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About Herald and news. (Klamath Falls, Or.) 1942-current | View Entire Issue (March 24, 1963)
Small Investor Suspicious 4 Of Wall Street Double Talk NEW VOHK i.NEA" - The iw itrwsiiiau uuuig emergency loie-! I r vision reporting during New York's newspaper strike dutifully read the script: "And on Wall Street today the stock market was characteriied hy a certain softness but howed signs of internal techni cal strength. . . ." At that point he broke into laughter, looked sheepishly at the camera and added, "Whatever that means!" In a sense, his attitude toward Wall Street jargon reflects the suspicions which many nonprofes sional investors feel toward the stock market. The man in the street today appears reluctant to put his money into a market which burned him one year ago Nobody wants to sacrifice dollars on the altar of "internal technical strength." Soundings along Wall Street show that the smaller investor is S still moving cattiously after the crash of May, 1962. One man .who is not shedding tears is stockbroker Robert Bollt, mem ber of both the American and New York exchanges. "The market is probably more stable with the small investor playing a reduced role," said Boll. "He is usually the first to panic. "The trouble is." said Bollt, "the small investor went down with all those 'hot rod' stocks last year. He was captivated, for example, by anything which had to do with electronics. The mar ket was overbought and oversold. "Of course, in the past the small investor had been enchanted with Business Review '. ' tM Wi R Ml WS'n 1 1. , r IT . T ""-ti iTrm,f- , Ml.li nrw ,,iu.;-fa4 - ?rz ( 1 Ml : II . SSI By Floyd L. Wynne HERALD AM) NKWS. Klamath Fills. Ore. .Sunday. March 24. 19M PAf.E C Management Course For Operators Of Small Businesses Set At SOC Jim Olson Motors Announces Two Recent Staff Additions "Administrative Management I Through the conferences, the for Small Business," a special j small businessman will achieve: course designed for owners and managers, will be offered at THE LONG WAIT Investors maintain vigil at Manhat tan brokerage office during last year's stock market up heaval. other types of stock. It used to probably be with Australian land, be railroads; before that it w as 1 1 understand that everyone in oil and air lines. , Sydney is a geologist." "I remember once when the Another Wall Street authority, stock of Seaboard Air Line Rail-; Donald C. Samuel, president of road shot way up because peo-' Energy Fund Inc., believes, like pie mistakenly thought they were i Bollt, that Hie small investor is scared out of the market easily during a crisis such as the one Southern Oregon College begin ning March 28. it has been an nounced by Dr. Loy Prickett, head of the business department. The purpose of the course is to assist the owners and mana gers of small businesses to ana lyze and find logical solutions for their problems. The course consists of nine conferences presenting manage ment ideas for small business. At each conference a practical management idea will be present ed in an informal talk by an ex perienced businessman. A discus sion period will follow each talk in which the participants may ask ouestions. exchange their views and discuss their particular prob lems. Hie knowledge of a systematic approach to solving his business problems; an opportunity to meet and discuss common problems I with other businessmen in the area; an introduction to sources of information readilv available. and an opportunity to improve management skills that may be used as tools to improve ora tions. Course content and schedule is as follows: Functions of manage ment. March 28: personnel man agement, April 4; financial man agement, April It; sales pro motion and understanding custo mers, April 18; record keeping, April 25; forecasting for profits. May 2; risk management (insur ance problems). May 9. and legal problems of small business. May 16. Certificates will be presented at a banquet on May 23. Speakers for the nine confer ences are: George Flannagan, Chandler Drew, H. C. Isaacs, Bob Taylor, E. (i. Tischhauser, Jim Rowan, Duane Baker, Robert Hef' ferman and John Snider. Those w ho are eligible to enroll arc executives, business owners, and business managers. Attend ance will be limited to 30 to in sure opportunity (or all to par ticipate. The class will meet each Thursday night from 7:30 to 9:30 p.m. for. nine weeks in Britt Stu dent Center, room 207 A fee of $25 will be charged to cover the cost of instruction and materials. It will also include two banquet tickets. Those interested may con tact Dr. Loy Prickett at South ern Oregon College. buying into airplanes instead of steam engines. "The next big infatuation will zoo . STUDENTS AND MONEY DOLLARS . -67 per, week r 1 .Mn rri 10.00 