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Show Ray Cromley 21 U.S.May Ease 5K2M Dedicated to the Progress And Growth of Central Utah Page It THE HERALD, Provo, Utah A Great Gift of administration of The Ulysses S. Grant is not numbered among the more iilastratious in America's history. Yet, with one stroke of the presidential pen 100 years ago, Grant did something that places him among the greatest presidents in terms of what they bequeathed to posterity. This was his signing on March 1, 1872, of a bill creating Yellowstone National Park in the distant and still unsxplored West. Y jlowstone was more than just America's first national park and the beginning of a system that now numbers 36 parks and more than 200 graft-ridde- n other national landmarks and recreation areas. It was the first time in history that a nation had set aside part if its territory to preserve for future generations. The example of Yellowstone inspired similar park systems in other countries. Before the turn of the century, Yellowstone had been joined by Yosemite, Sequoia, General Grant (later renamed King's Canyon) and Mount Rainier National Parks. In 1899, when memories of the Indian wars were still fresh, Congress acted to preserve the remains of ancient civilizations, first at Casa Grande and later Mesa Verde. Some of this may be news to those who believe that ecology and conservation and environment are words that were coined yesterday. True, our forefathers were often careless and prodigal with this land. Yet an appreciation of its natural beauty and the awareness that this beauty is a heritage to be passed on unspoiled is not the exclusive an of discovery latter-da- y III" types. came into being "Consciousness Yellowstone Rightist Dip Rightist radicalism continues to decline in the Federal Republic of Germany. Not only has the largest rightist party, the National Democrats, failed to gain seats in the national parliament in Bonn, but it has consistently won a percentage of votes well below the 5 per cent minimum for sending a delegate to any state legislature. According to the latest report of the Federal Office of for the Protection of the Constitution, West Germany and West Berlin have only about 31,500 all told in a population of around 60 million, and they are scattered among 66 splinter parties. ts Tuesday, March . 1 21, 1972 because a exploring party 14-m- was so impressed by its wonders and grandeur that they gave up all thought of staking claims. Around a campfire on the night of Sept 9, 1870, Montana Territcrial Judge Cornelius Hedges advanced the idea Today, of course, it is just the opposite. Highways and automobiles have brought America's natural beauties within reach of everyone so much so that some areas of some parks in peak tourist seasons resemble city slums. But the parks are there. What would America be like today if a few men had not had vision 100 years Nobody Really Speaks For Black Power at the Polls 'Ms' Means Whole Lot That's not true, as a quick dip into any dictionary will show. MS or ms, variously capitalized or stands uncapitalized, for manuscript, for one thing. It also denotes a Master of Science. It's a millisecond. A machinery survey. Mail steamer. Main switch. Left hand (mano sinstra). Margin of safety. Master sergeant. Maximum stress. Mean square. Medium shot. Medium steel. Mild steel. Sacred to the memory (memoriae sacrum). Meters per second. Metric system. Minesweeper. Mint sulfate. Motor state. Morphine ship. Multiple sclerosis. It's also the plural of "M." Some of the above words have a definite women's liberation ring to them, like maximum stress and milkd steel. And since little "ms" already carries such a heavy freight of meanings, only a mean square would object to one more "Militant she" (with, definitely, a capital M). Not Typical of Country look good. The evidence from this vote, at least, indicates Florida is not at all typical of the country but is in fact very special. Some 55 per cent of those Democratic voters who turned out chose conservative candidates with winner Gov. George Wallace getting 42 per cent and Sen. Henry Jackson 13 Der cent. That performance will not likely be duplicated in the nation at large, and especially not in any of the big northern industrial states where most Democrats live. weakly. Oh yes, Humphrey, untested in primaries since 1960, got enough encouragement from the Florida result to go forward in search of bigger things in other more significant primary states. But that really is not saying a lot. Wallace simply has made fools of them all. To hear Humphrey and third-plac- e Jackson in their postprimary comment was to watch the theater of the absurd. Humphrey, with a mere 18 per cent, told a national television audience that what he did in Florida "demonstrates that I can win." Jackson, with 13, said Florida voters had "responded generously" to his candidacy, that he was a "solid third," that he was going on to the April 4 