The Clinton chronicle. (Clinton, S.C.) 1901-current, June 20, 1968, Image 19
V
CARD OF THANKS
THE CHRONICLE, Clinton, S. C., June 20, 1968—19
AT UNITED FUND MEETING— represented at the meeting at which
Representing the Clinton United campaign leaders diseased cam-
Fund at a meeting Tuesday in New- paign techniques and procedures,
berry were, left to right, Mrs. Ervin Creighton was one of the featured
Shook, Don Creighton and Mrs. speakers. He discussed "Meeting
Frank Sherrill. They were among the Challenges Of An Increased
25 people from eight communities Coal.”
Truth - In - Le nding
RABSON PARK, MASS-Presi
dent Johnson has signed the Con
sumer Credit Protection Act, a
measure designed--among other
things -- to give buyers de
tailed information on the finance
charges they pay for loans and
credit purchases.
FULI DISCLOSURE REQUIRED
Except in the case of install
ment purchases costing $25 or
less (or $25 to $75 if finance
charges are below $5, or more
than $75 if such charges are
not above $7.50), the law requires
finance companies, banks, other
lenders, and retailers to make
full disclosure of credit charges
in writing. Beginning Julyl, 1969,
credit customers and borrowers
must be informed of these
charges in terms of annual per
centage rates on the declining
balance of their obligations. . .
and of the dollars-and-cents cost
of financing loans and purchases.
The housewife who buys at a
department store on her re
volving charge account must be
told in writing how much she will
pay in interest and carrying
charges over the course of a
year, above and tieyond the pur
chase price of what she buys.
No longer will it tie lawful for
a finance company or auto dealer
to advertise simply that you can
buy item X for, say, $10 down
and $30 a month. Dollar pay
ment totals and full annual
charges must be spelled out.
GARNISHMENT OF WAGES
Commencing Junly 1, 1970 --
a year after the truth-in-lending
provisions take effect -- con
sumers who borrow will be af
forded additional protection.
When unable to make scheduled
payments, they will not t>e pun
ished by unreasonable garnish
ment of salary. The law exempts
75 r ( of the borrower’s pay from
garnishment and forbids his em
ployer to dismiss him the first
time his salary is garnished.
Of course, the intent is to curb
shyster lenders who overextend
credit and then promptly seek
their pound of flesh via the gar
nishment route, thus miring de
linquent borrowers in financial
quicksand. But this section could
boomerang by deterring low-in
come wage earners from buying
much ' >f anything on credit, there
by hurting legitimate and re
putable retailers dependent on
this business.
PROBABLE IMPACT
ON LENDERS
Most lenders will find com
pliance with the truth-in-lending
provisions annoying and time-
consuming. But the new rules are
sensible in the main, and re
tailers who extend credit, as well
as other lenders, should not find
it too hard to live with them and
still prosper. It is only the shoddy
operators who have reason to
fear. Lenders will be screening
credit applications more closely;
and after midyear 1970, some may
find it necessary to refuse credit
to very-low-income applicants
because of the garnishment pro
visions.
Retailing and money-lending
are highly competitive fields.
Both make extensive use of ad-
IN MEMORIAL
EDGAR LEE BANJAMIN
In remembrance of Edgar Lee
Benjamin, who left us one year
ago on June 22, 1967.
In the cemetery softly sleeping
lies the one we love so dearly,
in his silent lonely grave, peace
ful be that sleeping dear, Edgar!
It is sweet to breathe your
name, in life we love you dearly,
in death we do the same.
Just a year ago you left us,
in remembrance of your sweet
face, we drop a silent tear.
You shall never be forgotten,
never from our memory fade,
loving hearts will always linger
around the grave where you’ve
been laid.
Mr. and Mrs. Walter
Benjamin and Family
vertising in seeking customers.
The new law requires that such
advertising be much more ex
plicit as to interest and other
charges than is now the case.
Gimmicks will be out and, with
money costs likely to continue
high well into the future, it will
be interesting to see what ad
vertising pitches will be used
once the law gives into effect.
WILL CONSUMERS
BORROW LESS?
Opposition to this law stemmed
largely from concern that full
disclosure of charges for credit
and loans would cripple credit
sales, upon which so many busi
nesses heavily depend. It was
feared that once consumers be
came aware of the true total cost
of borrowing they would have
second thoughts. But no such cut
back occurred in Mass. -- first
state to pass a truth-in-lending
law.
