The Daily Register from Red Bank, New Jersey on November 28, 1961 · 3
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The Daily Register from Red Bank, New Jersey · 3

Red Bank, New Jersey
Issue Date:
Tuesday, November 28, 1961
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4. - 4 Successful Investing Investment Gub Confuses Growth With Speculation By ROGER E. SPEAR Q.We are a group of Army Reserve officer who have formed an investment club. Our aim is growth, but 10 far we havnt had much success. At present we own McCrory, Butova, Riddle Airlines, Sea-grave, Talley Indus tries, Television Industries, and Chemical Natural Resources, nearly all at higher prices. What should SPEAR we do to get bade on the right track? BA A. I think youre going to have to modify your approach. Many investors tend to confuse growth stock programs with hit-or-miss speculation. While most good growth issues are by nature rather volatile, there is a wide Profit-Taking, Tax-Selling Day On Street NEW YORK (AP) - Crosscurrents resulting from year-end profit-taking and tax-loss selling dominated the stock market yesterday, pulling this Issue up and pushing that one down. Of 1,315 issues traded, 572 rose and 535 fell. with 95 new 1961 highs and 15 new lows. The Dow Jones average of 30 Industrials ended with a loss of .81 at 731.99. ' Ford finished with a net loss of 24- Electric Autolite closed off . Jones & Laughlin rose 1 and U.S. Steel & Chadbourn Gotham jumped to the top of the most active list with sales of 127,300 shares compared to 14,200 Friday. The Hosiery and clothing firm rose 1 to 84. San Diego Imperial was second most active, declining 1 to 20 on 108,500 shares, wh'le Zenith rose 3 to 80 on 88,000 to place third. Next came McCrory, up 1. Yesterdays Closing Stocks: gap between them and the seem ingly cheap stocks which for one reason or another are believed to have big profit potentials. My advice is that you alter your clubs policy so as to rebuild your list with quality stocks that have demonstrated growth characteristics. I suggest that, you hold McCrory, Butova, and Seagrave; and that you take advantage of any market strength to reduce gradually your bolding of tiie remaining issues. As additions, I would consider only the stocks of established companies which have alert managements, a strong product line and a steady pattern of earnings gains. Tractor Supply and Emer son Electric are two excellent examples, and with some study, Im sure youll be able to recognize many more. Q. Tve heard that in some states Its possible to buy stocks for children who are under 21 years of age. Is this true? J.K. A Yes, in many states it is. In 1957, the New York Stock Ex change sponsored and promoted a model law which made the giving of securities to minors relatively simple affair. A refinement of the law has been enacted in a number of states and is known generally as the Uni form Gifts To Minors Act 1 suggest that you ask your local broker for further details. Hamilton Fish To Be Guest Of Retired Officers FORT MONMOUTH Col. Hamilton Fish (ret), president general of the Order of Lafayette, will be guest of honor and speaker at the Retired Officers Association dinner meeting at Gibbs Hall Thursday. RED BANK RECISTER Tuesday, Nov. 23, 1961-3 Bluebirds Sell Candy RARITAN TOWNSHIP A candy sale was planned by the Bluebirds of Happiness at a meeting at the home of Mrs. Joseph Ready, 21 Michigan Ave., Haz-let. The sale is being conducted to help defray expenses of compulsory insurance and projects planned for the year. Mrs. Ready, leader, announced that one of the projects for the year was the donation of $10 toward the beautification program at the Middle Road School. All members of the Bluebirds attend the school. Mrs. Robert Hipwell, president of the Middle Road Parent-Teacher Association, and Vincent Finnelli, principal, accepted the donation, which was made by Mrs. Ready. The group is working on arts to be sold at the Christmas bazar sponsored by the Middle Road PTA Dec. 2 in the school. Pays $205 Fine, Loses License NEW SHREWSBURY - Lloyd Coleman of West Orange paid a $205 fine In Magistrate! Court yesterday for drunk diving, and had his drivers license revoked for two years. Robert Mansfield of Farming-dale and Raphael Du twin of Irvington each were fined $10 for careless driving. Also fined were: Alphonso Lan-kone, ' West End, $10 for delinquent Inspection of motor vehicle, and William C. Johnson, Eatontown, $8 for having no drivers license in his possession. ' ii i - -111.111 i A Egg