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V THE CLINTON CHRONICLE Pafrr Four t dhr (Elintmt (Chrnnirlp FsUbU&hrd 1999 Job 4. 1889 — WILLIAM WILSON HARRIS — Jane IS. 1955 PUBLISHED EVERY THURSDAY BY THE CHRONICLE PUBLISHING COMPANY Subscription Rate (Payable in Advance) One Year S3 00, Six Month* $2.00 Entered as Second Class Mail Matter at the Post Office at Clinton, S March 3, 1879 C., under Act of Corvgre The Chronicle seeks the cooperation of its *ub«cribers and readers—the publisher will at all times appreciate wise suggestions and kindly advice. The Chronicle 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 Interstate Route Contract Awarded For Clinton Area CLINTON, S. C„ THURSDAY, AUGUST 1958 One Day Next November "Om* day next November,” says Fortune magazine, "a Tan American Boeing 707 will soar away from New York’s Idlewild Airport on the first scheduled jet-powered trans- Atlantie flight. Its spare, swept-back wings will carry the world’s international airlines into a spectacular new phase of their brief but already spectacular history.” These jets will mark a tremendous step forward over the piston-engined planes we know. They will be larger, quieter, more com fortable in all respects. They will fly in the smooth air of enormous heights—up to 40,- (Hhi feet. They will be fantastically fast— the crossing to Paris will be made between lunch and dinner. Most important, by making it possible for more and more people to see the world, the jet age offers every prospect of a new era of international understanding. There is noth ing like bringing vast numbers of people to gether—typical people, from every’ land—to banish a destructively distorted view of the outside world. But the jet age is bound round with prob lems. Fortune’s article is entitled “Interna tional Airlines: The Great Jet Gamble.” The cost of the planes will be several times that of piston-driven equivalents. The secondary expense—maintenance, specialized personnel, longer runways, etc.—will also be great. And they must 1* flown at full or near-full load many hours a day if operating costs are to be held to an economic level. That Wage-Price Spiral In discussing the wage-price spiral and its relation to the value of the dollar, William A. .McDonnell, president of the Chamber of Commerce of the United States, said: "The exclusive emphasis on wages as a source of purcha-'ing power is a fallacy. "Wage increases affect only a part of the people while the resulting price increases af fect everyone. "For some persons, purchasing power may Iw increased, but for most persons, it is re duced " Mr McDonnell called on business and labor leader* to work toward halting the wage- prite spiral "which has teen discouraging consumer buying.” It Could Be You When you see a fire engine go roaring by, you may wonder for a second or two "can it lie headed for my house." Then you dismiss it from your mind. You might not be so com placent if the figures on fire losses wen* plat ed lie fore you in big red letters. During 1966. there were H65.56I reported fire* m communities of 2.500 or more popu lation which means that a fire started every* .*17 seconds. Alm<*st everything you own. from a house down to a dish pan. costs twice as much to day as it did a comparatively few years back. In most cases, even though you are carry- .ng double the insurance you carried 15 years ago. you would still be.out of pocket in re placing the things destroyed by fire. Your best protection is to see that every possible hazard around your property is reduced to the minimum. It is cheaper to call in an elec- tritian or furnace man to make needed re pairs and replacements than it is to call the fire department. Freedom To Advertise "Another vicious invasion of our dwind ling freedoms was chalped up last month when the Bureau of Internal Revenue took action to try to gag private industry’ from using advertising to fight government com petition.” Thus begins a long editorial in The American Press, a monthly magazine which speaks for the weekly newspapers of this country. The ruling in question was that advertis ing placed by electric utility companies, and presenting their side of the public-vs-private power controversy, could no longer be de ducted as business expense for income tax purposes. Needless to say, all the! proponents of socialized power* greeted this act with shouts of joy. The American Press also says: “We can’t think of a more American way for business to battle for its rights than to take its case to the people by the use of advertising space. Surely this is more to be desired than secret, behind-cioeed-<kwr» lobbying, which seems