Wausau Daily Herald from Wausau, Wisconsin • 30

30-WAUSAU DAILY RECORD-HERALD-MERRILL DAILY HERALD MONDAY, OCTOBER 23, 1972 I "-f-THlBWIillLlh BUM jijj lfl III: money's worth you use credit cards i fell I ill House of Cards has grand opening card, you attempt to pay off as quickly as you can. And no matter what your special group, you write more checks than families who do not use cards. What are some of the fundamental implications of all this? One prime implication is that, although all credit cards are substitutes for money or checks in transactions, they are NOT pushing us toward a "checkless society" as was so widely forecast and is still so widely believed. "The most remarkable finding is that families using credit cards tend to write more A visit by the Ambassadors Club of Wausau Area Chamber of Commerce this morning marked the grand opening of the new location of House of Cards. The store has moved from 516 Third Street to the former Wright's Music Store at 531 Third St.

The new store provides more space and features an expanded candle shop and private quarters for prospective brides and grooms to select wedding materials, according to owner Harold Hassmann. The grand opening is to run through Friday. Bui mess mirror Insurance industry looking abroad think of credit cards as a good thing, whether they use them or not," says Dr. Lewis Mandell, who directed the ISR study. 'Fully 75 per cent of all respondents said that credit cards made it too easy to buy things." Now check where you, a credit card owner, fit in the wide range of users analyzed.

If you have a higher than average income and higher than average education, you're more likely to be a card user than those with lower incomes and educations. "Income is the major determinant of credit -card use," Mandell concludes. If you are a young family and have children, you are more likely to use cards than other groups and more likely to incur debt on your cards than other groups. "Another determinant of credit card use is related to the age of the family head." If you live in the suburbs, it's probable that you are an active credit card user, while "families living in central cities or rural areas are least likely to use such cards." If you use your cards to buy clothing more than any other category of goods, you're typical. On both bank and store credit cards, clothing is the most frequent type of purchase.

And if you're in any income group below the very top, you use your card to obtain credit, and this is the most important use you make of the card. You see your card as another instrument for taking on instalment debt and you treat your card debt like an instalment loan paying a little each month, generally the minimum allowable monthly payment. But if you're in the highest income group, you use your card as a convenience and whatever debt you incur on the (2 By SYLVIA PORTER Do you have at least three credit cards, most of them good only at a particular store or chain of stores? Do you use at least one of these cards regularly? Do you think of your card or cards primarily as a source of credit, and in only a secondary way as a convenience? Do you write more checks than you used to, despite your use of the cards too? Do you have a basic, nagging fear that credit cards make it too easy for you to buy things you do not really want or cannot honestly afford? Do you, as a result of this basic fear, tend to think of your cards as an evil a necessary evil, but still an evil and not as a good thing? If you answered yes to every one of these probing questions, you are typical of today's credit-card user, according to the first comprehensive study ever made of "Credit Card Use in the U.S.," soon to be published by the University of Michigan Institute for Social Research ($4, paperbound). "Few Americans tend to Mutual funds MUTUAL FUNDS (Closing Prices at of Friday) Bid Ask Fidelity Fidelity Trand 222 JI.M Fidalltv Capital 11.1! Puritan Fund 10.07 11.01 Ch.mlcal Fund 11.11 12.14 Boston Fund 10 Ml Matt. inv.

Trust 12 53 ll.t Manhattan Fund 4J4 5.2 Ebtrttadt Fund U.M K.ystont KeyttonoS-l Keystone $-4 J. National Investors 0 0J2 Selected Am. Sharas 22 015 Eaton Howard Stock Fund 4 SSI Putnam Investors Mast. Inv. Growth PRODUCE MILWAUKEE POTATOES MILWAUKEE (AP) Potatoes: Wis.

U.S. No. 1 siie A red, SO lbs, S2.S0; Wis. U.S. No.

1 gems 100 lbs, M.SO; Washington U.S. No. 1 rustet, 100 lbs, M.SO; U.S. No. I Idaho burbanks 10 lb.

masters, S3. 00. ran iVeY 1973 Your Do Wausau business briefs Del Burns, Wausau, a member of the board of directors of Midland Cooperatives Minneapolis, represented Midland as a delegate to the 28th biennial congress of the Cooperative League, held Oct. 10-13 at San Juan, Puerto Rico. Burns is manager of Cloverbelt Cooperative Services, Wausau.

