The Clinton chronicle. (Clinton, S.C.) 1901-current, May 29, 1952, Image 9
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The Chronicle
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and Reliable
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If You Don’t Read
The Chronicle
You Don’t <?et the News
Volume LIU
Clinton, S. C., Thursday, May 29, 1952
Number 22
A Regular Chronicle Feature
BASE INVESTMENTS ON GOOD
MANAGEMENT, BABSON SAYS
Earnings No Sure Sign
Of Firm's Soundness,
He Holds.
By ROGER W. BABSON
Babson Park, Mass., May 23.—
E. H. Harriman was probably
America’s greatest railroad builder.
Incidentally, he was the father of
the present W. Averell Harriman,
formerly Ambassador to Russia and
who is now seeking the nomination
for President on the Democratic
ticket. Once, when riding in the
father’s private ear, I askedf “What
is the most important factor in se
lecting a good railroad invest
ment?” He replied: “Character of
the Management.
Good Management
can make a prof
itable rail r oa d
from two streaks
of rust; while poor
Management can
turn a good rail
road into two
streaks of ruet.”
I then thought
that by studying
Roger W. Babsoa tihe location, cap
italization and earnings of a rail
road it would be possible to tell a
good investment from
(trained newspaper men are use
ful in detecting bad Managements;
but the popular policy of leading
Banks, Insurance Companies, and
Investment Trusts to depend upon
so-called “investment analysts’’ is
dangerous practice. Colleges have
graduated hundreds of these in
vestment analysts and they hold
such jobs today. They are honest
and hard working young men, but
very few of them can forecast the
future of a corporation by relying
6n published reports.
To prepare worthwhile reports on
the Management of any corpora-
f§l| y < V
Wm * 2}
i'i 'fJt
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tion, it is necessary to visit the
plant and talk with the officers,
directors and employees. Further
more, these men need not be judged
by the answers which they give to
your questions so much as by
their language, ethics and basis
principles. When interviewing men
high up in the management of a
corporation, I may learn more of
their character by discussing home
life, children, churches, schools,
liquor, race tracks, and other gen
eral subjects than by talking about
their own company.
What the Neighbors Report
In addition to such personal in
terviews, I .have information con-
be remedied if you go over them
with a cloth which has been damp
ened in ammonia.
Sagging cane chair seats can often
be tightened sufficiently to be almost
like new if they’re washed in hot
soapsuds to which some salt has been
added. Rinse in clear water; dry out
side. When nearly dry, cover the
cane with a cloth and run a hot iron
over it.
RECIPE OF THE WEEK
Banana Tea Bread
(Makes 1 loaf)
1% cup sifted flour
2 teaspoons baking powder
V\ teaspoon baking sodfe—
Vi teaspoon salt
1-3 cup shortening
1- 3 cup shortening
2- 3 cup sugar
2 eggs, beaten
1 cup mashed ripe banana
Sift together flour, baking pow
der, soda and salt. Cream shorten
ing, add sugar gradually, creaming
until light. Add eggs and beat well.
Add flour mixture alternately with
bananas, a small amount at a time,
beating smooth after each addition
Willie’s face,
She would miss, too, Sally’s dainty
grace.
“I shall miss you, everyone,” she
sighed.
A bad boy hung his head and cried.
He wished now he had been smart
and good,
He wished the time over, so that he
could!
Timidly, a big boy raised his hand,
J “I’m sorry ’twas hard for me io un
derstand.”
A tear glistened on the teacher’s
cheek,
Her throat was lumpy when she tried
to speak.
A little boy was sobbing loudly now’,
“I don’t want this old school to
be out nohow.”
So we come again to a school year’s
end
A time to say goodbye' to our teach
er, our friend.
With exams behind us, our promo
tion sure,
We forget how hard it was to en
dure!
We are loathe to leave the familiar
halls,
drying T-4-L from any druggist-
Now at McGee’s Drug Store.
