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I r ! r THE CLINTON CHRONICLE Otateft, & C„ Thursday, March 21, 1963 A Thing of The Past i < si* 1 * ^ Little by little, but with the sureness of the ebb and flow of the tides, the old, fine distinctions between the two great po litical parties of this country have been slipping away. Party loyalty, as the nation once knew it, is virtually a thing of the past. Nowadays it s commonplace for a Democratic Presidential candidate to carry a state #hile the Republicans sweep the local Congressional offices. And vice versa. There is every reason why this should be so. Once the parties, and the men who represented the parties, stood solidly on one side or the other of issues—bimetal lism versus a solid gold standard, free trade versus high tariffs, internationalism versus a Washingtonian nationalism, more govern ment power versus a rigidly limited gov ernment, and so oh down a long, dramatic list. No longer. As the Portland, Oregon, Journal, puts the question: “On the basis now ? of political and social philosophy, for in- sorengthening stance, why is Senator Hubert Humphrey in the same party as Senator Strom Thur mond, or Senator Barry Goldwater in the same party as Governor Nelson Rockefel ler?” So, in these times, we vote for individ ual men and women, not for a strong, clear party policy. Whether this is good or bad is a matter of argument. But the fact ex ists, and the impact on the American gov ernment system is profound. A Profound Irony The success of France—a name which, for the moment, is virtually synonyrnous with Charles de Gaulle—in preventing Brit ish admission to the Common Market will certainly prove to be a Pyrrhic victory. It contains a profound irony. No chief of state has been a stauncher foe of Commun ism than General de Gaulle. Yet France’s action was reported by the Moscow press with almost unrestrained jubilation, and with good reason. For it has shaken the foundations of NATO, and done infinite damage td the western defense alliance. General de Gaulle justified his position on the grounds that Britain is an island Stories Behind Words William by S. Pen field maritime power, with interests other than those of the nations of the European con tinent. A more likely reason is a fear that Britain’s entry into the market would im peril the French European leadership he so passionately believes in. A definite possibility is a of American . and British ties, in all the areas of mutual interest, with the Commonwealth nations joining. Europe would be the loser in the long run. But this may be the only means of cement ing a powerful Western position. Babson Discusses More Inflation Hedges All Things To All Men Walter Lippmann, in a recent column concerning the hard sledding that the Ad ministration’s tax program is meeting in Congress, makes a point of deep signifi cance. He writes: “In an effort to please ev erybody a little, very few are left who are pleased very much. It is a program to cut taxes and at the same time to raise them, and no political leader can rouse the peo ple to follow him in two opposite directions at once . . . The country is baffled by it. Instead of focusing public attention on the vital need to stimulate the economy, each taxpayer has been invited to see whether he will lose more by the tax reforms than he will gain by the tax reductions.” In other words, the program Undesigned to be all things to all men, and that never works. Mr. Lippmann’s case is supported by mountains of evidence. For instance, such diverse groups as the major indus trial associations and the princip«d labor unions are both highly critical of the plan. Mr. Lippmann is among the many who feel that a tax cut is essential now. But his pessimism over* the Administration’s scheme is thoroughly based. The political overtones are too obvious, and a thinking public has, with every justification, grave doubts as to its soundness—especially when it is accompained by proposals for enor mous increases in federal spending and the federal deficit. The West’s Weakness “. . . both trade unions and employers p have become technically irresponsible.' Wage demands are continually made and continually met with little regard to the j interests of the people as a whole or the* well-being of the economy. Prices rise steadily.” That observation could have appeare<l in any one of thousands of newspapers in this country'. But it didn’t. It comes from far away—from a lead editorial in the Lon don