Mrs. Jerry Rohloff, 123 Charles Schofield and Mrs. Robert Muha, 806 N. 28th Wausau, attended the 18th annual Wisconsin Early Childhood Workshop in Milwaukee. Mrs.

Rohloff is director and Mrs. Muha, cchairman of the Jack and Jill Nursery, 1205 S. 10th Wausau. Ricky D. Leopold, Marathon Route 1, and Donald L.

Dunst, 112 Kort, Schofield, recently participated in a two-week training program at General Telephone Company of Wiscon-. sin's service department training school at Portage. The specialized training was in basic electronics. James Floriano, sixth grade teacher at John Muir Middle School, addressed the ninth annual Lake Superior Biological Conference at Northland College, Ashland, during the past weekend. He told of the Wausau School District's experience in sponsoring a month of winter camping for sixth grade students at the school forest.

Other Wausau educators attending the conference were Hugh Curtis, coordinator of outdoor education for the Wausau School District, and Arne J. Salli, biology instructor, University of Wisconsin Marathon Center. Michael J. Capista, son of Mrs. Eileen Capista, 225 N.

Eighth Wausau, has taken a position with Factory Mutual Engineering, Milwaukee, as a civil engineer. Michael is a recent graduate from the University of Wisconsin Plattevtlle. While he was at the university, he majored in civil engineering. Wausau pharmacist Ferd Lonsdorf was recently re -elected to the board of directors of the Wisconsin Pharmaceutical Association (WPhA) at that group's annual convention in Wausau. Lonsdorf, president of Lonsdorf Drug Company, is a graduate of the University of Wisconsin School of Pharmacy.

He is a past president of the Central Wisconsin Pharmaceutical Society and is a member of the American Pharmaceutical Association, the National Association of Retail Druggists, and the Academy of General Practice of Pharmacy. Mr. David J. Plotz, sales representative at Monroe's Wausau, 840 S. Third has completed a two week course in business equipment marketing at the training center of Monroe Division of Litton Business Systems, Inc.

at Orange, N.J. Monroe is a worldwide manufacturer of calculating and adding machines. A technical seminar for building officials will be held in Milwaukee on October 25th. Designed to familiarize building officials with a system of factory built housing, the event will be presented by the engineering staff of Wausau Homes, in cooperation with Southeastern Wisconsin Building Inspectors Association. The Bavarian Inn, 700 West Lexington Boulevard, Milwaukee, is the site of the one-day meeting.

A Wausau man will serve as a faculty member at a two-day University of Wisconsin Madison workshop on hearing measurement and its industrial applications, Oct. 26-27. He is Roger Maas, director of hearing conservation at Employers Insurance of Wausau. Maas also will show one of the firm's films, "Listen While You Can." Designed for the physician's assistant, nurses, health and safety personnel and others interested in industrial hearing and conservation programs, half of the workshop will be devoted to practical experience in hearing testing and use of the audiometer. Donald Simons, Sentry Insurance agent in the Wausau area, was recently named a man of distinction by the company.

Only eight of Sentry's more than 800 representatives in this country qualified for the designation. The award is based on the representative's integrity, dedication to policyholder's interests and sales achievements throughout the previous calendar quarter. The awards were distributed at a banquet during a recent three-day conference at the firm's headquarters in Stevens Point. David Damgaard, psychologist with the Wausau District Public Schools, recently attended a training session on psychological evaluation of deaf children. The session was sponsored by the State Department of Public Instruction at the Wisconsin School for the Deaf, at Delavan.

Arthur Grebe, Roger Grebe and Emil Richette recently attend the Ace Hardware convention in Denver, Colo. Six hundred manufacturers were in attendance. David Damgaard, psychologist with Wausau public schools, recently attended a training session on psychological evaluation of deaf children. The session was conducted by he Wisconsin Department of Public Instruction at the Wisconsin School for the Deaf in Delavaa Raymond H. Ott, Marathon County clerk, will preside over the first annual conference of the Wisconsin Highway Safety Coordinators Association at Appleton Oct.

26 and 27. Over 100 delegates are expected at the session. Ott is highway safety coordinator for Marathon County and is president of the state associatioa checks per month than families who do not use such cards" emphasizes Mandell. "This obvious contradiction is substantiated even when adjustments are made for age and income of the credit card user. This finding belies the notion that we are moving toward a checkless society as the result of credit card use." Another prime implication is that our consumer debt pattern is being changed by the addition of credit card debt to other types of consumer debt.

