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; THE CLINTON CHRONICLE Thnnday, July 12, 1M2 Tv Congremnan Dorn Votes In Interest Of S. C. Congressman W. J. Bryan Dorn of the Third District is due a vote of thank* by South Carolina farmers, particularly, and by others who are opposed to placing furth er restrictions upon free enterprise by gov ernment. Mr. Dorn was the only one of South Carolina’s six Congressmen who voted against the passage recently of the Admin istration’s farm bill. The measure was de feated in the House by a relatively narrow margin. A section of the bill would have placed mandatory acreage reductions and market ing quotas on such farm products as corn, oats, barley and grain sorghums. We don’t know whether or not the bill was opposed officially by the South Caro lina Farm Bureau. But the president of the Farm Bureau, David Sloan of Marion, said defeat of the legislation is in the best in terest of South Carolina farmers. “South Carolina farmers,” Sloan said, “use those grains on their own farms to feed livestock. We have very few farmers selling them for cash.” Passage of the feed grain section of the bill, Mr. Sloan said, would have caused a serious slow-down in South Carolina’s ex panding livestock and small grain industry. Any farmer can raise livestock free of any restrictions and that avenue of farm ing has provided about the only bright spot in agricultural operations in recent years for our section. Cotton and wheat growers operate under growing and marketing re strictions. Socialized Medicine Opposed Advocates of the proposal to provide medical services to everyone drawing social security benefits—whether they need them or not, or want them or not—often say that the opposition comes from a relative few, who are motivated by selfish economic or political reasons. What is the actual case? Senator Goldwater of Arizona offers an answer. His mail, he writes, has been run ning three-to-one against the bill. And he is is not alone. He cites the mail received by two other Senators—one from Nebraska, the other from Indiana—follow ing the President’s Madison Square Garden speech urging passage of the bill in dramat ic and impassioned words. One Senator’s mail ran 298 to two against. The other’s racked up a 274 to 28 opposing votes. Simi lar trends were demonstrated in letters from other states. From this Senator Goldwater concludes that “the American people know perfectly well the dangers of socialized medicine and want no part of it.” The American people have every reason to take that view. The experience with socialized medicine in Britain has hardly been reassuring—it has been characterized by soaring costs and a grave decline in the standards of care. And the enormous growth of voluntary health insurance, including the new plan, sponsor ed jointly by Blue Shield and the American Medical Association for providing it for the elderly at very moderate rates, is another potent element in cementing opposition. Finally the Kerr-Mills bill, passed by the last Congress, answers the question of how to help the truly indigent, by setting up a joint federal-state plan that has been widely accepted in the brief span of time since its enactment. How Crazy Can You Get? “Can Your Pocket Stand a $688,000,000 Tax Bite?” That’s the striking title of a leaflet issued by the Montana Power Company. And it tells a story of possible waste of your tax money on an almost fantastic scale. The company proposes to build a 240,000 kilowatt hydroelectric development for $42 million--all of which would, of course, come from private savings and earnings, and not your federal treasury. But this would be out if a proposed government dam is per kilowatt, it would lea<j all federal pro jects in the Columbia Basin. That cost would, be $1,010. By the way of comparison, cost at Grand Coulee is $106. _ On a straight profit and loss basis, this government project would lose $11,002,000 a year on its operations, counting interest, amortization, operation and maintenance and so on. That comes to $660,100,000 over a 50- year period. To it must be added the loss of $188,600,000 in tax revenues that will be paid by the private utility if it is allowed to undertake its project. So—the possible tax bite on the taxpayers is $688,700,000— and it’s 100 per cent unnecessary! Addition ally, the government dam, through its flood ing, would destroy ranges, feeding grounds, and waters essential to fish and wildlife, and would also flood out 9,000 acres of irrigated cropland, displacing 1,284 people. How crazy can you get? Babson Discusses Local Banks aECWB4a|oM«ws he players going out for Little LB SCHEDULE The boys All-Star team had a good workout Monday night and yes terday afternoon. The All-Stars will be named in next week’s pa per. Sixteen boys will be picked to represent Clinton in the sub district two tournament which starts in Greenwood Monday, July 23, at Greenwood’s recre ation center. A meeting will be held Tuesday, July 17, at the Bank