THE MICHIGAN DAILY
Friday, August 30, 1 968
. J --, a
DAILY OFFICIAL BULLETIN
(Continued from Page 5)
dball - All courts CLOSEDfor
.sing; open on September 3rd.
In Gymnasium - CLOSED for re-
lng; open on September 12th.
ker Rental - Main officeopen
ay through Friday, 8:00 a.m. -
.m. FEES: Students, $7.00 for two
sters; Faculty, $9.00 per year;
ty Squash and Tennis Club,
per year: Weightlifting Club,
per year; Boxing, Judo and Ka-
lubs, $7.00 per year; Daily Locker
1, $.25 per day.
letic Managers' Meetings - ALL
ags in Room 3A, Michigan Union.
thletic Managers must attend
respective meeting. Fraternity
on - Wednesday, Sept. 4th, 7:30
[ndependent Division - Wednes-
'ept. 4th, 8:45 p.m. Residence Halls
on - Thursday, Sept. 5th, 7:30
Graduate Division - Thursday,.
5th, 8:45 p.m.
tball Tournament - All-Campus
ty-Student Fast Pitch tourna-
Entry fee $5.00; all entries close
ay, Sept. 3rd at 5:00 p.m.; entries
d to a maximum of 64 teams.
a begin Wednesday, Sept. 4th;
tries guaranteed to play a mini-
mum of two games; trophies will be
Co-Recreational Activity - for stu-
dents, coeds, faculty and their wives;
Friday 7:30 - 10:00 p m.Swimming,
gymnastics and other activities as faci-
lities are available.
For Additional Information - call
663,4181 or 663-4182. The office is open
during all regular building hours.
TV Center programs: On Sunday,
Sept. 1 the following programs pro-
duced by the TV Center will have their
initial telecast in Detroit: 11:00 A.M.,
WJBK TV, Channel 2, "Ars Moriendi:
The Art of Dying. A medieval portrait
of death as found in paintings, wood-
cuts and writings of medieval times.
12:00 Noon WWJ TV, Channel 4: "In-
Out-Roundabout: ePople in the City."
Residents of a Detroit inner city com-
munity te of their struggle to restore
their neighborhood themselves rather
than abandon it to urban renewal by
History Department lecture. Professor
Arie N. J. den Hollander of the Uni-
versity of Amsterdam, will lecture on
"Cultural Diversity and the Mind of
the Scholar Tuesday, September 3,
8:00 p.m. in the West Conference Room
of the Rackham Building.
Center for Russian andgEast Euro-
pean Studies Panel Discussion: "The
Invasion of Czechoslovakia",' William
B. Ballis, Professor of Political Science,
Moderator; Zvi Gitelman, Assistant Pro-
fessor of Political Science, Ladislav
Matejka, Professor of Slavic Lang. and
Lit., and William Zimmerman IV, Asst.
Prof .of. Political Science, panelists:
Auditorium B, Angell Hall, Wednesday,
September 4, 4:10 p.m.
Ceeb Tests: The College Entrance
Examination Board Tests in French,
German, Russian, and Spanish will be
given September 4th, 7:00 p.m. in the
Natural Science Auditorimu. Graduate
students as well as seniors contem-
plating graduate study at the Uni-
versity of Michigan who have previous
foreign langyage experience are urged
to take these examinations toward
satisfying any type of doctoral lang-
uage requirements. Results may pro-
vide (a) immediate completion of re-
quirement, or (b) advanced placement
toward completion. No advanced regis-
tration; no cost to student; results
posted by roster in \Rackham Building
Lobby 48, hours after test administra-
tion. Individual scores are not released.
Doctorial Examination _for: Daniel
Mufson, Pharmaceutical Chemistry,
Dissertation: "Investigations of Surface
Properties of Cholesterol Particles in
Aqueous Dispersions, on Friday, Aug-
ust 30 at 10 a.m. in Conference Room
of Pharmacy Research, Chairman:
W. L. Higuchi.
Doctoral Examination for: Edward
Roy Sims, Music, Dissertation: "The
History o fthe Music Department of the
Indiana University of Pennsylvania and!
