Historical Newspapers of South Carolina

Below is the OCR text representation for this newspapers page. It is also available as plain text as well as XML.

m THE CHRONICLE, Clinton, S. C., April 9, 1970—7-B Lydia Mill News MRS. CLYDE Mrs. Nathan Wyatt, Mrs. Paul Patterson, Barry Wyatt, Misses Judy Patterson, Bonnie and Wan da Wyatt, Febee and Missie Dar nell, Tena Gardner with Misses Margaret and Carolyn Bible of Laurens spent Easter Sunday at Myrtle Beach. Mr. and Mrs. Jim Davenport of Greenville visited Mr. and Mrs. E. C. Burdette, Sunday. Steve Campbell returned home with his mother after spending the weekend with his grand parents, Mr. and Mrs. Burdette. On Saturday Steve with his sis ters, Sherry and Dell Campbell visited their grandparents, Mr. and Mrs. Hugh Campbell in Rock Hill. Friends here of the Hugh Campbells will be sorry to know that he is very ill in the Rock Hill Hospital. Mr. and Mrs. Fred Jolly visit ed his mother, Mrs. Pearl Jolly in Marietta, Ga., over the Eas ter weekend. Miss Laura Hawkins of Cin- cinatti, Ohio, was a recent guest of her grandmother, Mrs. Lizzie Hawkins. Mr. and Mrs. Furman Brat cher spent the Easter weekend at Harry’s Fish Camp at Santee. Mrs. Linda Stone and Mrs. Callie Hambey spent the week end at Myrtle Beach. Dwayne Stone spent the weekend with his aunt and uncle, Mr. and Mrs. Mike Malpass in Greenville. Mr. and Mrs. J. B. O'Shields and Mr. and Mrs. Ray Riley and family visited the former s grandson, MikeO'Shields in Mar ietta, Ga., on M >nday of last week. Mike returned home with them for a two weeks visit. Mr. and Mrs. S. B. Cooper of Great Falls spent Saturday with their son and daughter-in-law, Mr. and Mrs. Calvin Cooper. On Sunday the Calvin Coopers visit ed relatives in Spartanburg. Mr. and Mrs. Rayburn Wyatt and grandchildren Mitzi and Tim my Wyatt spent the weekend at the former's place on Lake Greenwood. Mrs. Inez Smith her grand children, Mr. and Mrs. Ronnie Smith Jr. of Greenwood were recent visitors of her son and the Mr. Smith's father, Joseph Smith, in Greer. Mr. and Mrs. Horace Smith of Clinton were Friday guests of his mother. On Sunday Mr. and Mrs. George Kanipe of Newberry visitedMrs. Smith and in the afternoon they all visited Mr. Smith in Greer. Mrs. W. L Motte and Mrs. Denford Wyatt with Mrs. Janet Reeder, Sandra and John Reeder of Joanna visited their son, brother and uncle, Mr. Billy Motte in the Veteran's Hospital in Augusta, Ga., Sunday. Mr. and Mrs. David Storayand family of Greenville spent Sat urday with Mrs. Mary Fallaw and Mr. and Mrs. H. W. Fallaw. Phil Storay remained for the week with his grandmother and uncle and aunt. Mrs. R. E. Whitmire and Mrs. Allen White were visitors in Greenville on Wednesday of last week. Mr. and Mrs. Ray Shealy and Denny were in Union Monday for TRAMMELL, the funeral services of Mrs. Lu ther Parr. Mrs. Robert Bailey and child ren Bob and Melody of Anderson spent Sunday with her parents, Mr. and Mrs. Cecil McLendon who honored their daughter and grandson Bob with a birthday din ner. Enjoying the dinner with them were Mr. and Mrs. B. F. Harvey and Dianne, Mrs. Stella McLendon and Mrs. Jim Bailey. In the afternoon Mr. and Mrs. Vernon Thompson and grandson Byron Thompson of Laurens visited the group at the McLen dons. Mrs. Bobby Webb and Kathy, Mrs. Fred Mathis, Mr. and Mrs. Benny Tucker and Roland Revis have been visiting Mrs. Bobby Webb at intervals since her ad mittance to the Greenville Gen eral Hospital. Mr. and Mrs. J. D. Revis of Spartanburg, Miss Bonnie Jack- son and Mrs. Kathy Blanton and son of Charleston were recent guests of Mr. and Mrs. Fred Mathis. Mr. and Mrs. Morris Taylor and family and Mrs. Cora Gaddy of Chester visited the latters sis ter, Mrs. Laura Darby and niece Mrs. Bo Brown on Sunday. WITH THE SICK Among the patients at Bailey Memorial Hospital are Mrs. Li- die Howard, Mrs. Ezzie Miller, Mr. and Mrs. Clee Satterfield. Mrs. Bnbby Webb is a patient in the Greenville General Hospi tal. Mrs. A. M. Shumate is able to be out after a surgical illness at the Spartanburg General Hos pital. George Hnwell has returned to his home from Greenville Gen eral Hospital. Mrs. Lois.Pos is a patient in Bailey Memorial Hospital. W'MS GROUP TO MEET The Mission Prayer Group of the Lydia Baptist WMS will meet Tuesday evening with Mrs. Hous ton Ellis in Smallwood on W’hit- mire Highway. All members are urged to be present. Any of the church women are invited to join the WMS and one of the groups. BIRTHDAYS, ANNIVERSARIES Happy birthday April 11 to Mrs. Jimmy James David Bagwell and Mrs. Bessie Brown. Dianne Gaines will celebrate her birthday April 14. Mrs. Nathan Wyatt and Miss Feroline Seay will celebrate birthdays April 10. April 11 will be Mr. and Mrs. J. B. Neal and Mr. and Mrs. Joel Templeton's