Historical Newspapers of South Carolina

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The Chronicle Strives To Be A Clean News paper, Complete, Newsy and Reliable If You Don’t Read The Chronicle You Don’t Get the Newi Volume LIV Clinton, S. C, Thursday, January 1, 1953 Number 1 A Chronicle Mature BUSINESS AND FINANCIAL OUTLOOK GIVEN FOR 1953 Noted Statistician Discusses Problems Confronting the American People. Says New Year Will Start In High Gear But Pace Will Slacken. More Conservatism In Government Expected. Does Not Look for World War III During the Year. - 1 i ^ments will become more important 'than new credit advances. This By ROGER W. BABSON 1. Business will start the year 1953 in high gear. The pace w m j eould handicap over-all business un slacken, however, as the year un- f 1653 advertising expenditures are folds, with total business volume for 1953 smaller than for 1952. The pow- increased. 12. Under an Eisenhower Admin- erful supports of the Great Boom— istration I do not look for expansion construction and automobiles — will j of our money supplies as a result of | lose strength as the year advances. | increased deficit financing. Thus, i 2. Barring World War III, 1953 i another stimulating forc> wll be ab- will find business operating under sent next year. te the better less government control than any | confidence foKowing the Eisenhower year since outbreak of the Korean : landslide. War. But don't expect removal of More Conservatism In Government price controls to help profit margins.; pp Although General Eisenhower i Intense Competition Predicted ran far ahead of his ticket, there has 3. Salient economic feature is the been a considerable gain in the con- i fact that our productive capacity; servative complexion of Congress, has now been expanded to the point The margin in favor of conservatism where, barring World War III, out- is not measured by the slight ex-j put can take care of both arms and j cess of Republicans over Democrats, j civilian needs. ; It results from the fact that several j 4. The handwriting is on the wall | U' ernocra t s <~' an counted in the! . ki KJnmorl against inefficient operators. Their j conservative column. The emphasis, LOCO I Men ^00160 days are numbered. The successful j on P un f> in g Bureaus an Among ScOllt Leaders businessman next year will be the j t - ommisslons - a . Ar»ni«/-il Moot-inn one who can control his costs and! 14. All government departments | MT MnnUOl IViceiing Sheriff Wier To Be Succeeded By Lowery January 6 BUSINESS FOR COMING YEAR LIKELY BE GOOD Expanding Industry Ex pected To Overcome Threat of Slump In / 54. Civilian Demand To Be Big Factor. Two School Districts Now Operating As Separate Entities stay out front in his market. 5. I strongly urge my business friends to get out and SET J., and SELL HARD next year; but hire the best cost accountants you can for the back office. “Order takers” will find fewer jobs as 1953 moves along. War And Peace 6. My forecasts for 1953 are made on the assumption that World W'ar III will not strike during the year. However, I want to make it clear that “all bets are off” the day Sta’tin dies or retires. 7. The H-bomb gives us another lease on time. Our first lease, from Hiroshima in 1945 to the American A-bomb explosion in 1949, was frit tered away in idle bickering This time we will have another “breath er.” It may be our last chance. by several leaders in scout work|B ave been since December 1, al- from this county. dividine No 55 into Lamar S. Chapman of Green- d .'5j c !h h “ i ot .. ac A ua i 1, .. b ff n ville, was elected president for 8. 1953 will be most important in agement. Unions, however, will be the struggle for World Peace. We will need more than an H-bomb to win the peace. We shall’need a great rise of spiritual strength, which is not now evident. No New Business Boom 9. The long business boom follow ing World War II was beginning to run out of steam when the Korean War gave it a new lease on life. However, the stimulus of defense spending is already fading. Barring further international troubles, de fense activity in 1953 will be a floor under, and not a new stimulus to, business activity. 10. Capital expansion will move into a r^djustment phase sometime in 1953. This has been an outstand ing economic force behind our long period of good times. Nevertheless, I do not now anticipate any sharp break in business. If a slide starts it should be gradual, not steep. cautious so that they will not bring down on their heads the legislative wrath of a conservative Congress. 17. During the early months of 1953 amendments to the Taft-Hart- ley Act will be moderate. Great lab or turmoil would surely result in se vere restrictions on labor being read into the Act. All in all, I forecast a decline in strike totals for 1953. 