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THE CLINTON CHHONICLB Ulbf (CltntflM (tUprontrU B»fbihU4 1*M WILSON W. HARRIS, Editor md PiAliriwr HARRY C. LAYTON, AMtoUat *'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 Chrqpicle will publish letters of general interest when they are not of a defamatory nature. Anonymous communications will not be noticed. - This paper is not responsible for the views or opinions of its correspondents. Member: South Carolina Press Association, National Editorial Association National Advertising Representative: AMERICAN PRESS ASSOCIATION New York, Chicago, Detroit. Philadelphia CLINTON, S. C., THURSDAY, JANUARY 6, 1955 Council Acted Wisely We Think City Council on Monday night received three bids for the advertised unimproved business property on North Broad street owned by the city for a number of years, and purchased with the expectation in the future of erecting a city administration building to care for all departments of the city’s business. The bids ranging from top of $22,505 to $20,100 were rejected for several reas ons, council stated, principally because in its judgment the bids were too low. In The Chronicle’s judgment Council was correct in the position it took. The property should be retained for the city’s use when financial conditions warrant the erection of a building on the lot. Based on the value of choice unimproved property in the city the offer was entirely too low in our opinion. The lot measures 128 feet frontage and on the basis of the high bid ' averaged $175 per foot. There are two choice pieces of unimproved business prop- ^erty in the city, that owned by the city and the other privately owned across the street. We consider these the most desirable and valuable pieces of property in the city for business expansion. A local bank recently purchased a building lot opposite the city property for $15,000, a base of $300 per foot. The bank we presume would not sell the property today for the purchase price. The property across the street privately owned cannot be bought for $300 a foot, is our guess. There is practically no busi ness property for sale in the city for we know several unsuccessful efforts have been made in the past several years by in terested parties. Unimproved property has sold on an average of $200 per foot in oth er parts of the city, and we doubt that any in the city is now available at that price. Therefore, in our opinion, the offer receiv ed is entirely out of line with the value of the property which certainly should be classified as choice with valuations on North Broad street in excess of other sec tions of the town. ^ The Chronicle along with many others, feels that the property should be retained by the city for future development. Cer- ! tainly it does not seem the part of wisdom or good business to dispose of property on a foot basis of $175 when property just across the street has recently sold for $300 a foot and the buyers were satisfied with the purchase. No property in that area can be bought for less than $300 a foot as the record shows. March Of Dimes Time Again Plans are now underway for an inten sive nationwide drive for March of Dimes to continue through the month of Janu ary. Thousands of volunteer workers across the nation will join ranks in waging the campaign devoted exclusively to wip ing out infantile paralysis, and all of us should be thankful to God that progress is being made against this dread disease. The Laurens county campaign fortun ately is again headed by Judge Hewlette Wasson as chairman. He is the right man to direct the appeal. The Judge has em phasized the importance of the campaign by the National Foundation for Infantile Paralysis, and speaks of the invaluable sci entific research being made in the fight against this crippling disease. He has call ed upon the leaders and workers for the campaign to join in putting across a suc cessful drive in our county. The appeal should be stronger and wider this year due to the bright promise of a permanent vac cine against the dread disease. And es pecially for the residents of this section of the county should the call appeal for con tributions since the prevalence the past year has been in this comjnJ&njit^. This should add impetus to the drive and stimu late liberal giving. Medical authorities tell us that polio prevention is in sight now for the first time, and this calls for additional millions in vol untary contributions to help carry on the work and aid those who are stricken, es pecially little children. There must be vol unteer workers whose heart is in the cause. This means there must be more dimes than ever before for the prevention program, and to see that the tens of thousands