4
The
ollin . Louis Harris of the "Harris Survey" advis(1s, for the
first time since '71, 54 of the people feel this nation is now in a recession. He re-
ports "the key" to the public's reasoning is galloping inflation plus growin{; unemploy-
ment •••. John J, Houghtaling, pres,, Magic Fingers,Inc., Miami,Fla., announced coded
card used instead of coin which activates firm's "Bed Relaxing Uni ts" to be :.ocated in
hotels and motels, will also be available on licensing arrangement for other products
that desire to use this card instead of coin chutes . ••• Florida legislatur1~ in Talla-
hassee heard the results of a study on legalized casino gambling on Feb.26 f :om sub-
committee headed by State Rep. Ted Cohen of Miami Beach,Fla •••• Bally's hiato:rian,
advertising and public relations director, Herb Jones, sent us most complete de3cription
of 1934 picture we mailed to him. (If Herb still has the pie and returns it, we'll pub-
lish it with his comment.) ••• Justin J. Goldsmith, chairman of the board a.~d president
of All-Tech Industries, Miami Lakes,Fla., reports net loss of $10,621 for fiscal year
ended Oct.31,'73. Sales were up to over $21 million compared to '72 sales of over $18
million and a net loss of $153,272 in fiscal '72.
Question most frequently asked, "What's happening to vending?" (Vending is in horrible
price-profit squeeze. Not only are prices of new equip't at all time high but prices of
merchandise have soared and going higher. Inflation and energy crisis have zoo~ed cost of
servicing causing profit factor to fall to treacherous low point. Only those well diver-
sified will be able to ride out this crucial period in vending history.)
We felt very, very sad when we read of the passing, Feb.15,'74, of one of t~e finest
gentlemen we've ever known. One of the true pioneer arcade operators, Max Schaffer of
New York. Max had been partners with the late Bill Schork and these two, do~n on old 14th
Street in New York had a third partner in their very first arcade, the late Louis B.Mayer
of MGM. When they showed their first silent movie as an added attraction in thE!ir arcade,
Louie Mayer proclaimed this "the business of tomorrow". Sold out to Bill anc.. M&x and went
into the movie business. The rest is history. It was Max and Bill who opene~ the first
arcade on Brodway at 50th St. The arcade is still there. After Mayor Fterel:.o H.LaGuardia
banned pinball, Bill Schork was so upset he personally went up to see the "Little Flower".
It wasn't too long after this that Bill Schork passed away from a heart attuck which many
attributed to aggravation due to the pinball ban. Now Max Schaffer at the age of 83 has
just passed away from a heart attack. Could it possibly be the Good Lord wants men of
such heart to sit by his side?
You read about it in your daily newspaper, heard it on radio, saw it on 'fV, that whole-
sale prices zoomed this past January, according to the U.S.Bureau of Labor. Tht3 3.1%
jump raised consumer prices as much as 1af, for a great many necessities. Th.it aort of mad,
galloping inflation means your dollar has fallen to the point where it take~ s :~ to buy
what $1 used to buy in the basic economy year of 1939. Raw materials and co npo11ents will
follow the same price rise. Mfrs will pay anywhere from 5% to 15% more for these. Which,
in turn, means prices of new equip't will go up 2afo to 25% and maybe more b3fore this
year is over. (Do you know a better reason for "2-Bi ts Play" plus a more eqJ.i t .able share
of the gross take? Like what coin dividers set at 2 to 1 can bring - 66 2/3~ to the oper-
ator - 33 1/3% to the location. If you do let's hear from you. Write now: Marketplace,
185 N. Wabash, Chicago 60601.)
What Are Your CLOSING DAYS?
All issues of "Marketplace" close on the 10th of each month. For example:
the next, March 30, 1974 issue of "Marketplace" will close all advertis-
ing on March 10, 1974.
All issues of the "Interim News Report" close on the 25th of the preced-
ing month. For example, the next, April 15, 1974 issue of "Interim News
Report" will close on March 25 , 1974.
RUSH YOUR ADVERTISING TO: MARKETPLACE, 185 N. WABASH AVE., CHICAGO 60601
All Phones: 312/726-6799.