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The Chronicle SUItm To B< A Chu Nm- paper. Complete, Noway and Reliable 3bf (Clinton (Eljrmtirlf If Ton Don’t The Chronide Yon Don't Get the News Volume LV Clinton, S. C, Thursday, December 30/1954 Number 52 Feature Babson Gives Forecast For New Year 1955 Noted Statistician Discusses Problems Confronting the American People With 50 Predictions; Looks For Good Business, Stabalized Markets, No Inflationary Boom, Downward Prices In Real Estate And No War Likelihood By ROGER W. BABSON 1. GENERAL BUSINESS. De spite walls from some quartan 1954 saw a drop in the average Physical Volume of Business of only 5% from the record year 1953. 1955 could see a rise of about the same amount. Certain ly, the direction of business un til mid-1955 will be upward. 1 BUSINESSMEN WILL WAKE UP. During 1954 many businessmen rediscovered the meaning of the word “compe tition.” Sales will continue to be made only with real effort in most lines. 3. CONSUMPT1-0N OUT LOOK. Consumption in a num ber of lines has been proceeding at a more rapid rate than has production. I forecast a better record in early 1955 for both steel and automobiles. 4. TEXTILE INDUSTRY. Tex tile industry operated at ex tremely low levels throughout most of 1954. Coa^and railroad equipment also exerted a strong downpull. I forecast that the tex tile and coal industries will be m a recovery phase after their long stay ir the doldrums. 5. PRIVATE CONSTRUC TION. I forecast that home building and general construc tion will be somewhat lower in 1955 than in 1954, but this im portant industry should still ope rate at high levels next year. 6. PUBLIC CONSTRUCTION. I forecast that public construc tion will increase during 1955. This should mean a rise in the output of cement 7. AGRICULTURAL EQUIP MENT. This industry has been suffering from a decline in de mand, but should now improve. Government - sponsored planting curtailment and crop loans have reduced free supplies, and may make for higher agricultural prices later in 1955. 8. ARMAMENT INDUSTRY. The armament industry will still change from recent levels. 17. FOOD PRICES. Food prices may firm later in 1955. The strong move into Government crop loans this year has made free supplies of most agricultural items less burdensome. I fore cast that new advertising pro grams by canners and other great food distributors will help farm ers, stock raisers, and fruit grow ers. 18. CONSUMER INCOME Consumer income will hold at satisfactory levels. Most goods should move readily into con suming channels. 19. LIVING COSTS. I forecast that during 1955 living costs will show little over-all change from present levels. There may be some finning during the first half, but the late months may again witness a minor softening. 20. RENTS, ETC. I forecas rental expenses may edge some what higher clothing costs should be steady to moderately higher. There is small chance that food expenses can be greatly reduced. 21. MONEY SUPPLIES. I forecast that money supplies will be ample for all legitimate busi ness needs during 1955. Witn little likelihood of business get ting out of hand on the upside, credit easing is more likely than credit curtailment in 1955. 22. INFLATION. Fears, or perhaps hopes, of an inflationary boom should be buried. Barring outbreak of war, our productive capacity is sufficiently large to meet all demands for goods. I forecast that no runaway infla tion is probable, even if the mon ey managers increase the supply of money or ease credit. 23. INTREST RATES. Until the Treasury finds a way to bal ance the budget, hold business at high levels and unemployment at a minimum, lyforecast little like lihood of higher interest rates. 24. BOND PRICES. With the possible exception of tax-free bonds, I see no rteason for in- *° * a , „„d *° od . eo*^ u Mrs. J. P. Prather Farm Place Shown In Series Last Week The farm-home place shown last week was that at Mrs. J. Platte Prather near the city locat ed on the old Laurens road near the railroad crossing of the C. N. & L in. the direction of Laurens. No guesses as to its identity were handed in at the office, which was | unusual The mounted photo was j presented the owner upon identi- , tying the property. Another in the senes or undes ignated farms appear today. As previously stated, the photos were taken from the air by specialty photographers, this newspaper not knowing where the “shots” were made until we receive the photos which will appear regularly