The Clinton chronicle. (Clinton, S.C.) 1901-current, June 11, 1970, Image 13
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«
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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
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