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/ / Thursday, April 26, 1951 THE CLINTON CHRONICLE Page Fire FINAL SETTLEMENT ‘ Tahe notice that on the 29th day of June, 1951, 1 will render a final account of my acts and doings as Administratrix of the estate of Vir- gi] Furman Kinard, in the office of the Judge of Probate of Laurens County, at 10 o’clock a.m., and on the same day will apply for a final discharge from my trust as Admin istratrix. Any person indebted to said estate is notified and required to make payment on or before that date; and all persons having claims against said estate will present them on or before said date, duly proven, or be forever barred. LEONA A. KINARD, Administratrix. April T, 1951 4t-w-3 Babson’s Letter South Korea. We have Commun- 1 ists in the United States. Even in the Government itself, according to — reports- And we have even worse New York City, April 13—Newl disru P tive influences in Washing- issues of corporate bonds bearing ton. And the real head and heart of the highest interest rates since the Communism in all the world is ‘late 1930’s have just made the fi-' Russia. We deal with Tito and his nancial headlines. Business is pay-; Communist government; we send ing more for its money, as well as money to France, which has many for its wages and materials. Communists; not to mention Italy Government Bond Market The Bellwether Just as the old belled ram leads Dr. Fred E. Holcombe Offiee Hours 9:09 to 5:S9 200 South Broad SL OPTOMETRIST Offices at Phone 658 Dr. Felder Smith Optometrist Laurens, S. C. 126 EAST MAIN STREET South Side Public Square HOURS FOR ETE EXAMINATIONS: 9:09 to 6:29 Wednesdays 9:99 to 12:29 Phono 794 Goodyear and Tubes BATTERIES AND ACCESSORIES McMillan Service Station Sinclair Products Phone No. 2 trMttd effectively is hvadreds if cases, wfth saving of Hum ky the FAMOUS AB-DITOX 7-BAT MBTNOB Staps the waatiag oad craving far driakl VTriti m»u ft frt* tnformmtttm in flnim tnu'tp* Abt Sanitarium 60S I NORTH ST Til J-44RS GRfiNVIlli S. C <> * 9 .4 59 G R E Y H O V N But the president picked out Korea for a demonstration of our determi nation to stop the spread of Com- A . , . munism. By the blundering of Mr. the rest of the flock, so does the x ruman an( j General Marshall, government bond market point the, was a v j c tj m 0 f Communism, way for corporate bond prices. ^ Q enera i MacArthur was ordered a month ago it was announc-, tQ savg Korea ^ he did) ed that the feud between the U. S. dr i v j n g th North Korearts back al- ( Treasury and the Federal Reserve mos ^ china. Then our inspired I been ended. Both parties to ^ s t a tesmen stopped him. There he t j C ]°r, g d ' lsa 2[^ m ®u t ^ ad reach- and jjjg arm y stood a sthe enemy 1 ed full accord. Now, the thing p re p ared f or fresh attacks, MacAr- upon which they had agreed was t ^ ur and the so-called United Na- j a ne '* r is fue of long-term gov-, tions army must not cross a line, , ernment bonds should bear 2 *1-4 though the enemy was there pre- per cent interest instead of the 2 p ar i n g f or fresh attacks, MacAr- to look out for themselves: they resistance,” as they would now be hold Hong Kong, a great and rich called, which were left for a time, city; so they fear an uprising on The city of Salem, for example, the mainland of China. After all. afterward called Jerusalem, was their interest fills their minds; and i e ft until the time David in the our government has become so hands of the warlike Jebusites. foreign-minded that It can’t think Soon after Daviof began io reign of America! Salem was taken and made the I commend Representatives Riv- capital of the country, ers and Dorn; they spoke like ^The magic of Joshua’s name was Americans; we are getting” tired of sufficient to command the loyalty 1-2 per cent figure that had been 1 the going rate for similar issues. Immediately a tremor ran ; through the financial world. As it became clear that the Federal Re serve had really “won the argu ment of raising interest rates, gov ernment bond prices sofetened. At the same time, corporation bonds began a price decline that is still in progress. Commercial bankers thur wasn’t permitted even to send planes to observe the enemy as he built up his forces. MacArthur wasn’t permited to attack the might stir up a war in China (or him. Why was that? Because that permitted to use a half million Chi nese troops that wanted to help Chinese coast towns; nor was he with China, or with Stalin! The politics and the sacrifice of real n-j 0 f the people, and during national Interest for the i sake of Party loyalty or regular-' ity. After all, if America,' the real America, is lost where will the Democratic party be? The Demo cratic party is today largely an or ganization of old political hacks.) except in a few Southern States,) including South Carolina. Who has slapped the South' in the face time after time? The Northern Demo crats and th Trumanite crowd. Are you proud to claim kinship with them? quietude and harmony continued through the old general’s lifetime. And all the elders who had been closely associatd witli Joshua were a wholesome influence in the coun try. But, after Joshua and all the elders were dead, another genera tion arose that knew not Jehovah and thy were .destined to make trouble in the country. And every man of them did that which “was a measure of I right in his won eyes.” Savings Accounts 3%—DIVIDEND—3% Six-Inch Sermon By REV. ROBERT H. HARPER THE SETTLEMENT OF CANAAN Lesson for April 29: Joshua 14: 6-13: Judges 2; 7-10; 21:25. Memory Selection Joshua 1:9. After the conquest of Canaan under Joshua, the land was divided among the tribes. The old warrior, Caleb, came to Joshua and asked Irt !•% taal • rwaMrfp Rd. One Trip Way Greenville —21.66 $1.66 Bolwnbla 2.65 1.45 Charleston 7.20 4.05 '■'^Atlanta — 1.95 0.40 ’Knoxville 8.40 4.65 Myrtle Beach 8.85 4.90 WUmington, N. C 10.55 5X5 Jacksonville, Fla 12X0 7.65 Washington, D. C 18X5 10.45 New York, N.Y 26.55 14.95 New Orleans, La 22.15 12.85 Fayetteville, N. C-... 