Newspaper Page Text
Page 16
— Griffin Daily News Wednesday, November 2,1977
Business mirror
Farmers like investing
By JOHN CUNNIFF
AP Business Analyst
NEW YORK (AP) - In the
1970 s the nation’s stock market
investors have diminished from
about 31 million to 25 million,
but in Bowersville, Ohio, popu
lation 350, about 27 per cent of
the town is invested.
Young and old, they believe in
stocks as strongly as they do in
com and soybeans. The yields
are good. One group of investors
expects to double its money
over the next three years.
Most of them are farmers or
are engaged in farm-related
work, such as operating grain
elevators or working for the
Federal Bank. But the
banker, doctor, mathematics
teacher, funeral home operator
and druggist are invested too.
In a town such as Bowersville
people are very close to the re
alities and practicalities of life.
There is perhaps less dreaming
of a stock market killing and
more faith in slow, honest
growth.
Understandably, one of their
favorite investments is Bob
Evans Farms, Inc., a highly
profitable, Ohio-based farm
company, pork sausage maker
and operator of 27 family style
restaurants in Michigan, Il
linois and Ohio.
Perhaps the biggest in
vestment is in the Kroger Co.,
the big food store chain. The
fanners feel they know the food
business well, and they feel the
company is well managed. Be
sides, the company is based in
Ohio.
In nearby Jamestown, popu
lation 1,790, interest is nearly as
intense. In fact, that’s where
some of the people in Bow
ersville found their inspiration.
Jamestown citizens formed a
cooperative — not to sell their
harvest but to buy stocks.
It was there in 1962, to reph
rase, that a few investment
minded individuals decided to
form the Jamestown In
vestment Club, with member
ship made up of 20 individuals,
mostly business and proses-
brazier.
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sional people.
In March 1972, Dale Van
niman and Paul Stethen, both
farmers and both members of
the Jamestown club, felt there
was enough interest in Bow
ersville, five miles down the
road, to begin a club there.
Thirty-four joined.
Entrepreneurs, as farm
people must be, Vanniman, Ste
then and John Trimmer, loan
officer of the Federal Land
Bank, early this year formed
another club, the Farmers In
vestment Club. It has 59 mem
bers, some of them members
also of the other clubs.
“Because of our learning ex
periences in the first two clubs,
I feel our new club will double in
value in three years,” said
Trimmer in a letter to the Na
tional Association of In
vestment Clubs (1515 East
Eleven Mile Road, Royal Oak,
Mich.).
Not that promise rather than
performance characterizes
their efforts.
The Jamestown club invested
$90,800, which has grown to
$147,888. The $58,975 invested by
the Bowersville Investment
Club is worth $91,660. The
Farmers Investment Club
bought shares for $20,650; it’s
now worth $21,547, even though
the market has been steadily
falling.
“Our clubs didn’t start per
forming well until we started
buying good companies and dol
lar averaging these stocks at
the appropriate time,” said
Trimmer.
It isn’t uncommon to hear in
vestment club members speak
that way, since the three under
lying principles on which they
seek their success are:
1. Invest small amounts regu
larly without trying to guess the
ups and downs of the market.
Sometimes that means holding
onto stocks through some rather
grim times, but the assumption
is that ups will more than offset
downs.
2. Reinvest earnings to bene-
fit from compounding.
3. Choose companies growing
faster than the industry of
which they are a part.
Bowersville and Jamestown
investors differ in other ways.
The young people are anxious to
invest, even though the latest
New York Stock Exchange
census showed interest waning
among younger people.
In Bowersville, 28 per cent of
the new investors are in their
20s and 30s. And they’ve per
sisted in their regular investing
plan even though the market
seems to have tripped into an
open well.
Something perhaps to do with
positive thinking. At the en
trance to town is a sign that
reads, “Home of Norman Vin
cent Peaie.” Perhaps that’s
where he got the idea.
Legionnaries’ disease found
everywhere in isolated cases
HARTFORD (AP) - A 33-
year-old Newtown man who
died in August had the first
confirmed case of Legionnaires’
disease in Connecticut, say
state health officials.
The man died three days after
being admitted to Danbury
Hospital for treatment of severe
pneumonia and a high fever.
His name was not revealed.
State medical specialists
were unable to determine the
cause of the death. They re
ferred the case to the Center for
Disease Control in Atlanta,
which relayed its findings of
Ijegionnaries’ disease to Con
necticut officials.
“This disclosure comes as no
surprise to the department be
cause during the past few
months evidence has been ac
cumulating that legionnaires’
disease is present wherever it
has been searched for,” Health
Commissioner Douglas IJoyd
said in a statement.
But Lloyd cautioned against
alarm, saying “it is not a new
disease and can occur in iso
lated, sporadic cases without
widespread epidemic.”
A Health Department spokes
man said no other suspected
cases have been detected in the
western Connecticut area
around Danbury.
IJoyd said the Center for Dis
ease Control is testing samples
from 15 other Connecticut
patients with undiagnosed res-
Vietnam style
HO CHI MINH CITY (Former Saigon)—Two Ao Dia clad
Vietnamese school girls ride on the back of friends’ bikes
as they go home from school. One carries a guitar. (AP)
piratory ailments. None was
directly related to the Danbury
case, he added.
There has been no evidence of
person to person spread of the
disease, the health spokesman
said, adding that the way the
disease is spread is not known.
The disease’s name comes
from a widely publicized out
break in Philadelphia in August
1976 during an American legion
convention in which 29 persons
died.