for fifty-two weeks. The feature is proving quite popular with our readers and is published in recog nition of fanning as the big bus iness that it is today—big in in vestment, land, machinery, live stock and buildings. Masonic Groups Elect Officers For Coming Year The following officers have been elected and installed for the local Masonic organizations for the year 1955: Campbell Lodge No. •»4, A. F. Dr. William Carter Locates In Joanna As Resident Dentist Announcement is'made by Jo anna Cotton Mills that the grow- Ghastly Toll In Accidents Mars Holiday (By The Associated Press) America’s motorists set a ghost ing Joanna community is to have; ly new two-day record during the a resident dentist who is expected Christmas holiday weekend when to arrive there with his family within the next few days. The newcomer is Dr. William J. Carter who has been practicing dentistry in Charleston for the past 20 years. His office will be located, it is announced, in the same building with Dr. James Macdonald’s office just across the street from the mill office. Joanna has been without the services of a resident dentist since the death of Dr. M. J. McFadden in 1948. Dr. Carter was born in Charles ton. A graduate of high school there he attended the College of Charleston and was graduated from the Georgetown University School of Dentistry, Washington, D. C. in 1934. He practiced den tistry in Charleston for eight years and served three years in the Un ited States Navy as a dental offi cer, and was in both the American and European theatres. In 1946 he resumed his practice in Charles ton. He is a member of several dental associations and for a num ber of years has taken an active part in the Charleston theatrical circles, having performed with the Dock Street Theatre and more recently with the Lenten Theatre Guild in its annual Passion Plays. Dr. Carter is married to the M.—T. Leo Heatherly, W. Mas- ter; Wm. J Davis S. Warden; J. former Mias Mareia Cronin of be one at the main floors beneath j creasec i bond prices in 1955. I the economy. The electrical and [ f orecas t an increase in the is- chemical industries will move at suance 0 f tax-free revenue bonds, a rate close to that of 1954. , 25. STOCK PRICES After 9. OTHER INDUSTRIES. I stw s0 sharp a rise, the market could 1 * ! have a reaction; but I am fore somewhat optimistic on clothing, aircraft manufacturing, airline transportation, office equipment, , electricity output, petroleum pro duction, natural gas, and shoes. I am also fairly bullish on rub ber, paper, electrical equipment, certain types of building and non-ferrous metals. 10. WEATHER CONDITIONS. ' It is foolish for me to attempt to forecast rains, droughts, frosts, etc., for any special section. How ever, taking the nation a whole, I look for better weather in 1955. 11. RETAIL SALES. I forecast that the outlook for retail sales is encouraging, at least through the first half of 1955. 12. PROFITS. Stiffening com petition is chipping away at the profit margin. Return on invest casting no crash in 1955 such as we had in 1929. In fact, the situ ation changed for the better Oc tober 11, 1954. 26. WAGES. I forecast that the wage trend in organized in dustry will continue to move higher at least in the first half of 1955. During the first half year, when business will be im proving, the labor chieftains will also be quick to resort to the strike weapon. 27. OTHER LABOR GAINS. I forecast that the heavy guns of the labor bigwigs will be trained on the guaranteed annual wage, shorter work week, and more pensions. With a better congres s’on al control of appointments to the National Labor Relations Board, the decisions of that body Stores To Close Saturday Observance New Year's Day Announcement is made by the Merchants Association that stores and business firms of the city will be closed Saturday for New Year’s day. It is also announced mat the us ual Wednesday afternoon closing will be resumed on Wednesday, January 5. ^ c a l ® n *‘ term d °w n - W iu swing more toward labor trend. The first few years after World War II were the golden years for the novice in business and for the inefficient. Those days are gone for awhile. 13. SELECTIVITY. Higher la bor and other costs, plus intensi fied competition, will continue during 1955. I forecast a high ■degree of selectivity in the effect of this trend on individual activi ties and companies. Victory will be for the nimble hnd for the strong! 14. DIVIDENDS. Recent high ty problem. than toward management. 