The Clinton chronicle. (Clinton, S.C.) 1901-current, August 06, 1959, Image 8
THE CLINTON CHRONICLE
«, i»s»
THIS WEEK IN
WASHINGTON
By Clinton Davidson
CRASH PROTFCTION
Some State Department officials
ere think Russia’s toutfh attitude at
»e Geneva conference is based on
»e long-time Soviet expectation that
le U. S eventually uRl be destroy-
d as a result of a collapse of our
conomy.
The Kremlin is said to believe that
ueh an economic crash would'be
allowed by the Communists and
their fellow travelers taking ever
the government. Russia Mill doesn’t
believe America’! phenomenal pros
perity can last
Russia's prediction of a financial
catastrophe has failed to materialize
but the Reds are right on one thing—
America can be destroyed by finan-
I cial failure Just as completely as by
bombs, planes and missiles.
It is just as important that ve
| maintain a sound and expanding fi
nancial structure as it is that we
have a strong national defense. Sen
ator Warren Magnuson. with whom
we discussed this, stressed that “full
employment and prosperity cannot
exist vitheut a sound and expanding
financial system."
THE IMPORTANCE OF SEC
Our economy is baaed on the pri
vate enterprise capitalistic system.
Thai means, simply, the use of mon
ey to expand job opportunities for
more iwople In some industries
£50,000 must be invested in plants
and equipment for each employee.
The Securities and Exchange Com
mission is the government agency
that supervises and regulates the
machinery which provides our com
merce and industry with capital.
When a company decides Ip expand,
build additional plants and employ
it often
the need
ed captial by aeUlng Its aharee or Ka
bonds to the public This moat be
done under regulations of the SEC
One writer has called the SEC
wr Civt YOU FAST “CIRCLE SERVICE" when you drive in for gasoline.
Wc circle the car a# we fill your tank, cleaning windows, checking tires,
cleaning headlights, cheeking radiat< r. battery, oil. etc. That’s part of the
erfr* measure of service we re trained to give you And for top perfonnaaes
you get national!) preferred Texaco quality products. Const in!
H. D. Payne & Co,
< I IN TUN * C. ItewlrtRwIos I M€»M ftlt
The Investor’s Watchdog,” and an
other '’Uncle Sam's financial police
force” Our financial operations
have had an unprecedented growth
for several years and it needs a
growing SEC staff just as any rap
idly expanding community must in
crease its police force
Rep Albert Thomas, chairman of
the House Appropriations sub-com
mittee for independent agencies, of
which SEC is one. told us he be
lieves “it is essential that the SEC
be adequately staffed ... to provide
the protection to which American
investors are entitled' 'and to assist
in obtaining the capital it must have
in order to operate with maximum
efficiency.
“The SEC,” Thomas said, ”is an
indispensable agency operating in
ihe public interest. I have a very
high regard for the officials of SEC.
I believe we have provided funds for
an adequate staff.’
EXPANDING NEED
As an example of the expanding
need for capital in our growing econ
omy. the registration of securities
sold to raise capital in the year end
ed June 30, 1958, totaled 908, but
during the year ended June 30, 1959,
the total reached 1,226. Also, the reg
istration of new investment compan
ies increased from 453 in the 1958 pe
riod to 512 in the past fiscal year.
The investments of these companies
have increased from $2 billion in
1940 to more than $20 billion today.
One of the most important ac
tivities of the SEC is that of pre
venting fraud artists, “con men,”
shysters and fast-talking swindlers
from perverting the honorable bus
iness of securities selling. This,
alone, will require a substantial in
crease in its staff.
As an example of the increasing
work load carried by the SEC staff,
in protecitng the public from swind
lers, the SEC referred for criminal
action in the pa*t fiscal year almost
three times as many cases as in the
previous year
•To preserve and protect our
marvelous financial ayatem.’* Sen
a lor Magnus— said “the SEC staff
m—l be uarruaard All of — dooiro
to keep rap— i deuu. but *» ran
am aflo* to M ttea t
or babble uur rbMf “
rj a,g,—l tbr kind «# a
«raab Rmtes la ‘
FINAL SETTLEMENT
Take notice teat on the Mh day
September 1, UK. I will render a
ft nail account of my acts and doings
as Administratrix of the estate of
Oliver Reynolds in the office of the
Judge of Probate of Laurens County
at 10 o'clock a. m , and os the same
day will apply for a final discharge
from my trust as Administratrix.