wedding anniver sary. Mrs. Doyle Templeton and Mrs. J. B. O’Shields will observe birthdays April 15. Mr. and Mrs. Homer Fuller will celebrate their wedding an niversary April 14. April 13 will be the birthday of Terrace Pace and Mrs. Char les Harvey. Mrs. Linda Dillishaw’s birth day will be April 16. Mr. and Mrs. Bobby James will observe their wedding an niversary April 16. Dana Brown was eight years old Tuesday April 7. Minding Your Business Cash Basis Taxpayers Summer Head Start' Program Isn't Funded The Laurens County Com munity Action agency will not be able to sponsor a summer “Head Start” program this summer be cause the agency did not receive an increase in its funding level. During the program year, the agency opened another Day Care Center in Clinton to accomodate more children. With the increase i i ■ for additional staff to see that the children are properly super vised. Because of the of the full-year “Headstart*(Day Care) program, the agency did not receive an increase In their Hand ing level. T. 0. POYSER Christian Science Lecture Slated “A Higher Humanity” is that which promotes the higher nature of men -- a humanity that uni fies men and nations, says Tho mas 0. Poyser, C. S. B., of Dal las, Texas. It is the title of a Christian Science lecture to be given Sunday, April 12 at 4 p.m. It will be held in the St. Paul Methodist Church, E. Butler St., Saluda, and is sponsored by Christian Science Society of Sa luda. Admission is free. Mr. Poyser graduated from the University of Michigan with a de gree in engineering. During World War H be served as a me teorologist in the United States Army Air Corps. After managing a business firm in Dallas, he re signed to devote full time to the Christian Science healing min istry. He is now a teacher of Christian Science as well as a member ofTheChristianScience Board of Lectureship. Textile Plants Promote 'Futures' Six textile plants in the Clin ton and Laurens area will com bine their efforts this month in a promotion designed to attract prospective employees to textile careers. Clinton Mills has joined with Laurens Mills, Gilliland Plant, Bonte Industries, Palmetto Spin ning and Watts Mill in sponsor ing “Textile FUTURES Month”, a program designed to spotlight the many opportunities and ad vantages available to men and wo men in the textile industry. The participating companies plan to make everybody in Lau rens County aware that the tex tile industry needs people and that it can offer satisfying and rewarding careers to anyone who is interested in textiles. There are jobs available to people with all levels of education. * * * Many older workers just don’t know how to go about looking for a job. A lot of free, easy-to- read help is available in a pam phlet “Do’s and Don’ts for Ma ture Job Seekers," published by the U. S. Department of Labor. It’s available in local offices of the State employment service throughout the country. BY JOHN J. SUTHERLAND Certified Public Accountant Nearly all individual taxpayers are automatically on the cash basis and as mentioned in an ear lier column, a cash basis tax payer need not report income un til he has received it in cash. This rule lends itself quite favorably to controlling the year in which income is taxable. How ever, the control must come from some outside source, meaning that the mere nonreceipt can not be controlled solely by the taxpayer. A person may be con sidered to have constructively received cash if he as his own discretion could have in fact re ceived it by the end of the year. All of you are familiar with certain aspects ofthis rule in that some of you have a savings ac count and interest is credited to this savings account on De cember 31. This interest must be reported as income even though you did not go to the bank and withdraw it. This is an appli cation of constructive receipt. Another application may be if an Agent or someone appoint ed by you to control your fi nancial affairs has received cash which he, in turn, must disburse to you, his receipt of cash will be considered a constructive re ceipt by you. This is true even though he may not have in fact turned the money over to you. Another example would be partnerships. If you are a part ner, you must report your share of the partnership earnings on your tax return. This must be done even though you did not draw any of it out. You may not have drawn your share of the earnings out because the partnership has reinvested the earnings and there was no cash to be distributed. You would be deemed to have re ceived this in cash and reinvest ed it in the partnership. If you have a life insurance policy that pays interest on ac cumulated dividends, you must usually report this interest as income. A possible exception to this might be a policy