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4 Ill*, iUNION tMliOMCLt Thursday, June 7, 1962 Clinton Loses A Good Citizen When Hugh L. Eichelberger died on Monday of last week, Clinton lost one of its most worthwhile citizens. Curtis insists that there are ways for providing medical care for older people— without adding more billions to those al ready beng spent by the federal government. Here are his alternatives: 1. Taxpayers should get a break for pay- He took the time to study Clinton's needs ** “S'P"* th ? r P arents ’ ” edi “ 1 c08te and problems and was always ready to do -u>chidm» med.ca! insurance. what he could to supply those needs and solve those problems. A successful business man, he sought nothing for himself while working for his home town. He was never more delighted 2. People should be free to choose the type of (medical) insurance that best suits their needs. * 3. More and more people are insuring themselves. Today practically all insurance than when he could do something for Clin- companies offer policies for people over 65. 4. Determine how each community now ton and its citizens. . *> His intense love for this community was the reason for seekng and serving a term as a member of city council and later a term as mayor of Clinton. Out of that service came three very important things for the city that will reflect for years to come his thought, his wisdom and his energy: A budget for the city government, a complete ly revamped and modernized electric dis tribution system, and a new and enlarged water plant. And we are sure they reflect, also, the appreciation of citizens. He rendered yeoman service elsewhere: as a coach and former member of the board of trustees of Presbyterian College, as a member and officer of his church, as for mer chairman of the district school board, as executive vice-president of the Chamber of Commerce. In the latter capacity he per formed eminently as liaison channel be tween the city and owners in the recent coming to the community of the huge five million dollar Torrington plant. Mr. Eichleberger’s family and friends have much by which to remember him. We wish we had more like him. solves its problems on providing medical care for the aged. 5. Make it easier for elderly people to pay doctors’ bills. 6. Private pension funds should be al lowed to provide medical insurance for their own members. Babson Discusses The Stock Market A Tragedy for Atlanta No city or state ever received news of the crash of an airplane with more grief than did Atlanta and Georgia last Sunday morning. The impact of the reports was to numb the sensibilities of all Atlanta people. One hundred and twenty-one members of the Atlanta Art Association lost their lives when a chartered jetliner crashed at an airfield outside of Paris in aviation’s worst single plane disaster. These people composed the cream of At lanta’s cultural community, talented people, interested and active in every phase of life in Atlanta—business, cultural, spiritual, civ ic, educational. Other than in war, no city has ever been so devastated n regard to such a meaningful resource . The concern and sympathies of South Carolinians are directed toward our Geor gia neighbors. Does the Country Need It? All across this land of ours today you can hear the beat of the promotion drums. The drums have a very special beat. What they’re heralding is: “Get aboard. Get aboard the government’s medical care plan for the aged. Get aboard.” In legislative lingo, the plan—now before Congress—is known as the King-Anderson bill. It stipulates the granting of hospital services to the 14 million plus elderly Ameri cans who are now getting benefits from either social security or the Railroad Act and eventually to everyone participating in the social security program—REGARD- LESS OF NEED—when they reach 65. Note the words in capital letters. In order to “look at the record,” we now introduce Congressman Thomas B. Curtis (R.-Mo.) of the important House Commit tee on Ways and Means. We quote from the Congressman’s factual article in the June issue of Reader’s Digest: “The stakes are staggering. If passed by Congress, the admimstration’s plan prom ises to be the most expensive single piece of welfare legislation in history. Cost es timates—for the first year alone—vary from the government’s sanguine one billion to an insurance company’s four billion. Two things are sure: the cost will be tremendous, and it will come out of your pay check and mine.” While weighing Curtis’ findings, bear in mind that there is now in force the Kerr- Mills Act which grants federal funds to Babson Park, Mass., June 7, 1962—During the past week, almost everyone has been asking what has happened«to the stock market. The newspapers have said “nothing like it since 1929.