The Clinton chronicle. (Clinton, S.C.) 1901-current, December 07, 1950, Image 10
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THE CLINTON CHRONICLE
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ThunnUy. Ptc—Wf L XP*
Taxes and Credit Curbs
Shade Business Outlook
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Babson Park. Mass., Dec. 1—The
prospects of higher taxes and credit
restrictions is casting a shadow over
the Business Outlook for the coming
winter. These ap
ply to automobiles,
refrigerators and
television sets; but
not as to most con
sumer items.
Recently we know
that the output ot
industry has exceed-
e d consumption.
Automobiles and
trucks have been
W. iub»«a produced at the un
precedented rate of ten million per
year; over 20 per cent of all units
now’ on the road. The recent rate of
home construction has exceeded any
previously recorded annual output
by over 50 per cent. Scarce buying
lifted the sale of Household Appli
ances to unprecedented heights dur
ing the summer.
However, we find already that re
action has set in, with lumber prices
breaking during the last few weeks.
The sales of many consumer items
are back to pre-June levels. New
construction is currently off sharp
ly. We know that the easy credit
policies of the Federal Government
Agencies have artificially stimulated
home building. With the tightening
up of credit controls further cut
backs will continue. Recent increases
in bank loans outstanding have been
largely siphoned off into consumer
credit expansion. This caused a tre
mendous boom in the purchase of
consumer goods during recent
months. Much stricter credit regula
tions will certainly have a depressing
effect on the inflationary spiral.
Now’, is no time to buy everything
in sight.
Outlook For Defense Spending
Defense orders in 1951 will un
doubtedly maintain hi^h employ
ment, at least during the coming
winter. D|ue to the allocation of cer
tain materials in short supply being
funneled into defense activities, bus
iness profits will not be uniformly
good. Dislocations will take place.
This will create shortages of mater
ials throughout the nation w’hich can
have an adverse effect on the normal
flow of business and profits. Gov
ernment bureaucrats do queer things.
Investors who search for an infla
tion hedge in common stocks should
watch their step. The Dow-Jones In
dustrial Stock Average is higher than
it has been for the last 20 years.
More burdensome taxes during 1951
will have an adverse effect on earn
ings. Many companies fully convert
ed from civilian to military produc
tion will have their manufacturing
margins cut. War stocks are certain
ly at their peak. Don't forget what
Keep Pepsi On Hand
tops
for
quality
tops
for
quality
tops
for
quality
Ptpri-Cola Company, homy Idand City, N. Y,
A Real Taste Treasure!
Including Tax
REFRESH WITH PEPSI!
I
PEPSI-COLA BOTTLING CO.
GREENVILLE, S. C.
happened during the renegotiation
period of 1M6-47.
Diversify Your Investments
Government policy makers are now
pouring water over the inflationary
fire on which they were dumping
gasoline only a short time ago. This
vacillating policy requires careful di
versification of investment funds
during the coming winter. Have less
than half of the total funds in com
mon stocks. For this half buy only
securities of companies that make
some money both during good times
arxi bad times; and where the man
agement is of high character. Buy
no bonds except Convertible Bonds.
Have the other half of your invest
ment funds in cash, savings accounts,
Government bonds, etc. awaiting
more favorable buying opportunities
later.
Political Outlook
No one in this world has gotten
something for nothing for any great
length of time. I should, therefore,
like to point out that we are heading
for some very serious trouble in this
country unless employees improve
their output to compensate for in
creases in wage rates; otherwise, fu
ture increases in wages will prove
to be an illusion. Subsidies given one
section mean taking wealth away
from another section. In the long
run employers are only cutting their;
own throats by charging too high
prices.
Honest value for goods and serv
ices should be the aim of us all. Reg
imentation is not the answer to our
troubles. The planners, whether they |
be in Washington, London or Mos
cow, never create wealth,—all they
do is to re-distribute the fruits of
other peoples labor. This is not treat
ing one’s neighbors fairly. Basically
what really counts most of all is how
we people treat one another. Only
through an economy based on the
Teachings of Jesus can we hope to
maintain and improve our splendid
standard of living.
Snyder Sees
General Price,
Wage Controls
Washington. Dec. 4—Secretary of
the Treasury Snyder predicted today
that general wage-price controls will
have to be invoked to avoid damag
ing inflation
But Alan Valentine, chief of the
Federal Wage-JMc* Control agency,
declined to be specific on UmLig
who;: senrten den.*nded to know
what the irtn>«ni$tration plans to do
about ruing pr cs and wage prob
lem*.
Valentine indicated that the fov»
rrnment has not yet mooilLed a staff
to carry out the controls even if it
wished to do so.
Snyder's forecast was the first
outright statement by a top govern
ment official that across-the-board
controls on wages and prices may
be inevitable
Meanwhile, the Senate voted to be
gin debate at once on a bill extend
ing federal rent control for two
months beyond the present expira
tion date on December SI.
