Asbury Park Press from Asbury Park, New Jersey • Page 14

YOUR MONEY'S WORTH 14 ASBURY PARK EVENING PRESS, Oct. 7, 1968 THE DAILY INVESTOR 3 MILLION AFFECTED Alcoholism Among Workers Costs U.S. Launching Probe Of Consumer Products miums to any employe who can successfully conceal his alcoholism. "The man who admits he has been out on a binge won't get sick pay. But if he can conceal this, he gets paid.

"The employe who no longer can conceal his alcoholism usually is fired." Performance Seen U.S. Industry $4-Billion Annually Key to Mutual Choice tudes of top executives of 100 companies on alcoholism and drinking, problems. Fifty of those queried responded, he said, and, "although there are wide differences the consensus shows concern for those with drinking problems and an interest in company programs of control and rehabilitation." Habbe said the latest study showed "a greater awareness oh the part of the executive of the alcohol problem in business, and a new readiness to take steps to deal with it." Ten years ago, he said, 21 of the 50 companies replied that if they did have an alcohol prob lem it was nothing to worry about but in the. latest study only 16 gave this answer. "Ten years ago, three companies said their problem with alcohol was serious enough to give them concern.

Today nine are concerned. The remaining companies take mid positions." Gain Little Solace While more companies today recognize the alcohol problem as a serious one, Habbe said, "this change gives little solace to serious students of alcoholism, who point out that relative ly few companies perceive the true dimensions of the drinking problems in their organizations, and that still fewer have been motivated to the point of instituting control programs." VonWiegand agreed that while some progress was being made toward recognizing alcoholism as an illness "in the great majority of cases not too much progress has been made here." Every company that doesn't have an alcoholism program, he said, "does have an unwritten policy that says, essentially, management will pay cash prizes and other economic pre Officials Plan Meeting On Bridge Issue POINT PLEASANT Mayor Walter E. Brown said borough officials hope to learn how sincere and anxious state officials are to solve the problem of the Lovelandtown Bridge when they meet with state Transportation Commissioner David Goldberg tomorrow. Mayor Brown said the question he wants answered is, "When will we get the bridge? Mr. 1 has invited local and county officials to attend a meeting at his office in Trenton to discuss a $2 million appropriation for a new bridge that had been transferred for railroad improvements Under the Aldene plan.

The money would have met half the cost of a proposed bridge over the Point Pleasant canal. Mayor Brown said under the Aldene plan he notes $114 million is earmarked for new railroad cars. "I think they should make that $110 million for the cars and give us $4 million for the bridge," he said. The $2 million was appropriated in 1963 after the western end of the old span collapsed during a March 1962 storm. A temporary wooden span was built to replace the collapsed portion.

The state had proposed building a new bridge several hundred feet north of the existing bridge. Mr. Goldberg now says construction of the new bridge is dependent upon passage of a $640 million highway bond issue to go before voters next month. Mayor Brown said Sen. William T.

Hiering, Assemblymen Benjamin H. Mabie and John Brown, all R-Ocean, have indicated to him they would be happy to introduce legislation to create an appropriation for a new bridge. Mayor Brown said he is optimistic about the outcome of the conference tomorrow. He said carpeting, medicine cabinets fire extinguishers, cleaning agents, bicycles, skis, snowmobiles, swimming pools, trampolines, dolls, hair curlers, Christmas trees, disposable diapers, hand tools, glass bottles, lawn mowers. Why the massive federal probe? Because today in the U.S., more than 4 million home accidents occur each year, 30,000 of which result in death.

Each year, there are 225,000 accidents involving washing machines, stoves, power mowers and heating devices. Each year, there are 40,000 accidents involving glass doors, 100,000 involving automatic clothes wringers, and 30,000 involving electrical extension cords. Standards Ignored Also behind the threat of crackdown is the fact that only an estimated 20 to 30 per cent of U.S. manufacturers have quality control procedures. And even where industries have set up safety standards for their products, far too many individual companies continue to ignore those standards.

