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I I r l / Pag;® Four THE CLINTON CHRONICLE ) THURSDAY. MAY 12. 1M9 Babson's Letter CALI... W TELEPHONE 1 '■ ± 0 Every time I travel throughout this vyonderful country I am more , convinced that good land, properly — located, is the safest of all invest- BY ROGER W. BABSON ! ments, better than government Eureka. Kansas, May 6.—During bonds. As I have said in this column the past week 1 have been motoring before, everything that feeds us, or through the six states of America's clothes us, or shelters us, comes "Magic Circle”, the richest in time from the soil. of peace and safest in time of war.! This is not a recommendation to This “Magic Circle” is majie up of speculate in land, especially at pre- lowa, Missouri, Arkansas, Nebraska, sent high levels. This, moreover, is Kansas and Oklahoma. If the peo- a time to get out of debt rather than pie of these states arise to their re- to buy anything on a mortgage. Bu sponsibilities, they w r ill someday next to cash in the bank, give me have an opportunity of organizing good income producing well-located and controlling the Unifed States. land, preferably "bottom land lo- : cated on a stream. Once was the time when titles had to be examined with great care; but now with the Torrens System you can be sure that you have a perfect title if your land is properly registered. This system is now avail able in 16 states. All of the other states should adopt it. Those inter ested in further information regard ing the Torrens system of checking and insuring land titles should write to my friand, Mr. W. C. Perry, 876 Elm street. New Haven, Conn. I like good land everywhere, but especially in the six states mentioned above which make up my "Magic Circle”. For further particulars regarding this "Magic Circle", write to W. A. Bowers, president of Utopia college, Eureka. Kansas, or to~the First Na tional bank of Oklahoma City, Okla. Outlook All I meet in the Central West ask about business conditions in the East. Although farm prices have declined considerably since I was here a year ago, yet the people here are optimis tic and cannot understand unem- ; ployment or business failures such as the East is experiencing.. In be half of my Eastern friends let me say that the farmers of the Central West have no idea of what Eastern manufacturers are suffering from 1 ill-guided labor unions. Truly when as. and if, another depression comes, ' it will be due to the overreaching of labor unions. I find very little land speculation out here. Farmers are rapidly get ting out of debt and improving their properties. Most farmers have gov ernment bonds and a good bank ac count. Hence, although the prices of farm products will gradually de cline, yet there will be no collapse as there was-In J the early thirties. Although I don’t believe in the lat est attempt of the Secretary of Ag- | riculture to please everybody, yet I | do believe that some form of parity i farm support should be continued. I am one of those who agree with George H. Le Boeuf of Dayton, Otuo that a manufacturer who refuses to Benjamin & Sons Expert Workmanship CRANE Quality Materials market is passing more largely in to the hands of the large corpora tions, not only by internal growth, but by the absorption of the small firms.” Noting that the council’s report j said small firms can compete suc- I cessfully, Dr. Gardner asked: “If j they can compete successfully, why I is the process of absorption contin- | uing?” His answer, based on the survey , of a number of firms in the $250,- 000-$5,000,000 assets range is this: | "One' fact stands out in startling fashion, that many of these firms are basically owner-managed oper- , ations with little provision for the ' development of an executive or ganization able to operate the busi ness in event of the death of the president. "The fact is that with many of Tfie one-man firms the founder was a man of great ability and tre mendous energy. In the early stag es, he was