Northwest Arkansas Times from Fayetteville, Arkansas on October 13, 1974 · Page 35
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October 13, 1974

Northwest Arkansas Times from Fayetteville, Arkansas · Page 35

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Fayetteville, Arkansas
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Sunday, October 13, 1974
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Page 35
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Northwest Arkanto* TIMES, Sunday, Oct. 13, 1974 · 3A rAYITTIVILLE, ARKANSAS / Few Smiles Today Trust Tested On Wall Street -· By JOHN HARBOUR '..'. NEW YORK (AP) -- Wall ;,Street, almost everyone is too practical to say, is eight, blocks ~and a million dreams long. It begins at Broadway Trinity where Church on Alexander Hamilton is buried and ends at the East River, Mafia cemetery. a sometime hill er. Wall Street is one-way, down- from the church to the riv- But in a larger sense, Wall Street spans the nation. It reaches into pocketbooks and safe deposit boxes from Kennebunkport to San Clemente. - 1 There are few smiles on Wall _. Street today. The Dow Jones r averages have 'been falling, almost without interruption, since '· January, 1973. · And in the hustle of the spc- ; cialists on the floor of the New I York I nuiet thing you pick up shows a deterioration of the economy . .. Instead of a turn in interest rates which we would have expected by now, an end to Watergate which we would have expected- by now, buried and finished, and an aggressive fight on inflation, we have maybe some fight on inflation and none of the other problems solved." RECURRING THEME That is the recurring theme on Wall Street. That and faith that things will get better, although some brokers can't on't want your product. Andj '.halt's t o u g h . . . . " Blank, 36,'says he had never naile under $50,000 a year. But n Ihe first six months of this 'ear lie made only $8,000. "No matter what you say it's i comedown when you have certain expenses to pay." And o add to his problems, he he- ievcd in the stocks he was sell- ng, so he bought them himself. And they went down. Blank is taking a new 'job selling industrial real estate. wait. Arthur his small store cards, put his Blank II packed up of business ovcr-eleganl Stock Exchange, in the concentration of b'roker- ; age offices; in the restrained · seventh floor' member's lunch; eon club, in the razzle-dazzle service of Eberlin's Restaurant J a block away, the recurring ex- I planalion is as much political i as financial. , How could the great Amerl; can public have lost faith in 1 great American institutions? ·; Inflation, tight money, high ; interest rates, Watergate credi- · bility, a President who did the unthinkable, another who par- « doned the unpardonable, all of I these things weigh on thhe spir- . its of men who live with the ; public confidence. SEATS SELL CHEAPLY ; The 1,366 seats on the New · York Stock Exchange are sell'. ing for $66.000, against a mod- '· ern high of $515,000 six years · ago ....... and ominously the all' time high of $625,000 In 1929. ,' There are only 514 member ; firms to deal with the public, name plate in his out baskel and walked away from the black screen with the green- glowing numbers where the market prices of American firms' parade one after another "The reason I'm. leaving the business," he says, "is that I don't enjoy it anymore. The fun of meeting new people and nev ideas, and selling yourself i: gone. I've been in this busines: 10 years and it's like starting all over again with people wh ie says it guarantee him (50,000 a year. But he remembers the glory days of Wall Street: . HAD TO GET OUT "The best thing I liked was ... I could work from seven to seven and not know what time it was. I'd come, home, and I couldn't wait for the next day tc slart. Maybe I'-m an idiot more than I'm smart. But J had to get out before I did something drastic like (puts his index finger to his temple; blow my head off." His voice breaks as he says this, 'and he adds, "I felt so de pressed at times that I was los ing people money, and did- no understand the reasoning be- lind why they were losing money." But most of Ihe brokers are sticking it out,' Ronnie Hur- 'ord is 28, although the once .iterative job as a commissioned broker now offers considerably less. Steve Unger's take home pay is off 10 per cent. Gene Lampel's is down 40 to 45 per cent. Some are h u r t even more. Mostly they scale down their living. The temper and nature of the business has changed. Brokers now xiffer a broad mix of investments. Steve Kraus, whose Park Av- enu~e branch employs about 50 brokers, say's, "I think things are going to be very different in the next five years. I think we are deep in the trough of a market slide . . . We may go deeper yet. But somewhere in the next several months we might hit bottom." In the meantime, the mood of Wall Street is to survive, muddle through, brave it out, adjust to today, hope for tomor- Foreseen By Next Summer Area May Get Health Education Center · the lowest ; late 1800s. number since the The Dow Jones average lias · dropped from a high of 1,051.70 ; on Jan. 11, 1973, to