“ Yet the Dow-Jones Industrial Average is off only about 20% from its all-time high which occurred at the start of 1962. The Industrials have suffer ed the most; the utiliies have suffered less; while the railroads have suffered the least. On the oth er hand, almost everything has suffered some what. REAL ESTATE, AUTOMOBILES, AND COSMETICS The newspapers, television, and radio have made so much of the big break that people are getting it into their heads that everything should go down in price. Therefore, whether they are looking for houses, automo biles. or even orange groves, they expect bargains, and they pay no attention to the prices of a month ago. This especially ap plies to used cars of which there is a surplus and the dealers are trying hard to convert them in to cash. The banks are getting frightened and have begun to ask their customers to reduce loans. They really have no reason for being frightened; but bankers are easily scared because it is not their money which they are loaning, but rather the money of their customers. They do not know when their customers will want to use their mon ey to buy bargains themselves, and hence the bankers must be prepared to take care of them. Most bankers were much disturbed by President Kennedy’s actions when he lost his temper over the price of steel. They feel that President Ken nedy is against business and profits, and, per haps, is too favorable to the labor leaders. Even the brokers are beginning to feel this way, owing to the SEC investigations. Some brokers are even unjustly saying that the past week will go down in history as the “Kennedy Break MUTUAL FUNDS There has been a great sale of mutual funds during the past two years. It is reported that over 75,000 salesmen are selling mutual funds to day. Most of the stock exchange firms are in dulging in the sale of mutual funds. They are al lowed a commission of one-eighth of one per cent on listed stocks, and cannot afford to have their salesmen go out and solicit small investors for this fee; but they get about 5% on the sale of mu tual funds which commission they can divide with the salesmen. When a salesman sells a thousand dollars worth of mutual funds, the operators of the Fund must enter the stock market and buy a certain amount of listed stock. This has bolstered the stock market during the past two years. It will be more difficult to sell mutual funds and redemp tions will increase until the news of the recent stock market break is forgotten. When a mutual fund holder turns in his shares to be redeemed the Fund operators must sell some of their listed stocks. I believe these mutual funds are perfect ly safe; but they must go down in price when a break such as we have had occurs. Therefore, the selling by mutual fund operators has been one cause of the decline in the stock market. The dividends on mutual funds may not be reduced, excepting the so-called bonus dividends which result from capital gains . . . which the Funds may not get for a while. WHAT WILL THE STOCK MARKET DO NEXT? It is evident that there have been many bar gain hunters who have bought stocks the past week. This has caused some rallies. I, however, do not believe that all is well. There are many sore spots to be cleaned up by foolish investors, although general business is continuing good. As I have mentioned many times before in this column, there is too wide a gulf between the high prices that stocks have been selling at and their dividends. These low yields are unnatural and must be corrected. I had hoped to see it cor rected by a gradual and orderly decline. Read ers, however, should give much more attention to what stocks are yielding. Recent low yields can not continue indefinitely; without a great im provement in business and dividends, the situa tion can be corrected only by reducing the price of stocks. I advise against selling investment Davenport Graduates Following graduation from Clemson College Cecil Daven port is employed at present with Southern Bleachery, Taylors in the Chemic ladepartment. The son of Mr. and Mrs. Joe Davenport, he received a bache lor of science degree in chemi cal engineering. At graduation he was commissioned a second lieu tenant in the Air Force and will enter service within the next two months at Denver, Colorado. At Clemson he was a member of Delta Kappa Alpha Fratern ity and the American Institute of Chemical Engineers. Joanna Clubhouse Activities Planned Joanna Clubhouse 14 Joanna—The program of sum mer activities of the Joanna Clubhouse will get under way Monday with a varied schedule planned to meet the entertain ment needs of ail ages. The clubhouse will be open for activities Monday through Fri day, June through August, from 9 a. m. to boon and from 1 to 5 p. m. Permission may be grant ed for after-hours use. Mrs. Bar bara Templeton will assist with the summer program. Mrs. Frances Warner is clubhouse di rector. Newberry Professor To Speak at Joanna In the absence of the pastor, Rev. James B.' Mitchell, Rev. Francis I. Fesperman, chaplain "and assistant Professor of Bible and Religious Education at New berry College, will speak at both services at the First Baptist Church, Joanna, on Sunday. Mr. and Mrs. Mitchell and Miss Barbara Johnson, church secretary, will be attending the Southern Baptist Convention in San Francisco, California. Bradford Completes Course With Goodrich James H. Bradford, sales re presentative of the Industrial Supply Company, Clinton, has completed an engineering and product application seminar con ducted by B, F. Goodrich Indus trial Products Company, Akron, Ohio. The seminar provides inten sive training