The use of credit card debt is most pronounced among higher income families, which often have no other consumer debt and certainly could borrow at less than an 18 per cent annual rate. But these families aren't taking on long term debt; they're using the cards as convenience and they pay off the debts quickly. And a third implication is that most of you are using your eminent common sense in handling your credit cards recognizing their dangers as well as their allure. Most Americans are indeed their own best money managers. By JOHN CUNXIFF AP Business Analyst NEW YORK (AP) Seeking to spread the risk and thus reduce losses or add to profits, the American insurance industry is going abroad in quest of markets.

U.S. insurers already are licensed in 150 countries. They operate 360 overseas offices and employ about 10,000 foreign nationals selling mainly fire, marine, accident and automobile insurance. But this may be only the beginning. One company, Sentry Insurance, based in Stevens Point, had no overseas business as recently as 1968.

Now it estimates that 10 to 15 per cent of volume is from abroad and expects the figure to grow to 25 per cent in two or three years. "It's been a long time in coming," said John Joanis, chairman and chief executive, "but I think the industry is finally realizing there are some very fertile markets beyond our domestics borders." The markets that Joanis sees are not only in the likely areas, such as England, Western Europe, Australia and Japan. He sees the day not distant when American insurers will be active in China, India and the Soviet Union. Ideological differences, he believes, won't prevent the spread. Instead, the need for insurance will assure its acceptance, he said.

Inevitably, he feels, free enterprise will work its way in. "Creeping capitalism," he termed it. LNA has been abroad for many years. Continental Insurance and Chubb Son also have an overseas tradition. And to a lesser degree, so do Travelers and Aetna.

But, said Joanis, "Much of the industry is not as alert to the possibilities as it should be." The advantage to the American companies is not solely one of volume. Sentry and others believe that a company with foreign markets is a more efficient, more stable enterprise because it is better protected from cycles. Cycles have nagged the insurance industry for so many years that they are considered an unavoidable malady. "The industry is always running up and down hill," Joanis said. He explained: This business prices its product and later determines its costs.

Sometimes it sets a price and then finds out it costs a lot more to provide the service. When you have a good year, he said, you tend to over-react in competing by price. You lower your figures; then you have inflation. As a result, you must attempt to regain your losses by raising prices again. Expansion abroad helps to blunt the cycle, Joanis pointed out, because "cycles are not necessarilly the same in foreign countries." A poor year domestically might be offset by a good one abroad.

Toburen photo REISHUS JR. J. T. Reishus is promoted Drott Manufacturing Company, a division of J. I.

Case Company, has promoted Harald T. Reishus Jr. to the newly formed position of general sales manager, it was announced by D. P. Burks, general manager of the Wausau based firm.

Reichus, previously manager of product planning at Drott, brings a broad background of product and sales knowledge to his new position. After joining the firm as a sales trainee in 1958, he successfully served as district manager, product sales engineer and product manager. Since 1970, he has been responsible for guiding Drott product development in his position as manager of product planning. Reishus holds a B. S.

Degree from the University of Wisconsin. In announcing the appointment, Burks explained that the move represents the first step of a plan to develop a total marketing group at Drott, including expansion to provide greater support at the dealer level. General Tel will honor 8 employes General Telephone Co. will honor eight of its Wausau employes who have more than 25 years of service with the firm at a Quarter Century banquet to be held at the Hoffman House Wednesday. Herbert Frahm, company president, will present service awards to the employes.

Local employes, and their length of service with the company, are: Helen M. Manthei, 35 years; Irene M. Paulmann, 30; Dorothy H. Raymond, 25; Germaine A. Reif 25; Joseph T.

Rudolph, 35; Donald R. Samolinski, 35; Paul L. Schlag, 25; and Dehart L. Wiederhoeft, 25. of plans JinltllTl 71 PUbUlUll Oil referendum The board of directors of the Wausau Area Chamber of Commerce is expected to take a stand on the policy for election of school board members in the Wausau district at its meeting Tuesday noon at the chamber office.

In the November election, district voters will be asked if they favor at large election of school board members, as opposed to the present policy which says at least two board members must reside outside the Wausau city limits. Chamber executive vice president David Major said the chamber's education committee has recommended support of the referendum asking for the change. At the board meeting, directors will be considering the committee's proposal. Also on the agenda are discussions of the chamber's 1973 budget, and funding for economic development. State business briefs By THE ASSOCIATED PRESS NEENAH, Wis.