the low 600s ' today, rut/Ding out more than ' S2CD-bi]lion in the value of Big ; Board stocks alone. Seven thou; sand brokers have left the business. ; Eugene Lampel is 52, 18 · years a stock broker. His | words: "Pretty horrible. I've · never seen anything like it. Not '. for this period of time, this de- ~gfee of bearishness. You can't · really find words on how badly people have been hurt and how badly they feel." Sol Ellman is 51, his income in six figures in his prime. His words: "A demoralized public and market. I've been around for 25 years and I've 'never seen anything like it. We've had stocks drop .50 ,60, BO per cent in price. To use a cliche, it's basically a credibility gap. The people just don't oelieve." Now the men and women who used to tout stocks are talking of total asset management, in- ; -novative investments, helping a · client's capital keep pace with ~the inflation -- a waiting game '·-'until the stock market bottoms ^out. The fittest are determined Mo survive. DISCOURAGEMENT Fayetteville stand a good chance of getting an Area Health Education Center. (AHEC) which may be operational next illume r. A report on the progress of :he development of Area Health Education Centers by the University of Arkansas Medical Center was made by Dale Ducote, acting administrator of Washington Regional Medical Center, at a meeting this past week of the Washington County Health Advisory Council. Ducote said the Fayetteville facility is envisioned as a model family practice center and will be the fourth center in the state. Centers, which extend the facilities of the Little Rock Medical Center into the rest of the state, are in operation at Pine Bluff, El Dorado and Fort Smith. The concept of expanding the production of professional health manpower was developed to meet the health needs of the state by establishing opportunities for medical ersidents a n d interns. In, the past there were only 50 internship positions in t h e state. The total number of first- year training positions available n Arkansas is approximately half the number needed to accommodate the doctors now graduating from the University of Arkansas School of Medicine. One of the primary considerations in establishing these educational centers is the fact that roung physicians are frequently nfluenced to establish practice in the area where they have director here. The Search Committee is composed of Dr. James Patrick, Dr. Joe B. Hall, Charles Sanders, Dr. Tad Morgan. Fred Hndricks, and Dr. R. Fairchild. Ducote said that while the local AHEC is initially planned as a residential training center, primarily in family practice, it date senior medical students in other specialties. Ducote said the medical profession in Northwest Arkansas is active in developing the center and views AHEC as a positive approach of solving the health care delivery in the irea. The location of the proposed is expected to grow to accomo- center has not been determined. Red Cross Plans Training Courses In Water Safety T .Steve linger ·;years on Wall is 31, three Street's firing ;line, an emigre from the oil in- ^.dusiry, now an ardent disciple ··of total asset handling. His » words: ·' "Discouraged? Well there are ·'times of course when every- I'thing looks black. But I'm not a quitter. I sort of put it in the back of 'my mind and go ahead . . . If you look back you're sunk." Steven Kraus, a vice presi- ; dent of Paine, Webber, Jackson ' and Curtis, says, "The pur- ; chase of common stocks is real;- Jy a bet on the future j You're talking about confidence ^ factors, credibility factors . . . .' Now a few weeks ago we fig: J ured Watergate was a dead is! sue. We had a new President, 1; looked to be Middle Western, ; square shooter, Boy Scout type ·and would address severely and j critically the inflation prob- ;lems. Then you had a pardon 3 two weeks ago that destroyed ? that image . . . ! "Inflation gets worse. Every- A program of re-training for Red Cross water safety instructors (WSI) and instructors of beginning swimmers (IBS) will be held in Fayetteville in January and students are asked to register before Nov. 1. Mrs. Beverly Melton, water safety chairman for the Washington County Red Cross Chapter, said that all current Red Cross WSIs and IBSs must take the training in order to be authorized to teach. "Several years ago the Red Cross up-dated its swimming strokes and teaching of techniques is again being undertaken. Old techniques are being received training. Dr. Lee Parker is chairman of the local AHEC Advisory Committee, which is now conducting a search for a medical skills, and this new swimming Art Exhibit Open From 50 to 60 University ol Arkansas art students currently are participating in an exhibit in the Arkansas Union Gallery. Both graduate and undergraduate students, taught by Prof. Suorata Lahiri, have assembled a display of paintings, drawings' by advanced students, and sculpture, by both beginning and advanced students. The exhibit will be on display through Friday, Oct. 18. A spe- cia iinvitation to view the students' work has been extended to vistors who will weekend Baylor be on for the football campus this Razorback game and to the members