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- . I ■ Page Two THE CLINTON CHRONICLE Thursday, February 21, 1957 Anderson on Committee Seeking Plywood Quota AjTeTTart will bo made to have| the CamgTejp fix a quota on 'im ports of-foreign plywood. L.. W Anderson, ipresideht of Standard Ply woods. Inc. said on-his return fr<Hn Washington this week. Mr' Anderson is a member of , the newly organized Hardwood Plywood Manufacturers commit tee. The group, composed of lead ing hardwood plywood and veneer, executives,, is seeking relief for plywood plants from excessive competition from imported .ply- wtxKis. .According to information .presented to the committee, Mr. Anderson said, certain _ (plywood plants already have been closed down, paralyzing their communi ties, and others are faced . with closing. , Uunng 'his stay in Washington, Mr Anderson attended^ dinner at which a number oi leading mem bers ol Congress wehe guests, in cluding Congressman Riley, Con gressman Aslunore and Senator Strom Thurmond. Mr Anderson pointed out that! imports of Japanese plywood alone have increased more than • 4,000 per cent since 1951. This reaches .‘American markets a below domestic because of cheap JapaneseHabor. Japanese' plywood workers are paid 1! cents per hour, Mr. An- rierson said, in contrast to a legal minimum of $1.00 here. This makes the labor exist of Japanese plywood ixniH to about $4.17 per 1.000 square feet in comparison to a little ix'tter than $30 in Amen- — 1 —- Although consumption of ply- wood in the United States has in- iteased 74 per cent'since 1'951, American plants were able to cap ture only six-tenths of one per j Market Quotations Of Local Interest Quotations of local interest. .Courtesy of Wolfe and Addison, Investment Dealers.) cent of this increase because of foreign competition. The manufacturers *commil/ee urged setting a quota on foreign plywood importation at 15 per cent of domestic consumption. It plans to conduct an educational campaign and present the issue to the Congress ' WASHINGTON AND " r a ji a i i SMALL BUSINESS” By C. WILSON HARDER Sheely Gets 50-Year Emblem For Service With Seaboard Road Olin H. Sheely on Thursday was presented a diamond-studded emblem denoting the 50th anni versary of his service with the Seaboard railroad. The presentation was made by Julian Bell. Clinton agent for the Seaboard, at the railroad's offices here ' Mr. Sheely began his career with the Seaboard in December, prices far. irodticnon 1 uo~stg'' Congress will again this ses sion consider a multi-billion- dollar federal aid to schools bill. * * * Nation’s small businessmen, in previous expressions of opinion through National Federation of Independent Business, have op posed this plan to further infil- trate local! affairs with! Washington bu-l reaucracy. t. * * * fl N a -t i o n ’ s M independent businessmen are not insensi tive tq need for more school facilities. As a class, local c. W. Harder businessmen, with a stake in their Communities, take a much greater interest in civic affairs than most. • * * But it is well known one dollar spent at local level will do the work of at least two dollars fil tering down through a Washing ton bureau. And this is not the time, it is felt, to create any more federal spending bureaus. Rather, it is time to cut down, or eliminate them. * • * Because despite all propagan da consumer buying and install ment credit have created infla tionary pressures which govern ment now seeks to control through destroying credit, government it self is creating inflation. * * * In year just ended, gross na tional income was approximately $334 billion. Total governmental expenditures, federal, state and local, accounted for about $114 billion. Thus, governmental ex penditures equalled over one- third, or 34^, of'total national Income. Many outstanding econ omists claim when any nation has reached a 25 r o ratio, eco- i nomic collapse has followed. • * • Significantly.’' while in many areas, school needs are critical, fc' Nanonal KV I rartT n • f Indfp**n ifnt IVusIuk* federal government throws money around in global WPA schemes. To get this money to squander, federal government usurps sources of revenue local government would ordinarily tap to support education. * • • The