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iV, i The Chronicle Strives To Be A Clean News paper, Complete, Newsy and Reliable % Volume UI A Chronicle Feature BUSINESS AND FINANCIAL OUTLOOK GIVEN FOR 1952 , If You Don’t Read The Chronicle You Don’t Get the News Number 51 tA# Noted Statistician Discusses Problems Confronting the American People: Says Taxes Will Be Higher, and More Deficit Financing. L * i ■ 1 > ■ 4 By ROGER W. BABSON 1. Excluding defense orders, the total business volume in 1052 will be less than that for 1951. However; National Income in 1952 will be very high, as war orders take the place of peace production. Gvireniment Controls 2. Th& outstanding feature of 1962 —barring all-out war—will be the Presidential Election on November 4, 1952. I comment further upon under paragraph 48. . 3. The Administration and its eco- nqmic advisors appear firmly con vinced that radical inflation is^about to break out next year. But the “brain trusters” are overlooking the fact that the bbom is already old and that it was creaking badly when the Korean War broke out. The date of the slide has only moved ahead. 4. Farm income will continue high in 1902. 5. As 1952 wears on, the effect of controls, increased taxes, and high prices will cause a decline in legiti mate business. If civilian production declines too much, the public may then cry, "This is a government- made slump; let’s change the Ad ministration. 6. If in 1942 it becomes evident that business is declining too much fts a result^of government curbs, thei planners r -*t Washington will rush theirpatient into an oxygen tent. , Labor Outlook 7. Many labor groups wilt be suc cessful in getting another round of wage increases in 1962. Although there may be more important Strikes in the first part of 1952, there should be a decline in work stoppages in the last half year. sl Tightness in the labor supply will continue through 1952, partic ularly of highly-skilled workers. Wages of such workers will be ad vanced voluntarily in order to hold them. f. The Taft-Hartley Law will not be repealed during 1952, but may be amended. The Administrators of the Law will continue to wink at some of its clauses. Commodity Prices Win Remain Firm ;10. Wholesale prices of many commodities will suffer a mild de- Jji cline in 1952 when compared with the price level for December 31, 1951. In some lines the drop may be quite steep from the high levels of 1951. Retail prices for 1952 will hold steady. 11. Commodity speculation for a rise will not pay in 1952. Further more, our expanding stockpiles of strategic materials present a real price threat in the'event of a peace scare. Such stockpiles could then act strongly as a depressant on prices. Wise merchants will operate with only a conservative inventory. 12. T^ie cost of living will remain high dqring 1952. This prediction recognizes that living costs next year may continue above the lower levels that existed during the first half of the year now closing. I also predict further rises in freight and pas senger rates. . Farm Outlook Good 13. Congress will not take any action during 1952 to legally bolster so-called Fair Trade price mainte nance. It’s too risky politically when consumers are complaining about the cost of living. But, somy manufac turers will tighten up on/distributors, eliminating those who won’t sign Fair Trade contracts. 14. Barring crop failures, the total supply of food available should be Tlirger ■ftSS. 1952 than for 1951, since Peace HRISTMAS WEEK IN CLINTON 20 YEARS AGO n Items of Interest Then About Hoppenings And People You Know. Valter W. Arrin^ Passes In Greenville, Last Rites Held Here Funeral services for Walter W. (Tiny) Arrington, 59, Greenville, were held Sunday afternoon at 2 o’clock at the Associate Reformed Presbyterian there, conducted by Dr. C. B. Betts of this city. The body was brought here for committal services and interment in Rosemont Cemetery. Active pallbearers were: R. L. Plaxico, W. B. Tribble, Milton Blakely, Sam H. Byrd, Flemming Blakely and Jim Childress. The honorary escort consisted of the elders and deacons of the church, and employees of the company Bith which he was connected. Mr. Arrington was a native of Augusta, Ga., a son of the late Free man and Lucy T. Arrington. He had lived in Greenville since 1920 and had reported for work Saturday morning when stricken and later passed away at 8 p. m. He was con nected with the Battery and Elec tric Company, and was a imember of hie board of deacons of the Associate Reformed Presbyterian Church where he was a faithful member. Mr. Arrington married Miss Beth Blakely of this city, a daughter of Mrs. R. F. ^lakely and the late Mr. Blakely. He is survived by his widow and two sons, W. W. (Billy) Arring ton, Jr, and Robert F. (Bobbie) Ar rington of Greenville, and two grandchildren. ; the—gAveriunent will raise planting quotas as part of its attack on in flation. If the weather is extremely favorable', the government will be asked to give away surplus crops. 