$35,000 Stock Loss Child’s Play

Wall Street was no place for children last month, especially for a 15-year-old British boy who, by wielding terminology he had mastered in economics class, was able to purchase $175,000 worth of stocks on credit. Now his family may have to pick up the tab for $35,000 in losses that London brokers handling the boy’s stock suffered in the wake of the record market crash. Police investigating the case said they were surprised by how easily the boy was able to enter the world of stock investments. “The point is that when new customers open accounts there has to be a certain amount of good will on both sides,” said stockbroker Michael Somerset-Leek of the orders placed by the unidentified boy, who had been posing as a 19-year-old businessman. At the time of the sale, a check by a London stock exchange credit bureau found the boy had no previous debts and cleared his credit requests, and the youth had boasted to school friends: “I’m on my way to a million.” “He is a charming boy who has developed an interest in City (financial) affairs,” commented the headmaster at the school where the would-be investor learned the tricks of his stock trades.

--They tried hiring men, said the editor of an Illinois newspaper staffed only by women, but they either spent too much time gabbing or thought the work was too tough. So the Bourbonnais Herald, circulation 5,000, isn’t going to make any changes in its all-female staff of 15, which includes editor-publisher Toby Olszewski. The newspaper had a male ad salesman, but Olszewski said he spent too much time calling on clients who happened to own bars. And a male reporter worked only one morning and left a note at lunch saying the job was too tough. Another male was hired, but he never even showed up for work. Many of the positions at the small-budget paper are part-time, and women also are more likely to take them because they need the flexible hours to have time for their children, the editor said. “Kids come in and out of here like it’s their home,” she said.

--Jessica McClure not only became America’s sweetheart after her daring rescue from a Midland, Tex., well, she also became the choice of scores of Houston voters for mayor of the city in write-in votes tabulated in elections in that Texas city last week. Other popular write-in votes were Marine Lt. Col. Oliver L. North, cartoon characters Garfield and Mickey Mouse, former Houston Oilers coach Bum Phillips, former Oilers running back Earl Campbell and famed leviathan Moby Dick. But the official winner was incumbent Mayor Kathy Whitmire, who won a fourth term by defeating six opponents with 73% of the vote.