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Cedar Rapids Gazette (Newspaper) - October 1, 1974, Cedar Rapids, Iowa 2 Th* Cedar Rapids Gazette: Tues., Ort. I, 1974 Big George! Virgil Partch '•WK SJH Current Bear Market Worst Since Depression By Sylvia Perter NKW YORK - During the three days of August preceding the resignation of former President Nixon — a step that was widely expected to trigger Second of a series a major stock market rally — American investors did indeed line up in unprecedented numbers to buy securities. But they were purchasing notes is sued by the U. S. treasury, not stocks. As they waited for hours outside the Federal Reserve Bank building in the Wall, Street area — each planning to invest at least $1,000 in the ti. S issues — the stock market began its anticipated upswing and prices soared at the New York Stock Kxchange three blocks away. By the third day. though, the buying of stocks had petered out. The rally sagged, then died Prices started to fall Truck Driver Starts Pets’ Taxi Service Dr. Andelman “Rand*, perhaps vour leather would prefer ice tea or r«M>t beer or ..." For Better Health No One Knows What Causes Hiccups Cases By Dr. S.L. Andelman Everyone has a cure for hiccups But many of the cures seem as pointless as the spasm itself We know what occurs when you get a hiccup but we don’t know why. A hiccup results when there is a spasm or involuntary movement of the diaphragm, the muscular partition that separates the chest cavity from the abdominal cavity. Because mo ement of the diaphragm is one of the important actions by which we breathe, the spasm of hiccup causes us to inspire, or draw in air. This is followed by the closing of the glottis, the opening between the vocal cords This shuts off the air suddenly and produces the typical “hic” of hiccups. Diaphragm The diaphragm is controlled by the right and left phrenic nerves but no one knows why they send impulses to produce an apparently useless jerk. You’ve all heard the folk ways of treating hiccups They Persistent singultus, as it s called, may be a symptom of many different disorders, including those of the intestines, kidney, heart, lungs and nervous system. First Stamp The British Penny Black, the world's first adhesive postage stamp, was first issued in 1H4D CHARLOTTE, N. <’. (UPD-Former truck driver Bob Walton switched from a tractor trailer rig to a panel truck in April to start his own pct taxi service. Walton got the idea for the service more than a year ago when his wife complained about having to take time off from her job to take the couple’s seven pets to the veterinarian He sent questionnaires to local veterinarians, kennel owners and pet groomers asking if there was need for a pet service and the response was *'75 percent favorable.” “The service is Dew and as far as we kaow ifs the ally ane in the carnary,” said Walton, wha aperates the business ant af his residence. “I'm new getting abant five ar six calls a day.” Walton will pick up a pet and take it anywhere in the county for $5 one way and will make a round trip the same day for I# To supplement his income from PETS (Pet Efficient Transport Service). Walton removes the various cages from his van and delivers morning and afternoon newspaper routes. Walton also makes frequent long distance trips for customers who want to give their pets special care. “I've taken a dog ta Bastan and made a trip ta Miami ta deliver a paadle,” said Waltan. wha charges 25 cents per mile an tang distance trips. His van. which closely resembles vehicles used by a local ambulance service, is available on a 24-hour basis but he says most of his calls are not emergency in nature again and the market reached tho lowest level in decades. 89-99% Drops In many ways, this has been the worst stock market decline since the catastrophic crash of 1929-32 — almost a half-century ago Hundreds of solid 'stocks have lost HO to 90 percent of their value; the blue chips (the so-called religion stocks) are down a dreadful 40 percent or more just since January. 1973. In depth, even the Dow-Jones average of stocks of 30 of the nation’s greatest corporations shows the 1973-74 break to bi* the worst since the pre-World war II period In duration, this average shows the current crack-up also to be the longest since 1938-42. The figures tell the tale more dramatically than any words — and mind you, the Dow-Jones average drastically minimizes the real-life losses suffered by millions of Americans. Bear Markets The 1929-32 Bear market, of 34 months’ duration, saw Dow averages drop 89 percent; that of 1937-38, of 13 months’ duration. saw Dow averages drop 49 percent; and that of 1938-42. of 42 months’ duration, saw Dow averages drop 41 percent. The 1946 Bear market, only 4 months in duration, saw Dow averages drop 23 percent; that of 1953. of 8 months' duration, saw Dow averages drop 13 percent; that of 1956-57, of IO months' duration, saw Dow averages drop 13 percent; that of 1957, only 3 months in duration. saw Dow averages drop 19 percent; and that of 1960, of IO months’ duration, saw Dow averages drop 17 percent. The 1961-62 Bear market, of 6 months" duration, saw Dow averages drop 27 percent; that of 1965. only a month and a half in duration, saw Dow averages drop ll pecent; that of 1966, of 8 months’ duration, saw Dow averages drop 25 percent; that of 1967-68, of 6 months’ duration, saw Dow averages drop 13 percent As for the two most recent Bear markets, that of 1968-70, which was 18 months in duration. saw Dow averages drop 36 percent, while the current Bear market, from 1973 to date, so far 20 months in duration, has seen Dow averages drop 40 percent. Why Sa Bad? Why so horrible a record since the mid-1960s? (I) The vlraleace af this era s inflation — now threatening the very surv ival of our economic system — is unquestionably the prime factor. No corporate profit statement is what it seems today; when the impact of price markups is removed, many apparent pluses turn into minuses. Inflation has sent interest rates skyrocketing, a development always extremely bearish for stock