28. NEW INVENTIONS. These will mostly be a labor-saving type. I forecast a marked in crease in automation and cyber netics, and other marvelous changes in oroduction methods. 29. EMPLOYMENT. U n e m- ployment outlook is brighter since business will be on the upgrade during the first half I forecast that local and seasonal unem ployment will still prjve a knot- CotHe Thought To Hove Been Stolen A registered Hereford bull calf weighing about 700 pounds is be lieved to have been stolen from the farm of Henry Hunter on Mil- ton Road near here. Deputy Sheriff Ralph Riddle and Deputy Floyd Pitts said they found two more head of cattle have been missing for two or three weeks from the same area The owners had believed the cat tle merely to have wandered off. Citizens Federal Pays $87,862.21 In 1954 Dividends The Citizens Federal Savings and Loan Association of this city, will pay its regular semi-annual dividend tomorrow to investors as ^of December 31. The dividend is on the basis of 3 per cent per annum. » The December dividend amounts to $44,775.53, added to the June 30th dividend paid of $43,086.68, brings the . total dividend paid during 1954 to $87,862.21, an in crease in excess of $8,000 over last year. WELFARE TOTAL %2 MILLION Columbia, Dec. 26 — Public welfare payments in the state ex • ceeded two million dollars during November. The State Welfare Department said in a report issued today thU Moose Lodge Brings Joy To Many Children Governor Marcelle Barker of local Moose Lodge No. 739 wishes to express the lodge’s apprecia tion for the splendid cooperation of all who contributed toys to “Operation Santa Claus” which was conducted by the organization in part of the Moose’s national program to provide every child possible in the community with Santa Claus toys for Christmas. “We feel that many children were made happy this year who would otherwise have had no Christmas joy and plan to make this an annual affair,” said W. D. Terry, chairman of the program. Moose members, with the splen did cooperation of local residents, merchants and the police depart ment delivered approximately 1,- 200 toys for Santa. $2,073,750 was paid out to 61,923 ^ ~— .•ases representing 93,829 peoplj. IS HOSPITAL PATIENT This was an average payment Friends of Mrs. Henderson of $33.49 a case, 66 cents more Pitts will be interested to know than for November a year ago. | she is a patient at Hays hospital. WHOSE FARM IS THIS? expenditures for new plant and machinery have left some con cerns with very high deprecia tion charges. As new capital commitments are cut and deprec iation remains high, cash inflow could expand. Such companies should be able to pay out in divi dends a higher percentage of earnings in 1955 than in recent years, notwithstanding a moder ate profits ahrinkaga 15. INVENTORIES. Inventor ies have been permitted to run down during 1954. As total busi ness expands, there will be a ten dency to replace reduced stocks, especially during the first half of 1955. Total manufacturers’ in ventories, however, may build up more rapidly than total business inventories. I forecast that total wholesale and total retail inven tories will show little change from 1954 levels. 16. PRICES OF MANUFAC TURED GOODS. Even with the expected pick-up in demand, I see no sharp mark-up in indus trial prices next year. Over-all supplies are generally ample. Hence, I forecast that industrial prices in 1955 will show little 30. FAILURES. The sahent business characteristics of 1955 will be bitter competition. Many companies already weakened by competitive conditions will no longer be able to keep afloat. I forecast a rise in both the number and the total value of failures during 1955. 31. MERGERS. I forecast that mergers and consolidations will be encouraged by federal offic ials, if, by merging, a weak com pany can be saved. But while every effort will be made to pre vent bankruptcies, Washington will frown on large mergers and consolidations. 32. GENERAL REAL ES TATE SALES. The time is al ready past due when real estate prices should have been falling. Only a fear of World War III and easy credit have prevented this. Therefore, I forecast that a downturn in prices cannot long be postponed. 