to be the shorwativc "It is mmr hope that the electric mmpaaies wiS aet oaly fight this rwhag ia the tax A contract for the grading, drain age and asphaltic concrete sur facing of 7.076 miles of Interstate Route 26 in Laurens and Spartan burg Counties has been awarded by the State Highway Department to Ballenger Paving Company, Green ville. The contract was announced July 29 in a letter of award from Chief Highway Commissioner Claude R McMillan. It was .based on a low bid of $1,773,574.03 submitted by the Greenville firm when bids for the work were publicly opened in ON VACATION Dr. and Mrs. W R. Turner and daughter. Susan, are spending sev eral days this week in Macon. Ga. They will return here the latter part of the week and Dr. Turnef will oc cupy the pulpit of the Second Pres byterian Church in Greenville on Sunday They will spend the coming week at the Blalock cottage at Pawley’s Island. While Dr., Turner is on vacation I the pulpit of the First Presbyterian] Church will be supplied by visiting ministers. Thursday, August 7, 1958 courts but will go’-a step further and use part of their advertising space to acquaint|Columbia June 17. the people \yith this attempt of the govern- Included in the project ment to ‘gag’ them. in the project are the grading, drainage, and surfacing fop the construction of a four-lane “Freedom to advertise is an important divided highway of the section of part of freedom of the press, and should be Route 2® extending /rom U. S. BOVE HERE Mr. and Mrs. W. A. Faulkner and Debra and Ken, formerly of Black | Mountain, N. C., are now residing i at 600 Hickory street. Mr. Faulk ner, a native of Heiderson, N. C., is] in charge of the basement floor at Belk’s. .guarded with equal care. It is, in many cases, the one vehicle through which business can ‘speak out in open meeting’.”' This goes far beyond the fight over who is to produce this country’s electricity. If a tax penalty can be used to prevent any man, any industry or any group from stating his side of a case, one of the most essential of the freedoms supposedly guaranteed by the Con stitution is on its deathbed. And government bureaus, tax weapon at the ready, will decide what can or cannot lie said in the advertising pages of our newspapers and magazines. The swift depreciation of the franc has been partly to blame for French political un rest. in the view of the president of the Chamber of Commerce of the United States, and should be a warning to this country. The franc today is worth only l-48th of its 1918 value. If the same fate should befall the dol lar. a $100 suit of clothes would sell for $8,- 400; a $100 social security check would buy two pounds of hamburger, and $100,000 in life insurance would provide board and room for a widow for about a year. Route 276 near Clinton northerly to South Carolina Route 49. When completed, Route 26 will feature full access control throughout Necessary bridge structures and in terchanges for the elimination of all intersections will be constructed under separate contracts. Sections of the route extending from a point near Columbia to near Clinton are already under contract. Lt. Sease Completes Course At Fort Sill Second Lt. Thomas M. Sease, Jr., 22, son of Mrs. Margaret Sease of Clinton, recently completed the 17-weck field artillery officer course at the Army Artillery and Missile School, Fort Sill, Okla. The course, designed for newly commissioned officers, trained Lt. Sease in the duties of a forward ob server and familiarized him with the responsibilities of a battery grade officer. He is a 1953 garduate of Clinton High Schol and a 1958 graduate of Clemson College. WITH RADIO STATION Don Williams, formerly of Tabor] City, N. C., has accepted a position as engineer with radio station WPCC. Mr. Williams is a graduate of the University of North Carolina. Mr. and Mrs. Williams and dau ghter, Donna, are residing tempo rarily at Vetville on the Presbyte- ] rian College campus. mOAMKi OheoHe Wed.