THE OXFCIGAN DAILY
LLKWAY :f OXFORD ECONOMIST:
Steel Link Started at Medical Center
British Tight Money Hits
Small Business Policies
An Oxford University economist businessman who complains about
now visiting the University says taxes may not recognize that the
that tight money policies compar- taxesnmant cogizentht the
abl tothoe nw f~ltIn he1government's commitment to full
able to those now felt in .theemployment and other ecgohmic
United States have forced about policies helps maintain a large
one in three British businessmen market forhis goods."
to cut their inventories or delay -mae t ioFds
capital expenditures.j Additional Findings
Tw6 other findings from the
According to Harold F. Lydall, survey were of interest.
senior research officer at the Ox-' While comparable statistics are
ford Institute of Statistics, half not available, the study produced
the firms who took action because some evidence that the rate of
of tight money reacted to its effect industrial turnover is a good deal
on consumer buying. lower in Britain than here.
In Britain, he notes, government Many of the firms studied had
regulations concerning credit pur- been in business 50 years or more.
chases affect buying more directly The proportion of new firms, on
than is the case here. the other hand, was probably less
Survey Data thatn would be found here.
A surprise finding In the survey In comparing attitudes of vari-
of small and medium-sized manu- ous managers, it was found that
facturers was that half of them the most ambitious in planning
had not borrowed from banks in their ms futu.
the preceding five years.their firms future
"Especially among the smallest Lydall based his conclusions on
firms, there was some evidence a representative sample of 876
firs, her wa soe eidecefirms employing less than SOO
that business managers were op- .ersons each. Findings will be pub-
posed in principle to borrowing lished this fall he indicated.
from banks," Lydall said. _shdths _a_,heidiatd
"The major and almost exclu-
sive source for capital in the small
firms was their earnings. on
"One factor which probably con-
tributed to this attitude was the
large proportion of family-owned s tre
or controlled firms.
This group comprised aboutFor Pagans
two-thirds of those interviewed.
"The fact that the small British
manufacturer finances much of If a pagan adopts a religion of
his growth from earnings helps a foreign people, he will under-
explain the often-voiced protest stand it in novel terms, familiar
that high taxation 'robs' him of only to his group,' says Prof. Hor-
his means for expanding. ace M. Miner, University sociolo-
"This is both a psychological gist and anthropologist.
and a real handicap to the small "To understand any belief," fie
businessman, especially in com- says, "means simply to relate it to
parison with larger firms who are other things which we know and
accustomed to financing a good believe. That which is religion to
deal of their expansion through the West African is superstition to
security offerings or bank loans. the American. That which is ra-
"On the other hand, the small tional medicine to the American
is regarded as maie h the na-
AERIALWALKWAY - Work. has started on vital link.
little modification of the arrange-
The new location for these de-
partments will be of aid in the use
of the natural history displays in
the University Museums directly
across the street for teaching pur-
Long Range Plans
The Natural Science building,
present home of the $iology and
Zoology departments, will be taken
over entirely by the School of
Long range plans call for the
central campus area to contain
only literary and graduate schools,
the Medical Center,, the medical
and Nursing schools and North
Campus and professional schools
such as engineering, music and
A BUSY TWO WEEKS:
Special Courses Slated
On Industrial Subjects
Intensive courses in production
machining, computer and man-
agement sciences, the nuclear re-
actor, radiations in industry, and
automatic control are being offered
during August and September by
the College of Engineering.
Designed for practicing and
graduate eiginee1s both in indus-
try and in military installations,
the courses are being taught by
University faculty and visitinr ler-
from Aug. 19 , to Aug. 30. Prof.
H. C. L. Collatz, of University of
Hamburg, Germany, will be a
Prof. Edward Teller of the Uni-
versty of California will present
the banquet lecture in the com-
puter conference on Aug. ,29. Some
290 persons enrolled in the com-
puter courses are expected -to at-
v.1V1~u lt~ayUzu iaulg u;-err To Direct
turers from here and abroad.e
Students will take part in lec- Third in the series "Nuclear Re-
tures, classroom work and appli- actors and Radiations in Indus-
trs classoonewrknd ppli- try," will be directed by Prof.
cation of engineering principles William Kerr of the electrical
in various laboratories and at the engineering department.
Michigan Memorial-Phoenix Pro- It will be held Aug. 19 through
ject. 30, with 45 persons enrolled at this
Course Continues time.
The first course, "An Engineer- The final course, which is being
ing Approach to Production Ma- repeated from one given in June
chining," will continue throtigh of this year, will be on "Automatic
Thursday, Aug. 22. About 15 stu- Control." It will meet from Sept.
dents have enrolled for the course 3 to Sept.' 11 under the direction
directed by Prof. Joseph A. Sween- of Prof. Lawrence L. Rauch of the
ey of the mechanical engineering aeronautical engineering depart-
The second group of courses is Approximately 110 persons are
a series covering computer and scheduled to participate in this
management sciences, and will run course.
JOSE MERRER IN
"CYIRANO BE BEIRGERAC"
.,N W -'9
Per ection in 7 modern ooling -
Ca high as
the skies I
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