everything—he knew ev erything, could do every job and made every decision. "As the organization grew, he continued to dominate. He not only felt he could do everything better than anyone else, but he also loved to do it. “But at no time did he give real thought to building a managerial or ganization. His sons had titles, but he still did everything. “They never learned to mak de cisions, to carry real responsibility, to make errors and learn thereby, nor to fight their way up in the competitive world. “So when the founder dies, the organization is left without real leadership. Morale and efficiency decline. Before anyone is quite aware of the seriousness of the situation, the business has lost its competitive position, and all the family can do is sell out—and the only capital waiting for such a buy is usually the large corporation.” Dr. Gardner said that in many such cases, responsibility falls on a plant manager who has been train ed to “let the old man do it, and who consequently has lost the vision or versatility necessary in competi tion.” When a second line man is sud denly thrown into such a position; Dr. Gardner added, he usually makes "genuine attempts to take Over roles for which he is unpre pared. This leads to emotional strain which cuts his judgment capacity, or he 'falls back on the judgment of the owners or the board of directors, neither of which is equipped for rapid decision. “Sometimes cliques, which have been held down by the old man’s drive, further disrupt the organiza- • tion. “The remedies,” Dr. Gardner con- | eluded, “are obvious: Find jmd de velop executive talent through the j various testing processes now avail- ' able; and be sure that the old man, in himself, really understands the functioning of his organization.” DON’T SAY noon PAINT-SAY DOES MORE • COSTS LESS t.D. ciwte MA/V OF GREAT CAL/BRE /S SELDOM A BORE. We never bore you with offers of substitutes. We carry a w ide stock of well- known merchandise, which makes shopping here a pleasure. M'GEE’S DRUG STORE Phone No. 1 BIRDSEY’S FLOUR (H ALITY & SAVINGS BIRDSEY’S BEST 25 lbs. 4-BROTHERS 25 lbs. *2.04 ! 1.87 MONEY SAVER $ 25 lbs 1.74 COFFEE BIRDSEY’S BEST Lb. Vacuum Can 59’ i 4-BROTHERS 40 c fairplay 30 c BIRDSEY'S feed FOR (H ALITY AND dependability shut down his plant should be in sured against loss as well as th« far mer who continues to raise crops, i Mr. Le Boeufs program would do nothing for the manufacturer whe throws .his labor out of employment, and then takes a trip him self to Florida. The manufacturer, however, who will keep his plant operating and his people employed deserves industrial insurance just as much as bank depositors or farm- 1 ers. Such an insurance program would not be to expensive foe our federal 1 government because if all manufac-l tuners kept their plants operating, there would be purchasing power sufficient to buy most of the goods I produced. Hence, there would be \ery few insurance payments. Busi ness depressions cannot be altogether eliminated any more than can sick ness. But they can be greatly dimin- ! ished in severity. As the health de- \ partments of our cities are constantly reducing sickness and the insurance, companies are taking care of the! unfortunate, so unemployment can likewise gradually be reduced. ' _ t ! I i I -MASH RTER lbs. )\YING SH, 100 lbs. LATCH ’4.89 ’4.59 $ 4.00 lbs fING MASH [JQ RY FEED gQ ’ICO ■3.75 lbs. 2»7c & HOG JD, 100 lbs. ISE FEED lbs airplay chicks lace Orders Now for Future Delivery. RDSEY FLOUR & FEED STORE \ Parks Adair, Mgr. Musgrove Street SMALL BUSINESSES FAIL WHEN OWNERS LEAVE NO LEADERS Chicago, May 4. — Why does big business absorb small firms in the $250,000 to $5,000,000 class? "Because,” says a management re search firm, "small business has failed to develop” an executive hi ierachy capable of running it after the death of the founder. Dr. Burleigh B. Gardner, presi dent of Social Research, Inc., which includes psychologists, anthropolo gists and socioligists, headed a sur vey of