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L THE CLINTON CHRONICLE Cthiton, S. C n Thursday, August 29, 1963 Labor Day 1963 We are on the threshold of another La bor Day. And what a vast change has taken place in this institution and the cause it stands for in the decades that have passed since its first observance. Labor has grown strong—stronger, very likely, than its leaders of another and simpler age could have imagined. Nowhere else in the world has labor earned and gained so many material bene fits as it has in the United States;—The “blue collar” man has caught up with his “white collar” counterpart in earnings and living standards and in many instances passed him by. Labor can take well justi fied pride in this achievement. But the high status of labor, and la bor’s power, involve another element IPhat element is responsibility. Labor can no subsidised, politically controlled power plants. Why should the customers of publicly- owned power plants escape the taxes they should be paying for electricity, in support of government- Why should 80 per cent of the people put up the taxes the “prefer ence” customers escape on their electric bill It’s time to do away with the privi leges of king's favorites in the United States. Let all commercial enterprise and private citizens be taxed under the same rules. Executive Vice President Lee Shield of the American Life Convention warns: “Slavery can be the lot of any people who drift far enough down the road of govern ment-in-business. When government com- Stories Behind Words William Pagan by S. Penfield bines economic power with a vast political longer be content with just puraiung jte power jt has the means of telling us where we will work, where we will live, and what differences with management. It has another and a larger duty. That is to help provide the quality of industrial statesmanship that is so urgently needed if this country is to maintain its position in an increasingly competitive world. September 2, deserved honors will be paid to labor. May it go on and earn, through wise accomplishment, still higher honors. we will say and do.’ Babson Discusses “Worthless” Stocks When Christianity started spreading through the Roman Empire, the efforts of the church were concen trated in the cities and towns. These population cen ters provided great numbers of potential converts within fairly small areas. Long after the church had converted the inhabi tants of the owns and cities, the old faiths still linger ed in the villages and rural areas. The Latin word for villagers is “pagani.” Since the pagani were converted, the name was applied to all un believers. From pagani came the English word “pa gan,” meaning an irreligious person, or one who wor ships many gods. -— Mr. an * Mr*. Frank Harmon and family visited in Columbia on Sunday. The Young Adult Class will meet at the home of Mr. and Mrs. W. D. Bishop Thursday (to night) 8:00 pjn., . . , The Alberta Taylor Circle will meet at the home of Mrs. Edgar Neighbors Tuesday, Sept 3rd,. 0:80 a.m. CARD OF THANKS We, Mrs. W. T. Scogin, Mrs. Bessie McKenzie, Mrs. T. B. Burroughs and Lawrenee Her ring wish to express our th for the many klndne thoughtfulness and many prayers extended to us during the illness and death of our brother, Herring of Clobert, Go. Missing The Big Point In accordance with an old pattern, spec ulation burgeons as to next year’s GOP presidential nominee. It is taken for grant ed that the Democrats will give their win ner his second chance at the post. It makes for interesting discussion and argument. Has Governor Rockefeller’s fol lowing become disillusioned or not? " Is Senator Goldwater’s conservatism an an chor or a balloon? Is the middle-of-the- roadism that led to Governor Romney’s striking victory in Michigan what the people want or not? Does Governor Scran ton’s lack of a national image make him unacceptable, or, in this age of communi cation miracles, is it easily surmountable? Sot it goes. It is natural, and it can be valuable. But it all misses the big point. The Saturday evening Post takes us to that point in these words: “The survival of the two-party system and the future of the country depend upon the resurgence of a viable Republican opposition. It goes with out saying that the a candidate in 1964. must not be just any candidate . . . The G. 0. P. owes to itself and to the nation to develop and nominate the strongest pos sible cnadidate.” This is not a world in which either party can afford to just go through the motions and look for a next time. The two-party system’s one excuse for being is to put forward a man with ideas, courage, and principles. He may win or lose. But that is what keeps a free system alive. Babson Park, Mass., August 20—Every now and again I receive a spate of questions from readers about what to do with old and apparently worthless stock certificates that have been found around the house. How can they be sure, they want to know, whether or not these stocks have any value at all; FORTUNES MAY BE UNCOVERED My first advice to such people is not to let go of such investments for any amount until they check every possible source of information about