In the houae, hearings are now go
ing forward on a separate bill to ex-
tend rent controls for the full 90-
day period requested by President
Truman. Under present law federal
controls end December 31 except
where communities have acted to re
tain them.
Testifying before the Senate fin
ance committee. Secretary Snyder
made his prediction on the likelihood
of wage-price controls in reply to a
question by Senator Millikin (R.-
Colo.). Snyder declined to say, how
ever, when the controls might be
clamped down.
Cotton Supported At Ninety
Percent For 1951
Charles F. Brannon, secretary of
agriculture, has announced the price
support on 1951 cotton set at 90 per
cent of parity, according to letter re
ceived from R. W. Hamilton, chair
man, South Carolina State PMA
Committee.
There is to be no cotton acreage
allotment for 1951. The government
is asking for a 16 million bale cot
ton production for next year. Farm
ers who have labor, equipment and
land should increase their cotton ac
reage for next year, keeping mind
not to upset or unbalance a sound
agriculture program on their farm
Farmers who are developing grass
farming and livestock program on
their farm should not sacrifice their
balanced progra min the face of the
cotton situation.
CREDITOR’S NOTICE
All persons having claims against
the estate of Herbert M. Chaney, de
ceased, are hereby notified to file the
same duly verified, with the under
signed, and those indebted to said
estate will please make payment like
wise.
CARL I. CHANEY,
Executor.
Nov. 30, 1950. 21-3c
A Gift from Prather-Simpson
means Quality.
Old Fashion
POUND CAKE
Iced Christmas Decorations
TINMAN'S BAKERY
Phone 334-W
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JACKETS
In all the latest styles
L. B. DILLARD
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FI.I
Cans
Buy Several Cans at This Pric.! Sansi
12-0*
Can
Roast Beef. ct 39 c
Nationally Advertised Value! Shortening
Bake-Rite .. T. S? e
Rose Royal Plain or Self-Risin*
2S-Lb.
Up
Flour .
$1.75
Sardines . 3
Dole’s Fancy
P’apple Juice
Dixie-Home Quality—Fancy
G’fruit Juice
Famous Brand Grits
Jim Dandy .
Aunt Jemima White
Corn Meal .
Cranberry Sauce
Ocean Spray
20
39®
25®
35®
33®
17®
Cudahy’s Gold Coin Sliced
BACON
ib. 43 c
You’ll iH go for this
sweet smrVed *acon at
this sweat price!
Extra Spcc'ai In Flavor—Smcked
co*»w QQC 7QC
Slecot-U WW Mess Ik ■ W
Sele'tr 1 Sllcee Tender
Easy to Prepare Fresh Fillets
Ham*r;99
Sele'tr I tllcee Tender
Bcof Liver. . * 65®
Ow - tit,-T n*er U $ G od Chuck
Beef Roast.. - 63 c
Whiting . . . - 29 e
Fresh Dressed Virginia
Pan Trout . . » 29®
Velio Brand Ce Lb. Colored Prints)
Margarine . . * 25®
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IS OU« OUll BOO COUOTISY
Home
Standard Pack
Tomatoes 2 Mo 2 Cana 25c
Sugar Pea* 2 29c
Do) Monte Fancy Golden Cream
Corn . . 2 *** c '” > 35c
King Edward Imperial
Cigars . $2.89
Tampa Nugget
Cigars a los ef 5 O'i $3.75
Quart Also
Clorox . .
04.
a B«4.
17®
Paanut Butter
Peter Pan .
M-Oi
Tumbler
Kriapy Crackers
Sunshine .
lb.
U Pkg
27 c
Peter Pan Salted
Peanuts . .
7i Or
Jar
N. B. C. English Style
Biscuits . .
12-01.
PkO-
39'
Soap of Beautiful Women
Camay . . X
1
1 Bert
35 e
31 c
27‘
California Red Emperor
Grapes.
Juicy, Thin Skinned Florida
Oranges 0 Lb. Mesh Bag 45c
Extra Fancy Western Delicious
Apples .... 3 ib. 37c
Canadian Waxed
Rutabagas a a 3 15c
U. S. No. 1 Iriah
Potatoes . . 10 ib< 35c
Veri-Best Yellow
Onions .... 4 ib> 16c
Firm Red Ripe
Cranberries Lb. Cello Bag 19c
Fresh Crisp Sno-Ball
Cauliflower . . 2 ib> 23c
Fancy Slicing
Tomatoes “31c
Tasty Peanut Butter
SWIFT’S
12-Oe. Jaf^jjj®
Granulated £oap
OXYDOL
Giant Pk*. 79^
Dishwashing Sensation
DREFT
Gient Pkg. 79^
Ivory-Mild
IVORY SNOW
Lt*. Pko. 3Qc
Household Cleanser
SPIC & SPAN
2 e - 47 c
It’s Pure! It Floats!
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2 Med. Bert ^ QC
Tides In! Dirts Out!
TIDE
to* Pko 30^
Laundry Soap
P&G
3 t-ge. Bart 24^
Swift’s Quality
JEWEL OIL
Pint Set. 32®