situation is serious. Tru man administration failed to stop march of inflation. Elsenhower administration has also been in effectual in this direction. • * • Purchasing power of dollar lu>s hit the lowest point in histonQ, since Revolutionary Days. Last~ October. Consumer prices hit all- time high, going up almost 18% over 1947-49 level. / * * * It is also important to consider that 19p6 was banner year as far as iny'omes were concerned, yet .governmental spending equalled 34% of that high level. With even a slight recession, or a slight in crease in governmental spending, governmental expenditures could easily equal 50% of national in come, sending dollar down even further in value. • * * Thus, if Johnny or Susie does n’t have a desk to sit at in school, there may be some parental solution in fact money that have bought that desk went seas to help some foreign’mo nopoly get an even tighter stran gle hold on world's economy. Perhaps price of that desk equalled cost of one U. S. donated bomb England dropped on Egypt, blowing sky high Egyptian equiv alent of little Johnny who didn’t have a desk, either. * * * . Congress could help the school children of the nation immediate ly. But that help will not come from pouring billions into a new federal bureaucracy. That help will only come from cutting down on federal spending so that local governmental units can raise money to take care of vital, es sential American needs. The problem is .quite elemental. Business Leaders Urged To Make Their Voices Heard in Washington Bid Ask Amer. Mernta 44, 25\ 46 Col. Store's 26 3 4 (‘len.- .Amer. Oil 37 4 38 3 4 Lone Star Steel 28 29 Sonoco 27 ■274 Teaxs Nat. Gas 57 3 4 604 Unit. Amr. . 3*8 , 34 Winn-Dixie 191 4 194 (imt. Accum. Fund 10.81 11.75 Unit. Cont Fund 7.81 8.54 Unit Inc. Fund 965 10,48 Unit Sci. Fuxxdif 10.41 11.38 Canadian., ( . McD. Aircraft-/ 15.85 ‘ 39 17.23 Supplied Merrill Lynch, Pierce, Fenner and Beane at 1:40 p. m., Feb. 19, 1957. ’ 1906, at Clinton as telegrapth ope rator. He was later assigned as I chief clerk to the agent, and on | February 1. 1941, was appointed as agent He held this position until his retirement on Septem ber 30, 1955.' x Following is a latter received by Mr. Sheely from John W. Smith, president of the Seaboard: “I have just learned that you have passed your fiftieth anniver sary of service with the Seaboard and extend to you my congratula tions upon this enviable revord. It is the.-wbolehearteii coopera tion of men like you which has placed the Seaboard in the posi- j Lion it now occupies in the rail- icad world, and I want vou to know that the sprit is sincerely appreciated. "As a token of appreciation and affection that this company feels toward you after a long and hap py association, it is my privilege to present you with the Sea board's fifty-year service medal.” Services Sunday For Mrs. Workman Funeral services for Mrs. Bea trice Thackston Workman who died early Friday morning in Greenville hospital, were held Sunday at Kennedy Mortuary in Laurens by the Rev. James A Grigsby, the Rev. James E Kinard and the Jlev. James 1L Lindsay. Burial was in the Forest Lawn cemetery. Mrs. Workman was the mother of Willie Workman of this city. NEW SUBSCRIBERS J. B. CARTER, Smi^hfield, N. C. BESSIE WADE, Hickorv, N. C. JAMES CAMP, Citv JOE L- CLEMENTS, >E L Vioa Vidalia, Ga. Highway Dept. Issues Warnings To 13,000 Drivers Business and industry will end | up on the short end of legislation unless leaders of those activities make their voices heard in the halls of Congress, was the con census of leaders at the confer ence of Chamber of Commerce leaders in Atlanta this week-end. Laurens county was represent ed at the meeting by George Mas sey, Clinton Chamber of Com merce managep ,and Bill Hogan, owner of radio station WLBG. Mr. Hogan is also a director of the Laurens Chamber of Com merce. More than 400 Chamber and business leaders from 68 com- Lpiunities in six southeastern states heard speakers, panel dis cussion leaders and National Chamber personnel say that un less the voice of business’ is heard through contact with con gressmen and senators, the na tional expenditures and tax rate will not be cut in the near future. ‘Congressmen and senators need and want the advice and suggestions