davidaulloa/AmericanStories huggingface dataset:
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-04-06
Turf Topics
BIT OF CHEERING NEWS
FOR STATE RACE HEAD
BY LEWIS II. WALTER

Bowling took her back 10 his
breeding farm near Worthwhile.
She was treated against tetanus
and for the next two months her
badly mutilated leg was medicated
six times a day. She was further
cared for six months until the
wound was fully healed and she
was able TO walk about.
Sassenach was never able 10 run
again. Finally Bowling bred her
to MorSel. his highly regarded
stallion. Bit o'-tireen was her first
foal, Bit o Brown. now a 2-year-
old, her second, and on March p
she foaled another filly unnamed
as yet.
Bit o Green has already won
five races and 1905
Paddock tips: Don't give up yet
on Quintillian. Mrs. frank J.
Navin's Kentucky Derby nominee
The colt may not be tops.
but he had a rough trip when he
finished in the ruck in the Arkan-
sas Derby Quintillian suffered
along with Attack and Libercaise
from spill which occurred Just
as the field was rounding the turn
for home When Aljack went
down and Libercaise fell over
him. Quintillian was sent far wide
and lost a lot of ground
Mrs. c. c. Winters of Detroit.
whose top Splinter. Night Editor.
won at Hot Springs, is having
more trouble with her contract
rider. Jose Marrero The sta
BILE, which is trained by Frenchy
Lamoreaux. brought Merrero from
Cuba four years ago and kept him
in good standing with the immi-
grafton authorities ever since. Re-
Gently while driving 10 the Oak
lawn track at $50 a. m. to exer-
else some horses Marrero struck
a pedestrian The injured man
IS still in the hospital and is SUNG
the Winters for SIS, 900.
The Bomar Stable of, Detroit is
at Keeneland ready for the Open
ng at Lexington with Is horses
n charge of Trainer Eddie
Barnes This includes the Ash
and Stakes nominee. June Bee
md tfe former Detroit favoriIe.
Benjam, along with eight 2-year-
bids.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-04-06
It's EASY TO PLACE YOUR
WANT AID IN THE TIMES -

W6U over THREE HUNDRED
THOUSAND families read The
Detroit Tines EVERY DAY :.
MANY MORE on Sunday. This
lines group Of readers consti-
futes o GREAT city in Itself Of
OVER ONE MILLION people
people who wantsomethinq which
you may have 10 sell -. a piece
Of furniture d car or peopIs
who may want 10 rent your tlaf
your apartment, your home or
. percho0ce BUY a house you may
wort 70 seffff. Perhaps too. you
need help d man 10 repaint
your home, q carpenter a girl for
bousework -. whatever you may
have 10 sell rem. or whatever you
need. rest assured. on lNEXPEN-
SIVE TIMES WANT AD will solve
your, problem.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-04-06

one OF the best handlers OF players
on the SandlotS. has little patience
with the complaint Of some man
ayers that Sans. having tasted
victory twice ought to move into
Class A. Maybe The experience
Of Walter Tomicic. NlaSic man
ager. whose Class a teams in the
last TWO years have found hard
pickingS has something 10 do with
IL. Al any rate. Bigelow thinks
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-04-06
TROPICAL PARK

Al Miami. lla-l
i-CHoC0iATE Min, Lady Clipper.
okei.
e ANTnNIN0. Gene Home. John Allen
s-MIS> htsflt. oid Sn'ooih, taster
Rabbit
t-sNL,e BETTY. Gallant Hour. Dsrh,
Dallas.
S-RASHI BAT0Ik. Commencement.
Many StinKx.
e-sASsl MA1I. Annpheirs Might step
T--MFNTAL GAM Adehata, Chosen
Time
H-PAIC0. Sr Rrynsrd .-Merrily ~an
R-SMITIN IAGk straight Thru. Ton
starr
HT@T-pAIG0
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-04-06
Weighs 200 Pounds