of vic tims of the disease are not forgotten. The Kiwanis clubs of this city and Lau rens are offering their services to sponsor the county campaign with the cooperation of W. K. Waits for the Joanna area. As the workers go forth with their appeal all of us should open our hearts, tl must not be merely a sponsorship by words, but active work to bring the appeal before the peo ple and to raise every dollar possible to go into the fund in this fight. Coin contain ers, appeals by letters, special events and solicitations will be used in raising dimes and dollars that are needed—the ammuni tion in this crucial battle affecting us all, and especially parents and little children. Many of us have contributed to the local Community Chest. That is a poor excuse to turn a deaf ear to what we consider the most worthy and hopeful appeal before the American people today. BABSON . . . Discusses "Finding Fortunes"^ By ROGER W. BABSON New York City, January' 6—I have just been asked by a Wall Street banker to help him get some so-called “worthless” securities away from the readers of this column for a few cents a cer tificate. (not per share) "Worihlee*" Stocks May Be Valuable I hear that for every fifty certificates which this broker buys, he finds that forty-nine are now worthless; but one is worth perhaps $1,000. This I would be a certificate which some company needs * in order to dissolve or consolidate without any outstanding obligations or complications. Of course, it would be unfair to my readers for me to advise them what to do. But, I do urge you to throw nothing away which looks like a stock certificate even if your father or brother says it is “valueless and just cluttering up his desk or safe deposit box.” Please do not send me any certificates to look at, but show them to your regular banker, if you wish Uranium Is Recovering Values Most of these "worthless” cer- R«r«r W. Babtoa tificates in your attic or desk drawers are of old mining companies. They may never have been any good, or are of mines which have completely “petered out.” The company did not have the money to dissolve legally, but some rancher has paid the taxes for the privilege of using the land for pasture. Hence, the company w F as forgotten after the stockholders were told it was no good. The land is still useless for getting gold or sil ver, copper or lead; but uranium may have been found! As a result, the land could increase in value in one week from $5.00 per acre to $50.00 per acre! Some old-timer who remembers the old company has found a list of the old stockholders and has written them a letter offering $10.00 a share. As the envelope containing these certifi cates was marked “valueless,” the family sold them for $10.00 per share while today they are really worth $1,000 a share. Stockholders Too Often Move Away When you move frnm one house to another and especially from one city to another, be sure to write the company in which you hold any stock of your new address. Don’t ever look at a “value less” certificate and say it is not worth a 3-cent postage stamp and the time required for writing such a letter. After too many changes of address, your evenlope comes back marked “unknown” and the company marks you “dead.” One of the companies in which my family has very large holdings (United Stores Common, sell ing on the American Stock Exchange for $3 to $4) has nearly 100 such stockholders who cannot be lo cated. Perhaps you are one of these stockhold ers. There probably are hundreds of other com panies just like United Stores. This stock couid easily double or treble in value. Navar Sail Dafaultad Bonds When a stock stops paying dividends the price of the stock may gradually decline, but no one gets panicky. The stoekholedrs hope for a re sumption of dividends. When, however, a bond defaults—especially a foreign bond—most bond holders think this is the end. The price of the bond then suddenly drops from around par to fifty cents on the dollar. Discouraged bondhold ers have rushed to sell their bonds and the price has dropped to twenty or even less. But, in the course of years, many of these bonds returned in value to $1,000. * Some of the hotels in the famous Sheraton Chain were built in the gay nineties. The bonus were sold for $1,000 each. Then they defaulted and kicked about at $200 for years. Finally, one of Boston’s most courageous financiers, Ernest Hen derson, had faith in the hotel business and bought up these bonds. They have since been paid off at par. What You Should Do Before selling any “worthless stock” or de faulted bond, you can send $2.00 to the Informa tion Center at New Boston, New Hampshire, "nuk gives no investment advice but has lists of 40,000 such stocks aAd will