Wisconsin primary and was "going to win." A hard scan of the vote shows Humphrey got about half of Florida's gizfcbk Hack The National Black Political Convention in sought to mobilize power where the in political office. power is The prospects for black power mid-Mar- at the polls: There's two-thir- cop-ou- school busing. And they adopted another Differences we have; racial they're not. And religious resolution saying busing is bad, they're not. No, they're not! saying, "We condemn racial When the first National Black integration in schools as a Political Convention convened in bankrupt, suicidal method based Gary, Ind., its avowed purpose cn the false notion that black was to get blacks to close ranks children are unable to learn unless they are in school with politically. Before the convention was white children ..." the Catholics. Letters to Editor Pleased With Report Given by COST Group Editor Herald: I was pleased to read the recent article which reported the work of the COST group in researching the problem on Utah County's jail. For a time I had some doubt that this group would follow through once the bond election was over. It is encouraging to see that the issue is still alive, and that action is being proposed for resolution of the problem. The recommendations listed in the article impressed me as being positive, practical, and economically reasonable. The recommendations for g, Democratic vote, and also scored heavily in the overlapping Jewish-elderl- y as expected community in the broad Miami-to-FoLauderdale zone. Were it not for that special hold, which I found based upon enduring affection going years back, Humphrey very likely would have finished back in the messy pack with the rest of Wallace's rivals. In no way does his 18 per cent demonstrate Humphrey can get a big vote from his party's broad center. He still has that to prove. Seldom in American politics have so many men tried to take so much encouragement three days under way, of the 3,000 delegates had out. walked Various disagreements. As a candidate for President they agreed on nobody. Before the convention ended they applauded and approved been too much preoccupation with "racial differences" in the United two resolutions on school busing in diametrical opposition to one States. t for the another. It's a too easy They adopted one resolution to blame the blacks for all opposing segregation, put the our problems or the Reds or convention on record in favor of community involvement through citizens committees and volunteer services struck me as being especially valuable. Hopefully, a program of this sort will not only correct present deficiencies, but also prevent the same problem from repeating itself in the future. Jails are an unpleasant fact of life and it is too easy for the uninvolved community to remain wilfully ignorant of bad conditions. It now remains to be seen whether our elected officials are willing to work with interested citizens in a cooperative effort to correct and improve the Utah County jail situation. As a voting citizen, I am interested especially in observing the manner in which the county officers check the public "pulse" and respond to it. Yet, despite the walkouts and the obvious disagreements, the Rev. Jesse Jackson calls the convention miracle." "a lightweight He says just to get that many blacks of diverse interests to convene for political purpose was a major accomplishment. He sees a hundred blacks elected to political office in Alabama with the support of the "national Democratic Party" of Alabama and he hopes this national caucus can but he multiply that influence has no illusions about blacks closing ranks. James Meredith, the first black to enroll at 01' Mills, sought to interest blacks in p economic failed. Huey Newton of the Black Panthers reverts to working self-hel- "within the system" while former Panther Eldridge And the black police chief of Gary, Lid., says courts are too lenient with blacks and thus he's powerless to protect blacks from tracks. And everywhere there is substantive evidence that the heterogeneity of American society involves much more than racial difference. And the white who says "You blacks are thus ..." Is as myopic as the black who says "You whites owe us ..." The black political convention was altogether in accord with the American political tradition. It reminded us that issues such as busing are not simply divisible along racial lines. And as this conspicuous individuality should sober those whites who casually categorize everybody, so it should serve as a slap across the mouth to any black leader who professes to speak for "the black Henry Meyer community." Nobody does.! Pleasant Grove gap with this country. the industrial-economi- c is buying machinery and Union Soviet already The equipment in west Europe and Japan to the limit of its ability to pay. It is straining to purchase the imported foods its people require. To buy appreciably more in the United