which does not permit withdrawals of accum ulated dividends without surren der of the policy. If you own mutual fund stock, you must report your share of the undistributed dividends or capital gains even though you e- lected not to receive this in cash but to be reinvested for you by the fund. Again, you will be deem ed to have constructively receiv ed these dividends and reinvest ed them. If you receive a note for ser vices instead of cash, the rule is not quite so clear. The re gulations hold that a taxpayer who receives notes in payment of his services has income to the ex tent of their fair market value (this is not necessarily the face amount of the note). The Court of Claims, however, has ruled that “in the absence of agree ment or consent to receive it as such, a promissory note of the debtor, although accepted by the creditor, does not in itself con stitute payment, ” but other courts have held notes to constitute in come when received. UAJW Of (JGCCUEMCC Think you can’t afford an Olds? Here are two reasons to think again! Our own surveys indicate that quite a few people think an Olds costs a lot more than it really does. Result? Many people buy an ordinary car and end up with a lot less car and value for their money. It’s so unnecessary, too, because Oldsmobile has many models that are priced right down with so-called low-priced cars. See your Olds dealer. He’ll prove that you’re closer to Olds than you think. Cutlass S: The sporty Olds-priced right down with the low-priced names. Included as standard equipment: Recessed wipers. Hidden antenna Deluxe steering wheel Wall-to-wall carpeting Door side-guard beams Flo-Thru Ventilation Rocket V-8. Bias- belted tires. Foam- padded seats Delta 88: The big Olds with the surprisingly modest price. Included in that price: Power steering Power front disc brakes. Regular-gas Rocket V-8 Bigger 124-mch wheelbase for a smoother, quieter ride All the room and comfort and luxury you could ever want. 4-4-1 My OLDSMOBILE From the above examples, you may generally deduce that if you had the right to receive payment in cash you will be deemed to have constructively received this payment. Exceptions to this rule would be where the right to re ceive income is substantially li mited or in cases where you would have to give up certain other substantial rights in order to receive payment. These sub stantial limitations could take the following forms: 1) the right to receive income is disputed, 2) the funds are impounded by a court pending adjudication of con flicting claims, 3) income due is subject to an accounting to be approved by a local court, 4) a salary increase was not paid until a later year, 5) stock trans ferred to an employee on the cor poration’s books but where his right to sell this stock to others is so limited that its market value cannot be determined, 6) a deposit made which binds you to sell property but which will be considered a part of the payment if the property is in fact sold. This binder is not taxed at the time received but will be taxed at the time of sale or at the time the option is forfeited. >•••••••••••■•••*••■•••••••••••••••••••••••••••••••••••••■*•••••••••>••••■••••••••••••••••••• • • a • a a a a a a a a a a a a •••• a a • a a a a a a • a a 4 a a a a a a a a • a a a a a a a • a a • a a • a a • a a a a a a a a a • a a a a a a a a • a a a • a a a a a a a a a a a LEONARD-MARLER INSURANCE AGENCY Phone 833-1121 200 N. Broad CONSULT US FOR ALL YOUR INSURANCE NEEDS • Life • Accident • Health • Hospital • Homeowner • Auto • Business • Bonds THOUGHT FOR THE WEEK: Material things can never satisfy our immortal axils. ix-x-xx-::-: LAURENS DRIVE-IN THEATRE Box Office Opens 6:30 Movie Starts 7:00 2.00 Per Car SUN. - MON. - TUES. APRIL 12-13-14 "WINNING' 4 Paul Newman and Joanne Woodward (G) For General Audiences WED. - THUR. - FRI AND SAT. APRIL 15-16-17-18 FIRST RUN SHOWING "GAILY, GAILY" Beau Bridges and Brian Keith (M) Suggested for Mature Audiences YOUR TELEPHONE WORKS 24-HOURS-A-DAY BECAUSE TELEPHONE PEOPLE DO. There’s somebody working at the phone company every hour of every day of every year. So that your phone will always be ready when you need to use it. That’s just another reason why today’s tele phone service is one of your best values. Southern Bell Can You Afford A Free Boarder? OUR ADVICE — CLEANING DON'T FEED HIM! INCLUDES EVERYTHING CLEANED ■ FLUFFED SANITIZED DEODORIZED and BRAND NEW TICKING! $2.49 Per Pillow Mr. Moth Will Eat Your Best Attire! o Hand ew /jF J W BEFORE HOT WEATHER. SEND US YOUR WOOLENS AND WINTER CLOTHES FOR CLEANING AND PREPARATION FOR STORAGE. SPECIAL! CASH AND CARRY Free Storage! CALL 833-1491 I FOR PICK-UP AND 1 PRICES ASK ABOUT OUR DELIVERY SERVICE 1 SUNSHINE Ommcs t 2 LOCATIONS: W. FLA ST. AND S. BROAD ST. «