pass along to you what report it has on file, i This is a non-profit educational as sociation to help deserving people on business problems. The $2.00 will cover a full year's in quiry. In other words, you can write again about the same stock or bond any time within 12 months without further cost to you. Wohrman 1st To Win 2 Years In Row South Carolina Fullback Bill Wohrman today became the first player ever to emerge as a double- winner of the Jacobs Blocking Trophies for two straight years with the announcement that he domi nated voting for the state of South Carolina award. Earlier, he had been declared the winner of the trophy as the best blocker in the Atlantic Coast conference during the past saeson. These two awards, determined by a vote of arportswriters and coaches, were the same ones Wohrman captured last year as the second double-winner in the 2g- year history of the coveted trophies. The big, blonde Caroline star will receive his awards at the annual Jacob# Blocking Trophy ban quet to be held at Presbyterian college on Jan. 14. This colorful occasion also will turn the spotlight on the best Mockers in the Southern and Southeastern conferences. West Virginia Guard Gene Lamons is the South ern conference winner for 1964; and Mississippi State FuUback Charles Evans, the Southeastern con ference recipient. 1H ( WORLDS MOST WIDTIY USED DEVOTIONAL CUDF What shall a man give in ex change for his soul? (Mark 8:37.) Raad Mark 8:31-37. Jesus made some most striking remarks, as found in our Bible reading for today. Peter had just made the great confession, saying to Jesus, “Thou art the Christ.” Jesus thereupon told the disciples something of what He had to endure and suffer. Peter rebuked Jes us for saying that the Christ must suffer and die. Suffering was to be God’s way of proving His love for man and of truly giving Him self to man. There was no other way. Likewise, there is no other way for us to prove our love. We must be willing to sacrifice, to suffer, even to die if need be, in be half of those we love. “God is love” means God is Self-giving. The measure of our love is the extent to which we are willing to give ourselves, and do give ourselves, in unselfish service. The giving of self in such service is its own reward. ’ i PRAYER Eternal God. Thou hast given Thyself to us. Help us to receive the gift, and in response to give ourselves to The#.. In the name of Christ, who taught us to pray. "Our Father who art in heaven .. . Amen." THOUGHT FOR THE DAY The giving of self in service in Christ’s name is its own reward. American Legion To Sponsor Dance For March Of Dimes Income Tax Law Change Aids Farmer Washington, Jan. 1.—One tna- jor change and many minor re visions in the federal personal income tax law, will benefit the American farmer. And, like the rest of us, he will be helped by 14 major changes—all of them in favor of the taxpayer—which were writ ten into the law by the 83rd Con gress. But deadlines come earlier for farm income, and at least one decision must be made by Jan. 15th. Every citizen, or resident, of the United States who in lt$4 hgd $800 total income ($1,200 in the oast of tfcoae $9 years or old er) must file eg income tax re turn. That applies to children as' well as adults. The one major change which applies praticularly to the fann er is a provision under which soil and water conservation ex penses can be deducted from the farmer’s taxable income. Under the old code, the farmer could get tax benefit for such expend itures only when he sold his im proved land. The fanner’s income tax re port can get pretty complicated. During tax payment time, the revenue service spots as many of its personnel about the coun try as it can as free tax coun selors. They can be located through your local bank, post office or county agent. The revenue service has mail ed everyone who filed a 1953 farmer’s income tax report the special forms for farmers for 1954. With the forms comes an instruction booklet. In addition the revenue service has on sale, for 26 cents at post offices and banks; a plain-English booklet called '“Your Federal Income Tax.” This has a special 10-page section for fanners. Tlie farmer may use ealy form 104$, either as a short form or long foam. Here is how dates for filing work under the near law: 1. The farmer who has not es timated his 1954 tax, and has net made quarterly payments, or the farmer who wishes to skip the Jan. 15, 1955, payment on his es timated 1954 tax return. Form 1040, and pay up in full by Jan- 31, 1955. 2. The farmer who has follow ed the estimating procedure, and makes the Jan. 15, 1955, quar terly payment of his estimated tax liability, has until April 15 to file his final return, and make any further payment required by his actual income. SUBSCRIBE TO THE CHRONICLE J. R. Crawford SURVEYING CLINTON. 