The Clinton chronicle. (Clinton, S.C.) 1901-current, July 30, 1953, Image 19
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Thursday, July 30, 1953
THE CLINTON CHRONICLE
Pasre
u
Three
IN MEMORIAM
Whereas, Mrs. Mollie O. Ander
son was a charter member of Mus-
grove Home Demonstration club,
and a very active member until the
time of her death. We, the mem
bers of Musgrove club wish to ex
press our thanks to the Heavenly
Father for'having let her live
among us.
She was a devoted mother and
wife, and was a member of Lang
ston Baptist church.
During her lifetime s)ie held sev-i
eral offices in the club and was al-j
ways ready and willing to^ help in j
•M
U. S. Business
Uneasy As
Truce Signed
Korean War Cost
U. S. 22,000 Lives,
Billions of Dollars
i t<w
any worthwhile project for Abe up
building of her community:
We hold dear the' remembrancea]
of the noble life she lived among
us.
—MUSGROVE CLUB
MEMBERS,
Blanche Cox, Secretary.
Gray
Funeral Home
Clinton, S. C.
FI SERAL DIRECTORS
. .and .
EML5ALMERS
Phonrs * 1 ar 1 3T9-T
auhi r.vvn' skpvice
I RtSiU.L GHAT u id
V. PARKS AUAIP. Grn. !*!srs.
%>,
w
Here’s how
new telephone* added m
the past month*, over
241,700 in service today,
about two and a half
a* many as ju*t eight year*
agol
and
here’s how
telephones are being wed:
Over 1,629,000 call* a day.
That’s a lot of talk over a ,
lot of phones. We re adding
more as fast as we can to
keep telephone • ervl
growing with South Caro-
lina.
J.M.McAustk*
South Carolina Manager
SOUTHERN BELL TELEPHONE
AND TELEGRAPH COMPANY
Working Always to Serve
South Carolinians Better
New York . July 27.—The uneasy
truce just signed in Korea is
matched by uneasy business senti
ment in the United States.
True, almost all phases of busi- j
ness and industry are booming.
And businessmen are becoming
more confident that good times will!
continue if nothing up§ets the ap-;
plecart
Both government and industry
leaders are rushing to assure the
public that this cease fire won’t
chSnge defense or tax plans on the
one hand, or business production
and expansion plans on thg other.
Uneasiness, however, on this oth
erwise happy day comes from two
sources:
1. Widely-helct belief that the
boom must be near or at its peak.
2. Fear that a psychological let
down after a cease fire (coupled
with jubilation over Russia’s inter
nal troubles) will slow down gov
ernment spending as a support of
prosperity and also make consum
ers and businessmen alike more
cautious in their buying.
This could start the recession so
many business men anticipate.
And it could make the recession
sharper and deeper than common
ly expected.
Many business leaders, however,
are publicly pooh-pooing this.
General Motors president, H. H.
Curtice, points out that a cease
fire in Korea will have very little
effect on the rate of military spend
ing for the rest of this year. He
notes that 20 per cent of indus
trial output now goes for defense
and doubts if any cutback would
effect more than 4 per cent of over
all industrial output.
Other business estimates on the
cutback range from 2 to 5 per cent
of total gross national product—
the sum of all the goods and ser
vices produced.
The National Association of Man
ufacturers’ president, Charles R-
Sligh, emphasizes that the Ameri
can economy is a peacetime econ
omy, not one based on war. He
thinks the truce will lead to gains
in merchandising and design and
to reduction of production costs.
But business has some worries.
Commodity prices in general
have tended to be weak for more
Washington.—What did the Ko
rean War cost the United States?
More than 22,000 dead on the
battlefield, part of a 140,000 casual
ty Jotal.
More than 15 billion dollars to
help pay for over 1,125,000 tons of
artiUfry ammunition; over 1,800,-
000,000 bullets and grenades; 800
tanks and 40,000 trucks used up'in
battle; more than two million shells
for- naval guns; hundreds of thous
ands of tons of bombs.
It triggered a general rearma
ment program for which the gov
ernment has spent to date over 101
billion dollars.
The shooting and the casualty
lists will stop.
But the boys won’t start home
tomorrow or next week. Secretary
of Defense Wilson says, “It will
be a long time before we can with
safety withdraw our troops from
Korea.” A long time can mean six
months dr more, depending on how
fast prisoners are exchanged—and
how soon peace, instead of mere
armistice, can be assured.