18. Looking to the year 1953, I am urging my friends and their children to work more faithfully at their jobs. They should not be fooled by pres ent high demand for labor. Early 1953 should be used to "dig in’’ and work harder. Drifters will be the first to be let go. Price Forecasts 19. Barring World War III and se vere droughts, the supply of most filed with the clerk of court as re- , . _ . quired by the order of the county the coming year at e a qu 0 f education and the county will be at the service of the Repub- ^ o, r u i licans after January 20. Never be- The recent meeting of Blue Laurens, Dec. 31.—Laurens schoo fore in the history of the United; Ridge Council of Boy Scouts held districts No. 5a and 56 are already States has a conservative govern- a t Clemson College was attended | operating as separate entities and ment had such a powerful bureauc racy at its finger tips. In 1953 we shall see the use of these bureaus to AID rather than HANDICAP bus iness. Hang Onto Your Job 15. Unemployment will be no problem for the workers of the na tion during the early months of 1953. The demand for and the supply of labor promise to hold in good bal ance. Later, however, unemploy ment will increase, reaching its high est point toward the end of the year. 16. While employment runs high during the first part of the year, strikes will continue to plague man , Sheriff-elect W. A. Lowery, of j Laurens, will go into office next ( Tuesday, January 6. He will not an- ; Inounce his appointments until then, he said. Mr. Lowery will succeed Caldwell W Wier, a native of Jacks I township and former resident of this j city, who has held the office of chief 1 law enforcement officer of the coun- ! ty for the past 16 years. All records' Washington, Dec. 31.—The Com- i in his office, the retiring sheriff said, I merce Department today held out a | have been cleaned up and put in- promise that expanding industry shape for the incoming sheriff and con cope with the threat of a busi- \ his deputies. ness slump in 1954 and a ‘’serious I On December 23 the sheriff wrote test in 1955 when defense spend- ! arietter to his successor advising him ung starts downhill, of arrangements fur the change over The 12 months just ahead should and inviting him to visit the office- be 'another year of good bus.- to obtain any information pertaining ness ' supported by still-rising mo- to it or the county jail. The follow- bili^at.on outlays and a surpris ing is a copy of the letter addressed mglv high rate of plant invest - to the sheriff-elect: ment. Secretary of Commerce Saw-’ Dear Mr. Lowery. ^ ycr reported. I have been advised by the Attor- Sawyer releasd an 80.0o0-word ; ney General and the County Attor- report to industry titled Markets , ney that my term of office as Sheriff After the Defense Expansion.” the expires on January 6, 1953. The must searching official survey of ! County Supervisor has arranged for the business outlook made since • an auditor to be in the Sheriff's of- World W'ar II. Nineteen economists lice on that date to make the trans- 0 f the privately supported Com- fer ! mittee for Eocnomic Development In order that there will be no in- (CED) aided Sawyer’s analysts, terruption in law enforcement dur- The study found “areas of pote-n- ing the change-over, I have arranged t j a i weakness wtuch could, if not for three of the radios to be avail- 1 coun teracted, touch off a down- able for transfer to your cars on Jan-, war( j movement tn production and meeting at which time awards for c j e ] e g at j ori) ^ was i^ arn€C i yesterday outstanding achievements we re • m county education circles made. The affair was attended y j was state< j at office of Dis- approximately 500 persons from trict No 55 ^ officia i s o{ No 56 the districts of the council. ; were a i rea dy making out the De- Other officers elected were ViC ^ cember payroll for No. 56 from the presidents Kenneth RiCn^ruSon - c *4 records of No. 55 tJn the ‘basts df the Seneca; Dr. J. G. Jenkins, Green- : orc j er th € division of No. 55 into wood; J. A. Mullen of Anderson;, Nos 55 aru j ^ would take place the W. A. Merritt of Greenville; and ;first o{ mon th following an audit T. A. Folger of Central. H. K. • an<1 distribution of the assets and Sullivan was re-elected treasurer, | liabilities. The audit and distribu- and J. B. Orders council commis- ^i on i s reported to be completed, sioner. j. Leroy Bums, superintendent of R. E. Ferguson of this city, long education, said that the certificate of active as a scout leader, was named separation to be filed with the clerk as a national representative, with Q f CO urt has not yet been filed ac- J. M. Cathcart of Newry, W. A. cording to the order because he has Merritt and E. E. Scott of Green- no t been officially notified that the ville. audit and distribution has been fin- Districr. chairmen for the coun- ished: ties comprising the council were Division of School District No. 55, elected. Lawrence Ferguson of created under the 1951 school act, this city was named for this coun- was previously ordered at a joint ty. meeting in November of the county The “Ten Tests” Plan of Action nurd of education and the delega- for 1953 was given by the council t;on. president and was adopted by the v .ool District No. 55 will here- council. Numerous awards were ..fu r be comprised of the area de nary 3. The other radios will be available on the morning