the companies involved. I remember some years ago that a Wall Street banker asked me if I would help him get some “worthless” stocks from readers of my column for a few pennies per cer tificate (not per share). Looking into the situa tion, I found that 40 out of 50 certificates bought by this brok er turned out to be actually worthless, BUT one out of every fifty might be worth as much as $1,000. This usually was a cer tificate needed by a company to dissolve or consolidate without any outstanding obligations or complications. While I am in no position, of *•••* w * course, to tell my readers axact- ly what to do with such situations, I still insist that you should not throw away any certificate just because some member of the family or some other “helpful” person says it is valueless. Prob ably the best bet is to show it to your regular banker. He will know how to go about checking on the current value, if any, of your certificates. HOW VALUES CAN COME BACK will have You will that lots of your “worthless” But this candidate certificates that turn up in desk drawers or in attics represent old mining companies. Maybe they never were any good, or perhaps they were issued by mines that petered out. Some com- King’s Favorites Once not so many years ago the people of the 13 colonies that became the United States resented the devine right of kings and the special privileges of so-called royal ty and officialism. It is strange therefore that they tolerate it in our government today. There is no better example of this than in our acceptance of government ownership and operation of tax-exempt electric power production, and all the privileges accorded it, in order that it can cut the rates re quired by tax-paying private enterprise. Some of the special privileges granted public power plants are: 1. Exemption from federal income taxes; 2. Other taxes lower than normal; 3. Free service from various government agencies; 4. No pay ment of, excise taxes, state public utility taxes or state income taxes; 5. Preference customers for whom power is reserved to the exclusion of others. Pampered public plants are treated like favorites of kings. They are a drain on taxpayers just as king’s favorites of old were a drain on over-taxed subjects. The “cheap” power excuse for this fa voritism is a hoax. If the tax-paying, pub licly-regulated private power companies were given the same tax exemptions they would knock the spots off the government panics didn’t have the money to dissolve legally, so perhaps they let sortie rancher pay the taxes for the right to use the land. And so the company was forgotten after stockholders were told that it had “passed out.” But I can remember, for example, some in stances in the 1900’s when uranium was found on such lands, with an increase from, say, $5 an acre to $60,000 an acre resulting. Maybe an old-timer who recalls the company gets himself a list of original stockholders and writes to them offering $10 a share for their certificates. Most families still having the certificates are probably glad to get $10 a share. What they don’t know is that the shares may now be worth as much as $1,000 because of the new-found uranium. Who can tell what new changes might come about for such undissolved companies. DISAPPEARING STOCKHOLDERS I have often urged people who move from one address to another to be sure to write any com pany whose stock they hold and let them know of the change. If you have some “worthless” stock, spend 5c on a postage stamp and take the time to write a letter giving your new address. If you move so many times and such shifts are not reported, a company gets back the letters they send to you—marked “unknown”—and af ter a time the firm puts you down on its records as “deceased.” My family for some time had large holdings in a national retail corporation. At one time this firm has had nearly 100 stockholders who could not be located. It may sound unlikely, but you actually might be one of these stockholders There must he hundreds of other companies with the same difficulty. And don’t forget that such stocks can double or triple in value, and you may not be found to be given your just share in th$ profits. Don’t let that happen to you or your family. DON’T DISPOSE OF DEFAULTED BONDS While on this subject, let me warn you not to rush to sell bonds that you hold when they de fault. The price of the bond may plummet from par to 50c or so on the dollar, but I have seen many such bonds climb back up to $1,000 in the course of years. I remember that Sheraton Hotel chain bonds sold at $1,000 before the turn of the century, then they defaulted and fell to around $200 where they remained for years. Long after that, a courageous and imaginative finan cier named Ernest Henderson showed his faith in the hotel business by buying up these “un desirable’ bonds. Since that time they have, of course, been paid off at par. Mr. and Mrs. R. T. Hollings worth have returned from a trip to Washington, D. C., and with relatives in Lexington, N. C. Mr. and Mrs. C. R. Cunning ham have been visiting their son- in-law and daughter, Mr. and Mrs. Ray Shubert, in Meridian, Miss. Their daughter, Miss Fran ces