We see no reason to believe
that the national experience will
be much different from that ob
served in the Bay State. Ours
is now a decidedly credit-or
iented society. Consumers are
well trained in the art of “bor
rowing from tommorrow”. Each
year more and more Americans
are attaining security of income;
and this security promises to en
courage a still broader use of
credit as buying decision be
come more widely determined by
expectations of future income
than by limitations of current in
come.
Second and Final Night Sale of Season!
The Shoe Savings you've
been waiting for ...
for WOMEN
FAN FARES
TEMPOS
fbr CHILDREN
ROBIN HOOD
were 11.99-1.^.99
now 3:00-8.00
were 5.99-8.99
now 3.00
for MEN
PEDWIN
were 9.99-19.99
now 6.00-7.00
ALL SANDALS HALF PRICE
, ' cV A H M
Famous hmnd shoes
for tfie entire fhmily
It's time to stork up on shoes for the whole
family. Our July clearance Sale is just be-
Kinninjj ... so come in now while our selec
tion is still complete. You'll find women’s
shoes stvled fashion-right for today’s new
look in clothes.; or sturdy, well-built shoes
for children; and handsome, rugged shoes
for men. Wait no longer! Buy now and
get big savings on Famous Brand Names.
FAMILY
SHOES
CLOSED THURSDAY. JUNE 20 — OPEN AT 6 P. JVL
REGISTER FOR FREE PAIR OF SHOES
DRAWING FRIDAY AND
SATURDAY NIGHTS
AT 6:00 P. M.
T.E.
JONES & SONS
Clinton, S C.
SiBiJ
FOR EASY SUMMER LIVING
25% Off
Aluminum Folding Chairs,
Lounges, and Rockers
Aluminum, Redwood Folding Fur
niture—2 Chairs, Settee, Table.
$34.95
Several Folding Canvas Beach
Chairs. Reg. 4.95
$2.00
LARGE SIZE
PICTURES
$4.95 up
Reg. 7.95
PRINCESS
CHAIRS
$17.95
Reg. 24.95
OUR CUSTOMERS HAVE TAKEN ADVANTAGE OF OUR SALE SO TREMEN
DOUSLY WE HAVE DECIDED TO RUN IT ANOTHER WEEK. NOW IS THE
CHANCE FOR ALL WHO MISSED IT TO COME IN NOW AND SAVEP
We want to thank our customers and everyone who have made it a wonderful pleasure to have a
business in this community for the past 21 years and we hope to have your continued support in
the years to come.
To celebrate our anniversary, wie are offering the following merchandise at a tremendous savings.
SAVE NOW!
SAVE NOW! THERE IS NEVER A CARRYING CHARGE ON
FURNITURE AT T. E. JONES & SONS.
SOLID MAHOGANY
Drop Leaf
TABLE
by Craftique
Our Anniversary
Price—
$l75°o
THIS TABLE IS
REGULARLY PRICED
AT 249.50
FURNISH YOUR BEDROOM COMPLETELY!
For Only...
DRESSER
MIRROR
BED
CHEST
BOX SPRING
MATTRESS
SPREAD
PILLOWS
DRESSER LAMPS
Regular Price $259.95
FIBER-VINYL
9x12 — Asst. Colors
RUGS
’15.00
Regularly 24.95
Nylon, Fortrel, Wool
RUGS
4x6. Asst. Colors. Reg. 14.95
$ 10.00
ONE LOT
ODD
COFFEE
TABLES
AT A TREMENDOUS
SAVING
DISHES
PICK WHAT YOU WAW
CUPS, ea. 3c CEREALS, ea. 5c
SAUCERS, ea. 5c CREAMERS, ea. 10c
PLATES, ea. 10c SUGAR DISH, ea. 10c
ALL
BEDDING
20% Off!
um
BUY
ONE AT
REGULAR
PRICE
GET ONE
OF SAME
VALUE
FREE!
SAVE
NOW!
SOLID BRASS
VANITY
STOOLS
$10.00
Regularly $12.95
BOOKCASE
and
CURIO COMB.
$19.95
In Mahogany
Regularly $29.50
CARD TABLE
With 4 Chairs
$29.95
Regularly $44.95