of Janu ary 6. income ‘ within the next three years.” It singled out 1955 as the __ crucial year. The jail will be ready for your The chance of a recession in 1954 jailor on January 6, We will arrange ^ .. a real possibility,” the study eed the prisoners for breakfast but 1955 is more likely to be and the noonday meal. the year which will provide “a You are invited to visit the Sher- ^ serious test "of «ve slrength'of the' iffs office at any time that you w4h eeonofnv - . „ d0 so - 1 sha11 ^ glad to give y° ,J | The study predicted that it then j will be important “niaribly to ex- pand private markets to maintain any information pertaining to this office or to the County Jail. Yours very truly, C. W. WIER, Sheriff. J. Larry Todd Passes At Home, Rites Yesterday | a high level of business activity.’ 1 There are potential markets to offset substantially the dwindling flow of defense dollars, th erepot indkaited. t An industry - by - industry ap praisal of markets iq 1955—as suming continued prosperity — J. Larry Todd, 71, a well known showed a potential sates gam of and highly regarded cjtizen of 14 per cent above 1951 for con- the Long Branch community, died, sumer durable goods like autos, re- early Sunday morning at his home frigerators and television; an 8.4 after several years of declining per cent rise for clothing, food and health. other non-enduraMes; and a 12:5 The funeral services were held per cent rise for services like hous- yesterday afternoon (Wednsday) mg. utilities, recreation and trans- from Leesville Methodist church, conducted by the Rev. M. L Poole, the Rev. O. E. Taylor, the Rev. G. F Overstreet and the Rev Har\ey Lyons. Burial followed in the is an all-time high for the coun raw materials, farm products, and manulactured goods_ promises to oe ci] since ]950 ^555 boys adequate during 1953. E\en the so-j gained, he said. made during the evening and a re- - in ed roughly as the upper part of c ^ urc ‘h cemetery with many port given by L. L. Stanley, scout 'he county with Laurens as the ma-, ^ ncnds and acquaintances of long executive, who reported a registra- j y »r population center. School Dis- stan ding attending the rites, tmn total of 231 units and 5,379 '.net No. 56 will be composed simi- Pallbearers were John B’.uford hovs and 1,887 units. He said this ho iy of schools in the lower section Poland, Marvin Poole, Grant Roff. the basic the county with Clinton as the Sipes, Jr., Larry Weeks, and 11. Big credit expansion has been ! called invisible inventories in the a powerful “shot in the arm” for hands of consumers are high as a re- ousiness during the past two years, suit of heavy buying since the out-1 Hotel Clinton I predict that in 1953 loan repay- break of the Korean War. I antici pate few shortages next year Management Change TELL IT TO THE WORLD IN 1953 The first rule of salesman ship is that if you have any thing to sell, don’t keep it a secret. Tell it to the world! That, in Clinton’s trade area, means to advertise in THE CHRONICLE. Every week this paper goes into the homes of the residents of Clinton, West Clinton, Lydia Mills, Joanna, and the rural sections of this community where your prospective cus tomers reside. The more people you the more you will sell! What your old and customers READ AND makes the most lasting pression. The most successful Clin ton firms in 1953 will be those who through effective advertising tell the buying public each week of chang ing prices, What they have to sell, the values they have to offer, the services they are prepared to give. Advertising in THE CHRONICLE brings custom ers to your store. tell, new SEE, im- ( 20. Do not forget that there is al- Effective Today ; ways a big IF in the supply situa- tion with regard to farm products. p McNair, who has operated Severe drought could cause havoc, j Hotel Clinton the past year, has One is already long overdue. Scan ; ^ his ]ease to A k. Hartley <f closely weather reports from the na- have i.ajor population center. Mrs. J. J. Guest, Of Cross Hill, Passes At Hospital Here lion’s "bread basket.” 21. The demand for goods will be stronger in the first half of the year than it will be during the last half. Disposable income will hold close.to current high levels during the first half of 1953. 22. Total pay rolls will hold well, with prospects favoring a slight drop during the late months of 1953. 23. Farm gross income will strengthen along seasonal lines dur ing the first four or five months of 1953. If we then avoid drought, I look for a lower farm income during the second half of the year. 24. The trend of wholesale com modity prices will remain in a basic long-term downswing. Look for temporary price recoveries in many groups during the early part of 1953, but do not let them fool you. 25. Unless more international troubles or drought strike hard, liv ing costs should average some low er in 1953 than in 1952. Here again, the tapering-off will occur late, not early in the year. Retail Trade 26. Overall trade in 1953 will be close to 1952 levels as far as physi cal volume is concerned, with a mod erate decline in dollar totals. The (Continued on j>age six) has several well known hostelnes in j several states. He and Mrs. Hart-1 ley have had wide experience and come here with splendid reputa tions. They have two young daugh- Bryan Holland. ! The honorary escort consisted of D. J. W. Davis, W. R. Brown, Sam Compton, Joe Poole, McLees Cun ningham, Charlton Benjamin, Ralph Blakely and' Allen Poole. __ Mr. Todd was a native of this .. t ^ ‘county where his entire life was Mr.