett on this
point, the NLRB disagreed on
three other findings.
Other Itsue
Bennett had ruled the
union's position on three other
issues, when coupled with its
position on the foreman is
sue, added up basically to in
sistence on illegal closed shop
conditions. These issues, on
which the board over-ruled
Bennett were the extent to
which the constitution and
by-laws of the unions were to
be incorporated in the new
contract, the manning of
equipment and the right to
substitute workers.
Regarding foremen, the
NLRB found that by "insist
ing upon and striking for this
clause" in a proposed new
contract the union had en
gaged in "coercion of the pub
lishers in their choice of a
bargaining representative."
The Stereotypers Union
struck on Nov. 10, 1958, and
members of other un'Mis ob
served picket lines. The news
papers continued to publish,
Tax Commission
Tells Breakdown
Of Collections
Salem - (OPB - The Oregon
Tax commission has released
a breakdown of its collections
so far this fiscal year through
May 31. Last week the com
mission announced the total
of $111,948,122, 8.1 per cent
over fiscal 1960-61,
May collections, as the com
mission also indicated last
week, dropped by $3.3 mil
lion in the personal and cor
porate income categories,
compared to May 1, 1961.
Collections of the two ma
jor taxes, however, compared
to 1961 on an 11 month basis,
showed an increase of about
$7 million this year. The big
corporation excise collection
was up about $1 million.
Also up, slightly, were
revenues from the Class A
and B lands tax.
Breakdown Given
The breakdown, with the
1981 comparison in parenthe
sis:
Personal income tax - J90,-
332,649 ($83,016,128).
Corporation excise - $20,
658,201 ($19,615,198).
Corporation income - $146,-
868 ($163,551).
Amusement device - $71,
030 ($75,829),
Electric coop - $147,255
($139,943).
Class A and B forest prod
uct lands - $483,613 ($477,
889). Class C forest product lands
- $15,033 ($14,126).
Class D forest product lands
- $7,837 (none).
Private car company - $19,
281 ($19,198).
Rural telephone exchange -$68,555
($75,035).
Total - $111,848,122 ($103,-598,887).
OIL LEASES CRAHTED
Salem - WW - The State
Land Board has granted
two oil leases to Willard Farn
ham, Portland, covering 81,
344 acres in Coos, Curry and
Douglas counties.
Confidentially We LOVE tO Loan!
Buying or building a home?
If your answer is " 'deed we art,"
sa U. S. for tailored horn
financing, customized to your
family needs and income. If you
now own a homo, you may
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through U. S. National.
TMt UNITID STATU NATION! 1ANK Of P0ITUN6
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Rick's going on vacation and he's turning the store over ta
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pr
Nit
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