Market NEW YORK (AP) -Wholesale egg offerings adequate on large; ample on mediums and very light on smaller sizes. Demand ranged from very light to moderate yesterday. New York spot quotations follow: Mixed Colors 1 Extras (47 lbs. min.) 364-3; extras medium (40 lbs. average) 28-29; smalls (35 lbs. average) 25-26; standards 34-35; checks 29-30. - Whites Extras (47 lbs. min.) 364-38; extras medium (40 lbs. average) 30-31; top quality (47 lbs. min.) 42-46: mediums (41 lbs. average) 31-33) smalls (33 lbs. average) 26-27; peewees 21-22. , Browns ; "Extras (47 lbs. min.) 38-39: top quality (47 lbs. min.) 40-42; mediums (41 lbs. average) 31-33; smalls (38 lbs. average) 26-27; peewees 21-22. Hamilton Fish As a member of Congress for 25 years from the Hudson River District of New York, Col. Fish figured prominently in national news in post-World War I years. He was chairman of the first congressional committee to investigate Communist activities, and was ranking Republican member of the Committee on Rules and on Foreign Affairs, He authored the bill to bring back the body of an Unknown Soldier, which was the last bill signed by President Woodrow Wilson before his death. Col. Fish started his political career In the New York state legislature, where he served three years as a follower of Theodore Roosevelt He was chairman of thfc Committee of Three that wrote the Preamble of the American Legion. The Order of Lafayette Is com prised of officers who served in France or French possessions in World Wars I and IL Col. Ora F.- Robert, (ret.) of 15 Wesley St., Monmouth Beach, Is chapter president men ants mmm owBwm count vumo truer PROPOSED INTERCHANGE AT RED HILL ROAD taro muse sa&v name NEW INTERCHANGE This is an interchange plan which the New Jersey Highway Authority proposts te build on the Garden State Parkway at Red Hill Rd., Middletown. About one-half of the traffic expected to use the new interchange after it opens late next year will travel westward to the new Bell Telephone laboratories, Holmdel. -C ' v u . , aNjr. V ' e,1 Xr,t' ' s A," 'Avy- t zyv'f- - dksfiuupta ' the iktzdM: LOCAL SECURITIES The following bid and asked quotations, from the National Association of Securities Dealers, Inc., do not represent actual transactions. They are a guide to the range within which these securities could have been sold (indicated by the bid) or bought (indicated by the asked) at the time of completion. BANKS Asbury Park Ocean Grove (adj.) Belm&pWail Natl Central Jersey Bank 1 Farmers & Merchants First Merchants National Bank First Natl, Freehold Keansburg-Middletewn Long Branch Trust Mata wan Bank Monmouth County Natl New Jersey Trust Peoples Natl, Keyport Sea Bright Natl I INDUSTRIAL Alkon Industries Brockway Glass --Bzura Chemicals Electronics Associates Hanson VW-M International Flavors A Fragrances Laird A Company Monmouth Park N. J. Natural Gas to N. J. Natural Gas Pfd. .Trad Electronics U. S. Homes and Development Carp. (x) Plus 2 stock dividend (xx) lxx) f per cent stock div. W6I J5 Cash 3 stock v . ' J? Catholic Young Adults To Elect NEW MONMOUTH The Northern Monmouth County Catholic Young Adult Club will elect officers at a general meeting Wednesday, Dec. 8, te St. Marys Church Hall, Leonardville Rd., at 8:15 p.m. Nominees for the office of president are Michael Fanuele, Pat Ramplno and William Van der Meer; vice president, Catherine Seigfried and Ann Ravito; recording secretary, Beth Finnegan and Antoinette Caviglia; corresponding secretary, Patricia Flynn and Chins Kutschman, and treasurer, Eva Seigfried and Rae Torchia. The chib will hold a dance Saturday at the Paddock Lounge, Long Branch. Music is by the Merrymakers. An ice skating party will be held at the Casino, Asbury Park, Thursday, Dec. 7. Grade School Presents Thanksgiving Program LEONARDO The Leonardo Grade School recently presented its annual Thanksgiving program in the school auditorium. The theme of the program was Thanksgiving With A Reason. Each of the six grades and the morning kindergarten presented short individual programs to illustrate the theme. The presentations were choral poems, group songs, short plays, readings, an Indian dance, and piano solos The entire program was arranged by Mrs. Betty Giaimo, fourth grade teacher. Mrs. Alma Miller, kindergarten teacher, assisted in the musical selections. RAYCO OFFICIALS Michael Kresch, left has been named permanent manager, and William Sontag, assistant manager of the Eatontown outlet for the Rayco chain. Kresch has been with the company eight years and was formerly