Milford chronicle. [volume] (Milford, Del.) 1878-1974, 1959-06-26
STEER CLEAR OF TIPS AND RUMoRs


deal of talk about the stock market of late.
Values, generally speaking, have risen stead
lily for long period of time. More and more
people are investing And, as market au-
thorities have been pointing out, some of
those people either don't belong in the mar
ket at all, or, equally bad, are letting lunches
and tips influence their decisions.
This, however, seems to be true of the
few rather than the many. An analysis of
the New York Stock Exchanges Monthly
Investment Plan - a system for buying
stocks out of income, which was inaugural
ed little more than four years ago and has
been outstandingly successful-shows that
the favOrite NIP stocks are in companies of
the highest standing and the best past ex-
perience. Inasmuch as NIP is mainly used
by the smaller investor this speaks well for
popular judgment.
In this connection, the Exchange has just
issued an informative and entertaining book
let called docs 1t Make Sense For Me To
Buy Stocks?" The text is presented in ques
tion-and-answer form, and is designed as
commOn-sense guide to investment. In sum-
mary, Investigators are told plainly that they
must first outline detectives and select in
vestments according to needs. They are eau
toned to understand the risks-and that
some stocks are riskier than others. They
are advised to have some cash reserves be-
fore investing. And, finally, they are urged
steer clear of tips and rumors.
The wise investor, no matter how large
or small his capital, will follow that simple
little guide.
END THE GUESSING GAME
The dignifed justices of the U. S. SUI
preme Court now are called upon to play
guessing game.
Very often, the justices must decide a
question which runs: "When congress pass
ed this law, did congress mean all state laws
on the subject were to become void?"
It's hard game to play, as is demon
strated by the fact that the answers often
come in the form of 5 to A, or to decis-
IONS Hundreds of congressman have work
ed on the federal law involved, and thou
sands of state legislators may have weighed
the state laws but often the guess of single
Justice determines the law under which all
of us must live.
Representative Howard Smith of Virgin
ia has introduced bill called H. R. 8 in the
house, and Senate John w. Mcclellan of Ar
kansas has introduced S. 3 in the senate to
do away with the confusion. These identi-
cal bills state that when congress wishes to
cancel state law with law of its own, it
must say so in the new law. If congress does
not say so, the court cannot assume so.
Such a law will prevent future fiascos
such as the supreme court decision that the
Smith Act against subversion prevents state
and local officials from prosecuting subver-
sion Representative Smith, theauthor of the
bill, had no such intention when he wrote it,
but the court had no clue.
&1@1&<
EXCEPTION TO THE RULE
When you buy a bag of groceries, an in
surance policy, theatre ticket or anything
else of a commercial nature who pays the
cost of providing the commodity or service
IN
The answer is simplicity itself-You do.
No one else has to chip in to pay part of
the bill for something you get.
That, of course, is the general rule. But
one exception that great numbers of people
don't know about is the parcel post service
Fourth class mail) of the Post Office Depart
ment.
Parcel post is purely commercial I'M
dertaking. Long before it came into exis-
tence, in 1913, an efficient parcel service was
provided by private commercial enterprise.
And, today, parcel post is in direct COM
petition with private commercial enter
prises operating on the national, regional
and local levels.
Yet the users of parcel post do not pay
all of the costs of providing this commercial
service. Parcel post has run at deficit
and heavy defcit-during most if not all of
its history This simply means that every
U. S. taxpayer, though he may never pa
tronize the service must substitute those who
do patronize it.
This is problem of importance, in our
era of murderous taxes and stupendous gov
eminent deficits. The solution is to put
parcel post on rate base that will honestly
and completely take care of all the costs.
&&@@&
THE DROWNING SEASON
The approach of swimming weather
brings to mind the fact that each year some
thousands of persons drown because sensible
precautions were not followed by the victims.
The following rules are good ones to OBJ
serve:
1. Do not go swimming too early.
2. Use supervised pools.
9 Sta1z aShnra in haa1zz 1ueathar