Mt. Vernon Register-News from Mt Vernon, Illinois on January 15, 1969 · Page 7
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Mt. Vernon Register-News from Mt Vernon, Illinois · Page 7

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Mt Vernon, Illinois
Issue Date:
Wednesday, January 15, 1969
Page:
Page 7
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WEDNESDAY, JANUARY 15, 1069 THE KEGlSTEH-Nh'WS — MT. YERNON, ILLINOIS 7—A Insurance, Pension, Mutual Managers Meer $300 Billion In One Room one By JOHN CUMI'F XV Business Analyst , NEW YORK (AP)-In I -sj/ vast hotel room later this month will be assembled representatives of at least $300 billion of assets, most of which are in securities. These are the men who make the stock market move. Among the 2,000 money managers will be insurance men, mutual and pension fund portfolio managers, bankers, trust fund administrators, heads of nonprofit foundations. The event: The Second Arnual Institutional Investor Conference. The common interest of all will be common stocks, for in these days of inflation and technological change, investors once willing to make a few per cent year are now going after 10 to 100 per cent. In some respects it's a mad race. Mutual funds, for example, are geared to "performance." This means they will take bigger risks and trade in-out more often in order to show their Mutual funds, for example, are geared to "performance." -o- -o- -o- This means they will take bigger risks and trade in-out more often in order to show their quar- tely reports that they're doing better than the next fund. This, of course, attracts a lot of attention to the winner, and soon the winner is buried in an avalanche or orders. One mutual fund this year had to suspend operations while its clerks frantically recorded new orders. It was doing too well. This isn't the only fate of the highly successful performer. Some of the best young funds attract so much money that they can't find suitable investment opportunities. And so they, too, lall behind In the race. Nevertheless, the highly publicized performance of the funds has put other institutions on the sput. Most of them have been t'o-ced to blow the dust off old securities and take greater risks for greater profits. Because of their activities, Gustave Levy, chairman of the New York Stock Exchange, estimated recently that as much as 50 per cent of all trading on the Big -o- -o- -o- Board is by institutions rather than individuals. r ihis steady reduction in povv- or of the individual has created serious problems of regulation and ethics. The stock market to- c"ay is hardly one of random trading, the consequences of which are now being studied by the Securities and Exchange i Commission. ', A check at the SEC docu- j mcnts this gorwing corcentra- tior of stock ownership and | stock market activity. Since 1958, private parties have been selling direct their holding of stocks: the institutions have been big buyers. Foreign and domestic individuals still accounted for 66.5 per cent of all stock ownership up to June 30, 1968, according to the SEC, the breakdown being 5462.5 billion owned by Americans and $23.2 billion by foreigners. Most individuals, however, are investors rather than speculators or short term trades. They wouldn't care nor understand how to turn over their MOONSCAPE AT CLEAR LAKE—Drifts on Clear Lake are wind-swirled into patterns resembling the craters of the moon. This view is along the north shore. The well bund led vgi snowmobile riders in the distance may be practicing for the snowmobile rally held at the lake u> Iowa Saturday afternoon and Sunday. (AF Wirephoto) OSCAR HEALTH and BEAUTY AIDS East Side Square Prices Good Thurs., Fri., Sat., Jan. 16, 17, 18 .49 UBDUE DANDRUFF SHAMPOO 77 98c HAIR GROOM C0RICIDIN 25 TABLETS 98c LIQUID ASPIRIN FOR CHILDREN. 69c UTMAN'S COUGH SYRUP 44* 39c BAYER ASPIRIN FOR CHILDREN 22 98c JUST WONDERFUL OR AQUA NET HAIR SPRAY 47 *$4.00 SIZE RT FLOWER HAND AND $ BODY LOTION i 69 39c COTCH TAPE 22 -o- -o- -o- portfolios by the week or month or year. Instead they buy for several years, even decades. Because of more frequent trading, the following SEC estimates of stock owrership are even more significant than they appear: Personal trusts, $78.4 billion or 10.7 per cent of all stock— common and preferred, listed on exchanges or traded over the counter. Investment companies, or mutual funds, $54.1 billion or 7.4 per cent. Private, noninsured pension funds, $54 billion or 7.4 per cent. Foundations, such as Ford and Rockefeller, $15.2 billion, or 2.1 per cent. Property and casualty insur- arce companies, $13.6 billion or 1.9 per cent; life insurance companies, §11.8 billion or 1.6 per cent. College endowments, $8.4 bil- ijen or 1.1 per