8.55 4.75 Pins U. S. Tax CLINTON BUS STATION East Carolina Ave. Chinese, with Stalin’s help were became frightened and have since killing our boys and are killing been casting an increasingly wary) our boys, but we must not excite) him for Hebron, reminding Joshua eye at all applications for loans, the Chinese! Sounds asinine to that Moses had promised to give Even the stock market has lost its me. And the professional Demo- him the land on which he should pep. A glance at the course of the' crats, the boys on the payroll and 1 tread as a reward for the report, ; popular stock “averages” will show called Democrats, they rush to de- brought back as. one of the spies you that, since early March, stocks fend Mr. Truman! An absurdity sent into the land. And Caleb was I have been reactionary. That is why | that borders on treachery to the gi%”en possession of the place he re- I say: Watch government bond Army shedding its blood. Why quested. ; prices;i they are better bellwether our men and refuse the aid of a The greater part of Canaan was for finance in general and for the gallons while British and French taken over by the Israelites, from must American blood be spilled in Dan to Beersheba and from the We invite savings accounts from the people of Clinton and vicinity. You will like our friendly and efficient ser vice, and you will receive your dividend promptly each January 1st and July 1st. Any amount — from $1 up — opens an account. Each account is insured up to $10,000 by the Federal Savings and Loan Insurance Corporation. Two people may have up to $30,000 fully insured. Accounts by mail promptly acknowledged. Chartered and Supervised by the United States Government bond market in particular. PoMibU Effect on Stock« blood is spilled in drops? Going back through the years,' half-immion Chinese? you that a persistent and drawn- out decline in bond prices is fre quently followed by a good-sized slump in stocks. Studies show that the time lag between the fall in bonds and the later descent in stock, prices vary widely. Sometimes stocks follow bonds down only a few weeks later. At other times., close to two years have passed be fore stocks have taken a tumble. The reasons for this are not hard to find. As bond prices fall, the yield therefrom rises and narrows the gap between treturn on bonds and the income from stocks. If, the old relationship between the) two is to be reestablished, stock prices must decline. Only during periods of feverish speculative ac tivity are buyers willing to over look the need for getting a consid erably bigger income from stocks, 1 as compared to bonds, to “pay them! back” for the greater risk that stocks carry. "Diffaraai This Tima** However, some of my friends tell, me that it is going to be “different | this time!” They point out that I the spread between stock and bond yields, even after the recent rise in the latter, is much greater than usually exists. Therefore, they say, the return on bonds could rise quite a bit higher without greatly dis-l turbing stock prices. They also cite the fact that very few stocks are being carried on borrowed' money and that higher interest rates will not cause any amount of selling on that score. These objectors may, of course, be right. But, I should like to leave this thought with wou: when storm, signals are flying, wise skippers heed them. Likewise, when old- financial warnings appear, wise in vestors will diversify their funds carefully among sound well-select-; ed common stocks, and hold a size-j able reserve in cash and high-grade short-term bonds against an “unex pected” shift in the trend. Advic* On Bonds My father told me years ago, “Never send a boy on a man’s er rand!” This advice fits today’s bond buyer. Whatever you do, don’t build an investment reserve of all long-maturity bonds, no mat ter how high the quality. A one- per-cent rise in interest rates can wips out a number of years’ income in the shape of a price fall in your long-term bonds. That is a risk you should avoid at all costs. In bond buying, stick to short-term governments, good convertible cor poration bonds, and tax exempts that you can hold to maturity. Why kill j Philistines on the west to a point far east of the Jordan. Here and Our English friends are well able! there there were left “pockets of Laurens Federal Savings & Loan Association Telephone 22271 LAURENS' LARGEST SAVINGS INSTITUTION 104 West Main Street Laurens, S. C. ~ . - — J-L ■ THE GENERAL COMtS HOME By Columnist George Sokobky) Mr. Truman was within the law in removing General MacArthur, though there may be a question about that. The President is Com- mander-in-Chief of the Army and Navy, of the Arm$t and Navy of the United States, but not of the United Nations. It is what a “lawyer calls a nice point: General MacArthur was not the United States, but he governed only Commander of the troops of Japan as representing the Nations of the Second World War. But the President dismissed MacArthur from all the positions. I merely make the point casually because the United Nations seems to be a sort of flop, though operating expen sively and ambitiously at the cost of American taxpayers, “for the m6st part.” What was the real trouble? Even though Mr. Truman may act within his legal powers he is him self a servant of the people and must answer to them. Mr. Truman, in a sudden bunt of inspiration, decided to stop the Northern Koreans from siezing whan PROTECTION count$ > i Sometimes people see the need for protection only when it’s too late, locking the barn door after the horse has been stolen is an age-old fable of futility. All of us guard against dangers that appear imminent. Threat of flood drives vs to building levees, piling sandbags. But too often the inevitable dangers that threaten our families', security are disregarded or forgotten. For most of us the only real guarantee of the future security of our families is life insurance. Why not examine your own situation? Are your wife and children protected—or are you taking the risk of waiting until it's too late? I wm*m The Equitable Life Assurance Society off The United States Thomas l» Parkinson • Prosidont 393 Seventh Avenue • New York 1, New York I V- Represented by: C. E. GALLOWAY 305 W. Walnut Street Telephone 274