University of South Carolina Libraries
1 THE CHRONICLE, Clinton, S. C., June 11, 1970—6^B BARBECUE EXPERTS — Shown Welter, Area Poultry Specialist, who above are Desiree Campbell, the win- judged the contest, and Allen Finley, ner of this year’s Sears sponsored who came in second. 4-H Poultry B-B-Q contest, with John 4-H Barbecue Winners BY THAD REEVES Asst. County Agent The 4-H Poultry Barbecue Contest was held June 2 at the Agriculture Building in Lau rens. This contest is sponsored each year by Sears, Roebuck & Co. In this contest, the 4-H’ers are required to barbecur four halves of chicken in two hours. The time begins when the charcoal is lit, so it is impor tant to get a hot fire started quickly and keep it hot during the cooking period. Points are deducted if the chicken is turned in too early or too late. Four halves are cooked, but only one has to be turned in to the judge. The 4-H'ers are also judged on their equipment, fire manage ment, and the doneness, appear ance and taste of the chicken. The judge for the contest this year was John Walter, who is the Area Poultry Specialist. The winner was Desiree Campbell of the County-Wide 4-H Club, and second place went to Allen Fin ley of the Cross Hill-Mount- villeSr. 4-H Club. Any interested readers who would like to try barbecuing chicken should stop by the County Agent's Office and pick up a publicati'>n which we have that describes in detail the fine pomts of preparing chidken on the charcoal grill. -Minding Your Business Why Buy Stock? BY JOHN J. SUTHERLAND Certified Public Accountant During these days of extreme market fluctuations, many peo ple are thmking about the money that can be made or lost in the stock market. Many of these people will buy stock oo the bas is of V>t tips ^iv*n by friends. Ottfefi wfn "base their pur chases on a sound decision after studying all the facts. Most will not realize that they fall into one or the other of the two classes of stockholders. A stockholder is either an inves tor or a trader, and they areas different from each other as day and night. An investor will look to the basic value of the stock. He is seldom in a hurry to buy or sell and if the stock moves a few points while he is fact-finding he will not be disturbed. He wants to know such things as earnings per share, both for past years and the projected earnings for the future. He may be interested in the yield. Yield is expressed as a percentage of indicated dividends to the cur rent market price. He will want to know the P E ratio, some times called Price X Earnings and is expressed as a multi ple of earnings. This is the cur rent price divided by current earnings. The P E ratio is very im portant to him. This ratio is often grouped by industry and by the common averages such as the Dow-Jones Averages. He would also want to know how his stock ranks in the industry. Is it an industry leader, num ber 2, or one of the followers. In a growing industry the lead er and number two usually will have a very high P E ratio because everyone is expecting future growth. In an old es tablished industry, such as tex tiles or steel, the P E ratio will be lower , but slightly high er than good grade bond yields. A trader, on the other hand, pays little or no attention to any of the above. He is some times called a day trader be cause he tiften buys and sells the same stuck the same day. He really deals in people and news rather than in stock. Stock is just a vehicle to him. He believes in a market psycho logy. He is a tape watcher. He makes money in technical ral lies and in profit taking. He often sells short and so makes money in a down market. The trader has confidence in only two things: 1 The little stockholder is always wrong, and 2. The market always ov erreacts to news. The trader will often use charts and graphs of stock prices and volume tc»determine his actions. He has many tech nical theories that guide him as the tape progresses. To know that a stock moved so many points is of little use to him. unless he also knows the volume at the various levels and what news made it move. He also may want the point coverage at the next higher or lower le vels. This is the number of shares offered at various prices. He believes in such things as support levels and re sistance levels. These levels often occur at prices where heavy trading previously took place. A round amount is also often a support or resistance level. A support level is for going down and a resistance le vel is for going up. Aftei prices break through these levels they usually move a lot further. In a bear (or down) market the trader looks for the bottom in a selling climax, one day of very high volume and a huge price drop. In a bull (or up) market he will look for a fren zied buying spree. This is when the odd lots (less than 100 shares) are very active, mean ing that the little man (who he thinks is always wrong) is buy ing. If you cannot sit in a bro ker’s office all day watching the tape, you should not be a trad er. It may be glamorous but it takes constant watching. This is YOUR INVITATION to hear E. R. BRANNAN, Evangelist of Montgomery, Ala. ‘ In A Series of GOSPEL MEETINGS June 14-19. 