15. With prospects good for a rising supply of feed grains, most meat should be more plentiful next year than in 1951. Prices for beef, how ever,, will be held up by high wages an$ military needs. Local Taxes Will Be Higher 16. The burden of Federal taxes, both corporate and personal, will not be increased again during 1952 above the advance rate- in 1981. State and municipal taxes, however, will go higher again. 17. The above forecast is based on the assumption that unless Stalin starts World War M during the early months of 1952. he has made up his mind to forget Vbrld War III until the United States and our Allies again “Go .to sietfp,” which may be some years hence. We give this as a definite prediction as to the out look for World War in. 18. There are three ways of pre venting inflation: (1) increased pro- ductipn;_ (2) decreased spending; and (3) AS A LAST RESORT, in creased tajces. I forecast that the current exploitation and accompany ing fear are not yet at their peaks for this business cycle. 19. States and municipalities will again be under pressure to find ade quate sources of revenue. Further increases in sales taxes by States and Municipalities can be looked for next year. 20.. There will be no increase in ‘‘luxury taxes” during 1952. Domestic Trade Uncertain 0,1 II To flic n, CLINTON FACES QUIET, ENJOYABLE CHRISTMAS HOLIDAY SEASON Business Firms To Close Two Days. Mills Announce Closing Schedule. Shoppers Throng Streets and Stores. Yuletide Spirit In Evidence With Many Clintonians Returning Home. 21\' v ‘Cxedit curbs will continue to down 1 bold down} the demand for automo biles and .certain household equip ment. Completions of fewer dwell ings wall also act as a damper on furniture sales. 22. Falling demand for hard goods should stimulate the public’s spend ing for food and lower-priced soft goods. 23. The above trend forecast will mean a decline in department store VOLUME. I predict a rise in the sales of variety and drug chains. Foreign Trade Oatlook 'V34r-i--beheve-that armament is to become a new and permanent in dustry at least for many years to come. Airplanes, tanks, artillery, guns, and munitions will constantly be replaced as they become obsolete. This n£w~acti$dty will operate much '(Continue^TMLPege six) Today’s Christmas Edition ♦ * Today’s paper reaches our sub scribers when everybody is busy with last-minute shopping and preparation for Christmas. It comes to you however when there will be plenty time for the entire family to read its contents during the next few days and Christmas, after the rush is over. And we would point out that it contains much beautiful and appropriate Christmas material in addition to community news. Don’t miss any of its pages. Today’s 32 page paper is unusual ly large for a’ town this size. We hooe you will enjoy it. Merry Christmas. With pleasure we present to our readers today our annual "Christ- m&s Edition” following a long es- tablished custom. You will find in the edition much helpful advertising to assist shop pers in the last days rush, together with an unusually large collection of attractive "Merry Christmas and Happy New Year" greetings. These greetings come to you from the City merchants, banks, mills and varied other business firms. These messages, full of good-will and beautiful sentiments are in serted by Clinton firms as a means of publicily expressing their thanks and appreciation to their many friends and customers for their patronage, confidence and consid eration during the year now draw ing to a close. They likewise wish for everyone 365 days of health and happiness in 1952. THE CHRONICLE next week will go ot our readers on Friday morning instead of Thursday in or- iJr der that our employees "may enjoy ye | Christmas with theljr families. The streets will be crowded to day through next Monday with crowds of people doing their last minute shopping in preparation