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1 I THE CLINTON CHRONICLE ThonMny. M»j 24, '1M2 Squeeze On Profits Referring to problems faced by business, Augustus C. Long, Chairman of the Board of Texaco, Inc., says: “In recent years the ability of business to operate profitably has been severely handicapped by oppressive taxation and by unrealistic ’ depreciation rates, by inflationary wage and benefits de mands, and by government pressure and in tervention. “This squeeze on profits is one of the basic obstacles to the recovery and growth of our whole economic system. Profits not only enable corporations to pay a reasonable return to their owners, but also to expand, replace inefficient equipment, employ more people —yes, even pay more taxes.” Mr. Long believes a “complete about- face in the attitude of the public and govern ment toward business iri this country” is necessary. “The feeling,” says he, “seems to be getting pretty deep-rooted that every thing business does is wrong. “Our country is the greatest nation on earth because of the American way of life, which is the free enterprise system. Busi nessmen are largely responsible for our growth and greatness. We must protect that system, and in doing so industry as well as labor must be treated fairly.” It’s Past Time The taxpayers who now shell out better than 30 per cent of their income to various levels of government, much of it going to pay for “benefits”—most of which should be tended to by the individual or at the local government level—should have every pos sible reason to kick at further needless growth of government. The federal budget director has said that no one should be surprised to see the annual budget hit the $100 billion mark— we don’t have far to go. A good part of the increase will continue to be for welfare state schemes which have nothing to do with essential governmental functions or na tional defense. Time To Learn The Flag? The uproar over the “Liberal Papers”, advocating surrender to the Reds on every front, is justified, not so much by their content as by the fact that they were spon sored by 36 members of Congress. That they are Democrats is less significant than the fact that they are members of Congress, the body that has always been regarded by the common man as his shield against the ambitions, caprices, and failures of the Ex ecutive Branch and the ever-expanding bu reaucracy through which it operates. Ordinary people who have not yet con quered a love for their country (once re garded as a virtue) begin to mistrust the meaning of words when they read: “As the cold war continues, it becomes difficult for decent Americans, humane enough to prefer peace to egocentric national honor, to be out spokenly and genuinely anti-Communist.” They are threatened with nausea to learn that we should invite Russia to “plug in” on onr Distant Early Warning Kne of radar sentries in the Arctic; not merely rec ognize Red China but give Quemoy, Matsu and the Pescadores to Mao and invite him to take Nationalist China’s seat in the Secur ity Council; umlataraDy abandon atomic tasting and open up our defenses to UN monitors; recognize East Germany and real ize that West Berlin is only a “moral lia bility” unsupported by law. And if such quaint Americans are puz zled that there has been no denunciation of the Liberal Papers from the White House, they shouldn’t be. Not after release last September of “Department of State Publica tion 7277” and formal submission to the UN of this three-stage plan to scrap our weap ons, military rockets, planes and ships and disband the US Army, Navy and Air Force —except for those elements turned over to the UN “Peace Force”! There can be little doubt that both of these blueprints for surrender sprang from the same fuzzy heads and that the Liberal Papers are but a free-wheeling endorsement and embellishment of the official State De partment proposal. Their common root is the “Better red than dead” philosophy. But we should like to ask the 35 Congressmen, by what fatuous reasoning are they assured there will be such a choice T In any case, their political demise should be made certain in November: Florence, Ala., Herald: “Actually our founding fathers had some things down pretty pat. They believed that after the divinity of God nothing is so sacred as the dignity of the individual . . . They didn’t believe in Communism, Fascism or Social ism. They believed in the free enterprise and the equalizing system of profit and loss as opposed to totalitarian regimentation.” Sykesville, Pa., Post-Dispatch: “The old er generation has to raise its standards be fore we can expect too much of the younger generation.” “A government bureau is where the tax- yer’s shirt is kept.”