supervisor and instructor of sales training division for store manufacturers in auto accessories business more then 20 years. Sontag, transferred from Rayco's store at Canton, Ohio, has bean in the credit field nine years. Rayco, owned by B. F. Goodrich, features seat covers, mufflers, shock absorbers, safety belts auto tops end Goodrich tires. Honorary Trustees Named by College WEST LONG BRANCH Four shore area men who retired this week as trustees of Monmouth College have been named honorary trustees by the college board. The new designation entitles the mm to attend all meetings, participate te deliberations and hold piembership on board committees. The men are Dr. William M. Smith of - Long Branch, Milton Erlanger of Elberoa, Thomas B. Harper of Belmar and Harry R. Vogel of this place. Their retirement follows a recommendation Lights On FREEHOLD Mayor Frank Gibson flicked the switch that turned on the business areas Christmas lights at a brief ceremony on Friday. There are 21 strands of lights displayed over Main, South, and Throckmorton Sts. HEALTH CAPSULES by Michael A. Petti, M.D. CAN EYE. CATARACTS BE P1SSOLVEP ? Silly, I Open House Is Staged At Schools HAZLET Following open house at all Holmdel Township schools fast week, there was business meeting of the Parent-Teacher Association at 9:15 p.m. in the elementary school Mrs. Edward Walke, membership chairman, announced that there are 158 paid-up members in the organization. Christmas gifts will be donated by members to be distibuted to needy-children in the township. Mrs. Kenneth Willey, parent and family life chairman, announced the next of a film series Individual Differences and "Families First is set for tomorrow. Mrs. Joseph Campbell, ways and means chairman, said the recent fashion show and card party was a success. There were 230 tickets sold. Mrs. Campbell thanked the women who sewed and modeled the clothes, and committee members Mrs. William Becker and Mrs. Harold Braun, decorations; Mrs. Robert Hom-berger, Mrs. Walter Bruno and Mrs. Walter Sutphin. prizes; Mrs. William Freyer, fashion show; Mrs. S. A. Robinson and Mrs. James Vam Vakas, publicity; Mrs. Thomas Parker, refreshments; Mrs. George -Klnkade, tables, Mrs. Wallace Taylor and Mrs. M. H. Uglesich, table supplies, and Mrs. Walter Reil and Mrs. Peter Genovese, tickets. "Kindergarten mothers were hostesses at the meeting. The next meeting of the PTA will be Tuesday, Dec. 12, at 8 p.m. in the elementary school, Holmdel. Miss Sonja Kara, will direct a program of Christmas music, it was announced by Mrs. Charles Pfeiffer, program chairman. The next executive board meeting will be Dec. 7 in the elementary school. . from the Middle States Accrediting Association stipulating that trustee over 70 should be retired. Their terms of office would otherwise have expired between 1962 and 1964. Two of the trustees. Dr. Smith and Mr. Harper, were part of the small group that founded Monmouth Junior College te 1933. All four took part in the change from junior college to four-year institution te 1956. Dr. Smith, former superintendent of schools of Monmouth County and later of Long Branch, holds a record for service as chairman of the board. He took the helm te 1933 and held it 25 years. Mr. Erlanger has been a large contributor te the drive for funds for the college. One of the jobs hell continue to hold Is chairman of the buildings and grounds committee. Thomas Harper, another former county superintendent of schools, has been vice president of the board. He was acting chairman during 1958-59 when Mr. Smith was ill. Former textile executive Harry Vogel was secretary of the board prior to his retirement. A former West Long Branch councilman, he has played a major role te college-borough relations. Evacuate Tower In Bad Weather WASHINGTON (AP) - The Air Force has been evacuating Its radar warning towers te the Atlantic Ocean whenever a forecast warns of winds of about 57 miles an hour or more. The policy is believed to stem from the collapse of one of the towers, off New Jersey, last January, although Air Force sources did not say so. Standing in open sea, the three-legged Texas Tower buckled during a violent storm and collapsed, dragging 28 men to their deaths. The towers, part of the air raid warning system, are designed to withstand wind up to 125 mph and 35-foot waves. Teacher Scale Is Adopted ATLANTIC HIGHLANDS-The Board of Education last night adopted teacher salary guide which makes it one of the highest paying school districts te the Bay-shore area. The new