Historical Newspapers of South Carolina

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■ 1 v Pare Four THE CLINTON CHRONICLE Thursday, January 22, 1933 oltir (Elintnn (Ehrnntrlr Established 1900 WFLSON W. HARRIS, Editor and Publisher HARRY C. LAYTON, Assistant Published Every Thursday By THE CHRONICLE PUBLISHING COMPANY Subscription Rate (Payable In Advance): One Year $2.50 Six Months $1.50 Entered as Second Class Mail Matter at the Post Office at Clinton, S. C., under Act of Congress March 3, 1879. The Chronicle seeks the cooperation of its subscribers and readers— the publisher will at all times appreciate wise suggestions and kindly advice. The Chronicle will publish letters of general interest when they are not of a defamatory nature. Anonymous communications not be noticed. This paper is not responsible for the views or opini of its correspondents. v MEMBER: SOUTH CAROLINA PRESS ASSOCIATION NATIONAL EDITORIAL ASSOCIATION National Advertising Representative AMERICAN PRESS ASSOCIATION New York Chicago Detroit Philadelphia ’ improved property in that section I has sold during the past two years at high prices since it is located oq a principal street and lies in the largest area of choice undeveloped business property in the city. If ! sold, it should bring a splendid price ■ on the front foot basis as has been ,true in recent sales ipade by other owners. We have an idea what the property is worth on an inflated price market. i We doubt the wisdom of the city selling the property, in fact, we think it would be a serious mistake, even if the motive of the adminis-j tration is to apply the proceeds to! its inadequate linking fund as shown the recent city audit. Council would have power to use the pro-1 eeds of the sale for another fund, if! it so desired. It is , in our opinion, \ the most ideal location in the city for,a municipal building in looking to the future, just as the lot secured j for the Hotel Mary Musgrove by a community corporation was the choice No. 1 location in the entire community. This property, now used to advantage for a free parking lot, and properly so, has been owned by the city a long number of years, and while the recent audit reveals I vif Khr Trumnn , ible reason for a prolonged session, ^ ^ a before • ijv, I Let the legislature get down to t ^ ie clt y will ever be able financially President Truman closed his, business cut out lltlcSi com p lete ° consider erecting a building on, t.im of off'ce Monday to be sue- the and home That is what the site, which would probably cost' .ceded by President Eisenhower. rhe have a right t o expect considerably more than $100,000, lie left Tuesday following the in * f rom t heir lawmakers .still if the time does come when such , i . ^ " a development is possible the prop erty will be badly needed. To sell it No Tax Favoritism now, even at an inflated price, would I. to receive any prize. Also, one di-; in the city schools $o that students rector is to be elected by members, j could view the inauguration pro gram on Tuesday. School officials have expressed their appreciation to the following firms for this courtesy: T. E. Jones and Sons, C. W. Cooper Motor Co., local MoijTison Furniture Co., Lydia Mills Arms, television sets were installed Store, and Burriss-Harrison Furni- School Children See Inauguration On TV Through the courtesy of ture Co. The Cross Hill and Mountville schools were rendered this service by Laurens business firm*. IF YOU DON’T READ THE CHRONICLE YOU DON’T GET THE NEWS MODERN „ _ Baking Equipment Helps Make ClauSSen’S AMERICA'S FINEST BREAD! CLINTON. S. C., THURSDAY, JANUARY 22, 1953 augural ceremonies for his home :n Independence Mo., where he announced he will set up a private office for his future undertakings, whatever they may be. President Truman recently made 010311 t^ a t the city would be with- a proposal that his Republican sue- an ade{ l ua tc a °d desirable lot Mr. Truman was__ reported in cessor in the White House be f°r such a building. good mood though he stayed in the granted special income tax exemp- . Council is acting properly in seek- imelight, making news until the tions. The suggestion did not come ' ng competitive bids. As a taxpayer, iast with his poliical instincts Still from Mr. Eisenhower. jhqwever, we would say do not dis- in evidence. He is a natural born -pu House Wavs and Means com-i P ° Se of the Property. The day will , ine nouse wa>s ana means com come when it will ^ badly needed -tute politician, having received training Iron, M.souri tnachtne Se^ ‘"T " “ ,0 ° 13,6 profesionals whose record ,s well SLgh to have a nllv prti5en" ^ b " n d ° 0r al,er ^ known to the American peop.e. Republican congress would not, __ i ^ The administration of President indorse it. E;sc:>hov.e'r will differ in many re- The Truman plan was to enact