States or anywhere else would put a severe strain on Moscow's gold reserves. Russia will find it extremely difficult to expand its sales to the United States, even under more favorable terms. For the Soviet Union produces little Americans want at the quality and prices they insist on. Russia has a future export potential, on paper, of huge dimensions. She has underdeveloped petroleum, gas, lumber, and mineral resources aching for the input of foreign capital. These are products U.S. companies would buy in quantities if development is forthcoming and the price is right. Ttfe problem is not the Soviet objection to profits. The Russians are known to be amenable to a formula, worked out in discussions with Japanese businessmen, by which Americans could take out the U.S. share in products-g- as, petroleum, lumber and minerals. The difficulties apparently are of a different nature but what they are is not clear. Japanese businessmen with access to major amounts and the skilled of investment capital, industrial know-hotechnicians required, have been negotiating in quite friendly fashion with the Russians for several years. The Japanese have what the Russians want and the Japanese badly need the products that would result from the joint ventures they're discussing. Though some success has been achieved, in the main, the talks go on and on, round and round. No doors are closed but few are opened completely. It seems to be taking forever and a day to work out arrangements. If the Japanese experience is any criterion, U.S. private investment in any sizable amount, if allowed, is , likely to be a long time coming. Personal Finance Selling Short Is Not for Amatuers By CARLTON SMITH Many amateur investors seem to have a lurking idea that they could rake in profits during market declines if only they understood more about that sophisticated technique, selling a stock short.' Is it one you should learn to use? It's commonly made to sound mysterious by being described as "selling a stock you don't have." Not true; in fact you sell a stock you have borrowed. Tell your broker you want to "go short" 100 shares of XYZ Industries, and he'll look through the records and find that another customer, Wilson, owns 200, so he borrows 100 of them for you. (Wilson has a type of account that allows the broker to do this, at his discretion.) The brokerage firm's floor man at the stock exchange now sells these shares on the XYZ at 25 open market-1- 00 and the $2,500 proceeds (less commission and other charges) come back to the office as in any sale. Wilson is protected by a $2,500 cash deposit to his account supplied by you and loan money from your broker. A month later, XYZ has dropped from 25 to 19, and you decide it's time to cover your short. You place a buy order and acquire 100 shares rt from so little. New York's Mayor John Lindsay would have us believe that his cent edge over e Sen. George McGovern gives him a mandate to go charging on through other primaries. McGovern wants us to think that, because he says he sets his sights low and spent little, he made a "good showing" at 6 per cent. Muskie, damanged the most by falling below 10 per cent, at least had the grace not to er Furthermore, I will enter here, strongly, what I am sure' is a minority report: It is my judgment that Wallace's whopping vote left all of his rivals, not excluding second-plac- e Sen. Hubert Humphrey, finishing very Paul Harvey ago? "Ms" has been called an abbreviation in search of a word. Denigrators of women's liberation have pointed out that the letters are just a manufactured designation for a female person of unspecified marital status and don't really stand for anything. t.E.i p making the area a national trust for generations yet unborn. What is remarkable is that this concept could have been accepted at a time when so much of America w&3 still wilderness, when there seemed to be an unlimited quantity of land and wealth for the taking and when only a very small fraction of a small population could make the difficult journey to the remote Yellowstone area. A WASHINGTON Wiinin the next few months. President Nixon niav ease r&strictions on the export of high technology machinery and equipment to the Soviet Union. At the same time, the President is expected to take positive steps aimed at easing the hurdles facing Russian exports to this country. It is known that Nixon's Soviet specialists have told him these steps would not present serious dangers to the United States so long as American shipments to Russia do not contribute directly to advanced military systems. These Moscow watchers argue that the Russian svsteni military-industricomplex except for its is inherently so bogged down in bureaucratic supervision, that an easing of U.S. restrictions and a step-uin Russian imports of advanced industrial equipment will not enable the Soviet Union to significantly narrow high-priorit- y of Florida Vote Probably There is just no way that Sen. Edmund