-Thur. Aug. 13-14 r Into The World Beyond if Imagination Where 11 Adventure vNeyer Ends! tf A • ‘■V. *2 m Babson Discusses Stock Market Passing 500 Horton Fomily Holds Reunion ifr and Mrs. John Holland Hun- ( ter were hosts on Sunday to mem-j hers of the family of Mr and Mrs. J. W Horton (Sally Stonel for a re union and picnic dinner About 35 enjoyed the occasion, in- ] eluding the following out-of town ^ visitor*:: E W. Stone and Elbert ~ ^ r , . „ . .... . Stone, of Union. Mr and Mrs A. J. 1 Babson Park. M.s^ August /-Many investors and Tommy T an surprised at the Dow-Jones Industrial Average , or Mrs ^ Tra>lor ^ and p^ng the 500 mark I would like to give reader, „„ ( harW . s EubMkl and ch||dr , n tin* week twelve possible reason* why this ha. taken ^ Aafagu „„ lonr \| c Daniel, of rt®*'* Fort Lauderdale Fla Mr aial (II BUYING FOR INCOME' Very few are pur ^ ^ w Hlirtu _ —.' , r a tMrm price increase* but many compame* are cutting . * their dividend* It. however should be remembered that a corporation has lew tax to pay on dividend* from stocks than on interest on bond* (2) BUYING FOR PROFIT* Certain long term in vesiors may be doing this, but they are taking exrep —AdmiHMon— C hildren 25c—Adults 50c (tonal risks Any »| w ssust. of cot arse, bold bw stork for six ii onorr bcuu ng in < order to take large s profit Witbo personal tax wring a (SI BUYING FOR INFLATION HEDGE* Probably a great man. the TV 10% ot buying is Inflation wtU may come before inflation (41 BUYING FOR MUTUAL FUNDS' tnbutor* of Mutual Fuads have several every day selling Mutual buy sham m a Mutual Fund, the the fund must buy certain stocks with pus ta the aggregate, sends the market up. but what will happen to the market when you decide to sell your Mutual Funds? (Si BUYLNG FOR PENSION FUNDS' A com pan, may turn certain earnings over to a bank for a a pension fund without paying any tax on these earn tags The corporation must leave to the bank the de cision as to what stocks it will buy with this money, but usually the corporation insists that the money be invested and not kept idle <«) BUYING TO MATCH LWESTMENTS’ The presidents of some corporations may have enough of their own stocks and yet they would like to buy for their pension funds They work this by getting the president of some other corporation to buy their stocks and they, in turn, buy the other company's stock This is a dangerous habit which is constantly growing. (7) BUYING BY FOREIGN INVESTORS' The recent war scare in the Near East has caused many Europeans to send their money to New York, feeling it is safer in this country. This has been quite a factor in raising the Dow-Jones Averages. (8) BUYING BY SMALL INVESTORS? Large in vestors are patiently waiting for the market to go lower, but many small investors are now getting ‘‘itchy." The small investor has not the patience of the large investor. In fact, most small investors buy only when the market is high and sell when it is low. This causes them always to remain small investors. (9) BUYING FOR SWITCHING? This program is followed by all kinds of investors. I refer to taking profits on stocks which have gone up and replacing them with good stocks which have gone down for va rious reasons. Although as a rule the market moves all together, up or down, carrying most stocks with it, there are exceptions when good stocks go down while other good stocks are going up. (10) FEARING PROFIT TAXES? Most investors hate to pay the 25% profit tax. This tax is probably the greatest factor in pushing stocks over 500. It tends to lock up stocks that show big profits. It is dangerous to let taxes decide your investment policy. (11) BUYING ON VACATIONS' Investors will buy stocks whether or aot they are at home, as they need only to wire or write their brokers Investors, however, are loath to sell stocks when they don’t have access to their safe deposit boxes and cannot immediately make delivery (12) BUYING BY RUSSIANS' I have no evidence li baying U (1) la af IB a tat SHOP IN CLINTON DURING DOLLAR DAYS HEAR MANY S DAY VALUES ON 1410 WPCC 1410 WE PROMOTE COMMUNITY COOPERATION -• SEE OUR $ DAY SPECIALS! S1.60 Filing Guide 11.00 S1.00 Stick Tacks $ .75 4 Legal Pads $1.00 $2.00 OFF ON 4-DRAWER FILING CABINET 500 Sheets Typewriter Paper . $1.75 Masking Tape $ .75 100 Fairfield Informal* $1.75 1 TABLE GIFTS 25% OFF RIPPLE BOND 1 Box Paper-2 Pkgs. Envelopes $1 Box Letter Files . $1.00 Scrap Books-Reg. $1.00 .... $ .75 $1.00 OFF REGULAR PRICE STAPLING MACHINES 11.00 Scotch Tape 2 for $LOO CHRONICLE PUBLISHING CO. MURRAY DOLLAR DAYS THURSDAY-FRIDAY-SATURDAY Ladies’ New Fall DRESSES Special Priced for Dollar Days- Sizes 7 to 24 1 /2 Cottons-Rayons-Silks .95 LADIES’ Blouses LADIES’ BRAS $|.00 2 for *1 00 DoUar Days Specials Values to $4.00 Sizes 32 to 40 A-B-C Cup All Ladies’ Summer HATS $|.oo I-adie*’ Bags $ 1 00 Ladies* Cotton Slips ‘I 00 1 .adieu' Gloves S 1 00 l.adien* Seam lew Hose‘1 00 • Udieu Umbrellas ^*| 1 .ad tew' Shorts s t' 00 Ladies’ New Fall DRESSE S $ X 98 Dollar Day Specials - All Sizes — Also the New Look!! Ladies’ Nylon HOSE LADIES’ Panties • 00 * 1st Quality-New Shades Sizes 5 to 10 New Fall Skirts $ 5 95 Ladies’ Batiste Pajamas *1°° V One Group Dosses *3°° Ladies’ Roll Sleeve Blouses $ 1 00 Ladies’ • - Jamaica's $ T" Ladies’ Jamaica's*! 69 Murray Garber's CLINTON, S C ’