8. C. Phene 3403 Joanna Or ANNUAL MEETING QT MWMiro The Annual Meeting of thn Members of the Cititens Federal Savings and Loan Association, Clinton, S. C., will be held in the office of the Association at MS West Main Street, in Clinton, & C., at 2 o’clock in the afternoon on Thursday, January 20, 1964, for the election of Directors and for the transaction of any other bu sinew of the Association. J. SLOAN TODD, Secretary 2c-J-ll WE DO ALL KINDS OF PRINTING—EXCEPT BAD CHRONICLE PUBLISHING CO. Gray Funeral Home <' t i ti lc n S C n \i ru. niRi rmR- and I'MRAI 'n'R> I’liOUfj II .11 • <1 I \mhi i \\< i -I it > I KI SS! I.L M W .»"<) V. r \KK N \ 1 * MR, (. n M;: : MISS SUBEH Copeland-Davidson Post 56 of the American Legion will spon sor a March bf Dimes dance Sat urday night, January 22, from 8:30 to 11:30 p. m., at the Clinton armory, local post officials stated yesterday. The feature of the dance will be Miss. Rankin Suber, student at the University of South Caro lina, who was crowned Miss South Carolina of 1955 at the beauty pageant at Myrtle Beach the past summer. Miss Suber represented South Carolina at the Miss America Pageant in Atlantic City, N. J., and was sec ond runner-up for the national title. Admission for the dance will be $1.50 per couple and dress will be optionak Proceeds of the dance will go to the Infantile Paralysis Fund of this county. “We are pleased to sponsor such a worthy event, and invito all to attend and help in the fight against the ruthless enemy, in fantile paralysis,” Post Com mander Robert S. Powell, stated. Members of the committee are Pope Chapman, Roy Smith, Mac Hipp, and Mrs. Allen E. Inglett of the city, Eugene Johnson and James Barre of Kinards. Tickets may be purchased at any local drug stores or from members of the dance committee. NOTICE OF ANNUAL MEET ING OF STOCKHOLDERS OF CLINTON COMMUN ITY HOTEL CORPOR ATION Notice is hereby given that the annual meeting of the stockhold ers of Clinton Community Hotel Corporation, a South Carolina corporation, will be held at the Hotel Mary Musgrove, in Clinton, South Caroline, on Tuesday, Jan. 11, 1955, at 7:30 p. m., for the election of a Board of Directors for the ensuing year and for the transaction of such other busi ness as properly may come be fore the meeting. Only stockholders of record at the closing of the books of the Corporation on Dec. 31, 1954, will be entitled to vote at the afore said meeting or any adjournment •.hereof. By order of the Board of Di rectors. R. L. PLAXICO, . President lc Don’t Miss MILTON’S Gigantic Unloading Sale Laurens’ Most Sensational Shoe Sale Is Now Underway With Every Shoe Drastically Reduced! This is NOT a stock of odds-and-onds but a store full of NATIONALLY-ADVERTISED SHOES at RIDICULOUSLY LOW PRICES! Come in rlgjit away and buy several pair at these huge savings! -ai -L HUGE SELECTION IN PLENTY OF SIZES! —SUCH BRAND NAMES AS— PENALJO CITATION TEE GEEZ TROYLINGS RED CROSS FASHION POLL PARROT SNOW FLATS FOR CHILDREN FREEMAN and RAND For Men and Boys (Adult Shoes Displayed On Self-Service Racks) All Boys Shoes Drastically Reduced In Sizes 3 to 6 and 6 to 9 AU Children’s Shoes Reduced But Not Displayed On Racks SALE GOES ON AS LONG AS THEY LAST! NO FOOLING — f(0 BLUFFING — THESE SHOES MUST GO! i ... All Sales Final—No Refunds Or Exchanges ... MILTON’S Laurens, S. C. 'Laurens’ Most Modern Shoe Store” E. Side Square NOTICE STOCKHOLDERS MEETING The annual meeting of the stockholders of the Bank of Clin ton will be held in the office of the Bank on Tuesday, January 11, 1955, at 4:00 p. m. R. P. HAMER, President lc CUT TIMBER fmtar, Eathr mt HOMEUTE On* Man Chain Saw Laurens Saw Co. STATEMENT OF CONDITION OF THE Citizens Federal Savings & Loan Association Clinton, South Carolina At Hie Close of Business December 31,1954 ASSETS First Mortgage Loans $2,790,041.79 Loans On Savings Accounts 11,842.74 Investments and Securitiee 390,045.Q0 Cash On Hand and In Banks 186,&>5,62 Office Building and Equipment, Less Depreciation 36,793.50 TOTAL $3,415,378.65 LIABILITIES Savings Accounts $3,128,416.70 Borrowed Money None Loans In Process 41,733.51 Specific Reserves 1,000.00 General Reserves $198,672.32 Undivided Profits 50,556.12 244,228.44 TOTAL $3,415^78.65 Member Federal Savings and Loan Insurance Corporation $87,862.21 Paid in Dividends to Our Investors in 1954 Home loonj? OFFICERS lab J. P. Invest With 1 Safety, Profit and Convanience Insured Savings (Near Pufeweei Yas4) ROUTE 2—LAURENS tIST ar tilt ideral Savings lAND LOAN ASSOCIATION R. T. B. J. ^1? v A CLINTON INSTITUTION SERVING CLINTON PEOPLE POE 4^ TEARS ASSETS OVER THREE MILLION DOLLARS rrrrf rt u