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Show All J Deer. C.i Deer JeraM Justesen has run right smack into a situation which, for him, is the height of aggravation. Having told any number of tall tales, and had people believe them ! deal through an investment firm because he has such an honest j tnat nolds membership on an ex-iJuk ex-iJuk on his face, Jerry is now feel ci,dnge- It would not be approp-i.ig approp-i.ig the frustration which comes to i ria,e Ior me to give the name of those who can't make people believe be-lieve the truth when they tell it. The trouble is that his true story is more improbable than any big l.e he ever cooked up. It is about a deer. Jerry was driving along just south of Oak City the other night, when a deer ran across the road right In, front of him. Then it ' bounded back onto the road a-gain, a-gain, and then, believe it or not, and most people don't, it lay down and died right in front of him. lie isn't sure what it died of. Maybe heart failure. But he is sure he didn't run into it, and he knows he didn't shoot it because be-cause he didn't have agun. It just goes to prove that truth is stranger than 'fiction, and there fore you can't always expect people peo-ple to believe the former. The Stock Market This little discussion of investment invest-ment matters is not for everybody. If you happen to have ten million mill-ion dollars, all invested in tax-free two percent bonds, it's not for you. With your $200,000 a year legally exempt from Federal income in-come taxes, the chief worry of your life, probably, is how to escape es-cape from boredom. No advice of mine could help you. If, on the other hand, you are working for $75 a week, and have signed installment payment contracts con-tracts calling for total payments of $85 a week, it's not for you, either. You are having a hard time making ends 'meet, and the possibility poss-ibility of your accumulating a surplus sur-plus for investment is rather slim. But if you happen to be a member mem-ber of America's great middle class, with an adequate income-assuming income-assuming anyone ever deems his income adequate and have just made the final payment on the family airplane, got the kids all j outfitted with new shoes for winter, win-ter, paid your state and county taxes, have a chicken in the pot and two cars in the garage, and in spite of all still have a few dollars left over that you can afford af-ford to risk in the hope of gain, buddy, maybe this item is just what you've been looking for. I am a firm believer in the prin ciple of public ownership of Amer ican industry. It is a healthy thing for the masses to own a few shares shar-es of AOT on the stock exchange, couuect a few dollars of dividends four times a year, send in their proxies to the stockholders meetings meet-ings and participate in proportion to their investment, in the management mana-gement of big business. (AOT is the tjeker symbol for Any Old Thing.) There must be a great many people who collect little or no return re-turn on their savings, or who place them In ventures of risky nature, simply because they do not" know that the stock exchanges afford them a means of buying shares in the nation's greatest enterprizes. Some do not know how to go a-bout a-bout investing in listed stocks, others mistakenly assume that the business is open only to millionaires. million-aires. An investment advisor with a New York Stock Exchange member mem-ber firm told me his company had provisions for handling investments invest-ments as small as $15.00. (That was about my size, so we did business.) It is easy, for Instance, for anyone with say $135 to gamble,, gam-ble,, to buy five shares of Paramount Para-mount Pix, currently selling at about $27, and paying, this year, $2.00 per share annual dividend, Rom where Ever since our electricity cat off Uit year oa account of me forgetting to mil in the payment, pay-ment, the Missus has been sort f leery about firing me letters to maiL ' At first she'd ask if I mailed them, then double-check my coat pocket at night. She stopped that, and I figured she was convinced con-vinced I'd learned myjesson. Then yesterday, I got a postcard post-card at the off.ee in a familiar handwriting. I turned it over and by roily it was from the Missus herself! It read: "Thanks, Joe, for mailing my letters." Well! Cpyr.gil, the news that's fit to print from the Delta Airport By Dick Morrison The broker's fee for such purchases purc-hases is nominal. I'm not recommending recom-mending it, of course. As to the procedure for buying iisited stocks, if is necessary to any cu these, but they are well known, and finding one would pre sent no problem. I think it best to deal with a member of the New York Stock Exchange. This exchange ex-change is not only the nation's biggest, but its rules assure fair treatment to all traders, large and small. Fair treatment, of course, gives no assurance that you'll make a speculative profit. It only means that all transactions are handled in an "open and above board manner", as it were. The mechanism of the exchange makes such transaction a matter of public pub-lic record; and the speed with which it operates is such that, if you place an order through one of the member firms in, say, Los Angeles, the private wire system will show your transaction on the ticker usually within a few minutes. min-utes. The stock exchange itself does not either buy or sell stocks. It is only a market