(AP) Kimberly-Clark Corp. has reported net income of $12.4 million, or 53 cents per share, for the third quarter, ended Sept. 30, compared with $6.8 million, or 28 cents per share, for the same 1971 period. Third quarter sales were $255 million, up from $238 million a year earlier. Earnings for the first nine months increase 60 per cent, to $40.3 million, or $1.73 per share, compared with $25.2 million, or $1.07 per share a year earlier.

Sales were up 7 per cent, to $750 million. The company "has continued to experience a strong earnings recovery over last year's results in each of the three major segments of its business," said Darwin E. Smith, president and board chairman. LA CROSSE, Wis. (AP) -Trane Co.

has announced purchase of about 56 acres near Burlington, Iowa, to "provide Trane's Murray Division with a site for substantial expansion in the future," Vinson R. Simpson executive vice president, announced MILWAUKEE (AP) Northwestern Mutual Life Mortgage and Realty Investors report net income for the first six months, ended Sept. 30, of 87 cents per average share outstanding, compared with 64 cents for the same 1971 period. Net income was reported at $3.86 million, compared with $1.8 million for the 1971 period. RACINE, Wis.

(AP) I Case Co. has announced appointment of Louis J. Pitney as marketing services manager of Latin American operations. Purchase stock MINNEAPOLIS H. C.

Piper, chairman of the board of Piper, Jaffray Hopwood, Inc. announced that Piper, Jaffray Hopwood Employes Profit Sharing Trust has purchased 26,715 shares of the firm's common stock at a price of $12.50 per share. The shares, purchased on the Midwest Stock Exchange, represent slightly in excess of two per cent of the outstanding common stock. Ophthalmology meet held in Wausau Volkswagen Campmobile clude a free standing tent and pop-top roof. The front end of all Type II models has been redesigned with turn signals mounted high next to the fresh air intake grille.

The re-styled front also includes stronger bumpers that can absorb a five mile per hour front end collision and an energy absorbing deformation element behind the bumper. Volkswagen's versatile camper for 1973, now available with an automatic transmission as an option, does double duty as a recreational vehicle and family automobile. Equipment includes an icebox, convertible dinette bed, birch paneled cabinets, and two work tables. Campmobiles sleep a family of four or five. Other available options in to WBA post Wausau banker A Wausau banker was elected president of the north central Wisconsin chapter of the Wisconsin Bankers Association at a meeting held last week in Stevens Point.

Heading the group during the coming year will be Gerhard A. Borth, vice president of the First American National Bank, Wausau. Borth succeeds a Woodruff banker, Marty Rosholt. Elected secretary-treasurer of the group was Robert Savaske, executive vice president of the Citizens American Bank, Merrill. tour at the Eye Clinic of Wausau, 614 First St.

The doctors met again Sunday morning for informal discussion and a business meeting. Dr. Charles MacCarthy, of the Eye Clinic of Wausau, was elected vice president of the society. New president is Dr. John A.

Ottum of Green Bay. Thirty ophthalmologists from Wisconsin and Upper Michigan attended the annual meeting sessions. LIVESTOCK MILWAUKEE LIVESTOCK MILWAUKEE (AP) Friday's cattle market closed steady good to choice steers 32. 00-35. 00 good to choice heifers 30.50-33.00; good Holstein steers 32.SO-13.S0; standard to low good steers and heifers 2t.00-3t.00; dairy heifers 22.00-2t.OO; utility cows 2.

00-27. 00; canners and cutters 22.00-2t.00; commercial bulls 32.00 31.00; common 27.50-32.00. Calves: Friday's market closed steady; choice calves 62.00-44 00; good 54.00-62.00; common 40.00-60.00 culls 18.00 and down. Hogs: Friday's market closed steady; lightweight butchers 27.25-27.75, top 21.25; heavy butchers 25.75-27.25 light sows 24.25-25.50; heavy sows 22.00-24.25; boars 22.00 and down. Lambs: Friday's market closed steady; good to choice 20.50-24.00; common to utility I4.S0-20.50; culls 14.00-14.00; owes and bucks 1.00-5.00.

Estimated receipts for Monday: 1.300 cattle. 1,100 calves, 100 hogs and 100 sheep. Offset i PRINTING: i WHILE YOU i WAIT PRESTO-PRINTS 203 FOURTH ST. Phone 842-2226 Wausau Lectures on fluorescein angiography and corneal disease highlighted the annual meeting of the Wisconsin -Upper Michigan Society of Ophthalmology held in Wausau this weekend. Saturday, Dr.