for Christmas. Clinton business firms will close down Tuesday and Wednesday as employees and employers celebrate the season with a holiday pointing to a happy observance. Business firms will reopen Thursday morn ing. The city and orphanage schools closed yesterday. Presbyterian col lege closed last Saturday. The postoffice'will be closed all day Christmas day and no deliver ies will be made. The Clinton and Lydia Cotton Mills will close Saturday morning and reopen Wednesday morning. Joanna Cotton Mills, Joanna, will cldse Saturday night’fbr a week and will reopen Monday, December 31. Other local plants will close down several days observing the holidays. Christmas cantatas and special programs have been presented in id s' the churches and schools the past week. Many will spend Christmas out of the city visiting relatives and friends, while others, including col lege students, have returned to their homes here for the holidays. Indications point to a quiet, en joyable Christmas for Clinton and this entire community. THE CHRONICLE wishes for its thous ands of readers a season of happi ness, free of sorrow, tragedy and anxiety. Mrs. Emma Little To Have 94th Birthday Mrs. Emma Little, affectionately known by many friends here and elsewhere, will observe her 94th birthday Friday, December 21. Mrs. Little has $pent most of her life in this community. For several years she made her home with her daughter, Mrs. Morgan Todd, in Simpsonville, until they moved back here a year ago and built a home on Woodrow street where they now reside. Mrs. Little is -ctee-^f the oldest residents ' of this community and the entire county. Hen -health is good, she says, she never has an ache or pain, and is always happy to greet all who drop in to see hei* Her friends unite in extending con gratulations and best wishes to her on being 94 years J ’yAung.” Christmas Play At Thornwel! A Christmas play, “Why The Chimes Rang,” will be presented on Sunday evening at 7:30 by orphan age voung people at Thomwell Memorial church. The play, under the direction of Miss Juliet McCrorey, has a musical part which will be rendered by the choir, directed by Miss Luva Mc Donald. Outdoor Christmas Scene on Church Lawn i. HAMP STONE CLAIMED BY DEATH Well Known Citizen Passes At Hospital After Extended Illness. \ The living outdoor Christmas scene will*-be showq, on the lawn of the First Presbyterian church on the nights of December 22, 23 and 24 from seven until nine o’clock. Several members of the church will take parts as characters in the presentation. v , The public is Cordially invited to see the impressive Christmas story. ^ E. Frank Anderson Contest* Winner E. Frank Anderson of this city, was yesterday announced by the Chamber of Commerce as winner in the Merchants Association Treasure Hunt. He will be awarded a cash prize of $15.00. Several other correct entries were submitted, Mr. Anderson’s having been received first, it waa stated. J. Hampton Stone, 75, lifelong and highly regarded Clinton citi zen, died Saturday afternoon at Hays hospital after several months of declining health. The funeral services were con ducted Nfonday afternoon from the residence on West Carolina avenu? by Dr. W. R. Turner, Dr. ©. J. Woods and Dr. J<)hn McSween. In terment followed in the Presbyte rian cemetery. ^ t . Active pallbearers were neph ews: William D. Adair, John L. Adair, Jr., Elbert Stone, Earl Hor ton, W. B. Tribble, John W. Fin ney, Sr., Charles and Alfred John son. ' c The services were attended by a large gathering of relatives and friends, many of whom had known and admired Mr. Stone through his long residence here. Many floral tributes banked upon his grave at tested the esteem in which be was held. , Mr. Stone was a native of this section of the county, the son of the late William A. and Frances Copeland Stone. He was a member of the First Presbyterian church. A first-rate citizen, a man of high ideals and sterling qualities, mod est. unassuming and kind in man ner, he will be greatly missed and there are many to jqin in extending sympathy to his famflfy. urviving* are his widow, Mrs. Evie Lewis Stone; one brother, E. W. Stone of Union: one sister, Mrs. J. Washington Horton, and one half-brother, D. E. Tribble, of this city. Kiwonis Club To Act As Santa For Orphanage Family Winn Wins Watch In Jingle Contest Carlton F. Winn was awarded a 17-jewel Bullova watch set with diamonds, one of 200, in a recent “Lux lovely jingle contest.” The prize was one of 200 third prizes given nationally. ^ The Clinton Kiwanis club, fol lowing a practice of many years, will again serve as Santa Claus for the boys and girls of Thornwell or phanage. v Bags will be presented all* the children Christmas morntn^ con taining an assortment of fruits and candy, with several club members present and Santa in person for the presentation. The bags will bear the greeting, "Merry Christmas, from the Kiwanis club.” (Imoc of The Chronicle, Decem ber 23. 