The Clinton chronicle. (Clinton, S.C.) 1901-current, April 16, 1959, Image 8
THE CLINTON CHtOMCLE
April It, 19M
lories of jomouA,
HORACE B. POWELlj^
THE LITTLft BROWN CHURCH IN r
THE VALE *
Thw’s a church in the valley by the
wildwood,
No lovelier place in the dale;
No place is so dear to my childhood
As the Little brown church in the vale.
Oh, come to the church in the wildwood,
To the trees where the wild flowers
bloom;
Where the parting hymn will be chanted
We will weep by the side of the tomb.
\>
How sweet on a clear Sabbath morning
To list to the clear ringing bell;
Its tones so sweetly are calling,
0 come to the church in the vale.
From the church in the valley by the
wildwood,
Whfn the dav fades away into night,
I would fain from this spot of my child
hood
Wing my way to the mansions of light.
Chorus • •
Oh, come to the church in the wildwood,
Oh. come to the church in the vale;
No spot is so dear to my childhood
As the little brown church in the vale.
Some day, when you are traveling
through northern Iowa, near Nashua, you
can visit "the church in the wikhvood”
and. if you happen in on a Sunday mor
ning. you can attend worship in this his-
ohc little chapel.
The church was built in 1864 by a
group of Christians who formed a con
eregatioo following a revival service held
n the comnttmgy several years earlier
es were thacontinuea t
1 More below >
WASHINGTON AND
"SMALL BUSINESS"
In 4 poll conducted by the N»- |
tkonat Federation of Independent
Business of the nation's indepen
dent businessmen. 76^ favored
the bill introduced by Sen John
Sparkman to permit tax allow
ances for inventory increases.'
• e •
Perhaps this bill, more than
any one single r
m e a a n r e
would reduce!
distressed sell-[ 1
Ing. cut down
bankruptcies)
among lude<
pendent retail*]
ers and whole-1
salers.
• • o
It is a sad]
commentary c. w. Hai-dsr
on the times, but the fact re
mains that in the high level of
bankruptcies of the past few
years, many business firms have
gone to the wall which were in
a fairly healthy condition except
for one thing
OOO
That was lack of liquid cash.
0 0 0
There is an easily understand
able explanation for this.
ooo
For most businesses, there is
no practical way of keeping
books on • cask basis. Instead,
an accrual system Is used. The
bashiess is not taxed on the
amount of caok it has at the end
of the tax year, but rather on
the Increased assets in the busi
ness at the end of the year, of
which inventory Is a large part,
ooo
As an example, it is well to
consider a car dealer, although
the same principle applies to an
appliance dealer, a dry goods
merchant, or others.
ooo
So, to carry oat this iltaatra-
Uoa, at the start of hio tax year
aa aato dealer has la stock
Ild.dW worth of earn, la hio area.
Bv C WILSON HARDIR
other factors, his business to de
pressed. so that soles are low.
ooo
Yet. due to new models com
ing In during the year, or to
meet terms of a franchise agree
ment. or even due to having to
take back substantial reposses
sions. or for other ressons, at the
end of the year his inventory has
jumped from 110.000 to $30,000.
oos
Tnder the tax formula, his as
sets have Increased $J*.000, thus
this is a taxable amount.
• so
But in the meantime, all of
his cash has gone into this in- 1
ventory. Now this may be all
sound 1 merchandise, and given
the chance to work out this in
ventory at the proper times, he
can recover.'
o • •
However, tax hills demand Im
mediate cash. So he Is forced, to
cut prices to the bone to raise
cash, but sometimes this strate-
gem will not raise sufficient cash,
o o *
Thus, this business becomes
bankrupt for the lack of cash,
although as far as accountants
are concerned, including tax ac
countants. the assets of the busi
ness showed a healthy gain dur
ing the year.
• oo
It is also possible in a year of
big government spending for for
eign give aways for inflation
during the year to boost the In
ventory values for tax purposes.
0 0*
The bill introduced by Sen.
