The Clinton chronicle. (Clinton, S.C.) 1901-current, February 21, 1952, Image 11
Thursday, February 21, 1952
/ •
THE ©LINTON CHRONICLE
Page Three
• J C- It
Jt)
* NOTICE OF SALE
The State of South Carolina,
County of Laurdhs.
In Court of Common Pleas.
D. E. TRIBOLE CO., A Corporation,
Plaintiff,
vs.
LAURENS R. GLEEN and ONNIE
GLEEN, Defendants.
Pursuant! to a Decree of the Court
in the above stated case, I will sell
at public outcry to the highest bid
der, either in or in front of the Court
House, at Laurens, S. C., on Sales-
day in March next, being Monday,
the 3rd day of the month; during the
legal hours for such sales, the fol
lowing described property, to wit:
All that piece, parcel or lot of
land, with dwelling house thereon,
situate, lying and being on the east
side of Livingston Street, in the
Town of Clinton, Laurens County
State of South Carolina, bounded on
the north by lot now of ft. C. Wilson,
formerly of Arvin Wilson and Sarah
Wilson, shown and designated as Lot
No. 8 on the plat of subdivision here-
_inafter> referred to, two hundred
twenty-four (224) feet thereon in a
straight line; on the east by Sea
board Air Line right of way for Y
track, seventy-two (72) feet there
on; on the south by the lot formerly
of Marie M. Owens, now of John
Henry Jacobs, shown and designated
as Lot No. 10 on plat of subdivision
hereinafter referred to, two hundred
forty-five (245) feet thereon in a
straight line; and on the west by
Livingston Street, seventy (70) feet
thereon. Said lot above described is
shown and designated as Lot No. 9
on plat of subdivision of property of
Mrs. Marie M. Owens, made by S. T.
Martin, dated June 24, 1947, and re
corded on July 9, 1947, in Plat Book
5 at page 82, in the office of the
Clerk of Court for Laurens County,
South Carolina, and reference is
hereby made to said plat for a more
accurate description of the said lot.
The lot above described is the iden
tical lot conveyed to Laurens R.
Gleen and Onnie Gleen by Marie M
Owens by her deed dated July 8,
1948, which deed was recorded on
July 9, 1948, in Deed Book 95, at
page 488, in the office of the Clerk
of Court for Laurens County, South
Carolina. ' —
Said sale shall be subject to the
lien existing on said property in fa
vor of Citizens Federal Savings &
Loan Association. The bidding shall
.be closed on the day of the sale.
Terms of Sale: Cash.
■ ft. <■
The successful bidder, other than
the Plaintiff-herejiv irnmediately up-
' on the conclusidn? p|»the bidding,
shall deposit wMh^he (5}erk of Court
the sum of five per cent (5%) as a
guarantee of his good faith in the
bidding. The same to be applied to
the purchase price upon his comply
ing with the terms of sale, otherwise
to be paid to Plaintiff for'credit on
the indebtedness. In the event the
successful bidder should fail to make
such deposit, or should fail to com
ply with the terms of sale, the said
lands shall be re-sold on the same or
some subsequent Salesday on the
same terms, at risk of the defaulting
purchaser.
The purchaser to pay \>r papers,
stamps and recording.
W. E. DUNLAP,
C. C. C. P. & G. S.
Dated this 12th day of Feb., 1952.
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E Rl v;! EE GRAY and
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When I harp on the danger of
Socialism I am the more deeply
concerned because the young peo
ple are either not interested or,
else, are leaning toward Socialism
because of some text books and
some teachers. A widely known
and greatly respected citizen of
Charleston calls attention to this:
that at certain grass-roots meetings
in Charleston, called for the pur
pose of opposing the trend to So
cialism, there was no one present
under thirty-two years of age.
Pathfinder Magazine tells a story
of the Idaho brand of National So
cialistic politics.
“Protest meetings and public
opinion polls have made the senti
ment clear. The sturdy people of
Idaho’s Snake River Valley don’t
like socialism in any guist. And
they do like their Idaho Power Co.,
which has electrified nearly 99%
of the area’s 27,000 farms—at rates
42% below the national average.
Yet last week Idaho Power faced
a fight for its very future as pub
lic power men sought desperately
to frustrate its expansion.
By the simple device of holding
back a construction license, the
Federal Power Commission has
stalled for four years Idaho Power’s
proposal to build a hydroelectric
dam at Oxbok, a Snake River site
owned by the company for more
than 30 years. Reason: The U. S.
Bureau of Reclamation doesn’t
want Idaho Power to build the
dam (and four others proposed for
Brownlee, Sturgill, Bayhorse Rap
ids and Hell’s Canyon). lostead, it
wants a single dam at Hell’s Can
yon.
Cost of the five smaller Idaho
Power dams: Less than $200 mil
lion, financed entirely by ( private
capital and taxpaying upqn com
pletion.
If the Federal dam goes up, it
will not only take the Hells Can
non'site but also wiH flood Idaho
Power’s four other sites.
Why do other areas of tht North
west need this extra power any
way?, they ask. Invariably the
answer points to aluminum-makers,
induced to Northwest by public
power ng^n. ‘With the deliberate
intention’, Snake- -Valley people
say, ‘of creating such a power
shortage that Congress would ap
prove the building of more public
dams.’
Public power men weren’t stop
ped even when Congress rejected
their request for money to build
th Hell’s Canyon dam. ‘It’s still
part of our basic plan,’ said Bon
neville’s Morgan D. DuBrow last
week.
Should taxpayers have to foot
bills for projects private industry
would build? Shoqld Government
be allowed to thwart development
of any area—perhaps yours?”.
