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August 10, 1955 - Image 4

Resource type:
Text
Publication:
Michigan Daily, 1955-08-10

Disclaimer: Computer generated plain text may have errors. Read more about this.

THE MICHIGAN DAILY

VTERVIE WING TROUBLES:
Research Center Studies Family Saving'

Education Group Plans
Ann Arbor Conference

By ERNEST THEODOSSIN
Workers at the Survey Research
Center have been studying finan-
cial spending and saving patterns
of American families.
Financed by the Federal Reserve
Board, the study has introduced
the use of attitudinal data into
economic analysis. "One of our
basic principles," S. Scott Maynes,
study director at the center, ex-
plained, "is that people not only
act on the basis of their objective
economic system, but they act also
on the basis of their attitudes, ex-
pectations and aspirations."
The study has partly concerned
itself with the "spending cycle."
"Before marriage there is hardly
any saving," Maynes said.

,"

"After an individual marries, he
begins to invest in durable goods.
At about the age of 45, he will
start paying off mortgages. There-
after, liquid savings are most com-
mon, until the age of about sixty,
when most saying generally stops,"
he said.
The study, in operation since
early 1946, changes its emphasis
often to uncover new and perti-
nent data.
Some of the findings:
1. Lower class individuals do
not make up the bulk of install-
ment buyers; instead, semi-skilled
workers use this purchase method.
more often.
2. About 35% of the population
saves by paying off mortgages.
3. Approximately 7 or 8% save
through stocks and bonds, stocks
being an important interest of
upper-class families.
Pre-established Sampling Method
Using nearly 3,000 spending
units from 12 metropolitanareas,
the study selects different respond-
ants each year by a pre-established
sampling method.
Since the field workers are told
to get the interview if at all pos-
sible, the operations often entail
unusual occupations. Crawling up
.to tenement homes on fire-escapes.

or ford'ing a muddy creek may be
part of a day's work.
"One of our interviewers,"
Maynes said, "was picked up in
Texas after somebody was mur-
dered. The interviewer had been
the last person to see the individ-
ual alive. Of course," he added,
"the interviewer was released."
Housewives Interview
Generally selected from a list of
local housewives with interviewing
experience, the interviews are con-
ducted on an conversational basis.
About 85% of the respondants are
men, usually the family unit head.
"When the study first began,"
Maynes said, "the Federal Reserve
Board was wondering what con-
sumers were- planning to do with
the tremendous amount of money
they had put into savings and
bonds and how this would affect
our economy.
"The early .urveys showed that
consumers generally hold on to
their bonds.
"Another thing we learned is
that in the inflationary, post-
Korea days, consumers resisted
price increases," he said.
Although the 1954 study revealed
a belief that lower demand would
prevail, early 1955 returns indi-
cate increased' optimism and more
buying.

Some 350 womien from through-
out the nation are expected to
attend the 19th biennial council
of Pi Lambda Theta, honorary
association for women in educa-
tion, at the University August 23-
26.
They will represent 77 college,
university, and alumnae chapters.
Hosts for the event will be the
'U' Has Powerful
Radioactive Gold
The most powerful radioactive
source ever released to a non-gov-
ernmental laboratory now is in use
at the University in research on
combustion.
The metal is gold and was 100,-
000 curies in strength when it was
delivered by the Air Force.

chapters at the University and
Wayne University, and the alum-
nae chapters of Detroit and Toledo.
Keynote speaker for the confer-
ence which will have community
service as its theme will be Dr.
Laurentine Colline, director of
community services for the Detroit
Board of Education. Her address
is scheduled for 10 a.m. Aug. 23.
in the Rackham Amphitheater.
Dean Ralph A. Sawyer of the
graduate school will discuss
"Peaceful Uses of Atomic Energy"
at the banquet in the Michigan
League Ballroom at 6:30 p.m. Aug.
25.
Participants in the Aug. 23
luncheon at Stockwell Hall, where
delegates will stay, include Jack
Elzay, Ann Arbor school super-
intendent. All women school prin-
cipals in Ann Arbor are Pi Lamb-
da Theta members.

Europe Likes
"lee Clu's
J.S. Music
Europeans like American music.
This is a definite conclusion
eached by the Men's Glee Club
fter a month-long tour of the
ontinent.
Audiences in the Netherlands,;
-ermany, Austria, Italy, Switzer-
mnd and France were enthusiastic
bout the American folk songs,
roadway hits and college songs
hich the group presented under
he direction of Philip A. Duey. All
f the selections featured on the
>ur were especially arranged by
rof. Duey.
The precision singing of intri-
ate numbers by the Glee Club was
cause of some wonderment by
he Europeans, Prof. Duey reports.
horal music in European colleges
nd universities is confined to in-
>rmal.singing groups, he has dis-
overed.
European and
American Hairstyles
Our Specialty
" 6 Stylists
" No Appointments needed
" Air Conditioned
The Daseola Barbers
Near Michigan Theatre

-211

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