The Clinton chronicle. (Clinton, S.C.) 1901-current, October 13, 1966, Image 17
/
- u
■HHHMIiatfl
la
i
Clinton, S. C., October 13, 1966
THE CLINTON CHRONICLE
To Football Fans
Every year at this time many of us
have a series of gala football week,
ends. We look forward to Saturdays
like children look forward to getting
out of school, and we drjve hundreds of
miles, often, to see this or that football
team.
The color of fall weather, the excite
ment of the game, the new clothes
which have been bought for the cooler
days, the crisp and energetic air, the
crowd, the enthusiasm of youth, and
other things add up to the best time of
year.
But also, with this holiday atmos
phere often comes tragedy. The roads
are often crowded on the day of a ma
jor college football game and, unfor
tunately some alumni start late for the
game. Some celebrate too much and
drive very late into the night.
Start early, avoid haste on the road
and spend the night, if possible. In that
way, you’ll probably live to see next
Saturday’s game too.
Individuals who set out to reform
the human race will be pretty tired
before the job is done. 1
* * * *
Church-goers do not necessarily lead
model lives, but, on the average, they
are our best citizens.
THE AMERICAN WAY
Youth Wants to Know
By RANDY GRIFFITH
hot biscut, butter, and chill
ed peaches.
THE GOVERNMENT
6IVETH—
Babson’s Point of View
On The Bond Market
By ROGER W. BABSON
The New Cars
Americans are now enjoying the an
nual parade of new cars — 1967 — as
they are introduced to the public in
newspapers, magazine advertisements,
on television, etc.
Only in the United States do manu
facturers change styling e^ch year and
attempt to persuade the public new
cars have “umpteen” improvements
and new features.
To citizens of some other countries,
where models change only every so
often and where primary stress is plac
ed on quality and long life, new-car ad
vertisements in the United States some
times seem comical. A new grill de
sign, for example, is of little importance
to them. What matters is what is be
hind the grill.
Nevertheless, tbf U. S. way is fun, if
a bit weird. It’s like a giant fashion
show each f^Jl. And manufacturers
have conditioned John Doe to try to
keep up with Mr. Jones and buy a new
car every year, or every two or three
years. And John Doe does just that.
And despite the high cost of chang
ing models every year, U. S. cars are
still the best buys in the world of motor
transport.
Do You Worry?
• It is surprising how time seems to
take care of most of life’s problems,
even though some of them seem in
soluble at the moment.
Time is the greatest healer of all,
and even the most melancholy turn
of events can be softened, and even
erased, by the passage of time.
We mentiomthis because life today is
a great strain which has created tre
mendous mental and psychological
problems, as well as nervous disorders,
frustrations and disillusionment, in
many instances.
It is a great consolation to realizd
that time will solve about ninety per
cent of your worries and, if you can
keep this in mind, it will calm your
emotions and improve your philosophy
of life and your day-to-day perform
ance.
The psychiatrists say that the mind
is a wonderful instrument, which grad
ually blocks out unpleasant memories
and experiences and heals over wounds,
in a beautiful fashion, given adequate
time.
A serene philosophy, based on knowl.
edge, faith and other encouraging
thoughts, will do wonders for you, your
ipersonality and your health.
If everyone worked as hard as he
described it, there would be no undone
work.
Babson Park, Mass., October 3—The oth
er day we were talking with the partner of a
large financial house. He said they had
been looking for an experienced trader of
bonds for better than a couple of months. A
number of prospects were interviewed; but,
long on ambition, they were very short on
the chief qualification: experience.
BACK IN FASHION AGAIN
Actually, it is no wonder that experienced
bond men are scarcer than hen’s teeth.
Common stocks have been all the rage with
the average individual investor ever since
the end of World War II . . . and for a spell
even before that. Banks, insurance com
panies, and some trustees were the only ones
who had much interest in bonds. As a mat
ter of fact, even they bought more from ne
cessity than from their love of bonds.
During the last big war, the Government
and the Treasury, on the one side, and the
Federal Reserve Board, on the other side,
co-operated to keep interest rates low to hold
down the huge expense of a soaring federal
debt burden. This “accord” was highly in
flationary . . . because every time the Fed
bought bonds to support the bond market, it
filled the banks fuller and fuller of loanable
funds. At the end of the fifth decade, this
accord was scrapped; interest,, rates started
a long climb, and bonds went into a secular
slump from which they have not yet emerg
ed. Today, yields of 6 per cent on bonds are
not hard to find, and these handsome returns
have attracted buyers who never before
bought bonds. In a word, bonds are back
in fashion again!
BUT WHAT ABOUT INFLATION?