guide features $400 Increases at the minimum level in al degree categories and a $300 boost at the minimum for nondegree teachers. The 13-step guide, which would go Into effect te 1962-63, has a range of $4,400-57,000 for non-degree teachers; $4,700-$7,300 those with bachelors degrees; $5,000 $7,600 for masters degree and Its equivalent and $5,300-$7,900 for the doctorate and its equivalent. The cuirent 12-step guide has ranges of $4,100-$6,800 for non-degree; $4,300-$6,775 for bachelor degrees; $4,600-$7,300 for master's degree and $4,900-$7,800 for the highest level. The salaries would apply only to grade school teachers. The local system will In cude only kindergarten through sixth grade te September. The Henry Hudson Regional School, scheduled to open te September will include grades 7 through 12 for both Atlantic Highlands and Highlands. Saunders Comments Dr. Carieton M. Saunders, su perintendent, said that the number of grade school teachers next year will be increased from 13 to 18. Dr. Saunder congratulated the board on its salary guide adoption. He said it would attract outstanding new teachers and repay many of the excellent teachers now employed." He called the guide comparable and competitive to any in the county. William C. Baumann of Vogel-bach and Baumann, Scotch Plains heating consultants, spoke to the board about the proposed renovation of the schools heating system. Mr. Baumann estimated the total cost of the work at $30,000, which includes replacement of the buildings two boilers. Expensive Program Board members voiced the opinion that repair of the heating system was needed but doubted the advisability of entering into such sn expensive program. The board held the matter over for further study. In other business, the board: Hired Mrs. Carol Bellows, Rumson, as school psychologist Established policy for the duties of school nurse end medical inspector. Voted to pay Charles J. Hesse, Belford contractor, the remaining $344 of his biU for blacktopping the school yard. The sum had been withheld from Mr. Hesse for several months because of a low spot te the topping which he had not repaired to the boards satisfaction. CPL. CLAYTON AT SEA NORFOLK, VA. Marine Lance CpI. Robert M. Clayton, son of Police Chief and Mrs. George H. Clayton, 1S8 River Rd., Red Bank, N. J., is serving, in the Atlantic aboard the guided missile cruiser USS Little Rock, operating out of Norfolk. The Little Rock recently participated in a joint communications exercise named Axle Grease II with commanders of Navy, Army and Air Force units. Power Shift May Take Place SANTO DOMINGO, Dominican Republic (AP) Opposition leaders, backed by a threatened general strike, demanded last night that President Joaquin Bal-aguer accept a provisional government immediately te a power shift that reportedly would hand the presidency to the opposition National Civic Union. According to purported copies of the Civic Unions demand, the presidency would go to Viriato A. Fiallo, head of the party. Copies of the proposal reached newsman early today but their authenticity could not be determined Immediately. Under the proposal, Balaguer would appoint Fiallo secretary of state for the armed forces, temporarily replacing Gen. Pedro Rodriguez Echavarria, who would become air force chief of staff. Balaguer would then resign and Fialo, next te ine of succession, woud assume the presidency. Parkway (Continued) new Interchange to average $38,477 over a 30-year period The revenue will include tome losses at other interchanges now used which motorists will abandon te order to use the Holmdel-Middletown Interchange. Mr. Kohn said estimates indicate a reduction of an average of 1,100 cars daily using tha Red Bank exit onto Newman Springs Rd. The one-third Increase in the exit toll there, he . said, is expected to offset the reduction In the number of cars. Engineering Study The engineering study Indicates that during 1363 an average of 2,247 car will use the new interchange daily. About half of these motorists will be employees of Bell Telephone, he said. Revenue from Bell Telephone employees using the Interchange Is estimated at $15, 440, Mr. Kohn said. He said there will be about 2,500 employees at the new laboratories by 1363. - Parkway officials said that aome additional right-of-way will hav to be acquired in order to construct the new inters change. Mrs. Whit said the oft-used though not authorized entrance end exit at Telegraph Hill will be closed to the public 'aa oon as the new interchange is completed Mayor Lawley