Cunningham, who has been visiting the Shubert family for several weeks, returned home with them. Mrs. W. R. Cameron and chil dren of Detroit, Mich., are visit ing Mr. and Mrs. W. K. Mullen. Mr. and Mrs. Wallace Scher- rer, Wally and Sally, of Rich mond, Va., have been recent guests of her parents, Mr. and Mrs. J. O. Denny. Hie Scherrers and Mrs. Denny spent last week at Ocean Isle, N. C., and Myrtle Beach. Mr. and Mrs. W. H. Wightman spent sveeral days recently at Myrtle Beach. Mr. and Mrs. Billy Davis and daughter, Debbie, spent Wednes day in the mountains of North Carolina. W. Hudson Cole is visiting rela tives in Savannah, Ga. Mr. and Mrs. Albert Carrol of Pompano Beach, Fla., were re cent guests of his brother-in-law and sister, Mr. and Mrs. B. Y. Hollingsworth. J. Richard Martin and children moved Saturday to Charleston where they will make their home. Hurricane News MRS. CECIL SCOGIN, Correspondent PHONE 833-0541 Mr. and Mrs. Lamar Lackey of Columbia, Mrs. Thomas Mims and children of Knoxville, Tenn., and Mr. and Mrs. Irvin Wick of Shelby, N. C., visited Mrs. J. A. Black and .Mrs. Alma Lackey Sunday. Mrs. Harold Copeland and children and Mrs. Dan Gunter visited Mr. and Mrs. Arnell Cok er and Mr. and Mrs. E. O. Bra- zille and Miss Hattie Hawkins of Columbia during the week-end. Mrs. H. A. Copeland visited the A. R. P. Camping Grounds at Flat Rock near HendersonviUe, N. C., a few days last week. Mr. and Mrs. W. P. Gastley and Rev. and Mrs. C. E. Russell visited Mr. and Mrs. C. W. Smith, Dr. and Mrs. George Jackson and Mrs. J. Gastley in Clarksville, Ga., and Miss Lizzie Peck, Mrs. Oliver Forester, Miss Cora Lee Allen and Mr. and Mrs. Frank Tatam and family in Gainesville, Ga., recently. Mr. and Mrs. Carroll Young celebrated their wedding anniver sary on Aug. 22. Benny and Joy Weils of New berry spent a few days with Mr. and Mrs. Carroll Young and fam ily last week. Doug and Eddie Lawson spent last week with their grandpar ents, Mr. and Mrs. George King of Cross Hill. Mrs. W. T. Scogin, Mrs. J. B. Burroughs, Mrs. Bessie McKen zie and Laurence Herring were called to Colbert, Ga., last week due to the death of their brother, Mr. E. M. Herring. Mr. Herring died Friday and the funertl was held Sunday 4 p.m. Mr. and Mrs. Harold Simmons and family of Aiken, Mrs. Collie O’Dell and Charles O’Dell of Ware Shoals visited Mrs. Nannie Hitt, Mr. and Mrs. Mason Simp son and Mr. and Mrs. Eugene Simmons and family during the week-end. Mrs. Charles Young and chil dren visited Mr. and Mrs. Ben Dickson in Cowpens last Thurs day. The Youngs visited Mr. Gillette Simpson at Self Memo rial Hospital in Greenwood, Mrs. C. O. Teague in Laurens Hospi- tla and Mrs. Pearl Smith at Laurens County Home. Mr. and Mrs. Allen Young en tertained the Intermediate Choir of Hurricane Church recently with a cook-out. Approximately fourteen members were present Assisting Mrs. Young were Mr. and Mrs. W. D. Bishop and Rev. and Mrs. C. E. Russell. Mrs. J. W. Caldwell and chil dren visited Mr. and Mrs. H. C. King and children of Rock Hill last week. Mrs. Virginia Cald well of Columbia visited the Cald well family last week. Mr. and Mrs. C. B. Nantz and children of Morganton, N. C. visited relatives last week bring- nig Mrs. Era Young home after a several month stay with the Nantz family. In The Chronicle CLINTON, S. C„ THURSDAY, AUGUST 20, 1003 Sip (Clintnn (Ebrnnirtp July 4, 1100 — WILLIAM WI1AON HARRIS — June 13, 1006 PUBLISHED EVERY THURSDAY BY THE CHRONICE PUBLISHING COMPANY Subscription Rate (Payable in Adva Out-of-County ») One Year $4.00, Six Months $150 Ons Year $100 Second Class Poetags Paid at Clinton, 8. C. The Chronicle seeks tbs cooperation of its subscribers and readers. — tbs imhHHiir will at all times appreciate wise suggestions and Undy advice. The Chronicle will publish letters of general interest when they are not of a defamatory nature. Anonymous rnmmanlriflnn* wffi not be noticed. This paper Is not responstbis for tbs views or opinions of its Member: South Carolina Prsao Association, National Editorial Association National Advertising Representative AMERICAN PRESS ASSOCIATION New York, Chicago, Detroit. Your Program Today-Saturday August 29-31 Shows: 3, 5, 7, 9 — Saturday: Start 1:00 Monday-Tuesday September 2-3 A BOMftNtiC ROUND#1HE4K)BU> MQNHUnfl e -I '» 5 - &>Me w *>h ME it obSm b^Ih Hii f uRbi nbIBidn Features: 3:10, 5:10. 7:10, 9:10 MMwdqr SqKeabet 4 "tarnisho mas I## Dsrothy BACK TO SCHOOL OFFER- ■ WE BOUGHT A TRUCKLOAD OF ICYCL SPip# 6PBISHS We Sell Only TOP QUALITY Bicycles The LOWEST Possible Prices 3 Biq DAYS OF VALUES Thursday, Friday * Saturday 'HI' BICYCLES H Full Contour Door-to-Door EMBLEM CAR MATS A#* •Heavy-duty, molded Em WITH THIS COUPON m^. Heavy Duty King Size Plastic Wastebasket s ONLY •Choice of i unit one KtOMMMtMOtMUOWtMMMMOOMMIlS LIMIT ONE ; •Heavy-duty polyethylene ►=> •One-piece, weterproof construction ; •Convenient molded-in handles a •Choice of red, pink, yellow, turqumee or sandalwood ^OOMOOOOOOOOOOOOOOOOOOOOOOOOOOOOflQg IBM rayons NYLONS Big Stocks 1 . /oryo$ e c SURE WE HAVE Retreads and at special prices! FIRST COME... FIRST SERVED! 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