The Clinton chronicle. (Clinton, S.C.) 1901-current, June 08, 1961, Image 4
4
THB CLINTON CHRONICLE
Thnradajr, June 8, 1961
Welcome To Our
New Industrial Unit
Announcement was made in the last issue
of The Chronicle that the big new industrial
plant nearing completion in the Clinton area,
heretofore known as C B Metals, Inc., is a
unit of The Torrington Company of Connec
ticut.
Effective July 1, it will operate as The
Clinton Bearings Plant of The Torrington
Company.
That is good news, indeed, for The Tor
rington Company is one of the country’s
leaders in its field, with plants in the United
States, Canada, England, Germany and Italy.
Its U. S. plants are in Connecticut, Massa
chusetts, Indiana, and South Carolina. In
addition, the company has sales offices and
warehouses in 27 other states.
So, it is not a fly-by-mght concern, and
neither k it a shoe-string operation.
Chilton and Laurens County people are
delighted that this business giant has be
come a part of this community, and we wel
come them with all the sincerity of which we
are capable. We hope their operations in this
area wiH be successful beyond their fondest
expectations.
One thing is certain: Clinton people have
made up their minds to contribute in any way
they can to the well-being of thk company.
And we are sure we apeak for them we say
that we hope as the years go by that a real
bond of fellowship, based on admiration and
respect, will develop between us and our new
citizens.
We thank The Torrington Company for se
lecting Clinton as the site for this newest
unit in their organization.
Civil Defense—
Is It Worth The Cort?
According to a news report from Washing
ton during the past week, “the House ap
propriations committee, taking its usual dim
view of civil defense spending,” chopped mil
lions from President Kennedy’s request for
that purpose.
Cut out were appropriations for building
fall-out shelters in all new federal buildings
and some old ones.
Also, announced last week was the ap
pointment of a civil defense director for
Laurens County—at a salary of $4,800 a year.
And this writer takes a dim view of that.
For until shelters are built and equipped
to house most or all of the population of this
country in the event of attack, other expen
ditures are useless. For most of us will not
be here from that moment on.
The cost of building adequate shelters in
every city, town and hamlet in this country
will reach such staggering figures that it is
simply out of the question.
And the sooner we quit this policy of
“playing civil defense” the better off we will
M.
Big Future In It!
take a page from Premier Castro's book and
offer to ransom some of their prisoners at
appropriate prices; we suggest two tanks for
20 Hungarian Freedom Fighters; 10 anti
aircraft units for 100 Chinese intellectuals
now in slave labor camps; 10 jet bombers for
160 American GI’s captured during the Ko
rean War and still unaccounted for by the
Communists; etc.
“Accordingly, we have organized Ransom,
Inc., .as a dynamic response to an old prob
lem, which will bring American know-how
and efficiency to the field of international
blackmail.”
Now that submission to Communkt black
mail has become semi-unofficial national pol
icy, far-sighted Americans are tooling up to
make a big-time operation of at!
William F. Buckley, Jr., editor of National
Review, Henry Haztitt, author and column
ist and Marvin Liebman, New York public
relations executive, have announced forma
tion of Ransom, Inc., which plans a perma
nent, revolving fund of half a billion dollars
($500,000 million, you know), for the swift
accommodation of future Communist blade-
mail demands. They are applying, they said,
to the Internal Revenue Service for imme
diate tax exemptioh and are confident of
President Kennedy’s full cooperation.
The founders of Ransom, Inc., expressed
amazement at the prompt and enthusiastic
response of Preeident Kennedy and his ‘Citi
zens’ Committee’ (Mrs. Franklin D. Roose
velt, Dr. Milton Eisenhower and Mr. Walter
Reuther) to Prime Minister Fidel Castro’s
generous blackmail offer to exchange pris
oners for tractors. But they recognize the
need for Ransom, Inc., as a continuing opera
tion that will solicit funds from the public
day and night, year in and year out, piling
up and holding the cash from one Commu
nist blackmail offer to the next.