Sparkman proposes to permit
businessmen who end up a year
with increased inventories to de
duct up to $10,000 from taxable
income to offset what Is, often
tantamount to disaster.
ooo
In the long run. by prevent
ing. or at least mitigating, ruin
ous price catting to raise cash,
or bankruptcy, the
would gala la tax
der, tt to no
Claude Eugene Turner,
and Lou Am Seay
Boyce Dean Smith. Woodruff, and
Hard Ann Wruftt. Woodruff
Donald Craig Wataon, Ware
Shoal*, and Frankie LaNeile Giber!.
Ware Shoal*
John Gilbert Way, Durham. N. C.,
< RKDITOKft’
AH
the estate of
deceased are hereby
the same doty vs
undersigned, and (
he ftnt taw the
Conservation
Notes
or Lake Greenwood for $1 00
Robert Samuel White aad Carrie
Brewer White, to Stove A. Tucker
and Martha W Tucker. 1* arras
I la Sruffktown Townddp foe $20 to
*1 Never Knew What Convenience
fill I Got My Kitchen Phone”
Wat
Take a Up fnsn ml A kiuhsm
a narkei a
lo the cams
**/*«**• Ip/ C
1
e. 1*
Our Revolutionary New All-Wool Twist
Broadloom By Alexander Smith Beats AD
Others For Value!
$11.00
Son Valley Beige is the most important carpet weaving achievement in
yearn with Valor feature* that no other Twist can offer:
• texture that's uniform in appearance from everj angle.
i-directional pile eliminate* waste . . . assures Hawk** waS-tn-wal
Infi
ll'
• (Ttotoce
kind ...
• like an)?
yarns are wnven through to the back for permanent
be ent Into any angle or shape without unraveling
twist made in V. If*
leaf
I. L JONES & SONS
, G. F
I Harlan Jo*
a *idrn> Thi»
Loumis
ttatr Urro furaMad eatfWh lor
rocking their ponds. TV driimy
uni made ton Thumtoy The ftoh
were grown in the federal hatchery
at Orangeburg
While catfish are not generally
recommended for
TVy may be snpptted pend
who request that they be included
along with bluagill and bms.
3nl STRAIGHT YEAR! PLYMOUTH Y-8 WIHS
ITS CLASS IH MOBILCAS ECOHOMY RUH!
OTHERS TALK ECONOMY-
PLYMOUTH DEUVERS IT!
Other csrs have tatted economy this year. Out a Plymouth V 8 has just proved it can give better
gas mileage than Ford or Chevrolet V 8s. Plymouth did it by winning its class tor the 3rd straight
year in America's recognized competitive test for economy. Plymouth s score: jus miles per gallon.
MEfif AAf MOIULQAS ECONOMY RUN FACTS: HEM ARE WHAT THESE FACTS HEAH T9 W;
Public Records
Property Transfers
William S. Hatton and Joan A.
Hatton to John W. Moore and Marie
B. Moore, lot on Hickory St, Clin
ton, for $10 00 and other considera
tions.
Jobie Shelton to Trustees of Zion
Hill Pentecostal Holiness Church, 1
acre about one mite northwest of the
City erf Clinton for $200.00.
Julian Burton and William C.
Burton to Canal Wood Corporation,
timber on 130 acres in Laurens
Township for $10 00 and other eoo-
sidr rations
Canal Wood Corpurathm to wwt-
Co , timber an 4B6
for $37.-
■ A Plymouth V-8 has just woo its class in the Mobilgas
Economy Run for the third year In a raw. Ford and
Chavraftst both finished behind Plymouth.
■ Plymouth scored miles per gallon.
Plymouth was n Belvedere 2-door hardtoo,
equipped with standard Fury V-800 engine ami auto
matic transmission.
■ Run was sanctioned by United States Auto Club.
• As a Plymouth owner, you can expect economical
operation in everyday driving.
• Aa a Plymouth owner, you’ra d*- v : ng the ear th«t
gave better gas mileage than Fora oi Chevrolet n ;ho
1959 Mobilgas Economy Run.
• As a Plymouth owner, you can also expect top per
formance (Plymouth’s winning V-8 is the biggest stand
ard engine in its class).
Plymouth’t low prices, low upkeep, high remit ralue and proven gas economy make it the year’s
best economy buy in Us class. And Plymouth delivers the Big Difference m style, ride, perform
ance, features and comfort, too! A “Two-Mile Try-Out” trill prove it, to take yours today!
tti tu ns iinumi ..su