Muskie can make fourth place and a 9 per cent vote look good. But neither is there any way that the Florida primary can be made to " , 9th Century Bruce Biossat M A'-&j'ih- H Moscow Trade left-sid- pretend he had won something. The blunt truth is that, except for Humphrey, who had a real need to make a quick dent somewhere in order to be a plausible alternative to Muskie, most of the "national candidates" probably made a grave strategic error in getting involved in a costly major effort in Florida. I and others saw polls early last fall t snowing Wallace beating all comers. It then the Florida test could only be a dubious struggle for second place. The silly business of claiming ' victory" from second, third, fourth and even fifth place was begun early. It has no parallel as a piece of political folly. All that money, all that travel, all those words and that energy, far THIS? Citizen Is Concerned OverXhicanoMovement' Editor Herald: Since I read about the organization Raza, conducting classes in a Provo school, the thought occurred to me to watch for other articles about La Raza. It seems to me that this organization is part of what is becoming known as the "brown revolution" or "Chicano movement." I found another article in the Herald on March 10. Let me quote this UPI dispatch in the the Herald concerning demonstration in Salt Lake City: "...A spokesman for La Raza a Chicano militant group said they went to the newspaper to protest..." etc., etc. It seems this alleged "militant" Mexican-America- n group is protesting the news coverage of the shooting by police of two Chicano organizers Jan. 29 in Albuquerque, N.M. after they "were caught allegedly stealing dynamite from a construction site. But it should be noted that "a grand jury investigation into the incident rules the deaths justifiable homicide." The case is still under investigation. All this seems a far cry from innocent school classes and responsible political activity. By the way, in Texas, Ls Raza interests have for These go into Wiaccount, to replace those you borrowed, and his cash deposit is released. You've spent $1,900, taken in $2,500, for a profit of $800 less trading costs. Nice? Sure, it it happens that way. But there are several reasons why short selling is hazardous for the amateur. Your risk is virtually unlimited. When you own stock, the worst that can happen is losing all you paid for it, if it comes to a complete bust. But if you're short, and XYZ goes up instead of down, you'll need $3,000 to cover when it gets to 30, $4,000 at 40, and so on, the sky being the limit. Many a short has been murdered by a stock that went in the wrong direction, and kept going. The professionals have lots of fun organizing a "short squeeze." Somebody notices heavy shorting of some stock, which probably means a good many amateurs in the game. He buys mat 1,000 shares at "cleans up the book" gets rid of all the shares being offered at 25. Now he puts in another bid for 1,000 and picks them up from people who wouldn't sell at 25, but $1,900. lson's will at 254. The rising price makes the more nervous short-seller- s decide to cover. Now there's added buying pressure, raising the price even further. After a bit the professionals are selling the,shares they bought at 25 to scared shorts who are covering at 27 or 30. declared You can be right, but the wrong kind of stock. Even though you've a spotted what looks short themselves to be a political party. (See Deseret News, March 3, 1972, p. A 11.) Let us hope and pray that many of our good neighbors of Mexican descent are not being sold a "bill of goods" by militant La Raza "organizers." Sandra Eggertsen 931 E. 100 N. Provo like sure candidate for a price decline, you can get nasty surprises. A company's earnings are falling, and sure enough the price of its stock declines, after you've shorted it. But it's a company assets-pri- me e with high candidate for a take-oveAnnouncement of a merger or liquidation could cause the stock to jump s sharply, leaving the stranded. There are other traps for the unwary, and you can add to them the tax handicap of a short sale. No matter how long you've held a short position, p.ny profit on it is not, says the IRS, a long-tercapital gain. It's taxed as ordinary income. Selling short may sound like a neat way to rake it in when everyone else is moaning about a market decline-b- ut it takes professional expertise to skirt the numerous hazards. In general, it's best left to the professionals. book-valu- Provo's Fire short-seller- Department Earns Thanks Editor Herald: I would like to thank the Provo which Department, responded so quickly to a fire in my house March 17. They were so kind and not gruff and smart alecks. This letter is a pat on the back for the excellent service our fire department renders to us. Mrs. S.C. Adams 445N,UniversityAve. Fire 4 . and if John Lindsay becomes president, we'll not only have 'Fun City' we'll have 'Fun Country'!" I |