LJ SENIOR prrw, HIGH j M SAVING SCHOOL 8.00 jJSS; , 6J7. JUNIOR m&- I r I 6.00 '., HIGH SCHOOL 1 $4.89 4,00 . $3.88 $8.64 last year. Oddly, Samuel thinks lhat the small investor's insecur ity over securities works to the benefit of mutual funds, such as Energy Fund. "After the blast of a year ago," said Samuel, "many investors were taught a lesson. In effect they said to themselves, 'I got sucked into buying a hot issue and lost money; so now I'll get into a mutual fund and let the pros manage my money.' AVERAGE BOYS GIRLS BOYS . GIRLS "WHAT DO KIDS DO WITH THEIR MONEY?" Answer to that question is graphed, above, from data gathered in a Scholastic Magazines nation-wide survey. At first glance surprisingly high, weekly incomes for students fall into perspective when it is realized that many girls and boys have well-paying after-school jobs. Too, over half the stu dents considered noted at least two sources of income. Most surprising finding: average amount saved per week was $4:78 based on all student incomes studied. Mercantile Store Sold WEED The Mercantile Store in Weed has been sold by Inter national Paper Company to Har old O. Chancy, it was announced recently. Chaney is a local rancher and president of the Yreka Lumber Company and the Weed Building Supply Company. He operated apparel stores in the I-os Ange les area for many years before moving to Weed three years ago. and is still active in two Los Angeles stores. Chaney said he plans to continue operating the Weed Mercantile store with its present personnel. International Paper reported it mid the store because it has no relation to Die company's princi pal business. Hilton Names Leith Abbott I Appointment of Leith F. Abbott as special representative working in Sales and Public Relations for Portland's new $12.5 million Hil ton Hotel, was announced today by Ford Montgomery, g e n e r a 1 manager, to become etlective at once. Abbott was retired from South ern Pacific Company last month because of mandatory age regula tions after serving as public re lations manager for the railroad in the Pacific Northwest for many years. Nearlv 400 friends from U.S. Firms 'Hard Sell' At Utrecht NEW YORK (UPH - Next month, a group of United States firms will put on a hard sell show within the boundaries of the European Economic Community, the first time this has been done since the late December collapse of Britain's effort to enter the EEC. The site is Utrecht. The Neth erlands, March 11-19 at the Royal Netherlands Industries Fair. It was one of three which were an nounced as selections in early De cember when the Department of Commerce disclosed a broad out Bill James. 33. recently of Port land and a native of Coos Bay, is one of two additions to the staff of the Jim Olsen Motor Company, the firm announced this week. James was appointed general manager of the company last Thursday and moved into the post about one week after Jim Chil- ders, 31, was named service man ager of the company. The new general manager said he has worked in a managerial ca pacity with a number of automo bile agencies during the past 12 vears. James graduated from Marshfield High School, Coos Bay, in 1W7 and began a seven-year tour of military duty which includ ed service in both Uie U.S. Air Force and the U.S. Army. During James service in the air corps he served with me. terologists and occasionally was piloted into the eye of a typhoon to make weather observations. He later attended Tennessee! Temple College, Chattanooga, Tenn., where he majored in psy chology for two years before mov ing to Soutliern California. He married in that state and came with his wife. Florence. In Port land, where the couple remained More relocating recently in Klamath Falls. Childcrs moved into his position as service manager March 2 af ter serving for more than five and one-half years as shop fore man for Dugan-Mest Chevrolet Company. He succeeds Orville Hamilton, who will remain with Jim Olscn Motors in another ca pacity. Childcrs has served locally in motor service department work for the past 10 years. He is native of Enterprise, Ore., where he graduated from high school in 1950. Childcrs and his wife, Eva, re side with Ht California AvenueLynn. 2; Randy Leigh, 8: James their four children, PamDennis, 9; and Steven Craig. 10. 7,1 BILL JAMES JIM CHILDERS Unemployed Rafe Drops During Firsf Of March SALEM The rate of insured 1 1.3 lower than a year ago for unemployment was lower than 'the same period, Cameron said. last year for the week ending March 7 in all areas of the state, except in tho Astoria and Pendle ton and Milton-Frcewatcr areas, David H. Cameron, Department of Employment commissioner, said here. The statewide rate of insured unemployment at 6.7 was Tofell Tours .Farm Bureau New Building Bank Debits Show Jump In Klamath CROWD VIEWS NEW CARS The Chicago Automobile Show last month drew an estimated 800,000 persons to McCormick Place it this overhead view of the exhibits can testify. The nine-day show displayed tome 450 new cars both domestic and for eign. UPI Telephoto Building Permits Drop During February Period Building permits decreased in Klamath Falls in February, 1963, compared to February. 