The Clinton chronicle. (Clinton, S.C.) 1901-current, February 21, 1957, Image 2
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. I ■
Page Two
THE CLINTON CHRONICLE
Thursday, February 21, 1957
Anderson on Committee
Seeking Plywood Quota
AjTeTTart will bo made to have|
the CamgTejp fix a quota on 'im
ports of-foreign plywood. L.. W
Anderson, ipresideht of Standard
Ply woods. Inc. said on-his return
fr<Hn Washington this week.
Mr' Anderson is a member of
, the newly organized Hardwood
Plywood Manufacturers commit
tee. The group, composed of lead
ing hardwood plywood and veneer,
executives,, is seeking relief for
plywood plants from excessive
competition from imported .ply-
wtxKis. .According to information
.presented to the committee, Mr.
Anderson said, certain _ (plywood
plants already have been closed
down, paralyzing their communi
ties, and others are faced . with
closing. ,
Uunng 'his stay in Washington,
Mr Anderson attended^ dinner at
which a number oi leading mem
bers ol Congress wehe guests, in
cluding Congressman Riley, Con
gressman Aslunore and Senator
Strom Thurmond.
Mr Anderson pointed out that!
imports of Japanese plywood alone
have increased more than • 4,000
per cent since 1951. This reaches
.‘American markets a
below domestic
because of cheap JapaneseHabor.
Japanese' plywood workers are
paid 1! cents per hour, Mr. An-
rierson said, in contrast to a legal
minimum of $1.00 here. This
makes the labor exist of Japanese
plywood ixniH to about $4.17 per
1.000 square feet in comparison to
a little ix'tter than $30 in Amen-
— 1 —-
Although consumption of ply-
wood in the United States has in-
iteased 74 per cent'since 1'951,
American plants were able to cap
ture only six-tenths of one per j
Market Quotations
Of Local Interest
Quotations of local interest.
.Courtesy of Wolfe and Addison,
Investment Dealers.)
cent of this increase because of
foreign competition.
The manufacturers *commil/ee
urged setting a quota on foreign
plywood importation at 15 per
cent of domestic consumption. It
plans to conduct an educational
campaign and present the issue to
the Congress '
WASHINGTON AND
" r a ji a i i
SMALL BUSINESS”
By C. WILSON HARDER
Sheely Gets 50-Year
Emblem For Service
With Seaboard Road
Olin H. Sheely on Thursday
was presented a diamond-studded
emblem denoting the 50th anni
versary of his service with the
Seaboard railroad.
The presentation was made by
Julian Bell. Clinton agent for the
Seaboard, at the railroad's offices
here
' Mr. Sheely began his career
with the Seaboard in December,
prices far.
irodticnon 1 uo~stg''
Congress will again this ses
sion consider a multi-billion-
dollar federal aid to schools bill.
* * *
Nation’s small businessmen,
in previous expressions of opinion
through National Federation of
Independent Business, have op
posed this plan to further infil-
trate local!
affairs with!
Washington bu-l
reaucracy. t.
* * * fl
N a -t i o n ’ s M
independent
businessmen
are not insensi
tive tq need for
more school
facilities. As
a class, local c. W. Harder
businessmen, with a stake in
their Communities, take a much
greater interest in civic affairs
than most.
• * *
But it is well known one dollar
spent at local level will do the
work of at least two dollars fil
tering down through a Washing
ton bureau. And this is not the
time, it is felt, to create any
more federal spending bureaus.
Rather, it is time to cut down, or
eliminate them.
* • *
Because despite all propagan
da consumer buying and install
ment credit have created infla
tionary pressures which govern
ment now seeks to control through
destroying credit, government it
self is creating inflation.
* * *
In year just ended, gross na
tional income was approximately
$334 billion. Total governmental
expenditures, federal, state and
local, accounted for about $114
billion. Thus, governmental ex
penditures equalled over one-
third, or 34^, of'total national
Income. Many outstanding econ
omists claim when any nation
has reached a 25 r o ratio, eco-
i nomic collapse has followed.
• * •
Significantly.’' while in many
areas, school needs are critical,
fc' Nanonal KV I rartT n • f Indfp**n ifnt IVusIuk*
federal government throws
money around in global WPA
schemes. To get this money to
squander, federal government
usurps sources of revenue local
government would ordinarily tap
to support education.
* • •
The situation is serious. Tru
man administration failed to stop
march of inflation. Elsenhower
administration has also been in
effectual in this direction.
