The Clinton chronicle. (Clinton, S.C.) 1901-current, May 03, 1962, Image 2
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THE CLINTON CHRONICLE
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Mar *> IMS
More Training •-
Centers Approved
Four more schools designed to provide
South Carolina workers with the skills re
quired for employment in new industrial
plants being built all over the state were
approved last week by the State Committee
for Technical Education.
This action brings to eight the number
of technical education centers approved for
the state.
New schools have been approved for
Richland County, Sumter County, Ander-
son-Oconee-Pickens Counties, and Charles-
ton-Berkeley-Dorchester Counties.
Previous approval for centers has been
received by Spartanburg, Lancaster, Flor-
ence-Darlington, and Greenville Counties.
The building for the Greenville center is now
under construction and the long-range train
ing program is expected to begin there Sep
tember 1, which will be the first in the
state.
The Clinton area will be served by a
school expected to be built in Greenwood
for the Laurens-Greenwood-Abbeville area
(probably including two or three other coun
ties), for which approval has not yet been
given because of lack of action on the part
of legislative delegations in the various
counties.
about to pass a law which says that when a
taxpayer’s interests are directly involved he
can make his views known to legislators but
not to the public. In other words, he can
talk to the former without penalty, but not
the latter. This is nothing less than censor
ship by taxation.
This is an issue that strikes at the right
of a citizen to petition his government. It
restricts freedom of speech and a free press.
According to the Chamber of Commerce
of the United States, our government spend
ing has grown so vast that in a 15-month
period it would be sufficient to buy up ev
erything that Soviet Russia produced in one
year, including financing the Russian armed
forces and all their missile work.
Babson Says One Half
Of Buyers of Stocks
Make Mistakes
I .■ II I i...I——I- .. ..I.!
Babson Park., Fla., May One-half of the
buyers of the stocks on the New York Stock Ex
change buy when they should sell; and sell when
they should buy. This is because there cannot be
a seller without a buyer; or there cannot be a
buyer without a seller.
The building for each of the centers will
cost approximately a half million dollars,
which will be constructed by the local areas,
and the state will supply equipment and in
structors.
Each center will be fully equipped to re
ceive instruction over the state’s education
television system during evening hours.
Training courses will vary in length up to
four years, and it is anticipated some 22,000
student workers will eventually be improv
ing their skills in perhaps a dozen such cen
ters.
The committee also has 19 special schools
underway in 16 communities. These were
set up on a temporary basis to provide spe
cific skills required by incoming industries.
South Carolina is enjoying a boom in
construction of industrial plants and the new
schools are being established to furnish a
reservoir of trained workers to man these
plants.
Since this state was not an industrial-
minded area until recent years, newly-estab
lished industries were faced with a lack of
skilled workers and practically all of them
have had to institute their own training pro
grams in order to get work forces.
These schools will be a boon to the
many young people in the state who do not
go to college after graduating from high
school or who drop out before graduating.
They need training in the many skills now
being required by the growing number of
industries in the state.
Several other states, especially North
Carolina, already have such training centers
in operation. South Carolina, if it is to
continue to attract industries, must see to
it that a reservoir of trained workers is
available.
EVEN BANKERS ARE SOMETIME DUPED
I once knew a Massachusetts bank director
who founded a successful machinery company
which is now listed on the New York Stock Ex
change. He was a very generous man and pro
vided a four-acre golf club in New Hampshire for
his friends and summer resi
dents. Many fine homes were
built there and are now occu
pied in the summer by very
prominent people. In Boston fi
nancial circles this man’s opin
ion on investments was given
serious consideration.
When this well-known man
died, he left two sealed trunks
in his attic. One contained Rus
sian rubles and the other Ger
man marks. He left a note stating that he had
paid nearly $2,000,000 for this foreign money. As
he had always been very kind to his neghbors
they took up a collection to pay his debts; his
young wife (a second wife) went to work.
HOW TO LOSE |45,IM,Mi
A man known world wide in utility circles had
a winter home at Mountain Lake. Florida, near
where I am writing my column this week. He had
a chair and desk which the present generous
owners of his late home gave to Webber College.
This famous man was written up in the maga
zines during the 1920’s as ‘’America’s Richest
Man.” Well, he told me shortly before he died:
”1 made $50,000,000 sitting in that chair in 1926-
28; then I lost $45,000,000 in 1929-30, sitting in the
same chair.” He did his business by telephone;
never wrote a letter.
1 give the above illustrations not to criticize
anyone/ During my fifty years of active life I
have never met any man (or woman, except Het
ty Green) who would claim never to have lost
money speculating. The lesson, however, which
I want to drive home to readers is the importance
of knowing when to stop. The time to retire from
the stock market is when things look good and
your friends are all bullish, and you are “walk
ing on air.” That is the time to stop. What this
stock market will do before 1962 is over no one
knows; but I do earnestly advise that you sell
enough and take profits enough to pay up all
you owe.
Censorship By Taxation
The 1962 tax bill, now before the Sen
ate, would authorize deduction from income
tax of ordinary expenses incurred in bring
ing to legislators information of direct in
terest to the taxpayer.