of businessmen either in the form of letters, telegrams or personal contact ■ concerning laws proposed,” Arch Booth, ex ecutive vice-president of the Chamber of Commerce of the United States in Washington, tolu the audience of businessmen. Mr. Both said the battle is be tween free entreprise and a con trolled economy for our country and using a quote from Patrick HtAy, said, "Why stand we here idle?" Time and again, the businessmen were as'ked by the leaders their ideas concerning the p>ostal department deficit, the size of the budget presented Con gress by the President, a budget which is the largest peacetime budget in history, and the status of federal or-private controlled power, atomic energy and school construction. Quoting Edmund Burke, Ar thur (Red) Mobley, publisher of Parade Magazine, said the . “only way for evil to triumph is for good rtien to do nothing,” and he admonished his audience to make their views known by studying the issues and informing their icpresentatives of their views. Dr. E. P. Schmidt, National chamber economist^ said there is no sign of a depression “because the voters have voted out a de pression of serious nature,” mean ing that governmental action will be taken to prevent a depression. He said 195T should be the best business year in history, although there is likely to be recession in certain areas or parts of the econ omy. J. H. Carmichael, southastern area vice-president of the Na tional chamber, painted the southeastern states as the fast est growing region of the country and said it is likely to continue to be. He said citizens of this area have extra influence on legisla tive matters because of their fa vored position for representatives in Congress. The National Chamber, which has as members 2,328,000 busi nessmen, was pictured as the voice of business in the United States. Annual Meeting Methodist W. S. C. S. The seventeenth annual meet ing of t h e Woman’s Society of Christian Service of the South Carolina conference, Southeast ern Jurisdiction, of the Methodist church, will meet March 14 and 15 at St. John’s Methodist church, Anderson, with Anderson and Greenville districts as hosts. St. John’s is situated very near the center of the city at 515 South McDuffie street on the corner of the 200 block of East River street, which is on highways 178 and 76. The session will begin at 10:00 a. m., March 14, and continue at 1:00 p. m. on March 15. The eve ning session will be open to all young people who can attend, as well as adults. Lunch will be served at the church on Thursday, March 14. It will be necessary to make reser vations for this lunch by sending SI.00 with name and address to Mrs. W. C. Bolt, 743 Marshall Ave., Anderson, before March 6. This is important as there will be no lynches available at the church except those reserved in advance. This applies to both delegates and visitors —^ Church Women To Have Joint Meeting The Women of the Church and Men of the Church of the First Presbyterian church will have a joint supper-meeting Monday eve ning, February 25 at 7:30 in con nection with Foreign Missions. Dr. William G. Neville will be guest speaker. Dinner will be $1.00 per plate. Call the church office for reservations. Bank-finance your new car and # When you pay for your new car with • bank loan, it is possible to save $75 to $150 on the cost of financing and insurance. For bank rates are reasonable. There are no hid den "handling” charges. And you select your own insurance company or agent With a bank auto loan, you are free to shop for the best trade-in, for the exact make and model car you want. The monthly pay!, merits can be arranged to fit comfortably into your budget, and you can take lip to 3 years to repay. See the bank before you buy — no red tape, and the service is prompt. 1- 3 c c Interest Paid on Savings Accounts u. s. minis sm.Az. ESTABLISH N 18 8 6 rfia*'* \JjLf ([m CAPITAL AND SURPLUS S62! MEMBER - FEDERAL DEPOSIT INSURANCE CORPORATION The South Carolina Highway patrol issued 13,704 warnings to motorists during January for vio lation of traffic laws, bringing the total for the first seven months of the fiscal year to 90.