Any person indebted to said estate
is notified and required to make
payment on or before that date;
and all persons having claims
against said estate will present them
on or before said date, duly proven,
or be forever barred.
ESSIE LOUSE REYNOLDS,
Administratrix, ,
305 Washington St.,
Clinton, S. C.
July 19, I960 4C-A-6
SUMMONS
STATE OF SOUTH CAROLINA
COUNTY \OF LAURENS
IN THE PROBATE COURT
C. D. Childs, Administrator of the
Estate of Coleman Williams,
Petitioner
—vs—
Grade Williams, Carrie Bates, and
Cora Williams; if they be dead,
their children, heirs at law and
distributees and all persons en
titled to claim under or through
them; also all other persons un
known claiming any right, title,
estate, interest in or lien upon the
real estate described in the peti
tion herein; any unknown adults
being as a class designated, as
“John Doe,” and any unknown in
fants or persons under a disability
asra class being designated as
‘ Richard Roe,”
Respondents
TO THE RESPONDENTS ABOVE
NAMED:
YOU ARE HEREBY SUMMON
ED and required to appear at the
Court of Probate to be hokien at the
Laurens County Court House. Laur
ens, South Carolina, on the 28th day
of August. 1959. to show cause, if
any you can, why the real estate
desenbed in the petition hereto at-j
tached belonging to the Estate of
Coleman Williams, deceased, should
nut be sold by me and the proceeds
thereof paid over to the petitioner,
administrator of the Estate of Cole
man Williams, to be applied by him
to the payment of the roots of this
arts— and the pay mem of ter debts
of the rot alt of l ulemas W illiama
•Mb Ibe haloort of tee prmwdk of
•ole bemg teatrtfcled by bun sc
nirteog to ten
l«f dey «f Jofy MR
Be Well Informed
Hear
The 8:55 A. M. News
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MURRAY
DOLLAR
DAYS
\
THURSDAY - FRDAY - SATURDAY
Ladies’ New Fall
DRESSES
*
Specially Priced for Dollar Days—
Sizes 7to 24V2 - Cottons-Rayons-Silks
LADIES’
LADIES’
Blouses BRAS
$ 1
OO
Dollar Days Specials
Regular $2.00
So)id.s and Fancier
2 for $ 1 00
Sizes 32 to 40
A-B-C Cup
Ladies’ Cotton
DRESSES *2
New Fall Arrivals - All Sizes
EaR
Bags S 1
Gloves ‘I 00
%M Rtetes
Skirts'^ Price
t Mton
Slips *1
Hose 77
Si m
Shorts ‘I 00
DRESSES
Dollar Day
Ladies' Nylon
HOSE
m tee tend described is the
petition and to the notice of pen-|
deucy at action above being as A
class designated as “Richard Roe."
YOU ARE HEREBY NOTIFIED
to apply for the appointment of a
guardian ad litem to represent you
in this action within twenty (20)
days after the service of this sum
mons upon you, and if you fail ap
plication for such, appointment will
be made by the petitioner herein.
J. HEWLETTE WASSON
Probate Judge for Laurens
County, S. C.
JUSTIN A. BRIDGES
Attorney for Petitioner
Dated: July 1, IMS.
NOTICE
TO THE RESPONDENTS ABOVE
NAKED:
PLEASE TAKE NOTICE that the
original petition in this action was
Sad in the office at the Probate
Judge for Lmurvm Couaty, South
Carolina oa the 1st day of July,
I 1st Quality - New Shades
LADIES’
Panties
3 s ’i 00
Sizes 5 to 10
Regular S9c Quality
New Fall
Skirts
Ladies’ T.
Shirts *1°°
Regular $2.00 and $3.00
Ladies’ New Fall
HATS
Yetveta
ladies’ Batiste
Pajamas $ ‘l 00
Ladies’ Roll Sleeve
louses
Ladies’
Jamaica's *1 M
Murray Garber's
CLffTON. S C