19(i2, the " 1 1 Tmi,mcit. nt Cli-rtOnn Rnrnait nf line of Its plans to join forces L. s . s . with private enterprise for a sales effort o fthis kind. "The Utrecht effort." explained a bulletin issued by U.S. sources in The Netherlands, "will be the Oregon and Washington honored likely to determine an entire him at a banquet in Portland, Feb. trade policy, but the net outcome 18. at which time he announced ( might be studied to determine he was not retiring from business which w ay the w ind is blow ing in In February. 1963, the total was $31,170. compared to $72,400 in the same month last year. Building permits from 147 iden- u i T i Tf til reporting centers in Oregon first with the exclusive goal of . , Kch creating uiien uus'ihtm icauua and opening channels for repre sentation abroad." Results of the "hard sell" show will be watched with interest by members of the exporting com munityand they extend from coast to coast. One show is not! chruary 13. This was 13.2 higher than in February 19fi2. The state total in February. 19(13, included $10.529.2!I6 for 921 new dwelling units; $7,8."9.587 or non-residonlial construction, and $3,333,336 for additions alterations, and repairs of existing structures For tlic same month last year, the $19,182,143 total of permits was composed of $10,276,330 for 758 new dwelling units, $5,602,987 for nonresidential construction and $3,302,826 or additions, al terations, and repairs to existing structures. Shop Qualifies East Main Brake and Align mcnt, Klamath Falls, has qunli icd for membership in the Bear "500" Club, a unique uroup of automotive service shops through out the country with the same type wheel alignment and balancing equipment used to safety-service all race cars at the Indianapolis 500-Mile Race each year. Equipment like that at East Main Brake and Alignment has been responsible for all safety Bank debits for the Klamath and Lake counties, increased In February, 1963, compared to Feb' ruary, 1962, the Bureau of Busi. ness Research at the University of Oregon has reported. Debits for February, 1963, (0' taled $31,070,577. For January, 1963, the total was $39,437,922, and for February, 1962, the total was $30,223,771. Oregon with 254 banks report ing had a decrease in bank deb Its in February, 1963, of -15.S per cent as compared with January 1963, and an increase of plus 9.0 per cent as compared with Feb ruary, 1962. Total debits for Oregon In Feb ruary, 1963, came to $2,024,411,038. For January, 1963, debits totaled $2,397,825,153 and for February, 1962, the total was $1,857,064,230. John Tofell, a Farm Bureau Insurance representative at Klanv atli Falls, recently attended the grand opening of the new West ern Farm Bureau Life Building in Denver, Colo. More than 430 agents, Farm Bureau officials and wives from eight states were guests o the company for a tour of Western's spectacular home of fice building. Included in his agenda were con ferences with the board of direc- tors, a tour and reception at the new building and also attendance at the company s annual meeting with a banquet at the Denver Hil ton Hotel. Western Farm Bureau Life In surance Company was founded in December, 1952 to serve mem hers of the Farm Bureau in eight states in this area, ft is a com panion firm to 11 other Farm Bu reau insurance companies In the United States. Insurance in force exceeds $131 million. The slates served by Western Farm Bureau Life Insurance in clude Colorado, Arizona, Idaho, Montana, New Mexico, Oklahoma, Oregon and Wyoming. Klamath Falls, at 10.3 was down 1.8. Statewide unemployment insur ance weeks claimed for the week ending March 7 showed 26.911 compared to 30,524 for the same week last month and 31,991 for the same week a year ago. The highest rate of unem ployment was at Baker with 15.3, still lower than last year s 19.9 and the lowest was at Corvallis with 4.1 compared to 6.1 a year earlier. The Baker and Lake view areas are affected by the spring breakup, causing logging closures due to soft ground. In the La Grande area, logging con tractors are able to continue only by working at night while the ground is frozen. Rising activity in construction. logging, lumbering, and farm work was reported during the past week, work continuing as weather permits. Other rates of insured unem ployment in the larger areas, compared to last year showed: Portland at 4.2, down 0.6; Eu gene at 6.7, down 1.3; Medford at 11.6, down 0.2; North Bend Coos Bay at 