The Clinton chronicle. (Clinton, S.C.) 1901-current, May 17, 1962, Image 2
«
THE CLINTON CHRONICLE
Thursday, May 17, 1H2
s Economy Closely lied to
the Cotton i Industry
The prosperity of South Carolina, both
from the standpoints of growing and manu
facturing, is tied closely to that of the cot
ton industry. A prosperous cotton indus
try, furthermore, from the field to the looms,
is important to the economic health of our
country.
Although cotton suffered competitive
losses in 1961, the industry has some “prov
en evidence of strength” upon which it can
draw in making plans for the future.
These, according to the chief economist
of the National Cotton Council, are: (1) cot
ton’s long-time performance in the domestic
market, (2) an expanding market overseas,
and (3) the fact that the United States se
riously needs to foster exports.
Dr. M. K. Horne, Jr., Memphis, notes
that in the five years from 1956 to 1960 cot
ton began holding its own against the entire
field of competing fibers and materials and
that this was something that had never hap
pened before.
“Nothing happened in 1961,” he em
phasizes, “to indicate that we cannot restore
and continue this record of rising competi
tive strength.”
The world economy, he explains, is grow
ing, is industrializing, and cotton is the lead
ing material of its biggest industry. West
ern Europe, where relatively little cotton is
grown, is “taking bold new steps to go on to
much higher economic levels by the stimulus
of a common market.”
The United States, he observes, now has
the great problem of defending its currency
and therefore must encourage exports. In
most years, cotton is the biggest single ex
port commodity. Cotton earned $937 mil
lion in foreign exchange in the fiscal year
ending June 30, 1961, and $826 million in
the preceding year.
“In the over-all struggle for a balance of
international payments, which will check
the outflow of gold and the threat to the dol
lar, these export sales of nearly a billion dol
lars a year are vital.”
Value of the U. S. Cotton crop at the
A Happy Season
Approaches
TO tax Ttar
in South Carolina accounted for $73,392,000
of this.
In dollar value, cotton lint and seed ac
counted for 20 per cent of the total farm
marketings of South Carolina.
In addition to the growing and market
ing of cotton, there is the huge textile manu
facturing empire in South Carolina. The
329 textile plants in the state furnish jobs
for 130,000 employees, with a total payroll
well in excess of $400,000,000 annually.
Textile plants in South Carolina account
for approximately one-third of the manu
facturing capacity of all such plants in the
United States, with 6,632,051 spindles in
place.
And Clinton and Laurens County rank
well in the forefront in any record of textile
investment, number of employees, and
amount of payrolls.
In observance of National Cotton Week,
is is well to think on these things.
Babson Says Some
Railroad Slocks Attractive
jchooi District
|f m as §_ r s*,!
nos phhc resnvai
The next three weeks will be a busy,
happy time in Clinton—with its commence
ment season in full swing.
Clinton certainly has more than its
share of such events, and the period is al
ways greeted with enthusiasm by students,
parents, relatives, friends, school officials
and teachers.
Clinton High, Thomwell, Bell Street
High and Presbyterian College—all will take
their turn in the commencement schedule.
These events go to make up an extreme
ly exciting period for Clinton residents.
Antipathy
Toward Wetfariam
“Keep government out of education . . .
Keep presidential power to a minimum . . .
Get out of socialism!”
That sums up the view of an overwhelm
ing majority of the editors of the nation’s
smaller newspapers, as revealed in a survey
recently conducted by The American Press.
Typical of the general antipathy of editors
toward the whole idea of “welfarism” is
perhaps best exemplified in the matter of
proposals to increase social security pay
ments to help provide for the hospital needs
of people over 65 years of age. Seventy-
eight per cent of the editors were opposed to
further government intervention. By con
trast, 84 per cent of Hie editors expressed
preference for a voluntary non-governmen
tal plan to meet the medical needs of the
aged—such as is now being completed by
the Blue Shield, Blue Cross and the Ameri
can Medical Association.
Judging by the comments of many of the
editors as quoted by American Press, expan
sion of government in the medical care field
was opposed for the same reason that edi
tors oppose government interference in oth
er fields—a deep abiding fear of big govern
ment and socialism.
farm level in 1960 amounted to almost $2.4
billion. The more than 45,000 cotton farms
Babson Park, Mass., May 17—Investors are
like Bocks of sheep. They run all together and
blindly follow a leader. It was not many years
ago that investors were enthusiastic about rail-
.road stocks; now they are dumping such stocks
indiscriminately. They are putting their money
into armament stocks that are largely depend
ent upon government contracts which must come
toward an end.
IMPORTANCE OF DIVERSIFICATION
The wise investor will not only diversify
among many industries—railroad, chemical, oil,
gas, and public utilities, etc.,
but should keep his investments
fluid and remember that each
classification is growing either
better or worse. Hence a few
airplane stocks are advisable;
and a few shipping stocks. Cer
tainly Greyhound should not be
forgotten. But don't have too
much invested in any form of
transportation.