Finally, the measures taken at the state and local levels of government to reduce accident rates due to defective or badly designed household products have been disgracefully inadequate. Nov. 20, 1969 is when the com mission is scheduled to complete its investigation. To industry, the deadline is a warning to start at once to upgrade safety standards for consumer products and to improve design, inspection, testing, and quality control measures. To industry's trade associations, it is a signal to upgrade voluntary regulatory standards, review procedures for "seals of approval" and reexamine safety tests.

Individual consumers are now being invited to send their erines to the commission in By SYLVIA PORTER In Brawley, an eight-year-old boy was electrocuted when a portable hair dryer fell into his bathtub. In Greenwich, a 13- month-old baby hanged himself on the string of a musical toy designed for infants in cribs. In Dearborn Heights, the father of a young boy who had received a toy electrical welder as a gift discovered fortunately before any accident occurred that because of a design defect the welder easily could have caused electrocution. In New York City, three children were found dead in an unused home freezer, because the freezer could not be opened from the inside. These are case histories out of the files of the new National Commission on Product Safety, created by Congress last No vember, The commission is now launching what probably will be the most far-reaching consumer protection study in our history.

To illustrate, here are some of the 250-plus categories of household products to be studied: Among general household appliances: clothes washers and dryers, electric blankets, water softeners, home intercom systems. Targets Listed Among kitchen appliances: stoves, refrigerators, electric frying pans, rotisseries, electric knives and scissors. Among heating and cooling devices: air conditioners, de-humidifiers, furnaces, space heaters, fireplaces. Among housewares: meat grinders, pressure cookers, cof-feemakers, and garbage pails. Among home entertainment appliances: radios, TV sets, tape recorders, movie projectors, electrical musical instruments.

In addition: gas pipes, glass doors, ladders, indoor-outdoor Property Taxes Lead CHICAGO Property taxes supply seven out of eight locally collected dollars and pay half the bill for local schools throughout the United States. Fusion Ticket Fund Raising Event Slated NEW SHREWSBURY The "Do Something About It" slogan! of the independent and Democratic fusion ticket will stand for dinner, songs, auction and involvement at a fund raising event next Sunday. The group will sponsor a turkey dinner and country auction at the Old Mill, Tinton Falls, beginning at 7 p.m. Entertainment will include performances by the Carlisle Trio, vocalist Ruth Kave, and The Townfolks. Mrs.

Thomas Ruzicka is general chairman, assisted by Mrs. John Talbot and Mrs. John McCarthy, dinner chairmen; Leonard Scholsberg, entertainment chairman: Mrs. Irving Cohen, hospitality chairman; 1,1 dsu" nd P1 101 mmmmmammmmmmmmk One Of A Kind FLOOR SAMPLE SALE! Sofas Chairs Lamp Tables Worthwhile Reductions When you put $1,000 into the typical load fund, $85 goes out in commission, leaving $915 working for you. When you put $1,000 into a no-load fund, all $1,000 Works for you.

If the load fund outperforms the no-load fund over a period of years (and a mutual fund should be counted as a long-term investment) you're better off with the load fund. That's basic. There is no evidence, however, that load funds consistently outperform the no-load funds. No one mutual fund leads the performance pack all the time. In some periods load funds have done best.

In other periods no-loads have been ahead. Q. Several years ago I bought some stock of a small company at $5 a share. That company was recently merged into another company. I received one share of the second company's stock for each share of stock I originally bought.

The stock I received is selling for $2.50 a share. Can I take a tax loss for the difference? A. Not unless you sell the stock you now have. By selling you would realize a loss of $2.50 a share and you could then report it as a capital loss when you file your income tax return. As far as taxes are concerned, that merger and the exchange of stock didn't alter your situation at all.

I'll bet that your original stock was down in price (to about $2.50 a share) before the merger. Q. I am a widow, 42. My lawyer advises me to sell some stocks my husband left, because they are "cyclical." He suggests that I buy some electric and gas utility company stock for present and future income. Is this sound advice? 1H A.