of Clinton at 9:30 a. m. to make final arrangements for the tournament. The drawings and pairings for the tournament will be made at this meeting. pi I V; Beger W. Babson Park, Mass., July 12—According to the newspapers, one hundred billion dollars has been lost in stock values since May 28, 1962. Sell ing has been done for one of three purposes: (1) by people who have been buying stocks on bor rowed money and want to reduce their loans; (2) by people who have temporarily quit the stock market and simply charged off their loss to expe rience; and (3) by those who sold out at a profit and are putting their money into savings banks. STOCK PRICES VERSUS YIELDS Wherever the market may be historically, it is high in consideration of the low yields of most good stocks. These yields are from 2% to 3% mostly. Compared with this most savings banks pay from 3^fc% to 4Vfc% on deposits, which deposits they advertise as “in sured by an agency of the gov ernment.’’ Therefore, many of those who sold out and took a capital gain are depositing their money to secure a -rate of 3%. or more. I am devoting my column today to discussing the various advertisements in magazines, placed largely by big-city West Coast banks and sav ings and loan associations, promising this high rate of interest with safety. Probably some peo ple in each of the 400 cities in which this column appears are sending money out of their local community for deposit in one of these establish ments which advertise in leading magazines. 1 believe this is wrong and unpatriotic. MY OWN EXPERIENCE I invest money for a charitable organization in Gloucester, Massachusetts, for which I sold stocks at a handsome profit early in 1962. I de posited $75,000 with the Savings Department oi the Cape Ann National Bank & Trust Company at 3Vfc% interest. I invested $50,000 in the 4% stock of the company which supplies Gloucester with natural gas. This preferred stock sells at a dis count to yield around 5%. One of my co-trustees urged that I use the 3Vi% deposit to buy similar cumulative preferred stocks which would yield 5%. The able Vice Presi dent, Mr. Waldon Anderson, telephoned me that a member of my family is a director of the bank and that my great-uncle was one of the found ers! Thereupon I agreed to leave this $75,000 at 3Vi% with the understanding that, if the rate is changed to 4% for new deposits, this charitable trust’s deposit of $75,000 will be marked up to 4%, although, of course, the higher return will not be made retroactive. EVERY CITY NEEDS STRONG BANKS I believe that it is very unpatriotic for any one living in an eastern city to withdraw his ac count from a local bank, or to take his “capital gains” and send the money to great banks in Los Angeles or even San Francisco. Every one of the 400 cities or towns having this column needs the money for expansion for established local businesses. Southern California, which is getting a majority of the defense money and is starting new electronic companies every week, does not, in my judgment, need the money. For a community to grow, its people must realize that its banks are a "two-way street”. In order to loan money, the banks must increase their deposits. Therefore, the local people should not withdraw their money and send same to big Western banks HELP YOUR LOCAL RANKS AND INDUSTRIES This means keeping deposits at home and not sending them away at the present time. Of course, there are a lot of smaller places in California which are growing too fast and need additional funds; but be sure you are helping these smaller California towns. Try to visit them personally. It will do them good and do you good. California is a wonderful state. All of the above is irrespective of World War III. I haven't believed that World War III Is im minent, and have not become interested In “shel- The Palmetto tournament will be held in Winnsboro. This tournament will start August 6. Rock Hill, Chester, Winnsboro, Laurens, and Clinton will par ticipate in this tournament. Clin ton will meet Rock Hill In their first game August 6 at 5:00 p. m. » • • The recreation regular schedul ed games will end next week. SMALL FRY SCHEDULE 10:00 A. M. Lydia vs Joanna, Friday Hampton vs Thornwell, Mon day. Bailey vs Lydia, Tuesday LEADING PALMETTO HITTERS Player—Team AB H Pet. Laney (B) 28 14 500 Lott (J) _ 34 14 .500 Martin (J) .... 27 11 .407 McKee (H) ...37 15 .405 LoUis (J) .... 35 14 .400 Lambert (B) _ 23 9 391 Watts (T) 36 14 389 Williamson (W . 29 10 .345 White (H) _ 36 12 .333 Greene (B) .... 21 7 .333 King (H ) .... 34 11 324 Smith (T) — 31 10 323 Osborne (J) _.. 