The Investor’s Reader tells an in
teresting story:
“One example of the cost differ
ential in public and private power
is tucked away in a recent engin
eers report prepared for New York
City. Wrote the engineers: Tn a
typical large modem high-pressure,
steam-power station of 330,000 kw
capacity the personnel required is
132 on a 40-hour week.
On the other hand in the City’s
74th Street plant which has less
than half this capacity there are a
Jotal of 433 persons working 48
hours weekly.’
The City now buys about 28%
of the power required for its vast
rapid transit system. In the latest
fiscal year it paid Consolidated Ed
ison 1.1c a kwh for power versus
1.4c as the cost of city-generated
power. Moreover Con. Ed. gave the
city a $682,000 ‘kick-back’ in the
form of taxes. Concluded the New
York Times: *. . . the City should
go out of the power business en
tirely.”
Are we all crazy; or should sen
sible people ^arouse themselves and
correct the foolish course?
» • •
Tn what direction is this Na
tion growing? Maine, Massachu
setts, Ptnnsylvania, Kentucky, Mis
sissippi, Minnesota, the Dakotas,
Nebraska, Kansas, Oklahoma, Iowa,
Missouri, Arkansas have very small
growth. New .York, the Carolinas,
Wisconsin, Illinois, Indiana, Ohio,
Tennessee, Alabama, Georgia, West
Virginia have less than average
gain, but growing substantially;
Virginia, Connecticut, Michigan,
Idaho, Wyoming, Colorado and
Texas are above average in devel
opment; but Delaware, Maryland,
Florida, all the Pacific coast, Nev
ada, Utah, Adizona nad New Mex
ico are booming.
When you order a steak you
think the life of a cafe or restau
rant operator is the life of Riley,
don’t you? I have a fine old friend
in Columbia who has a cafe. Near
ly every time I see him he is at his
cash register. All this time I’ve
thought he was always busy put
ting in money; perhaps he was tak
ing it out
How does this impress you:
“The $7 Billion A Year restau
rant business is in the soup. This
is the sad fact even though na
tional income is at an all-time high
and many an industry rings up
rtfeord profits. But the men and
women who run 350,000 U. S. eat
ing places serve 66,000,00 meals e
dfeyi' aitf 'iift little for their work
but slim earnings — and often
losses.”
“X has 53 restaurants mostly in
New York city. In 1950 it reported
sales of $40,946,000 and profits o7
$1,032,000 (93c a share). Four years
befort it earned twice as much on
sales of $37,240,000. Things are still
dreary with a $53,000 loss for the
September nine months, the worst
since anyone, cares to recall..
Mute evidence of operating diffi
culties is the Y Company whichr
operate? 73 cafeterias and was once
a junior blue chip. The chain serv
ed 44,000,000 customers in 1950,
rang up sales of $15,678,000 put lost
$248,000 in the process. Back in
1943 with almost identical sales
profits were $811,000.
Restaurant men agreed on the
ailment: costs on the increase and
selling price sqashed between price
ceilings and consumer resistance.
Tht problem is compounded since
the average check in restaurants is
less than 30c, even with inflation.
Reason: many customers drop in
for only a cup pf coffee or a glass
of water and a toothpick.
Of coursa, a»man who can order
a steak, just so,-should have his pic
ture in the papers, like Babe Ruth
knocking a home run over the right
field bleachers.
* * *
Even the bankers have troubles;
it must be a sad world.
“Operating earnings of most
banks above 1950 but not good
enough to show a reasonable return
on capital compared with many
other businesses. Naturally the re
suits varied widely among the
14,000 banks (including 6,800 mem
bers pf the Federal Reserve sys
tem).
Despite their better prosperity,
many bankers are not altogether
happy. They groaned at the bite of
taxes; they are plainly worried
about the high rate of government
expenditures; they ponder what
will happen late in 1952 when the
U. S. treasury must sell many more
bonds to finance its deficits.
Based on their recent record, tht
banks will struggle through some
how — and probably make more
money in the process. In the five
years since War II, the nation’s
bank assets have undergone some
significant changes. By the end of
1945 the commercial banks alone
owned $90 billion in government
securities. On this huge investment
the banks earned less than $2% a
year because of the treasury’s
cheap money policy.
An interesting postwar change is
the growth of certain banking
-areas. For two decades the big New
York City banks have lost ground
in their proportionate share of total
deposits ,an indication that banks
in smaller spots handled local
needs. In 1941 New York banks ac
counted for 30.3% of all deposit
holdings, now they have only
19.3%, slightly above the 1950 tally
of 18.9%, which was a ten-year low
point. In growth areas like Texas,
the Second National Bank of Hous
ton has increased deposits 450%
since 1941, the First National of
Dallas is up 200%. In prosperous
California, the giant Bank of Amer
ica deposits have jumped 250%,
and Security-First National is up
160%;.
tops
t < > r
quality
tops
for
quality
Fresh Day Old Eggs
Large, brown and clean, from healthy
hens raised at my farm. Fed and tended
by me. Eggs gathered and sold each day
through Joe's Esso Station.
Phone 128
joe c. McDaniel
America’s Biggest
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When you buy the big, BIG 12-ounce
bottle of Pepsi Cola, you get TWO FULL
GLASSES in every bottle — yet you ALSO
get top quality in every drop. Ounce for
ounce, no finer cola! So today tomorrow,
ALWAYS — buy America's BIGGEST cola
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Whenever you shop, always take home
six big, BIG 12-ounce bottles of Pepsi-Cola
for the family! TWELVE full glasses —
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No Finer at Any Price!
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PEPSI-COLA BOTTLING CO.
" GREENVILLE, S. C.
Say "1 Saw It In The Chronicle" — Thank You!
■ ■■ ■" ■ • ■- r'. •' —— 1 ■ * ■■■■■■ 1 ■ ■ ■
« „ ^
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