With the exception of a short period to
ward the end of the 1950’s, those who bought
bonds during and after World War II have
had a very bitter experience. First, most
of the bonds purchased had low coupon rates
. . . ranging around 2% per cent to something
over 4 per cent. Naturally, as interest rates
moved higher, the older, lower coupon rate
issues fell in price. Second, during most of
this period, stock prices rose handsomely
. . .making bonds look like a very poor sec
ond choice indeed. Third—and most damag
ing to the bond owner—prices for consumer
goods climbed ever higher, so that the year
ly interest received bought less and less and
less and the purchasing power of the bond
when paid off at maturity was far below the
purchasing power of the original investment.
The recent swift rise in the coupon rates
on best-quality bonds—to 6 per cent and even
higher—is giving the buyer a good current
income and lessens the danger of any future
fall in the prices of such issues. Many will
tell you that the threat of inflation, of fur
ther advances in the cost of living, makes
bonds still unattractive; but this fear may
be unwarranted today. At present low quo
tations for many sound bonds, all their own
er has to do is purchase them at a discount
and hold them to maturity, thereby increas
ing his capital. This method of protecting
against inflation was not available when 3
per cent bonds were selling close to 100. Arid
the competition from stocks — even after
their slump—is not very great, since many
of the popular issues now yield only 3 to
. fj^CjceuL .•>•••
TAX EXEMPTION, TOO
There seems little doubt that Congress
will raise all income taxes for 1967. Such
action will make tax-exempt bonds more ap
pealing than they are now. Once it was
thought that only the very wealthy should
be interested in tax-exempt securities. How
ever, those who pay only 20 per cent to 30
percent of their taxable income to Uncle
Sam can make really worthwhile savings in
present depressed tax-exempt bond markets.
Many of the tax-exertipt obligations issued
ten and fifteen years ago, with maturities in
the next five years, can be had today at deep
discounts. You pay no federal taxes on the
yearly interest while you hold them, and you
enjoy the favorable long-term capital gains
tax on the increase at maturity.
THE LONG VIEW
A review of the price movements of
stocks and bonds over a long sweep of his
tory indicates that popularity may ride with
stocks for many years and then swing to
bonds. Since 1949, bonds have been in the
discard and stocks in the ascendency. It is
just possible that recent inter-action between
stocks and bonds may be making the founda
tion for the building of a new cyclical climp
in bond prices.
Since vacation time has
come and gone, perhaps you
to Europe or some other ex
citing place over the summer
holidays. Sometimes these
travelers get too carried
away with their adventures.
It is a sad state of affairs
when we meet the person
who thinks that only in Eu
rope can we find scenic beau
ty and good times. Chances
are that he has never been
farther west than his own
state line.
• Our nation is very young
and has done much to alter
the map of 'history. True,
we do not have the culture of
Europe, but then, Europe had
a bit of a head start on us.
America is a young nation.
It has and will have a great
history.
The American system of
education is set up in such a
way as to glorify and idealize
the foreign. But we have a
great nation. We should never
underrate its potential. The
in favor of Europe or some
mantic ^symmer adventure
person who rejects America
other place because of a ro-
there is not only impatient
but also uneducated.
WEDNESDAY
Milk, meat loaf, strawber*
ries in jello, creamed pota
toes, carrot sticks, hot rolls,
and butter.
THURSDAY
Milk, ravioli with cheese,
tossed salad, green beans,
hot biscuit, buter, and apri
cot spice cake with glace.
FRIDAY
Milk, fish sticks with tartar
sauce, field peas with snaps;
buttered cabbage, corn bread
squares, butter, and glaced
doughnuts.
School Disarict 56
School Lunch Menu
Week of October 17-21
Births
x/ -ir ^
And the Taxpayer Payeth!
Stories
(
Behind
Words
By
William S. Penfield
Conclave
articles in on time, isn’t it
people?
The Sentinel staff have not
been the only ones busy at
CHS. The Student Council is
counting votes again! The
freshman have just finished
picking their leaders as they
voted for the Freshman Class
Officers. These new officers
are as follows:
President — George Cope
land.
Vice-President — Bob Kel
ler.
Secretary — Almeda Rog
ers.
Treasurer — Elaine Ste
wart.
Congratulations! You have
a good job lined up for you.
As most of you know the
Red Devils downed Ware
Shoals last Friday night 25-
13. We’re all quite proud of
them. Keep it up, Mighty
Red!
MONDAY
Milk, chiliburger with
cheese, cole slaw with car
rots, whole kernel corn,
hamburger buns, butter, and
chilled pineapple.
TUESDAY
Milk, roast beef with gra
vy, Brussells sprouts, rice,
COX
Mr. and Mrs. Joel R. Cox,
Jr. announce the birth of a
son, Robert McDaniel, on
October 3 at Roper Hospital,
Charleston; Mrs. Cox is the
former Lena Copeland,
daughter of Mrs. James
Copeland and the late Mr.