qualified his approval of the new Inter change with a request that the Highway Authority assume the expense of extending Dwight Rd (or the extension of Nut-swamp Rd) to connect with the northbound lanes of the parkway. Official to Meet He and parkway officials said they would meet in the near future to discuss Middletowns request Mrs. White said the Red Hill Rd site for the Interchange had been determined as "most feasible ... after long and serious study. Soma residents and officials In Holmdel had eooght to have the Interchange built at Dwight Rd.. but parkway officials said such plan would have made the entire project economically unfeasible. Holmdel Mayor James R. Ack-erson said his municipality j very grateful to get this" new Interchange. Goldsmiths View Bernard Goldsmith, Holmdel Planning Board chairman, said he thought's majority of tb dally user of the aouthbour' anes of the parkway still wouV ns the Keyport exit to get to Hr Bell Telephone laboratories, bo parkway and other county ano municipal offidali tended to discount this Idea. E. Donald Sterner, chairman of the county Planning Board, said of the proposed Interchange. "This is what weve been recommending for a long time. Were delighted that it's com to pass. Mrs. Whit said the cost of the interchange would be financed from the parkway's general improvement fond. While tha authority expects to average $88,000 in revenue over a 30-year period, revenue In 1363 is estimated at $59, 214-taking into account aome decreases at the Red Bank and Eatontown Interchanges. New Toil Patter First year operating expenses are estimated at $33,500, leaving a net profit of $35,714. D. Louis Tonti, executive director of the parkway, said the additional five-cent toil at the Red Bank exit is needed to establish a realistic pattern of toll charges. The new toll pattern will be: 10 cents at Holmdel; 15 cents V Red Bank, and 25 cents at Eatontown. Southbound cars leaving the new interonange to travel to the Bell Tel labs via Crawfords Corner Rd. will have a trip of just under one mile. Motorists learn the northbound lane to go to Rt 35 will have a journey of abut 2 miles via Middletown Village. State Post To Grossman TRENTON (AP) Richard A Grossman of Lakewood w s sworn in as a state deputy attorney general yesterday. Grossman, a Democrat, lost his bid for a seat te the atat Assembly when he wsj defeated by Republican William T. Hiering of Toms River three weeks ago. Grossman, of 223 Courtney Rd., Lakewood, will aerv aa an as sistant Ocean County prosecutor. Attorney Gen. David D. Furman Administered the oath to Gross-man. Deputy Attorney Gen. William H. Huber, acting Ocean County prosecutor, held the Bible. Join Reserves At Naval Depot EARLE Seaman William D. Rugg, Jr., 265 West End Av., Long Branch, and Seaman Recruit Henry M. Pieszcynskl, Laurel PI., Eatontown, have joined the Naval Reserve Electronics Division at the Naval Depot here. Rugg, a graduate it Long Branch High School, is employed by Electronics Associates te Long Branch and Is a holder of a second class radio-telephone license issued by the Federal Communications Commission. Pieszcynskl, a sophomore student at Monmouth Regional High School, resides with hit parents, Mr. and Mrs. Henry Pieszcysnkl Both men will attend drills at the Nava! Reserve training facility here each Monday and, after an initial period of Naval Reserve orientation, will receive training te an electronics field during the drills in preparation for two-year tours of active duty in the Navy. ' Barra dale Promoted NEWARK Eugene W. Birra-dale, 18 Maplewood Dr., New Monmouth, has been promoted from engineering assistant to assistant engineer, mechanical division, electric engineering department, Public Service Electric and Gas Company. He started with the company July, 1948, in the Essex Division, electric distribution department, and was transferred to the electric engineering department, general office, te May, 1955. Mr. Barra dale was recently swarded a bachelor of science degree from Rutgers University. He is continuing his studies. Housekeeping BEVERLY HILLS, Mich., (AP) Police to this Detroit suburb are looking for a burglar who took enough loot from an apartment here over the week-end to set up housekeeping on his own. The loot, valued by police at almost $5,000, included: A toaster, several chairs and table lamps, blankets, sheets, towels, silverware and several bottles of liquors and wines. C7UCSS Who is having a going-away party. i i

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