Without doubt the passenger
business of railroads is coming to a virtual end,
except where subsidized by the government. Short
lines should be avoided; also lines subject to a se
vere water competition. Certain of the rich rail.
roads, such as the Union Pacific, are still adver
tising passenger business; but they are paying
for the loss from their passenger business by their
oil, gas, and other mineral investments along the
right of way which they own.
BIANT MORE MERGERS ARE AHEAD
This is because if the automobiles and good
roads had come before the railroads, only about
a third of the present railroad mileage would
have been built. It is one thing to argue in favor
of mergers, and it is another thing to reason with
labor. Labor appears to have no regard for the
nation’s welfare.
The basic reason why investors should be shy
of railroad investments is because of the attitude
and power of labor. It is not only necessary to
eliminate “featherbedding,” which everyone, ex
cept the politicians, believe to be wrong; but la
bor insists on dictating as to mergers, passenger
rates, pullman equipment, and even train sched
ules.
BANGOR A AROOSTOOK EXPERIMENT
1 believe the most forward-looking railroad
president in the country Is W. Gordon Robertson,
head of the Bangor A Aroostook Railroad, which
runs from northern Maine southerly to tidewater.
It once prospered greatly by hauling wood and
pulp, and later newsprint. It also prospered from
the great potato industry of Northern Maine
President Robertson realized that he must have
the most efficient rolling stock to make a profit
during the season when this freight was hauled,
but he also devised a plan of renting the road’s
most modern diesel engines in the off seasons.
Even under the most efficient operation, his
railroad could not compete with trucks. He there
fore turned to a very original plan: He organized
the Bangor A Aroostook Corporation, which owns
90% of the stock of the railroad company. This
new corporation, however, is able to carry on
any kind of business which shows a profit. An in
vestor can keep his old Bangor A Aroostook Rail
road stock is he desires, or he can exchange It for
the stock of the new business corporation. I be
lieve President Robertson will make a success of
his new corporation and many other railroads
will follow his example.
THE KANSAS CITY SOUTHERN PROGRAM
The Kansas City Southern Railway also has a
progressive forward-looking president, W. N. De
ramus, who operates this road efficiently noth-
withstanding water competition. However, he
has now come to the same conclusion, and has
formed a separate corporation — Kansas City
Southern Industries, Inc.—which will be able to do
anything from running supermarkets to operat
ing oil wells along the line of the Kansas City
Railroad. Too many railroad stockholders have
forgotten the great value of the right-of-way and
adjoining property.
Stockholders of the K. C. Railroad are to be
given the opportunity of exchanging their stock
for stock of the new corporation.
The
RHh—g DfUjfct go Ihuic Festival
was held in the I ffTT—** Central
Etamantary 8c9mm1 Auditorium
on May 1, at S:M p.m.
The following participated fat
the event: Laurens Central
School Chorus, Laurens High
School Glee Club, Hickory Tav
ern High School Glee Club, Gray
Court-Owings High School Glee
ClUb, and Ford High School
Chorus.
Each group sang several songs,
and at the end of the program
four selections wore sung by all
the choruses combined.
The groups were accompanied
by Missse Jerrie Hawkins and
Sharon Cain, and were under the
direction of Miss Dale Sox, Mrs.
Lila Hindrix, and .John J. Hind
man.
Homecoming Sunday
At Friendship Church
Revival services are continuing
at Friendship Baptist Church,
North Broad Street, with Rev.
Odell Goode, pastor of Pleasant
View Baptist Church, Taylors, as
speaker.
Different groups of special
singers will be singing each night
with the Burns Trio, Greenville,
singing on Friday night .
Homecoming will be observed
on Sunday, May 20, with Rev.
Tom Kirk , director of Greenville
Cars Collide at
Wallace W. Bagwell of 281 Locust St., Lydia Mill,
was injured Monday afternoon. May 7, shortly before 6
p. m. when the 1962 Ford he was driving was struck by
a 1961 Ford at Hie intersection of Pine and Peachtree
Streets, Lydia. Patrolman T. G. Painter, who in
vestigated the accident, charged Ross with failure to
yield right of way. Mr. Bagwell was thrown from his
car. A passing motorist carried him to Hays hospital,
where his injuries were found to consist of lacerations
and bruises. Damage was heavy to both vehicles.—
(Photo by Jimmy Cooper).
CLINTON, S. C., THURSDAY, MAY 17, 1N2
Xljp (flintmi (Hhrmttrlr
Established 1909
July 4. 1889 — WILLIAM WILSON HARRIS — June 13, 1955
PUBLISHED EVERY THURSDAY BY THE CHRONICLE PUBUSHING COMPANY
Subscription Rate (Payable in Advance)
Out-of-County
One Year $3.00, Six Months $2.00
One Year $4.00
Second Class Postage Paid at Clinton, S. C.
The Chronicle seeks the cooperation of its subscribers and readers — Hie publisher will at
all times appreciate wise suggestions and kindly advice. The Chronicle will pubUsh 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 Carotina Press Association, National Editorial Association
National Advertising Representative
AMERICAN PRESS ASSOCIATION New York, Chicago, . Detroit, Philadelphia
^m\n\\A\
Last Day Today, May 17
Doable Feature
Two Rig
GO Ten
BROKE!
