Leave It to Beaver (1957–1963): Season 5, Episode 38 - Stocks and Bonds - full transcript

[Announcer] Starring...

and...

[Beaver] What's that
stuff you're studying?

[Wally] Economics.

Economics?

Hey, that's all about
money and things, isn't it?

Yeah, and right now we're
studying about stocks and bonds.

Tough, huh?

Yeah, real tough.

Probably the
toughest course I have.

Well, why don't you go down
and ask Dad to help you?



Nah, Dad came
home tired tonight.

He might get upset if I went
down and bothered him now.

I'll just wait till he comes up,

and then I'll look like
I'm having a rough time.

Then he'll say,
"Well, here, Wally.

Let me give you a hand."

And then I'll say,
"Oh, gee, no, Dad.

"I don't want to bother you.

You've got enough
work of your own to do."

Then he'll say, "Oh, nonsense,

I'm never too busy to
help one of my boys."

And I'll say, "Okay,"
and we'll both be happy.

You know, Wally, you may
not know stocks and bonds,

but you sure know parents.



Well, glad to see
you boys hard at work.

How's the homework
coming, Wally?

Well, okay, I guess, Dad.

Except for this economics.

You know, I don't understand
how they expect you to learn

this stuff about
stocks and bonds.

Well, if you're stuck,
let me give you a hand.

Oh, gee, that's okay, Dad.

You got a lot of work
of your own to do.

Oh, that can wait.

I'm never too busy
to help you fellas.

You boys know that.

Boy, Wally, it works.

What's that, Beaver?

Oh, nothing, Dad.

Well, stocks and bonds, huh?

I always found that a
very interesting subject.

And useful later in life, too.

Dad, do you have
any stocks and bonds?

Yeah, a few.

Are we rich, Dad?

No, Beaver, we're not rich.

We're what you
might call comfortable.

Well, I guess if
you're not rich,

it's just as good
to be comfortable.

Say, Dad, what's
the real difference

between stocks and bonds?

All right, now, let me see if
I can clear that up for you?

A stock is a share in a company,
and a bond is an obligation.

Isn't that right, Ward?

Yes, basically, yeah.

Now then, let's take

a big company with
billions of dollars invested

in a plant, equipment,
merchandise.

Now, obviously no one
man has this kind of money,

so in order to raise
money, they issue stock.

And people buy the stock.

And in a way, they become
part owner of the company.

Lots of companies have
thousands of stockholders.

Isn't that right, Ward?

Uh, basically, yes.

How does a guy
make money in stocks?

Well, one way is if the
company shows a profit.

Then they divide this money
up among the stockholders.

That's called a dividend.

Of course, when
the stock jumps up,

you can sell it and
make money that way.

Boy, that's neat.

If you get the right stock,

you can make a
whole lot of money.

You know something?

It might not be a bad
idea if you fellows got

a little practical
experience with stocks.

Ward, are you suggesting
the boys go on the market?

Dear, that's just
what I'm suggesting.

Can we, Dad? Can we? Huh?

Yeah, that would be great, Dad.

I don't like it.

Well, why not?

It'll give the boys a chance
to really learn the workings

of our financial system

and maybe make
a few dollars, too.

I got $30. I'll got get it.

Now, wait a minute.
Wait a minute, Beaver.

We don't need it yet.

Now, let's see. Wally, you
have some money saved

from working
weekends, haven't you?

Yeah, I think I've
got about $50 left

after buying my
clothes and junk.

All right. Now then, suppose
each of you fellows puts up $25.

Okay, I'll go get it.

Beaver, we don't need it yet.

See? He's getting money mad.

Well, no, no, he's
just enthusiastic, dear.

Now then, suppose you
boys put up $50 between you,

and I match it.

That way you'll
have $100 to invest.

Oh, boy.

I think this can be
a good, solid lesson

in American business.

Who's going to
pick the stock, Dad?

Oh, well, I think your
father should do that.

No, no, I think the boys
should have a hand in it, too.

I'll tell you what.

You fellows read
the financial page

and any other
information you can get,

and then consider
it very thoroughly.