St. Louis has seen him ihree
times and approves He earned a
seventh round Knockout over Hank
Bath and a technical kayo over
Leonard BoStick in the sixth round
in addition TO deciSioung Art
Oliver there
Weighing 200 pounds although
he stands only five feet SIX inches
tall. the squat baftler even bears
some facial resemblance 10 Ca
lento He is Of tho same nationality.
Italian. and game as they come.
but there the resemblance ends.
For Music. IN his three years OF
fighting as professional has
shown little punching ability and
far less boxing ability A far left
hook will be his only weapon when
he steps into the ring for the most
important battle Of his HE
Abe Simon. the 250-pound Jew
ish giant who surprised everyone
by staying l3 rounds with the
VIII get another shot
At the title May q a. Madison
Square Garden. a cruel reward for
a courageous showing. fhey 'i0nt
last long when Louis meets thcm
the second time.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-04-06
Tropical Park Results

FirN Rsce-t 600 claiming, 4.ysar-olds
MS, counsel iwholsl 1850 $40 80
5M,aieasi ''' 22oo 1000
Batter tWiHams2 so
Time l3 %. of da
supreme Chantf. Ar Lap Erect orchard
Run some Polly Tump Placer Inn ana
CRUISING also ran.
Srruut Harr oatf. -tsru1ruF war
octphre OuTe tHoWeiH y SO 20 go
MeXlcanR tMcAndrewt So 3o
Pavilion Leblanc $40
Time -. off $751;
Soiformc Glno Mis- Happy Winner
classic Beauty, Vesuyus Long Legs Polls
Hygro and Altoona also ran.
Third Race s. ooo claiming '.vear-
olds and up 3 mite aad 1n Yards
Darby Dean oHaskeln 5 90 sn
soldiers can -tMetpeth 3 20
Time T.4a To- of 3sus
Hugh Blame Hope Diamond A1stocracL>
ana Bright Vtetr-ry si-'r frit
Fourth RACE 81 ooo suovagsrSsyear
siiytstrs oNecomb,) 10 $50 $40
fonty tMsyt so s 50
Bad Cold CParisoa = 900
BIZ O'Greec)Nerson Maemsnte Mar
ket Wise >>ShorieninE and seventh Day
also M
L1Inh Race 50 eaa added Coral Gables
Handicap 2-year-uids and gp - nile.
b'Llnefty Flight MaFi 20 30 -
b-Wise Pee tNcCambst $50 so
Potrauco Wilismst 90
Time I.ll Is. ~ 4zns
M1ot-in sweet Willow and Doubt Not
ais" ran
n-Na1nHEh enfft
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-04-06
Bay Meadows Results


an, a. 1e-....Iv .5,f.i. sea IN . go
aa = l..
~ .n
on
1 MN, .sst.r k,.tsf
e- o,,.', .fs..eg
second Rsee--itoie. oisi msns 3' ear
-, a.a.' e., ,t,.., IT, so II 81
t,.,,. a.
i-a {. -. bast q ,H" We, az ~
~. ,.-..1. t,-s. Vs,arest,
,.t $50 go.
80, p. e,.sr,..i. 49, sr1,,.
-,
ihifn h''' "''f ''"'i'.'-.
e. 49, 80 "A 81
ISL ft.f ~ ~, ir',- 81
~, .n"' e
.tn
,.t4..
ta -
aF' "'''"' '''
fa"rsh nae "l.' '''"'.ah fs"
- 49, -,., ~. In 4aa . sa
ser re StiHutV M
= ai'.s " A-"''f ~
- az ''-tH' .
tait 40 "i Do .#...
Mus Joy H
a's' Kan
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-04-06
Mannagh's Two
Horses Place Il
AT Tropical Park
Liberty Flight Wins.
Wis Bee Second;
Favorite Runs Out
,.,srn.,,ass service wi,s