6.4, down 2.4; Pen dleton and Milton-Freewaler at 10.3, up 0.1 and Salem at 8.2, down 2.0. On March 8 the Oregon Un employment Insurance Trust Fund stood at $53.5 million, com pared to $40.9 million a year earlier. service at the famous Iiidianapo- lis track since 1930, using this opportunity to stay abreast of many automotive changes which are first tried at the Speedway. and public life. PRINTING m.m m m m m m Martin Swanson Tops In Sales European trade The Commerce Department has operated 127 trade fairs sponsored hy the government since 1954. But a Congressional appropria tion last vear set aside $1.6 mil- linn to he used for sales efforts in proven overseas markets. Ex pansion nf exports is a goal of the , PLANT INVESTMENT WASHINGTON (UPD - Th; independent telephone business re quires a plant investment of about $49,800 per worker against an av erage of $8,500 for industry in general, according to the U.S. In dependent Telephone Association. NEW DRUGS OFF NEW YORK (UPI) - The thai idomide scare last year cut the number of new drugs Introduced hy the pharmaceutical companies. Only 22 were introduced com pared with 40 in 1961, according to Chain Store Age. ATTENTION YOU'LL BE. DOUM . . . AHEAD From lovely invitations to handbills; from business cards to posters ... we can handle any printing job and beautifully! Martin Swanson of 1431 Siski- t-. -t Vl-,m(h 1,'allc h.t . """" , "',., present administration qualified as one of 110 ginupl'' . ,. . , leaders of New York Life Insur ance Company on the basis of 1962 sales, according to Curtis S. murcn gene,, "lo"''f '". '" ;lnvolvement of American business gone. The award goes I .those, aucnu among the companys field ,,, , force o( more than 6.0(10 full-timel ., r,, ,nH h underwriters who produce an out-"': , . . ' . -.: u standing volume of group lile and MEM k aI II,. U,,c nrtc. nr I rt I I-View ill i m- uuaniTTn.1 vwn-i I C I cerns which are to be represented q yySTO bp6CI3l f '.... I. k i-,nirnrl ac an 1 ' HI UUClill I'C itfonu "O dm illustration of how broad is the Isuide health insurance. electrical equipment. Their home offices span the nation Irom Min neapolis to Tulsa, from Los An geles to New York. Kl'll.DINC. ROOM NEW YORK 'UPI ' - At least 3 million acres of land for home construction will be needed be tween now and 1970. according to Allied Chemical's Barrett Divi sion. About $C30 billion will be spent for residential construction on this land before the end of the decade. Service for . . . BUSINESS FIRMS INSTITUTIONS GOV'T AGENCIES Ur-ni.Tjr.1,I.B.Jtll.i,- I Printing, Inc. 12th I Klamath TU 4-5373 GUARANTEED ! WARDS OFFERS J --. ! EVERYTHING IT j TRUCK ! SELLS AT FULL r-nlll- ! COMMERCIAL j SERVICE S.c?.yNT.s. i AND REPAIRS Words giont purchoi"g power mflan lower prices ot com- We're Specialists en mrciol discounts for oil quJi 4 - wheel drive Willyi t,tri purchor. Choosa trom Meee' vehicle, but we thou-on of qualify ,tmi . . . ere equipped te er- backed by notion-wide dthvery ice ell make. Bni wrvice. Call Wordt I'"'! joe fisher snysr Lineal, Mertury, Cemet CONTRACT AND Willyi 'Jeep' vehicle! COMMERCIAL SALES tJT U. 7lh Pk. 4-1114 DEPT. ImrfMMT PkMi rTf77af!ar'T77f57H'4 Ck.H ,, 1-4M1 fi 'I Hi tliJi 'llli A 'i 11 "iV J FERTILIZERS CORPORATION I x K i fi AQUA PLUS Etetailers! Here ore official circulation coverage figures for leading national magazines and for the Herald ond Newt within Klamath County. (This does not include any subscribers in Lake, Mo doe and Siskiyou counties.) The percent of coverage is based on 13,000 households in Klamath County. SULFUR This is the trademark of your dependable local Bree dealer, the man with the service that grows, and products and know-how you can trust for results. Brca dealers deliver the right amount of tht right kind of fertilixer ot the right time . . . they provide the most modern equipment to apply it. Western Growers Have Found The Reason Why They hove rested on their own lond and they have corrected the deficiencies in their soil with Brea Aqua-Plus-Sulfur which combines nitrogen and sul fur in solution. Let Us Give You A Helping Hand! mim S0ILBU1LDERS "First In Quality . . . And Service" Paid Prent Publication Subscribers Coveroga LIFE 128' 85 LOOK 1968 13.1 SAT. tVE. POST 2650 17.7 READER'S DIGEST 3984 26 6 AMERICAN HOME 1226 8.2 BETTER HOMES & G. 1209 8.1 FAMILY CIRCLE 1591 10.6 GOOD HOUSEKEEPING 1327 8.8 LADICS' HOME JOURNAL 2069 13.8 McCALL'S 1612 10.7 TRUE STORY 1151 7.7 WOMAN'S DAY 1083 7.2 HERALD & NEWS 11,986 79.9 Klamath Falls TU 4-7746 Malin 723-2947 Tulelake 667-22S1 When you are discussing national advertising with your suppliers refer to these figures and strongly urge that they place their national ad vertising in the Herold ond News where It will give you real sales support. Tht lailc Advtrtliinf Mtdium of the Klamath kiin re
