Historical Newspapers of South Carolina

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t 1 1 THE CHRONICLE, Clinton, S. C., August 8, 1968—17 CHICK PITTS CHASES STEED . . While Ted Davenport’s Kicks Ball JAMES MEADOWS HITS GROUND ... As Donkey Decides To Unload .r' . . . Sam Owens IBooks Uncertain Donkey Game Success The Clinton Jaycees last Fri day sponsored a Donkey Ball Game which was declared a suc cess. The players said they got a kick out of it. fering a head injury. He says he was either thrown from the donkey or kicked--he can’t re member which. However, he was back on the job Monday. Many Wonders Mike Horton, a member of the Jaycee team, had an overnight stay in the hospital after suf- BY RICHARD GANTT Attorney Presbyterian College This type sale enables a per son to contribute the apprecia tion in value of certain property and thereby save income taxes and generate a charitable deduc tion for the property’s apprecia tion and also avoid capital gain on that appreciation. It is of particular value if a person wishes to save on fu ture income taxes. Here is how it works: A person interested in helping a worthy institution such as Pres byterian College, to use an ex ample, may have appreciated se curities which he' wants to keep. He is interested in making a con tribution to the college. This is accomplished by a bargain sale to the institution for the cost basis. He then replaces the bar- gain-sold securities by pur chasing stock in the same corp oration on the stock exchange. He still owns the same number of securities, but they have a stepped-up basis, reducing the potential capital gain in a future sale. Example: Years ago, Mr. X paid $3,000 for certain securi ties. They are now worth $5,000. He wishes to give $2,000 to the College. He bargain sells his listed securities to Presbyter ian College for the $3,000 cost. He will receive a $2,000 contri bution deduction ($5,000 fair market value minus $3,000 sales price). Mr. X also avoids capi tal gains tax on the $2,000 appre ciation. Now Mr. X takes the $3,000 received from the college on the bargain sale plus the $2,000 he Rhodes Assigned Army Private First Class Thomas L. Rhodes, 20, son of James C. Rhodes, 107 McMillan St., Clinton, was assigned July 24 to the Americal Division near Chu Lai, Vietnam, as a radio operator. His mother, Mrs. Rhodes lives at 105 B. Ellis St., Joanna. * * * Japan, world’s largest steel exporter, produced69 millon tons last year, of which 4.5 million tons were shipped to the U.S. “How much insurance did he have?” •'Too bad about Brown,” wc say. Our first question is "Did he leave his family with sufficient Life insurance?" No doubt you arc taking your own proper precautions —and will want to get all the details about the Metro- politan s Family Income Plan. JAMES E. FURR Box 223, Clinton, S. C. 833-2089 Metropolitan Life 1 INSCBAMCr. COMPANY NRW YOBK, N. V The Jaycees netted over $300 from the game. The proceeds go to the Jaycee building fund. initially intended to contribute and buys the same numtier of shares of stock he owned before, at a cost of $5,000. He still owns the same number of securi ties as before the bargain sale. However, his securities now carry a cost basis of $5,000 rather than $3,000. Years from now this may prove very worth while. Assuming the stock in creases in value and his shares grow to $8,000 his gain is only $3,000 ($8,000 sales price minus $5,000 new cost) ihsteffdof$5,000 ($8,000 sales price minus $3,000 original cost of securities). We are all aware of the ability of our government to increase taxes. This bargain sale may be a way to save on capital gains tax and assist a worthy insti tution or institutions of your choice. In addition to her duties as secretary of the Chamlier of Commerce and the United Fund, Mrs. Esther Pitts operates a little known agency of the United Fund. It is known as the Local Relief. This fund is used to assist those in emergency situations who are not eligible for regular tienefits such as welfare. The money is