Boy, is this the way
Rockefeller started?

[Beaver] AT&T.

What's that mean, Wally?

Well, that's American
Telephone and Telegraph.

They're a pretty big outfit.

Let's buy them.

Gee, Beav, that
stock's pretty high.

With the money we've got,

we couldn't buy much of
an interest in the company.

But gee, Wally, it
would sure be neat.

Just think, every time
somebody sent a telegram

or called somebody
on the telephone,

it would be just like putting
money in our pockets.

Come on, let's
settle on something.

Hey, I got an idea.

What did I get?

An ad for a lost poodle.

That's no good. We got
to use our common sense.

Well, then in that case,
you're lucky I'm here.

Hi, Eddie.

Financial page.

Taking a plunge into the market?

Yeah, our father said
we could buy some stock.

We've got $100 to spend.
We're trying to pick one out.

Here's one, Wally,

and it doesn't cost
too much, either.

Which one's that, Beav?

The King Clean Company.

Boy, what a neat name.

That's a typical kid
thing. It has a neat name.

What do you know
about this outfit, kid?

Well, it's called King Clean,

so I guess they make
some sort of cleaning junk.

Yeah, and a little slob like you
could keep them in business.

Knock it off, Eddie.

I don't know about
that stock, Beav.

Hey, here's something for you.

Uh, Space Age
Labs. A dollar a share.

You could buy a whole
basket full of this stuff.

Yeah, what do you
know about them?

It's space-age, kid.
Where have you been?

This is the Space Age.

You can get in
on the ground floor

before they blast off.

Yeah, well, it's
partly my money.

I want the King Clean Company.

Boy, Beaver, are you dumb?

What's so neat about King Clean?

Well, it's better
than Space Age.

Wally, everything's
called Space Age.

Well, I bought a
sweatshirt the other day,

and it was called a
space-age sweatshirt.

Look, Beaver,

if you think I'm going
to put my money

on some kind of
junk called King Clean

when I don't even
know what it cleans,

you're flaky.

Hey, cool them,
man. I have an idea.

This is a list of
over-the-counter stocks.

Over-the-counter?
What's that mean?

It means they can be bought

although they're not
listed on the market yet.

That's where the
big killings are made.

If you know so much,
how come you're not rich?

I don't even think
you're comfortable.

What's the stock, Eddie?

Jet Electro, they
have a plant near here.

Hey, that's neat. We
could walk by after school

and keep an eye on our money.

Okay, Beav?

Okay, Wally.

I'll bet you're happy

because it's some of that
space-age junk you like.

Yeah, I'll tell Dad
in the morning.

And Beav, thanks a lot

for going along with
the space-age junk.

That's okay, Wally.

I figure if I'm
going to be rich,

it doesn't matter if I get rich
on King Clean or Space Age.

You see? You guys stick with
me, you'll be wearing diamonds.

Did you come to a
decision on your stock?

Uh-huh, we're going
to buy Jet Electro.

Jet Electro? I don't
think I ever heard of that.

Where did you find it?

Well, it's an
over-the-counter stock

that Eddie Haskell found for us.

It's only 50 cents a share,

and with the money we've
got, we can get 200 shares.

Well, that sounds
pretty speculative, boys.

I was hoping you'd pick
something a bit more solid.

Well, gee, Dad, we
gave this a lot of thought.

We couldn't afford
any of the real big ones,

and this sounds like it
might be in some kind

of space electronics
or something like that.

Yeah, Dad, and we can sit
back and wait for it to blast off.

Boys, this sounds
like a big gamble.

And you've worked
hard to save that money.

Well, which stock did
you choose for us, Dad?

Well, we didn't pick
anything, Beaver.

Your mother and I do
have a suggestion, though,

and well, shall we
talk it over? Okay?

Well, yeah, sure. Is
that okay with you, Beav?

Okay, Dad.

Well, fine.

We thought you might like to
buy Mayfield Power and Electric.

That's a solid firm, Beaver.

Well, they supply all
the power used in town

and most for the county.

You know, fellows, I know it
doesn't sound as appealing

at first as your Jet Electro,

but utility stocks have
always been a fine investment.