33. URANIUM CRAZE. The greatest speculation will take place in the seeking and trading of land with uranium prospects. This is now centered in Colorado, (continued on page 4) W. Moore, J. Warden; F. E. Mil ler, treasurer; V. P. Adair, secre tary; R. A. Stephenson, S. Deacon; G. J. Sineath, J. Deacon; F. D. Bragg, Jr., steward; E. C. Edwins, steward; Wm. I. Bailey, tiler. William Plumer Jacobs Chap ter No. 54, R. A. M —M. N. De Young, High Priest; S. C. Chaney, King; Wm. J. Davis, Scribe; C. Ray Thomas, C. of H.; G. J. Sin- eath ( P. S.; J. F. Ellisorl, R. A. C.; Glenn D. Gaskins, M. 3rd V.; B. F. Harvey, M. 2nd V.;; J. D. Word, M. 1st V.; F. S. Miller, treasurer; V. P. Adair, secretary; E. C. Eld- wins, sentinel; Rev. JD. B. Tritt, chaplain. Musgrove Council No. 40, R. M. S.^S. C. Chaney, I. M.; M. N. De Young, D. M.; G. J. Sineath, P. C. W. ; F. E. Miller, treasurer; V. P. Adair, recorder; Durward Mur- dock, C. G.,' J. F. Ellison, C. C.; Wm. J. Davis, steward; B. F Har vey, sentinel. Thurmond Goins Senate Seniority By Appointment Columbia—It’s U. S. Sen. Strom Thurmond now. The former governor and 1948 States’ Rights presidential candi date who won unprecedented write-in election as a Democrat against the Democratic party can didate Nov. 2 was appointed to the Senate Christmas Eve. Gov. Byrnes made the appoint ment when Greenville construc tion man Charles Daniel resigned that day from a short term to which Byrnes had appointed him Sept. 6. Daniel had succeeded the late Burnet R. Maybank, renominated without opposition in the June Democratic primary. Thurmond beat State Sen. Ed gar A. Brown, of Barnwell, who was the State Party Executive committee’s choice to Maybank. Thurmond, who .*.1 on a wave of protest over the committee’s refusal to call a primary to name a successor to Maybank, has prom ised to resign in 1956, the next primary year, so Democrats m the state can select by primary then, when he will be a candi date. The appointment of Thurmond gives him seniority over eight new senators who go in next month along with him for new full six- year terms. Good Christmas Business Reported Clinton merchants closed down tight for Christams Day which was a quiet, happy day in the city and community. All during the week the streets were thronged with people mak ing their Christmas buying prep arations. One of the largest crowds on the streets in many years was here Christmas Eve and until closing hours of business at Boston and Gloucester, Mass , a registered nurse. They harve three children, William J. Jr., ten, Tri- cia Ann, seven, and Patrick, six. The Carters are expected in Jo anna early in January to occupy a residence in the community, and will be extended a hearty welcome the managment states. 391 died in traffic tragedies—and an over-all total of 514 accident victims was reported. Automobiles accounted for the great majority of fatalities but 83 persons died in fires during the 54-hour, 2-day period. Falls, bul lets, drownings and miscellaneous mishaps accounted for 60 others. That figure included one small boy who died with a lollypop wedged in his throat. One fire which lashed out when kerosene was splashed In a wood stove took 12 lives at Parkin, Ark. There were no such single mass disasters on the highways, but state traffic death tolls for the period were heavy in some sec tions. Texas counted 35 traffic deaths, California 29, and Penn sylvania 35. In contrast, Nebraska, New Hampshire, North Dakota, Rhode Island, Vermont and Wyoming got through the week-end with no accident deaths. The National Safety Council es timated several days before the holiday that 370 persons would be killed in traffic. Ned H. Deaborn, president of the Council, said: “Certainly there must be a better way for a civil ized nation to spend Christinas than by killing more than 500 in nocent people on the highways and in their own homes. We can only hope that the shock of this toll will result in greater care, courtesy and common sense over New Year’s." The over-all hourly rate of ac cident deaths from 6 p. m. Fri day to midnight Sunday through out the nation was 9.44. This com pared with 7.77 deaths per hour during the catastrophic four-day observance of Independence Day in 1950 when 798 persons were killed by accidents. Traffic deaths this last week end came at an hourly rate of 7*18 compared with a rate of 4.41 per hour during the first 10 months of this year, and 5.45 during the four-day Christmas week-end of 1952 when 556 were killed in traf fic. The stepped-up rates surpassed by far those of the previous two- day Christmas holiday records of 1948 when 277 died in traffic, and 396 from all accident causes. George K. Holt Passes At Home, Rites Held Sunday George K. Holt, 60, of