tnfffNafffsftH WV WV
MIAMI April 3 The colors n
". r. Mannaeh raced 70 FIRST sn6
second place m The Coral Gables
Spring Handicap 5000 added
money event which featured the
Tropical Park bill today Liberty
Flight proved me winning part 81
the entry while his Stahlemate
WISE Bee. COPIED second ahead Of
LeNhraak stables Potranco
Three others also ran Including
the stoatlv supported Mrs. T.
Christopher equine Doubt Net
Liberty Flight carried l26 pounds
high weight. and Jockey 2. Nav
guided the geldinC over tho s-ful-
longs Of the good strip iu l.lll-o
The winning entry paid SIC
straight, $50 place and $50
show
Jockey McCombS. who had
scored -----l----+n--S- race with
SilveStra. rode Wise Bee. while :
Williams VAS aSiride potranco
The latter returned 81 Tor show
International Ns~s service Wire
BOWIE. Nd, April 81 3
Partridges Robert l.. came np
from Florida 10 demonstrate his
superior undermining proweSS al
the Bowie track here today when
he raced 10 a nose victory IN the
$1,000 added Bowie Handicap
Only four horses opposed the
tOp-wcigbted winner who logged
40 pounds over the mile and 20
yards and was ridden by Willie
Garner. G. Felkner'S Maechance
finished second. beaten Scant
ms. Aa-iatll. Mrs Abel $
Honey Cloud was third another
four lengths back Adyocator
coupled running mate of Mae
chance. was fourth. and Mrs Emil
Denemark' 5 Blind Eagle was last
Under his light l05-pound pack
age. MaechanCe scooted into q
long early lead holding as much
as FIVE ltf4tft if- 5s4i7t't4it
ing the contest but the mud
loving Robert l.. although getting
away in last place, reSolutely set
sail for the leader and wore him
down in the latter stages of the
contest 10 get the photo decision
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-04-06
Campbell on Spot

Their decisive victory over Buf
falo makes them the favoriteS
against Pittsburgh. Gallatin- Dun
leavy eliminated the national
champion Chicago Sparta Club in
the Semi-final to get into the final
round against Chrysler
Neil Campbell, who has scored
five Of the auto mems six goals u
the National Amateur and Ma
tional Challenge Cup fipa1s. IN
doubtedly will be op/the spot.
Johnny Leonard. Ckrysler'S second
highest scorer. has had a famine
as far aS~~Goals are concerned
lately apd coach Johnny McInneS
IS hoping that he viii pull out Of
the slump against Gallatin-Dun-
Ieavy.
NATIONAL CHALLENGE CTR
tat Pittsburgh
Ghrysler v. Gallatin- DunieAVy
MICHIGAN AMATEUR LEAGUE
cat Jayne Field
Bioomer ", 81 clair. p. m.
BsVarians ~. hoiping, p. IN.
tat Atkinson Park
Jewish Americans " New Detrolters,
p.
HIspano w. Polish Americans. q. M
cat SoNay Park
NerhoVsy ~, German X. p.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-04-06
Big Money-Maker

Walter Hagen Was one of thr
greatest money maker, in the
world of sport. FOR 10 years
straight his ColhnE income was bet
Tor than $4,000 a year.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-04-06
M d ay's
Best Bets
(By International News Service
BOWIE


At Bapis. MAJ
i--FINE-G-EIGHT Win Time Pup Tent.
.-Rt NOLFk. Actress, Iittie Nnwies
MISS I'm II. Talent. Crack Favor.
s--DIZZf r.. Bliss Polly. Tramp ship
s-F1SH WIFI. Bahs Ion -Bryson entry.
PeindeNter
e-AIR BRIGADE Noodvats 49,
RinEie
f--DON PECOS. Gurk0n. MONEY Middle
b-IFAN {. Count Eleven Rhintg
BEST-uON PECO~.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-04-06
Louis TO Make .
18th Defense Of
Crown Tuesday
Tony Music Is Next q
in Line of Bum
of Month Parade

A miniature Tony Galento and
probably the shortest fighter Joe
Louis has yet faced. Tony Music
will fiji the role of the sixteenth
for the Brown bomber
heavyweight crown next Tuesday,
April s. AT St. Louis Mo.
Music. IL will be- recalled IS me
same whom the Cleveland boxing
refused 10 sanction as
an opponent for the champion A.
though he decisiened Buddy Knox
there in his last fight. Difficulties
with Mike Jacobs. who again VIII
be the prom otor. were at the
bottom OF the refusal.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-04-06
ChrysIer Faces
Smoky City #
In Cup Finals
Total Goals Series
Opens This Sunday
on Pittsburgh Field

