The major focus of this study is upon the operation of the occupational experience of father, wife, and the friendship network of the father in forming childrearing values of Negro and white fathers of lower, working and middle status. Beyond this, the relationships between childrearing values and paternal participation in the son's development are examined, as is the relationship between childrearing values and son's achievement. A sample of 448 black and white male heads of household with male children between the ages of 5 and 21 were included in the analysis, the data for which were obtained from a semi-structured interview schedule. The findings indicate that: (1) although occupation and childrearing values are significantly correlated for both Negro and white samples, occupation exerts an independent influence upon values among Negroes only; and (2) among Negroes, financial stability both in the present and over generations is very important as an explanation of variation in achievement levels. (TL)