Times. And it serves to illustrate a problem which is common to almost the en tire west and which weakens its position in' a divided and chaotic world. In our own country, prices and costs continue to inch up. The increases in a brief given period are small—a fraction of one per cent. But over months and years they further erode the worth of the dollar —and, most important in the long view, weaken the dollar’s standing in bitterly competitive world markets. When labor demands wage increases greater than gains in productivity justify, it is, in effect, demanding more inflation. When employers are forced to agree to such increases, they are doing precisely the same thing. And the worst offenders of all are spendthrift politicians who take a drunken sailor’s view of deficits. Babson Park., Mass., March 21—Several fac tors can help to insulate a company against the effects of inflation:—(1) GROWTH. A company experiencing rapid growth will find that its rate of business increase can lift profits at a faster pace than the rise in costs. (2) VITAL INDUS TRY. This includes companies in industries which are vital to the economy or to consumers and which can pass on increased costs by raising prices. (3) DIVERSIFICATION and INTEGRA TION. Companies whose profits are squeezed by inflating costs can bolster their position through diversification and integration. (4) VALUABLE ASSETS. (Some companies are in the enviable position of possessing assets which are vital to their principal business and also potentially valu able in other respects. BUILDING MATERIALS Companies in the builidng materials field also possess inflation hedge characteristics. Their timber and mineral properties should gradually become more valuable. Population growth and migration are favorable to the building industry’s future. U. S. Gypsum is the largest company in its field; it supplies half the domestic requirements of gypsum wallboard and plaster, and also 20% of the building industry’s metal lath needs. The company also produces roofing material, siding, insulating material, and paints. Its properties include strategically located quarries and acreage. s Masonite Corporation is the largest domestic producer of hardwood. It has large timber hold ings in Mississippi and California. The company also derives oil revenues from its properties. Diamond National Corporation produces paper- board, folding cartons, containers, matches, and wooden ware. It also sells lumber and building materials. The company owns 500,000 acres of timber! and. COAL INDUSTRY This industry has been subjected to a long shakedown. Elimination of marginal producers and the shift to mechanical mining has enabled the surviving companies to emerge in a stronger position to benefit from the growth in coal con sumption by steel and electric power plants. Also, research being conducted could lead to discovery of new uses for coal. In addition, many compan ies are diversifying into other fields. Consolidation Coal is the largest domestic producer of bituminous coal, and has substantial coal reserves. The company is a Joint owner with Freeport Sulphur—in a potash mining ven ture. , Eastern Gas and Fuel Associates is a large bi tuminous coal producer, rapidly becoming a gas utility. Its wholly owned Boston Consolidated jGas is a consistently important contributor to profits. The .company just recently exchanged its holdings in Norfolk and Western Railway (divi dends from which had provided about half of East em’s earnings in late years) for its own shares, and also called some of its bonds. This reduce* Eastern’s number of outstanding common shares and simplified its capitalization. Insofar as future income is concerned, the company’s coal, river barge, and other operations will from now on be come far more significant than in the past. Columbia Gas System is one of the largest gas utility systems in the country, serving the Eastern, Central, and Mid-Atlantic regions. It owns over 400,000 acres of land in the Atlantic-Ap- palachian region which contains large coal, oil, and gas reserves. CHEMICAL COMPANIES I believe American Agricultural Chemical is one of the oldest and largest producers and dis tributors of fertilizers. It also manufactures phos phoric and sulphuric acids, phosphates, and fluo rides. The company owns 60,000 acres of land in Florida, underlaid by beds of phosphate rock suf ficient to sustain production for 80 years. International Minerals and Chemical is an im portant producer of mixed