Very much so. Your lawyer is suggesting that you follow a conservative investment course a very sensible thing for a widow. Cyclical stocks are those of companies in industries which usually show rather large profit changes as the nationwide business picture goes through cycles of boom and recession. Utilities, on the other hand, are solid situations and are counted on to do very well gradually increasing their earnings) even when the nation al economy declines. Many good utility stocks are now selling at prices at which their dividends produce current yields of close to 6 per cent.

And they have patterns of steadily increasing dividend payments. (Mr. Doyle will answer only representative letters of general interest in his column. Send correspondence to Readers' Service. Asbury Park Press, Press Plaza.

Asbury Park. N.J.) 4 lis No obligation, of course Just Coll Liberty 2-1212, ext. 423 Bamberger's Monmouth 19 Boyle thest smoo ever! Huffman Rt. 35 Circle Ealontown, N. J.

512-1010 Washington; hearings to be held from coast to coast will almost surely generate a rash of unfa-; vorable publicity in many prod-juct categories (names will be named); damage suits by con-; sumers are a real possibility. I This could be dynamite. By WILLIAM A. DOYLE Q. I have become very interested in the discussions of "load" versus "no-load" mutual funds.

I feel that too much emphasis is put on the load. From my personal experience as an investor in two load funds I've come to the conclusion that performance (not the load) should be the deciding factor in choosing a fund. Can yon disagree? A. Not with your last statement. In a mutual investment performance (rise or fall in the value of the fund's shares) is what counts.

In the final analysis it's the only thing that really matters to the mutual fund shareholder. When you put money into a mutual fund, you naturally want to see the value of your invest ment grow. If that doesn't hap pen, you've got a dud and you would be wise to get your money out and put it to work elsewhere. And, if you pick a load fund that performs well, you're naturally happy. The fact that you were charged a commission of up to 8Vi per cent of the money you paid shouldn't bother you.

If the fund is a real winner, you certainly didn't lose anything by paying a commission. But there is no getting around the fact that an investor does start off with an edge by picking a no-load fund. How he ends up, in the long run, depends on performance. Cleaner Air, Water Group Meeting Set LONG BRANCH The new, all female Garden State Committee for Cleaner Air and Water will install officers Sunday, Oct. 20, at the home of Mr.

and Mrs. Harry J. Wilson, 478 Atlantic Ave. Mrs. Lucy J.

Wilson, former City Council member, has been elected chairman. Other officers are Mrs. Letty Thoms, treasurer; Mrs. Georgina Lampkin, secretary, and Mrs. Helen Gerst, Little Silver, financial chairman.

Society columnist Milli Hruska will be hostess. Municipal officials of towns bordering the Shrewsbury and Navesink Rivers, the Monmouth County Board of Chosen Freeholders, and representatives of the state Departments of Health and Conservation have been invited to attend. Mrs. Elizabeth Willis, Fair Haven, is ticket chairman. Those attending will become charter members.

The committee is aiming for construction of an ocean inlet to the Shrewsbury, within the Long Branch boundary. 'iITT i 1 Don I you r'" i First, ii provides Second, it only lime Yet, even the old ways. It takes only tnd cbsolulely Best of oil, If you ujEre barn before 1303 we'll giue you all the money orders you need. BEE By PHIL THOMAS AP Business Writer NEW YORK r- The cause of alcoholism among workers isn't known, but the is: upwards of $4 billion a year, And that figure js a conservative one, says Ross Von-Wiegand, consultant to the National Council on Alcoholism. Some management sources put it as high as $7.5 billion a year.

"Our figures those, that can't be gone below," Von-Wiegand said. "We figure a minimum of 5.3 per cent of the total work force, or about 3 million employed people, has alcoholism. Every active alcoholic on the payroll nationally couldn't cost an employer less than $1,585 a year. But these are fairly conservative figures. They could run much higher." The cost figure, VonWicgand said includes lost time, sick leave pay, accident pay resulting from alcoholism, disability payments, and earlier retirement payments.