The vision of Messrs. Buckley, Hazktt and
Liebman practically outdoes the New Fron
tier as their statement concludes: ‘The rul
ers of the Kremlin and Peiping will surely
The "Isms” have been defined in this fash
ion: Socialism: If you have two cows, give
one to your neighbor. Communism: If you
have two cows, the government takes the
cow and gives you some of the milk. Capi
talism: If you have two cows, you sell one
and buy a bull.
B&bson Dscusses
Electric Utility Securities
Babson Park, Mass., June 8—At one time elec-
trict light and power stocks were as popular as
electronic stocks are today. The favorite was Elec
tric Bond & Share, which shot way up in the stock
market boom of the 1920's and then plummeted
down to practically nothing. There were so many
similar cases that President Roosevelt had Con
gress pass legislation to take the "water" out of
these stocks and dissolve electric utility holding
companies.
WHY SECURITIES AND
EXCHANGE COMMISSION
It was at this time that the Securities and Ex
change Commission was formed, with President
Kennedy’s father as chairman. And it was as a
'result of this house-cleaning that
Electric & Bond Share dropped
almost out of sight! In fact, in
stead of a "stock dividend” there
was a “reverse split” which forc
ed slock owners’ shareholdings
virtually out of existence. I fear
that the present exaggerated
craze over "electronics” may
later run into similar troubles
for' some of the companies.
Electric light and power stocks
have since become both safe and
popular. This has been due to the growth in pop
ulation and also to the numerous new uses for
electricity in every home, store, and factory.
Furthermore, such public plants as the Tennes
see Valley Authority’s and the semi-publicly own
ed plants of the Northwest have served to keep
rates from becoming too high and hence retard
ing growth. Electric rates are the lowest in his
tory and consumption per family has increased
eight times. I believe that much more growth is
ahead with the greatly expanded use of electricity
for beating and air conditioning.
FIRST MORTGAGE BONDS
AND PREFERREDS
The safest electric utility securities for the
small or large investor to buy today are the first
mortgage bonds of an electric light and power
company. Your local bank will be glad to select
such a bond for you. You should get a yield of
about 4Vi%. You must, of course, pay regular
taxes on the income from the bonds and for other
securities of an electric company (with a few
exceptions).
In addition to the bonds, most electric com
panies issue both preferred and common stock.
The preferred stock carries a fixed dividend, if
earned, which usually yields over 5%. Be sure
that any preferred which you buy is "cumulative
and, if possible, “non-callable.” A cumulative
stock means that if the dividend is not paid in any
year, it must be made up and surely paid before
the common stockholders get a penny. “Non-
calable” means that the company cannot call in
the stock and pay you off for it if money rates go
down. A "callable’’ preferred is a case of "beads
or tails”—with the odds in favor of the company.
If the stock is "callable" and money rates go
down, the company pays you off; but if money
rates go up, the company leaves you "bolding the
bag,” so to speak.
ELECTRIC UTILITY COMMON STOCKS
If you are young and patient, the best invest
ment may be in the common stock of an electric
power company. This has no fixed or cumulative
dividend; but you are entitled to all the earnings
(less proper reserves) after the fixed interest is
paid on the bonds and the accumulated interest is
paid on the preferred stock. Such common stocks
are “growth” stocks. They do not yield much in
come when you buy them; but the income should
increase every year with the growth of the popu
lation and the prosperity of the country.
There is an exception to all rules, and it may
now be too early to sell and take your profits on
electronic stocks and re-invest in electric power
stocks. Much depends upon the international situ
ation. The chief present customer of the electronic
companies is the U. S. Government. Electronic
devices are an important part of every missile,
and hence of our defense expenditures. But this
wild spending race cannot continue forever. Eith
er some form of international disarmament must
come about, or else World War HI will come.
Although there would develop thousands of new
uses for electronics under a peace regime; yet
in the meantime there could be a terrific drop in
many now popular electronic stocks.