—Anonymous. Babson Discusses “Gambling” Babson Park, Mass., May 24—A recent weekly column of mine has created considerable criti cism. My point was that both “speculating" and placing funds for safety and income can make “big money.” What I stressed was the danger of attempting to mix the two forms of invest ment.” WHAT IS GAMBLING? I am not referring to horse or dog racing— not be “betting” of any kind; but rather to buying into new ideas, new discoveries, and new scientific develop ments. In short, I would think that 80% of your stockholdings might be in dividend-paying is sues quoted in your daily paper; and 20% in companies working (Mi new scientific developments. To make “big money” you should subscribe to magazines like Scientific American or my favorite, the “Technology Re view,” put out by the Massachusetts Institute of Technology of Cambridge, Mass. There are col umns entitled '‘Trend of Affairs” which are es pecially helpful to a layman. I repeat, "big mon ey” comes from “gambling”; and successful gambling comes from successful forecastlBf. WHAT ABOUT DRUG STOCKS The best way is to make friends of scientists and chemists and share your profit with them. They know about the wonderful new discoveries on the horizon—such as light rays—fuel cells— harnessing gravity—and bacteria. Invite such professors for lunch; beware of timid brokers and bankers who are always advising caution. Successful drug companies are the big gam blers. Therefore you can invest in these compan ies and let them gamble for youf They are now all watching for a cancer cure. Some one of them will find the vaccine to prevent the “com mon cold,” another will discover the bacteria which will help young people mentally. What has been done for smallpox, diphtheria and polio, can be done for almost everything else. Just look beak a few short years and see what has already been accomplished. Over two-thirds of the prescriptions which you and your neighbors take to the druggist this year will be for drugs and antibiotics that were not in existence at the end of World War II. But what I want to “shout about” is tomorrow. The ethical drug industry last year spent over $214 million for research; that was four times larger than just 10 short years ago; and the amount spent annually by the drug companies has doubled since 1966. To morrow’s big profit “killings” lie hidden in this mass of research! DON’T SELECT ANY ONE DRUG COMPANY To my knowledge there are a dozen or more companies who are gambling the above large sums on research. Let me mention these: Ab bott Laboratories, Lily (Ell) Company, Pfizer (Chas.) A Co., Parke Davis A Co., Lederie (Di vision of American Cyanamid), E. H. Squibb (Division of Olin Mathieson), Smith, Kline A French Laboratories, Inc., Searle (G. D.) A Co., Sobering Carp., Richerdson-Merrell, Inc., Merck A Co., Inc., and Sharpe A Dohme. It is impos sible to know who will win the “big money”; but any reader who prefers not to “gamble” for him self can buy ten shares of each of the above com panies. But if you omit one, the one you omit could be the winner. WAKE UP! LOOK TO FUTURE EARNINGS, NOT ONLY TO PAST EARNINGS! The great discovery may not come from the human brain alone; but from the very earth upon which you are now walking, or from the cobwebs in your attic, or the bacteria in your cesspool, or form anywhere in the world—a wilderness in Bor neo, a plantation in Brazil, a ranch in Kansas, a backyard in the U. S. A. From such places come thousands of soil samples that are sent to the drug research laboratories. By using new bacteria from these samples, they try to create antibiotics to combat the infectious diseases still rampant. For example, in one year, drug scientists iso lated and worked with 34,000 cultures of microor ganisms. With these, they produced a few anti biotics which came exicitingly close to making “big money,” but none made the grade. Perhaps 34,000 to 0 seems like poor odds, but twice in re cent years research work has beaten these odds. Wake up! The whole thought arouses me emo tionally. We know what has happened during the past 50 years; well, I believe an equal number of wonderful things will happen in the next fifty. A handful of earth may save your life and it may come from Russia, China, or India. Clinton Seniors / Have Class Day Class day was held at Clinton High School Friday. The class history was given by Alice Cunningham. Bobby