• * •
Purchasing power of dollar lu>s
hit the lowest point in histonQ,
since Revolutionary Days. Last~
October. Consumer prices hit all-
time high, going up almost 18%
over 1947-49 level.
/ * * *
It is also important to consider
that 19p6 was banner year as far
as iny'omes were concerned, yet
.governmental spending equalled
34% of that high level. With even
a slight recession, or a slight in
crease in governmental spending,
governmental expenditures could
easily equal 50% of national in
come, sending dollar down even
further in value.
• * *
Thus, if Johnny or Susie does
n’t have a desk to sit at in school,
there may be some parental
solution in fact money that
have bought that desk went
seas to help some foreign’mo
nopoly get an even tighter stran
gle hold on world's economy.
Perhaps price of that desk
equalled cost of one U. S. donated
bomb England dropped on Egypt,
blowing sky high Egyptian equiv
alent of little Johnny who didn’t
have a desk, either.
* * * .
Congress could help the school
children of the nation immediate
ly. But that help will not come
from pouring billions into a new
federal bureaucracy. That help
will only come from cutting down
on federal spending so that local
governmental units can raise
money to take care of vital, es
sential American needs. The
problem is .quite elemental.
Business Leaders Urged To Make
Their Voices Heard in Washington
Bid
Ask
Amer. Mernta
44,
25\
46
Col. Store's
26 3 4
(‘len.- .Amer. Oil
37 4
38 3 4
Lone Star Steel
28
29
Sonoco
27
■274
Teaxs Nat. Gas
57 3 4
604
Unit. Amr. .
3*8
, 34
Winn-Dixie
191 4
194
(imt. Accum. Fund
10.81
11.75
Unit. Cont Fund
7.81
8.54
Unit Inc. Fund
965
10,48
Unit Sci. Fuxxdif
10.41
11.38
Canadian., ( .
McD. Aircraft-/
15.85 ‘
39
17.23
Supplied Merrill Lynch, Pierce,
Fenner and Beane at 1:40 p. m.,
Feb. 19, 1957. ’
1906, at Clinton as telegrapth ope
rator. He was later assigned as
I chief clerk to the agent, and on
| February 1. 1941, was appointed
as agent He held this position
until his retirement on Septem
ber 30, 1955.' x
Following is a latter received
by Mr. Sheely from John W.
Smith, president of the Seaboard:
“I have just learned that you
have passed your fiftieth anniver
sary of service with the Seaboard
and extend to you my congratula
tions upon this enviable revord.
It is the.-wbolehearteii coopera
tion of men like you which has
placed the Seaboard in the posi-
j Lion it now occupies in the rail-
icad world, and I want vou to
know that the sprit is sincerely
appreciated.
"As a token of appreciation and
affection that this company feels
toward you after a long and hap
py association, it is my privilege
to present you with the Sea
board's fifty-year service medal.”
Services Sunday
For Mrs. Workman
Funeral services for Mrs. Bea
trice Thackston Workman who
died early Friday morning in
Greenville hospital, were held
Sunday at Kennedy Mortuary in
Laurens by the Rev. James A
Grigsby, the Rev. James E Kinard
and the Jlev. James 1L Lindsay.
Burial was in the Forest Lawn
cemetery.
Mrs. Workman was the mother
of Willie Workman of this city.
NEW SUBSCRIBERS
J. B. CARTER,
Smi^hfield, N. C.
BESSIE WADE,
Hickorv, N. C.
JAMES CAMP,
Citv
JOE L- CLEMENTS,
>E L
Vioa
Vidalia, Ga.
Highway Dept.
Issues Warnings
To 13,000 Drivers
Business and industry will end |
up on the short end of legislation
unless leaders of those activities
make their voices heard in the
halls of Congress, was the con
census of leaders at the confer
ence of Chamber of Commerce
leaders in Atlanta this week-end.
Laurens county was represent
ed at the meeting by George Mas
sey, Clinton Chamber of Com
merce managep ,and Bill Hogan,
owner of radio station WLBG.
Mr. Hogan is also a director of
the Laurens Chamber of Com
merce.
More than 400 Chamber and
business leaders from 68 com-
Lpiunities in six southeastern
states heard speakers, panel dis
cussion leaders and National
Chamber personnel say that un
less the voice of business’ is
heard through contact with con
gressmen and senators, the na
tional expenditures and tax rate
will not be cut in the near future.
‘Congressmen and senators
need and want the advice and
suggestions of businessmen either
in the form of letters, telegrams
or personal contact ■ concerning
laws proposed,” Arch Booth, ex
ecutive vice-president of the
Chamber of Commerce of the
United States in Washington, tolu
the audience of businessmen.