^ Mary Lon Thompson Guest, He ^ a s0 „ th lau . c d,ed here early Monday morning Alken and Ann , c Hannah TlxW at Hays hospital following a eriti-; and *. as a dharter mfmber ^ cal ten-day il ness. ; Long Branch Pentecostal Holiness Funeral services were held from 1 churi . h whicb he sen . ed as a trus . Liberty Springs Presbyterian tee church Tuesday afternoon with the _ Rev. Wick Bromall and the Rev. . Su ^ , y ir ? g ^ Wlfe - Mrs Ma ”‘ Ware Madden officiating. Burial Bmkely Todd, five daughters, Mrs. Janie King, Misses Marion, all of managed, ^ ^ ^ ^ Thompson of ^ James McNinoh of Laurens; three , county. She had spent most of her son3 - D. B., and M R. Todd of Stat- i married life in Ninetv-Six and ^ ai ? d ’ ^ ’w T an , d T Todd of ; Cross Hill. Perth Amb °y. N J . and several She is survived by her husband, 8 ran dchildren. ^ Cornelia, Ga. The property be longs to the Mississippi Youngs of this city. Mr. Hartley, the new lessee, has arrived in the city and will ta ^ e | followecl in the adjoining ceme- mis - ^ in g, masses over the management today. He in tne aa J oimn S ceme Margaret and Mary Todd has had 20 years experience m the j ^ daughter Staten IsLand - N - ' Ya and hotel business and ^ "^n^pd Mrs - uuest was the uaugnier ot T w ^ _ L . port. These were among findings: 1 Growth trends in industry suggest an 8 or 9 per cent climb m the country's total output by 1955 to a record value of 365 billion dollars, spendable income could thus rise 7 per cent to 240 billion dollars. 2. Military outlays will reach their peak at a 55 or 60 billion dollar annual rate in 1953-54, then decline by about five billions in 1955. Beyond that, defense "main tenance” outlays of 40 to 50 bil lions annually are likely indefi nitely. 3. The full military cutback will represent only 4 or 5 per cent of the countryV expanded production as against 35 per cent in the World War 11 demobilization period. The survey concludes that “prosperity manly on the strength of civilian or depression will depend pri- demand,” rather than on arma ment outlays. 4. Tax cuts could bolster Joseph J. Guest, five stepchildren, Mr. and Mrs. McNair and three two half-brothers, one half-sister, : Good Christmas an aunt and uncle, and 16 grand children. attractive children, Charlotte, Charles and Schley, will leave to day for a few days visit to relatives in Augusta, Ga., after which they D6l€gQil0n To will'locate in Florida, their former U 0 U k/tppt MnnHflV home, where they will engage in n0,a MCer l ^ onqo y the hotel business. The McNairs! have made many friends during | Business Reported Clinton merchants closed down tight for Christmas Day and Fri- ! day, with a quiet holiday season reported in the city. Stores will The Laurens County delegation I close today for New Year’s Day. in the General Assembly will hold One of the largest crowds seen here in many years thronged the streets Monday, Tuesday and Wed nesday doing their last minute their residence here who regret (.. , ^ . , ., ♦ . „ j if its annual public meeting in the their leaving the city and whose, . , , ,, f, „ r * , . • u n _ court house Monday, January 5, it best wishes will follow them as . ’ , , , . , was announced the past week by ey 6° c e , er ^ Justin A. Bridges, secretary of the! shopping. The Christmas Eve " delegation. I crowd was enormous. The peak of TO BEGIN YEAR’S WORK 1 The meeting is scheduled to op- Christmas business came on the The first meeting of the Kiwanis; n at 10 a. m. Mr. Bridges stated last three days with heavy buying club for the new year will be held Thursday, Jan. 8, at 7 o’clock at Hotel Mary Musgrove, at which time the new officers will assume office. yesterday that anyone interested in state or county legislaion is invited to atend the meeting and express his views. and merchants reporting a satisfac tory volume of business as good as last year, and reported by many as surpassing the ’51 record. pur chasing power during the critical period. But if made before 1955 they would have less buoyancy ef fect and hinder achievement of a balanced federal budget by that year Under prosperity conditions present tax ates could produce a "moderate cash surplus” by 1955, it was reckoned. Citizens Federal Pays $71,803.75 In 1952 Dividends The Citizens Federal Savings and Lona association of this city distrib uted its regular semi-annual divi dend yesterday to its investors as of December 3i. The dividend is on the basis of 3 per cent per annum. The December dividend amount ing to $37,328.27 added .to the June 30th dividend of $34,475.48. brings the total dividend paid during 1952 to $71,803.75, an increase of ap proximately $13,000 over last year.