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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Dec. 26, 1962)
MEDFORD MAIL TRIBUNE. MEDFORD, OREGON WEDNESDAY. DECEMBER 26. 1912 A 7 The Family Council Cdlior'i nnte: The Family Council itoDinti of Judge. pnscblatrtu, three clergymen, three edlture and a wmnrn'l editor. Kacb artirle If luminary of a family disagreement presented to the Council. The Council deals with problcmi, major and minor, encountered by guidance counielora and surial workers, fcdlted by by Mrs. Alma Denny tCopyrlgbl br enr-J Features Corp.) Freda R. There's a way I can keep my baby. Mri. I. R. She must give It up and live right. Freda R. I'm 16 and preg nant. The boy is 22, a medi cal student. Never mind the details. We went too far last summer. My parents have it all work ed out for me to go to a home, have the baby at an out-of-town institution and offer it for adoption. They say I'm tuo young to get married, and anyway I'd never be able to marry this particular boy. He's engaged to someone else already. But one of my old boy friends wants to marry me. He's 18 and he knows the whole story. He says he'll pre tend it's his baby and no one need be the wiser. He's a sweet fellow. I can be happy with him and the baby. But my parents won't hear of it. Mrs. I. R. As if things aren't bad enough, here this Sir Galahad turns up on the scene. Sure, at 18 he wants to be the savior. But how? He's a school kid who has never earned a dime. From what I see all he can do is The Twist. Financially he's worse than a zero. He'd be an added expense for us, along with Freda and the baby No. I have a cousin in Can ada. I can arrange for Freda to stay there until this is all over. We can say she's away at school. Then in her ab sence we'll try to move to a new neighborhood. When she returns we'll be able to start life anew. Her marriage to this boy would make things much worse. The Council: Although a reader will surely cite an Ex ception, we agree with Mrs. R. that an 18-year-old "legit imatizer" may introduce more problems than he solves. His having no job at the moment is the least consider ation. He can start earning, tomorrow - doing something. Determined to be Freda's sa vior, he'll find ways to make money. But when the neroic daze wears off, then what? At 18 he dashes up dramatically to play hero. At 28, how will he be treating that child? And how often will he use The Big Favor he did as a club to get his way? Freda has erred once. Her mistake is costly in agony and heartbreak. But, thanks to hu mane agencies, it is still rem ediable. The course she sug gests would complicate the lives of many besides herself, through a meaningless shot gun wedding. Right now ev eryone's thinking is a bit hys terical. The Council endorses Mrs. R.'s solution, however. It bids fair to give the baby a square deal. Through the back door, so to speak, Freda has a chance to set her whole life to rights. We hope that she can come under the wing of an organi zation like the Youth Consul tation Service of the Episco pal Diocese of N Y. Besides overseeing the confinement and adoption p:v:cdures, this agency explores the sick rela tionship between the pregnant teenager and her parents. Most of these irls are ne glected, or at least feel ne glected and unloved at home. Shelters may be found through the Salvation Army Social Welfare Dent., and the Family Service Association, which works closely with pri vate and religious family aid facilities. Simple as Freda's plan sounds now, she'd live to re gret it many times. And the child would have to live un der a cloud, always threat ened with a cloudburst. Bet ter to give "it," herself and her family a fighting chance by seeking organized "help for unwed mothers." TO VISIT ENGLAND Bonn - IliPU - West German Foreign Minister Gerhard Schroeder will go to England next month to discuss Brit ain's proposed entry into the European Common Market with British Prime Minister Harold Macmillan, it was an nounced here. The announce ment said Schroeder will meet the prime minister Jan. 7 at Macmillan's country estate, Chequers. L.I.J Your Money's Worth By SYLVIA PORTER Copyright, Hall Syndicate, Inc. PROGRESS REPORT ON STOCK MARKET PROBE A wall of silence has descended over the government's year-long probe of the stock markets no public hearings, no public reports, no public statements, nothing. Does this mean that the Securities & Exchange Commis sion's investigators have not uncovered sufficient abuses or loopholes to justify asking the next Congress for new powers to police the securities business or new laws to protect the investor? Does it mean that the SEC is satisfied with the self regulation job the stock exchanges, the over-the-counter markets and mutual funds are doing? To put the answer in the blunt words of Llwellyn P. Young, the SEC's regional administrator on the "firing line" in New York: "Hell, no!" The SEC is still studying the answers to the exhaustive questionnaires with which it has badgered men and women in the securities business throughout 1962. It is is still taking testimony under oath behind closed doors. It is working on its report to Congress which was originallv due Jan. 3 and which is now scheduled for April 3. There is no doubt that the SEC report will urge tighter regulation of the slock exchange! and the over-the-counter markets. There is no doubt that it will propose new stand ards for the operation of mutual