The Clinton chronicle. (Clinton, S.C.) 1901-current, March 10, 1955, Image 15
Thursday, March 10,1955
THE CLINTON CHRONICLE
WHOSE FARM IS THIS?
H«r« It our Mystery Farm of tho wook.
Whoso It It? Roodors art In sited to gusts tho
uaino of tho ownor of tho fans shown horo. Call
your guott la at tho offico, bring thorn in. or
mall thorn In. Idontlty must bo mado by tho
Things Are Definitely On Upbeat
In Key Areas Of Nation's Business
ownor and ho will rocoiro froo of charge tho
original mounted picture from which tho above
reproduction was mado. There are no prises
offered for tho correct guott. Join tho fun.
New York, March 6.—Things
were definitely on the upbeat last
week in key areas of the nation's
business.
Here’s where you couid spot the
most impressive gains:
Consumer spending at retail,
four to six per cent higher than
a year ago.
Automobile production, signifi
cantly higher than the week be
fore and yust below the all-time
peak. ■
Contracts awarded for heavy
construction jobs, 58 per cent
ahead of the year-ago rate.
Aroduotion and refining of crude
oil—highest eves* recorded.
Brisk demand for unfinished
steel indicated a renewal of inven
tory building by major steel con
sumers. Output of the nation’s
k steel mitts hit 90 per cent of ca
pacity for th esecond week in a
row. Prices of iron ore moved up.
With practically aU the import
ant business indicators pointing
higher, the big question was: How
long would it last?
Attention focused on two main
props—auto output and home
building.
It was obvious that auto produc
tion—roaring along at a rate of
nearly .nine million cars a year—
would eventually slacken. Harlow
H. Curtice, president of General
Motors, tipped an earlier forecast
and predicted the industry would
build and sell 7 Vi million cars in
the United States this year. Some
called his figures overly optimistic.
The home building boom, with
its huge paiyroU and its tremen
dous consumption of materials,
came in for close scrutiny in the
March letter of the National City
Bank of New York.
The bank pointed out that new
homes built in the three yeari
ended last April—roughly 3,300,-
000—outnumbered new families
formed in that period by about
3-2. It also warned that funds
available for investment in mort
gages are no longer as plentiful
as they were a few months back.
As of now, said the bank, de
mand for housing is being sustain
ed by such factors as the desire
of, many families for larger homes,
and migration of city people to the
suburbs—trends which are highly
vulnerable to economic change.
* bven be.ore the latest surge,"
H said, "many persons were con
cerned about the high rate of
housing construction. They won
dered how much longer people
would continue to buy a million
or more homes a year—also about
the increased volume of mortgage
credit and the easy terms on which
most of it was etxendde.”
The week also saw renewed
pre-occupation with the spending
habits of Mr. and Mrs. Consumer.
January, the month right after
Christmas, is usually a time when
consumer spending shows a mark
ed decline. And a key yardstick
for consumer spending is install
ment credit, reflecting the volume
of fnerchandise purchased on the
cuff. ’
In January this year, the Fed
eral Reserve Board reported, in
stallment credit showed a "much
less than normal'’ decline of only
31 million dollars. The January
dip last year was 361 million. At
month’s end, total instalment
credit was 22Vfc billion dollars.
That was only about one per cent
below the all-time high of Decem
ber, 1954.
Ihe stock market punched to
new all-time highs last week. And
there was welcome news for
stockholders from another quar
ter: Government economists said
cash dividends paid by publicly
reporting corporations in January
totaled 721 million dollars—a gam
of 32 million, or 4 Vs per cent, over
the same month last year.
Are stock prices too high? G.
Keith Funs ton, president of the
New York Stock Exchange, told
the first congressional investiga
tion of Wall Street in 20 years that
the 18-month old boom in stock
prices reflects a sound economy
and a hopeful future for the na
tion. He said the possibility of a
market break can not be ruled
out, but added:
"Personally I bought some
stocks in January and February,
and as soon as I get some more
savings I’m going to buy some
mor....e. H
Briefly over the business scene:
The Senate Finance Committee
killed Democratic proposals for a
$20-a-person cut in income taxes.
Boeing Airplane Co. got a 460-
mlilion-dollar Air Corce contract
for jet-propelled "tanker" planes.
They’ll refuel high-flying bombers
and fighters. Sobering Corp. in
troduced a new drug, meticorton,
for use in treatment of artiritis.