1931) The banks of the. city will be closed Friday and Saturday for Christmas. Large audiences attended the special Christmas programs Sunday at the First Presbyterian and Broad Street Methodist churches. George Pringle Copeland passed away e^rly' Tuesday morning at Dr. Hays hospital. The funeral services were held Wednesday af ternoon from the graveside with interment following in the family burial ground in the First Presby terian church cejnetery. R. L. Plaxico has been elected worshipful master of the local •Masonic order for the coming year, and V. P. Adair, secretary. The local A A P store will move today from its present location on West Main Street into the building | on Musgrove Street vacated by B. L. King. The latter has moved mtp the store room on North Broad for merly occupied by Blakely Bros. On Saturday • aftrenoon Mrs. E. M- Timmerman gave a Christmas party for her piano afid dancing pupils at her home -on Centennial Street The Kiwanis ladies night party was given at Hotel Clinton Thurs day evening with its president. Rev. C. B. Betts, master of ceremonies. A Christmas program was enjoyed. Miss Clara Louise ODaniel and Robert N. White were married Sat urday afternoon at the Episcopal church in Pulaski, Va. Saturday afternoon Mrs. J. F. Jacobs presented her Christmas re cital with a number of pupils .ap pearing' on the program. Misa Grace Fliedner of Montreal Normal, Montreat, N. C., is spending the holidays' 1 with her mother, Mrs. Annie Fliedner. Ms. and Mrs. Thornwell Dunlap and little son, are spending Christ mas in Sandersville, Ga., with Mrs. Dunlap’s parents. Mrs. H. M. Wise and little daugh ter Toccoa of Jacksonville, Fla., -are spending the holidays with her par ents, Mr. and Mrs. R. B. Vance. . Cadets Robert Steer, Joe Workman and Rey Pitts of Clemeon, are spend ing the holidays with their parents. Mr. and Mrs. Brewer Dixon and children of Talledega, Ala., are nding the holidays with Mrs. Dix on’^ parents, Mr. and Mrs. C. M. Bailey. Miss Margaret Bethea, of Dillon, is spending the holidays with her sister, Mrs. W. W. Harris, and fam ily. William Moorhead of Duke Uni versity, is with his parents, Mr. and Mrs. W. A. Moorhead for the holi days. Dr. and Mrs. Jack H. Young have gone to Pulaski, Va., to visit their daughter, Mrs. J. M. Dick and Mr. Dick. l . Dr. B. O. Whitten and daughter* Miss Mildred, will return today from, American Fork, Utah, where they have been the past six months. Misses Abnena and Dolly Milling, students at Converse College, are home (or the holidays. The following Winthrop girls are at home for the holidays: Misses Elsie Little,, Sara Copeland, Sadie Chandler, Ruth Todd, Bert Pfeay. Ella Little McCrary, Helen Milam. Lidie Leake, Virginia Kellers. Eva Dominick, Mary Black, Grace Davis. Evelyn Ramage and Rachael O’Dan- iel. ^ Miss Janet Leake of the Univers ity of South Carolina, is spending the holidays with her parents, Mr. and Mrs. J. Will Leak*. Mrs. J..S. McGregor and children- of Ruby, are the guests of her mother, Mrs. T C. Sumerel. Miss Bettie Williams of Los Ang eles, California, is Ike house guest of Miss Burns Browning, having ac companied her home lor the holidays. Miss Frances Black is attending the quadrennial convention of the National Student Volunteer move ment being held in Buffalo, N. Y. Mr. and Mrs. Andrew Barker of' Atkins, and Mrs. H. K. Neely and little daughter of Atlanta, are with their parents, Mr. and Mrs. A. B. Blakely, for the holidays. Mrs. H. A. Copeland, Miss Sara CopeJand and Arthur Copeland are spending Christmas m St. Mat thews with their daughter and sis ter, Mrs. T. F. Wallace. Mr. and Mrs. R. W. Porter of Spartanburg, are rpualing the holi days with Mr. Porter’# mother. Mrs. W. S. Porter. and Mrs. Jack W Dillard and daughters. Misses NelJe kpd Ac i. of Spartanburg, are ipendiqg the holi days in the city with relatives. , Mrs. Maude Hampton an.* Miss Ella Adair are on a trip to 4 vuuts of interest m Florida. .a—*—*