ChrySler Soccer Club will repre-
sent Detroit in its first Western
final of national soccer competi-
tion since 1927 when it meets the
Gallatin-Dunleavy eleven in Pitts
burgh Sunday in the first of a
two-game total goals series.
Both teams are undefeated this
year and il promises TO be a close
contest The auto men defeated
the Buffalo G. O. p. 4-2. here
two weeks ago to earn the right
10 90 into the final.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-04-06
*Slmbb Phone
CHERRY $500

and Thoroughly trained Times lanf adfaker nil glad)
)oa property preparing )oU HaH ad She leH adtn
about The wordHs the proper arrangement The cost uc5
Classification beioqgs and all the other things that makes
Times WANT ADS efccfc inst phone Cherry $500 and
ask for "uapt ad department"
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-04-06

one of mo paradoNes Of the Dc
traf Baseball, Federation IN the
l3St few wears has been the situa-
ton m Class b, which has become
The >and'ot organization biggest
division.
Grown to more than 80 clubs
LAST year and ItS highest entry list
expected .hiS season. Glass b
probably is The declarations most
competitive section. The division
Nath no age limit usually draws
~ least a dozen good ball clubs,
goes through n rather lengthy
regular schedule and winds up
VII Il eruelng plaSn6 series that
truly s survival of tire ftiest
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-04-06
Tuoo Teams Shine

VI with am tho competitor. The
breaks of the game and the Gle
ment of luck thS4 usually enters
IN producing a champion, Class b
titles have been monopolized by
TWO teams m the last five seasons.
NIastc captured championships
from 1886 through 1888. and sam s
Club won in 1889 and 1910.
Sans will ~ for a third Class
title this \ Jason. but the other
clubs are ID from discouraged.
ALREADY a fr6lon teams have paid
entry fees and the opening Of the
season Is Stll a month away
Al BigeloW Sans manager. and
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-04-06
More Appealing

The y. B. +. has in the past
few years made Glass b more
appealing than ever. The cham
pion Is allowed 10 compete in the
state tournament. and if successful
there. qualities in the American
Baseball Congress with teams
from all sections Of the country.
The federation sends its Class A
winner TO the National Amateur
Baseball Federation tournament.
Sans goal this season. in addi-
tion 10 equaling Vlasic's three time
Class B championship record, is no
less than the American Baseball
Congress title. It's long, hard
road 10 travel, but Bigelow'S club
made commendable Roadway last
season. II won the state cham
pionShip and went TO the fifth
round Of the national meet before
being eliminated. Against Class A
too.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-04-06
PARADOX OF PLAY ON SANDLOTS
Two Teams Shine Despite Big Field

Glass 3 is as strong as Class A
and has other reasons
Il prefer Glass u because IL
gives me chance 10 work with
younger men," Bigelow says
Too many Class A players are
beyond the age where they Will
attract scouts from organized
baseball They know they are
not going any farther. Scouts
these days are watching Class
b."
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-04-06
Turf Topics

Did you notice that 3-yearold Bowling her back h
fy named OGeen campered breeding farm near Northv
home at OakaWn Park the other She treated against
day? the III
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-04-06
-FIfiRft -ntrT-1I 7Oa0 nIaiden -


4ssetf-"ids sud up. 5il furiangs
ksthi haxnlt lf2 rtCommeuee-
ImHef. aI isyra1I0 rfnf ,Hu
akFF.ug iil Iu2 6xRanEe Du4s fIH.
se.te9 Trap 1l- NAM saHes NE
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-06-19
A Rope Of Realism

