The Clinton chronicle. (Clinton, S.C.) 1901-current, August 29, 1963, Image 2
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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
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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
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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!
GET THE
BEST DEALS
SHOP
EARLY
Slightly Used
TAKE-OFF
^ TIRES
Only a few miles
driven on these...
but we have to
sell them at used
tire prices!
ALSO...
our whole .
inventory of
good inspected
USED TIRES
is included in
this sale!
ALL TIRES
MOUNTED
FREE!
Immediate
Installation
m
NYLON TRUCK TIRES
I at passenger tire prices
jlmuwv
KE
Easy Terms!
:
COX HOME & AUTO SUPPLY
“Customar Satlafacthm Guaranteed”
tot N. BROAD ST. EBONS m-VJlO
Watch For our Grand Opening of New Annex Soon