near Kin- ards, died at his home last Friday night after several years of declin ing health. He was a native of Rabun coun ty, North Carolina, and made his home in Laurens county for 15 years. He was a member of the Baptist church. Survivors include his widow, Mrs. Margaret Green Holt, of near Kinards; five sons, Frank M. and Marvin, of Columbia; Ray, of the Unind States Air Force in Green ville, Roy, of Kinards, and Clyde Holt, of Joanna; two daughters, Mrs. W. L. Collenbaek, of Joanna, and M»*s. J. R. Bagwell, of Green ville; 30 ‘.grandchildren; one sis ter, Mrs. Mary McCall, of Wal- halla me legislative delegation will hold its annual open meeting in Funeral services were conduct- the court house next Wednes- ed Sunday afternoon from the day, Jan. 5, it was announced by “ u " "" ' Sen. Ralph T. Wilson. The sen ator will preside and call the meeting to order at 10 a. m. He said that all persons inter ested in state or county legisla tion are invited to attend and make requests or recommenda tions. Members of the delegation be sides the senator are King Dixon, Chas L. Milam and Robert C. Wasson. Mr Milam is an incum bent by reelection last summer. Mr. Dixon was elected for his first term Mr. Wasson is a for- Open Meeting County Delegation Set For January 5 Fire Baptized Holiness church of Joanna by the Rev. Roy Rufif, assisted by the Rev. B. F. Jones. Burial was in Little River-Domi- nick Presbyterian church ceme tery. Internal Revenue Men To Assist In Income Tax Returns During the month of January representatives of the Internal Revenue Service will be at 14 succeed ; places in South Carolina to assist. mer legislator who was elected taxpayers in the perparation of | a ® ain ^ler an interval out of declarations of estimated tax or 0 “ ,c * 1954 income tax returns, accord ing to an announcement by R. C. district director. The assistance is primarily in-' tended for farmers and others 1 Fort Leavenworth, Kan. — LL who must file a declaration or Tol. Fred L. Ross, son of John M. Col. Ross Graduates At Ft. Leavenworth amended declaration of a com pleted 1954 income tax return by January 13, or in the case of farmers, by January 31, it was stated. The ne.-urest point of assistance for Laurens county was listed as Greenwood at the post office building, Januarv 11-14-jJanuary 17. Pick Dulles Mon Of '54 ■i- Haro is our Mystery Farm of lh» week. Whose is it? Readers are Invited to gueea the name of the owner of the farm shown hero. Call your guaea in at the office, bring them in. or mail them in. Identity must be made by the owner and he will receive free of charge the original mounted picture from which the above reproduction was made. There are no prisae offered for the correct guess. Join the fun. New York, Dec. 28—Secretary of State John Foster Dulles today was chosen Time magazine’s an nual “Man of the Year” for “the year’s most effective role ... in the decisive areas of internation al politics." The magazine said Dulles “made mistakes and‘he suffered losses”—principally in the failure of France to support the " Euro seven o’clock. The peak of shop- pean Defense Community plan pign came the last three days with heavy buying. Several merchants when asked about their holiday business reported that buying was heavy and a satisfactory volume of business reported as good as last year. Some said it even sur passed last year. and to withstand Communist pres are in Indochina. “But he was nimble in disen tangling himself from his er rors,” the magazine said, and he made clear-cut gains in the Mid dle Blast, Europe and the Ameri cas. hoss of Joanna, recently was graduated from the Army’s Com mand and General Staff College at Fort Leavenworth. Kan. Colonel Ross alter.Jed the as sociate command and general staff officer course, designed to qualify officers for combat divi sion and logistical command gen eral staff work. He also was fa miliarized with staff duties -.t corps, army and communications zone level. Ross is assigned to the 45th An ti-Aircraft Brigade at Fort Sher idan, 111. and before entering the Army in 1941 attended Presby terian college. He is the son of John Ross, well known Joanna resident District Schools To Re-Open Monday Schools of District No. 56 will re-open next Monday morning following a two-weeks holiday period for Crnstmas. «llll■lllll — l —i«. MRS. WILLARD IMPROVING FYiends of Mrs. J. Lee Willard will be glad to know her condit- r n is improving at Hays hospital where she has been a patient the past week