Private Curtis
assigned here
Private Kenneth Curtis, a
1976 graduate of Pike County
High School, has been selected
to be an Army recruiter aide.
Curtis recently completed
basic training at Fort Gordon,
near Augusta, where he also
received career training as a
multichannel communications
equipment operator. He will
assist the Griffin Army
recruiting station located at 131
North Hill St.
He is married to the former
Everlene Jordan, also a
graduate of Pike County High
School.
Movie monster
is insured
NEW ORLEANS (AP) -
Godzilla, the movie monster
known as the scourge of cities
and human life, is protected by
insurance.
“When we were approached
to issue the insurance," said
Edward Yerger, resident vice
president of Fireman’s Fund
Insurance Companies branch
here, “no one had the nerve to
turn Godzilla down.
“But we’re not complete
pushovers. We’d heard Godzilla
has breath that would fry a
chicken, so we wrote the policy
to exclude any loss caused by
extreme temperatures, as well
as wear and tear, dishonesty,
flood and mysterious dis
appearance," Yerger added.
The request for coverage,
made by Cinema Shares Inter
national, was actually for a
monster costume used to pro
mote a Godzilla film at the
aters around the country. The
insurance firm wrote a sched
uled articles floater with a $5,-
g, 000 limit.
CARD OF THANKS
The nieces and nephews of
Grady Gilmer would like to
express their appreciation
and thanks to our neigh
bors, friends and relatives
for their love, kindness and
prayers at the death of our
uncle. For the floral
arrangements, cards, calls
and food.
We want to say a special
thank you to the telephone
operator that took my call
for the ambulance. The
emergency medical team
that worked so faithful with
him. The Rev. Wiley
Virden and Pittman Rawls
Funeral Home. May God
bless you all.
*
# Lena Mae Payne &
# Joyce Howard
One of the early theories was
that the 29 deaths resulted from
poisoning by a nickel compound.
The investigation was led by Dr.
F. William Sunderman Jr.,
chief of laboratory medicine at
the University of Connecticut
Health Center in Farmington.
Sunderman said his in
vestigations were “in
conclusive.”
Since the outbreak in Phila
delphia, 62 cases of the mys
terious disease have been con
firmed in 24 states and the Dis
trict of Columbia. It has killed
15 persons, most of them
middle-aged men, Lloyd said.
Among the symptoms of Le
gionnaires’ disease are muscle
ache, headache, high fever,
chills and cough.
The delay between the New
town man’s death and the re
port that he died from legion-
naires' disease was because it
takes at least six weeks to
analyze tissue samples, the
Health Department spokesman
said.
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Georgia Outdoorsman
Hopes for shrimp good
By TOM HODGES
The Brunswick News
BRUNSWICK, Ga. (AP) -
The shrimp population off
Georgia’s coast has a very good
chance of building back up to its
past abundance, provided the
extreme cold that almost
destroyed it last winter does not
hit again this season.
According to Dr. Robert Ri
mold, associate marine scien
tist with the University of Geor
gia Extension Service, the over
wintering shrimp in the coastal
waters will have a particularly
hard time enduring such a re
currence.
Rimold, who takes over in
January as the state Depart
ment of Natural Resources su
pervisor of shoreline resources,
is in charge of an ongoing
shrimp disaster survey run by
the DNR and the university.
The survey consists of regular
sampling at 100 stations along
the coast to determine the
distribution, age and health of
the different types of shrimp.
Rimold said samples are tak
en every two weeks.
DNR vessels dragging 40-foot
nets perform 30 minute sweeps
of the offshore stations, while
boats operating out of the Ma
rine Extension Service docks
cover the inshore stations with
According To Spalding County Health Department
estimates of 50 percent of the bored wells in Spalding
County show evidence of contamination. With over 17,000
more people projected as population increased over the
next several years, we must begin at once in providing for
quality and orderly growth.
ELECT
JIM GOOLSBY
County Commissioner
Nov. 8
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20-foot nets, making 15-minute
drags.
Information gathered from
the samplings is being compiled
into a computer summary for
analysis later.
Rimold noted, however, that
preliminary information seems
to indicate last winter’s damage
is not permanent.
The three types of shrimp na
tive to the coastal waters, he
said, are white, brown and pink
shrimp. The most common
commercial catches are white,
which were hurt worst by the
cold and are the scarcest.
Rimold said input is being
sought from the area’s veteran
shrimpers who accompany the
research teams on the trawling
trips.
In this way, he said, com
mercial expertise supplements
the scientific methods and helps
find a more representative
sampling.
Crewmen on the boats say the
survey is finding new infor
mation about the health and
breeding habits of the shrimp.
Two schools of thought have
developed concerning shrimp
spawning.
One speculates that shrimp
spawn mainly in the brackish
waters at the mouths of rivers
and creeks.
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As the baby shrimp mature,
they progressively seek saltier
waters and eventually wind up
massed in the sounds — the
areas sheltered by the sea
islands — and offshore.
Thus, shrimpers seeking the
larger variety will have to go
further out to sea to find them.
The other idea, for which
there is more supportive evi
dence, is that shrimp burrow in
the sand in shallow water just
off the beaches to lay their eggs
and are semidormant during
the process.
The inshore trawls, which
scrape the sea bottom have
yielded a sufficient count of
younger shrimp to substantiate
the latter theory.
Also, the workers have found
record infestation by parasites
in the shrimp population.
Many feel this is due to the
weakened state of health caused
by last winter.
Rimold said he hopes to keep
the survey going for at least two
years.
“If we can keep it up for that
long,” he said, “we can really
begin to get a good handle on
resource management.”
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