ANNE BAKER
Graduating at Limestone Col
lege on June 4, Miss Ann Baker
received a B. S. degree in bi
ology and will leave Friday for
Winston-Salem, N. C., to enter
the school of Medical Technol
ogy at Bowman-Gray.
While at Limestone she was
a member of Chi Beta Phi,
science fraternity; Pi Beta Sig
ma, social sorority, the choir
and the music club. She was
also active in Westminster Fel
lowship.
Miss Baker is the daughter
of Professor and Mrs. Kenneth
N. Baker.
Hurricane News
Of The Week
Misses Sallie and Mary Fran
ces Nabors visited Mrs. Guy
Smith Saturday evening.
Mr. and Mrs. W. D. Bishop and
children visited the former’s fath
er, H. F. Bishop, and sister, Miss
Alice Bishop, near Cross Hill Sat
urday evening.
Mr. and Mrs. H. A. Copeland
visited Mr. and Mrs. Hugh Mor
gan and family in Laurens Sun
day.
Carol Ann Young and Kay
Caldwell spent Sunday night with
their grandmother, Mrs. Willie
Young.
Those enjoying an outdoor pic
nic at the home of Mr. and Mrs.
Charles Young on Sunday eve
ning were: Tory Campbell, Max
le and Ann Davis, Melda Satter
field, Jorja Simpson, Henry
Clark, and Alton West of Lau
rens.
Mr. and Mrs. J. W. Caldwell
and Vicki, Mr. and Mrs. T. E.
Watts and children, Miss Julia
Watts of Mountville, and Mrs.
Mace Young visited Mrs. Willie
Young Sunday.
Mr. and Mrs. J. W. Caldwell
and Vicki visited Mr. and Mrs.
Carl King and family in Easley
CLINTON, S. C., THURSDAY, JUNE S, 1M1
3 lie (Elintan (Clprnntrlr
ISM
July 4, UM — WILLIAM WILSON HARRIS - June U, DM
PUBLISHED EVERY THURSDAY BY THE CHRONICLE PUBLISHING COMPANY
Subscription Rate (Payable to Advance) ...'.. One Year $3.00, Six Mouths $2.00
Out-of-County One Yaar $4 00
Second Clam Postage Paid at Clinton, S. C.
wil at aU times
to not
Mr. and Mrs. James Young
spent a few days last week with
the formers’ parents, Mr. and
Mrs. Clyde Young.
Mrs. Bobby Neighbors and
children spent Saturday in Bre
vard, N. C , with her parents,
Mr. and Mrs. O. R. Willingham
Mr. and Mrs. Bachman Bishop
of Cross HOI, and James Grain
ier of Laurens, were Sunday visi
tors of the W. D. Bishops.
Mrs. N. H. Nabors is spending
some time with her daughter,
Mrs. J. R. Holland, Jr., in Char
lotte, N. C.
Dr. and Mrs., Mac Going are
at home after a five-day stay at
the beach.
Mrs. B. J. Lawrence and Steve
of Greenville, are spending some
time with the former’s parents,
Mr. and Mrs. J. O. Haupfear.
Mr. and Mrs. Jimmy Eubanks
and daughter of Joanna, visited
Mrs. Eubanks’ parents, Mr. and
Mrs. J. O. Haupfear, Sunday.
Mr. and Mrs. J. O. Haupfear
were Thursday visitors in Green
ville.
Mr. and Mrs. Jimmy Kirby
and children of Greenville, visit
ed Mr. and Mrs. Dillard Young
and children Sunday.
Mrs. John Ferguson and Mrs.
Mid Bannister of Newberry, vis
ited Mr. and Mrs. Mason Simp
son Sunday.
Mr. and Mrs. Carroll Young
were in Greenville last Tuesday
on business.
Mr. and Mrs. W. T. Scogin vis
ited Mrs. John Minick at the
Newbei+y County hospital Sun
day.