I think it's a very fine stock.

I guess we're
stuck with it, Wally.

Well, fellows, I'd like to
feel that it was your decision.

Well, does Mayfield Power
and Electric jump up a lot?

Well, no, I can't
promise that, Wally.

They're usually very steady.

Now, it probably won't jump
up, but on the other hand,

I think I can guarantee
that it won't drop a lot, either.

And Jet Electro?

Well, there's always the chance

that it might go
up like a rocket.

Then we should buy it.

Or come down like rocket.

Yeah, well, I guess we
better go along with Dad.

Hi, Wally. Hi, squirt.

Well, did you boy plungers
get into the market?

Yeah, my dad's
buying the stock today.

Jet Electro?

No, Mayfield Power and Light.

Mayfield Power and Light?

Are you weird?
That's for old ladies.

I thought we decided
on Jet Electro.

How did you get into this?

I'm surprised at you, Wally,

letting your father
push you around.

Not even letting you
pick your own stock.

It's your money he's
playing around with.

Look, Eddie, he's
not pushing us around.

He knows what he's doing.

Mayfield Power and Light.
There's no action there.

You got to go with
the swingers, man.

Look, knock it off,
will you, Eddie?

Yeah, or else this second
you'll be blasting off.

Hey, Wally, I saw
you pick up the paper.

Come on. Let's see
how our stock's doing.

Let's see. Mayfield
Power and Electric.

That's us. That's our company.

High... $25.

Yeah, that's what we paid.

Low... $25.

Change... nothing.

Nothing?

It just sat around all day.

Well, gee, Wally, how are
we going to make any money

if our stock just sits
around doing nothing.

Well, look, Beav, let's look
at the bright side of things.

I mean, well, after all,
we didn't lose anything.

Yeah, but let's not tell Dad.

We wouldn't want
him to feel bad.

Yeah.

Boy, maybe Eddie was right.

Maybe we should've
gone with a swinging stock.

No, well, Dad knows a lot more
than that dumb old Eddie does.

Yeah, but just think of
the mess it's going to be

if for once in his
life, Eddie's right.

You boys haven't mentioned
it for the last few days.

Mentioned what?

How your Mayfield
Electric and Power is doing.

Oh, that.

Well, don't you care
how your stock's doing?

Oh, yeah, well, we've been
checking it every now and then.

It doesn't do much, Dad.

It just sort of sits
around and does nothing.

Well, now, you were told

it wouldn't be an
overnight sensation.

Oh, that's okay, Mom.

You know, I think
you boys will find

a pleasant surprise in
the paper this evening.

Why don't you go check it?

Excuse me.

Good news?

Well, it didn't
exactly blast off,

but it did make a move.

[Wally] Let's see, Mayfield
Power and Electric.

Low... 25.

High... 25 1/4.

Closed... 25 1/4.

Gain... 1/4.

Oh, boy, it's really
starting to move.

How much did we make, Dad?

Well, let's see.

You have four shares
and it went up a quarter,

so you made a whole dollar.

A dollar?

That's not very much.

Well, I guess it won't be so bad

if they do that every day.

Well, I don't think
it'll do this every day.

Hey, Dad, is Jet Electro around?

Well, let's see.

Now, that was an
over-the-counter stock.

Yeah, here it is.

What was the one
you wanted to buy?

Uh, 50 cents.

It's up to 75 now.

Wow, boy, Wally, if
we'd have bought those,

we could've had 200 shares,

and each one would be
worth 25 cents more now.

How much would that be?

Well, 200 shares and
it went up a quarter,

so you'd have made $50.

Wow.

Uh, look, boys, I don't want
you to feel cheated about this.

These so called penny
stocks like Jet Electro

are very erratic.

Now, I checked this
thoroughly with my broker,

and he was against it
for a number of reasons.

Oh, well, that's okay, Dad.

I mean, the guy who's
ahead in the first lap

doesn't always win the race.

Isn't that right, Beav?

Oh, sure, Dad.

We're real happy
with Mayfield Power.

It's just like that
story about the race

between the
tortoise and the hare.