Hard to Calculate It also includes the hard- to calculate costs run up by the hangover worker who is on the job but isn't performing as well as he'would normally. "There's a warm body there, but he isn't functioning," VonWicgand said. "He's a half-a-man." Stephen Habbe, in an article dealing with alcoholism and the business community in the October issue of "The Conference Board Record," notes: "Problem drinkers that cause their companies the greatest losses usually are fairly long- enrvipo nmnlnvM in fhA age range. A company is apt to have a considerable investment in these workers, ana tncy are not easily replaced. This is especially true of those at the manager and executive echelons." In an effort to combat alcohol-ism and its effects, Habbe said, "many companies that did not have alcohol-control programs in 1958 have them today." Studied Attitudes He said The Conference Board made a study in 1958 and again this vear of the views and atti- per annum compounded quarterly the U.

S. Government EVES. 6 8 vY3 ton! iOirfi- 7 REAL BRA SLIP by Youthcraft For the greatest comfort, greatest freedom next to wearing nothing! A reol bra, with adjustable back and fi-berfill-lincd cups, built onto a Crcpcset nylon slip non-clingy, and designed for step-in case. White. A Cr cups, 32 to 36.

8.00 stcmbach'i corjeti oil itores Pit i lik tit Mr. Goldberg has been "most cooperative with officials during the past few weeks since the transfer of the funds was discovered. Author, Niece Fouiul Dead in Atlanta Home ATLANTA Ga. Writer Lillian Barker, and her niece, Marion M. Transou, were found dead in Mrs.

Transou's home last night. Police said they apparently were victims of carbon monoxide fumes from a defective furnace. Miss Barker was the official biographer of the Dionne quintuplets. She wrote "The Dionne Legend' as well as a number of mystery novels. She was writing another at the time of ncr death.

Quick reference to reliable craftsmen Directory of Services, classified section. new mirnrls our little cor hnoiiy soy clutch pedal. this new ingrs- k. 'Jew tastfoimg relief tf left ffeef. 1 4 A A Chartered supervised by WtT: rm Thnnk In ingredient in I "4 II .1 Life begins at 65 at Ocean Federal Savings! If you're 65 or over and have a savings account here, we'll gladly issue you one of our GOLDEN 65 CLUB cards.

It entitles you to receive free money orders at either of our 2 convenient offices. All you need do is present the card. It's just one of the many special senfees you'll find at Ocean Federal Savings serving the needs of Ocean County savers for over 65 years! IT PAYS TO SAVE AT OCEAN FEDERAL, T00f cauea me ouiomonc such i i i. ii shitt, you con aoodbve to the How does dienl work? nm I wo ways. continuous unemployment for your left foot.

provides nearunemploymentforyourrighl hand. you ever shifl is when you go over 55 mph.) with its bug continues to uphold small amounts of oil. Absolutely no no antifreeze. it tlil! delivers oboul 25 miles to gallon of gas. Come Meet Miss "Sandy" She will be modeling the Real Bra Slip as well os other Youthcraft girdles and bras.

Tuesday, October 8th, in our Asbury Park store 1 (6) FEDERAL SAVINGS AND LOAN ASSOCIATION leel relieved already? East Toms River Neptune Walshak fr Dillon, Inc. Volkswagen Park Shore, Inc. POINT PLEASANT OFFICE: 7 01 Arnold Avenue Point Pleasant Beach, N. 1. 892-33SO BRICK TOWNSHIP OFFICE: 321 Chambers Bridge Rd.

opp. Brick Plaza, Brick Town, U.J. 477-5151 Routes 33 66 Highway 37 BOTH OFFICES OPEN DAILY 9-3; ALSO FRI. TlSTMilfiTSTJ triffirnTTTrtwaimriTTmiTr rt i :Wrf.WJ rm JkUfHO'ltC IAUI .1 'ri. -TTT7 TT 1 I II steinboch's, press plaro, osbury parK brood street, red bank, open Wednesday and fridoy till 9 p.m.

brick town shopping center open monday thru friday till 9 p.m., Saturday till 6.