Its Contributions to'Music Education,"
on Friday, August 30 at 10:30 a.m. In,
Room 2277 School of Music, Chairman:
A. P. Britton
Doctoral Examination for: Richard
Jacob Smethurst, History, Dissertation:
"The Social Basis for Japanese Militar-
ism : TheCase of the Imperial Military
Reserve Association," on Friday, August
30 at 11 a.m. inFRoom 3609 Haven Hall,
Chairman: R. F. Hackett.
Doctarol Examination for: Samuel
Becker Grant, Jr., Near Eastern Lang-
uages & Literatures, Dissertation: Mo-
dern Egypt and the New (Turco-
Egyptian) Aristocracy," on Friday, Aug-
ust 30 at 2 p.m. in Room 201 Gunn
Building, 506 East Liberty, Co-Chair-
men: T. M. LeGassick and Richard
Doctoral Examination for: August
Llewellyn Burgett, Information & Con-
trol Engineering, Dissertation: "A
Study of Human Operator Performance.
Using Regression Analysis," on Friday,
August 30 at 3:30 p.m. in Room 1072
East Engineering, Co-Chairmen: L. E.
Fogarty, R. M. Howe.
BUREAU OF APPOINTMENTS
December and Spring Graduates:
Placement services are available to
anyone with 12 or more hours at
U of M. Hours of the Office are 8:30
-12 & 1:30 - 4:30 M-F. 3200 S.A.B.
Services include Career Counseling,
Teacher Placement, Govn't Career In-
formation and application procedures,
Summer Placement Service, a n d
Careers in Business and Industry,
Recruiting on campus by representa-
tives of the above throughout the U.S.
is done in the fall and spring. You
must give us your current address this
and every semester to receive weekly
recruiting date listings. Employers ex-
pect to see information on inter-
viewees, therefore we require at least
avita sheet, on our forms for dupli-
cation, from you. The advantages of
registering completely, however, are
much greater. Registration Meeting for
be held Sept. 17 at 3: and 4: PM, Angell
information on all these matters will
Hall. If you miss these meetings come
to 3200 S.A.B. Positions received con-
tinually by mail and phone are listed
in this D.O.B. under "Current Posi-
tions." Watch this column for all
Current Position Openings received
by General Division by mail and
phone, please call 764-7460 for further
B. F. Goodrich, Akron; Ohio: Engrg.
for Aztran dev., textile, tire dynamics,
wheel and brake, product dev., Che.
and BS/MS chem, organ, Phys, and
Anal., Syst. Anal. Air Pollution. Non
technical openings in editing, acctg.,
State of Vermont: Auditor, BA plus
3 yrs. Program Anal, BA plus 3 yrs.
RTsearch Spec., BA plus 4 yrs EDP.
Chief of Treatment and training, MS
Psych plus 5 yrs admin. Probation and
Parole Officer, BS and 2 yrs. Asst. Supv.
of Arts and Crafts, BA plus 3 yrs.
Edwards, Klein and Compton, Oron-
ton, Ohio: Librarian for Briggs Law-
rencePublic Library. MALS for libr.
housing 180,000 volumes, and serving
the branch university as well as public.
Blue 'Ridge Community College,
Weyers Cave, Virginia: Head librarian,
prefer man, MALS with some exper-
ience for new community college. Lib-
rarian needed also.