1970 Services: Sunday 11:00 A. M., 7:00 P. M. Monday Through Friday 7:30 P. M. GOSPEL SINGING: Sunday, June 14, 3:00 P. M. CHURCH OF CHRIST 603 North Brood Street Clinton, South Carolina Milton S. Parker, local Evangelist MBS STUMP Miss Stump Is Graduate Of Vardell Hall Sara Allison Stump, daugh ter of Mr. and Mrs. Alex B. Stump of 102 East Calhoun St., Clinton, was among 75 young ladies who were graduated from Vardell Hall, a college pre paratory school for girlsmRed Springs, N. C. She now joins the ranks of some 550 alumnae of the school which has just completed its sixth session. On of the South’s leading edu cators in private school educa tion, Mr. John Tyrer, delivered the commencement address to the graduate son Sunday, May 31. Tyrer, who is Headmaster of the Asheville School in Ashe ville, N. C., is serving as pre sident-elect of the Southern As sociation of Independent Schools. Earlier that morning, the graduates gathered with their families to hear the Rev erend James H. Bailey of Lum- berton, N. C. deliver the Bac calaureate sermon. Your Ktppy Shopemj Stor« TENDER SWITCHABLES WITH A CASUAL AIR IN 100% DOUBLEKMT MCMON* potywter that curvat baavtituily without tounc shapa or body Machma waahatola and dryabta S«ra»8tol6 A. Stnpad top Pm* Slaawataaa band nack shaM Pw* SJKn skirt. atasU waist Pw* B. Baftad bush jaefcat Pw* C RfebadandbattaopuSoYe' Pw* D. Stnpad owartiouaa. ravarvbta scarf .V ■ - r - - * * mkiMfi - * at W r^rmananvy pwatao saurr rwa a u R eview SUPERHIGHWAY— SUPERHOAX By Lennart Pearson Head Librarian Presbyterian College SUPERHIGHWAY—SUPERHOAX. By Hel en Leavitt. 324 pages. Doubleday, 1970. The joys of the open road have turned into a nightmare for the American city-dweller, and from the looks of things, it will probably get worse before (and if) it gets better. To go along with our car mania, we have in recent years de veloped a compulsion about superhighways—as if the answer to the paralyzing traffic congestion of our cities is to be found in the promiscuous con struction of freeways. But look at what happens! As a freeway en ters a city, it tears up whole neighborhoods, gob bling up any available public land, especially much needed parks. When it is finished, it attracts more and more traffic into the inner city. More and more prime land has to be converted to park ing space, which' erodes the tax base needed for the provision of basic public services. As cars choke the streets, public transportation becomes less efficient: as fares are increased to compen sate for lagging patronage, more riders go back to their cars, joining the bumper-to-bumper mad ness. Meanwhile, the air is pumped full of nox ious fumes, and as the sun sets on the whole mess, it can be seen only dimly through a brown ish haze—if indeed at all. It was by watching this depressing cycle in her home city of Washington, D. C., that Miss Leavitt first became interested in discovering what is going on. Her investigations have been extensive, and she is not shy about telling names and places. In her view, much of the blame for the pres ent chaos can be placed at the doors of congress men who (for reasons of their own) feel that their first responsibility is to the highway inter ests: car-makers, labor-unions, engineers, road- contractors, truckers, steel, rubber, and petroleum producers, bus line and highway officials. In 1969, five billion dollars, collected from taxes on gasoline, tires, and accessories, went into the federal Highway Trust Fund—a fund jealous ly guarded by congressmen lest any money from it be diverted from road-building to alternative modes of transportation. Also available for dis position was an additional $10 billion from taxes collected by the states. Roads, freeways, super highways—these we shall have, whether we need them or not! The Interstate Highway System comes in for some scrutiny also. Why have actual costs been double the projections? Are these roads really as safe as we think? Are all of them necessary? Some well-chosen photographs enhance this eye-opening look at demoncacy in action! Read and Use Chronicle Want Ads i \ ■ n »**■! 3. Laugh away summer's heat with year 'round Climate Control! Leave the summer’s heat outside—where it belongs — but keep your home spring time cool with Central Air Conditioning. Just pick the perfect climate, set your thermostat, and enjoy total-electric at its best. It also offers welcomed relief for those suffering from hay fever or asthma. No more hot, sleepless nights; no more listless days. Central Air Conditioning costs only pennies a day, thanks to low- cost rural electric power. LAURENS ELECTRIC COOPERATIVE IRC. Your Happy Shoppmg Store > ' ' V/S ' A? X ry o ■d 1 V . *V ! i.VTMl * \ t M ,, f (4 ^ £T l Xyv' —. J'-' UP COMES A SEA-GODDESS IN A SUM-MAKER SWIM SUIT BY Catalina' A Bare, bw -here Our jtunmne iMunon swimsuit With sea thru cross panels. Nylon Lycra* spendei inturquonaorwlMte 10 It $32 t This Greek (oddest drape has narer MM equaiad Nylon. Dear Hue. navy, tern (raen 12 20 O-cup BM C. Lat tha sun shma m to Mauhty yo» tarao. Scutp lured Orion* acryhc Mute. Mae. yettoar t-lt D Make the deeart Woom wth ReeidiM *“ NySon Lycra* apsndee *«*. (raen 10 IS I Pattern at nhbona and bows subtly hM* i prue p»clia»a you are a it fr % Wm