For Athlete's Foot
Use T-4-L for 3 to 5 days. If not
pleased, your 40c back. Watch thej SAY:
old, tainted skin slough off to be re- “I SAW IT IN THE CHRONICLE’
placed by healthy skin. Get instant-
THANK YOU
THIS IS OUR TOWN
By ADELINE
Turn .into a well-greased 9x5x3 We look once more at names on the
inch loaf pan and bake in a mod
erate (350 F.) oven for an hour or
until done.
a bad in- actions through many thousands
vestment. Unfortunately, I have | , of ' lients and the four hundred
since found Mr. Harriman to be! flf ty newspapers which carry this
correct. There are too many whoi^ 0 ^ 1 ^ 11 ”- * a * s ? > ^l 71 one v ,.°! a c0n * 1 '
at the present time think they can denial organization which secures
select good investments and d e-1 unde ^ 0 \ er . inf o rm ation of the most
tect bad investments by studying lm Pprtant kind. These and other
earnings statements and other s ta-! ?P n ^d e ntial sources are in a ddi-
tistics, for the collecting and an-jtion to publications, vast files and
alyzing of which I now spend ajP^ted reports which all invest-
million dollars a year.
Such figures are valuable. Every
careful perton should study bal
ance sheets and earnings state
ments before investing hard-earned
money in any stocks or bonds.
From sad experience, however, I
have Jearned that such figures, al
though recording the past,-, are lit
tle indication as to what the future
will bring forth. To avoid losses,
one must look deeper. The future
iment advisors have to study. Read
ers should know that there are to-
4tay“ —over—750,000 coipuralJuns
whose stocks have been bought or
sold and are now a total loss, the
companies passing out of existence
Young people especially need to
realize the importance of charac
ter in connection with securing and
holding jobs, as well as in connec
tion with the investing of their
hard-earned savings. The strength
depends upon the Management. 1 America today came not from
Not only does the CHARACTER h® 011 ^ bl 8 business or
of Management change as new bu ^ t ^ e .^ U1 T S
- ’of CHARACTER implanted by
praying parents, devoted school
men are elected; tut Management of CHARACTER
will deteriorate under the same
men who stay too long, or become
walls.
The seniors are saddest, they leave]
for good,
So others can fill the places they
long have stood.
Memories are crowding—“Well, why
don’t we go?”
No one answers—I guess they don’t
TO OUR TEACHERS I know!
The teachers sighed and closed the' There’s loud talk, much forced
book, | laughter,
The students waited, with expectant | Don’t let the tears show now, wait
look; j till after.
“The last paper,’ ’she said, “and We linger long—hoping to get a last
school is out.” ' smile,
Strange, there wasn’t a yell, or a As if just one more would last all
shout. | the while.
She looked about the familiar room,) We leave — afterwards, whether we
The clean boards, unused chalk, the: be farmers, executives, preach-
, idle broom. ers,
She scanned the face of each boy and Let us always be a credit to our
Sleek-headed boys,* girlish hair in
curl.
She would miss the fixed smile of
teachers!
SUBSCRIBE TO THE CHRONICLE
“The Paper Evevrjoody Reads”
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EDERAL SAVINGS
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Telephone No 6
A Clinton Institution Serving Clinton People Since 1909
teachers.
employers and
careless. Unfortunately, the requir-, 60 ^ neighbors. ^
ed information to judge the charac- *+ j £. n
ter of Management cannot be se-! V3radUQt6 Or P. C.
cured from manuals and maga-! u _ _ |_ H Arian
zines, but only through personal! ,n , i. rea/
contacts and confidential studies. Awordcd SilvCF StOT
Importance of Character
I have almost reached the point | cheraw, May 26.—First Lt. Wil-
where I must employ retired FBI i i iam R Madden, Jr., son of Mr. dna
men as my assistants, rather than Mrs w Roy Madden of Cheraw,
statisticians or economists. A few! and graduate of Presbyterian col-
i lege, has been awarded the Sil-
I ver Star for gallantry in Korean
action. Lt. Madden volunteered
| to fly in an unarmed observation
plane to direct U. N. artillery fire.