used to buy groceries, drugs, fuel, utilities or clothing. Since January 1st, 24 families have l>een helped through the Local Relief fund. These fami lies included 85 men, women and children. Two - f the families were helped two times each. Four of the families that were aided had lost their household furnish ings by fire. Four transient peo ple were provided witli transpor tation. In cooperation with the Lau rens County Chapter, Crippled Children and Adults Society, the Local Relief has for loan pur poses 25 wtieel chairs, 18 alum inum walkers, five pair of crutches and two pair of tied rails. In the past 12 months, 17 of the wheel chairs have lieen used by 36 persons; eight of these have been in continuous use and one has lieen used by the same per son since 1965. Of the 18 walkers, five have ’68 DODGE Luxury, size and comfort for lot less than you’d ex pect. Check tlhe features. Check the price. Get a great deal now while the Dodge Boys have Dealer Fever. the dodge boysGJfctiyhave dealin’ fever ’68 DODGE The Clean Machine! The car you've always wanted, but thought you couldn’t afford. Now you can. See the Dodge Boys while they’ve got Dealer Fever. the dodge boys i 'have dealin’fever Bargain Sale Explained RELIEF AGENCY CHAIR—Torrence Shealy re turns a wheel chair to the Local Relief Agency which provides wheel chairs, walkers and crutches. The Local Relief Agency is a participating member of the Clinton United Fund. lieen used by 12 persons and 13 1963. The five pair of crutches have lieen in use continuously, have leen used by nine people, one by the same person since I’68 DODGE Easy on the budget and everything you could want in a car. Drive a Coronet home today. You’ll save a bundle while the Dodge Boys have Dealer Fever. Mountville News I Y MRS. I.. K. ADAMS Mr. and Mr>. Mark Pitts and boy.s l Aiken, Mrs. Hugh Mc Carter and Susan f Fountain Inn visited Mr. J. W. Miller Sunday. Miss Rachael c< unts fGreen- woi id spent the weekend with Mary Alga Simmons. Miss /ello Crisp and Mrs. Clara Wightman of Cross Hill spent the weekend inSaluda, N.C. with Rev. \V. 1 . Crisp Jr. Rev. Albert Bramlett of Greer preached at the Baptist Church Sunday. Mrs. Carl B. Crisp and Mrs. Ray Adams accnmpanied Rev. W. F. Crisp h'une b. Saluda, N.C. for several days last week. Major James Crisp of Cum berland College, Williamsburg, Ky., visited Mr. and Mrs. Roy Adams Sunday. Mrs. Maude B. Bryson and Mrs. 1. B. Avcock 4 Cushing, Okla., spent Sunday m Green wood with Mr. and Mrs. Filina Blake. The Miller Reunion was held at the lake home of Mr. and Mrs. Mallette Wham. Mrs. Willie Mae Copeland and daughter visited Mr. and Mrs. Kddie Alexander over the week end. The first mechanical lift truck Ur handling materials was used m a U.S. textile mill m 1887. STOP THAT ITCH! IN JUST 15 MINUTES, If not pleased, your 48c back at any drug counter. Apply quick drying 1TCH-ME-NOT day or night for ec zema. insect bites, toe itcb. other sur face rashes. Anesthetic action quiets itching in minutes. Antiseptic action kills germs to speed healing. NOW Yni.ns s |Mi;irm;ic\ For The Best In Health and Accident Insurance — SEE — BILL THOMPSON — AT — NEUBURGER & CO. 108 West Pitts Street Phone 833-2081 INSURANCE AND BONDS Sculptured artistry in design from the flawless engagement diamond to the matching wedding band. A uniquely designed bridal duette with 10 brilliant diamonds. $279 for both rings No money down. $2.75 a week The modern upswept set ting. Blazing perfect dia mond. Matching wedding ring. $339 $149 for both rings No money down $1.50 a week for both rings No money down $3.50 a week Satin-finished bands complement a shimmer ing diamond for the bride and groom. $109 for both rings No money down $1.00 a week Graceful, modern dia mond trio. The bride and groom wedding rings match the lovely en gagement ring. $159 for all three No money down $1.50 a week A glowing diamond and wedding band to match In fluently hlotded set tings created -by a mas ter's hand. $159 for both rings No money down $1.50 a week