Feature: 3:10
7:<
Friday and Saturday,
May 18-19
FRI.—3:25, 5:22, 7:19, 9:10
SAT.—
1:25, 3:22, 5:19, 7:19, 9:13
CARTOON 25c and 19c
Mon.-Tues., May * 21-22
CARD OF THANKS
The family of the late Mrs
Maude Smith wish to express
their deep apperciation for the
many kindnesses shown them
during her other expressions of
sympathy will never be forgotten.
^AADWftt
NEWS
Coming up in the near future
are several outstanding pictures
for the whole family. Next week
we will have STATE FAIR,
which is “as thrilling as a roller
coaster ride and as much fun
as a barrel of monkeys.” This
stars Pat Boone, Bobby Darin,
Tom Ewell, and Pamela Tiffin.
Playing the mother is Alice
Faye, who many will remember
played the part of Margie, the
pretty farm girl in the original
which starred Will Rogers.
This will be followed by BIG
RED, Walt Disney’s great story
of a boy and a runaway dog.
This stars Walter Pldgeon, andf
introduces Gilles Payant. Also in
June will be SERGEANTS
THREE, the hilarious western
comedy, featuring Frank Sinat
ra, Dean Martin and Peter Law-
ford.
The Broadway feels a respon
sibility to leave off playing pic
tures which are sordid, depres
sing or distasteful. Sometimes
we fail in our efforts, but this
is the exception. We feel that
the pendulum is swinging to
wards producing more films
suitable for all the family. This
will be most welcome to us, but
in the meantime we shall con
tinue to be careful of what we
show on our screen.
OFFICE SUPPLIES
CHRONICLE PUB. CO.
DIAL >33-9641
the child
ren’s choir frwn Miracle
litaainn in charge of both morn
ing and afternoon services. Those
interested are invited to bring a
picnic basket and enjoy the fel-
Iwoship as well as the services.
Wednesday services b e g i n at
7:80 pan. and the Sunday serv
ices begin Sunday school 10:00—
morning worship at 11:00, after
noon service 2:80 and evening
service 7:80 p.m.
County Political
Announcements
HOUSE OF
REPRESENTATIVES
I hereby announce myself a
candidate for reelection to the
House of Representatives from
Laurens County and pledge to
abide by the rules and regula
tions of the Democratic prima
ry.
MARSHALL W. ABERCROMBIE
I hereby announce myself a
candidate for reelection to the
House of Representatives from
Laurens County and pledge to
abide by the rules and regula
tions of the Democratic pri
mary.
WILLIAM C. DOBBINS JR.
candidate for the
ty and pledge to
rules and
Democratic primary.
DAVID 8. TAYLOR
SUPERVISOR
I hereby announce myself a
candidate for Supervisor of Lau
rens County and pledge to dbide
by the rales and regulations of
the Democratic primary.
BENNIE B. BLAKELY
t >;
H hereby announce myself a
candidate for reelection as Su
pervisor of Laurens Couny and
pledge to abide by the rules and
regulations of the Democratic
primary.
FURMAN E. THOMASON
COUNTY COMMISSIONER
I hereby announce myself a
candidate for reelection as Coun
ty Commissioner of Laurens
County and pledge to abide by
the rules and regulations of the
Democratic primary.
PAUL S. O’DELL
I hereby announce myself a
candidate for reelection as
County Commissioner of Lau
rens County and pledge to abide
by the rules and regulations of
the Democratic primary.
GEORGE M. PENLAND
YARBOROUGH STUDIO
and CAMERA SHOP
Corner Muagrove and Pitts St.
Cameras — Films — Photo Finishing
Your
muAmm
Program
qI"'’
We Specialize in Family Entertainment
I mi. ■■■■■ .I—, i in ■ i .I... ' —-
Starts Wed., May 23, For 4 Days
MI BOONE * BOUT MM
PAMELA DFFINJNN4MR6RET
TOM EWELL
ALHHAYE
Suita MAin
COLOR by Qg LUXE
Not just three sizes... but three different kinds of cars... Chevrolet!
«* *M.n •
IWlHOt
Stfusthute
ii t, ' ' ■«
I
CbtmUt Irnpala Sport Sedan {/dnpnnnd)
Take your pick of 34 models daring CHEVY’S GOLDEN SALES JUBILEE
No look-alikes here! You’ve got three decidedly dv rent
kindt of cars to choose from—each with its own size and
sizzle. The Jet-smooth Chevrolet’s specialty is luxury-
just about everything you’d expect from an expensive car,
except At expense. M If you’re thinftag a hit thriftier,
then's the Chevy n with practicality to de Fm pmdt
Lots of liveliness, too, for such a lew, low price. M Got
a sporty gleam in your eye? Step right up to our Corvair
for rear-engine scamper and steering that's doggone near
effortless, ■ Conclusion: See your Chevrolet dealer now
for the most versatile choke going and a
beauty of abRy to your favorite.
Beautiful Bump Dau$ an hen at wur baft aiUkorited CheurnU AwW.
!
<
CLINTON, a C.
PLAXICO CHEVROLET, Inc
809 W. MAIN 8T. TELEPHONE h#|-4HM0
\
v