All through our informal chats
and all through the orations OF
graduates has run not merely a
thread but a rope OF, realism,
consciousness that the world is
i'm the throes of more momentouS
trouble than at any time in CEN
turics. that within a year many
of them may be on battlafieldS
rocking with carnage.
Yet they are unafraid
"If your numbers up-well,
it's up, and that's that" was the
tenor of many a remark.
The prevailing tendency is 10
look 10 the longer future, 10 see
gigantic obstacles to be faced,
problems 10 be solved. But these
youths are itching to face the
challenge. Without the slightest
suggestion of bombaSt-I have
found most of the students
modest they convey that they
have infinite faith in the ulti-
mate outcome. infinite faith that
tyranny is not TO triumph for
long. infinite faith that they will
beQueath a better world 10 those
who follow after them.
They expect no picnic, no rosy
path through life. They expect
toll. sweat. hardship.
But their dominating spirit,
their eXhilirating motto is: Nil
desperandum.
Copyright ia4i 'hy e. Forbs
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-06-19
BoomIet

But now, thanks TO the second
world war and the national de-
Tense program. all this is rapidly
changing. Gone, like the NRA,
the price lifting, the pump
printing. and the new thanks
giving date. are the days OF
declining bank loans and deposit
turnover.
To be sure, there were signs
az change in the 1936-37 BOOM
let, but the notion that prices
could be controlled by central
banking operations still pre-
vailed, and in 1887 the expansion
of credit use was killed by gov
eminent action. Now. however.
the practical requirements OF
defense are forcing the govern
ment 10 emphasize production
and efficiency. They are forcing
the government 10 see the i'm
portance Of capital and enter
prise. Accordingly, the inflated
deposits are going 10 work and
bank loans are expanding.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-06-19
Hill New Low

But this initiation remained m
effective insofar aS business ac-
tivity and commodity prices were
concerned. because business was
deferred by government policies
and threats from using the de-
posits. In short. the turnover OF
bank deposits fell almost 10
zero. This means that the volume
Of checks drawn against demand
deposits fell so low that deposits
got hardly half their normal use.
This condition went along with
an extremely low volume of
bank loans. particularly COM
mercial loans and loans 10 hrok-
ers-business loans. These fell
not only 10 an extraordinary
low absolute level, but also 10
what is perhaps record low
percentage Of deposits. Normally
loans are about 10 per cent Of
demand deposits During much
of the New Deal depression pc
Rod they were under 60 per cent
Of demand deposits.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-06-19
Would You Risk This7

How would YOU like TO risk
this?
one graduate, raised i'm n
teeming eastern city, who Is to
become a doctor, is such a lover
Of the wide open spaces, stately
trees. Snow-Capped mountains,
that he aSpires to migrate TO the
Northwest after becoming an
MD. But he reasoned that he
should first leek- the territory
over. Along with two chums, he
has Schemed to get an automo-
bile ride. at extremely little cost,
10 within a thousand miles of
his destination.
What about the other thou
sand miles ." | asked
I'll thumb my way" was his
response.
Not shadow Of doubt has
crossed his mind about his get
ting there without paying a
dollar for transportation. l eX-
pressed aStonishment. Several
others chimed in that there was
nothing to worry about, that
they had learned from expert
ence that, outside the environ
ment of New York, it was no
trick at all 10 get "A hitch.
Another student had not more
than s. TO buy food on an auto
mobile journey 10 his home in
California.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-06-19
Offer 10 Courses

Ten evening. non-credit de-
tense courses of interest 10 engi-
neerS will be given here this
Summer by the University of
Michigan extension servi ice.
Glasses will meet on Mondays
and Wednesdays. beginning June
%, in airport runwayS and low
cost roads, metallurgy of indus
trial metals. practical mechanics,
inspection of explosives and
X-ray studies of metals and al
Toys. On Tuesdays and Thurs
days classes will be given in
aircraft power plants, machina-
bility Of metals. mechanical vi
brationS. manufacture Of nitric
acid. chlorine and other heavy
chemicals. and pyrometry and
furnace control.
There is no tuition charge for
these courses. Enrolment blanks
may be had at the Detroit office
of the extension service, 40 East
Ferry.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-06-19
Trade Up so Pet.