prices “The individual investor will return to the stock market when the inflation picture begins to brighten,’’ says James Needham, chairman of the NYSE. That is still to come (2) The wild flariaatieas in stock prices — spurred first by the performance madness of the institutional investors and intensified by their “herd tendency to buy and sell together — have frightened and disillusioned many investors. Instead of becoming a stabilizing force, the institutions have become a major destabilizing factor in the securities markets (3) The grim problems af both our own economy and those of the other oil-consuming nations hardly constitute a lure to invest in the future — which basically is what buying stinks represents. (4) The sarge la iaterest rates has made fixed-income securities extremely attractive in comparison with the return on stocks You can get ll to 12 percent on short-term, virtually riskless investments in Sylvia Porter work sometimes and don’t work others. One of the best cures is to breathe in and out into a paper bag for several minutes, perhaps as long as five. This increases the carbon dioxide in the air inhaled The carbon dioxide often stops the spasm A doctor may also administer the gas in a mask in his office Don't use a plastic bag — if you do and you cover both the mouth and nose, you risk asphyxiation. A brown paper bag is much safer A sudden distraction of the person hiccuping often stops the spasm. Others stop when they get very involved in a conversation Remedies Holding one s breath, sipping cold water a few drops at a time, or eating a spoonful of granulated sugar works for some people Ice placed against the neck is another of the hundreds of home remedies often suggested to stop hiccups. No doubt the attitude of the person hiccuping has much to do with stopping simple hiccups If you should develop persistent hiccups that just won t respond to any of these remedies, see your doctor Waterbed Becomes Middle Class Affair SAN FRANCISCO (AP) — Waterbeds are shedding their far-out image and floating their way into the bedrooms of middle America, manufacturers say But for customers who expect something more from a waterbed than a good night s sleep, the industry still offers plenty of gimmicks, including a new canopy frame with overhead mirrors that retails for $566 The mirror model, plus a new watercrib and hospital waterbed. all were on display at the Second Annual Waterbed Trade show here. It was a chance for wholesalers to show off the current state of what they say is a fast-growing $50-million-a-year business Prices ranged from $156 to $560 and most models came equipped with a heater and frame “The waterbed image is definitely changing — it s na laager a fad," said Rabert (’. Miller, vice-president and general manager af Safeway Pradncts. a Middletawa. ( ann., firm that makes electrank equipment, airplane deicers, and — since 1971 — waterbed heaters. “At first, the typical watcrtnsl ad showed a young couple half-clad under a leopard skin.’’ Miller said “Now it s something for the whole family " Miller said one million families bought waterbeds in 1973 Safeway’s brochure, entitled “The Waterbed: A Family Affair.” features a cover photo of a mother and father with three children and the family cat all snuggled on a waterbed “We’re becoming Middle American We’re encroaching on a vast new market,” said Bruce Macdonald, marketing director for the wholesale firm of Water aud Air Elements of Los Angeles, which claims a 26 percent share of the national market with sales of just under $16 million last year Said Steve I/Cgris, head of WiMMistock Furniture Manufacturing Co. in Uing Beach, Calif . which makes the mirrored waterbed "It s the new lixik, the new concept These things jack lip your sex life — for sure! — but it s not just for newlyweds, it s older people who are getting into them " money market funds and certificates of indebtedness, almost as juicy returns on issues of the U. S. treasury itself. This is merely a sampling of the reasons why. Yet, there are still 30 million individuals who directly own stocks today. Also hurt are all members of their families > There are more millions who are indirectly affected through their stakes in pension funds, college endowment funds, even jobs in companies suffering from erosion in the valur of their securities. Too many of us art* involved for this to be someone else’s worry. Wall Street’s disaster now endangers us all. Next: The Crisis of Capital. Advertispment Now Many Wear FALSE TEETH With More Comfort Ttw’y Kn«iw a flinturo adhesive ran holp KVSTKKTH * Powder dives dentures a longer, firmer, steadier hold. You feel more rnmfortalde . . . eat more naturally. Why worry? (let KVSTKKTH Denture Adhesive powder. Dentures that fit are essential to health. See your dentist regularly. One of these closer to you bankers has your key to an IITTEREST-SAVER loan Receive a handsome 18 karat gold-plated car key and key ring ABSOLUTELY FREE just for finding out how you can reduce interest charges with a new People's Interest-Saver Loan. Peoples' Interest-Saver is different from other installment loans because you only pay interest for the exact number of days you borrow the money. Let a Closer to You Banker like Bob Leinart, Jim Schultz or Steve Allison show how your next auto or personal loan can cost you less. And he will give you your free gold-plated key, personalized with your own initial and custom cut to fit your car ignition. Why pay more somewhere else? Tomorrow 'WEDNESDAY) Night State Senators Mctiael Bloom anet Tom Riley, candidates for Congress (2nd District) will appear at Coe College Cherry Auditorium at 700 p rn You are incited touring your quest'ons and participate along with area newsmen and fiost Dean Borg in this special IEBN video tape presentation. Watch for “The Candidates” this Thursday night at IO 30 KDIN TV ll KUN TV 12 AND TRUST COMPANY CLOSER TO YOU hoopla* Downtown «hoopla* lost of Town and Country • hoopla* Watt at May* City • hoopla* In Newhall Member FDIC
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