Mr. Both said the battle is be
tween free entreprise and a con
trolled economy for our country
and using a quote from Patrick
HtAy, said, "Why stand we here
idle?" Time and again, the
businessmen were as'ked by the
leaders their ideas concerning
the p>ostal department deficit, the
size of the budget presented Con
gress by the President, a budget
which is the largest peacetime
budget in history, and the status
of federal or-private controlled
power, atomic energy and school
construction.
Quoting Edmund Burke, Ar
thur (Red) Mobley, publisher of
Parade Magazine, said the . “only
way for evil to triumph is for
good rtien to do nothing,” and he
admonished his audience to make
their views known by studying
the issues and informing their
icpresentatives of their views.
Dr. E. P. Schmidt, National
chamber economist^ said there is
no sign of a depression “because
the voters have voted out a de
pression of serious nature,” mean
ing that governmental action will
be taken to prevent a depression.
He said 195T should be the best
business year in history, although
there is likely to be recession in
certain areas or parts of the econ
omy.
J. H. Carmichael, southastern
area vice-president of the Na
tional chamber, painted the
southeastern states as the fast
est growing region of the country
and said it is likely to continue to
be. He said citizens of this area
have extra influence on legisla
tive matters because of their fa
vored position for representatives
in Congress.
The National Chamber, which
has as members 2,328,000 busi
nessmen, was pictured as the
voice of business in the United
States.
Annual Meeting
Methodist W. S. C. S.
The seventeenth annual meet
ing of t h e Woman’s Society of
Christian Service of the South
Carolina conference, Southeast
ern Jurisdiction, of the Methodist
church, will meet March 14 and
15 at St. John’s Methodist church,
Anderson, with Anderson and
Greenville districts as hosts. St.
John’s is situated very near the
center of the city at 515 South
McDuffie street on the corner of
the 200 block of East River street,
which is on highways 178 and 76.
The session will begin at 10:00
a. m., March 14, and continue at
1:00 p. m. on March 15. The eve
ning session will be open to all
young people who can attend, as
well as adults.
Lunch will be served at the
church on Thursday, March 14. It
will be necessary to make reser
vations for this lunch by sending
SI.00 with name and address to
Mrs. W. C. Bolt, 743 Marshall
Ave., Anderson, before March 6.
This is important as there will be
no lynches available at the
church except those reserved in
advance.
This applies to both delegates
and visitors
—^
Church Women To
Have Joint Meeting
The Women of the Church and
Men of the Church of the First
Presbyterian church will have a
joint supper-meeting Monday eve
ning, February 25 at 7:30 in con
nection with Foreign Missions. Dr.
William G. Neville will be guest
speaker. Dinner will be $1.00 per
plate. Call the church office for
reservations.
Bank-finance
your new car
and
# When you pay for your new car with •
bank loan, it is possible to save $75 to $150
on the cost of financing and insurance. For
bank rates are reasonable. There are no hid
den "handling” charges. And you select your
own insurance company or agent
With a bank auto loan, you are free to
shop for the best trade-in, for the exact make
and model car you want. The monthly pay!,
merits can be arranged to fit comfortably into
your budget, and you can take lip to 3 years
to repay. See the bank before you buy — no
red tape, and the service is prompt.
1-
3 c c Interest Paid
on Savings Accounts
u. s. minis sm.Az.
ESTABLISH
N 18 8 6
rfia*'* \JjLf ([m
CAPITAL AND SURPLUS S62!
MEMBER - FEDERAL DEPOSIT INSURANCE
CORPORATION
The South Carolina Highway
patrol issued 13,704 warnings to
motorists during January for vio
lation of traffic laws, bringing
the total for the first seven
months of the fiscal year to 90.-
069, the highway deparment re
ported.
Cases were made against 8,360
traffic law violators in January.
Bonds posted with county and
city clerks during the month to
taled $184,522.75. Since July 1,
1956, traffic law violators have
posted $1,314,398.45.
Defective or improper lights on
vehicles brought 6,189 warnings
to motorists during January. Ex
ceeding posted speed and driving
too fast for conditions numbered
1,144. Warnings were issued to
LI58 pedestrians who were walk
ing or ’ crossing at dangerous
places on the highway.
AT PATROL SCHOOL
Friends of Robert J. McCrary,
of this city, will be interested to
know he left this week for eight
weeks training at the South Caro
lina Highway Patrol School at
the University orf South Carolina,
Columbia.
