The Clinton chronicle. (Clinton, S.C.) 1901-current, April 26, 1951, Image 13
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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
<>
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.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