in the latest engi neering and product application methods in the field of industrial rubber products. Bradford, who lives at 106 North Holland Street, Clinton, has been with the Industrial Supply Company for two years. Baptists of Joanna End Vacation School Vacation Bible School was held at the First Baptist Church, Jo anna, May 25-June I. There were 220 people enrolled with an average attendance of 175. r Forty-five adults wprked In the school. The Junior and IntermecLate Departments held a commence ment program on Sunday evening during the worship service. Junior handwork was on dis play in the vestibule of the church. OFFICE SUPPLIES CHRONICLE PUB. CO. medical care—funds to be matched by the states. Note that this money is to be given *ocks today; ^ 1 whether the persons who« ino^e fall, beiow certain prescribed ceilings. ket has rallied and is acting more stock mar CLINTON, S. C., THURSDAY, JUNE 7, 1962 (3t|p (Cltittmt (Ehrmtirlr Established 1906 July 4, 1889 — WILLIAM WILSON HARRIS — June 12, 1965 PUBIJRHED EVERY THURSDAY BY THE CHRONICLE PUBLISHING COMPANY Subscription Rate (Payable in Advance) Out-of-County One Year $8.1 9. Six — ^ 00 •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. Member: South Carolina Press Association, National Editorial Association National Advertising Representative AMERICAN PRESS ASSOCIATION New York, Chicago, Detroit, Philadelphia Your MOAMRi rihpni- Program We Specialize in Family Entertainment June 7-8-9 Action-Packed and Heart-Warming Story IN ONE DECISIVE M0MENT7.r~ wilderness nd lived adventure! riuaNIGEONRjgPAY^ UtBRUETB • £T££ • WicromiiR • norESiowi* • TCCHNICQIOR - ' ssshw Programs Start 3:00, 5:00, 7:00 and 9:00 p. m. Saturday: Start 1:00 p. m. Admission 25c and 60c FOB SO DAYS ONLY SAVE $17.5S STERLING SILVER SALAD TOWLE Henry Mills OF YORK COUNTY FOR Comptroller General RAISED ON FARM ~ WORKED IN COTTON MILL 20 YEARS EXPERIENCE IN STATE GOVERNMENT Honest — Dependable Sober vw/nr •• OTTMcCREA Hint rnt him Country Wed.-Thurs. June 13-14 4w ^**2. SUMMER FUN FOR SALE- AS LOW AS $ 40 M A MONTH Smart, sparkling, Opea-air bestseller-lowest price. spirit and lively performance. 125 HP engine. With power top standard it costs less than any other U. S. convertible—even those with manual tops. No wonder it’s one of America’s fastest-selling 6-cylinder convertibles. Solidly and lastingly Rambler with rattle-free Single-Unit construction. full of vsrve and SGia* s)l£» Economy King. America's lowest-priced oar The ”400’’ version with stan dard transmis- mNes per gal lon of any car in *62 Mobil Economy Run. ’40S Ibmfsrafauik of 6 jnmI cargo. Lika sN Ramblers, it has Deep Dip rustproofing... Ceramic- Armored muf- tier and taii-€ pipe...Doubie- T Safety Brake System. '46£ RAMBLER An Obviously Hotter Value Mirt. Mfsaited rataSpriOMMh H down MyiMat, Xhm. tom- tract wits aorad carnriaa ■. tadwal tarn paid, boat LYNN COOPER INC;EAST (AR0UNA AVI. 7 HKBI uaat MM, MB Of SUVBB, c bbmdimi tii ,a anaas. « KG. $47.30 VALUE MOW DILLARD BOLAND JEWELER Some Questions Hollings Has Not Answered 1— IS HOLLINGS A FRIEND OF THE SMALL BUSINESS MEN AND THE WORKERS? He has said la effect that what is good for BIG BUSINESS is good for the State. But Army Secretary said that what was good for General Motors was good for the United States, but the people did not agree with this. 2— IS HOLLINGS SINCERE AS HE CLAIMS TO STAND FOR PRIVATE ENTER PRISE AND AGAINST PUBLIC SPENDING? ^iivn TMs would fneaa that he was aganist Donaldson Airbase, Shaw Airfield, Fort Jackson, and Charleston Navy Yard. However, It seems that Hollings, like the newspapers in these big cities, is very much in favor of public spending If n helps BIG BUSINESS ta the BIG CITIES, but he is not for help for the old people, the sick, the workers and fanners. 3— IS HOLLINGS THE MIRACLE MAN WHO SINGLE-HANDEDLY GOT 40.- 000 NEW JOBS IN S. C.? ^ This would include to Laurens County the American Lava and the Torrington plant.' Our local leaders worked for months on these plants, and our taxpayers have spent over $288,i$6 to bring ns these plants. It has not been shown that Hollings did anything ax- tor pictures after the plants were built. Let ns give credit to enr 4— WHERE DOES ALL THE MONEY COME FROM FOR HOLLINGS’ EXPENSIVE CAMPAIGN? He has hired a firm ef publicity and advertising experts, he has pages of advertising i and hours of radio time, spectacular TV presentations, hundreds of hired workers mnms of literature, chain totters, buttons, posters, and billboards. All of this costs thousands, more than anyone ever spent in this State. Yon caa test assured that the does not come from Holttags personally or from workers and business mt from the Corporattons, Utilities, Textile Plants, Contractors and other rich firms aad 5— IS HOLLINGS A DEMOCRAT? Why do we Bad so many working and holding meetings tor Mm whs formerlv did the mme thing for Ike aad Nixon? Abo, why did he not want to support the Democratic Loyalty fens always voted and worked for the best toff rest si nut, mr the PEOPLE, and net Jest a few rich people. Be has made Ms stand clear L£h» i« -on ** PtoMto who win give help to those whe deserve aad need it.' t JobstM To The U. S. Sente pnM tor by Mends of