Farmers Credit spects from that of I resident Tru- legislation permitting President-1 A in finn Tn KAaat man—or from that of Frahkhn H- , Eisenhower to deduct up to Association I 0 Meet Roosevelt. The exit of Mr. Tru- $50000 a year in his living ex- Here Saturday man is good for the country. From p enS e S- The President also suggest- +— 1 — now on out he may be expected to t , d a s i m ji ar exemption on the $10, The Clinton Production Credit, as- de fiom the prominence he has qoo a year expense allowed the sociation will hold its 19th annual !d for almost eight years. new vice-president and House meeting of members Saturday in the As would be expected. Mr. Tru- Speaker Martin. He estimated the Florida Street school building here an in. his farewell address pledg- proposed exemptions would save beginning at 10:30 a.m. It will be t d his help and cooperation to the Eisenhower $39,000 a year in taxes open to the public and all farmers new president, and this he needs and each of the other two officials ( arel especially invited to attend. Rom all American citizens as he about $4,000 or $5,000. j- G. H. Aull, of Clcmson college, e nters upon his new post of respon- President Truman has been liv- 1 w ih be guest speaker-for the occa- sibility. What people do rather ing on the fat of the i and H e has( sion a °d give a talk on the future than what, they say is the yard- been getting an annual salary ^fieconomic outlook of agriculture, stick to judge by. Only a few hours siotyOOO, plus tax-free expense al-j The association, a cooperative before his final fireside chat Mr. ; cannon rr^inp „ totalj- credit institution, is owned entirely Truman deliberately threw several^ 0 f $150,000.- Congress raised Tru-T b Y RsTTOOe farmer members Tn X3iT- . i-ucks. mlo--Mr>..F.i senhower. .i,nclud ; uL fnaTts . salary- from $75,00^ ter $100,-* reus - and Newberry- counties - “and ing the Tideland oil issue of thelooo a year, and at'the same time makes loans * or a11 sh °rt term credit recent presidential campaign. This in th ’ e $50,000 expense, allow- needs of tarmers. same Mr. Truman publicly branded ance t0 be pa j d i^e salary free of Rex Lanlord, secretary-treasurer, Mr.h Eisenhower’s trip to Korea, in any accounting to anybody and ex- states that the association made loans the hope of gaining knowledge toj en ;p t from the f ede ral income tax. in 1952 totaling $646,000, and now help bring that war to a speedy; This was in addition to a second has a reserv e of $70,000 to protect and honorable ending—as “pure tax .f ree expense acount of $40,000! members investment. A full report demagoguery.” The new president t0 pa y f or travel and entertain- ! on 1116 association’s operations will was too wise to expect “help” from me nt. Mr. Truman soon happily 1 be r , given at the mee ting. the Ex-Pre^idcnt. discovered that with his increased; . ue P 1- ^ 65 of $5.00 each will be '. [salary, his special tax exemptions! dpawn ’ but memb crs must toe present Let's Have Short Term and a11 the other perquisites and -p^ prescriptions E the state treasury, there is no reas-1 m8 u ^ 0l)S on for a prolonged and expensive | ^ tate ?; beat operating a hab- session. Gov. Byrnes’ recommenda-1 ^ rdasher y sh °P back J? Missouri tion calling for allocation of almost 12 million dollars for permanent improvements now at state colleges and institutions has been presented and should receive careful consid- icration. When there is a surplus there are multiplied requests to get in for a share o^f the “bag-grab bing.” We are told there is an 18- million dollar surplus and the poli ticians are eager to slice the melon. The surplus has resulted from sales tax receipts which originally were estimated at $30 million a year. We .said at the time that the legislature had purposely underestimated the sales tax revenue. When every' man, woman and child in the state is forced to pay a sales tax on ev erything they • buy we may expect an enormous and increasing in come annually from this source. The record shows that the estimate was put far too low. The sales tax money we were told was intended for building better school houses, raising teachers pay, eliminating -ocal. property taxes for schools. The latter has not been done as taxpayers well know. To the con trary, property taxes have been in creased as land owners of the coun ty well know. In spite of the piles pf millions, local taxes for schools have not been cut one particle. The people back home are unani mously in favor of tax relief, as they are from the source of spend ing in Washington. They also fa- ver a short session as fixed by the State constitution. That document which has been kicked around by the legislature, says the solons should do their work in forty days and adjourn. It was done last year, it can be done this and each succeeding