Redlands Daily Facts from Redlands, California • Page 9

Downtown Redlands FURNITURE APPLIANCES TELEVISION WEEK-October 20-25 Mining seen as great factor in solving ills Redlands Daily Facts Monday, Oct. 20, 1969 SAN FRANCISCO (UPI)The mining and mineral industry can do more to alleviate poverty and hunger and achieve peace than any other force in the world, an Australian official said today. Charles VI. Court, minister for industrial development and the North West. Perth, Western Australia, spoke at the 1969 convention of the American Mining Congress.

To back up his claim for the vital achievements possible by exploiting natural resources, Court cited his own experience in a development program "in one of the more challenging areas of the world." "In a few short years my home state has been projected from stagnation to the fastest growing state in Australia." he said. "We arc now experiencing unprecedented expansion in every sector of the economy- farming, mining, manufacture, commerce, personal buying power growing at a rapid rate. "This is no boast, but a simple illustration of what can be achieved by a Cinderella decides to convert its dormant natural resources into something real and lively." Court pointed out that the problem of containing a world population that will double in 30 years and raising living standards to an acceptable level presents a challenge to the resourcefulness and knowledge of man. "I feci impelled, therefore, to tell the developing nations in particular, if they really arc interested in banishing can be achieved through the generation of economic growth." he said. "The 'revolution of rising expectations' has brought with it an acute awareness of what on the surface appears to be an uneven distribution of wealth among nations.

"Yet the Creator must have been a great believer in decentralized economic opportunity. "Why else would the world's mineral wealth and agricultural potential have been spread so far and wide and in such inaccessible places for all to develop if they had the will and the way?" Given the opportunity, he told the Mining Congress members, their industry "can do more to alleviate world poverty, hunger and human misery, more to close the widening gap between advanced and developing nations, and more to achieve international peace and understanding than any other single force in the world." "The miner, the industrialist, the trader, the financier and the they play their role do more to achieve world understanding and peace in a generation than the politicians and diplomats could do in a hundred years. "Why? Because they are closer to reality, closer to their opposite numbers, closer to the community in the countries where they operate. "In other words, they have to io more with real people than with institutions." Court told the assembled industrialists that present opportunities for economic growth are "something more vital and satisfying than merely earning a living and servicing capital and getting rich. "It is a great human mission.

Be as lough, efficient and successful as you like. But in the end result, if your labors do not benefit real have failed and have labored in vain." Personal finance lest stocks buys myth by computer By CARLTON SMITH and 1966. periods rebounded the RICHARD PUTNAM PRATT most in the next six months. The trouble with conventional The group hit the hardest in the wisdom is that it's almost al- 5 2 decline, for example, had wavs an av gain of 1" per cent Whether Tt 's such rural lore 'he six months after June of as "lightning never strikes ulat ear twice in the same place." or Tn 1966 market slide pro- citv-slicker talk like "vou can't vidc corroborating evidence, fight citv hall." there's every That year, the group that possibility that a little investi- dropped the most rose an aver- gation will prove the opposite a of 405 er cent in tne SK lrl months that followed September Apparently what's true of the of tnat car rest of the world is also true Tne bo al Palne Webber of Wall Street, which harbors certainly qualify as the most more than its share of such eccnt myth-deflators, but they savings The latest to be dial- are onl extending an estab- leiiged is. "The stocks that hold llshed ln hls book How up best in a market decline are to Buy Stocks." Louis Engel de- the best buvs for the follow- votcs a chapter to debunking ing upswing." common sayings that he consid- crs dangerous guides.

Here are upswing. Thousands of butchers, bakers and little old ladies may believe that but the brokerage house of Paine. Webber. Jackson Curtis doesn't. At least, not any more.

Using its trusty computer to a few: Buy Them and Put Them Away Engel points out that if you had been an early investor in auto stocks, this piece of advice could have ruined You'd have been in good sludv the price patterns of 800 he wrote, if you had bought and 1 nrks hp hrnkprase house has a stocks, the brokerage house has developed a line of thinkin held GM shares. But in those i i. davs it was Stutz Bearcat stock tnat opposes tne common neiu ftat lMked hQt an(J you'd have lost your shirt on that one. You Never Go Broke Taking 1 assumption. Here's how they did it: They ranked the stocks in five groups, according to their prices a Proflt The author doesn't changes, ranging from those den this obvious trulh but su that held up best lo those that ests that 11 ls n0 substitute for, slumped the most in the mar-Judgment.

He points out that if ket slides of 1962 and 1966. had bought 100 shares of IBM in 1914, you could have They found that those which it. ji- sold at a good profit in 192o. fell the farthest in the March- 1QC1 But if you held on until 1961, June, 1962, and June-September, investment would have been S7.2 million. Cut Your Losses Quickly If sell at the first quiver a I stock makes, Engel states, you are likely to be reacting to false signals.

The quiver may be i caused only by a big block sold BAKERSFIELD (UPI)-A to "I 36 cfash that has nothing to do with the fundamental value. Kidnap victim in fair condition year-old Los Angeles woman was in fair condition today at: oc Kern County General Hospital after being kidnaped, beaten and robbed of S650 in cash and a S400 check, during the weekend by a knife-wielding man. Mrs. Grace Nakashima, who said she was abducted from "an underground garage in downtown Los Angeles Saturday evening, was released on a lonely road 20 miles southwest Five killed in plane crash near Banning BANNING (UPI) The bodies of five persons who died in the crash of their twin-engine plane near here, were brought of here Sunday and made her'to a mortuary Sunday. The way to a farm house to ask fori Riverside County sheriff's of- aid.

fice said the plane hit a She told police her abductor mountain near Kitehing Peak at carried a knife and forced her the levei late Friday into her car and drove afternoon. Killed in the crash The-incident occurred as shei were Frank Sherman, 40, a real was leaving her job at ani estate man from Palm Springs, import firm. She described her his wife, Belva Lee, 37; Robert assailant as from 35 to 40 and Edwards, 40, Mira'este, said he spoke with a Texas and his two daughters, Lisa, 15, accent. 1 and Mona, 13. see 1970 color TV during MAGNAVOX WEEK Now.

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