Historical Newspapers of South Carolina

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I 1 The Chronicle Strives To Be A Clean News paper, Complete, Newsy and Reliable Clinton Chronirh If You Doh’t Read The Chronicle You Don’t Get the News Volume LIV Clinton, S. C, Thursday, February 12, 1953 Number 7 A Regular Chronicle Feature “wr 1 BABSON BELIEVES BUSINESS CYCLE LAW, GIVES REASONS By ROGER BABSON SSabson Park, Fla., Feb. 9.—I don’t believe in A Universal Business Cy cle. I DO believe in many Business Cycles. Under Newton’s Law of Ac tion and Reaction, Business Cycles are inevitaule with human nature as it is. Many Business Cycles When someone tells you he does not believe in the Business Cycle it is because he pin ned his faith on one Business Cycle and tried tb make the same cycle apply to the stock market, interest rates, real estate, labor strikes, building, retailing, manufacturing, etc. Not only do all the above have Begcr W. B«bf«a their own Cycles, but different industries may have different Cycles. For instance: Wheat has a 9.8-year Cycle; Iron and Steel a 6-year Cycle; Automobiles a 13- year Cycle, etc. The Main Cycles Although there may be a score of different Cycles, all working at the same time, 90 per cent of the read ers of this column are tied up with five main Cycles. These are: (1) THE 35-YEAR CYCLE, which applies to agriculture, weather, insect pests, etc. Every other 35 years the Cycle is very severe. Hence, some talk also about a 70-year Cycle; and others abbut a 50-year Cycle. The Cycle which affects us all is (2) the approximate 9-10 YEAR CYCLE. Every other ten years this Cycle is especially pronounced. Hence, some talk about (3) THE 20-YEAR CYCLE, this, particularly discouraged and sees no hope for stocks at any .price. On the other hand, those who do so operate on this Cycle Theory perform a great pubhc service in helping to level out business and employment conditions. Some conservartive bankers do not believe in any Cycle Theory because it misses once in a while when dif ferent cycles conflict. Furthermore, although they admit it mi#it have worked under a Gold Standard, it cannot be depended upon — they claim—with a Planned Economy and Paper Money. My answer to them is that they can operate on an Ac tuarial Basis the same as insurance companies do. Stock losses can be averaged the same as can fires, ac cidents and deaths. Moybonk Asks H-Plont Area Housing Probe applies to real estate, new building, wholesale prices and general bus iness—although, as above stated, different lines of business vary as to when their special 20-year CYCLE starts and ends. Edward R. Dewey, who is .perhaps the best living auth ority on Cycles, shows that a 9-10 YEAR CYCLE applies to forestry, fish life, ozone supply, atmospheric electricity and psychological changes in our desires and ambitions. Stock Market Cycles Two other common Cycles are the 422-MONTH CYCLE and the related 42 MONTH CYCLE and the related cle usecUn the Addenda of my Au- tiography recently published by Harper & Brothers of New York City. Here I show how $2,000 in vested in 1901 in the Dow-Jones stocks, approximately according to this Cycle, could (as subsqeuently adjusted to include latest data) amout to over $1,000,000 today with out borrowing a penny. This is and appears in records of barometric known as the Chapin Hoskine Cycle pressure, sun spots, tree rings, cer tain commodity prices and the sales of some 25 leading U. S. corpora tions. Of course, all brokers ridicule this Cycle Theory. If too many of their customers bought stocks only once in six years, they would starve to dearth. Even the Mutual Investment Funds, which last year did a busi ness of $4,000,000, cannot afford to go without dividends for three years while waiting for the market to drop. Besides, their sponsors could not support a sales force under such con- ditions. Self-Control and Patience Operating under any Cycle Theory requires great self-control and pa tience. It requires SELLING when the Government, brokers and mag azines are bullish; likewise, it re quires BUYING when everyone is # Thrift is a fine virtue. But sometimes we "save” pennies—and lose dollars. In guard* ing health, for exam ple, a timely call on your Doctor mav fore stall a costly illness. And—bfinp your Doc tor’s prescriptions here. You will find it costs no more for the best! Howard's Pharmacy Phone 101 RQIABlfO IF YOU DON’T READ THE CHRONICLE YOU DON’T GET THE NEWS Washington, Feb. 9. — Senator Bunet R. Maybank has asked At torney General Herbert Brownell, Jr., to investigate charges of ir regularity in land sales and hous ing around the H-bomb plant at Aiken, S. C. Maybank also asked Senator Homer R. Capehart (R-Ind) ,as chairman of the senate banking committee, to request comments from the Atomic Energy Commis sion and the Housing and Home Finance Agency. Maybank acted after reading Washington newspa per articles which implied that several South Carolina politicians received government permits to build .housing for the atomic plant employees. Recalling that the FBI investi gated similar reports in 1951, the senator wrote Brownell: “Should you find any evidence of irregularities in the handling of this program, it would be my wish that you reopen this investigation and determine once and for all the authenticity of the innuendos im-, plied in such stories as this one. If you find any evidence of wrong doing I hope you will press charges against the guilty parties.” . j Birds Appreciate Clean House, Too A quick sudsing of the bird bath and bird house will be greatly ap preciated by your back-from-the- South feathered friends. Even if stored dean for the winter, they still accumulate dust. Scrub each piece with a stiff brush dipped in soapsuds. If you’ve stored your bird bath upside down outdoors, then it’s best to soak the bowl section in lukewarm suds be fore the scrubbing. Hang the bird house high and close to one of your favorite win dows. Then fill the bird bath with fresh cool water. Birds love to take as many baths as you do. Keep S. C. Green Support Urged Columbia, Feb. 8.—State Forest er C. H. Flory, today said all-out support of the forthcoming “Keep South Carolina Green” campai&i will “contribute to better living for everyone.” The educational program to knock out forest fires will be launched at a mass meeting here February 26. Successful control, Flory said, would mean “woodland production in South Carolina could be moc- than doubled.” He said the campaign will follow the State Forestry Commi»k»'< new approach to the woods fire problem— emphasizing damage to future woodland productivity as a result of the death of anall trees ‘Keep South Carolina green, aa a citizen’s movement, provide • fresh and valuable means of tflU ing the new story,” he said. TAX RETURNS PREPARED Both state and federal returns accurately prepared NEW ADDRESS— 501 ELIZABETH ST. Telephone 843 JOE P. TERRY «'*••