Historical Newspapers of South Carolina

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2 rjj CLotr X-r?j Published mo: M ' / for Clinton ai ' , ployees. Clinic fijulij fhe direction Crocker, Dire Member ..f South muniiy and 1 Atlantic Council of l ?? ;#????! Industrial Editor* ta?ons. Calvin A. Cooper Truman J. Owens James R. Braswell Betty S. Tyson The publishers of The C items of interest from it to your departmental norennnt I " One-Price Cotton: T The lines are being drawn Congress establish a permanei for cotton. The object will be t< textile companies to end forev mills getting an unfair price American cotton. As the lines are being dr emerging. This picture sugges is of real meaning to only two ers and the textile industry. It is, of course, obvious the tions is the element of competit the cotton farmers' ability to rr tile industry's ability to provic for its employees. Both are d industry's ability to buy cottc price. But the picture that is emer the effect of cotton prices goes cation. It is much more person of us involved in the textile pi element stems from these poir Since a temporary oneSpring, the textile industry he trend in employment. At the p is providing better jobs at higl The textile industry is im new and better machinery and < American industry, carrying f upgrading of plants, jobs and < The textile industry is op meaning there are no short wc industries. The industry's profit pos better financial base for future working conditions. In all of these points, the c as the textile industry can ope base as its foreign competitioi progress will be in more and 1 the past few months have pro doubt. It is impossible to measure nomic impact. Thus, it is im effects of the prices the industr; But, it is a lead-pipe cinch tl of one-price cotton come home the doctor, the clothing store s; station operator and everyone e to our payrolls for at least a sh The effort to eliminate an purchase of American cotton, si farmers and the textile indust But it is mighty personal in to make it possible for the com How To Of the 100 largest corpora years ago, only 29 are still on appeared. Some have merged have shrunk below the level i have, of course, gone out of bi No one will ever know all < surviving while 71 others disaf reason which stands out like a The 29 companies which a and grown because of their at a constantly and rapidly chan which respect tradition but ar< ones who are proud of their he: to it. They are the ones who 1 best in the business but who ar and experimenting to make th< A company of course need: tion and ingenuity to insure ; companies in existence 50 years that you don't get very far vv master the challenge of chang: whM mm 1 nthly by and /O id Lydia em- f >n. S. C.? under \ of Claude A. t ctor of ComEmployee Re- MoniluT of Amoerloan Association of } Industrial Editors r Editor ^ Photographer Photographer c Editorial Assistant C 'lothmaker will welcome s readers. Turn them in I reporters or to tne j ?1 office. I c he Personal Element for the coming effort to have it one-price marketing system i make it possible for American 'er their worries about foreign advantage in the purchase of awn, an inaccurate picture is its that the cotton price battle groups, American cotton farm- I it among the major consideraive ability for the two groups? larket their cotton and the texle jobs and regular pay checks lirectlv affected by the textile in at a reasonable competitive ging is still incomplete, because far beyond the "group" identifiial than that, for it affects each oduction process. The personal its: price system was begun last 1 is reversed the long downward resent time, the textile industry ler wages than ever before, zesting more of its net worth in equipment than any other major orward a program of constant 1 employees. ' >erating at nearly full capacity, ?rk weeks or layoffs as in other 1 1 ition has improved, meaning a : ? operations, including jobs and i ommon factor is jobs. As long 1 rate from the same competitive i n, one of the reflections of its ; setter jobs. The experiences of i ved that beyond a shadow of a ; the textile industry's total eco- < nncciKlo t n m nocn ro oil nf 1 L1,Vy must pay for its raw materials. < lat the meaning and importance to each of us?and to the grocer, alesman, the dentist, the service I ;lse in the community who looks are of his own livelihood, unfair price advantage in the arely, is a concern for the cotton ;ry as a whole. i terms of the industry's ability pany to provide YOUR job. ( > Survive i itions in the United States 50 ( the list. The other 71 have dis1 with other companies. Some of the largest hundred. Others isiness completely. of the reasons for 29 companies ] jpeared. There is, however, one 1 beacon in the night. re still "on top" have survived Dility to meet the challenges of ging world. They are the ones ] ? not bound by it. They are the < ritage but who seek, also, to add believe their nrndnrtc tr> tVin e constantly studying, analyzing em even better. 5 many things besides imaginasuccess. On the other hand, 71 ? ago have proved, the hard way, without the ability to meet and ing times. fHE CLOTHMAKER 1964 INCOfl Maybe More It could be that you'll be >aying more with your 1964 ncome tax returns than you lave in earlier years. Or, you nay not get back refunds as mu have in the past, because )f the reduction in Federal In :ome Tax Withholding which jegan early in 1964. Reduction in withholding -ates did not match reduction )f the tax rates, as was indicated by 1964 withholding statements which the comDany issued toward the end )f January. The Revenue Act of 1964 educed tax rates on individuals in two stages. Of the ;otal reduction, some two :hirds was for 1964 and the )ther one third comes in 1965. Tips On Cone F ederal Ketui Efficient operations of the responsibility. William J. Boc nissioner. Internal Revenue, h lelp reduce the cost of Gove Federal income tax returns ar :hat these returns are processc< puters, accurate filing becomes Preaddressed income tax forms for the calendar year 1964 have been mailed to taxpayers in many states including South Carolina. Because Lhe preaddressed information is vital to processing operaHnnc t o vno\:orc nvn nrrfo/4 1 r\ biVIlkJf WMAJ7UJV.IO ?I C U1 gCU IW jse these forms. These directions should be followed in preparing returns to assure prompt and efficient service: 1. Use the preaddressed tax return you receive through the mail. If the preaddressed return cannot be used enter your name and address exactly as shown on the preaddressed return. 