place, where, selling orders are brought together and transactions made. It is a market where supply and demand reign supreme a free market, with all that implies as to security, fairness to both buyer and seller, and risks. In order to do ANYTHING, you have to know something about what you are doing, and this rule applies to stock trading. Before investing in any stock, it is essential ess-ential to have a good understand ing of the company, its line of business, its past earnings record and future prospects, and then and this is important--a pretty sound idea of the prospect for the nation's economic system as a whole. This last Is the toughest for the average stock trader to grasp. As to factual data on stocks, I know of no better source than a little monthly magazine called The Exchange. It is published by the New York Stock Exchange, at $1.00 per year. Another source of factual data is the Fitch Stock Summary, which some exchange firms can furnish. But beware of opinionated matter, mat-ter, and "expert" forecasts. Some financial publications are full of these, and their path is strewn with bankruptcy. The obvious truth is tht, if these advisors were as good as they say they are, they could all make millions quickly by putting their own advice into effect. None to my knowledge ever has. The salient fact concerning con-cerning them is that they offer a mass of contradictions. With some guessing one way, and some the other, about half are bound to be right half the time. Sophisticated traders make fun of them, with remarks like. "Want a hot tip? The aircrafts are due to go up", or, "They say Otis Elevator stands to cash in big as a result of having written escalator escal-ator clauses in its contracts", and so on. The safest rule to remember remem-ber in these, as in all other types of stocks, is that what goes up must come down. Nevertheless, if you want a nice investment which bids fair to pay upward of five percent with relative safety, you might consider consid-er buying outright, one or more shares in the multi-billion dollar AT4T system. I'm not recommending recomm-ending it, or anything else, remember. rem-ember. But as stocks go it's far from the worst. Its present price is 'about $156 per share, the an- nual dividend $9.00. Long term price range, the past sixteen years I sit ...ly Joe Marsh The Missus Keeps Posted Looks like she figured I stiff needed some checking-up and slipped that postcard in the last batch of letters. From where I sit, an occasional check-up is a good thing. Check-Bps Check-Bps oa just how tolerant we are of other people's preferences and tastes, for example. I like a glass of beer with supper, you may prefer cider but if I erer try to switch you to my choice, simply "address" me with reminder f your rights. I9j3, Liultd Slatti Bitut' Funhdotutn was between $1K) ami $200 - a reminder that even this stock can fluctuate. I don't own any, myself. my-self. Telephone stock is considered a good one for widows and orphans, who often have some insurance money to sjck away. On lower level, with greater risks for both profits and losses, come stocks classed as "business man's speculations" spec-ulations" in which group I like none better than ABC Paramount, which is the nation's biggest purely pur-ely entertainment enterprise. It was created by the merger of the old Paramount Threatre chain with the AEC network. This is not a recommendation, either. Just talk. Of course diversification is always al-ways prudent, and, while the man with upwards of, say, $10,000 to risk can do his own diversifying, those with less may, possibly, best buy shares in a Mutual Fund but not before investigating its record of profits and dividends. These offer both advantages and disadvantages too involved to discuss dis-cuss here, one of the advantages being wide diversification. So far, we have discussed only outright stock purchases for investment in-vestment and "mild" speculation. Yet the line between investment and speculation is hard to draw. Tis being said on the Street these days that there are no longer any investors, only speculators. Even buyers of government bonds are speculating in the future value of the dollar. Well, life itself is risky. But there are forms of speculation speculat-ion which are unquestionably on the "gam'bling" side of the line. To touch on some, briefly: The most common is margin. !'! , ;?vvik abw ENGINE POWER I . PRf SCUTS- I j , t: - yf. . J rlrTl f rr"---'-;r. ' I.-..,' J AWUiSSl '-- -- ik "'"' - - 1 1 f- n n . m,rr """ Bigger "Thriftmaster 235" engine. en-gine. Rugged "Loadmaster 235" engine. All-new "Jobmaster "Job-master 261" engine. ABW ECONOMY All three high-compression engines en-gines bring you greater operating oper-ating economy pls grea;ly increased in-creased horsepower. ;;;'fl'ns- Tills, under tin' rub which renuires tin- trader to ul iij 5iK; , margin, is not excessively dangerous, danger-ous, as it was in l;)2J when margins mar-gins of- '20 t were common, but still It riso.s the .'ambling odds, with resu'.lin;; h.gher chances for! gun and loss. j Then tiiere are deals involving warrants and rights. Companies; o.'ivu issue rights to buy their! stock ut specified prices. When ( these arc traded on the exchanges, I their price fluctuations are, or can j be, cx.u-nii'. They respond to a hig.t "leverage", in Street parlance A common form of speculation which couid neer be called investment, in-vestment, is short selling. In this :. jou, in efiect, bet that the price: of a stock will go down. To sell' short, vou borrow stock from a ! i dealer, and then sell it. Of course j you must deposit enough cash to ' protect him. Having sold some-1 thing you didn't own, you are sure j to have to buy it back sooner or later, to repay the loan of the stock, but as a rule no time limit is imposed. If the price goes up while you're "short", you stand to lose, and, of course, if the company com-pany declares a dividend while you're short, you have to pay it on the borrowed stock. If, as you hoped, the price of the stock goes down, you gain the difference. It's perfectly legal; slightly dangerous. A form of trading which can be murderous is the buying and selling sell-ing of what are called Puts and Calls. These are options, sold by dealers, which give you the right to "Put, or require him to buy from you, shares of a certain stock at a specified price within a stated stat-ed time, or to '"Call, or demand that he deliver to you, certain ,.. It.- Jk W Z, ' ,- 2 .J ... 1 MOST PO?UlA TRUCK K " k.4i'y'- '-J COMPLETELY NEW THE MOST POWERFUL, PIHEST PEHFORMllIG BEST-LOOKING ADVAriCE-DESIGIJ TRUCK EVER BUILT! Here's America's greatest truck builder's latest and greatest truck! Here's the brand-new line of Chevrolet Advance-Design Advance-Design trucks for 1954! They're here to do your work for less! They're here to bring you big savings on operating and upkeep costs ... to do your trucking job faster and more efficiently. And that's only the beginning! fife: Asw CAB CC.V.rcT DEPENDABILITY Biz rev. Sunset Chevrolet Company rhene 31 1 s H;, likewise. Dealers sell Pills and Calls for stated amounts. A cu.rent quotation, or instance, is a "Call option on 100 shares of Douglas Aircraft at 66 14, for $137.1)0, to expire next April 16. An advance in the price of the stock a few points might profit the buyer of the Call many hundred percent; a decline would mean loss of his $137.50. Here, RISK is : the word. Puts and Calls can be quick death j These, and many variations of speculations, hold interesting pos- I slliilHies, just as do roulette and Keno, for the gambler who can af- ford to lose. If you can only afford to win, not lose, forget them. No stock prognostication is com plete without a prediction, how-, ever wrong it may turn out. What j of the future? What of 1954? j The administration has slated, hearings for next spring on two ' vital subjects: the federal debt and the so-called gold standard. ! (Nobody, speaking of the gold standard these days, means a real gold standard, only the old hoax. Now, since the general price level lev-el is the result of the balance between be-tween the amount of money in circulation and the volume o f things offered for sale, and since our economic system uses debt for money, debt being another name for bank credit, the decisions decis-ions will affect the price level, and with it the business outlook. If it is decided to reduce the national debt, or return to "gold", or both, look out for a drop in prices of stocks and tangibles. But if it is decided to lift the de'bt ceiling, and stay off gold, the price level could remain fairly stable, on average, and business , iff ' ',-' i i T"", )'".jsv 1 - It III 1 1 i 14 Mosr mmvomy w Heavier a!e sha.rts in 2-ton models. Biuer. more durable cJutvhes in light- and hejvy-dar hejvy-dar models. M - I tux H A..1C 0:rry R. Hardy AF 19 1731X 507th Field Maintenance Squadron MeChord AFB, Washington Pvt. Darryl M. Cropper US 56213887 Co. D 135 Engr. Bn. Fort Lewis. Washington Pvt.U'Ray McAllister US 56211S91 Co. A E.S.D. 1. 8579th AAU Fort Holabird. Baltimore 19, Md. A2C Kenneth A. Hayes AF 19409873 1500th Mtr. Veh. Sqdr. APO 953 c o Postmaster San Francisco, Cal. and productions go ahead at a high rate. So, if they try to reduce the national nat-ional debt, better buy bonds, preferably pre-ferably governments. But if they decide to lift the ceiling, purchase of stocks may be in order. Or real estate, Or Commodities. purchase of fMOOJEBaEBSLOTKI SiHWiCls DRUG You'll find these completely new Chevrolet Chev-rolet trucks packed with new advances and advantages you want . . . loaded with great new features you need! So plan now to come in and get all the facts on the biggest truck news in years. See the trucks with big new benefits for both owners and drivers - really new Chevrolet trucks for '54! on aw job i ABl' BIGGER LOAD SPACE Rugged new pickup bodies have deeper sides. Sturdy new stake bodies arc wider and longer for extra load-space. Ct itr SmI rjsji tC O E rro Iw,, utMf ab moot 1 u ir f DELTA. UTAH MILLARD COUNTY CHROHIClE Delta, Utah, Thurs., Nov. IS, 1953 Card of Thanks We deeply appreciate the kindness kind-ness and consideration that was extended to our mother, M s. lsa-bell lsa-bell Lougy Smith, during tl .? time that preceded her death, i.nd we wish to express our sincere thank; to all who helped us in many way.; with the funeral services aii.l viili their friendly sympathy. The sons of Mrs. Isabell L. Si i;h Pvt. Lyn Prestwich US Co. M. 20th Inf. Regt. Fort Ord, Cal. Sgt. Emmer T. Largent lU!'',:',7'i.t H. S. Btry MT Pit 1st A. A.. A.V. F. M. F. Troops-M.C.T.C. 29 Palms, Cal. AUTOMATIC TRANSMISSION Truck Hydra-Matic transmission transmis-sion is offered not only on V4- and ?4-ton trucks, but on 1-ton models, too! ABl RUGGED APPEARANCE New front-end is more ma-.-sive in appearance. New poking pok-ing lights show the full wi :, of the truck. ABW |