The Clinton chronicle. (Clinton, S.C.) 1901-current, December 01, 1949, Image 9
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THE CHRONICLE
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Volume XLIX
Clinton, S. C, Thursday, December 1, 1949
Number 48
Pressure For New Houses
»
Passes Peak, Babson Says
Less Private Building
In 1950 Than In 1949,
Me Thinks.
St. Louis, Mo., Nov. 30.—I am trav
eling about the country on my annual
trip to look over the real estate situ
ation. Briefly, these
are my conclusions:
There will be less
private building in
1950 than in 1949.
The building of
homes, business
blocks and factories,
through private
funds and bank
mortgages, will fall
off about 10%. The
pressure for new
homes has reached
its peak due to three reasons: (1)
High building costs; (2) Fear of un
employment; and (3) Large number
of divorces, with fewer marriages;
and births.
Government and other public
building, however, should increase in
1930 This applies to school houses,
hospitals, apartment houses and mul
tiple government financed homes. I
estimate this Increase to be about
13%. Therefore, there should be a
net decline in all building of about
3% because of the greeter importance
of private work, thus bringing the
total for I960 down to about 917,-
709.000.000
Whal Abont Ceete
The cost of building will be less
in 1930 by about 3% Some building
material* have gone down 13% in
some sections Certainly, workmen
are dotng better work and are ac- 1
eomplishing more in a day All of this <
that readers can get a better
and get it for a UUle less money
la 1930
1 And no evidence of imaators or
other private partiee building bouses
for rent in 1000 The rent Vootrel leg
islation and increasing taxes diecour-
rative people from dotng
■ today s person can get
a yield of from •% to •% on good
stocks which 1 consider safer than ‘
rates on very favorable terms; (7)
Enlarged public road and housing
projects; and (8) Billions being spent
in advertising to encourage both cash
and installment purchases which in
creases the circulation of money and
helps real estate values.
Expansion Program
By REA In County
Almost Completed
Laurens, Nov. 21. — The Laurens
Rural Electric Co-op’s million dollar :
expansion program which got under
way two years ago is now in its final
stages and will be completed about
February of next year, according to
Henry Faris, manager of the Com
pany.
Faris stated that the project will be
ended with the erection of a sub
station at Fork Shoals and a few more
additional lines which are expected to
be added in approximately four
months.
The Co-op now has 1,500 miles of
electric lines that enter into six dif
ferent counties, Faris said, represent
ing an increase of over 100 per cent
since 1947. The number of consum
ers has increased from 2,400 to 5,800
in the two-year program.
The expansion included the con
struction of two sub-stations in
Woodruff and Joanna. The station
located in Laurens was also reported
enlarged. —.
While 85 per cent fof Electric Co
op’s lines are in Laurens, Greenville
and Spartanburg counties, they also
have power lines that enter Anderson,
Newberry and Union counties.
Faris stated that nine miles of elec
tric lines were recently purchased
from the city of Clinton. The lines
are located in the Clinton to Cross
Anchor vicinity.
Faris declared that the new radio
equipment that was installed to en
able the office to keep in constant
contact with their linemen in the
field has been a great help in speed
ing up the expansion work.
Say—
“I SAW IT IN THE CHRONICLE”
Thank Ton .
To Rtticot
Misery ef
’rt.P s
GVI666
any rtntal property It «Uo should be
remembered that, disregarding sUrte
taxes, bouses built for rental purpos
es are subject to two taxes—local res'
•state and federal income — while
these good stocks are subject to only
one tax. after being purchased by an
Individual
Ontlook far Land Prices
I learn that farm prices continue
to be firm Most farmers have good
hank accounts and are selling no land.
The general feehng Is that farm val
ues will hold until the next drought.
This may come any time, but the ex
perts do not expect it until after
1932 The greatest demand for land
appears to be for property in the Pa-
^■ciAc coast states and in the “magic
circle,” made up of Iowa, Missouri,
Arkansas, Nebraska, Kansas, Okla
homa and North Texas.
Small fertile sustenance farms
within a few miles of a small city
are in most demand. These are being
bought as insurance by people who
have business positions in the nearby
city. They want the best hedge
against inflation, war and commu
nism—namely, a small, fertile, well-
drained farm with some wood and a
good spring. Such small places con
tinue to rise in price.
Suburban Property
I find property values in large
cities are declining, especially when
it comes to forced sales. High taxes,
bad politics and labor unions are
causing people to move to the su
burbs. Hence, suburban property is
holding firm; also property in small
cities from 5,000 to 20,000 popula
tion. These smaller pities are show
ing both the largest percentage of
growth and the best profits, per dol
lar invested, for small manufactur
ers and commercial enterprises. I
would sell no property in such plac
es, but rather buy more.
In closing, let me say that almost
everyone I meet on this trip now
appears optimistic on good land, well
located, for these eight reasons: (1)
Large consumer incomes; (2) High
level of personal savings; (3) Fear of
inflation and desire to hold real prop
erty instead of cash; (4) Continued
subsidies both to fanners and to la
bor; (5) Coming distribution of
$2,800,000,000 insurance money to
veterans; (0) Current low mortgage
FINAL SETTLEMENT
Take notice that on the 9th day of
December, 4949, I will render a Anal
account of my acts and doings as
Executor of the estate of Nena Mar
tin Copeland in office of the Judge
. of Probate of Laurens County, at 10
o’clock ajn., and on the same day
will apply for a Anal discharge from
my trust as Executor.
— Any person indebted to said estate
is notified and required to make pay
ment on or before that date; and all
peraons having claims against said
•state will present them on or before
said date, duly proven, or be forever
barred.
J. ISAAC COPELAND,
Executor.
Nov. 9, 1949. l-4cw
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