The Clinton chronicle. (Clinton, S.C.) 1901-current, February 16, 1950, Image 10
Page Two
THE CLINTON CHRONICLE
Thursday, February 16, 1950
State Senate
Kills Game And
sidcr a vote taken on Tuesday which
killed the bill. Senator Ralph Wil
son of Laurens county voted with the
major.tv. opposing the bill.
The oill would have created a 12-
Fisb treasure
^ ' V. —
Social to Tt'o Cbruru-le
Columbia, Feb. 8—The state sen
ate last week killed the bill to "ere- name game wardens.
ate a game and fish commission, to m
define ,t> powers and duties, to pro-' SAVINGS BONDS SOLD
\ de for the protection, restorativLu'
..nd propagat on of game buds, fi> \ c h a j rman 0 f t he U. S. Sayihgs Bonds
of $41,
Babson’s Letter
member commission to replace the Babson Park,— Fla., Feb. Man}
chief game warden’s oflice. The com- have edme to me asking thatj
nel
passed last year by the house of rep-
resentatives and had been carried j
iver until this session by the setoatei
The bill was actually, killed by a
20 to 18 roll call vote held Wed-i
nesday defeating a motion to recon-,
ty during the month of January.
THE CHRONICLE
Completely Covers Clinton's Trade 1
Area for Advertisers
There Is No Substitute for Newi-
paper Advertisln*
mission would have had' the power to 1 suggest ^Sn investment .w hibh com
bines: (1) proper f
diversification: (2) ,
an inflation hedge
based upon low
D. F. - Patterson, Laurens county iP ■ cost compared with
and fur-bearlnfi animals, and to pro- diWaion’^orti’the $41,896:25 jK *MM hniere^t
\ ;de iOr ..ic employment of perbon- in savings Bonds for Laurens coun-
1 -for such purposes. The bill was
/< 1921-1949
Hugh L. Eichelberger
NEW YORK LIFE MAN
28 YEARS EXPERIENCE
PROFESSIONAL INSURANCE INFORMATION
FURNISHED FREE .
Member The National Association of Life Underwriters
■J
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That’s whyTussy makes two
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yield, and (4) free-i
dom from labor!
troubles. This last
is .very important, j
After considerable'
Bof*r W. B»b»o* thought, I recom-;
i mend stocks or good long established
fire insurance companies, and here-i
with are my reasons. Any of these
'stocks can be purchased through!
jyour local bank.
1. Insurance companies are actual-!
ly well diversified and balanced “in
vestment trusts” with a second
source of earnings from the insur
ance business. This second source |
will often produce as much income
as the stocks and bonds which thej
company owns. Furthermore, the J
purchasers of this form of invest-!
jment trust should receive more in-|
I come—and certainly more security j
I—than by the direct purchase of;
most securities. For instance, the
Home Insurance Company, the stock
of which sells at $35 a share, has in
vested assets of $60 a share.
2. Fire insurance stocks are sell-;
Tng at a low ratio to liquidating val-;
ue. To take the case of the Home
Insurance Company again as an ex- 1
ample.iris selling at about 85 per
cent of its current liquidating value. I
Since 1935 the average annual range
for all fire insurance companies has
been less than the liquidating valued
As most insurance companies have|
a portfolio of good common stocks,
they should be a fair inflation hedge.
Dividend Outlook
| 3. Generally dividends on fire in-
! surance stocks gradually increase.
The ratio of dividends paid to in
vestment income received is below
the normal average for other classes
of stocks. This shows conservative
management. The leveling ofif of
premiums will stop the drain on sur
plus and permit greater dividends.
Increasing dividends should cause
increasing market prices,
i 4. There are cycles in the insur-
I ance business. The cycle how is
i that of a period of good earnings,
j which give a yield between 4 per
i cent and 5 per cent although a large
i part, of the assets are in Government
i Bonds. Perhaps never before in
! history has~T>roperty been so nearly
! insured to full value. The rates are
{not ordinarily reduced until five-,
year-average results demonstrate
them to be too high.
When rates again begin to be re
duced and or fire losses -increase,
dividends and prices of the fire in
surance stocks may again decline for
a period.