Mr. and Mrs. Hershel Lawson
and daughters and Victor Lawson
were Sunday dinner guests of Mr
and Mrs. Ralph Lawson.
Mrs. Jess Truett of Thomas-
ville, N. C., spent the week-end
with Mrs. George Lawson.
Mr. and Mrs. Eddie Craven
and David visited Mr. and-Mrs
Ralph Simmons Saturday and
Sunday. They enjoyed a trip to
Greenwood State Park.
BIRTHDAY CELEBRATION
On Sunday, June 4, Mrs. Ran
dall Branson honored her son,
Danny, with a birthday dinner.
Those enjoying the occasion
«: Mr. and Mrs. Tommy
Kitchens of Whitmire; Ray
Buster Wilson of Clinton. Danny
was 11 yean old on May $1.
PREPARATION DAY
The Hurricane Baptist Church
will hold preparation day for the
vacation Bible school Friday,
June 0, at 10:00 a. m. The
will begin Monday, June 12, and
run through the 10th. The
will be g.SO to 11:10 a. m.
All boys and girls, ages three
through sixteen, of the common
ity are urged to attend. Mrs. W,
P. Gastley is principal. Hot. J.
H. Derr is pastor of the
Clinton Canliers
Divide Two Games
Clinton broke up a tie game
with a run in the 0th to trim
Berkeley’s legaue-leading Spin
ners, 9-8, here last Thursday
night in a Western Carolina
League game.
The victory pushed Clinton
within a half game of Berkeley's
leaders.
Kinard Littleton tripled with
one out and scored on Roy MiH-
wood's sacrifice fly.
Melvin Bailey, working in re
lief, got the win. Lefty BUI Hold
en suffered the Berkeley los.
Littleton paced the Cavaliers
with a perfect night in five trips.
DUNEAN DOWNS CLINTON
Consecutive home runs by Jim
Branham, WUey Williams and
Gerald Reese set off the fireworks
in a three-run second inning and
Duncan’s Dynamos were never
headed in downing Clinton’s Cav
aliers, 7-4, here Friday night.
BiU Achie and Kinard Little
ton hit home runs for the losing
Clinton team.
Doug Turner, Furman star of
this season, picked up the win in
his debut with Dunean, spacing
six hits. Roy MiUwood, CUnton
reUef hurler, was the loser.
Dr. K. Nolon Carter
Joins VanderbHt
Focuty For Summer
Dr. K. Nolon Carter, profes
sor of chemistry at Presbyterian
College, left CUnton earlier this
week to join the summer school
faculty of Vanderbilt University.
Dr. Carter, who has served at
PC for the past ten years, has
taught in two previous summer
sessions at Vanderbilt. He will
remain in NashviUe for the 11-
week period of the summer school
and return with his family in
time to resume his regular du
ties at Presbyterian College next
fall.
The PC professor wiU teach his
specialty, organic chemistry, at
Vanderbilt.
Lt. Col. McCrary
Retires From Air Force
Lt. Col. Ryan McCrary, a na
tive of this city, has been retired
from the Air Force after 20 yearn
service.
The son of the late Mr. and
Mrs. R. J. McCrary, he was
graduated from Clemson, served
in the army for one year before
joining the air force. He served
as a pilot during World War II
and saw overseas service in Ger
many and later in the Caribbean
area.
He and his family are residing
in Columbia.
ED PITTS
Ed Pitts, son of Mrs. P. M.
Pitts and the late Mr. Pitts of
this city was graduated from
the University of Sooth Caro
lina with a B. S. degree in edu-
cation.
At the University, he was a
member of Sigma Chi frater
nity, the Block C Club of which
he was vice president 1858-80
session. As member of the foot
ball team, he served as co
captain in 1959; made all-state
and AU-AUantie Coast Confer
ence ’5S-’58; co-captain of the
North-Sooth Shrine Bowl game
in Miami in 1958. He was cho
sen U. S. C. most vahmbie
player in 1858.