I hope.

[June] Mayfield
Power and Electric...

No change.

Jet Electro... up a quarter.

Up a dollar.

Still no change.

Mayfield Power...
still the same.

Jet Electro... up a half.

Jet Electro is still going up.

It sure is.

I was sort of hoping it would
take a nose dive by now.

Oh, honey, I don't think
the boys can blame you.

After all, you don't have
any control over the market.

I know, but it's bound
to take a little of the shine

off the whole father image.

We hide the paper.
Tell them it didn't come.

Well, it's a very enticing idea,

but even if the
tune's a little sour,

I think I better face the music.

We should have
a pretty good team

if we work out a little more.

Yeah, I can't wait for
the season to begin.

Hi, Mom, Dad.

- Hi, Mom. Hi, Dad.
- Hi, fellas.

We just wanted
to check the paper.

Yeah, we want to
look at Jet Electro.

I thought you boys
bought Mayfield Power.

Yeah, but that
doesn't do anything.

Jet Electro's
got all the action.

Yeah, Mom, so we
look at Jet Electro,

and then we figure out how
much money we could've made.

Where's the rest of the paper?

Oh.

Well, thanks, Dad.

Wow, Beaver, it's up to 2 1/2.

Boy, Dad, if you'd have let
us buy that when we wanted to,

we could've been
millionaires by now.

Oh, now, Beaver, you know you
wouldn't have been millionaires.

Don't give up yet, boys.

I still have faith in
Mayfield in the long run.

Remember, Beaver?

Well, you yourself said
the tortoise won the race.

Yeah, Mom, but I sure wish

this turtle of ours
would start moving.

Oh, Mr. Cleaver.

I'm sorry, Eddie. Come on in.

Oh, your door was open,

so I took the
liberty of entering.

Oh, well, now, our door's
always open to you, Eddie.

Uh, I wonder. Are the
young fellows at home?

Yes, the young fellows
are up in their rooms.

Oh, well then, you'll excuse me.

It's a pleasure.

Mrs. Cleaver, you've done
something new to your hair.

Not a thing.

Oh, it looks very nice.

Sometimes that kid
gets under my skin.

Sometimes I think
he's a very nice boy.

Oh, so your pop led you
down the garden path.

What are you talking about?

Been keeping my
eye on the market.

Mayfield Power certainly
isn't the blockbuster.

It's doing okay.

If you'd had bought
Jet Electro as I advised,

you'd be sitting in clover.

If you'd have listened to
me instead of your pop,

you'd be the electronics
king of Mayfield today.

Oh, well, it's your money.
Easy come, easy go.

Look, Eddie,
knock it off, will you,

before I throw you out of here?

There's no need for violence.

I never thought
you'd be a sore loser.

Boy, what a dodo.

Yeah.

Hey, Beav, maybe Dad
would let us switch the stock.

Yeah, Wally, but let's
break it to him easy.

We don't want
him to feel too bad.

Well, Eddie didn't stay long.

Long enough.

Say, Dad, could we
speak to you a minute?

Sure, what's up?

Well, we don't want to make
you feel bad or anything, Dad,

buy we think Mayfield
Power and Light...

Well, it's sort of
a dopey stock,

so you see, we'd like to
trade in on some Jet Electro.

Well, that is if it's
okay with you, Dad.

Uh-huh.

You feel the same way, Wally?

Well, I don't know
about it being dopey,

but that other stuff sure
is making a lot of loot.

Well, I'm sure that in time,
Mayfield will do all right, too.

No, boys, it's your money,

and perhaps I should've let you

go your own way
in the beginning.

I'll make the
transfer on Monday.

Uh, well, you're
not mad, are you?

No, of course not.

Well, thanks, Dad.

Boy, Mom, now
we're going to be rich.

I'll buy you anything you want.

Oh, hi, honey.

Hi.

Uh, where's the paper?

It's in on the big chair.

You sure you want to look?

No, I'm not at all sure.

You know, it's an awful feeling

hoping the boys' stock's
going to do a nosedive.

I feel very selfish about it.

I'm sure it'll
turn out all right.