Small Labor Expense
5. A period of labor troubles, such
as we are witnessing today—should
direct attention to the advantage of
insurance company stocks. The cost
I of labor for the insurance industry
! is around 10 per cent of the volume
j of business. This compares with a
i labor cost of from 40 per cent to 50
j per cent in most industries. This
gives a great advantage to fire in-
i surance companies.
| Any increased labor co5!s go into
i the expenses and are taken into
consideration in the fixing pf rates
l as well as in the payment of taxes.
If drastic labor trouble should oc
cur, this type of company, having a
small investment in plant, can be
moved to a new locality. But the
percentage of labor cost is so small,
this is seldom necessary.
Selecting Stock To Buy
I use the Home as an illustration
[because it is the largest in the Unit
ed States in total admitted assets and
in premiums written, although only
the fourth in policyholders surplus.
I happen to be a director and have
great confidence in its president,
Harold V. Smith. Also there are oth
er good companies such as Great
American, American of Newark, Fir-
men’s of Newark, Aetna, National
Fire, Continental, Fidelity-Phenix,
! Insurance Company of North Amer
ica, Springfield Fire & Marine.
If you are ultra-conservative, buy
some stock in all 10 companies. Then
you should have the best possible
combination of safety and income.
Another suggestion is that you look
at your insurance policies. If you
find one of the above 10, then buy
lome stock in that company.
If it is good enough for you to in
sure in, it should be-good enough for
you to invest in. The business of an
insurance company is probably the
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ciple that those who escape fire, aq-
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THREE DAYS ONLY!
to help the one who has an unfortun
ate loss.
William Weir In
Naval Reserve
William S. Weir of this city has
joined the Naval Reserve and was
sworn in this week by the naval re
serve office^-in charge at Spartan
burg. Weir wSs-'discharged from the
navy in February 1946 as a machin
ist mate third class and his civilian
work since then qualified him for
the rating of builder second class
in the SeaBee’s.
OFFICE BOOKS—Ledgers, all kinds.
Ledger Sheets, Loose Leaf Bind
ers, Cash Boors, Journals, Day
Books, Sales Books, Columnar Pads.
CaU 74. Chronicle Publishing Co.
30 Suits and 8 Topcoats 1-2 Price
Regular Fall and Medium Weights, by Griffon and Curlee
(Small Alteration Charges. Sales Cash)
Broken Lot Men’s Sport Shirts
1-2 Price
(Cotton Flannel, Wools and Rayons)
i \
One Group Dress Shirts
$1.95
Regular $2.95 and $3.95 Values
(Assorted Collar Styles in Patterns and Whites)
One Lot Sweaters 1-2 Price
By McGregor (Slightly Soiled). Sleeveless, Slipover and Coat Styles
t: :i /
One Group Raincoats 33i ^ Off
(Nationally Advertised Brand) ®
COME EARLY FOR SELECTIONS ON THESE
FAR-BELOW-COST ITEMS
ADAIR'S REN’S SHOP
‘For the Man Who Cares’
Big Money - Savings For
Thursday - Friday - Saturday
SHENANDOAH DISHES
14-inch Platters 3 for $1.00
16-inch Platters 2 for $1.00
Soup Bowls c. 12 for $1.00
Cups 12 for $1.00
Plates 6 for $1.00
$3.50 Luggage Racks $1.00
$22.50 Floor Lamps $15.00
Wunda-Weave Cotton
Rugs 50% OH
Wool Rugs ...„.. 2CT%_ Off
Table Lamps 20% Off"
Pictures t *..... 20% Off
ic
%
Tables, all types 20% Off
Air-Pok Luggage 20% OH
One New $279 Monarch Electric
Range $
One New $319 8-H. Hot Point
Freezer $259
Congoleum, $1.00 sq. yd., now 75c
Inlaid Linoleum, $2.55 sq. yd.,
$1.95
All Heaters in stock 25% OH
All Mirror* 20% OH
One Portable Factory-Rebuilt
Singer Machine $45.00
This is all new stock, and things you need every day in your
home, so come to T. E. Jones & Sons and save your money.
I. L Jones & Sons
Home Outfitters