Madden won America’s third
highest combat decoration f o r
heroism Feb. 28 while with Head
quarters Battery of the 3rd Infan
try Division’s Field Artillery Bat-
I talion.
I Realizing that if the plane were
\ shot down by enemy fire, it would
J not be able to glide back to safe
ty, Madden volunteered as an ob
server to direct U. N. 155 mm.
guns on enemy supply areas and
troop concentrations in an area
known protected by anti-aircraft
and automatic weapons.
Although Lt. Madden’s plane
was constantly under fire, he did
not return to his base until or
dered by the fire direction gun
center. As a result of Lt. Mad
den’s observation reported to the
direction center, large amounts of
enemy supplies were destroyed
and approximately 100 enemy cas
ualties were reported.
Note—Mr. and Mrs. Madden, par
ents of Lt. Madden, are former
Clinton residents.
Bring All Your
• GENERATOR
• STARTER
• RADIATOR
WORK TO US
Prompt Service
Guaranteed Workmanship
Wattsville
Generator and
Electric Service
On Spartanburg Road Just
Beyond George’s Writeway
Drive—I*
H. A. ROBERTS, Prop.
'IflW Ale*
• This fine pharmacy is
at your command. Skilled
Registered Pharmacists
will compound your pre
scriptions promptly and
precisely. We use fresh,
potent ingredients. Each
step is checked for ac
curacy. Try us next time!
DRUG STORE
Phone No. 1
AND
rIOME
To remove shine from serge,
spread out on a folded blanket, place
a wet cloth on the shiny portions and
iron across the surface of the cloth
twice, very lightly, using a very hot
iron.
Table pads do not leave lint on the
surface of the table cover if one side
of the pad is covered with muslin,
and that side is kept down.
(Does the buzzing of an electric fan
annoy you? Place a stack of thick
newspapers or magazines under the
base of the fan while it’s running
Make certain the fan rests securely
on them so there is no danger of its
falling.
Small holes in linoleum can be
patched with a mixture of finely
chopped cork and liquid glue. Let
this dry thoroughly and then apply
a clear coat of varnish.
Mouldy leather book bindings can j
MORRISON FURNITURE COMPANY OFFERS YOU A ....
SPECIAL , 100 ,< ’'ALLOWANCE!
TO PURCHASERS OF NEW 1952
48" JETtTOWER DISHWASHER
WITH HYDRO-ELECTRIC CONTROL
To introduce the new IflSS Youngstown Kitchens
48* Jet-Tower Dishwasher with Hydro-Electric
Control, we are^making the above offer to
purchasers who/ ill promise to show and explain
it to five friends, neighbors, or relatives.
No other method washes dishes so clean, so
fast! In less than ten minutes, dishes . . .
even pots and pans . . . are washed, flushed
and rinsed in water hotter than your hands
could stand. 58 jets of booster-heated water
brush-scrub dishes from top ta bottom , . . hv-
gienically cl Carl, sparkling bright!
Hurry! Take advantage of this offer today
Effective from March 15 to May 31, 1952.
*$75.00 aH*wan<« m tK* 27“
YOUNGSTOWN KITCHENS 4S' ELECTRIC SINK
Ktlail price $429 ,i
Special allowance 100°°
roe pay only $329”
EASY TERMS
193* Youngstown Kitchens Electric Sink, 48"
wide. Jet-Tower Dishwashing, full sink facili
ties. Food Waste Disjtoser and rinse spray
available at extra coat.
Youngstown Kitchens new 19.3? Jet-Tower
Dishwasher—compact tf?" wide.
I 7
LAST WEEK ON SPECIAL OFFER
MORRISON FURNITURE COMPANY
On the Square
Corner East Main and Musgrove Sts.
Clinton, S. C.
Phone 425
r i