He plans to return to Caro
lina to complete requirements
for a degree In business admin
istration.
Visit In Germony,
Tour Europe, Engtond
Miss Agnes Davis and niece,
Miss Jane Ann Davis, leave today
for New York and wiU sail the
11th aboard the SS Hanseatic for
Germany.
They wiU be met at Regens
burg by their nephew and broth
er, Lt. T. R. Davis, Jr., and
Mrs. Davis and wiU spend some
time with them at their home in
Straubing. in the southern part
of Germany. With Lt. and Mrs.
Davis they plan to tour Norway,
Sweden, Switzerland, Holland, It
aly, and Fr mce.
On July 31 they wiU go to Lon
don and subsequently tour Eng
land Scotland. They will return
home on August 8.
CREDITORS’ NOTICE
All persons having claims
aganist the estate of John Lloyd
Adair, deceased are hereby noti
fied to file the same duly verifi
ed, with the undersigned, and
those "indebted to said estate will
please make payment likewise.
Edith Lott Adair
Executive
May 19, 1961
Cub Seoul Olympics
HeM Last Tuesday
The Cub Scout Olympics fea
tured the annual picnic of Cub
Scout Pack 21 last Tuesday at
the American Legion playground.
Cubmaster Gary Lehn, den
mothers, other mothers and fath
ers of the young scouts were on
hand to see that the members
of the pack had a big time.
Track events and other contests
initiated the outing, followed by
a bountiful picnic hinch.
Winners of the events wen:
Football throw, Jim Johnson;
discus throw, Billy May; three-
1 legged race, EUls Davenport and
Jimmy Bedenbaugh; 75-yard
dash, George Frady; 225-yard re
lay, Frady, Bedenbaugh and
Davenport; wheelbarrow race,
Jack Ferguson and Billy Simp
son; running broad jump. George
Copeland; broad jump (standing
start), Davenport; sack race,
Fraday; den mother walk, Mrs.
Ethel Farnell; fatlwr’s sack race,
Phil Rogers. A .tug-of-war be
tween mothers and Cubs, and
fathers and den chiefs, was won
by the mothers and cubs.
Let us help put your family
in a home of their own!
{Kiariat your family in a house is fun...
bat tbs real pleasure is having a home of
year own. We can help you achieve this
goal. If baying or buildings home is close
to pear heart, why not set now}
• CITIZENS ©
FEDERAL SAVINGS
. AND LOAN ASSOCIATION
220 W. MAIN ST.
CLINTON. 8. C.
Member Federal Home Loan Bank S>
PUB. OO.
Vote Tuesday, June 13
FOR
William C. Dobbins. Jr.
FOR
House of
Representatives
An Experienced Legislator
Having Served Two Previous Terms In The
General Assembly
IF ELECTED:
I will put forth every Effort in the promotion of
growth and progrcee of Laurens County in the field of
education, agriculture, industrial development and bus
iness in general.
I will cooperate in every way possible with the de
partments of county and city government, helping these
departments to give the best possible service to the citi
zens of our county.
I will strive diligently to work in harmony with the
other members of the delegation for the achievement of
those things that are in the best interest of our county
as a whole.
I will serve the people — not attempt to dictate.
I am not obligated to any group, clique or faction;
therefore, my hands are not tied. I can and I will rep
resent all of Laurens County, showing partiality to no
section or group.
I will always work for the beet interest of the tax
payer and will oppose all unnecessary tax increases.
I am opposed to and will fight any attempt to in
crease telephone rates to eliminate long distance charg
es on calls made from one part of the county to another.
It is my opinion that those who make these calls should
pay, and not the public as a whole.
equal school facilities for both
m in the public
I wiU support equal school facititk
but will fight any attempt to mix the
scbohls of S. C.
I pledge to the voters of Laurens County an admin-
istrstjofrof nerfannoibctt and Hot
YOUR SUPPORT AND INFLUENCE WILL EE
SINCERELY APPRECIATED! •