35 11 .314 Grady (L) 35 11 .314 Mountville News MRS. MAUDE BRYSON Correspondent Mr. and Mrs. J. H. Mullins and family from Alanta visited Dr. Ruth Stokes last week. Mr. and Mrs. H. W. Crisp of Miami was in Mountville Sunday visiting relatives and friends. Mr. and Mrs. Ray Wylie of Salt Lake City, Utah visited Mrs. Lyl C. Adams during last week end. Dr. Blanche Crisp Badger and Neil Crisp left Sunday for a trip ot Chicago, IU., and Vancover, B.C., where they will visit rela tives of Neil’s, and they plan to visit in Seattle, Wash., before re turning home. Miss Codie Simmons, Miss Lin da Goodman, Wade Goodman, and Joe Wham visited in the mountains of N. C. last week. Mrs. Olin Stewart visited her sister, Mrs. Frank Oakley, who is in the Spartanburg hospital, Sunday. During last weekend, Mr. and Mrs. C. R. Cook from Beechers City, 111., visited the former’s sisters, Mrs. J. S. Winebrenner and Mrs. J. F. Bryson in Green wood. SKIN ITCH DON’T SCRATCH IT! Scratching spreads infection, cansiag MORE PAIN. Apply quick-drying ITCH-ME-NOT in stead. Itching quiets down in minutes and antiseptic actk dps speed heaUnf. Fine for ec- >ma, Insect Mies, foot Itch, oth er surface rashes. If not pleased, your 48c back at any drag store. TODAY at Young’s Pharmacy. moAmKi LAST DAY TODAY JULY 12 DOUBLE FEATURE government dam would produce about the same amount of power as the private development—266,000 kilowatt*. But, in cost ters” and some of the other things which are be ing advocated. On the other hand. has lost if® I am at my [needs in- I that the National Biscuit Com act for I awarded a contract ture and store “ wit’s end. a thorough ov eludes a new U. THE END CLINTON, 8. C., THURSDAY, JULY 12, Ittt $ltr (CHntoti atyranirtr EstabBsbed 1999 July 4, 1919 — WILLIAM WILSON HARRIS - Jane 11, 19U matMCD *t*RY THURSDAY BY THE CHRONICLE FUiLHttfiNG COlfPillY Rate (Payible in Advance) One Year $8.00, 8ta One Y< 00 Bseood Class Postape Paid at Clinton, S. C. The Chronicle seek* the cooperation of its subscribers and readers — the will at all times appreciate wise suggestions and kindly advice. The Chronicle wffl publish letters of general interest when they are not of a defamatory nature. Anonymous communication* will not be noticed. This paper is not responsible for the views or opinions of Its South Carolina Press Association, National Editorial Association AMERICAN PRESS ASSOCIATION York, Chicago, Detroit, Philadelphia >: t:S7 |jgiMRlK\| EScmrma naff ■UNO Feature: 5:87 aad 8:52 CARTOON 25c and 8 Friday and Saturday, July 18-14 Tarzan Goes To India A Math Daaa 7:18, 9:12 £SA*'»S?iS1. Whitmire vs Joanna, 5:00 p m., Thursday. Moose vs Exchange, 6:00 p. m., Friday. —— Kiwanis vs Lions, 7:45 p. m., Friday. Lions vs Whitmire, 6:00 p. m., Monday. Joanna vs Moose, 7:45 p. m., Monday. Moose vs Whitmire, 6:00 p .m., Tuesday. Exchange vs. Kiwanis, 7:45 p. m, Tuesday. Kiwanis vs Joanna, 3:00 p. m., Wednesday. * Exchange vs Lions, 5:00 p. m., Wednesday. . PALMETTO SCHEDULE Whitmire vs Joanna, 3:00 p. m., Thursday. Thornwell vs Lions, 5:30 p. m., Friday. Bailey vs Lydia, 7:45 p. m., Friday. Joanna vs Bailey, 5:11 p. m., Monday. Hampton vs Whitmire, 7:45 p. m., Monday. Lydia vs Thornwell, 5:30 p. m., Tuesday. Bailey vs Whitmire, 7:40 p. m., Tuesday. Lydia vs Hampton, 3:00 p. m., Wednesday. Thornwell vs Joanna, 5:00 p. m., Wednesday. News Of Bonds Cross Roads MRS. N. A MOUSE, Friends of Mrs. Julia Morse will be eled to learn that she and her young son are at home after convalesing at the home of Mr. and Mrs. Morse near Cross Hill. Mr. and Mrs. Janies Evans and Mrs. Mildred Gause have return ed home after a trip through Buf falo, N. Y. into Canada and other places of interest. Small Batiaatsama. BANK their ift^fg Thgy find that moldno regular deposits in a bank savings account h«<ps than to build thoii busintstts ovor bigger. Join thorn, ot our bankl M. S. Bailey and Son, Bankers MEMBER FDIC Mr. end Mrs. James and sot Jimmy, Mr. C. W. Johnson and a have returned home after a trip to Georgia and N. C. Mrs. Het Lindter of Little Moun tain spent several days in the comunitj this week visiting rela tives. Mr. and Mrs. N. A. Shouse were in Clover Sunday to attend the wedding of Susan Neal to John Bryant of Rock Hilland Clover. Mr. and Mrs. Ronald McGuirt have returned home from their wedding trip to Summerville and Myrtle Beach. Mr. and Mrs. Trillle Blackwell spent last week at their lake home near Greenwood. Jimmy Johnson and Steve ■■■■■■ Wright left Monday to attend +H camp. Steve and Jtamy are members of Shady Grove 4-H Club. Mrs. Newman Tony Shouse, Al, Susan, and Kay Shouse spent days in the mountains this Gray Funeral Home IC. FUNERAL DIRECTORS EMBALMERS DIAL 833-17H AMBULANCE METICE Your ( iMMDWKX Program . *• . [in V • ' Starts Monday, July 16 \ji ^ Most Hilarious Mhir that ever Matched an IRRESISTIBLE FORCE against an IMMOVABLE OBJECT! CARY DORIS GRANT ^ DAY TftatTduch of Mink" ^ Enimt* COLO* • *******• ""^{^ GIGJ£j« AUDREY % YOWG^C* MEADOWS IMUY StMMOwNMl MOMSTtR OQJUTIHMI flNUV SHtfmTmm KUW MKRTMmM This is an adult sophisticated comedy, and is not rec ommended for children. Programs: 3:00, 5:00, 7:00, 9:00 P. M. Adults 75c — Children 25c (summertime is savingtime) BETTER ONICE >ick and choose from a\ umper crop/ BETTER IintKY (to your Chevrolet dealer’s, naturally) GetaJakflmp tCtnoir*i)tm local mdurized CkevroUt dealer’. CUNtbN.&C. M» W. MAD) St |n|