Everyone— President Eisenhow
er, Secretary of State Dulles, Wil
son—hurried to caution the coun
try that a Korean truce should not
be a signal for demobilization or
letdown of the defenses against a
bigger war by Russia.
The government is obviously
worried lest industry think that the
truce means quick and wholesale
cancellations of munitions orders.
Hardly had the truce signing an
nouncement been made when Wil
son issued a statement saying cur-
rentp reductions plans would be
continued “until such time as an
rent production plans would be
worked out that will take into ac
count the changed Korean require
ments.”
On the day the war started—
June 25, 1950—the United States
had under arms 1,460,000 men in
the Army, Navy, Marines and Air
Force. Less than half a dozen
Army divisions were manned and
equipped to a point where they
were ready for battle.
Today the military manpower
counts up to about 3 1-2 million, al
though it is being trimmed some
under the economy program. The
Army has 20 divisions.
than a year now.
Total business inventories are
now around 78 billion dollars, a
record high. .
The Korean War set off a sharp
climb in consumer credit. For a
time credit controls put a partial
brake on it. When controls were
removed, the debt total mounted
again and by May was at a record
26 1-2 billion dollars. In June, 1950,
it was 17 1-2 billion dollars.
Again national income growth
supports the increased consumer
credit — but if factory layoffs
should bring a drop in income,
businessmen might see a quick-
der the load of consumer debt. The
ening up of purchasing power un
monthly payments might take all
a man had to spend.
The American industrial machine
is now geared to an annual ex
pansion rate of 15 billion dollars a
year in the total output of goods
and services. A growing popula
tion will take care of some of that
A continuing large defense pro
gram will take care of some. An
increased standard of living, how
ever, is necessary if all of it is to
be taken.
That’s why the psychological re
action to the truce will be watched
closely. If consumers decide to
postpone buying to see what hap
pens to prices and jobs, if manu
facturers turn cautious and cut
back production and shorten the
work week or lay off workers, in-
dusftry might find itself with too
much plant on its hands.
That’s why business is uneasy
now—it’s the uncertainty over
what may follow the event every
one is welcoming today: the si
lencing of gpns in Korea.
Say—
SAW IT IN THE CHRONICLE’
Thank Yon
-IF YOU DON’T BEAD—
THE CHRONICLE
YOU DON’T GET THE NEWS
T“
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Hershey Warns
Youth To Plan
Fo Draft Still
San Francisco, July 27.—Major
General Lewis B. Hershey, national
director of Selective Service, said
today it will be most unfortunate
if the young men of the United
States believe their plans, with re
spect to the draft, are going to be
changed as a result of the Korean
truce.
Any youth facing his two years
of military service “should not get
excited” about escaping such scr-
..vice because of the truce, Hershey
told a news conference. He ad
vised the young people to go ahead
with their plans to get an educa
tion before being called into the
armed forces.
He predicted that in 1955-56 “we
are going to runt out of men—we
are going to have to take fathers,
4fs and dependents or increase the
length of time we’re going to take
a man for service.”
WMMlMtfgilMJiJujjgL CAMiy**
\ ■
Men "o fur its "go" . . . women
love its htokn! I he car with dmiltlf-
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jiiiI give t Milsinoliile it r«-j| •’oing*
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woman’s angle—from every
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it in the dashing, distinetivo
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spcctmui of color comhinations.
llanMing eaae? This big. power
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with the brawny might of Power
Steering* for turning and park
ing, the swift action of Power
Brakes* for quicker, safer stops.
And fterjormunre? Well, Olds-
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the hushed power of the " Hocket”
Engine! Brilliant Super "Hd" or
< la-sir Ninety-Eight . . . tln-Cre
both designed for lutth of you. .So
come in soon for a demon
stration drive! Make a double-
date with a ’’Rocket 8”!
*Option*4 o4 •.tiro cu*U
SURVEYING
J. R. CRAWFORD
CLINTON, S. C.
Phone 3493 Joanna
MAKE A
WITH A
"rocket 8"
r«r (//iMfrolW:
$up+r **8H" 4-Door S#4an.
i Conorol \lo4ot $ V oluo.
OLDSMOBI
SEE YOUR NEAREST OLDSMOBILE DEALER
Timmerman Motor Company
Phone 119, or visit 109 Gary Street
■'* V
YOUR OLDSMOBILE DEALER ALSO FEATURES TOP VALUES IN SAFETY-TESTED USED CARS