of the Arkansas General Assembly attending the Legislative Week End activities. Adult Center Program Set Programs for the week ol October 14-19 at the Community Adult · Center at HUlcrest Towers are announced. Lou Treager will show slides of Alaska on Monday and Harrj 21ohecy, a humorous stor :eller will be guest performer Both programs are schedulec at 1:30 p.m. on the respective days. Other activities at the center include a worship service at J p.m. Thursday; game afternoon beginning at 1:30 on Friday and ballroom dancing at 7:3 p.m. Saturday. Anyone 50 years of age o o'der is invited to attend Further information is availabli by calling 443-3512. vised, new skills taught and ew concepts brought forward, he old texts are obsolete and .e new one includes the latest oncepts of swimming insrtuc- on. A series of 10 new films ealing with specific areas will e available," Mrs. Melton said. Interested persons are asked i register by calling the Red ross at 442-4291. Pre-regis- ·ation is necessary in order to iace the chapter order for ·xtbooks. The · order must be lade by November I. The classes will be held Jan. 1-12 at the University of r k a n s a s pool. Instructor ainers will be Ed Fedosky niversity swim coach and Irs. Melton. Big Top Alive LONDON (AP) -- The bottom as not fallen put of the Big 'op in Britain. The 1974 Circus Directory of le British Isles, issued with he circus magazine " K i n g 3 olo," lists no fewer than 40 roupes operating in Britain, 'hey range from the mighty raveling circuses to one which s worked by just two people. The magazine says it hopes liat the directory "will help in ersuading local authority ouncillors and officials, and nyone else with an interest, hat the circus is very much .live and kicking." FayeltevilleDrajt E.«ide Square «Z-73« AGE 32? I AGE 32! Look your age with Taylor Topper You owe it la yourself to look your best. All the time. Taylor Topper can help. Every one is custom-made to look and feel like your original head of hair. Learn how. f Taylor Topper, WWHO i UNCfSl MANUMCTUIIE* Of «»r«i mot iwiifiicisfot MCK Send today for the FREE 20 page brochure "THE FACTS ABOUT HAIRPIECES". No obligation, of course. TAYLOR TOPPER CO. 1107 WILDWOOD NO. LITTLE ROCK, ARK. 72116 PHONE 635-7222 Htm i Please send me, without obligation, the FREE 20-page · I brochure. I · Name I ( Address , City State Zip I Phone All inquiries confidential. I ( CHECK HERE n If yon would like (o earn good extra . money selling this famous top quality hairpiece in I Western andTforthwestern Arkansas. I ~*l T/ew Concept Jn Ylunmg ^M,me Cart 3100 Missouri Road Fayetteville, Arkansas 72701 Phone 52i-4353 Northwest Arkansas' newest and finest nursing home is now accepting residents. We offer facilities for retired, convalescent or intermediate nursing care residents. v Our staff is dedicated and well qualified to meet the physical, spiritual and social needs of each senior citizen. Perhaps unknown to many is the fact that the Arkansas Social Services may provide financial assistance for nursing home care where required. Whether assistance will be provided or not will depend upon the assets possessed by the individual concerned. In many instances, 100% of the cost has been underwritten by Social Services. If we may assist you in any way or provide our services for your loved ones, feel free to call upon us ......... Boston Store Many Unadvertised Items Throughout The Store Use Your Boston Store Charge Card Shop Daily 10 a.m.-9 p.m. Northwest Arkansas Plaza-Fayettevilie ALL WEATHER COATS Styleed with hood for rain or cold. Natural Cotton Canvas, pile lining. 5-13. Reg. 42.00 32.90 BIRDS' NEST MEN'S VESTED SUITS Outstanding values. All wool worsted suits in new Fall plaids, stripes and solids. Regular and'long. Reg. 165.00 129.00 FAMOUS NAME JEWELRY Tailored jewelry in gold or silver tones. Choose from chains, ropes, bibs, pendants, bracelets and earrings, both pierced and clip. Reg. 3.00 to 7.50 Now 2 for 5.00 FASHION JEWELRY BRAS and BIKINIS Famous brand lace bras and Bikini bras in both soft cup and underwire. BRAS, Reg.. 5.00-6.00 BIKINIS, Reg. 4.00-5.00 INTIMATE APPAREL 1.90 SHELTON STROLLERS Beautiful washable polyester dresses in newest fall styles and colors. 8-20. \1Yi- 24V 2 . Reg. 34.00 19.90 DRESSES QUILTED ROBES Vanity Fair robes in nylon tricot, satin trim. Pink Champagne, Wedgewood Blue, Red Plush. 8-18. SHORT, Reg. 18.00 13.95 LONG, Reg, 26.00 19.95 INTIMATE APPAREL HANDBAG SPECIALS Vinyl handbags in Swaggers, Totes and Shoulder Bags. Beige, Brown, Black, Navy or Camel. Reg. 16.00-20.00 HANDBAGS 10.90 SHIRTS and PANTS Mix and match. Shirts in Polyester and jersey. Beautiful patterns. Solid pants of polyester and acrylic. 8-20. SHIRTS, Reg. 16.00 PANTS, Reg. 16.00-20.00 SPORTSWEAR 9.90 KIKI BRIEFS and BIKINIS Choose from tailored or lace-trim styles in White, Pink, Blue, or Yellow solids and florals. Briefs, Sizes 5-10, Bikinis 5-7. Reg. 1.39 each Now 5 for 4.90 INTIMATE APPAREL MEN'S DRESS SHIRTS Long sleeve wash and wear dress shirts by famous maker. Solids and stripes in Polyester and Dacron. 14V2-32 to \7Vz- 35. Reg. 9.50-15.00 5.90

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