2. If your address has been changed, draw a line through the old address and enter the correct address. 3. Be sure to enter your Tax Identification Number (social security or account number) in the space provided. 4. U s e official supporting Of Woodchucks i Among our holidays and other observances of the year, two of the most legendary ones occur in February: Valentine's Day and Ground-hog Day, In Third-Century Rome the emperor Claudius had a religious leader named Valentine beheaded. Along about that time pagan Rome traditionally kept a festival Feb. 15 on which it was customary for young people to draw lots for partners for the coming year and to exchange gifts. As the church advanced, it substituted Christian rplehrn lions for pagan rites. Most historians agree that when Valentine was declared a saint on Feb. 14, this was made "his day" and gradually the pagan observance of a day later merged with Chris /IE TAX INFC Taxes Than Yc Rates in effect before the 1964 Act ranged from 20 per cent to 91 per cent. Under the Act, 1964 rates ran from 16 per cent to 77 per cent and 1965 rates spread from 14 to 70 per cent. EFFECTIVE March 5, 1964, 4 Ur* IT /-v/4 1 UIC 1 CUCI dl 111LU1I1C LUA Willi* holding rate was lowered from 18 to 14 per cent. The reduction in withholding was welcomed because it meant more take-home pay. But the Internal Revenue Service says: Take into account the changes as you file your tax, due bv April 15 this year. If you haven't already filed your return, this procedure may help in the task: Compute your 1964 tax under the lpleting Your rns ir Government is everybody's )kholt. Atlanta Regional Com las said that all taxpayers can rnment by making sure their e accurate and complete. Now i by high speed electronic cornmore important. schedules furnished by IRS. 5. If official schedules are not sufficient for your needs, a substitute may be used, but you must follow the format of the official schedule. If substitutes are used, attach to the official schedules and enter totals on the official schedules. 6. Be sure the total number of allowable exemptions are entered on Page 2, Form 1040 or 1040A. 7. If medical deductions are claimed, be sure the total cost of medicine and drugs and total amount of other medical, dental expenses are entered on Page 2, Form 1040. 8. Be sure the return is signed at the bottom of Page 2, Form 1040. 9. If a joint return is filed, both husband and wife must sign. Mr. Bookholt stressed that each local Internal Revenue office provides free assistance to taxpayers. tnd Sweethearts tian customs and thus became Valentine's Day as we know it now. SOME HISTORIANS add that a confusion of language also led to the martyr's being established as the saint of sweethearts. Others point out that therp wppp nt lpacf tt<roo saints named Valentine. The custom of exchanging cards or valentines has grown through the centuries and gift-giving is still much a part of the tradition. Origin of Groundhog Day is associated with Candlemas Day, a religious festival celehraforl FoW O Onn v* v* vynu u 1 uic earliest weather forecasts which went back to pagan times, in Europe it was early associated with the badger. People in Germany had a superstition that the badger JAN.-FEB., 1965 )RMATIQN )u Thought new rates. If the computed tax is greater than the amount withheld, make arrangements to save or otherwise obtain the amount of money needed to pay the difference by the April deadline. The Internal Revenue Service has published new instructions for making your income tax return Form 1040 for 1964. It has the rate tables effective for 1964 and a summary of changes in what can be deducted. Some items formerly deductible are not deductible any more. I f you have not received the new instructions, you'll need them soon, so as to be ready for the April closing date for filing returns. Social Security Numbers Needed i-or I axes Banks and other payers of interest are now asking for social security numbers, Martha Pressley, District Manager of the Greenwood social security office, commented today. These requests are bringing a great many questions about social security numbers. Last year, Internal Revenue Service began keeping income tax records on electronic data processing machines. In order to avoid establishing a separate numbering system for taxpayers. Internal Revenue is using the social security number for record keeping purposes. The law already required employers to report wages paid their workers on Form W-2 to the Internal Revenue Service. The law now requires your bank, saving and loan association, credit union, etc., to report all interest and dividends paid to depositors and investors. The interest payer must have the social security number of the owner of the account or investment. That is the reason VI lllOklVUllUUd cue ill Lei estcd in your social security number. peeped out of his den on Candlemas Day. Early German settlers brought this notion to America, but as the badger is little known here, the fable was transferred to the woodchuck or groundhog. This Month In History 2 First U.S. factory to produce fabric by p o vv e r (water), Beverly, Mass., 1789. 8 Boy Scouts of America incorporated. 1910. 14 First textile machinery patent in U.S., 1794. 28 World's first factory to work entire process of spinning through weaving bv power machines, Waltham, Mass., 1818.