WolverinegWorld Wide, Inc., Rock-
ford, Michigan: Manufacturing of
shoes, and leather tanners seel. Plant
Engineerand Project Engineer, for new
construction, additions, changes in
manufacturing and physical plant, ME
degree and experience req. also Indus-
trial Engineer for time study, MTM
system,' major day work and projects,
ME, exper not mandatory. '
Bixby-Zimmer Engineering Company,
Galesburg, Illinois: Mechanical en-
gineers (2) who are Canadian citizens,
and one of whom is of French. bckrnd,
speaking rFench and Engl. interchang-
ably, for placement in the future in
new plant to be in Canada. Trng. of
approx. 1 year, leading to executive
Planned Parenthood, Detroit, Michi-
gan: Administrative Asst. for" duties
under supervisor to implement and
evaluate existing programs, BA/BS, in-
terest in humanities, no specific exper
ENGINEERING PLACEMENT SERVICE
128 H, West Engrg. Bldg.
Engineers: For full placement serv-
ice your "College Interview Form"
must be on file by Friday, Aug. 30. If
you expect to interview, obtain form
immediately from Engineering Place-
ment Service, 128 H, West Engrg. Bldg.
Find it with a
NEW YORK OP) - R e c e n t
government moves against the
misuse for profit of corporate
inside information indicates the
government is getting awfullyf
tough to work with or that things
are really bad in Wall Street. It
could be both.
Inside information, broadly
speaking, is private knowledge of
corporate affairs that s h o u 1d
be public knowledge. Generally
it is information which enables a
trader to buy or sell in advance of
a major change in stock prices.
The classic case involves Texas
Gulf Sulphur Co. Knowledge of
a big metal ore strike in Ontario,
the Securities and Exchange Com-
mission claims, enabled corporate
officials and friends to make a
stock market killing a few years
But there have been other less
publicized charges against insiders
and there is little doubt that what
reaches the surface is only a part
of the picture.
The use of inside information
is not an uncommon practice in:
the securities business. In fact,
such information is the goal of
securities analysts and the man-1
agers of today's big mutual funds,
In fact, there is a stock market
theory that the little guy is al-
ways wrong - that the time for
the professionals to sell is when
the little guy is getting worked
up about buying - that might be
at least partially based in how ill-
informed or belatedly informed
the little guy is.'
Now the rules are changing, and
the SEC is shouting it out: Cor-
porate information that involves
the fortunes of publicly held com-
panies should be made available
to all shareholders, not to a priv-
The SEC maintains that Merril
Lynch, Pierce, Fenner & Smith,
D. New York brokerage firm, ob-
tained information through a
privileged position with Douglas
Aircraft Co. that the firm's earn-
ings were going to be less than
had been forecast.
The brokerage house, the SEC
said, passed on this information
to some of its biggest customers
and enabled them to sell before
the knowledge became wide-
spread. In (addition, it continued
to accept orders for the stock
Government raps Wall Street
for use of inside infrain
*t Te: gg5
from other customers, the SEC
said. Merrill Lynch says it is inns.
cent of the charges.
Should these charges be proved
by the SEC in a highly publicized
case the result could be shattering
to the confidence of the nation's
24 million investors. But benefits
could accrue also If privilege is
Merrill Lynch isn't just another
broker. It is everyone's firm'i and
its 1.1 million customers may be
found almost everywhere. Its in-
fluence is widespread; its repu-
tation shines; its name, in fact, is
a household word.
It is regarded equally high1f
in. the execu'tive su'ite, for Mer-
rill Lynch recommendations about
a stock's value, and its ability to
sell the shares of corporations, has
helped build some of America's in-
dustrial giants. So. large and pow-
erful is it that it has been called
"The Thundering Herd."
The New York Stock Exchange
Guide lists 172 officers for the
firm, not just in large cities
throughout the country but in
some suburbs as well; not just in
the United States but in cities
such as Cannes, France and,
The case is bound to raise
doubts about the habits and
methods of brokers, for Merrill
Lynch has long held a very spec-
ial position in the investment
world. It has a reputation for en-
couraging and instructing small,
The SEC accusations strike
directly at this relationship,
claiming that Merrill Lynch per-
mitted large institutions to trade
on inside information while
withholding it from the rank and
This most recent case by the
SEC also brings up questions re-
garding the size, power and influ-
ence of institutions such as bil-
lion-dollar mutual funds.
In the performance game,
which requires that a fund: always
try to show at any onetime bet-
ter percentage gains than its
neighbor, the quest for.informa-
tion, perhaps even inside Informa-
tion, is part of the battle.