This is a needed clarific&iton of the law.
It would, for example, allow a businessman
tax deductions for expenses involved in op
posing legislation that would damage or de
stroy his business.
However, it limits his appeal and advice
to telling his story to legislative committees
or legislators. It shuts him off from telling
his story to the public—or if he does, he will
be taxed on the cost of doing so.
Why the public should be shut off from
information that can be freely made to leg
islators is hard to fathom.
Various groups of editors and publishers,
including the American Newspaper Publish
ers Association, have urged the Senate Fi
nance Committee to broaden this provision
of the tax bill allowing such tax deductions
for appeals made directly to the public by
affected taxpayers on legislative matters
either before legislative bodies or; before
the voting public which acts as a legislature
of its own in referendums.
It is hard to believe that Congress is
CORPORATION OFFICIALS TAKE NOTICE
This is an era when corporations are making
foolish “splits.” After you receive a stock divi
dend you original stock, plus the new stock, is
worth no more than before. Yet the price goes
up even on the rumor that such a stock dividend
will be paid. Since the Securities and Exchange
Commission has been organized, many men with
money have refused to be directors of corpora
tions. The officers are given “options” and other
incentives to compensate for the risks they are
taking.
Surely nothing could have prevented the two
men described above from losing their money.
Furthermore, I could give many other similar il
lustrations. These men had economic education,
robust health, honest intentions, and were as good
men as any reader of this column.
SECURITIES AND EXCHANGE REGULATIONS
I fully approve all the steps being taken to
make stocks and bonds safer for investors to buy.
I advise my clients to co-operate with the SEC.
But no laws can eliminate speculation. It is an
instinct which seems inherent from birth, and
endures through education, marriage, and to
death. People will bet on horse races if they can
not bet on Wall Street. Furthermore, if it had
not been for this instinct, Columbus would not
have discovered America; yes, and the Pilgrims
would never have landed at Plymouth Rock.
I believe in the Regulation Statements which
the SEC requires to be prepared, printed, and
distributed to prospective stock buyers; but there
is no way of compelling these prospects to read
them. Moreover, they are quite a burden to
young and growing companies, as the cost of law
yers and accountants fees, plus printing, amounts
to from $25,000 to $50,000. It is even more im
portant that small investors read the annual re
ports and proxy statements which every stock
holder receives free—once a year.
CLINTON, S. C., THURSDAY, MAY », 1962
01l]p (Elinlmt GUprottirlr
Established 19M
'July 4, 1889 — WILLIAM WILSON HARRIS — June 12, 1955
PUBLISHED EVERY THURSDAY BY THE CHRONICLE PUBLISHING COMPANY
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•Mitral Interest when they are not of a defamatory nature. Anonymous communications will not
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Member: South Carolina Press Association, National Editorial Association
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AMERICAN PRESS ASSOCIATION New York, Chicago, Detroit, Philadelphia
Around Clinton High
By JEAN ARNOLD
Things hidden and things to
come are dominating the minds
of the Juniors and Seniors. The
Juniors have been viewed dash
ing around the school with odd
shaped boxes and bags as they
continue to decorate for the
Junior-Senior Banquet The
theme, which usually remains
secret until the dance, is car
ried out in decorations, menu,
and entertainment. As advisor to
the Class officers and Juniors,
Mrs. Harry Bouknight directs
plans for the Junior-Senior Ban
quet.
• * •
Senior barefoot day has been
scheduled for Monday, May 7.
This is a day of fun and frolic
for the Seniors when they are
not so dignified. Various and sun
dry outfits are worn for this oc
casion.
• * *
*
The Transportation Club held
its regular monthly meeting at
the high school on Monday night.
The club members named Patri
cia Duncan as Transportation
Club Sweetheart. Jimmie Furr
was runner-up. The members al
so voted on the bus-driver
awards, which will be announced
at the Transportation Club Ban
quet on May 29. Winners in the
dub rodeo held last week in the
school parking lot were Kenneth
Johnson, first; Bruce Morgan,
second; and Julia Watts, third
place.
• • *
Prior to previews from the
Senior play in chapel, last Fri
day morning, Mrs. R. P. Wilder
and Miss June Adair were
awarded gifts from the play cast
for their assistance in the pro
duction. From all indications the
play was a big success.
• » •
Mr. Ralph Tedards was guest
speaker at the Future Business
Leaders of America Club meet
ing on Monday night. He present
ed an interesting talk on require
ments for office girls. This prov
ed to be of particular interest to
the shorthand and typing stu
dents.
• * •
Mr. Robert M. Vance presented
the Mercer Silas Bailey Founda
tion Scholarships to this year’s
winners in chapel on Tuesday
mroning. Misses Sandra Duna
way and Alice Cunningham were
the recipients of the awards. Con
gratulations • Alice and Sandra.
IF YOU DON’T MW-An
THE CHRONICLE
YOU DON’T GET THE NEWS
PHONE 832-9641
Kptobfrry, Ryj*
Carpets cleaned
in your own home
tbs “flower fresh"
w*y
k* do mcMy soaking.