The Pennsylvania Rail Road be
gan hauling loaded truck-trailers
aboard flatcars, piggy-back style,
between New York and. Chicago.
! Alcoholism Todov
By Muds C. Collins. Dixsctor.
Fairriaw Alcoholic Rshabiliia-
' Hon Center, Ridgeway. 8. C.
HwwiiwwwiniiiiiwiMiwwttMiiwwMwgiiwwiiwinnn
WwW ELSE A TFLIOW
I HAS to UE-r CrO oe,
1 0^ ALL means hang
ON to touR !
CREDIT, I ' ^
ALWAVS SAT?
2% INTEREST PAID ON SAVINGS
ACCOUNTS SEMI-ANNUALLY
WHEN YOU
THINK
OF BANKING
OF—
1 Meml
||****«*K*«
Bank of Clinton
Bflembtr Federal Deposit Insurance Corporation
wwawMaiiMiswmnHnnTTT
Letter To An Alcoholic:
Dear Bill—
We have talked about key
words, including readiness, ad
mit, accept, and hitting bottom.
In a way, Surrender includes all
of these, but it is more.
Many an alcoholic thinks that
he has surrendered, and stays
sober for a few days, weeks, or
even months, then begins to
drink again because he has not
actually surrendered. He has
probably been complying. Com.
pliance with the demands of so
ciety that he stay sober may
temporarily satisfy the alcohol
ic and will doubtless please all
who know him, but it will never
enable him to remain sober per
manently.
Compliance is submission. Sur
render is unconditional accept
ance. To illustrate the differ
ence, suppose a robber with a
gun entered your home and
threatened you with the gun un
less jN>u gave him your money.
You would submit because the
money was of less value than
your life or the lives of your
family. But if the gunman be
gan to abuse your wife and chil
dren you would probably attack
because they mean more to you
than your life. Compliance is
like that. It is a temporary trade
whereby the alcoholic, for a
time, gives up alcohol in order
to escape pressure or punish
ment.
Unconditional surrender, on
the other hand, is a complete,
recognition that no matter what
happens, rebellion and resistance
are useless.
The difference between com
pliance and surrender explains
why many alcoholics sincerely*
believe they want to stop drink
ing. Compliance is of the con.
scious mind. Surrender follows
a feeling conviction which per
suades the unconscious mind and
conscious mind that alcohol is a
totally impossible way of life.
Then the almoholic can hope to
stop drinking.
The unconscious may be com
pared to a tape recorder, which
records all impressions, but lacks
when the alcoholic is afraid, or
the powers of reason. Therefore,
upset, or disappointed or has
“bad” feelings and takes a drink
and the bad feelings go away,
the unconscious mind decides
that alcohol is good. When the
hangover comes and the bad
feeling is worse, the unconscious
mind recalls that alcohol de
stroyed that bad feeling before
and says, "Let’s have another
drink and the bad feeling will go
away:" There is no relation be
tween the drink last night and
the bad feeling today insofar as
the unconscious mind is concern
ed. This may explain in part
why the alcoholic who con
sciously admits he is an alco
holic will take a drink.
The only thing that will ef
fectively reach the unconscious
mind and persuade it that alco
hol CAUSES the bad feelings is
a religious type feeling convic
tion which is associated with un
conditional surrender.
Gray
Funeral Home
Clinton > t
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Business Men.Are Asked To Fight
Guaranieed Annual Minimum Wage Aim
bf Columbia, representing thg
attorney general’s office. His de
cision, postopned to give attor
neys time to search for addition-
Washington, March 5— Busi-
ressmen are being asked to con
tribute to a "hard-hitting” pub
lic relations campaign sponsored
by the National Association of
Manufacturers against the guar
anteed annual wage and other
labor union aims.
Letters soliciting funds for the
campaign say business condit
ions look good for 1955, “but we
will have to fight to make it so.”
The guaranteed annual wage is
described as a "disturbing threat
to 1955 prospects.”
“Your past support,” business
leaders are told, “has been of
great help in creating the im
proved economic climate in
which we now operate. We must
not let it disappear.”