Jet Electro's up
to $3.00 a share.

They made money since I
bought it for them yesterday.

Oh, Ward, don't feel too badly.

Oh, I don't.

Matter of fact, it's
sort of reassuring

for my old age to know we have

a couple of financial
geniuses in the household.

Boys, right after breakfast,

I'd like you to get
busy in the yard.

I want it weeded, clipped,

and all the trash
piled together.

Hey, Dad,

now that we're making so
much money on our stock,

would it be okay if we hired
somebody to do it for us?

No, Beaver, it
certainly would not.

Boy, I'll bet other
big stock operators

don't have to weed lawns.

Beaver, you might as
well realize right now

that you are not a
big stock operator.

You're a member
of this household.

You will do as you're told.

Yes, Mom.

Say, Dad, did you
happen to notice

that the stock went
up again yesterday?

Yes, Wally, I
happened to notice.

Listen, fellas,

I hope you don't get
carried away with this stock.

You know, there's always
the possibility of a bust.

Oh, gee, no, Dad.

Not with all the defense
contracts around.

Especially in missiles.

I mean, after all,

we're not going to
the moon on electricity.

June, come here a minute.

What is it, dear?

Uh, listen to this.

I think the ax has fallen.

"The defense department
announced today

"the cancellation of
a series of contracts.

Among the firms in this
area affected are Jet Electro."

Oh, honey, how does
that effect the stock?

Let's see.

Down to 75 cents.

The boys are going
to be heartbroken.

Well, maybe they'll
learn something from this.

Oh, I know, but I hate to
have them learn the hard way.

Yeah, I know. And
sometimes that's the only way

we can learn a lesson.

Hello, boys.

Hi.

Hello, fellows.

You tired?

No.

We're ruined.

Yeah, Eddie just
showed us the paper.

We're wiped out.

We bought our stock for 2.50
and now it's down to 75 cents.

Eddie said by tomorrow,
it'll drop out of sight.

Is he right, Dad?

Well, I'm afraid he
may be this time.

When a small company
loses a major contract,

it can be disastrous.

Boy, Dad, you were right.

We never should've gambled.

Boy, that dumb old Jet Electro.

Oh, boys, don't feel so badly.

Next time you won't
make the same mistake.

There won't be any next
time without any money.

I learned one thing...

I'm never going bet
on that rabbit again.

Why don't you check
Mayfield Power?

Gee, Dad, don't rub it in.

Oh, I'm not rubbing it in. It
couldn't do any harm to look.

It's up half a point.

Boy, Dad, we
should've listened to you.

Do you really mean that?

Boy, do we. And how.

Well, then you do own some.

I gave my broker an
order to sell Jet Electro

if it dropped below 2 1/2
and buy back Mayfield.

You did?

Boy, thanks a lot, Dad.

Then we're not broke?

No, I'd say you're back

just about where
you started from.

Boy, Dad, I'll bet

you're the smartest
guy in the whole world.

Well, it's nice to hear
you say that, Beaver,

but I'm far from being

the smartest guy
in the whole world.

However, I do think I've
had enough experience

to give you boys a little
good advice now and then.

Boy, from now on,

I'm going to listen every
time you say anything.

Oh, I think that's
asking too much, Wally.

I expect any father would
settle for every other time.

Just wait till we rub this
in on dumb old Eddie.

Well, dear, looks like the
shine is still on the father image.

Yeah, it feels pretty good, too.

When your sons think you're
smarter than their friends,

you know you've
really got it made.

Boy, Beav, that was a close one.

For a while there, I
thought we were broke.

Yeah, I thought we'd end
up living in the poor house.

Don't be silly.

Yeah, but it was still close.

Aw, good night, Beav.

Good night, Wally.

Hey, Beav, aren't you
going to turn the light out?

No, I thought I'd let it burn.

Yeah, but electricity
costs money.

Well, sure, we own a
hunk of the power company.

I'm just doing
like the Bible says.

You know, about
helping yourself?

Yeah, I guess you're right.

Good night, Wally.

Good night.

Closed-Captioned By J.R.
Media Services, Inc. Burbank, CA