- 069, the highway deparment re ported. Cases were made against 8,360 traffic law violators in January. Bonds posted with county and city clerks during the month to taled $184,522.75. Since July 1, 1956, traffic law violators have posted $1,314,398.45. Defective or improper lights on vehicles brought 6,189 warnings to motorists during January. Ex ceeding posted speed and driving too fast for conditions numbered 1,144. Warnings were issued to LI58 pedestrians who were walk ing or ’ crossing at dangerous places on the highway. AT PATROL SCHOOL Friends of Robert J. McCrary, of this city, will be interested to know he left this week for eight weeks training at the South Caro lina Highway Patrol School at the University orf South Carolina, Columbia. His family will continue to re side here in the Hays apartments until he completes his training and is assigned. BROTHERHOOD TO MEET The First Baptist Church Broth erhood will meet Thursday, Feb ruary 21 at 7:30 in the Fellowship Hall. Guest speaker for the occa sion will be John Farmer, direc tor of the South Carolina Broth erhood work, according to the program chairman, Dr. .Fra Caston F^ik YOUR A BROkmW, L PROGRAM ♦ ♦ ♦ ♦ : ♦ ♦ ♦ : I Last Day Feb. 21 aOth Century*Po> pr*»«nt« TOM EWELL' JAYNE MANSFIELD EDMOND (TBRIEN JULIE LONDON RAY ANTHONY HENRY JONES V Monday-Tuesday Feb. 25-26 THE Girl Cant Keep It GnemaScoP£ COMM toy M LUXB Friday-Saturday —— Feb. 22-23 Rock - Rock - Rock THE KING OF ROCK ’N RQLL —ALAN FREED Also Frankie Lymon. Lavern Baker, and Chuck Berrv COMEDY CARTOON I—ROCK HtDSON In " ' •••BATTLE HYMN" ■ Sasn Hayt ave .ir' 1 LEV < Kirk id Douglas zing a Top Secret Affair’’ wnnwi r parrik BROS « r«**«*.m tortmlptoUUto MCJUft-iU’JOa ytluK ■iaum xan tlCMTHI Wednesday-Thursday Feb.27-28 f* Charlton anne HESTON-BAXTER GILBERT TOM ROLAND-WON IKIIIIttl HHII Ml ELMIC StfHTCM T~ t^hWWMm-bMhugaMMir 1<~M, X INKS (DMM (Ml IECHN COLON* CALL 538 For Concrete Blocks and Ready Mix Ready-Mix Ready For Delivery From the. % Smallest to largest Construction Jobs Pipe Steel Sash Septic Tank Tops Sand Stone Cement CALL US FOR SERVICE AND QUALITY t & L CONCRETE Co. Canton, S. C. W. Carolina Ave. IT S TIME TO CHECK YOUR NEEDS About this time of the year we have many calls for rush printing orders. People call us and say they have just run out of this or that and need “state ments by in the morning at the latest.” Of course we are glad to help them over these tight spots .. . but we would like to point out that we can save customers many dollars and do a bet ter job of printing if we get your orders well in advance. This also insures your having the forms and statements you need for your business when you need them. We suggest you— CHECK YOUR JOB PRINTING NEEDS THIS WEEK And let us have your order. In that way you'll be sure of having your printing when you need it. We appreciate your business and are always anxious to serve you better. Your doing this in the next few days can help us do a better job. Won’t you (or have your employees) check your needs and give us your order now? JOB PRINTING DEPT. CHRONICLE PUBLISHING CO. Job Printing Of All Kinds Phone 74 Clinton, S. C. AMERICAN SECURITY INVESTMENT COMPANY < A South Carolina Corporation OFFERS 500,000 Shares’Common Stock of $2.00 par value offered to residents of South Carolina only These securities have not been approved or disapproved by the United States Securities and Exchange Commission, nor has the Commission passed upon the accuracy or adequacy of this prospectus. Any representation to the contrary is a crim inal offense. Price to Public Sales Commissions Net Proceeds . to Company Per Share $ 3.00 - $ 0.30 $ 2.70 Total — 4=: 1,500,000.00 $ 150,000.00 1,350,000.00 MANAGEMENT The Officers and Directors of the American Security Com pany are as follows: W. HENRY B. SIMPSON, President and Director: President, Be Ik-Simpson Department Stores, Greenville, S. C.; Director Southeastern Fund. SOLOMON BLATT, JR., Director and Vice President: At- toiney, Blatt and Fales, Barnwell, S. C. *' CHARLES D. GREEN, Chairman of Board of Directors: Vice President, Reeves Brothers, Inc., Spartanburg, S. C.. BLAKE P. GARRETT, Vice Chairman of Board of Directors: Pres., Garrett, Wenok & Garrett, Inc., of North and South Car olina; Pres. Mobilehome Dealers Association of S. C.; Director Ft. Inn Savings & Loan, Co-owner, Home-Owned