An accoimt of the fund-raising
letter appears in the current is
sue of the railroad union news,
paper, Labor. The NAM, que
ried about it, made a copy avail
able to a reporter. Labor said
the letter revealed formation of
“a gigantic propaganda fund” to
defeat union labor’s chief 1955
goals
Signed by Ira Mosher, a Mas
sachusetts manufacturer who is
a former president of the NAM,
and chairman of the United
Business Committee' allied with
the NAM, the letter says:
“Presently the most disturbing
threat to 1955 prospects are CIO
president Walter Reuther’s an
nounced intentions to 1, press for
repeal of the Taft-Hartley waiv
er which specifically leaves to
the states the authority to out
law compulsory unionism; and 2,
win a guaranteed annual wage
for his members.”
Mosher said Reuther is raising
a 25-million-dollar strike fund in
the IO workers union to back up
the wage demand. He said his
business group can’t match the
budget which “the opposition
plans for the fight but w©i will
make every dollar we do have
count.”
Contribution cards enclosed
with the letters say “the size of
of your gift is optional." They
suggest that “Many firms are
subscribing at the rate of 50
cents per $1,000 of gross annual
payrool or $1.50 per emplAyee,
including eecutives.”
The paper Labor said that
with manufacturing payrolls
running .about 64 billion dollars
a year, if all manufacturers con
tributed the suggested amount
the total would be as high as 32
million. It said the fund appeal
is not limited solely to manufac
turers but is directed to all
“business leadership.”
I —
! Judge Rules Tag Fee
jComplaint Was Valid
Kmgstree, March 5—Judge J.
Frank Eatmon today overruled a
demurrer filed by the attorney
general representing the State
Highway Department in the ”30
cents case,” and in effect ruled
that Arthur H Wilder of Sumter,
has grounds for complaint
against the department
The case involves the payment
of a 30-cent postal fee charged
! for a while by the Highway De-
j partment on automobile licenses
issued over the counter in addi-
; tion to the jlrice of the plate
1 itselt
The case was instigated by Ar
thur H. Wilder, Sumter attorney,
who paid the 30-cent fee for a
linceipe bought over the counter,
, then brought action on his own
behalf and on "behalf of all oth
ers in like situation.”
| Judge Eatmon presided at a
hearing in Kingstree January 8,
! attended by Mr. Wilder, his 3
'attorneys and James S Vemer
al information, was
down this morning.
The demurrer was filed on the
grounds that the court has no
jurisdiction over the defendant
or the subject matter of the ac
tion, as that action was brought
against the state which had not
consented to the suit. j
In his order today Judge Eat
mon stated: "Section 48-50 of the
Code of Laws 1952, gave the
plaintiff and others in like situa
tion the right to collect from the
State Highway Department any
fees collected by this department
not authorized by law. The re
payment of such fees or amount
is required by the statute eithe*
on the intiative of the depart
ment or upon application there
to.” The filing of a verified
complaint, as was done by Mr.
Wilder is in effect, the filing of a
claim under statute, he said.
Judge Eatmon’s order also
held: That the demurrer admit
ted that the State Highway De
partment has received from au
tomobile owners purchasing li
cense plates over the counter 30
cents for each of the plates; that
persons purchasing the plates
were required to pay the sum
before they could acquire the
handW--iitted from the payments.
plates; that the 30 cents belongs
to the persons who paid the sum
under duress; that the State
Highway Department has bene-
ment has closed collection of the
so-called postage fee, and would
not impose it again during the
proceedings. Judge Eatmon de
clared the court would not con-
As the court has been notified l sider it necessary at this time to
that the State Hgihway Depart-1 issue an injunction.
LEGAL NOTICE
State of South Carolina.
County of Lauroos
Notice is hereby given of a
special meeting of the stockhold
ers of Lydia Cotton Mills to be
held at three o’clock, P. M., on
the 29th day of March, 1955, at
the offices of the Company, at
Clinton, South Carolina, for the
purpose of considering a resolu
tion adopted and proposed by the
Board of Directors to increase the
capital stock of the corporation
up to $1,600,000.00.
—P. S. BAILEY,
President.
D. HAIRSTON,
Secretary.
4C-M-24
STEPPING STONES
TO HOME OWNERSHIP
If you’ve found the home you want and can males
the down payment, the next step is to get the
right loan. Our mortgage loan p&n is worked
out to fit your budget. You repay your loan in
monthly payments which may include taxes and
insurance. And there's no red tape when you
finance your home here!
ederal Savings
(AND LOAN ASSOCIATION
A Clinton Institution Serving Clinton People Since 1909
Telephone No. t
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