cent; common trust funds, $4 billion of 0.5 per tpnt; state and local trusts or pensions, $4.8 billion or 0.7 per cent; banks, $2 billion or 0.3 per cert. Now if money meant freedom from problems this conference would be dull, but instead there is at least one major problem pr>r billion dollar of assets. This is a young and growing investment trend. So young is it, in fact, that the sponsor is a two-year-old magazine, The Institutional Investor, headed by a 27-year-old publisher, Gilbert Kaplan. It ought to be a great party. We Reserve The Right To Limit Quantities HOROSCOPE Thursday; During the daytime you certainly are apt to make demand's on others that can be unreasonable, so try to curb that urge to get them to do your bidding. Then the late day and evening gives you an opportunity to really use extra energy to help you improve conditions. ARIES (Mar. 21 to Apr. 19)Permitting family to stop you from getting ahead in your career is not wise during the day. Handle that business matter wisely. Is your romantic life as it should be? TAURUS (Apr. 20 to May 20) You can handle routine matters more ideally if you discuss them with partners instead of cb- workers, employees. Do not spend that money today for new attire. GEMINI (May 21 to June 21) Don't permit fun tangents to get in your way, and it will be easy to handle promises made to others. Be sure you show partners you do more than your share of work. MOON CHILDREN (June 22 to July 21) Listen to what partners say instead of going by what kin suggest, since their ideas are not very practical. Out later for recreation you enjoy with charming individuals. LEO (July 22 to Aug. 21) Better keep promises to partners instead of running around trying to induse others to do what you want. Listen to what family have to say in P.M. They have wonderful ideas for more harmony security. VIRGO (Aug. 22 to Sept. 22) Stop being extravagant and enjoy the less expensive recreations, hobbies you like. Use that smile more with others. LIBRA (Sept. 23 to Oct. 22) Why not find out what family wants from you and then meet their desires instead of being pugnacious. A monetary matter can be handled with speed and accuracy in P.M. with kin. SCORPIO (Oct. 23 to Nov. 21) Stop worrying about that matter that has you puzzled and keep busy with work at hand, shopping, etc. Listen to ideas of others. Evening is excellent for big entertainment at social affair. SAGITTARIUS (Nov. 22 to Dec. 21) Avoid gossipy pals and concentrate on increasing your abundance in a practical and intelligent manner. Garner the data confidentially that makes your future brighter. CAPRICORN (Dec. 22 to Jan. 20) Why not get busy with personal affairs and avoid higher- ups today who are on the warpath? If you go out socially tonight, you make fine contacts who can be most helpful in the days ahead. AQUARIUS (Jan. 21 to Feb. 19) Good day to talk confidentially with authorities and bigwigs so you learn what they can do for you in the future. You need to expand. PISCES (Feb. 20 to Mar. 20) Stop fooling around with dull work and! get together with one who can make your life more interesting und rewarding. You can kach that goal in p.m. provided you have a new slant. MUHPRY'S MURPHY'S MURPHY'S MURPHY'S MURPHY'S MUHPRY'S MURPHY'S MURP to > >X CL oc 3 2 to >Q. OC to >I Q_ OC to >• X OC to X a. oc to >X a. ac CO >OC OL. X Ik Murphy's' EVERY DAY, EVERY WEEK w Low Prices WHY PAY MORE??? MAKE THREE PATTERNS BIG SAVINGS! MURPHY'S REGULAR $3.47 CROCHET AFGHAN * RIPPLE * FIESTA KITS GRANNY REDUCED 20% APPROXIMATELY 45x60" FINISHED Bamboo Look Bases! 37" TABLE LAMPS Dramatically tall contemporary lamps. Hydrocal base* are hand antiqued and finished to look like bamboo. Many styles. 15" shantung f Aric drum shades. Limited Quantity MIGHTY MAC ASSORTMENT Dump Truck, Twin Loader, Spreadilizer 7V 4 " plastic Detailed with friction motors REDUCED 48% THE COMPETITORS • Porsche, Chaparral, Mercer • 7y 4 " plastic • Detailed with friction motors 77 100% NYLON SHEER SQUARES • 24" cut size • Machine hemmed • Solid colors, ombres, brushed prints, flocked prints REDUCED 55% 2 C X •o 70 -< to 2 c 70 -a X -< to 2 c 70 "V X -< to 2 C X •o 73 •< to 2 c 70 "O to 2 c 70 -a X -< •1. to 2 C 70 -a X -< to 2 C X -u to MEN'S CHORE GLOVES • Double palm • Big Murph our own brand No. 418 • White back • Heavyweight No. 428 • All brown flannel REDUCED 21% 3 Pairs $jOO Thursday — Friday — Saturday Only 2 C 70 2 C X to 2 c 70 •O X -< to 2 c 70 ~a X 2 c in ? P _ E H A ™ A- ™!*:: ™_ S *I- Monday-Tuesday-Wednesday 9:00 A.M. To 5:30 P.M. G. C v M^*^ Quality Always Self-Service South Side Of Square Mt. Vernon /MUHPRYS MURPHY'S MURPHY'S MURPHY'S MURPHY'S MUHPRY'f MURPHY'S MURP 1

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