Milford chronicle., 1956-12-28
Washington Letter : By Robert Nelson TaYlor

ance against the Communist men
ace?
Mr.. Dulles quoted zone of the
leading figures of Europe" as say
ing: Its very important that this
in such a way that the Soviet Union
is surrounded by friendly coun-
tries. We can not quite harmonic
this theory with genuine indepen-
dence" Or would a satellite, after
finally throwing off the Russian
chains, lose such long-smoldering
hostility as drove Hungarians to
desperate rebellion-and proclaim
its friendship for the late oppres-
sor?
AS India's Premier Nehru told
newsmen at another press confer
ence-in Washington's National
Press Club: "The policy of the
United States is a flexible policy
adapting itself to circumstances.
How it will adapt itself, can't say,
it is not as rigid as I thought"
But we are happy to report that
the Secretary reiterated that: 1.-THE
United States stands firmly opposed
to the admission of Communist
China to the United Nations" That,
at least, we can get our teeth into.
For More Help In "HeIpmeeto
Wall Street, financial axis of the
world, has been seasoned in its
299 years of trading to the shocks
of war and panic and depression
even of bombing. But its latest jolt
is the emergence of a woman, Iowa
born Mrs. Charles Ulrick Bay, as
board chairman and president OF
one of the most venerable, respected
and important member firms of the
New York Stock Exchange
But, even though it never hap
pened before, Mrs. Bay herself, re-
fuses to regard the event as earth
shaking. In her view, " it was
inevitable, just as some other wo-
man was the first judge, and still
others the first engineer, minister,
ETC."
Eminently qualified for her post
at the head of the 92-year-old A. M.
Kidder & Co., Mrs. Bay is the
widow of the former U. S. Ambass-
ador to Norway. She served abroad
not only as her husbands official
hostess but as his closest advisor,
as she had before and since in the
management of his varied indus
trial interests. Mrs. Bay is also a
n oh Af
Norwegian-born children, whom the
Bays adopted while they were at
the Embassy, and who are now all
American citizens.
Her new job, says Mrs. Bay,
seems perfectly natural to me-"
She points out that: Women are
the purchasing agents of the world
They know a great deal about the
value of money-and they handle
a great deal of the worlds wealth. -
She notes that, in mid-1956, 4,44S 900
women, or 51.6 percent of the total
shareholders on the New York
Stock. Exchange, were investors in
securities. And they owned ap-
proximately 100 billion dollars
worth of stocks. compared with
about 55 billions in savings ac-
counts.
The lady aboard chairman con-
siders that woman's skill and Gin
tuitive bargaining abilities" demon
strated in retail shopping, indicate
real business ability and apti-
tude". In spite of the funny papers
she thinks ''the average woman
really knows how to handle money.
Mrs. Bay is determined to de-
molish the outworn idea that "wo-
men investors are rich old ladies'
and to educate backward husbands
into taking their wives into
their complete financial confidence
when women are fully entrusted
with estates-not in the role OF
mere passive coupon-clippers but
as active investment owners" she
SAYS, "our economy will be more
vibrant and more venturesome, in
areas where increasing capital is
our constant need"
The thought that this lady finan-
cier plans to make our wives better
widows may have its gruesome
asDects. But if we face uD to sta
tistics. we know most wives viii
he widows-for quite a spelI. There
seems inst an outside chance. how
ever. that if the ladies' were better
enuipped to paddle the fiscal canoe
their help might enable us to be
around longer.