• ao harsh scrubbing
far free estimate call
ilttalei
W. J. DUNLAP, Jr.
Phone OR-91586
Greenwood, S. C.
'MOAWRi
PriT’’.
MON.-TUES. MAY 7-8
STARTS WEDNESDAY
MAY 9
TROOP 90’S CABIN-CABOOSE
Lydia Scout Cabin-Caboose 'Open House'
The Lydia Boy Scout Troop
Cabin-Caboose will be officially
dedicated at special ceremonies
on the site Tuesday, May 8, at
10:90 a. m.
The Providence School student
body and local kindergarten
students will be special guests
for the dedication and open
house to lolfow.
Rev. Roscoe Bryan, of the
Bartee To Head
Kappa Alpha Order
Bill Bartee of Atlanta, has
been elected to lead the Presby
terian College chapter of Kappa
Alpha Order for the coming year.
Two other rising seniors who
will assist him as top officers
are: Joe Harvard of Columbia,
Number Two; and Bill Bryan of
Bainbridge, Ga., Number Three.
Other new Kappa Alpha offi
cers include: Harold Hope of Un
ion, Number Four; P. W. Good-
wyn of Petersburg, Va., Number
Five; Henry Gordon of Danville,
Va., Number Six; Bill Neely of
Midland, Texas, Number Seven;
Bill Shearer of Macon, Ga., Num
ber Eight and Inter-Fraternity
Council representative; and Tom
my Williams of Pensacola, Fla.,
Number Nine.
Lydia Pentecostal Holiness
Church, will offer the dedica
tory prayer.
J. B. Templeton, vice-presi
dent of the mills and member
of the Blue Ridge Council of
Boy Scouts, will clip the ribbons
to officially open the new recre
ational facility for the youth of
the community.
The retired caboose of the now
non-existent Tallulah Falls Rail
road was recently reconditioned
and located on the Poplar Street
site for the Boy Scouts and Cub
Scouts of the community.
Jimmie Braswell, atheltic di
rector, ia scoutmaster of the
19-member troop.
DAVENPORT PROMOTED
Thomas E. Davenport, son of
Mr. and Mrs. T. J. Davenport of
Kinards has been promoted to
the rank of First Lieutenant with
the U. S. Army at Fort Bliss,
Texas.
A 1960 graduate of Clemson
with a BS in mechanical engine
ering Lt. Davenport was with
General Electrict of Charlotte be
fore entering service. His wife,
the former Miss Frances Cun
ningham, and young son, Tom
my, are with him in Texas.
YARBOROUGH STUDIO
and CAMERA SHOP
Corner Musgrove and Pitta St.
Cameras — Film* — Photo Finishing
Underwood-Ofivetti Calculators and Adding
Machines
Underwood Standard and Electric
Typewriters
EXPERT SERVICE ON ALL MAKES OF
BUSINESS MACHINES
L & L OFFICE SUPPLY CO.
128 E. Laurens Street Phone 92781
Laurens, S. C.
Mister PART-icular says...
LOTS OF "CAsvE-KOW” IN YOUR
FORD DEALER’S
SERVICE FORMULA!
■ I'*—- ■ »
You expect specialized Ford service ’’know-how”
when you bring your car to a Ford Dealer.
That’s our stock in trade! But ne* service cus
tomers quickly discover their work is done with
"care-how” too. Ttiat’s why they keep coming
back. Our service experts am proud of their
skill. They care how your work is done. They
care about quality, and use only Genuine Ford
Parts. They keep your Ford otf Ford. Come in
t the next time you need service. See for yourself.
*•»*•*•
QUALITY CARE FOR QUALITY CARS!
BALDWIN
N.BmdSL
TOR CO„ Inc.
Cttatea, S. C.
-
Pearson Serving
At Base in Spain
Charles A. Pearson, commis
sary man first class, USN, son
of Mr. and Mrs. L. H. Pearson
of 143 Bluford St., Clinton, is
serving at the joint Spanish-
American Naval Base at Rota,
Spain.
The base at^Rota, locate^ os
the Bay of Cadiz, is 129 mdse
from Hie British fortress at Gi
braltar and is a principal supply
point for ships and aircraft of
the Sixth Fleet.
liluv Nile Diamonds HIDerent TVr»trh*?»
Billions of dollars annually in financing are providsd by
Insured Savings and Loss Associations to build new
homes. This money pays all kinds of construction work
ers ... makes business for the builders, the buflding
materials dealers, the hardware dealers. It creates jobs
In hundreds of factories which manufacture materials
such as glass, hardware, appliances...
and for those who supply the raw mate
rials. Dollars put into your savings ac
counts at our Association benefit the
satire community.
Citizens Federal
Saviags & Loan Association
220 W. Main St Clinton, S. C.
Your
mOAMRi
Program
We Specialize in Family Entertainment
Today-Frklay-Saturday May 3-4-5
It’s a Laugh Riot and Great Entertainment For The
Whole Family!
— :
t
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3-5-7-9 p. m.
Start 1HM *
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