the question. In an interview. Dr. Gardner cit ed reports of President Truman’s council of economic advisers. These he quoted as saying: “Year by year the control of the j ATHLETES FOOT ITCH NOT HARD TO KILL. IN ONE HOUR, If not pleased, your 35c back at any drug store. TE-OL, a STRONG fun gicide, contains 90*^ alcohol. IT PENETRATES. Reaches MORE germs to KILL the itch. Today at McGee’s Drug Store. COMMERCIAL HOUSEHOLD WIRING Electrical Appliance Repairing and Electrical Construction Work Floor Plugs A Specialty ARNOLD M. CANNON 406 W. Maple St. Tel. 312-XJ If Yon Don’t Read THE CHRONICLE You Don’t Get the News ‘auto loans PROMPT SERVICE Goodyear Tires and Tubes SECURITY loan and INVESTMENT CO. (Chartered 1905) 1219 Bop^e Street Newberry, S. C. L. W. Cooper, Agent Clinton, S. C. BATTERIES AND ACCESSORIES McMillan Service Station Sinclair Products Phone No. 2 i Graybar Sewing Machines We invite you to come in and see these new machines. Cabinet and portable types. Easy terms if desired. Home Si ipply Co. 104 Pitts Street Call 423 Yes, Flor-Ceal does all the work with just one coat—and in oat operation! It leaves a lastingly beautiful floor that’s protected from dirt and wear,oil or grease ... a floor that’s easy to keep dean! All for a cost of only about 1 cent per square foot! EASY TO USE-DMCS OVEKMCIfT! Plor-Ceel fo«f on just like say psint—with a brush, spray or roltet coster. Oas coat covers I And yet caa paint it m oae day. aas it the aaatr Flor • Csal la guaraateed not tt crack, chip or pasl. It ia absolutely non-slipptry. Treat yeur fleers M aew beauty and life with Pier-Caali For ALL SURFACES • INSIDE OR OUT WOOD Ot UNOUtM MttMINTS CI e a i (transparent) Base meal Deers caa Bt rier-Ceal hrings ewt brightened end prw etT'ead art"elel&"3 OTMS Mad Ser M |ckJy w«W ner-Csai! COMCftfTt rioc-C#al in ike ideal psint fee isnsrtas perches, ceragee. It ess Is against stsiaa. wear end waalbsr. Won t ship er peel I No attra praearattan aeadad aaaapt Ser sea- ly laid raarresa. Ia 4 colors sad black and FOR HOMI r'PAtM • FACTORY 4 NOW YOU CAN OCT FiOR-CCAl FROM THISI DIALERS! D. E. TRIBBLE CO., Clinton, S. C. DONT SAY FLOOR PAINT . SAV FLOR-CEAL. ^ a-a. wi«« w pm* • i Abeelataly ana slippery —— — Bigger^ Wiijs... DODGE gives you extra value WIDER on th« inside... NARROWER outside! There’s extra value in the spread-out elbow room of the wide, wide seats. Yet the new Dodge is smaller on the outside ... easy to park, easy to garage^ # easy to thread through crowded traffic. LONGER on the inside * , * SHORTER outside! The new leg room in Dodge gives extra value in stretch-oyt comfort. Doors open wide, too ... let you get in and out easily without squirming or twisting—and without knocking your hat off, either. If you want extra value, you'll want DODGE! There’s extra value in Dodge beauty that flows from true functional styling ... in the design that provides more head room, more leg room, more elbow room, greater vision for all passengers. There’s extra value in Dodge’s Get-Away engine with its surging acceleration ... its higher compression that squeezes extra miles from every gallon of gas . . . the smoothness of Dodge All-Fluid Drive at no extra cost. Yes, you’ll want Dodge for the extra value you get all the way from double-life hydraulic brakes and Safety-Rim Wheels, to the luxurious comfort of full-cradled ride and knee-level seats. Add to these the Dodge reputation for dependability and economy and you’ll discover why wise buyers say “If you want extra value, you’ll want Dodge.” CYRO-MATtC...'FREES YOU FROM SHIFTING (ArmUmbl* on Corooot Modok) HIGHER on »h« inskfa... LOWER outsidd Mora head room is another Dodge extra value you’ll , appreciate. Instead of low, slanting seats that force a cramped position. Dodge knee-level seats are actually higher for relaxing comfort, better vision. TEN NEW MODELS IrtFlFOTj Prices start just a few dollars more with (Tyrol Fluid Drive than the lowest priced cars COOPER MOTOR COMPANY 211 West Main Street Telephone 515