year. The reason for edelay, of course, is politics, evading •certain issues and problems needed to be settled, postponing elections until certain groups of both bodies ^are ready to, vote. It is an brexcus- *able, expensive practice. / The big factor,’ usually causing prolonged sessions is money, how to balance the budget, where to tap taxpayers .to secure additional rev enues This should be no problem this year—the state has the money, an enormous surplus from the sales lax. r The facts show there is no plaus- He is repored leaving the office a rich man. , There should be no special tax privileges to the president, senators and congressmen, or any other high officials. Congress has acted wise ly now in turning down the Tru man proposal to benefit the new Republican president, or his future successors. There should be no fa voritism in the tax income offices. Public officials should pay income taxes the same as everybody else back home, though they have al most reached the confiscation point. —' We doubt that General Risen- hower looks with favor on the Truman proposal which has been properly repudiated. Don't Sell the Property In recent months there have been unconfirmed street rumors that sev eral parties, locally or elsewhere, were interested in purchasing the unimproved property on North Broad street owned by the city, and now used as a free public parking lot. No mention at the time was made of the proposal in the council minutes, or was it officially stated that the administration was contem plating disposing of the property. The matter came up, the record now shows, at the Dei^mber coun cil meeting. A motion was made and adopted that sealed bids on the prop erty be accepted at the city clerk’s office up to 6 p.m. on January 31, 1953, to be opened by council at the same time reserving the right to accept or reject all bids. This clearly shows that council is considering disposing of the proper ty if satisfactory bids are received. This, we take it, means that council is to make ( the sole decision as to the value of the property. Council is to be commended for handling the proposal in the open, which is the only proper way. If the 1 property is to be sold there should be no secret buyer but all who may be interested, should be given an opportunity to present sealed bids. Only in this way can it truthfully be said that no one had an inside advantage, or that the property brought the highest price it was possible to secure. It is not for this newspaper to set a valuation on the property under consideration. Suffice to say that un- YOUR HEALTH IS IN GOOD HANDS . . . when we fill your prescriptions There are good reasons why your health is in good hands when you bring your prescriptions to us. We know the importance of accuracy— so that you will get exactly what your physician prescribed. We know the importance of keep ing our prescription department up- to-date. In fact, ,just about half the prescriptions we fill nowadays call for drugs that di dnot even exist ten years ago. So — whether your physician has prescribed one of the new wonder drugs or some of the many medi cinal agents we have carried for years, you can depend on us for prompt, reliable service. Form the good health habit of calling on us first. YOUNG'S PHARMACY We Deliver—^Call 19 SO YOU’RE SAFE AT HOME? There’s no place—not even the highway—where so many accidents happen aa at home. But you can be protected against ac cident expense, at home or elsewhere, if you have Accident Insurance. S. W. Sumerel AETNA-IZER ' Tele. 80 Jacobs Bldg. *tm tin | mmaftet ci In The Happy Sunshine Yellow Wrapper STAYS FRESHER LONGER! Annual Statement Federal Savings & Loan Association December 31, 1952 ASSETS First Mortgage Loans -t , $3^11,803.45 Loans on Savings Accounts ' 15,792.10 Other Loans, Title 1, FttA.. 103,102.38 Properties Sold on Contract,. 8,679.32 Real Estate Owned 10,716.05 Stock in Federal Home Loan' Bank 55,000.00 U. S. Government Bonds 50,000.00 Cash on Hand and in Banks 161,157.16 Improvements to Leased Property, Furniture, Fix tures and Equipment, less Depreciation 32,128.94 Other Assets 212.05 Total $3,648,591.45 LIABILITIES Savings Accounts $3,153,760.76 Advances, Federal Home Loan Bank 310,000.00 Loans in Process 45,476.07 Other Liabilities 11,408.97 Specific Reserves 14,289.92 General Reserves 113,661.73 Total $3,648,591.45 'r IN 1952, THE ASSOCIATION PAID TWO DIVIDENDS AMOUNTING TO $80 428 80 AT THE RATE OF 39: PER ANNUM TO ALL HOLDERS OF SAVINGS AND IN- VESTMENT ACCOUNTS. GROWTH IN RESOURCES June 30, 1948 $197,498.45 Dec. 31,1948 Dec. 31,1949 Dec. 31,1950 Dec. 31,1951 Dec. 31,1952 $504,984.49 $1,167,948.44 $1,907,055.67 $2,619,818.41 $3,648,591.45 Laurens Federal Savings & Loan Association Savings Insured up to $10,000 by the Federal Savings and Loan Insurance Corporation.