fundi and the selling of mutual fund shares to the public. There it no doubt that it will call on the securities business to slep up its self policing. II is highly probable that it will ask for new laws to regulate the over-the-counter markets. The current investigation was kicked off in early 1961 when a scandal involoving a father and son team specialists on on the American Stock Exchange broke wide open and re vealed the need for drastic reforms on this major exchange. In September 1361 the President signed a law authorizing a broad study of all the securities markets. In November 1061 the study began. It has continued (at a cost of almost $1 million) without interruption since. What might be in the SEC's report? Despite the wall of silence, these points come through: (1) The report will criticize some of the ways mutual funds now operate, will censure the use of part-time and in experienced salesmen, will denounce high-pressure sales tac tics, will warn the industry to police itself or risk having the SEC do the policing. SEC chairman William L. Cary flashed a signal of what is to come in a speech a few weeks ago before the Invest ment Bankers Assn. The mutual fund industry, he said, is one "in which self-regulation has much room for growth . . . Governmental action is called for when there it void, but the SEC it lincerely anxiout lhal any vacuum be filled by industry policing . . ." The message it plain. i2) It probably will recommend a new law to require companies with stocks traded in the over-the-counter markets to make full disclosure of their financial condition at reg ular intervals a law long urged by the New York Stock Exchange. Of about 25.000 companies with shares traded todav, only about 2.200 are listed on any exchange and thus come under the disclosure provisions of the 1034 securities act. Young Indicated what is likely when, in an interview, i, - , j "i h u.'ir irira to adoDt a law requiring full disclosure on over-the-counter securities. The present law doesn't require companies whose stock is traded over-the-counter to issue any financial statement after the initial registration. ,n i. o.l ci.ffor nnlicine of the exchanges too. chiding the New York Stock Exchange. Again Young I words are a forecast. "There arc some areas where the exchange can function effectively and other areas where it cannot will nut function. If the exchange ooesn i move, me acv, win go ahead and iake action." There :.re no suns that the report will request spectacular retornij. But stiffcr regulation and controls both by the government and by the securities industry itself are on tiie way. "v. yrsr tin f 1890 & LOAN ASSOCIATION an old name with young ideas, to open office in Medford Equitable Savings and Loan Association, which for three generations has helped many residents of the Rogue River Valley achieve financial security, soon will bring all its savings and loan services to Medford. An Equitable office will open January 3 at 513 Medford Shopping Center. This will become the 19th Equitable office in the Pacific Northwest. Since 1890, Equitable has chalked up an un rivaled record of safety and progress. Today it is the largest savings and loan association with home office in Oregon, and it continues to grow. At Equitable you have a choice of tuo great ways to save. Open Savings pay 4 per cent current rate and Automatic PayOff Savings pay per cent current rate at maturity if you qualify. Tor safety plus top earnings, isn't Equitable the place where you should be saving? . EET THE MEN WHO MANAGE YOUR MONEY. . . EQUITABLE'S MANAGEMENT COMMITTEE V M is. m ,.i..i o i.n.i.nr- mmwMMmvmm mmm ' -rym , , m "'-jm"'1'1 11 " I F " ' I ""VJ'" 1 W ' hi v, -V i A L I ; J t , ft 'Mi f- A "As $Z ry 1 tj-s4i ;7S-tA rtf j mmfmmtmemmmmitmsmtmmam 1 RALPH H. CAKE Prtiidcnl 40 ytr with Iquitablt HAROLD H. CAKE Extculivt Vic-Pflidtnl 16 ytari with Equilabl A. V. LINDGREN Sacrtlary 34 ytart with EquitabU HUGH E. ROSSON Vka-Fraiidtnt 20 ytari with Equitablt CHRISTOPHER C. KRAIG Vi(Priid.nl 42 yean with Equitable E. A. LEHMAN Treaiurer H years with Equitable MALCOLM B. FRYKMAN VIce-FreiWeat IS years with laultable These seven men have a total of 183 years experience with dividends, consistent with safety. Each of these men is Equitable, an average of over 26 years each. They are re- thoroughly familiar with all phases of financing, and has a sponsible for seeing that your savings are invested for top sound, conservative approach to investments. JIM METZ Savingi Ceunielor lOUIN WATSON Mtdferd Branch Mgr. ElOISE Ettior Teller MAKIIYN j. HART Teller aJtitater Meet Equitable's staff at th Medford office. Open January 3. Three days of fun, priiM MEDFORD OFFICE su medford shopping center and gifts January 3, 4, S. Drop in and say hello. BRANCH MANAGERS WAITER EAK CHARLES BEIL RALPH HANSON JACK TODD ftUL STEELE C. B. BOUN DAN MILIAR IORNE RICHMAH ItntJ Ciat iy ufina Ntwatrl Rattaurf Salim Sfrnffifl Th DallH w : jfel W li JPv w r S & m OERr KERICR WARREN MYERS j, C. MUtVEHIll JOHN ISTIt ""a SpeaiM I,. Tiilna WAltY HARDINO DON RARVIN RrMfl4 Perllinf (Cut n,m) (iment run) EQUITABLE BUILDING Hm Offict: Rfrtland, Oragon FRED KINO, JR. rltintf (Lmaft;-jftfltr) BOB SAROINT 'A mm DOUO SMITH rlUfit) (Mtnlana'-tillwaai') Ycwr fundi inturad to $10,000 by tha Fadaral Savingi and Loan Iniuranc Crporatitn, an agancy af tha fadtnl govtfnmant. V. 17 SAVINGS & LOAN ASSOCIATION 19 OFFICES IN OREGON AND WASHINGTON
