The Clinton chronicle. (Clinton, S.C.) 1901-current, May 24, 1962, Image 2
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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
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