fertUizer, and a major producer of phosphate rock. It also produces pot ash and phosphate-based industrial chemicals. Extensive mineral and land holdings are located in Florida, Tennesee, Idaho, New Mexico, and Canada. Silhouette In 1759, Etienne de Silhouette was named French minister of finance. A war in which France was in volved had just ended, and the government was fi nancially exhauted. In order to rebuild the country’s finances, De Sil houette adopted severe economic measures. Costs were cut as much as possible. The money-saving program extended even to paint ings. Instead of having portraits painted, it became the fashion to have outlines drawn of the profile and filled in with black. These outlines looked like shad ows cast upon a wall. From the name of the man who popularized them, these shadow-like pictures are called “silhouettes.” mother, Mrs. Mountville News , lso vlimng Mrs _ M. F. Workman Rush Millam of MRS. MAUDE BRYSON •aitUstmmirflUTWl Mr. and Mrs. H. M. Bryson of Newberry visited Mrs. Rhett Bryson and other relatives here on Sunday. Mr. and Mrs. J. W. Miller spent several days last week in | Li n( j a Aiken with their daughter and son-in-law, Mr. and Mrs. Mark Pitts and family. Mr. and Mrs. Charles Banni ster and family spent Sunday afternoon in Belton with Mr. Bannister’s aunts, Mrs. Annie B. Welbourne and Mrs. Stella B. Day. Mr. and Mrs; Arthur Crisp of Elberton, Ga., visited the form er’s brother, W. E. Crisp, on Sun day. Mr. and Mrs. J. H. Elledge of Ware Shoals visited the letters parents. Mr. and Mrs. P. W. Fin- ey on Sunday afternoon. Mr. and Mrs. Tom Maddox and daughter Emilie of Fountain Inn were dinner guests of Mr. and Mrs. Jerome Finley on Sun day. Visiting Mr. and Mrs. J. H. Thomason, Jr., on Sunday were ier brother and family, Mr. and Mrs. E. L. Faircloth of Laurens. Col. and Mrs. W. H. Finley were dinner guests of Mr. and Mrs. AKon Finley in Greenville Saturday. Some of our folks are still shut-ins with flu. Mrs. Bill Ward underwent sur gery at Self Memorial Hospital, Greenwood, last Friday. She is recuperating nicely. PARTY OF BIRTHDAY Mrs. J. H. Thomason, Jr., hon ored her daughter Jamie with a party on her seventh birthday, March 16. Twenty-two guests gathered at the Grange Hall which was dec orated with balloons and high lighted by Japanese lanterns. Following appropriate games, the hostess served cup cakes and soft drinks. Party favors for the guests were balloons. Assisting the hostess in enter taining was her daughter, Miss Lynn Thomason. Workman. Mrs. J. A. Whiteford and son Wade and Mr. and Mrs. Donnie Coker of Clinton visited Mr. and Mrs. H. E. Bishop and other re latives in Greenville Sunday af ternoon. Mr. and Mrs. H. R. Smith and Smith of Columbia are this weeks’ guests of Mrs. F. S. Cole. James Bostic of Ware Shoals spent the past weekend with Cal vin Bostic. Mr. and Mrs* Harry Coward of Spartanburg were at their home on Lake Greenwood for the weekend. The most beautiful sight in town this Monday morning is the large pink Japanese Magnolia tree which is in full bloom in front of the home of Mr. and Mrs. Kenneth Hanna. Almost every year the buds are killed by the cold before they can burst into bloom but this year condi tions must have been just right in spite of the extreme cold wea- ther. — —-——— ’ -Not only is the tree a pretty picture but the ground under neath is covered with pink pe tals which looks like a pink car pet and makes a perfect picture, i Mrs. L. D. Hanna who lives with the Kenneth Hanna’s says“Although we did not plant the tree we are enjoying its beauty. I have given some of the branches to friends and one has one growing in her flower gar den now.” The tree is probably one of the oldest and best be loved in town. Clinton Hi-Lights By MARJORIE ARNOLD Barbara Anderson, the daugh ter of Mr. and Mrs. Jim Ander son, has been chosen Student of the Month for March. During her four years at Clinton High, CLINTON, S THURSDAY, MARCH 21, IMS £l)r (Clinton (Ettranirlr t EstablUhed 19M July 4, 1889 — WILLIAM WILSON HARRIS — Jane IS, 186S PUBLISHED EVERY THURSDAY BY’THE CHRONICS PUBLISHING COMPANY Bahacription Rate (Payable in Advance) Oubof-County One Year $8.00, Six Months $2.00 1 One Year K00 Second Class Postals Paid at Clinton, S. C. The Chronicle seeks the cooperation of its subscribers and readers. — the publisher arffl at all times appreciate wise suggestions and kindly advice. The Chronicle will letters of general Interest when they are not of a defamatory nature. Anonymous ^ wffl not be noticed. This paper is not responsible for the views or opinions of its AlfXRICAN PRESS ASSOCIATION South Carolina Press Aasodatton, National Editorial Association National Advertising Representative New York, Chicago, Detroit, Philadelphia Crass Hi News MRS. HAROLD AUSTIN, Correspondent Mr. and Mrs. J. C. Bolt had as their guests during the past week Mr. and Mrs. Robert Bolt and children of Brevard, N. C., Mr and Mrs. W. A. Robinson and children of Greenville, Mrs. Maude Williams of Laurens and Mrs. Tom Williams of Mont gomery, Alzj. Also Mr. and Mrs J. G. Cunningham of Griffin, Ga., who are still visiting in the Bolt home. Mr. and Mrs. Z. L. Madden of Spartanburg visited the farm er’s sister, Mrs. H. L. McSwain during the weekend. Mrs. W. M. Leaman spent sev eral days last week with her daughter and family, Mr. and Mrs. Gene Shillinglow at Rock Hill. Mrs. Gladys Davis, Mr. and Mrs. Charles Davis and son John of Sumter and Mr. and Mrs. Bill Barrow and little son of Greenville were recent guests of Mr. and Mrs. J. B. Hill. Mrs. Wreathea Fagan spent the past weekend with her daugh ter in Columbia. Mrs. Thomas McAuley, Mrs. Jean Anderson and son Tommy of Greenwood, were Sunday guests of Mr. and Mrs. W. A. Simpson. . Mrs. L. D. Hanna has return ed home after an extended visit with relatives in Charleston Mr. and Mrs. G. F. Williams and family were Sunday guests of Mrs. Marian Beeks at Wars Shoals. Miss Carolyn Coleman of Spartanburg spent the weekend with her parents. Mr. and Mrs J. H. Coleman. Johnny Coward also of Spartanburg waa the Coleman family for the week end. Mr. and Mrs. Frank Norris of wood was tbs guest of bis <1 i ± \ BONN Aft 8:00 P. M. — March 25 BELK AUDITORIUM Barbara has been active in the FHA, the Latin Club, and the Beta Club. She has served as president of the National Junior Honor Society, treasurer of the National Honor Society, and as a Junior Marshal. This year she is senior class secretary, typist for the Clintoaian, and a Fur man Scholar. • • • At the National Honor Society meeting in Tuesday, March 12, members saw a film on person- to-person communication. Tbs film stressed listening, to others’ problems and seeing various prints of view as ways of im proving understanding between people. The chib is also making plans to sponsor Religious Em phasis Week in April. At the March FHA meeting last Tuesday,.. J- C. Thomas and Mrs. D. R. Holland of J.-C. Thomas Jewelers/ gave a talk on crystal, china, and silver. They pointed out ways to judge the quality of crystal and china, named the various pieces of sil ver, and illustrated attractive place settings. In Greenwood on Thursday, March 14, tht Clinton FHA mem bers attends^ the Bi-County meeting. Dianne Ledford took part on the program as bi-county treasurer. The Clinton also presented the “One Little Candle.” Taking part were Carolyn Mills. Nancy Bagwell, Kathy Bledsoe. Betty Black, Barbara Fraser, Betty Jean Johnson and Myrtle Wil liams. Sue O’Dell of Joanna, was elected a district officer for 1963-64, and Cindi Stroud of Jo anna, was elected a candidate for state second vice-president. v — * • •' At the Transportation Club meet ing last Thursday new members who have just completed the bus driver training course at CHS. were given copies of the club rules and the point system of driving. Members also discussed the annual club banquet and the Bus Drivers’ Road-E-O. CHS’ers Jane Milam. Joe Get- tys and Janice Pinson visited ’62 graduate Bunky Blalock at Davidson last week-end. The group beard a concert by the Lettermen and attended a dance Saturday night. Your iMJADWK'i Program TODAY THRU SAT. MARCH 21, 22, 23 mOlSONnawWVNN Features Start 3:20, 5:20, 7:20, 9:20 Starts 1:00 P. M_ Sat. MON.-TUES.-WED. a MARCH 25, 26, 27 x * Sparkling Adult Comedy Shows 3:00. 5:30, 8:04 Has V-8...will Just out! A hot n«w V-&tojdd now fira to tha Comat fwHM+Mi la*. W* cii fcfia You’ll call K a pistol! It’s avaHabla In any Comat—jaunty roofjine, station wagons, racy buckst-saat S-22's, and Oomafa top. And Comat adds to your fun with new aervice-aavsra raduOa brakes, anti-freeze,, oil and lubrication. No wonder Comat holds Ae top resale value record in Ha etas. Your Mercury dealer's got the Comet you're interested in... and keeps his interest in the* Comet you gall C0MCT • MCICON • MCNCUNV... PNOOUCTS OF fOt M YEARS THE yrMSOt at If Yeu’re fhtrlnnn OflflMUt. U CMmefe dfeMnii u Buwsrea !■ A Om* IM A* » »■« 1* Ov M < BALDWIN MOTOR CO. NOKIH BROAD 8TKBBT UJf IW\*.