Copeland at Renno.
NOTICE!
As of November 1 the minimum
charge for all service calls made
by Clinton - Newberry Natural
Gas Authority will be increased
from $3.00 to $5.00 per call.
Conclave—a private or secret meeting—lit
erally means a room that can be locked. The
word is derived from Latin “con”—with—and
“clavis”—kev.
Conclave got its present meaning from the
procedure used in choosing Roman Catholic
Popes.
After a Pope dies, the members of the Col
lege of Cardinals are locked up in a set of rooms,
and the door is not unlocked until a new Pope is
chosen. Votes are taken twice daily until can
didate receives a two-thirds majority. He is the
new Pope.
Conclave, the name of the set of rooms where
the cardinals met, was applied to the meeting
itself. The word was later used for any private
or secret meeting.
Highlights
From Clinton High
By KAYRAN COX
This - week the Sentinel
staff has been quite busy
picking its new team of re
porters. All those wishing to
be reporters turned an arti
cle in of their choice — either
news, sports, editorial, or
features. The Sentinel then
reads the articles and selects
its reporters on the basis of
originality, prompness, and
expression. Hard to get those
CLINTON, S. C., THURSDAY, OCTOBER 13, 1966
Oty* QUintmt
Established 1900
July 4, 1889 — WILLIAM WILSON HARRIS — Jane 13, 1955
PUBLISHED EVERY THURSDAY BY THE CHRONICLE PUBLISHING COMPANY
Subscription Rate (Payable in Advance)
Out-of-County
One Year, $4.00; Six Months, $2.50
One Year, $5.00
Second Class Postage Paid at Clinton, S. C.
POSTMASTER: Send Form 3579 to Clinton Chronicle, Clinton, S. C. 29325
The Chronicle seeks the cooperation of its subscribers and readers—the publisher
will at all timeg appreciate ‘ wise suggestions and kindly advice. The Chronicle will
publish letters of’general interest when they are not of a defamatory nature. Anony-,
mous communicaions will not be noticed. This paper is not responsible for the views
or opinions of its correspondents.
No responsibility is assumed by the publisher for omission or error occurring in
advertisements or news matter, but correction will be made in the next issue when
attention is directed to it. In no event will liability be assumed when merchandise is
sold at ineuttectly advertised price.
Member: South Carolina Press Association, National Editorial Association
National Advertising Representative:
AMERICAN PRESS ASSOCIATION New York, Chicago, Detroit, Philadelphia
SPECIAL WEEKEND VALUES!
In Saluting The
JOANNA - KIN ARDS AREA
LADIES
VINYL PLASTIC
CAR
COATS
This Sale Only
$4.27
10(1% COTTON
PILLOW
CASES
(embroidered & prints)
Special Value!
99c set
LADIES
LADIES CROWN TUFF
CHENILLE
PAJAMA
HOUSE
SF.TS
COATS
AND
Reg. $4.99—
SHIFT
now $3.99
GOWNS
Save $1.00
80% Acetate 20% Nylon
Reg. $2.79 —
sale, SL71
SPECIAL CLOSEOUT
HAIR
CURLERS
AND
ROLLERS
Reg. 29c and 39c each.
10c a card
SPECIAL
Floral
Arrangements
only 87c ea.
WAFFLE-WEARE .
DISH
CLOTHS
Reg. 19c —
2 for 27c
Weekend Value
^OSES
Clinton, S. C.
833-1595
Torn*
CUFCKINC, ACCOLM
(5
SAFEGUARDS YOUR CASH
SAVES TIME AND TROUBLE
SPEEDS PAYMENTS
GIVES YOU VALID RECEIPTS
Open your Checking Account at
M. S. Bailey & Son, Bankers
Established 188^*
i
Member FDIC Clinton, S. C
/ 4Vi% Interest Paid On One Year Savings Certificates'
Consolidated Upholstering Co.
Clinton, S. C.
Now OPEN To Serve YOU With
Only The BEST In Upholstery
QUAUTY WORKMANSHIP
FREE ESTIMATES
IN YOUR HOME
100% GUARANTEED
NO MONEY DOWN
12 MONTHS TO PAY
ALL TYPES MATERIAL
' Over 18 Years
TO CHOOSE FROM
Experience in Upholstery
A CONSISTENT LOW OVERHEAD ENABLES US TO GIVE LOW PRICES
J. T. LANDRUM, Owner and Operator
CALL COLLECT
Call Mrs. Robert A. Walker—833-1435 :—: Greenville 277-6!
FREE PICK-UP AND DELIVERY