Specifically. the index of in
dustrial production of the Fed
eral Reserve System recently
stood so per cent above the
1858 average, whereas an in
deX of 100 representative stocks
was 10 per cent below the level
of 1853. The disparity is all
the more striking in view of the
fact that industrial activity is
still expanding. and is expected
10 continue To do so.
The practical controversy OF
the hour in Wall Street, over
which buyers and sellers dis
agree. is whether or not traders
and investors have over-valued
the generalized statements of
political policy and philosophic
viewpoint. 1t is a question how
much in the way of corporate
gain will seep through the sieve
Of unprecedentedly high taxes.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-06-19
Arms Program
Brings Recovery
In Bank Loans
BY LEWIS HANEY

Professor Of Economies, y. y. uniNersit
As most people know but some
times forget, bank credit is our
chief currency The bulk Of bust
ness in this country is done by
drawing checks on bank deposit
credits. Developments IN bank
credit. therefore. often throw
much light on business condi-
tons and outlook, and such is
now The case.
one Of the main character
istics Of the New Deal depreS-
sion period from 1888 10 1886
aside from unemployment. was
the vast amount of idle capt.
tai" and this was closely related
10 unused bank resources. What
happened was that deposits were
continually increased by the
monetary and fiscal policies OF
the government. The growth OF
bank deposits roughly kept pace
with the growth of the. public
debt: for the government relied
upon the banks 10 buy It's large
issues Of securities. Thus there
came an enormous IMITATION of
bank deposits.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-06-19
Prices Rising

Prices are rising. too. but this
time. with a world war emer-
cency upon us. what politician
will venture 10 knock boom on
the head?
May figures showed contin-
uation of the rather sharp eX-
pansion in bank loans that has
been under way since last Sep
tember. This has now carried
the total loan figures 10 the
highest level since the New Deal
took over in March. 1888. II
shows what a defense program
and war boom can do.
The expansion on loans has
gone along with a rise in bank
debits"-the volume Of checks
drawn against individual ac-
counts. Naturally, therefore,
since deposits OF late have risen
relatively little. there has been
a gain in the rate Of turnover OF
deposits. This Is encouraging,
because IL means that indiVidu-
ais are spending more freely.
and that greater optimism exists
among businessmen.
Incidentally. the course Of
bank debts in the near future
should be watched as an i'm
portant index of price imitation.
First. a continued rise in debts
would show a growing use OF
deposit currency. and probably
a demand for goods which would
mean rising prices Second. #
prices should rise further. more
deposit currency would be re-
quired 10 buy goods. which
would tend 10 cause increased
debts This is one form that
the vicious spiral OF imitation "
often takes
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-06-19
Traders Explore Subject
of No War Millionaires'

purchasing power. In such cir
cumstances, there may be an in
clination 10 revalue securities
representing stakes of ownership
in terms of cheaper dollars.
With higher taxes in the Of
fling. government officials are
wisely enough seeking through
principles of modern merchan-
dising 10 create the impression
in the minds of taxpayers that
they are getting something
worthwhile for their money.
Secretary Morgenthau is keenly
aware of the desirability OF
selling the taxpayer. and now
the social security board is en-
gagged in a similar effort. Using
the arts and psychology of mod
ern advertising. the board has
prepared for wide distribution a
brochure which is designed 10
show what your social security
contributions buy"
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-06-19
Day Of Reckoning

And yet even the most sober
minded who recognize that after
the armament boom must come
a day of reckoning are further
confronted by the fact that the
current abnormal rate of pub
lie spending is not encouraging
to the holder of cash or high
grade bonds. AS long as infla-
tionary deficit financing is in the
wind, the prudent long-term in
weston will doubtless want TO
hedge against the uncertainties
of the future by maintaining a
balanced investment portfolio.
with investments. such as high
grade bonds, which represent
cash or its equivalent, on the
one hand. and stakes of owner
ship. such as common stocks.
convertible bonds and real es-
tate in communities with a
reasonable tax policy, on the
other.
Another factor is that, if COM
modify prices and living costs
should rise substantially further,
then the value of the dollar will
have been changed in terms of