It brings up the question also
of the close association of corpo-
rate executives and large pur-
chasers of the firm's ,stock. In
this day of acquisitions it is ne-
cessary to keep high the price of
shares, and one way to do this
is to court the big funds.
What is it that the corporate
executives tell the funds that the
funds shouldn't already know
through the regular public in-A
Use of this . column for announce-
ments is available to officially recog-
nized and registered=student=organiza-
tions only. Forms are available in%
There's one reserved for you.
Pick it up today-
Wenk Sales and Service, Inc.°
310 E. Washington 665-8637
1112 South University
-7 v.,:,..:,: M.:.w.:::.........._ ..............
UNION - LEAGUE-
Watch for These Exciting Events:
8:00 P.M.-FREAK-OUT ON STATE STREET
Take a free trip to the beat of the charging Rhinocerous of Soul Band, 9 P.M. to 12 Midnight. Co-sponsored with the State Street
SATURDAY, AUGUST 31
1:00 A.M.-AUTO AND CYCLE ROAD RALLIES
MOTORCYCLE entrance fee: $1.00 per cycle and free'for members of the Ann Arbor Motorcycle Association. Co-sponsored with
AUTOMOBILE entrance fee. $1.25 per car. Each car must have a navigator and a driver.
8:30 P.M.-JUDY COLLINS IN CONCERT
HILL AUDITOR.IUM. Ticket prices: $2.00, $2.50, $3.00 at Hill Auditorium and at the LSD Depot. Good seats still available.
SUNDAY, SEPTEMBER 1C
2:00 P.M.-THE KING AND HIS COURT
Advance ticket prices are $1.25 for adults and $.75 for students and.are available at the LSD Depot. At the UM Baseball Sta-
dium. Adults, $1.50; students, $1.00; children 8 and under, free.
Sing on the grass until your mind's.content. Hootenany on Palmer Field. Bring your guitars.
MONDAY, SEPTEMBER 2
1:00 P.M.-LA Y-/N ON PALMER FIELD
Catch the sun's rays, live band for your listening and dancing enjoyment.
9:00 P.M.-OUTDOOR MOVIE
CEE' IlPD TH1E YUMY U VilM TDEE with Inr I- I ammnn nnA PA; Afm Ai n An e mt d+ +lr AAn-theM Rhinnn ,ehnll C+nriAhm \
Water from Lake Superior gushed into the newly-completed Poe
Lock, in the Sault Ste. Marie Locks complex yesterday. The $40
million super-lock is 400 feet longer than the the other Sault
Locks and is expected to lead to a new breed of ore freighters,
capable of carrying more than 40,000 tons of iron ore.
Make WAHR'S your
for all your textbook
and college supplies.
SERVING U OF M STUDENTS SINCE 1883
The College Republicans are holding
a picnic on September 1, Sunday at
1:00 P.M. All College Republicans are
invited. If you need a .ride, sign up at
Baha'i Student Group, Informal dis-
cussion and social: "What is the Baha'i
Faith?" Friday, August 30, 8:00 pm.,
520 N. Ashley. All Welcome. Call 662-
MADE & REPAIRED
209 South State
nded by molt major manufacturers, appeared on
or magazines and newspapers.
Internationally known and recomnmen
television, and featured in many ""a'
THE UNIVERSITY OF MICHIGAN offers a wide
selection of, excellent opportunities for full-time,
permanent employment. Choose from a variety
of interesting and rewarding positions including:
" OFFICE (Secretarial-Clerical)
" LIBRARY ASSISTANTS
*'DATA PROCESSING (Tab, Key-
punching, Programming Systems)
" OCCUPATIONAL THERAPISTS
* LABORATORY TECHNOLOGISTS
These positions are in a variety of academic, re-
search, patient care, and administrative units, lo-
cated on the Central Campus, North Campus, Med-
ical, Center and Willo~rw Run.'
Salaries commensurate with education and exper-
ience. Full fringe benefit program with wide op-