His family will continue to re
side here in the Hays apartments
until he completes his training
and is assigned.
BROTHERHOOD TO MEET
The First Baptist Church Broth
erhood will meet Thursday, Feb
ruary 21 at 7:30 in the Fellowship
Hall. Guest speaker for the occa
sion will be John Farmer, direc
tor of the South Carolina Broth
erhood work, according to the
program chairman, Dr. .Fra
Caston
F^ik
YOUR A
BROkmW,
L PROGRAM
♦
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I
Last Day
Feb. 21
aOth Century*Po> pr*»«nt«
TOM EWELL'
JAYNE MANSFIELD
EDMOND (TBRIEN
JULIE LONDON
RAY ANTHONY
HENRY JONES
V
Monday-Tuesday
Feb. 25-26
THE
Girl
Cant
Keep It
GnemaScoP£
COMM toy M LUXB
Friday-Saturday —— Feb. 22-23
Rock - Rock - Rock
THE KING OF ROCK ’N RQLL —ALAN FREED
Also Frankie Lymon. Lavern Baker, and Chuck Berrv
COMEDY CARTOON
I—ROCK HtDSON In " '
•••BATTLE HYMN"
■ Sasn
Hayt
ave .ir' 1
LEV <
Kirk
id Douglas
zing a
Top Secret Affair’’
wnnwi r parrik BROS « r«**«*.m
tortmlptoUUto MCJUft-iU’JOa ytluK
■iaum xan
tlCMTHI
Wednesday-Thursday Feb.27-28
f*
Charlton anne
HESTON-BAXTER
GILBERT TOM
ROLAND-WON
IKIIIIttl HHII
Ml ELMIC StfHTCM
T~ t^hWWMm-bMhugaMMir
1<~M, X INKS (DMM (Ml
IECHN COLON*
CALL 538
For Concrete
Blocks and
Ready Mix
Ready-Mix Ready For Delivery From the.
% Smallest to largest Construction Jobs
Pipe
Steel Sash
Septic Tank Tops
Sand
Stone
Cement
CALL US FOR SERVICE AND QUALITY
t & L CONCRETE Co.
Canton, S. C. W. Carolina Ave.
IT S TIME TO CHECK
YOUR NEEDS
About this time of the year we have many calls for
rush printing orders. People call us and say they
have just run out of this or that and need “state
ments by in the morning at the latest.”
Of course we are glad to help them over these
tight spots .. . but we would like to point out that
we can save customers many dollars and do a bet
ter job of printing if we get your orders well in
advance. This also insures your having the forms
and statements you need for your business when
you need them. We suggest you—
CHECK YOUR
JOB PRINTING
NEEDS THIS WEEK
And let us have your order. In that way you'll be
sure of having your printing when you need it. We
appreciate your business and are always anxious
to serve you better. Your doing this in the next
few days can help us do a better job. Won’t you (or
have your employees) check your needs and give
us your order now?
JOB PRINTING DEPT.
CHRONICLE PUBLISHING CO.
Job Printing Of All Kinds
Phone 74 Clinton, S. C.
AMERICAN SECURITY
INVESTMENT COMPANY <
A South Carolina Corporation
OFFERS
500,000 Shares’Common Stock of $2.00
par value offered to residents of
South Carolina only
These securities have not been approved or disapproved by
the United States Securities and Exchange Commission, nor
has the Commission passed upon the accuracy or adequacy of
this prospectus. Any representation to the contrary is a crim
inal offense.
Price to Public
Sales
Commissions
Net Proceeds
. to Company
Per Share
$ 3.00
- $
0.30
$ 2.70
Total
— 4=:
1,500,000.00
$
150,000.00
1,350,000.00
MANAGEMENT
The Officers and Directors of the American Security Com
pany are as follows:
W. HENRY B. SIMPSON, President and Director: President,
Be Ik-Simpson Department Stores, Greenville, S. C.; Director
Southeastern Fund.
SOLOMON BLATT, JR., Director and Vice President: At-
toiney, Blatt and Fales, Barnwell, S. C. *'
CHARLES D. GREEN, Chairman of Board of Directors:
Vice President, Reeves Brothers, Inc., Spartanburg, S. C..
BLAKE P. GARRETT, Vice Chairman of Board of Directors:
Pres., Garrett, Wenok & Garrett, Inc., of North and South Car
olina; Pres. Mobilehome Dealers Association of S. C.; Director
Ft. Inn Savings & Loan, Co-owner, Home-Owned Supermar
kets, Ninety Six, S. C.