Supermar kets, Ninety Six, S. C. ROBERT B. KAY, Secretary and Treasurer: Attorney, Fountain Inn, S. C. GEORGE P. WENCK. Director; President, Citizens Bank, Fountain Inn, S. C.; Secretary, Garrett, Wenck & Garrett, Inc.; Fountain Inn, S. C.; President, Fountain Inn Milling Company, Fountain Inn, S. C. WILLIAM R. TIMMONS, JR., Director: Vice President, Canal Insurance Company; President, Central Realty Com pany, Greenville, S. C. ’DAVID A. GEER, Director; Vice Pjiesident and General Manager, Geer Drug Company, Spartanburg, S. C. CLARENCE F. BROWN, Director: President, Anderson Hardware Company, Anderson, S. C.; Director First National Bank, Anderson, S. C. ; SHELTON J. RIMER, Director; President, Rimer, Inc., Greenville, S. C. and Augusta, Ga.; President, Federal Invest ment Company. Greenville, S. C. CHARLES E. SIMONS. JR., Director and General Counsel; Partner Lybrand, Simons & Smith, Attorneys, Aiken, S. C.; Director, Aiken Federal Savings & Loan Association, Aiken, S. C. ROBERT E. McNAIR. Director; Partner, MdNair & Lawton, Attorneys, Allendale, S. C.; Chairman, Judiciary Committee, South Carolina House of Representatives. DR. F. A. KENNEDY, Director; Physician; Chief of Medical Staff, Aiken County Hospital, Aiken, S. C.; Advisory Director, State Bank & Trust Company, Aiken, S. C.; Director, North Augusta Banking-Co., North Augusta. S. C. HENRY P. WILLIMON,-Director; Attorney, Greenville, S. C. J. WILTON STEWART, Director; President, Stewart Suprply Cqjpipany, Greenville, S. C.. WILLIAM L. RHODES, JR.. Director; Attorney, Hampton, S. C.; Chairman, Ways & Means Committee, South Carolina House of Representatives. JULIUS B. NESS, Director; Partner, Kearse A Ness, Attor neys, Bamberg, S. C.; State Senator, Bamberg County; Former Chairman, South Carolina Highway Commission. *, FINANCING MOBILE HOMES; Although a mobile home costs considerably less than a sta tionary one, its ipurchase represents a sizeable financial under taking for the average individual. Down payments usually arc one-fourth to one-third of the sale price, with the balance fi nanced over three to five years. The amount of this mobile home financing is growing steadily. It is estimated that at the start of 1955 the amount of mobile home paper outstanding was about $500,000,000.00, and that by the end of 1956 this total will exceed $650,000,000.00. Surveys of banks and finance companies demonstrate that this paper is sound, and in some cases is their chief source of revenue. Ninety-eight per cent of Banks responding to the latest annual survey reported their experience with this type of loan was excellent or good; 2 per cent reported it as “fair.” Ninety-six per cent stated that in their experience mobile home loans are as good or better than automobile loans. Ninety-eight per cent said they had experienced no losses with mobile home paper. Two per cent reported losses of less than one-fourth of one per cent. This record is a testimonial to the soundness of mobile home paper; the mobile home owner as a good credit risk and a responsible citizen. •(Two wholly owned subsidiarys). * NEW SOUTH INVESTMENT COMPANY MAIN STREET I FOUNTAIN INN, S. C. ORGANIZATION The New South Investment Company was incorporated un der the laws of the State of South Carolina on the 6th day of *July, 1955,. This Company was organized for the punpose of in vesting in sales contract financing, specializing in the field of mobile home financing t ORGANIZATION | New Frontier Life Insurance Company is to be a wholly owned subsidiary of American Security Investment Company and will have its principal office at Aiken, South Carolina. NATURE OF BUSINESS ' New Frontier Life Insurance Company will write all forms of Ordinary life insurance, including Whqle Life, limited pay ment life, Endowment^ Retirement Jlncome and term. It will issue both participating and non-participating policies. It will also write group, hospitalization, credit and health and accident " insurance. Business will be solicited by agents of the Company who will be paid on a oemmission basis. j CALL OR CONTACT RobertD. Deaton - J. Marvin Smith Special Agents of the Corporation i (At Offices of Wolfe and Addison) ’ Insurance and Investment Building 200 North Broad St. Clinton, S. C. I PHONE 610 or 609