Hamer gave the class prophecy, and the class will was presented by Clark Surratt. Elaine Boyce gave the class poem. Announcements and presenta tions of awards was made by R E. Martin, assistantp rincipal. Amelia Nichols was presented the Phi Beta Kappa certificate of commendation in recognition of the high scholastic attain ment. The DAR Good Citizen cer tificate and medal was present ed to Harriet Wilson Harriet, Brenda Fallaw, Judy Laney and Sandra Dunaway were presented diplomas award ed by the National Guild of Piano Teachers, for their techni cal skill in artistic piano play ing. < The Danforth Foundation, “I Dare You Books,” were present ed to Judy Bedenbaugh and Clark Surratt. David Pitts was recipient of a Bausch and Lomb Honorary Science Award in recognition of outstanding academic achieve ment, good character, and su perior intellectual promise in the field of Science. The Betty Crocker of Tomor row award went to Harriet Wil son. Seniors who have done credi table work on the Sentinel (the school paper) and the Clintonian (annual) were awarded an Old English “C” emblem and are qualified to wear the Old Eng lish “C” on their class rings. They are: Amelia Nichols, Su san Workman, Linda Boland, Alice Cunningham, Sandra Dun away, Harriet Wilson, Clark Surratt, Kenneth Johnson, Em ily Davis, Grace Orr, Bunky Blalock, Josephine Reeder, Billy Pitts and Jimmie Furr. Pickens Youth Is Jailed Second Time In Book Theft Case Pickens—A Pickens youth was jailed for the second time on three boxes of valuable books stolen from the Presbyterian College library turned up Friday in a trash pile near Pickens. William Angus Kincaid Aiken, 19, former libray assistant at the Clinton college, was arrested at his home here Saturday, offi cers said, and charged with housebreaking and larceny in the case. Aiken at the time of his ar rest was free on bond in a similar case in which be i* Charged with stealing two valu able volumes on Carolina his tory and selling them in Wash ington, D. C., for $700. A St. Petersburg, Fla., youth, 20-year-old William W. Johnson, a fellow student of Aiken’s be fore both left school, is charged with grand larceny in the same case. Both the two history volumes and the approximately 60 vol umes discovered Friday were reported missing by Presbyte rian College authorities in mid- March. Deputy Sheriff John Ross stumbled on the books Friday afternoon as he searched for a liquor still in the Nine Times community s i x miles above Pickens. Officers said Aiken’s name had been stamped in the fronts of the books. The books, all pub lished around 100 or 150 years ago, have suffered badly from the elements, investigators said. Their value was put between $600 and $1,000. One of the books is a biogra phy of John C. Calhoun, pub lished in 1843. All were from the rare book section of the college library. College officials told of ficers that Aiken as a library ii1 " '» assistant had access to the rare book cage. Aiken officially left Prsebyte- rian of his own volition on March 26. A Washington book dealer, Nada Kramer, told offi cers there she bought the set entitled “A Natural History of Carolina,” published between 1731 and 1743, from Aiken on March 17. Authorities said Aiken signed a confession to taking the < vol umes, known as the “Catesby Set,” but Saturday denied any knowledge of the books found in the trash dump. Register Hampton Ave. First (traders The Parent-Teacher Associa tion of Hampton Avenue School will sponsor a pre-chool registra tion for students entering the first grade of that school in the fall. The registration will begin at 9 o’clock Monday May 29. The children must be — panied by at least one parent and have their birth certificates. No pre-school clinic will be held but vaccinations may be obtain ed at the Health Center on Wood- row Street Tuesday mornings 10- 12 or Thursday afternoons 2-4:90. Graduates Want JEWELRY WE HAVE WHAT YOUR FAVORITE GRADUATE WANTS RINGS - DIAMONDS PEARLS - BIRTHSTONES WATCHES - PENDANTS BRACELETS - NECKLACES CHINA - CRYSTAL - SILVER LET US HELP YOU MAKE YOUR SELECTION WITH CONFIDENCE DILLARD BOLAND JEWELER CLINTON, S. C., THURSDAY, MAY *4, 1962 r Iljp Clinton Cijronirlp Established 1900 July 4, 1889 - WILLIAM WILSON HARRIS — Jane IS, 1955 PUBLISHED EVERY THURSDAY BY THE CHRONICLE PUBLISHING 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 — the publisher will at all times appreciate wise suggestions and kindly advice. The Chronicle will publish 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. 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