ROBERT B. KAY, Secretary and Treasurer: Attorney,
Fountain Inn, S. C.
GEORGE P. WENCK. Director; President, Citizens Bank,
Fountain Inn, S. C.; Secretary, Garrett, Wenck & Garrett, Inc.;
Fountain Inn, S. C.; President, Fountain Inn Milling Company,
Fountain Inn, S. C.
WILLIAM R. TIMMONS, JR., Director: Vice President,
Canal Insurance Company; President, Central Realty Com
pany, Greenville, S. C.
’DAVID A. GEER, Director; Vice Pjiesident and General
Manager, Geer Drug Company, Spartanburg, S. C.
CLARENCE F. BROWN, Director: President, Anderson
Hardware Company, Anderson, S. C.; Director First National
Bank, Anderson, S. C.
; SHELTON J. RIMER, Director; President, Rimer, Inc.,
Greenville, S. C. and Augusta, Ga.; President, Federal Invest
ment Company. Greenville, S. C.
CHARLES E. SIMONS. JR., Director and General Counsel;
Partner Lybrand, Simons & Smith, Attorneys, Aiken, S. C.;
Director, Aiken Federal Savings & Loan Association, Aiken,
S. C.
ROBERT E. McNAIR. Director; Partner, MdNair & Lawton,
Attorneys, Allendale, S. C.; Chairman, Judiciary Committee,
South Carolina House of Representatives.
DR. F. A. KENNEDY, Director; Physician; Chief of Medical
Staff, Aiken County Hospital, Aiken, S. C.; Advisory Director,
State Bank & Trust Company, Aiken, S. C.; Director, North
Augusta Banking-Co., North Augusta. S. C.
HENRY P. WILLIMON,-Director; Attorney, Greenville, S. C.
J. WILTON STEWART, Director; President, Stewart Suprply
Cqjpipany, Greenville, S. C..
WILLIAM L. RHODES, JR.. Director; Attorney, Hampton,
S. C.; Chairman, Ways & Means Committee, South Carolina
House of Representatives.
JULIUS B. NESS, Director; Partner, Kearse A Ness, Attor
neys, Bamberg, S. C.; State Senator, Bamberg County; Former
Chairman, South Carolina Highway Commission.
*,
FINANCING MOBILE HOMES;
Although a mobile home costs considerably less than a sta
tionary one, its ipurchase represents a sizeable financial under
taking for the average individual. Down payments usually arc
one-fourth to one-third of the sale price, with the balance fi
nanced over three to five years. The amount of this mobile
home financing is growing steadily. It is estimated that at the
start of 1955 the amount of mobile home paper outstanding was
about $500,000,000.00, and that by the end of 1956 this total will
exceed $650,000,000.00.
Surveys of banks and finance companies demonstrate that
this paper is sound, and in some cases is their chief source of
revenue. Ninety-eight per cent of Banks responding to the
latest annual survey reported their experience with this type
of loan was excellent or good; 2 per cent reported it as “fair.”
Ninety-six per cent stated that in their experience mobile home
loans are as good or better than automobile loans. Ninety-eight
per cent said they had experienced no losses with mobile home
paper. Two per cent reported losses of less than one-fourth of
one per cent. This record is a testimonial to the soundness of
mobile home paper; the mobile home owner as a good credit
risk and a responsible citizen.
•(Two wholly owned subsidiarys). *
NEW SOUTH INVESTMENT COMPANY
MAIN STREET I
FOUNTAIN INN, S. C.
ORGANIZATION
The New South Investment Company was incorporated un
der the laws of the State of South Carolina on the 6th day of
*July, 1955,. This Company was organized for the punpose of in
vesting in sales contract financing, specializing in the field of
mobile home financing
t ORGANIZATION
| New Frontier Life Insurance Company is to be a wholly
owned subsidiary of American Security Investment Company
and will have its principal office at Aiken, South Carolina.
NATURE OF BUSINESS
' New Frontier Life Insurance Company will write all forms
of Ordinary life insurance, including Whqle Life, limited pay
ment life, Endowment^ Retirement Jlncome and term. It will
issue both participating and non-participating policies. It will
also write group, hospitalization, credit and health and accident
" insurance. Business will be solicited by agents of the Company
who will be paid on a oemmission basis.
j CALL OR CONTACT
RobertD. Deaton - J. Marvin Smith
Special Agents of the Corporation
i (At Offices of Wolfe and Addison)
’ Insurance and Investment Building
200 North Broad St. Clinton, S. C.
I PHONE 610 or 609