Thomas M. Aaberg, associate professor of ophthalmology and director of the retina section at the Mecical Colleege of Wisconsin in Milwaukee, spoke on diagnostic parameters of fluorescein angiography during the afternoon session at Hoffman House Midway Motor Lodge. His talk was followed by Robert A. Hyndiuk, assistant professor in the ophthalmology at the Medical College, who spoke on current concepts of corneal disease. Saturday's session concluded with case presentations and a 65.0 24.7 75.1 21.1 27.6 24.5 32 3 40 2 139.0 390.4 16.1 51.4 M.4 29.1 24.2 15.7 42.5 9.0 13.4 9.1 17.0 23.1 43.2 34.7 11.2 71.1 49.4 32 6 23.5 75.4 34 4 45 0 1.2 Nor.

Am. Rockwell Northwest Air. Outboard Marine J. C. Penney Pepscio, Inc Pitney Bowes Polaroid Ouestor Corp RCA Corp Reynolds Metals Reynolds Tob Republic Steel SCM St.

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Steel Warner Lambert Westinghouse Wis. Elec. Pr. Wis. Pub.

Serv, Zenith 34.3 11.7 17.0 13.4 12 20 125 17 i 31.5 14.0 54 0 25.0 16.1 40.1 109.0 71.0 47.0 34.4 71.3 14.1 11.4 26.6 34 5 16.1 12.1 69 .0 44.6 41.4 15.7 21.4 94.0 42.7 23 7 17.2 41.6 ASK 4 4 24.4 10.4 5.0 11.0 STOCK AVERAGES Ind plus 11.21 Rails plus 2.59 Util plus. 11 4.620,000 New York Stock Prices Noon Quotes New Yoi Tinie Price decimals in Eighths Furnithed by Piper, Joffroy 4 Hopwood Motor Hotel Wausau Building -irrr- General Electric General Foods General Motors General Telephone General Tire Good Year Gould Inc Holiday Inns Honeywell Int. Bus. Mach. Int.

Harvester int. Tel. 1 Tel. Int. Tel.

Tel. Johns Manville Kennecott Kimberly Clark Kresge Lear Siegler Litton Ind Lockheed Magnavox Manpower Masonite McDon-Douglas Merck Minn. Mining Mobil Oil Montana Dak. Marcor MGIC Investors Nat'l Cash Register Kraftco Penn Central STOCKS Addressograph 30 4 Allis Chalmers 12 4 American Airlines 25.7 American Can 29.6 American Motors 1.7 Ampei 5.4 Apeco 7.2 American Tel. Tel.

13 American Brands 43.7 Anaconda 17.1 Bendii 43.6 Bethlehem Steel 27.7 Boeing Co 22.2 Bristol-Myers Co. 3 Brunswick 32.7 Burlington No 40.1 Burroughs Corp. 223.5 Chrysler 31.4 Cities Service 41.6 Common. Edison 35.2 Comsat M.2 Continental Airlines It 2 Control Data 66 0 Cox Broadcasting 40.4 Dart Du Pont 170.0 Eastman Kodak 13t.l Firestone 23.0 First Wis. Bankshares 40.1 Flying Tiger 37.4 Ford 5.3 General Dynamics 21.2 Volkswagen Type III for 1973 Big boautifulanswer toyour building problems: Stran's ncwHorizon Series building New flat roof profile Horizon Series buildings give you a contemporary appearence outside.

More usable space inside A wide range of dimension and layout options let you plan the building for your exact needs. See the Stran man about the new Horizon Series of big buildings. Phone 359-5707 RIB MOUNTAIN BUILDERS, INC. P.O. Box 55 SCHOFIELD, WISC.

54476 A TOTAL SERVICE Strfjl! FRANCHISE0 BUILDER synchronized transmission or a three speed automatic. A 24 month, warranty is also provided. 1973 versions feature the VW computer diagnosis which enables numerous tests to be conducted by a system of wiring in the car into which a computer is attached. The computer then prints out the test results. Volkswagen's Type III sedan and square-back models use electronic fuel injection instead of a traditional carburetor.

The models are equipped with disc brakes on front wheels and feature a pancake engine that allows a trunk in back and in front. The squareback has a front trunk and an expandable rear cargo area. Type Ills are available with either a four speed fully O-T-C STOCKS BID Apogee 4.1 Cent. Wis. Bankshares 25 4 Mosinee Paper 9.4 N.

Cent. Air 4.4 Wausau Paper 17.0 Volume -hi ti.